Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Flushing Financial Corporation | |
Entity Central Index Key | 923,139 | |
Trading Symbol | ffic | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 28,001,422 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 45,094 | $ 51,546 |
Securities held-to-maturity: | ||
Held to maturity securities | 31,165 | 30,886 |
Securities available for sale, at fair value: | ||
Securities available for sale | 761,032 | 738,354 |
Loans: | ||
Net unamortized premiums and unearned loan fees | 15,226 | 16,763 |
Allowance for loan losses | (20,309) | (20,351) |
Net loans | 5,359,753 | 5,156,648 |
Interest and dividends receivable | 24,673 | 21,405 |
Bank premises and equipment, net | 29,929 | 30,836 |
Federal Home Loan Bank of New York stock, at cost | 54,942 | 60,089 |
Bank owned life insurance | 131,009 | 131,856 |
Goodwill | 16,127 | 16,127 |
Other assets | 85,819 | 61,527 |
Total assets | 6,539,543 | 6,299,274 |
Liabilities | ||
Non-interest bearing | 398,606 | 385,269 |
Interest-bearing | 4,259,042 | 3,955,403 |
Mortgagors' escrow deposits | 58,667 | 42,606 |
Borrowed funds: | ||
Federal Home Loan Bank advances | 1,083,031 | 1,198,968 |
Subordinated debentures | 73,919 | 73,699 |
Junior subordinated debentures, at fair value | 40,151 | 36,986 |
Total borrowed funds | 1,197,101 | 1,309,653 |
Other liabilities | 84,371 | 73,735 |
Total liabilities | 5,997,787 | 5,766,666 |
Stockholders' Equity | ||
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued) | 0 | 0 |
Common stock ($0.01 par value; 100,000,000 shares authorized; 31,530,595 shares issued at September 30, 2018 and December 31, 2017; 28,025,081 shares and 28,588,266 shares outstanding at September 30, 2018 and December 31, 2017, respectively) | 315 | 315 |
Additional paid-in capital | 221,622 | 217,906 |
Treasury stock, at average cost (3,505,514 shares and 2,942,329 shares at September 30, 2018 and December 31, 2017, respectively) | (74,222) | (57,675) |
Retained earnings | 407,590 | 381,048 |
Accumulated other comprehensive loss, net of taxes | (13,549) | (8,986) |
Total stockholders' equity | 541,756 | 532,608 |
Total liabilities and stockholders' equity | 6,539,543 | 6,299,274 |
Multi-Family Residential [Member] | ||
Loans: | ||
Loans receivable | 2,235,370 | 2,273,595 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 1,460,555 | 1,368,112 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 565,302 | 564,206 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 188,975 | 180,663 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 7,771 | 6,895 |
Construction Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 40,239 | 8,479 |
Small Business Administration Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 14,322 | 18,479 |
Taxi Medallion Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 6,078 | 6,834 |
Commercial Business and Other Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 846,224 | 732,973 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity: | ||
Held to maturity securities | 7,958 | 7,973 |
Securities available for sale, at fair value: | ||
Securities available for sale | 528,119 | 509,650 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity: | ||
Held to maturity securities | 23,207 | 22,913 |
Securities available for sale, at fair value: | ||
Securities available for sale | $ 232,913 | $ 228,704 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities held-to-maturity, fair value | $ 28,217 | $ 29,699 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 31,530,595 | 31,530,595 |
Common stock, shares outstanding (in shares) | 28,025,081 | 28,025,081 |
Treasury stock, at average cost (in shares) | 3,505,514 | 2,942,329 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, fair value | $ 7,221 | $ 7,810 |
Securities held-to-maturity, assets pledged | 4,701 | 0 |
Securities available for sale, pledged as collateral | 106,607 | 148,505 |
Securities available for sale, fair value option | 1,330 | 1,590 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, fair value | 20,996 | 21,889 |
Securities available for sale, pledged as collateral | 24,575 | 44,052 |
Securities available for sale, fair value option | $ 12,610 | $ 12,685 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Interest and dividend income | |||||
Interest and fees on loans | $ 59,658 | $ 53,318 | $ 171,997 | $ 155,834 | |
Interest and dividends on securities: | |||||
Interest | 5,562 | 5,850 | 16,646 | 18,377 | |
Dividends | 18 | 30 | 49 | 274 | |
Other interest income | 248 | 121 | 873 | 403 | |
Total interest and dividend income | 65,486 | 59,319 | 189,565 | 174,888 | |
Interest expense | |||||
Deposits | 17,425 | 10,655 | 44,323 | 29,145 | |
Other interest expense | 6,540 | 5,623 | 18,472 | 15,696 | |
Total interest expense | 23,965 | 16,278 | 62,795 | 44,841 | |
Net interest income | 41,521 | 43,041 | 126,770 | 130,047 | |
Provision for loan losses | 3,266 | 153 | 3,266 | ||
Net interest income after provision for loan losses | 41,521 | 39,775 | 126,617 | 126,781 | |
Non-interest income | |||||
Banking services fee income | 1,017 | 885 | 2,965 | 2,773 | |
Net loss on sale of securities | (186) | (186) | |||
Net gain on sale of loans | 10 | 152 | 168 | 396 | |
Net loss from fair value adjustments | (170) | (1,297) | (537) | (2,834) | |
Federal Home Loan Bank of New York stock dividends | 873 | 740 | 2,630 | 2,206 | |
Gain from life insurance proceeds | 2,222 | 238 | 2,998 | 1,405 | |
Bank owned life insurance | 782 | 816 | 2,320 | 2,418 | |
Other income | 221 | 313 | 779 | 1,120 | |
Total non-interest income | 4,955 | 1,661 | 11,323 | 7,298 | |
Non-interest expense | |||||
Salaries and employee benefits | 15,720 | 15,310 | 49,466 | 47,838 | |
Occupancy and equipment | 2,475 | 2,502 | 7,528 | 7,652 | |
Professional services | 1,915 | 1,763 | 6,539 | 5,678 | |
FDIC deposit insurance | 596 | 499 | 1,643 | 1,328 | |
Data processing | 1,427 | 1,349 | 4,254 | 3,873 | |
Depreciation and amortization | 1,484 | 1,173 | 4,328 | 3,493 | |
Other real estate owned/foreclosure expense (income) | (102) | 121 | 34 | 376 | |
Net gain from sales of real estate owned | (27) | (50) | |||
Other operating expenses | 3,718 | 3,249 | 12,158 | 11,407 | |
Total non-interest expense | 27,233 | 25,966 | 85,923 | 81,595 | |
Income before income taxes | 19,243 | 15,470 | 52,017 | 52,484 | |
Provision (benefit) for income taxes | |||||
Federal | 2,307 | 4,680 | 8,225 | 15,005 | |
State and local | (397) | 611 | 1,124 | 2,315 | |
Total taxes | 1,910 | 5,291 | 9,349 | 17,320 | |
Net income | $ 17,333 | $ 10,179 | $ 42,668 | $ 35,164 | |
Basic earnings per common share (in dollars per share) | $ 0.61 | $ 0.35 | $ 1.48 | $ 1.21 | |
Diluted earnings per common share (in dollars per share) | [1] | 0.61 | 0.35 | 1.48 | 1.21 |
Dividends per common share (in dollars per share) | $ 0.20 | $ 0.18 | $ 0.60 | $ 0.54 | |
[1] | For the three and nine months ended September 30, 2018 and 2017, there were no common stock equivalents that were anti-dilutive. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net income | $ 17,333 | $ 10,179 | $ 42,668 | $ 35,164 |
Other comprehensive income (loss), net of tax: | ||||
Amortization of actuarial losses, net of taxes of $(41) and ($64) for the three months ended September 30, 2018 and 2017, respectively and of ($124) and ($192) for nine months ended September 30, 2018 and 2017, respectively. | 91 | 88 | 272 | 262 |
Amortization of prior service credits, net of taxes of $3 and $5 for the three months ended September 30, 2018 and 2017, respectively and of $8 and $14 for nine months ended September 30, 2018 and 2017, respectively. | (7) | (7) | (20) | (20) |
Reclassification adjustment for net gains included in income, net of taxes of ($78) for the three and nine months ended September 30, 2017. | 108 | 108 | ||
Net unrealized (losses) gains on securities, net of taxes of $1,612and $241 for three months ended September 30, 2018 and 2017, respectively and of $6,055 and ($1,006) for nine months ended September 30, 2018 and 2017, respectively. | (3,505) | (333) | (13,159) | 1,416 |
Net unrealized gains (losses) on cash flow hedges, net of taxes of ($860) and ($41) three months ended September 30, 2018 and 2017, respectively and of ($4,425) and $49 for nine months ended September 30, 2018 and 2017, respectively. | 1,870 | 56 | 9,616 | (68) |
Change in fair value of liabilities related to instrument-specific credit risk, net of taxes of ($4) and ($10) for the three and nine months ended September 30, 2018, respectively. | 9 | 22 | ||
Total other comprehensive income (loss), net of tax | (1,542) | (88) | (3,269) | 1,698 |
Comprehensive income | $ 15,791 | $ 10,091 | $ 39,399 | $ 36,862 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Amortization of net actuarial losses, tax | $ (41) | $ (64) | $ (124) | $ (192) |
Amortization of prior service credits, tax | 3 | 5 | 8 | 14 |
Reclassification adjustment for net gains included in net income, tax | (78) | (78) | ||
Change in net unrealized (losses) gains on securities available for sale, tax | 1,612 | 241 | 6,055 | (1,006) |
Net unrealized loss on cash flow hedge, tax | (860) | (41) | (4,425) | 49 |
Change in fair value of liabilities related to instrument-specific credit risk, tax | $ (4) | $ (10) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 42,668 | $ 35,164 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 153 | 3,266 |
Depreciation and amortization of bank premises and equipment | 4,328 | 3,493 |
Amortization of premium, net of accretion of discount | 6,462 | 5,716 |
Net loss from fair value adjustments | 537 | 2,834 |
Net gain from sale of loans | (168) | (396) |
Net loss from sale of securities | 186 | |
Net gain from sale of OREO | (27) | (50) |
Income from bank owned life insurance | (2,320) | (2,418) |
Gain from life insurance proceeds | (2,998) | (1,405) |
Stock-based compensation expense | 5,973 | 5,092 |
Deferred compensation | (2,450) | (3,322) |
Deferred income tax benefit | (1,437) | (1,806) |
Increase in other liabilities | 6,580 | 6,810 |
Decrease (increase) in other assets | 2,103 | (68) |
Net cash provided by operating activities | 59,404 | 53,096 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of bank premises and equipment | (3,421) | (5,321) |
Net redemptions of Federal Home Loan Bank of New York shares | 5,147 | 3,945 |
Purchases of securities held-to-maturity | (653) | (8,030) |
Proceeds from maturities and prepayments of securities held-to-maturity | 364 | 14,830 |
Purchases of securities available for sale | (102,756) | (152,121) |
Proceeds from sales and calls of securities available for sale | 10,000 | 155,999 |
Proceeds from maturities and prepayments of securities available for sale | 57,839 | 60,573 |
Proceeds from bank owned life insurance | 6,165 | 4,646 |
Net repayments (originations) of loans | 3,605 | (234,227) |
Purchases of loans | (235,193) | (75,832) |
Proceeds from sale of real estate owned | 665 | 583 |
Proceeds from sale of loans | 14,410 | 54,990 |
Net cash used in investing activities | (243,828) | (179,965) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in non-interest bearing deposits | 13,337 | 29,346 |
Net increase in interest-bearing deposits | 303,288 | 195,552 |
Net increase in mortgagors' escrow deposits | 16,061 | 13,455 |
Net proceeds (repayments) from short-term borrowed funds | 115,250 | (43,500) |
Proceeds from long-term borrowings | 25,000 | 180,000 |
Repayment of long-term borrowings | (256,088) | (205,049) |
Purchases of treasury stock | (21,638) | (2,902) |
Proceeds from issuance of common stock upon exercise of stock options | 6 | |
Cash dividends paid | (17,244) | (15,729) |
Net cash provided by financing activities | 177,972 | 151,173 |
Net (decrease) increase in cash and cash equivalents | (6,452) | 24,304 |
Cash and cash equivalents, beginning of period | 51,546 | 35,857 |
Cash and cash equivalents, end of period | 45,094 | 60,161 |
SUPPLEMENTAL CASH FLOW DISCLOSURE | ||
Interest paid | 57,811 | 42,543 |
Income taxes paid | 5,116 | 16,906 |
Taxes paid if excess tax benefits were not tax deductible | 5,753 | 16,906 |
Non-cash activities: | ||
Loans transferred to Other Real Estate Owned or Other Assets | 673 | |
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 2,073 | |
Loans held for investment transferred to loans available for sale | 30,565 | |
Securities purchased not yet settled | $ 10,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Shares Purchased to Fund Options Exercised [Member]Common Stock [Member] | Shares Purchased to Fund Options Exercised [Member]Additional Paid-in Capital [Member] | Shares Purchased to Fund Options Exercised [Member]Retained Earnings [Member] | Shares Purchased to Fund Options Exercised [Member]Treasury Stock [Member] | Shares Purchased to Fund Options Exercised [Member]AOCI Attributable to Parent [Member] | Shares Purchased to Fund Options Exercised [Member] | Restricted Stock Awards Repurchased to Satisfy Tax Obligations [Member]Treasury Stock [Member] | Restricted Stock Awards Repurchased to Satisfy Tax Obligations [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2016 | $ 315 | $ 214,462 | $ 361,192 | $ (53,754) | $ (8,362) | $ 513,853 | ||||||||
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | ||||||||||||||
Net income | 35,164 | 35,164 | ||||||||||||
Award of common shares released from Employee Benefit Trust | 2,433 | 2,433 | ||||||||||||
Vesting of restricted stock unit awards | (5,052) | (271) | 5,323 | |||||||||||
Exercise of stock options | (6) | (40) | 46 | |||||||||||
Stock-based compensation expense | 5,092 | 5,092 | ||||||||||||
Purchase of treasury shares | $ (278) | $ (278) | $ (2,624) | $ (2,624) | ||||||||||
Dividends on common stock | (15,729) | (15,729) | ||||||||||||
Other comprehensive loss | 1,698 | 1,698 | ||||||||||||
Balance at Sep. 30, 2017 | 315 | 216,929 | 380,316 | (51,287) | (6,664) | 539,609 | ||||||||
Balance at Jun. 30, 2017 | (6,576) | |||||||||||||
Net income | 10,179 | |||||||||||||
Other comprehensive loss | (88) | (88) | ||||||||||||
Balance at Sep. 30, 2017 | 315 | 216,929 | 380,316 | (51,287) | (6,664) | 539,609 | ||||||||
Balance at Dec. 31, 2017 | 315 | 217,906 | 381,048 | (57,675) | (8,986) | 532,608 | ||||||||
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | 2,073 | (2,073) | 2,073 | |||||||||||
Impact of adoption of Accounting Standard Update 2016-01 | (779) | 779 | ||||||||||||
Net income | 42,668 | 42,668 | ||||||||||||
Award of common shares released from Employee Benefit Trust | 2,652 | 2,652 | ||||||||||||
Vesting of restricted stock unit awards | (4,908) | (176) | 5,084 | |||||||||||
Exercise of stock options | (1) | 7 | 6 | |||||||||||
Stock-based compensation expense | 5,973 | 5,973 | ||||||||||||
Purchase of treasury shares | $ (19,500) | $ (19,500) | $ (2,138) | $ (2,138) | ||||||||||
Dividends on common stock | (17,244) | (17,244) | ||||||||||||
Other comprehensive loss | (3,269) | (3,269) | ||||||||||||
Balance at Sep. 30, 2018 | 315 | 221,622 | 407,590 | (74,222) | (13,549) | 541,756 | ||||||||
Balance at Jun. 30, 2018 | (12,007) | |||||||||||||
Net income | 17,333 | |||||||||||||
Other comprehensive loss | (1,542) | (1,542) | ||||||||||||
Balance at Sep. 30, 2018 | $ 315 | $ 221,622 | $ 407,590 | $ (74,222) | $ (13,549) | $ 541,756 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Additional Paid-in Capital [Member] | ||
Restricted stock unit awards vested, shares (in shares) | 257,597 | 284,595 |
Exercise of stock options, shares (in shares) | 600 | 4,400 |
Treasury Stock [Member] | Shares Purchased to Fund Options Exercised [Member] | ||
Purchase of treasury shares (in shares) | 744,953 | |
Treasury Stock [Member] | Restricted Stock Awards Repurchased to Satisfy Tax Obligations [Member] | ||
Purchase of treasury shares (in shares) | 76,212 | 90,779 |
Retained Earnings [Member] | ||
Dividends on common stock (in dollars per share) | $ 0.60 | $ 0.54 |
Shares Purchased to Fund Options Exercised [Member] | ||
Purchase of treasury shares (in shares) | 10,000 | |
Common shares released from Employee Benefit Trust, shares (in shares) | 124,583 | 114,754 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 1. Basis of Presentation The primary business of Flushing Financial Corporation (the “Holding Company”), a Delaware corporation, is the operation of its wholly owned subsidiary, Flushing Bank (the “Bank”). The unaudited consolidated financial statements presented in this Quarterly Report on Form 10 The Holding Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III, and Flushing Financial Capital Trust IV (the “Trusts”), which are special purpose business trusts. The Trusts are not not The accompanying unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. The information furnished in these interim statements reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for such presented periods of the Company. Such adjustments are of a normal recurring nature, unless otherwise disclosed in this Quarterly Report. All inter-company balances and transactions have been eliminated in consolidation. The results of operations in the interim statements are not may The accompanying unaudited consolidated financial statements have been prepared in conformity with the instructions to Quarterly Report on Form 10 10, 10 01 X 10 December 31, 2017. When necessary, certain reclassifications were made to prior-year amounts to conform to the current-year presentation. |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Use of Estimates [Text Block] | 2. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Estimates that are particularly susceptible to change in the near term are used in connection with the determination of the allowance for loan losses (“ALLL”), the evaluation of goodwill for impairment, the review of the need for a valuation allowance of the Company’s deferred tax assets, the fair value of financial instruments and the evaluation of other-than-temporary impairment (“OTTI”) on securities. Actual results could differ from these estimates. |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings Per Share Earnings per common share have been computed based on the following: For the three months ended For the nine months ended 2018 2017 2018 2017 (Dollars in thousands, except per share data) Net income, as reported $ 17,333 $ 10,179 $ 42,668 $ 35,164 Divided by: Weighted average common shares outstanding 28,604 29,120 28,806 29,092 Weighted average common stock equivalents - 1 1 2 Total weighted average common shares outstanding and common stock equivalents 28,604 29,121 28,807 29,094 Basic earnings per common share $ 0.61 $ 0.35 $ 1.48 $ 1.21 Diluted earnings per common share (1) $ 0.61 $ 0.35 $ 1.48 $ 1.21 Dividend payout ratio 32.8 % 51.4 % 40.5 % 44.6 % ( 1 For the three nine September 30, 2018 2017, no |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Securities The Company did not September 30, 2018 December 31, 2017. The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2018: Amortized Fair Value Gross Gross (In thousands) Securities held-to-maturity: Municipals $ 23,207 $ 20,996 $ - $ 2,211 Total other securities 23,207 20,996 - 2,211 FNMA 7,958 7,221 - 737 Total mortgage-backed securities 7,958 7,221 - 737 Total $ 31,165 $ 28,217 $ - $ 2,948 The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2017: Amortized Fair Value Gross Gross (In thousands) Securities held-to-maturity: Municipals $ 22,913 $ 21,889 $ - $ 1,024 Total other securities 22,913 21,889 - 1,024 FNMA 7,973 7,810 - 163 Total mortgage-backed securities 7,973 7,810 - 163 Total $ 30,886 $ 29,699 $ - $ 1,187 The following table summarizes the Company’s portfolio of securities available for sale at September 30, 2018: Amortized Fair Value Gross Gross (In thousands) Corporate $ 120,000 $ 109,757 $ - $ 10,243 Municipals 100,018 100,546 589 61 Mutual funds 11,405 11,405 - - Collateralized loan obligations 10,000 10,000 - - Other 1,205 1,205 - - Total other securities 242,628 232,913 589 10,304 REMIC and CMO 372,472 360,119 17 12,370 GNMA 805 848 43 - FNMA 130,397 125,168 47 5,276 FHLMC 43,939 41,984 9 1,964 Total mortgage-backed securities 547,613 528,119 116 19,610 Total securities available for sale $ 790,241 $ 761,032 $ 705 $ 29,914 The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2017: Amortized Fair Value Gross Gross (In thousands) Corporate $ 110,000 $ 102,767 $ - $ 7,233 Municipals 101,680 103,199 1,519 - Mutual funds 11,575 11,575 - - Collateralized loan obligations 10,000 10,053 53 - Other 1,110 1,110 - - Total other securities 234,365 228,704 1,572 7,233 REMIC and CMO 328,668 325,302 595 3,961 GNMA 1,016 1,088 72 - FNMA 136,198 135,474 330 1,054 FHLMC 48,103 47,786 18 335 Total mortgage-backed securities 513,985 509,650 1,015 5,350 Total securities available for sale $ 748,350 $ 738,354 $ 2,587 $ 12,583 Mortgage-backed securities shown in the table above include one $21,000 December 31, 2017. not September 30, 2018. The corporate securities held by the Company at September 30, 2018 December 31, 2017 The following tables detail the amortized cost and fair value of the Company’s securities classified as held-to-maturity and available for sale at September 30, 2018, may may Securities held-to-maturity: Amortized Fair Value (In thousands) Due in one year or less $ 1,568 $ 1,568 Due after ten years 21,639 19,428 Total other securities 23,207 20,996 Mortgage-backed securities 7,958 7,221 Total $ 31,165 $ 28,217 Securities available for sale: Amortized Fair Value (In thousands) Due in one year or less $ - $ - Due after one year through five years 4,219 4,215 Due after five years through ten years 135,466 125,245 Due after ten years 91,538 92,048 Total other securities 231,223 221,508 Mutual funds 11,405 11,405 Mortgage-backed securities 547,613 528,119 Total $ 790,241 $ 761,032 The following tables show the Company’s securities with gross unrealized losses and their fair value, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position, at the dates indicated: At September 30, 2018 Total Less than 12 months 12 months or more Count Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 19,427 $ 2,211 $ - $ - $ 19,427 $ 2,211 Total other securities 1 19,427 2,211 - - 19,427 2,211 FNMA 1 7,221 737 - - 7,221 737 Total mortgage-backed securities 1 7,221 737 - - 7,221 737 Total 2 $ 26,648 $ 2,948 $ - $ - $ 26,648 $ 2,948 Available for sale securities Corporate 14 $ 99,756 $ 10,243 $ - $ - $ 99,756 $ 10,243 Municipals 11 28,686 61 28,686 61 - - Total other securities 25 128,442 10,304 28,686 61 99,756 10,243 REMIC and CMO 56 337,184 12,370 189,028 4,658 148,156 7,712 FNMA 23 123,654 5,276 38,461 904 85,193 4,372 FHLMC 2 41,274 1,964 - - 41,274 1,964 Total mortgage-backed securities 81 502,112 19,610 227,489 5,562 274,623 14,048 Total 106 $ 630,554 $ 29,914 $ 256,175 $ 5,623 $ 374,379 $ 24,291 At December 31, 2017 Total Less than 12 months 12 months or more Count Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 20,844 $ 1,024 $ 20,844 $ 1,024 $ - $ - Total other securities 1 20,844 1,024 20,844 1,024 - - FNMA 1 7,810 163 7,810 163 - - Total mortgage-backed securities 1 7,810 163 7,810 163 - - Total securities held-to-maturity 2 $ 28,654 $ 1,187 $ 28,654 $ 1,187 $ - $ - Available for sale securities Corporate 14 $ 102,767 $ 7,233 $ 9,723 $ 277 $ 93,044 $ 6,956 Total other securities 14 102,767 7,233 9,723 277 93,044 6,956 REMIC and CMO 36 249,596 3,961 162,781 1,406 86,815 2,555 FNMA 17 120,510 1,054 109,258 850 11,252 204 FHLMC 2 46,829 335 43,258 294 3,571 41 Total mortgage-backed securities 55 416,935 5,350 315,297 2,550 101,638 2,800 Total securities available for sale 69 $ 519,702 $ 12,583 $ 325,020 $ 2,827 $ 194,682 $ 9,756 OTTI losses on impaired securities must be fully recognized in earnings if an investor has the intent to sell the debt security or if it is more likely than not not The Company reviewed each investment that had an unrealized loss at September 30, 2018 December 31, 2017. September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 It is not not not not none not September 30, 2018 December 31, 2017. Realized gains and losses on the sales of securities are determined using the specific identification method. The Company did not three nine September 30, 2018. $112.4 three nine September 30, 2017. The following table represents the gross gains and gross losses realized from the sale of securities available for sale for the periods indicated: For the three months ended For the nine months ended 2018 2017 2018 2017 (In thousands) Gross gains from the sale of securities $ - $ 401 $ - $ 401 Gross losses from the sale of securities - (587 ) - (587 ) Net losses from the sale of securities $ - $ (186 ) $ - $ (186 ) |
Note 5 - Loans
Note 5 - Loans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. Loans Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, deferred loan fees and costs on originated loans and unamortized premiums or discounts on purchased loans. Loan fees and certain loan origination costs are deferred. Net loan origination costs and premiums or discounts on loans purchased are amortized into interest income over the contractual life of the loans using the level-yield method. Prepayment penalties received on loans which pay in full prior to their scheduled maturity are included in interest income in the period they are collected. Interest on loans is recognized on the accrual basis. The accrual of income on loans is generally discontinued when certain factors, such as contractual delinquency of 90 90 not 90 first The Company recognizes a loan as non-performing when the borrower has demonstrated the inability to bring the loan current, or due to other circumstances which, in management’s opinion, indicate the borrower will be unable to bring the loan current within a reasonable time. All loans classified as non-performing, which includes all loans past due 90 90 A loan is considered impaired when, based upon current information, the Company believes it is probable that it will be unable to collect all amounts due, both principal and interest, in accordance with the original terms of the loan. Impaired loans are measured based on the present value of the expected future cash flows discounted at the loan’s effective interest rate or at the loan’s observable market price or, as a practical expedient, the fair value of the collateral if the loan is collateral dependent. All non-accrual loans are considered impaired. The Company maintains an allowance for loan losses at an amount, which, in management’s judgment, is adequate to absorb probable estimated losses inherent in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of loans. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revisions as more information becomes available. An unallocated component may The determination of the amount of the allowance for loan losses includes estimates that are susceptible to significant changes due to changes in appraisal values of collateral, national and local economic conditions and other factors. We review our loan portfolio by separate categories with similar risk and collateral characteristics. Impaired loans are segregated and reviewed separately. The Company reviews each impaired loan on an individual basis to determine if either a charge-off or a valuation allowance needs to be allocated to the loan. The Company does not The Company considers fair value of collateral dependent loans to be 85% 85% no Prior to the quarter ended September 30, 2018, two December 31, 2009 second January 1, 2010. 2009. September 30, 2018 no two January 1, 2010 11% January 1, 2010 $0.2 not 1.33 1.58 The Company evaluates the underlying collateral through a third third not The Company may may These restructurings have not six not six The allocation of a portion of the allowance for loan losses for a performing TDR loan is based upon the present value of the future expected cash flows discounted at the loan’s original effective rate, or for a non-performing TDR loan which is collateral dependent, the fair value of the collateral. At September 30, 2018, no not The following tables shows loans modified and classified as TDR during the periods indicated: For the three months ended September 30, 2018 September 30, 2017 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Taxi medallion - $ - 4 $ 1,306 Loan amortization extension Commercial business and other 1 1,620 Loan amortization extension - - Total 1 $ 1,620 4 $ 1,306 For the nine months ended September 30, 2018 September 30, 2017 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Taxi medallion - $ - 9 $ 5,595 All Loan amortization extension, with three loans also receiving a below market rate Commercial business and other 1 1,620 Loan amortization extension - - Total 1 $ 1,620 9 $ 5,595 The recorded investment of the loans modified and classified as TDR presented in the table above, were unchanged as there was no The following table shows our recorded investment for loans classified as TDR that are performing according to their restructured terms at the periods indicated: September 30, 2018 December 31, 2017 (Dollars in thousands) Number Recorded Number Recorded Multi-family residential 7 $ 1,927 9 $ 2,518 Commercial real estate - - 2 1,986 One-to-four family - mixed-use property 5 1,713 5 1,753 One-to-four family - residential 3 557 3 572 Taxi medallion 19 5,366 20 5,916 Commercial business and other 3 1,885 2 462 Total performing troubled debt restructured 37 $ 11,448 41 $ 13,207 During the nine September 30, 2018, one $1.8 $0.3 one $35,000, no 12 The following table shows our recorded investment for loans classified as TDR that are not September 30, 2018 December 31, 2017 Number Recorded Number Recorded Multi-family residential 1 $ 383 1 $ 383 Total troubled debt restructurings that subsequently defaulted 1 $ 383 1 $ 383 There were no three nine September 30, 2018 2017. The following table shows our non-performing loans at the periods indicated: (In thousands) September 30, December 31, Loans ninety days or more past due and still accruing: Commercial real estate $ 111 $ 2,424 Total 111 2,424 Non-accrual mortgage loans: Multi-family residential 862 3,598 Commercial real estate 1,398 1,473 One-to-four family - mixed-use property 795 1,867 One-to-four family - residential 6,610 7,808 Total 9,665 14,746 Non-accrual non-mortgage loans: Small Business Administration 1,395 46 Taxi medallion 712 918 Commercial business and other 761 - Total 2,868 964 Total non-accrual loans 12,533 15,710 Total non-performing loans $ 12,644 $ 18,134 The following is a summary of interest foregone on non-accrual loans and loans classified as TDR for the periods indicated: For the three months ended For the nine months ended 2018 2017 2018 2017 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 398 $ 401 $ 1,194 $ 1,249 Less: Interest income included in the results of operations 173 166 487 434 Total foregone interest $ 225 $ 235 $ 707 $ 815 The following tables show an age analysis of our recorded investment in loans, including loans past maturity, at the periods indicated: September 30, 2018 (In thousands) 30 - 59 Days 60 - 89 Days Greater Total Past Current Total Loans Multi-family residential $ 3,233 $ 486 $ 863 $ 4,582 $ 2,230,788 $ 2,235,370 Commercial real estate 562 2,025 1,509 4,096 1,456,459 1,460,555 One-to-four family - mixed-use property 1,657 362 796 2,815 562,487 565,302 One-to-four family - residential 1,382 266 6,610 8,258 180,717 188,975 Co-operative apartments - - - - 7,771 7,771 Construction loans - - - - 40,239 40,239 Small Business Administration 145 - 1,395 1,540 12,782 14,322 Taxi medallion - - - - 6,078 6,078 Commercial business and other 5 - 760 765 845,459 846,224 Total $ 6,984 $ 3,139 $ 11,933 $ 22,056 $ 5,342,780 $ 5,364,836 December 31, 2017 (In thousands) 30 - 59 Days 60 - 89 Days Greater Total Past Current Total Loans Multi-family residential $ 2,533 $ 279 $ 3,598 $ 6,410 $ 2,267,185 $ 2,273,595 Commercial real estate 1,680 2,197 3,897 7,774 1,360,338 1,368,112 One-to-four family - mixed-use property 1,570 860 1,867 4,297 559,909 564,206 One-to-four family - residential 1,921 680 7,623 10,224 170,439 180,663 Co-operative apartments - - - - 6,895 6,895 Construction loans - - - - 8,479 8,479 Small Business Administration - - - - 18,479 18,479 Taxi medallion - 108 - 108 6,726 6,834 Commercial business and other 2 - - 2 732,971 732,973 Total $ 7,706 $ 4,124 $ 16,985 $ 28,815 $ 5,131,421 $ 5,160,236 The following tables show the activity in the allowance for loan losses for the three September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,538 $ 4,726 $ 2,297 $ 1,003 $ 264 $ 549 $ - $ 5,832 $ 11 $ 20,220 Charge-off's (18 ) - (3 ) - - (144 ) (40 ) (15 ) - (220 ) Recoveries - - 39 258 - 10 - 2 - 309 Provision (Benefit) 37 (650 ) (407 ) (382 ) (2 ) 138 40 1,186 40 - Ending balance $ 5,557 $ 4,076 $ 1,926 $ 879 $ 262 $ 553 $ - $ 7,005 $ 51 $ 20,309 September 30, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,917 $ 4,688 $ 2,568 $ 990 $ 130 $ 306 $ 2,330 $ 4,668 $ 560 $ 22,157 Charge-off's (290 ) - (1 ) - - - - (33 ) - (324 ) Recoveries 66 25 - 58 - 17 - 4 - 170 Provision (Benefit) 43 (86 ) (49 ) (90 ) (13 ) 70 3,661 290 (560 ) 3,266 Ending balance $ 5,736 $ 4,627 $ 2,518 $ 958 $ 117 $ 393 $ 5,991 $ 4,929 $ - $ 25,269 The following tables show the activity in the allowance for loan losses for the nine September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,823 $ 4,643 $ 2,545 $ 1,082 $ 68 $ 669 $ - $ 5,521 $ - $ 20,351 Charge-off's (99 ) - (3 ) (1 ) - (196 ) (393 ) (29 ) - (721 ) Recoveries 2 - 118 370 - 25 - 11 - 526 Provision (Benefit) (169 ) (567 ) (734 ) (572 ) 194 55 393 1,502 51 153 Ending balance $ 5,557 $ 4,076 $ 1,926 $ 879 $ 262 $ 553 $ - $ 7,005 $ 51 $ 20,309 September 30, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,923 $ 4,487 $ 2,903 $ 1,015 $ 92 $ 481 $ 2,243 $ 4,492 $ 593 $ 22,229 Charge-off's (452 ) (4 ) (36 ) (170 ) - (89 ) (54 ) (48 ) - (853 ) Recoveries 297 93 68 58 - 66 - 45 - 627 Provision (Benefit) (32 ) 51 (417 ) 55 25 (65 ) 3,802 440 (593 ) 3,266 Ending balance $ 5,736 $ 4,627 $ 2,518 $ 958 $ 117 $ 393 $ 5,991 $ 4,929 $ - $ 25,269 The following tables show the manner in which loans were evaluated for impairment at the periods indicated: September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family- residential Co-operative apartments Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Financing Receivables: Ending Balance $ 2,235,370 $ 1,460,555 $ 565,302 $ 188,975 $ 7,771 $ 40,239 $ 14,322 $ 6,078 $ 846,224 $ - $ 5,364,836 Ending balance: individually evaluated for impairment $ 5,023 $ 4,206 $ 3,680 $ 7,561 $ - $ - $ 1,429 $ 6,078 $ 25,059 $ - $ 53,036 Ending balance: collectively evaluated for impairment $ 2,230,347 $ 1,456,349 $ 561,622 $ 181,414 $ 7,771 $ 40,239 $ 12,893 $ - $ 821,165 $ - $ 5,311,800 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 102 $ - $ 151 $ 53 $ - $ - $ - $ - $ 2 $ - $ 308 Ending balance: collectively evaluated for impairment $ 5,455 $ 4,076 $ 1,775 $ 826 $ - $ 262 $ 553 $ - $ 7,003 $ 51 $ 20,001 December 31, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family- residential Co-operative apartments Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Financing Receivables: Ending Balance $ 2,273,595 $ 1,368,112 $ 564,206 $ 180,663 $ 6,895 $ 8,479 $ 18,479 $ 6,834 $ 732,973 $ - $ 5,160,236 Ending balance: individually evaluated for impairment $ 7,311 $ 9,089 $ 5,445 $ 9,686 $ - $ - $ 137 $ 6,834 $ 661 $ - $ 39,163 Ending balance: collectively evaluated for impairment $ 2,266,284 $ 1,359,023 $ 558,761 $ 170,977 $ 6,895 $ 8,479 $ 18,342 $ - $ 732,312 $ - $ 5,121,073 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 205 $ 177 $ 198 $ 56 $ - $ - $ - $ - $ 6 $ - $ 642 Ending balance: collectively evaluated for impairment $ 5,618 $ 4,466 $ 2,347 $ 1,026 $ - $ 68 $ 669 $ - $ 5,515 $ - $ 19,709 The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses for impaired loans at the periods indicated: September 30, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,741 $ 4,288 $ - $ 5,091 $ 5,539 $ - Commercial real estate 4,206 4,206 - 7,103 7,103 - One-to-four family mixed-use property 2,484 2,703 - 4,218 4,556 - One-to-four family residential 7,158 7,792 - 9,272 10,489 - Non-mortgage loans: Small Business Administration 1,429 1,577 - 137 151 - Taxi medallion 6,078 17,343 - 6,834 18,063 - Commercial business and other 24,773 25,142 - 313 682 - Total loans with no related allowance recorded 49,869 63,051 - 32,968 46,583 - With an allowance recorded: Mortgage loans: Multi-family residential 1,282 1,282 102 2,220 2,220 205 Commercial real estate - - - 1,986 1,986 177 One-to-four family mixed-use property 1,196 1,196 151 1,227 1,227 198 One-to-four family residential 403 403 53 414 414 56 Non-mortgage loans: Commercial business and other 286 286 2 348 348 6 Total loans with an allowance recorded 3,167 3,167 308 6,195 6,195 642 Total Impaired Loans: Total mortgage loans $ 20,470 $ 21,870 $ 306 $ 31,531 $ 33,534 $ 636 Total non-mortgage loans $ 32,566 $ 44,348 $ 2 $ 7,632 $ 19,244 $ 6 The following table shows our average recorded investment and interest income recognized for impaired loans for the three September 30, 2018 September 30, 2017 Average Interest Average Interest (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 4,013 $ 31 $ 2,451 $ 12 Commercial real estate 4,587 50 5,142 60 One-to-four family mixed-use property 3,452 28 5,269 45 One-to-four family residential 7,742 7 10,023 29 Construction 365 - 890 15 Non-mortgage loans: Small Business Administration 739 31 260 5 Taxi medallion 6,152 84 3,177 19 Commercial business and other 20,301 482 1,254 6 Total loans with no related allowance recorded 47,351 713 28,466 191 With an allowance recorded: Mortgage loans: Multi-family residential 1,740 19 2,242 28 Commercial real estate - - 2,040 24 One-to-four family mixed-use property 1,201 15 1,445 16 One-to-four family residential 405 4 422 4 Non-mortgage loans: Taxi medallion - - 14,716 73 Commercial business and other 297 4 385 5 Total loans with an allowance recorded 3,643 42 21,250 150 Total Impaired Loans: Total mortgage loans $ 23,505 $ 154 $ 29,924 $ 233 Total non-mortgage loans $ 27,489 $ 601 $ 19,792 $ 108 The following table shows our average recorded investment and interest income recognized for impaired loans for the nine September 30, 2018 September 30, 2017 Average Interest Average Interest (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 4,201 $ 67 $ 2,650 $ 57 Commercial real estate 5,300 176 5,881 214 One-to-four family mixed-use property 3,759 108 5,399 123 One-to-four family residential 7,974 32 10,062 85 Construction 243 10 794 22 Non-mortgage loans: Small Business Administration 526 33 230 9 Taxi medallion 6,307 252 3,771 74 Commercial business and other 13,560 792 1,584 93 Total loans with no related allowance recorded 41,870 1,470 30,371 677 With an allowance recorded: Mortgage loans: Multi-family residential 1,896 78 2,391 107 Commercial real estate 1,206 39 2,039 72 One-to-four family mixed-use property 407 12 1,379 50 One-to-four family residential - - 422 12 Non-mortgage loans: Taxi medallion - - 14,663 166 Commercial business and other 307 13 383 17 Total loans with an allowance recorded 3,816 142 21,277 424 Total Impaired Loans: Total mortgage loans $ 24,986 $ 522 $ 31,017 $ 742 Total non-mortgage loans $ 20,700 $ 1,090 $ 20,631 $ 359 In accordance with our policy and the current regulatory guidelines, we designate loans as “Special Mention,” which are considered “Criticized Loans,” and “Substandard,” “Doubtful,” or “Loss,” which are considered “Classified Loans”. If a loan does not one may not not one The following table sets forth the recorded investment in loans designated as Criticized or Classified at the periods indicated: September 30, 2018 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 3,092 $ 3,095 $ - $ - $ 6,187 Commercial real estate 2,969 4,206 - - 7,175 One-to-four family - mixed-use property 1,215 1,967 - - 3,182 One-to-four family - residential 480 7,005 - - 7,485 Small Business Administration 487 274 - - 761 Taxi medallion - 6,078 - - 6,078 Commercial business and other 749 25,050 - - 25,799 Total loans $ 8,992 $ 47,675 $ - $ - $ 56,667 December 31, 2017 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 6,389 $ 4,793 $ - $ - $ 11,182 Commercial real estate 2,020 8,871 - - 10,891 One-to-four family - mixed-use property 2,835 3,691 - - 6,526 One-to-four family - residential 2,076 9,115 - - 11,191 Small Business Administration 548 108 - - 656 Taxi medallion - 6,834 - - 6,834 Commercial business and other 14,859 545 - - 15,404 Total loans $ 28,727 $ 33,957 $ - $ - $ 62,684 Commitments to extend credit (principally real estate mortgage loans) and lines of credit (principally home equity lines of credit and business lines of credit) amounted to $45.0 $304.1 September 30, 2018. |
Note 6 - Loans Held for Sale
Note 6 - Loans Held for Sale | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans Held for Sale [Text Block] | 6. Loans held for sale Loans held for sale are carried at the lower of cost or estimated fair value. At September 30, 2018 December 31, 2017, not The Company has implemented a strategy of selling certain delinquent and non-performing loans. Once the Company has decided to sell a loan, the sale usually closes in a short period of time, generally within the same quarter. Loans designated held for sale are reclassified from loans held for investment to loans held for sale. Terms of sale include cash due upon the closing of the sale, no may The following tables show loans sold during the period indicated: For the three months ended September 30, 2018 (Dollars in thousands) Loans sold Proceeds Net Recoveries Net gain Delinquent and non-performing loans Multi-family residential 1 $ 595 $ - $ - Commercial real estate 1 2,500 - - One-to-four family - mixed-use property 2 725 (4 ) - One-to-four family - residential 2 390 72 10 Total 6 $ 4,210 $ 68 $ 10 For the three months ended September 30, 2017 (Dollars in thousands) Loans sold Proceeds Net gain (loss) Delinquent and non-performing loans Multi-family residential 2 $ 707 $ 30 Commercial real estate 3 1,118 34 One-to-four family - mixed-use property 3 913 115 Total 8 $ 2,738 $ 179 Performing loans Multi-family residential 10 $ 12,704 $ (22 ) Commercial real estate 2 17,832 (7 ) Small Business Administration 1 142 2 Total 13 $ 30,678 $ (27 ) For the nine months ended September 30, 2018 (Dollars in thousands) Loans sold Proceeds Net Recoveries Net gain (loss) Delinquent and non-performing loans Multi-family residential 4 $ 1,559 $ - $ - Commercial real estate 4 6,065 - (235 ) One-to-four family - mixed-use property 2 725 (4 ) - One-to-four family - residential 2 390 72 10 Total 12 $ 8,739 $ 68 $ (225 ) Performing loans Small Business Administration 9 $ 5,671 $ - $ 393 Total 9 $ 5,671 $ - $ 393 For the nine months ended September 30, 2017 (Dollars in thousands) Loans sold Proceeds Net charge-offs Net gain (loss) Delinquent and non-performing loans Multi-family residential 2 $ 707 $ - $ 30 Commercial real estate 4 1,453 (4 ) 35 One-to-four family - mixed-use property 8 2,703 (33 ) 143 Total 14 $ 4,863 $ (37 ) $ 208 Performing loans Multi-family residential 12 $ 18,784 $ - $ (36 ) Commercial real estate 7 26,283 - (28 ) Small Business Administration 8 5,061 - 252 Total 27 $ 50,128 $ - $ 188 |
Note 7 - Other Real Estate Owne
Note 7 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 7. Other Real Estate Owned During the nine September 30, 2018 one $0.6 three September 30, 2018 three nine September 30, 2017, not not September 30, 2018 December 31, 2017. September 30, 2018 December 31, 2017 $8.1 $10.5 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8. Stock-Based Compensation For the three September 30, 2018 2017, $1.1 $1.1 $0.2 $0.4 nine September 30, 2018 2017, $5.7 $5.2 $1.2 $1.7 no three September 30, 2018 2017. nine September 30, 2018 2017, 280,590 276,900 not 2009. September 30, 2018, 600 100% $8.44 The Company uses the fair value of the common stock on the date of award to measure compensation cost for restricted stock unit awards. Compensation cost is recognized over the vesting period of the award using the straight-line method. The following table summarizes the Company’s restricted stock unit (“RSU”) awards at or for the nine September 30, 2018: Weighted-Average Non-vested at December 31, 2017 497,322 $ 22.46 Granted 280,590 28.19 Vested (248,319 ) 23.68 Forfeited (11,955 ) 25.31 Non-vested at September 30, 2018 517,638 $ 24.91 Vested but unissued at September 30, 2018 234,799 $ 25.14 As of September 30, 2018, $9.4 3.0 three September 30, 2018 2017 $0.2 $14,000, nine September 30, 2018 2017 $7.0 no Phantom Stock Plan: one The following table summarizes the Phantom Stock Plan at or for the nine September 30, 2018: Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2017 89,180 $ 27.50 Granted 9,750 27.47 Forfeited - - Distributions (65 ) 26.16 Outstanding at September 30, 2018 98,865 $ 24.40 Vested at September 30, 2018 98,397 $ 24.40 The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $0.1 $0.2 three September 30, 2018 2017, $1,000 $0.2 three September 30, 2018 2017, For the nine September 30, 2018 2017, $0.2 $0.1 $2,000 $0.2 nine September 30, 2018 2017, |
Note 9 - Pension and Other Post
Note 9 - Pension and Other Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 9. Pension and Other Postretirement Benefit Plans The following table sets forth information regarding the components of net expense for the pension and other postretirement benefit plans. Three months ended Nine months ended (In thousands) 2018 2017 2018 2017 Employee Pension Plan: Interest cost $ 195 $ 216 $ 585 $ 648 Amortization of unrecognized loss 155 174 465 523 Expected return on plan assets (363 ) (348 ) (1,089 ) (1,044 ) Net employee pension ( benefit) expense $ (13 ) $ 42 $ (39 ) $ 127 Outside Director Pension Plan: Service cost $ 11 $ 10 $ 33 $ 30 Interest cost 19 23 60 69 Amortization of unrecognized gain (23 ) (23 ) (69 ) (69 ) Amortization of past service liability 3 10 9 30 Net outside director pension expense $ 10 $ 20 $ 33 $ 60 Other Postretirement Benefit Plans: Service cost $ 88 $ 79 $ 264 $ 237 Interest cost 77 76 231 228 Amortization of past service credit (13 ) (21 ) (37 ) (64 ) Net other postretirement expense $ 152 $ 134 $ 458 $ 401 The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2017 $ 0.2 December 31, 2018. not September 30, 2018, $72,000 $64,000 September 30, 2018, not December 31, 2018. |
Note 10 - Fair Value of Financi
Note 10 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10. Fair Value of Financial Instruments The Company carries certain financial assets and financial liabilities at fair value in accordance with GAAP which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, establishes a framework for measuring fair value and expands disclosures about fair value measurements. GAAP permits entities to choose to measure many financial instruments and certain other items at fair value. At September 30, 2018, $13.9 $40.2 December 31, 2017, $14.3 $37.0 not three nine September 30, 2018. The following table presents the financial assets and financial liabilities reported at fair value under the fair value option, and the changes in fair value included in the Consolidated Statement of Income – Net gain (loss) from fair value adjustments, at or for the periods ended as indicated: Fair Value Fair Value Changes in Fair Values For Items Measured at Fair Value Measurements Measurements Pursuant to Election of the Fair Value Option at September 30, at December 31, Three Months Ended Nine Months Ended (In thousands) 2018 2017 September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Mortgage-backed securities $ 1,330 $ 1,590 $ (6 ) $ (5 ) $ (17 ) $ (15 ) Other securities 12,610 12,685 (72 ) 40 (272 ) 184 Borrowed funds 40,151 36,986 (607 ) (925 ) (3,155 ) (2,090 ) Net loss from fair value adjustments (1)(2) $ (685 ) $ (890 ) $ (3,444 ) $ (1,921 ) ( 1 The net loss from fair value adjustments presented in the above table does not $0.5 $0.4 three September 30, 2018 2017, ( 2 The net loss from fair value adjustments presented in the above table does not $2.9 $0.9 nine September 30, 2018 2017, Included in the fair value of the financial assets and financial liabilities selected for the fair value option is the accrued interest receivable or payable for the related instrument. The Company reports as interest income or interest expense in the Consolidated Statement of Income, the interest receivable or payable on the financial instruments selected for the fair value option at their respective contractual rates. The borrowed funds had a contractual principal amount of $ 61.9 September 30, 2018 December 31, 2017. $ 0.2 September 30, 2018 December 31, 2017. The Company generally holds its earning assets, other than securities available for sale, to maturity and settles its liabilities at maturity. However, fair value estimates are made at a specific point in time and are based on relevant market information. These estimates do not one may not Disclosure of fair value does not not Further, fair value disclosure does not may not Financial assets and financial liabilities reported at fair value are required to be measured based on either: ( 1 1 2 2 3 3 A description of the methods and significant assumptions utilized in estimating the fair value of the Company’s assets and liabilities that are carried at fair value on a recurring basis are as follows: Level 1 September 30, 2018 December 31, 2017, 1 one Level 2 not not September 30, 2018 December 31, 2017, 2 Level 3 3. September 30, 2018 December 31, 2017, 3 The methods described above may may not The following table sets forth the assets and liabilities that are carried at fair value on a recurring basis and their respective category in the fair value hierarchy, at September 30, 2018 December 31, 2017: Quoted Prices Significant Other Significant Other Total carried at fair value 2018 2017 2018 2017 2018 2017 2018 2017 (In thousands) Assets: Mortgage-backed Securities $ - $ - $ 528,119 $ 509,650 $ - $ - $ 528,119 $ 509,650 Other securities 11,405 11,575 220,303 216,019 1,205 1,110 232,913 228,704 Interest rate swaps - - 32,600 7,388 - - 32,600 7,388 Total assets $ 11,405 $ 11,575 $ 781,022 $ 733,057 $ 1,205 $ 1,110 $ 793,632 $ 745,742 Liabilities: Borrowings $ - $ - $ - $ - $ 40,151 $ 36,986 $ 40,151 $ 36,986 Interest rate swaps - - 449 3,758 - - 449 3,758 Total liabilities $ - $ - $ 449 $ 3,758 $ 40,151 $ 36,986 $ 40,600 $ 40,744 The following tables sets forth the Company's assets and liabilities that are carried at fair value on a recurring basis, classified within Level 3 For the three months ended September 30, 2018 September 30, 2017 Trust preferred Junior subordinated Trust preferred Junior subordinated (In thousands) Beginning balance $ 1,188 $ 39,566 $ 7,444 $ 35,137 Security Call - - (6,300 ) - Net gain from fair value adjustment of financial assets (1) 17 - 28 - Net loss from fair value adjustment of financial liabilities (1) - 607 - 925 Decrease in accrued interest receivable - - (89 ) - Increase (decrease) in accrued interest payable - (9 ) - 9 Change in unrealized gains (losses) included in other comprehensive income - (13 ) - - Ending balance $ 1,205 $ 40,151 $ 1,083 $ 36,071 Changes in unrealized gains (losses) held at period end $ - $ (13 ) $ - $ - For the nine months ended September 30, 2018 September 30, 2017 Trust preferred Junior subordinated Trust preferred Junior subordinated (In thousands) Beginning balance $ 1,110 $ 36,986 $ 7,361 $ 33,959 Security call - - (6,300 ) - Net gain from fair value adjustment of financial assets (1) 94 - 108 - Net loss from fair value adjustment of financial liabilities (1) 3,155 - 2,090 Increase (Decrease) in accrued interest receivable 1 - (88 ) - Increase in accrued interest payable - 42 - 22 Change in unrealized gains (losses) included in other comprehensive income - (32 ) 2 - Ending balance $ 1,205 $ 40,151 $ 1,083 $ 36,071 Changes in unrealized gains (losses)held at period end $ - $ (32 ) $ 2 $ - ( 1 Totals in the table above are presented in the Consolidated Statement of Income under net gains (losses) from fair value adjustments. During the three nine September 30, 2018 2017, no 1, 2 3. The following tables present the quantitative information about recurring Level 3 September 30, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,205 Discounted cash flows Discount rate n/a 5.1 % Liabilities: Junior subordinated debentures $ 40,151 Discounted cash flows Discount rate n/a 5.1 % December 31, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,110 Discounted cash flows Discount rate n/a 5.7 % Liabilities: Junior subordinated debentures $ 36,986 Discounted cash flows Discount rate n/a 5.7 % The significant unobservable inputs used in the fair value measurement of the Company’s trust preferred securities and junior subordinated debentures valued under Level 3 September 30, 2018 December 31, 2017, The following table sets forth the Company’s assets and liabilities that are carried at fair value on a non-recurring basis and their respective category in the fair value hierarchy at September 30, 2018 December 31, 2017: Quoted Prices Significant Other Significant Other Total carried at fair value 2018 2017 2018 2017 2018 2017 2018 2017 (In thousands) Assets: Impaired loans $ - $ - $ - $ - $ 12,798 $ 16,027 $ 12,798 $ 16,027 Other repossesed assets - - - - 35 - 35 - Total assets $ - $ - $ - $ - $ 12,833 $ 16,027 $ 12,833 $ 16,027 The following tables present the qualitative information about non-recurring Level 3 September 30, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 1,525 Income approach Capitalization rate 6.5% to 7.5% 7.0% Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 8,358 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -50.0% to 15.0% -2.1% Reduction for planned expedited disposal -38.6% to 15.0% 11.1% Impaired loans $ 2,915 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 25.0% -1.2% Capitalization rate 5.0% to 9.8% 7.5% Reduction for planned expedited disposal 15.0% 15.0% Other repossesed assets $ 35 Sales approach Reduction for planned expediated disposal 15.0% 15.0% December 31, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 1,818 Income approach Capitalization rate 6.5% to 7.5% 6.8% Reduction planned for expedited disposal 15.0% 15.0% Impaired loans $ 10,003 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -50.0% to 16.2% -0.8% Reduction planned for expedited disposal -30.9% to 15.0% 8.7% Impaired loans $ 4,206 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 25.0% -1.2% Capitalization rate 5.0% to 9.8% 7.2% Reduction planned for expedited disposal 15.0% 15.0% The Company did not September 30, 2018 December 31, 2017. The methods and assumptions used to estimate fair value at September 30, 2018 December 31, 2017 Securities: The fair values of securities are contained in Note 4 not Impaired Loans: For non-accruing loans, fair value is generally estimated by discounting management’s estimate of future cash flows with a discount rate commensurate with the risk associated with such assets or, for collateral dependent loans, 85% no Other Real Estate Owned and Other Repossessed Assets: OREO and other repossessed assets are carried at fair value less selling costs. The fair value for OREO is based on appraised value through a current appraisal, or sometimes through an internal review, additionally adjusted by the estimated costs to sell the property. The fair value for other repossessed assets are based upon the most recently reported arm’s length sales transaction. When there is no Junior Subordinated Debentures: The fair value of the junior subordinated debentures was developed using a credit spread based on the subordinated debt issued by the Company adjusting for differences in the junior subordinated debt’s credit rating, liquidity and time to maturity. The unrealized net gain/loss attributable to changes in our own credit risk was determined by adjusting the fair value as determined in the proceeding sentence by the average rate of default on debt instruments with a similar debt rating as our junior subordinated debentures, with the difference from the original calculation and this calculation resulting in the instrument-specific unrealized gain/loss. Interest Rate Swaps: The fair value of interest rate swaps is based upon broker quotes. The following tables set forth the carrying amounts and estimated fair values of selected financial instruments based on the assumptions described above used by the Company in estimating fair value at the periods indicated: September 30, 2018 Carrying Fair Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 45,094 $ 45,094 $ 45,094 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,958 7,221 - 7,221 - Other securities 23,207 20,996 - - 20,996 Securities available for sale Mortgage-backed securities 528,119 528,119 - 528,119 - Other securities 232,913 232,913 11,405 220,303 1,205 Loans 5,380,062 5,301,783 - - 5,301,783 FHLB-NY stock 54,942 54,942 - 54,942 - Accrued interest receivable 24,673 24,673 5 1,962 22,706 Interest rate swaps 32,600 32,600 - 32,600 - Liabilities: Deposits $ 4,716,315 $ 4,706,114 $ 3,153,353 $ 1,552,761 $ - Borrowings 1,197,101 1,184,589 - 1,144,438 40,151 Accrued interest payable 6,732 6,732 - 6,732 - Interest rate swaps 449 449 - 449 - December 31, 2017 Carrying Fair Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 51,546 $ 51,546 $ 51,546 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,973 7,810 - 7,810 - Other securities 22,913 21,889 - - 21,889 Securities available for sale Mortgage-backed securities 509,650 509,650 - 509,650 - Other securities 228,704 228,704 11,575 216,019 1,110 Loans 5,176,999 5,169,108 - - 5,169,108 FHLB-NY stock 60,089 60,089 - 60,089 - Accrued interest receivable 21,405 21,405 16 1,916 19,473 Interest rate swaps 7,388 7,388 - 7,388 - Liabilities: Deposits $ 4,383,278 $ 4,380,174 $ 3,031,345 $ 1,348,829 $ - Borrowings 1,309,653 1,310,487 - 1,273,501 36,986 Accrued interest payable 2,659 2,659 - 2,659 - Interest rate swaps 3,758 3,758 - 3,758 - |
Note 11 - Derivative Financial
Note 11 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 11. Derivative Financial Instruments At September 30, 2018 December 31, 2017, three 1 $ 18.0 $ 61.9 September 30, 2018 December 31, 2017; 2 $288.1 $280.2 September 30, 2018 December 31, 2017, 3 $ 441.5 September 30, 2018 December 31, 2017. At September 30, 2018 December 31, 2017, not The Company’s derivative instruments are carried at fair value in the Company’s financial statements as part of Other Assets for derivatives with positive fair values and Other Liabilities for derivatives with negative fair values. The accounting for changes in the fair value of a derivative instrument is dependent upon whether or not At September 30, 2018 December 31, 2017, $ 36.3 not September 30, 2018 December 31, 2017, $269.7 $261.9 September 30, 2018 December 31, 2017, $ 441.5 For cash flow hedges, the effective portion of changes in the fair value of the derivative is reported in AOCL, net of tax, with the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. Amounts in accumulated other comprehensive income are reclassified into earnings in the same period during which the hedged forecasted transaction effects earnings. During the three nine September 30, 2018, $0.1 $0.2 Changes in the fair value of interest rate swaps not The following table sets forth information regarding the Company’s derivative financial instruments at the periods indicated: September 30, 2018 December 31, 2017 (In thousands) Notional Net Carrying (1) Notional Net Carrying (1) Interest rate swaps (fair value hedge) $ 269,734 $ 18,150 $ 199,341 $ 6,971 Interest rate swaps (fair value hedge) - - 62,564 (921 ) Interest rate swaps (cash flow hedge) 441,500 14,450 250,000 417 Interest rate swaps (cash flow hedge) - - 191,500 (7 ) Interest rate swaps (non-hedge) 36,321 (449 ) 36,321 (2,830 ) Total derivatives $ 747,555 $ 32,151 $ 739,726 $ 3,630 ( 1 Derivatives in a net positive position are recorded as “Other assets” and derivatives in a net negative position are recorded as “Other liabilities” in the Consolidated Statements of Financial Condition. The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income for the periods indicated: For the three months ended For the nine months ended (In thousands) 2018 2017 2018 2017 Financial Derivatives: Interest rate swaps (non-hedge) $ 668 $ (56 ) $ 2,382 $ (316 ) Interest rate swaps (fair value hedge) (153 ) (351 ) 525 (597 ) Net gain (1) $ 515 $ (407 ) $ 2,907 $ (913 ) ( 1 Net gains and losses are recorded as part of “Net gain/loss from fair value adjustments” in the Consolidated Statements of Income. During the three nine September 30, 2018 2017, not The Company’s interest rate swaps are subject to master netting arrangements between the Company and its two not The following tables present the effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition as of the dates indicated: September 30, 2018 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Condition Net Amount of Assets Presented in the Statement of Condition Financial Instruments Cash Collateral Received Net Amount Interest rate swaps $ 32,600 $ - $ 32,600 $ - $ 32,990 $ (390 ) Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Liabilities Gross Amount Offset in the Statement of Condition Net Amount of Liabilities Presented in the Statement of Condition Financial Instruments Cash Collateral Pledged Net Amount Interest rate swaps $ 449 $ - $ 449 $ - $ - $ 449 December 31, 2017 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Condition Net Amount of Assets Presented in the Statement of Condition Financial Instruments Cash Collateral Received Net Amount Interest rate swaps $ 7,388 $ - $ 7,388 $ - $ 3,660 $ 3,728 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Liabilities Gross Amount Offset in the Statement of Condition Net Amount of Liabilities Presented in the Statement of Condition Financial Instruments Cash Collateral Pledged Net Amount Interest rate swaps $ 3,758 $ - $ 3,758 $ - $ - $ 3,758 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. Income Taxes Flushing Financial Corporation files consolidated Federal and combined New York State and New York City income tax returns with its subsidiaries, with the exception of the Company’s trusts, which file separate Federal income tax returns as trusts, and Flushing Preferred Funding Corporation, which files a separate Federal income tax return as a real estate investment trust. Additionally, the Bank files New Jersey State tax returns. As of September 30, 2018, 2015, 2014, 2015 2016 2014. Income tax provisions are summarized as follows: For the three months For the nine months (In thousands) 2018 2017 2018 2017 Federal: Current $ 2,899 $ 6,703 $ 9,064 $ 16,308 Deferred (592 ) (2,023 ) (839 ) (1,303 ) Total federal tax provision 2,307 4,680 8,225 15,005 State and Local: Current 33 1,398 1,722 2,817 Deferred (430 ) (787 ) (598 ) (502 ) Total state and local tax provision (benefit) (397 ) 611 1,124 2,315 Total income tax provision $ 1,910 $ 5,291 $ 9,349 $ 17,320 |
Note 13 - Accumulated Other Com
Note 13 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 13. Accumulated Other Comprehensive Income (Loss): The following tables sets forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated: For the three months ended September 30, 2018 Unrealized Gains Unrealized Gains Defined Benefit Fair Value Total (In thousands) Beginning balance, net of tax $ (16,501 ) $ 8,027 $ (4,325 ) $ 792 $ (12,007 ) Other comprehensive income before reclassifications, net of tax (3,505 ) 1,950 - 9 (1,546 ) Amounts reclassified from accumulated other comprehensive income, net of tax - (80 ) 84 - 4 Net current period other comprehensive income (loss), net of tax (3,505 ) 1,870 84 9 (1,542 ) Ending balance, net of tax $ (20,006 ) $ 9,897 $ (4,241 ) $ 801 $ (13,549 ) For the three months ended Septmber 30, 2017 Unrealized Gains Unrealized Gains Defined Benefit Total (In thousands) Beginning balance, net of tax $ (2,110 ) $ (124 ) $ (4,342 ) $ (6,576 ) Other comprehensive income before (333 ) 56 - (277 ) Amounts reclassified from accumulated other 108 - 81 189 Net current period other comprehensive (225 ) 56 81 (88 ) Ending balance, net of tax $ (2,335 ) $ (68 ) $ (4,261 ) $ (6,664 ) For the nine months ended September 30, 2018 Unrealized Gains Unrealized Gains Defined Benefit Fair Value Total (In thousands) Beginning balance, net of tax $ (5,522 ) $ 231 $ (3,695 ) $ - $ (8,986 ) Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from AOCL to Retained Earnings (1,325 ) 50 (798 ) - (2,073 ) Impact of adoption of Accounting Standard Update 2016-01 - - - 779 779 Other comprehensive income before reclassifications, net of tax (13,159 ) 9,455 - 22 (3,682 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax - 161 252 - 413 Net current period other comprehensive income, net of tax (13,159 ) 9,616 252 22 (3,269 ) Ending balance, net of tax $ (20,006 ) $ 9,897 $ (4,241 ) $ 801 $ (13,549 ) For the nine months ended September 30, 2017 Unrealized Gains Unrealized Gains Defined Benefit Total (In thousands) Beginning balance, net of tax $ (3,859 ) $ - $ (4,503 ) $ (8,362 ) Other comprehensive income before reclassifications, net of tax 1,416 (68 ) - 1,348 Amounts reclassified from accumulated other comprehensive income, net of tax 108 - 242 350 Net current period other comprehensive income, net of tax 1,524 (68 ) 242 1,698 Ending balance, net of tax $ (2,335 ) $ (68 ) $ (4,261 ) $ (6,664 ) The following tables set forth significant amounts reclassified from accumulated other comprehensive income (loss) by component for the periods indicated: For the three months ended September 30, 2018 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Cash flow hedges: Interest rate swaps $ 116 Other interest expense (36) Tax expense $ 80 Net of tax Amortization of defined benefit pension items: Actuarial losses $ (132) (1) Other operating expense Prior service credits 10 (1) Other operating expense (122) Total before tax 38 Tax benefit $ (84) Net of tax For the three months ended September 30, 2017 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Unrealized losses on available for sale securities: $ (186) Net loss on sale of securities 78 Tax benefit $ (108) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (152) (1) Other operating expense Prior service credits 12 (1) Other operating expense (140) Total before tax 59 Tax benefit $ (81) Net of tax For the nine months ended September 30, 2018 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Cash flow hedges: Interest rate swaps $ (235) Interest expense 74 Tax benefit $ (161) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (396) (1) Other operating expense Prior service credits 28 (1) Other operating expense (368) Total before tax 116 Tax benefit $ (252) Net of tax For the nine months ended September 30, 2017 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Unrealized losses on available for sale securities: $ (186) Net loss on sale of securities 78 Tax benefit $ (108) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (454) (1) Other operating expense Prior service credits 34 (1) Other operating expense (420) Total before tax 178 Tax benefit $ (242) Net of tax ( 1 These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (See Note 9 |
Note 14 - Regulatory Capital
Note 14 - Regulatory Capital | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 14. Regulatory Capital Under current capital regulations, the Bank is required to comply with four September 30, 2018, 2016, 2018 1.875% 0.625% 2019 2.5%. September 30, 2018 5.88%. Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards. September 30, 2018 December 31, 2017 Amount Percent of Amount Percent of (Dollars in thousands) Tier I (leverage) capital: Capital level $ 655,965 10.12 % $ 631,285 10.11 % Requirement to be well capitalized 324,032 5.00 312,343 5.00 Excess 331,933 5.12 318,942 5.11 Common Equity Tier I risk-based capital: Capital level $ 655,965 13.46 % $ 631,285 13.87 % Requirement to be well capitalized 316,766 6.50 295,937 6.50 Excess 339,199 6.96 335,348 7.37 Tier 1 risk-based capital: Capital level $ 655,965 13.46 % $ 631,285 13.87 % Requirement to be well capitalized 389,865 8.00 364,230 8.00 Excess 266,100 5.46 267,055 5.87 Total risk-based capital: Capital level $ 676,274 13.88 % $ 651,636 14.31 % Requirement to be well capitalized 487,332 10.00 455,288 10.00 Excess 188,942 3.88 196,348 4.31 The Holding Company is subject to the same regulatory capital requirements as the Bank. As of September 30, 2018, September 30, 2018 5.82%. Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards. September 30, 2018 December 31, 2017 Amount Percent of Amount Percent of (Dollars in thousands) Tier I (leverage) capital: Capital level $ 578,034 8.92 % $ 563,426 9.02 % Requirement to be well capitalized 324,008 5.00 312,278 5.00 Excess 254,026 3.92 251,148 4.02 Common Equity Tier I risk-based capital: Capital level $ 539,306 11.07 % $ 527,727 11.59 % Requirement to be well capitalized 316,714 6.50 295,865 6.50 Excess 222,592 4.57 231,862 5.09 Tier 1 risk-based capital: Capital level $ 578,034 11.86 % $ 563,426 12.38 % Requirement to be well capitalized 389,801 8.00 364,141 8.00 Excess 188,233 3.86 199,285 4.38 Total risk-based capital: Capital level $ 673,343 13.82 % $ 658,777 14.47 % Requirement to be well capitalized 487,252 10.00 455,177 10.00 Excess 186,091 3.82 203,600 4.47 |
Note 15 - New Authoritative Acc
Note 15 - New Authoritative Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 15. New Authoritative Accounting Pronouncements Accounting Standards Adopted in 2018: In February 2018, No. 2018 02, 220 As a result of the Tax Cuts and Jobs Act (the “TCJA”), concerns arose regarding the guidance which requires deferred tax assets and liabilities to be adjusted for the effect of a change in tax laws or rates with the effect included in income from continuing operations in the reporting period that includes the enactment date. The amendments in this ASU require a reclassification for stranded tax effects from accumulated other comprehensive income to retained earnings, furthermore eliminating the stranded tax effects resulting from the TCJA. The amount of the reclassification is the difference between the previous corporate income tax rate of 35% 21%. December 15, 2018, guidance as of January 1, 2018. $2.1 12 In August 2016, No. 2016 15 zero one December 15, 2017. January 1, 2018 not In January 2016, No. 2016 01 January 1, 2018. $0.8 not In May 2014, 2014 09, 606 December 15, 2016, August 2015, one December 15, 2017. January 1, 2018. 2014 09 not not not Topic 606 not 606 606 third not Accounting Standards Pending Adoption: In August 2018, No. 2018 14, 715 20 providing targeted improvements to the disclosures required for Defined Benefit Plans. The amendments in in this Update are effective for fiscal years ended after December 15, 2020. We are currently evaluating the impact of adopting this new guidance on our disclosures. In August 2018, No. 2018 13, 820 820. The amendments in in this Update are effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2019. We are currently evaluating the impact of adopting this new guidance on our disclosures. In August 2017, No. 2017 12, 815 providing targeted improvements to the accounting for hedging activities, which is effective January 1, 2019, We are currently evaluating the impact of adopting this new guidance on our consolidated results of operations, financial In March 2017, No. 2017 08, not not December 15, 2018, not In January 2017, No. 2017 04, 350 2 December 15, 2019, January 1, 2017. not In June 2016, No. 2016 13, December 15, 2019, In February 2016, No. 2016 02, 12 December 15, 2018, may not not Management is continuing to evaluate the Company’s outstanding inventory of leases and determining the effect of recognizing operating leases on the Consolidated Statements of Financial Condition which is expected to be material. |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended For the nine months ended 2018 2017 2018 2017 (Dollars in thousands, except per share data) Net income, as reported $ 17,333 $ 10,179 $ 42,668 $ 35,164 Divided by: Weighted average common shares outstanding 28,604 29,120 28,806 29,092 Weighted average common stock equivalents - 1 1 2 Total weighted average common shares outstanding and common stock equivalents 28,604 29,121 28,807 29,094 Basic earnings per common share $ 0.61 $ 0.35 $ 1.48 $ 1.21 Diluted earnings per common share (1) $ 0.61 $ 0.35 $ 1.48 $ 1.21 Dividend payout ratio 32.8 % 51.4 % 40.5 % 44.6 % |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | Amortized Fair Value Gross Gross (In thousands) Securities held-to-maturity: Municipals $ 23,207 $ 20,996 $ - $ 2,211 Total other securities 23,207 20,996 - 2,211 FNMA 7,958 7,221 - 737 Total mortgage-backed securities 7,958 7,221 - 737 Total $ 31,165 $ 28,217 $ - $ 2,948 Amortized Fair Value Gross Gross (In thousands) Securities held-to-maturity: Municipals $ 22,913 $ 21,889 $ - $ 1,024 Total other securities 22,913 21,889 - 1,024 FNMA 7,973 7,810 - 163 Total mortgage-backed securities 7,973 7,810 - 163 Total $ 30,886 $ 29,699 $ - $ 1,187 Amortized Fair Value Gross Gross (In thousands) Corporate $ 120,000 $ 109,757 $ - $ 10,243 Municipals 100,018 100,546 589 61 Mutual funds 11,405 11,405 - - Collateralized loan obligations 10,000 10,000 - - Other 1,205 1,205 - - Total other securities 242,628 232,913 589 10,304 REMIC and CMO 372,472 360,119 17 12,370 GNMA 805 848 43 - FNMA 130,397 125,168 47 5,276 FHLMC 43,939 41,984 9 1,964 Total mortgage-backed securities 547,613 528,119 116 19,610 Total securities available for sale $ 790,241 $ 761,032 $ 705 $ 29,914 Amortized Fair Value Gross Gross (In thousands) Corporate $ 110,000 $ 102,767 $ - $ 7,233 Municipals 101,680 103,199 1,519 - Mutual funds 11,575 11,575 - - Collateralized loan obligations 10,000 10,053 53 - Other 1,110 1,110 - - Total other securities 234,365 228,704 1,572 7,233 REMIC and CMO 328,668 325,302 595 3,961 GNMA 1,016 1,088 72 - FNMA 136,198 135,474 330 1,054 FHLMC 48,103 47,786 18 335 Total mortgage-backed securities 513,985 509,650 1,015 5,350 Total securities available for sale $ 748,350 $ 738,354 $ 2,587 $ 12,583 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities held-to-maturity: Amortized Fair Value (In thousands) Due in one year or less $ 1,568 $ 1,568 Due after ten years 21,639 19,428 Total other securities 23,207 20,996 Mortgage-backed securities 7,958 7,221 Total $ 31,165 $ 28,217 Securities available for sale: Amortized Fair Value (In thousands) Due in one year or less $ - $ - Due after one year through five years 4,219 4,215 Due after five years through ten years 135,466 125,245 Due after ten years 91,538 92,048 Total other securities 231,223 221,508 Mutual funds 11,405 11,405 Mortgage-backed securities 547,613 528,119 Total $ 790,241 $ 761,032 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | At September 30, 2018 Total Less than 12 months 12 months or more Count Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 19,427 $ 2,211 $ - $ - $ 19,427 $ 2,211 Total other securities 1 19,427 2,211 - - 19,427 2,211 FNMA 1 7,221 737 - - 7,221 737 Total mortgage-backed securities 1 7,221 737 - - 7,221 737 Total 2 $ 26,648 $ 2,948 $ - $ - $ 26,648 $ 2,948 Available for sale securities Corporate 14 $ 99,756 $ 10,243 $ - $ - $ 99,756 $ 10,243 Municipals 11 28,686 61 28,686 61 - - Total other securities 25 128,442 10,304 28,686 61 99,756 10,243 REMIC and CMO 56 337,184 12,370 189,028 4,658 148,156 7,712 FNMA 23 123,654 5,276 38,461 904 85,193 4,372 FHLMC 2 41,274 1,964 - - 41,274 1,964 Total mortgage-backed securities 81 502,112 19,610 227,489 5,562 274,623 14,048 Total 106 $ 630,554 $ 29,914 $ 256,175 $ 5,623 $ 374,379 $ 24,291 At December 31, 2017 Total Less than 12 months 12 months or more Count Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 20,844 $ 1,024 $ 20,844 $ 1,024 $ - $ - Total other securities 1 20,844 1,024 20,844 1,024 - - FNMA 1 7,810 163 7,810 163 - - Total mortgage-backed securities 1 7,810 163 7,810 163 - - Total securities held-to-maturity 2 $ 28,654 $ 1,187 $ 28,654 $ 1,187 $ - $ - Available for sale securities Corporate 14 $ 102,767 $ 7,233 $ 9,723 $ 277 $ 93,044 $ 6,956 Total other securities 14 102,767 7,233 9,723 277 93,044 6,956 REMIC and CMO 36 249,596 3,961 162,781 1,406 86,815 2,555 FNMA 17 120,510 1,054 109,258 850 11,252 204 FHLMC 2 46,829 335 43,258 294 3,571 41 Total mortgage-backed securities 55 416,935 5,350 315,297 2,550 101,638 2,800 Total securities available for sale 69 $ 519,702 $ 12,583 $ 325,020 $ 2,827 $ 194,682 $ 9,756 |
Schedule of Realized Gain (Loss) [Table Text Block] | For the three months ended For the nine months ended 2018 2017 2018 2017 (In thousands) Gross gains from the sale of securities $ - $ 401 $ - $ 401 Gross losses from the sale of securities - (587 ) - (587 ) Net losses from the sale of securities $ - $ (186 ) $ - $ (186 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block] | For the three months ended September 30, 2018 September 30, 2017 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Taxi medallion - $ - 4 $ 1,306 Loan amortization extension Commercial business and other 1 1,620 Loan amortization extension - - Total 1 $ 1,620 4 $ 1,306 For the nine months ended September 30, 2018 September 30, 2017 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Taxi medallion - $ - 9 $ 5,595 All Loan amortization extension, with three loans also receiving a below market rate Commercial business and other 1 1,620 Loan amortization extension - - Total 1 $ 1,620 9 $ 5,595 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) September 30, December 31, Loans ninety days or more past due and still accruing: Commercial real estate $ 111 $ 2,424 Total 111 2,424 Non-accrual mortgage loans: Multi-family residential 862 3,598 Commercial real estate 1,398 1,473 One-to-four family - mixed-use property 795 1,867 One-to-four family - residential 6,610 7,808 Total 9,665 14,746 Non-accrual non-mortgage loans: Small Business Administration 1,395 46 Taxi medallion 712 918 Commercial business and other 761 - Total 2,868 964 Total non-accrual loans 12,533 15,710 Total non-performing loans $ 12,644 $ 18,134 |
Schedule of Interest Foregone on Non-Accrual and TDR Loans [Table Text Block] | For the three months ended For the nine months ended 2018 2017 2018 2017 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 398 $ 401 $ 1,194 $ 1,249 Less: Interest income included in the results of operations 173 166 487 434 Total foregone interest $ 225 $ 235 $ 707 $ 815 |
Past Due Financing Receivables [Table Text Block] | September 30, 2018 (In thousands) 30 - 59 Days 60 - 89 Days Greater Total Past Current Total Loans Multi-family residential $ 3,233 $ 486 $ 863 $ 4,582 $ 2,230,788 $ 2,235,370 Commercial real estate 562 2,025 1,509 4,096 1,456,459 1,460,555 One-to-four family - mixed-use property 1,657 362 796 2,815 562,487 565,302 One-to-four family - residential 1,382 266 6,610 8,258 180,717 188,975 Co-operative apartments - - - - 7,771 7,771 Construction loans - - - - 40,239 40,239 Small Business Administration 145 - 1,395 1,540 12,782 14,322 Taxi medallion - - - - 6,078 6,078 Commercial business and other 5 - 760 765 845,459 846,224 Total $ 6,984 $ 3,139 $ 11,933 $ 22,056 $ 5,342,780 $ 5,364,836 December 31, 2017 (In thousands) 30 - 59 Days 60 - 89 Days Greater Total Past Current Total Loans Multi-family residential $ 2,533 $ 279 $ 3,598 $ 6,410 $ 2,267,185 $ 2,273,595 Commercial real estate 1,680 2,197 3,897 7,774 1,360,338 1,368,112 One-to-four family - mixed-use property 1,570 860 1,867 4,297 559,909 564,206 One-to-four family - residential 1,921 680 7,623 10,224 170,439 180,663 Co-operative apartments - - - - 6,895 6,895 Construction loans - - - - 8,479 8,479 Small Business Administration - - - - 18,479 18,479 Taxi medallion - 108 - 108 6,726 6,834 Commercial business and other 2 - - 2 732,971 732,973 Total $ 7,706 $ 4,124 $ 16,985 $ 28,815 $ 5,131,421 $ 5,160,236 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,538 $ 4,726 $ 2,297 $ 1,003 $ 264 $ 549 $ - $ 5,832 $ 11 $ 20,220 Charge-off's (18 ) - (3 ) - - (144 ) (40 ) (15 ) - (220 ) Recoveries - - 39 258 - 10 - 2 - 309 Provision (Benefit) 37 (650 ) (407 ) (382 ) (2 ) 138 40 1,186 40 - Ending balance $ 5,557 $ 4,076 $ 1,926 $ 879 $ 262 $ 553 $ - $ 7,005 $ 51 $ 20,309 September 30, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,917 $ 4,688 $ 2,568 $ 990 $ 130 $ 306 $ 2,330 $ 4,668 $ 560 $ 22,157 Charge-off's (290 ) - (1 ) - - - - (33 ) - (324 ) Recoveries 66 25 - 58 - 17 - 4 - 170 Provision (Benefit) 43 (86 ) (49 ) (90 ) (13 ) 70 3,661 290 (560 ) 3,266 Ending balance $ 5,736 $ 4,627 $ 2,518 $ 958 $ 117 $ 393 $ 5,991 $ 4,929 $ - $ 25,269 September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,823 $ 4,643 $ 2,545 $ 1,082 $ 68 $ 669 $ - $ 5,521 $ - $ 20,351 Charge-off's (99 ) - (3 ) (1 ) - (196 ) (393 ) (29 ) - (721 ) Recoveries 2 - 118 370 - 25 - 11 - 526 Provision (Benefit) (169 ) (567 ) (734 ) (572 ) 194 55 393 1,502 51 153 Ending balance $ 5,557 $ 4,076 $ 1,926 $ 879 $ 262 $ 553 $ - $ 7,005 $ 51 $ 20,309 September 30, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family - residential Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Allowance for credit losses: Beginning balance $ 5,923 $ 4,487 $ 2,903 $ 1,015 $ 92 $ 481 $ 2,243 $ 4,492 $ 593 $ 22,229 Charge-off's (452 ) (4 ) (36 ) (170 ) - (89 ) (54 ) (48 ) - (853 ) Recoveries 297 93 68 58 - 66 - 45 - 627 Provision (Benefit) (32 ) 51 (417 ) 55 25 (65 ) 3,802 440 (593 ) 3,266 Ending balance $ 5,736 $ 4,627 $ 2,518 $ 958 $ 117 $ 393 $ 5,991 $ 4,929 $ - $ 25,269 |
Schedule of Loans and the Manner in which they are Evaluated for Impairment [Table Text Block] | September 30, 2018 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family- residential Co-operative apartments Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Financing Receivables: Ending Balance $ 2,235,370 $ 1,460,555 $ 565,302 $ 188,975 $ 7,771 $ 40,239 $ 14,322 $ 6,078 $ 846,224 $ - $ 5,364,836 Ending balance: individually evaluated for impairment $ 5,023 $ 4,206 $ 3,680 $ 7,561 $ - $ - $ 1,429 $ 6,078 $ 25,059 $ - $ 53,036 Ending balance: collectively evaluated for impairment $ 2,230,347 $ 1,456,349 $ 561,622 $ 181,414 $ 7,771 $ 40,239 $ 12,893 $ - $ 821,165 $ - $ 5,311,800 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 102 $ - $ 151 $ 53 $ - $ - $ - $ - $ 2 $ - $ 308 Ending balance: collectively evaluated for impairment $ 5,455 $ 4,076 $ 1,775 $ 826 $ - $ 262 $ 553 $ - $ 7,003 $ 51 $ 20,001 December 31, 2017 (In thousands) Multi-family residential Commercial real estate One-to-four family - mixed-use property One-to-four family- residential Co-operative apartments Construction loans Small Business Administration Taxi medallion Commercial business and other Unallocated Total Financing Receivables: Ending Balance $ 2,273,595 $ 1,368,112 $ 564,206 $ 180,663 $ 6,895 $ 8,479 $ 18,479 $ 6,834 $ 732,973 $ - $ 5,160,236 Ending balance: individually evaluated for impairment $ 7,311 $ 9,089 $ 5,445 $ 9,686 $ - $ - $ 137 $ 6,834 $ 661 $ - $ 39,163 Ending balance: collectively evaluated for impairment $ 2,266,284 $ 1,359,023 $ 558,761 $ 170,977 $ 6,895 $ 8,479 $ 18,342 $ - $ 732,312 $ - $ 5,121,073 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 205 $ 177 $ 198 $ 56 $ - $ - $ - $ - $ 6 $ - $ 642 Ending balance: collectively evaluated for impairment $ 5,618 $ 4,466 $ 2,347 $ 1,026 $ - $ 68 $ 669 $ - $ 5,515 $ - $ 19,709 |
Impaired Financing Receivables [Table Text Block] | September 30, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,741 $ 4,288 $ - $ 5,091 $ 5,539 $ - Commercial real estate 4,206 4,206 - 7,103 7,103 - One-to-four family mixed-use property 2,484 2,703 - 4,218 4,556 - One-to-four family residential 7,158 7,792 - 9,272 10,489 - Non-mortgage loans: Small Business Administration 1,429 1,577 - 137 151 - Taxi medallion 6,078 17,343 - 6,834 18,063 - Commercial business and other 24,773 25,142 - 313 682 - Total loans with no related allowance recorded 49,869 63,051 - 32,968 46,583 - With an allowance recorded: Mortgage loans: Multi-family residential 1,282 1,282 102 2,220 2,220 205 Commercial real estate - - - 1,986 1,986 177 One-to-four family mixed-use property 1,196 1,196 151 1,227 1,227 198 One-to-four family residential 403 403 53 414 414 56 Non-mortgage loans: Commercial business and other 286 286 2 348 348 6 Total loans with an allowance recorded 3,167 3,167 308 6,195 6,195 642 Total Impaired Loans: Total mortgage loans $ 20,470 $ 21,870 $ 306 $ 31,531 $ 33,534 $ 636 Total non-mortgage loans $ 32,566 $ 44,348 $ 2 $ 7,632 $ 19,244 $ 6 September 30, 2018 September 30, 2017 Average Interest Average Interest (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 4,013 $ 31 $ 2,451 $ 12 Commercial real estate 4,587 50 5,142 60 One-to-four family mixed-use property 3,452 28 5,269 45 One-to-four family residential 7,742 7 10,023 29 Construction 365 - 890 15 Non-mortgage loans: Small Business Administration 739 31 260 5 Taxi medallion 6,152 84 3,177 19 Commercial business and other 20,301 482 1,254 6 Total loans with no related allowance recorded 47,351 713 28,466 191 With an allowance recorded: Mortgage loans: Multi-family residential 1,740 19 2,242 28 Commercial real estate - - 2,040 24 One-to-four family mixed-use property 1,201 15 1,445 16 One-to-four family residential 405 4 422 4 Non-mortgage loans: Taxi medallion - - 14,716 73 Commercial business and other 297 4 385 5 Total loans with an allowance recorded 3,643 42 21,250 150 Total Impaired Loans: Total mortgage loans $ 23,505 $ 154 $ 29,924 $ 233 Total non-mortgage loans $ 27,489 $ 601 $ 19,792 $ 108 September 30, 2018 September 30, 2017 Average Interest Average Interest (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 4,201 $ 67 $ 2,650 $ 57 Commercial real estate 5,300 176 5,881 214 One-to-four family mixed-use property 3,759 108 5,399 123 One-to-four family residential 7,974 32 10,062 85 Construction 243 10 794 22 Non-mortgage loans: Small Business Administration 526 33 230 9 Taxi medallion 6,307 252 3,771 74 Commercial business and other 13,560 792 1,584 93 Total loans with no related allowance recorded 41,870 1,470 30,371 677 With an allowance recorded: Mortgage loans: Multi-family residential 1,896 78 2,391 107 Commercial real estate 1,206 39 2,039 72 One-to-four family mixed-use property 407 12 1,379 50 One-to-four family residential - - 422 12 Non-mortgage loans: Taxi medallion - - 14,663 166 Commercial business and other 307 13 383 17 Total loans with an allowance recorded 3,816 142 21,277 424 Total Impaired Loans: Total mortgage loans $ 24,986 $ 522 $ 31,017 $ 742 Total non-mortgage loans $ 20,700 $ 1,090 $ 20,631 $ 359 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2018 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 3,092 $ 3,095 $ - $ - $ 6,187 Commercial real estate 2,969 4,206 - - 7,175 One-to-four family - mixed-use property 1,215 1,967 - - 3,182 One-to-four family - residential 480 7,005 - - 7,485 Small Business Administration 487 274 - - 761 Taxi medallion - 6,078 - - 6,078 Commercial business and other 749 25,050 - - 25,799 Total loans $ 8,992 $ 47,675 $ - $ - $ 56,667 December 31, 2017 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 6,389 $ 4,793 $ - $ - $ 11,182 Commercial real estate 2,020 8,871 - - 10,891 One-to-four family - mixed-use property 2,835 3,691 - - 6,526 One-to-four family - residential 2,076 9,115 - - 11,191 Small Business Administration 548 108 - - 656 Taxi medallion - 6,834 - - 6,834 Commercial business and other 14,859 545 - - 15,404 Total loans $ 28,727 $ 33,957 $ - $ - $ 62,684 |
Performing According to Restructured Terms [Member] | |
Notes Tables | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | September 30, 2018 December 31, 2017 (Dollars in thousands) Number Recorded Number Recorded Multi-family residential 7 $ 1,927 9 $ 2,518 Commercial real estate - - 2 1,986 One-to-four family - mixed-use property 5 1,713 5 1,753 One-to-four family - residential 3 557 3 572 Taxi medallion 19 5,366 20 5,916 Commercial business and other 3 1,885 2 462 Total performing troubled debt restructured 37 $ 11,448 41 $ 13,207 September 30, 2018 December 31, 2017 Number Recorded Number Recorded Multi-family residential 1 $ 383 1 $ 383 Total troubled debt restructurings that subsequently defaulted 1 $ 383 1 $ 383 |
Note 6 - Loans Held for Sale (T
Note 6 - Loans Held for Sale (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Delinquent and Non-Performing Loans Sold During Period [Table Text Block] | For the three months ended September 30, 2018 (Dollars in thousands) Loans sold Proceeds Net Recoveries Net gain Delinquent and non-performing loans Multi-family residential 1 $ 595 $ - $ - Commercial real estate 1 2,500 - - One-to-four family - mixed-use property 2 725 (4 ) - One-to-four family - residential 2 390 72 10 Total 6 $ 4,210 $ 68 $ 10 For the three months ended September 30, 2017 (Dollars in thousands) Loans sold Proceeds Net gain (loss) Delinquent and non-performing loans Multi-family residential 2 $ 707 $ 30 Commercial real estate 3 1,118 34 One-to-four family - mixed-use property 3 913 115 Total 8 $ 2,738 $ 179 Performing loans Multi-family residential 10 $ 12,704 $ (22 ) Commercial real estate 2 17,832 (7 ) Small Business Administration 1 142 2 Total 13 $ 30,678 $ (27 ) For the nine months ended September 30, 2018 (Dollars in thousands) Loans sold Proceeds Net Recoveries Net gain (loss) Delinquent and non-performing loans Multi-family residential 4 $ 1,559 $ - $ - Commercial real estate 4 6,065 - (235 ) One-to-four family - mixed-use property 2 725 (4 ) - One-to-four family - residential 2 390 72 10 Total 12 $ 8,739 $ 68 $ (225 ) Performing loans Small Business Administration 9 $ 5,671 $ - $ 393 Total 9 $ 5,671 $ - $ 393 For the nine months ended September 30, 2017 (Dollars in thousands) Loans sold Proceeds Net charge-offs Net gain (loss) Delinquent and non-performing loans Multi-family residential 2 $ 707 $ - $ 30 Commercial real estate 4 1,453 (4 ) 35 One-to-four family - mixed-use property 8 2,703 (33 ) 143 Total 14 $ 4,863 $ (37 ) $ 208 Performing loans Multi-family residential 12 $ 18,784 $ - $ (36 ) Commercial real estate 7 26,283 - (28 ) Small Business Administration 8 5,061 - 252 Total 27 $ 50,128 $ - $ 188 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted-Average Non-vested at December 31, 2017 497,322 $ 22.46 Granted 280,590 28.19 Vested (248,319 ) 23.68 Forfeited (11,955 ) 25.31 Non-vested at September 30, 2018 517,638 $ 24.91 Vested but unissued at September 30, 2018 234,799 $ 25.14 |
Phantom Share Units (PSUs) [Member] | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2017 89,180 $ 27.50 Granted 9,750 27.47 Forfeited - - Distributions (65 ) 26.16 Outstanding at September 30, 2018 98,865 $ 24.40 Vested at September 30, 2018 98,397 $ 24.40 |
Note 9 - Pension and Other Po_2
Note 9 - Pension and Other Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three months ended Nine months ended (In thousands) 2018 2017 2018 2017 Employee Pension Plan: Interest cost $ 195 $ 216 $ 585 $ 648 Amortization of unrecognized loss 155 174 465 523 Expected return on plan assets (363 ) (348 ) (1,089 ) (1,044 ) Net employee pension ( benefit) expense $ (13 ) $ 42 $ (39 ) $ 127 Outside Director Pension Plan: Service cost $ 11 $ 10 $ 33 $ 30 Interest cost 19 23 60 69 Amortization of unrecognized gain (23 ) (23 ) (69 ) (69 ) Amortization of past service liability 3 10 9 30 Net outside director pension expense $ 10 $ 20 $ 33 $ 60 Other Postretirement Benefit Plans: Service cost $ 88 $ 79 $ 264 $ 237 Interest cost 77 76 231 228 Amortization of past service credit (13 ) (21 ) (37 ) (64 ) Net other postretirement expense $ 152 $ 134 $ 458 $ 401 |
Note 10 - Fair Value of Finan_2
Note 10 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value Option, Disclosures [Table Text Block] | Fair Value Fair Value Changes in Fair Values For Items Measured at Fair Value Measurements Measurements Pursuant to Election of the Fair Value Option at September 30, at December 31, Three Months Ended Nine Months Ended (In thousands) 2018 2017 September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Mortgage-backed securities $ 1,330 $ 1,590 $ (6 ) $ (5 ) $ (17 ) $ (15 ) Other securities 12,610 12,685 (72 ) 40 (272 ) 184 Borrowed funds 40,151 36,986 (607 ) (925 ) (3,155 ) (2,090 ) Net loss from fair value adjustments (1)(2) $ (685 ) $ (890 ) $ (3,444 ) $ (1,921 ) |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices Significant Other Significant Other Total carried at fair value 2018 2017 2018 2017 2018 2017 2018 2017 (In thousands) Assets: Mortgage-backed Securities $ - $ - $ 528,119 $ 509,650 $ - $ - $ 528,119 $ 509,650 Other securities 11,405 11,575 220,303 216,019 1,205 1,110 232,913 228,704 Interest rate swaps - - 32,600 7,388 - - 32,600 7,388 Total assets $ 11,405 $ 11,575 $ 781,022 $ 733,057 $ 1,205 $ 1,110 $ 793,632 $ 745,742 Liabilities: Borrowings $ - $ - $ - $ - $ 40,151 $ 36,986 $ 40,151 $ 36,986 Interest rate swaps - - 449 3,758 - - 449 3,758 Total liabilities $ - $ - $ 449 $ 3,758 $ 40,151 $ 36,986 $ 40,600 $ 40,744 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the three months ended September 30, 2018 September 30, 2017 Trust preferred Junior subordinated Trust preferred Junior subordinated (In thousands) Beginning balance $ 1,188 $ 39,566 $ 7,444 $ 35,137 Security Call - - (6,300 ) - Net gain from fair value adjustment of financial assets (1) 17 - 28 - Net loss from fair value adjustment of financial liabilities (1) - 607 - 925 Decrease in accrued interest receivable - - (89 ) - Increase (decrease) in accrued interest payable - (9 ) - 9 Change in unrealized gains (losses) included in other comprehensive income - (13 ) - - Ending balance $ 1,205 $ 40,151 $ 1,083 $ 36,071 Changes in unrealized gains (losses) held at period end $ - $ (13 ) $ - $ - For the nine months ended September 30, 2018 September 30, 2017 Trust preferred Junior subordinated Trust preferred Junior subordinated (In thousands) Beginning balance $ 1,110 $ 36,986 $ 7,361 $ 33,959 Security call - - (6,300 ) - Net gain from fair value adjustment of financial assets (1) 94 - 108 - Net loss from fair value adjustment of financial liabilities (1) 3,155 - 2,090 Increase (Decrease) in accrued interest receivable 1 - (88 ) - Increase in accrued interest payable - 42 - 22 Change in unrealized gains (losses) included in other comprehensive income - (32 ) 2 - Ending balance $ 1,205 $ 40,151 $ 1,083 $ 36,071 Changes in unrealized gains (losses)held at period end $ - $ (32 ) $ 2 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted Prices Significant Other Significant Other Total carried at fair value 2018 2017 2018 2017 2018 2017 2018 2017 (In thousands) Assets: Impaired loans $ - $ - $ - $ - $ 12,798 $ 16,027 $ 12,798 $ 16,027 Other repossesed assets - - - - 35 - 35 - Total assets $ - $ - $ - $ - $ 12,833 $ 16,027 $ 12,833 $ 16,027 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2018 Carrying Fair Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 45,094 $ 45,094 $ 45,094 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,958 7,221 - 7,221 - Other securities 23,207 20,996 - - 20,996 Securities available for sale Mortgage-backed securities 528,119 528,119 - 528,119 - Other securities 232,913 232,913 11,405 220,303 1,205 Loans 5,380,062 5,301,783 - - 5,301,783 FHLB-NY stock 54,942 54,942 - 54,942 - Accrued interest receivable 24,673 24,673 5 1,962 22,706 Interest rate swaps 32,600 32,600 - 32,600 - Liabilities: Deposits $ 4,716,315 $ 4,706,114 $ 3,153,353 $ 1,552,761 $ - Borrowings 1,197,101 1,184,589 - 1,144,438 40,151 Accrued interest payable 6,732 6,732 - 6,732 - Interest rate swaps 449 449 - 449 - December 31, 2017 Carrying Fair Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 51,546 $ 51,546 $ 51,546 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,973 7,810 - 7,810 - Other securities 22,913 21,889 - - 21,889 Securities available for sale Mortgage-backed securities 509,650 509,650 - 509,650 - Other securities 228,704 228,704 11,575 216,019 1,110 Loans 5,176,999 5,169,108 - - 5,169,108 FHLB-NY stock 60,089 60,089 - 60,089 - Accrued interest receivable 21,405 21,405 16 1,916 19,473 Interest rate swaps 7,388 7,388 - 7,388 - Liabilities: Deposits $ 4,383,278 $ 4,380,174 $ 3,031,345 $ 1,348,829 $ - Borrowings 1,309,653 1,310,487 - 1,273,501 36,986 Accrued interest payable 2,659 2,659 - 2,659 - Interest rate swaps 3,758 3,758 - 3,758 - |
Fair Value, Measurements, Nonrecurring [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 1,525 Income approach Capitalization rate 6.5% to 7.5% 7.0% Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 8,358 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -50.0% to 15.0% -2.1% Reduction for planned expedited disposal -38.6% to 15.0% 11.1% Impaired loans $ 2,915 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 25.0% -1.2% Capitalization rate 5.0% to 9.8% 7.5% Reduction for planned expedited disposal 15.0% 15.0% Other repossesed assets $ 35 Sales approach Reduction for planned expediated disposal 15.0% 15.0% December 31, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 1,818 Income approach Capitalization rate 6.5% to 7.5% 6.8% Reduction planned for expedited disposal 15.0% 15.0% Impaired loans $ 10,003 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -50.0% to 16.2% -0.8% Reduction planned for expedited disposal -30.9% to 15.0% 8.7% Impaired loans $ 4,206 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 25.0% -1.2% Capitalization rate 5.0% to 9.8% 7.2% Reduction planned for expedited disposal 15.0% 15.0% |
Fair Value, Measurements, Recurring [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,205 Discounted cash flows Discount rate n/a 5.1 % Liabilities: Junior subordinated debentures $ 40,151 Discounted cash flows Discount rate n/a 5.1 % December 31, 2017 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,110 Discounted cash flows Discount rate n/a 5.7 % Liabilities: Junior subordinated debentures $ 36,986 Discounted cash flows Discount rate n/a 5.7 % |
Note 11 - Derivative Financia_2
Note 11 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2018 December 31, 2017 (In thousands) Notional Net Carrying (1) Notional Net Carrying (1) Interest rate swaps (fair value hedge) $ 269,734 $ 18,150 $ 199,341 $ 6,971 Interest rate swaps (fair value hedge) - - 62,564 (921 ) Interest rate swaps (cash flow hedge) 441,500 14,450 250,000 417 Interest rate swaps (cash flow hedge) - - 191,500 (7 ) Interest rate swaps (non-hedge) 36,321 (449 ) 36,321 (2,830 ) Total derivatives $ 747,555 $ 32,151 $ 739,726 $ 3,630 |
Derivative Instruments, Gain (Loss) [Table Text Block] | For the three months ended For the nine months ended (In thousands) 2018 2017 2018 2017 Financial Derivatives: Interest rate swaps (non-hedge) $ 668 $ (56 ) $ 2,382 $ (316 ) Interest rate swaps (fair value hedge) (153 ) (351 ) 525 (597 ) Net gain (1) $ 515 $ (407 ) $ 2,907 $ (913 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | September 30, 2018 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Condition Net Amount of Assets Presented in the Statement of Condition Financial Instruments Cash Collateral Received Net Amount Interest rate swaps $ 32,600 $ - $ 32,600 $ - $ 32,990 $ (390 ) Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Liabilities Gross Amount Offset in the Statement of Condition Net Amount of Liabilities Presented in the Statement of Condition Financial Instruments Cash Collateral Pledged Net Amount Interest rate swaps $ 449 $ - $ 449 $ - $ - $ 449 December 31, 2017 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Statement of Condition Net Amount of Assets Presented in the Statement of Condition Financial Instruments Cash Collateral Received Net Amount Interest rate swaps $ 7,388 $ - $ 7,388 $ - $ 3,660 $ 3,728 Gross Amounts Not Offset in the Consolidated Statement of Condition (In thousands) Gross Amount of Recognized Liabilities Gross Amount Offset in the Statement of Condition Net Amount of Liabilities Presented in the Statement of Condition Financial Instruments Cash Collateral Pledged Net Amount Interest rate swaps $ 3,758 $ - $ 3,758 $ - $ - $ 3,758 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the three months For the nine months (In thousands) 2018 2017 2018 2017 Federal: Current $ 2,899 $ 6,703 $ 9,064 $ 16,308 Deferred (592 ) (2,023 ) (839 ) (1,303 ) Total federal tax provision 2,307 4,680 8,225 15,005 State and Local: Current 33 1,398 1,722 2,817 Deferred (430 ) (787 ) (598 ) (502 ) Total state and local tax provision (benefit) (397 ) 611 1,124 2,315 Total income tax provision $ 1,910 $ 5,291 $ 9,349 $ 17,320 |
Note 13 - Accumulated Other C_2
Note 13 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the three months ended September 30, 2018 Unrealized Gains Unrealized Gains Defined Benefit Fair Value Total (In thousands) Beginning balance, net of tax $ (16,501 ) $ 8,027 $ (4,325 ) $ 792 $ (12,007 ) Other comprehensive income before reclassifications, net of tax (3,505 ) 1,950 - 9 (1,546 ) Amounts reclassified from accumulated other comprehensive income, net of tax - (80 ) 84 - 4 Net current period other comprehensive income (loss), net of tax (3,505 ) 1,870 84 9 (1,542 ) Ending balance, net of tax $ (20,006 ) $ 9,897 $ (4,241 ) $ 801 $ (13,549 ) For the three months ended Septmber 30, 2017 Unrealized Gains Unrealized Gains Defined Benefit Total (In thousands) Beginning balance, net of tax $ (2,110 ) $ (124 ) $ (4,342 ) $ (6,576 ) Other comprehensive income before (333 ) 56 - (277 ) Amounts reclassified from accumulated other 108 - 81 189 Net current period other comprehensive (225 ) 56 81 (88 ) Ending balance, net of tax $ (2,335 ) $ (68 ) $ (4,261 ) $ (6,664 ) For the nine months ended September 30, 2018 Unrealized Gains Unrealized Gains Defined Benefit Fair Value Total (In thousands) Beginning balance, net of tax $ (5,522 ) $ 231 $ (3,695 ) $ - $ (8,986 ) Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from AOCL to Retained Earnings (1,325 ) 50 (798 ) - (2,073 ) Impact of adoption of Accounting Standard Update 2016-01 - - - 779 779 Other comprehensive income before reclassifications, net of tax (13,159 ) 9,455 - 22 (3,682 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax - 161 252 - 413 Net current period other comprehensive income, net of tax (13,159 ) 9,616 252 22 (3,269 ) Ending balance, net of tax $ (20,006 ) $ 9,897 $ (4,241 ) $ 801 $ (13,549 ) For the nine months ended September 30, 2017 Unrealized Gains Unrealized Gains Defined Benefit Total (In thousands) Beginning balance, net of tax $ (3,859 ) $ - $ (4,503 ) $ (8,362 ) Other comprehensive income before reclassifications, net of tax 1,416 (68 ) - 1,348 Amounts reclassified from accumulated other comprehensive income, net of tax 108 - 242 350 Net current period other comprehensive income, net of tax 1,524 (68 ) 242 1,698 Ending balance, net of tax $ (2,335 ) $ (68 ) $ (4,261 ) $ (6,664 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the three months ended September 30, 2018 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Cash flow hedges: Interest rate swaps $ 116 Other interest expense (36) Tax expense $ 80 Net of tax Amortization of defined benefit pension items: Actuarial losses $ (132) (1) Other operating expense Prior service credits 10 (1) Other operating expense (122) Total before tax 38 Tax benefit $ (84) Net of tax For the three months ended September 30, 2017 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Unrealized losses on available for sale securities: $ (186) Net loss on sale of securities 78 Tax benefit $ (108) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (152) (1) Other operating expense Prior service credits 12 (1) Other operating expense (140) Total before tax 59 Tax benefit $ (81) Net of tax For the nine months ended September 30, 2018 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Cash flow hedges: Interest rate swaps $ (235) Interest expense 74 Tax benefit $ (161) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (396) (1) Other operating expense Prior service credits 28 (1) Other operating expense (368) Total before tax 116 Tax benefit $ (252) Net of tax For the nine months ended September 30, 2017 Details about Accumulated Other Amounts Reclassified from Affected Line Item in the Statement (In thousands) Unrealized losses on available for sale securities: $ (186) Net loss on sale of securities 78 Tax benefit $ (108) Net of tax Amortization of defined benefit pension items: Actuarial losses $ (454) (1) Other operating expense Prior service credits 34 (1) Other operating expense (420) Total before tax 178 Tax benefit $ (242) Net of tax |
Note 14 - Regulatory Capital (T
Note 14 - Regulatory Capital (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | September 30, 2018 December 31, 2017 Amount Percent of Amount Percent of (Dollars in thousands) Tier I (leverage) capital: Capital level $ 655,965 10.12 % $ 631,285 10.11 % Requirement to be well capitalized 324,032 5.00 312,343 5.00 Excess 331,933 5.12 318,942 5.11 Common Equity Tier I risk-based capital: Capital level $ 655,965 13.46 % $ 631,285 13.87 % Requirement to be well capitalized 316,766 6.50 295,937 6.50 Excess 339,199 6.96 335,348 7.37 Tier 1 risk-based capital: Capital level $ 655,965 13.46 % $ 631,285 13.87 % Requirement to be well capitalized 389,865 8.00 364,230 8.00 Excess 266,100 5.46 267,055 5.87 Total risk-based capital: Capital level $ 676,274 13.88 % $ 651,636 14.31 % Requirement to be well capitalized 487,332 10.00 455,288 10.00 Excess 188,942 3.88 196,348 4.31 September 30, 2018 December 31, 2017 Amount Percent of Amount Percent of (Dollars in thousands) Tier I (leverage) capital: Capital level $ 578,034 8.92 % $ 563,426 9.02 % Requirement to be well capitalized 324,008 5.00 312,278 5.00 Excess 254,026 3.92 251,148 4.02 Common Equity Tier I risk-based capital: Capital level $ 539,306 11.07 % $ 527,727 11.59 % Requirement to be well capitalized 316,714 6.50 295,865 6.50 Excess 222,592 4.57 231,862 5.09 Tier 1 risk-based capital: Capital level $ 578,034 11.86 % $ 563,426 12.38 % Requirement to be well capitalized 389,801 8.00 364,141 8.00 Excess 188,233 3.86 199,285 4.38 Total risk-based capital: Capital level $ 673,343 13.82 % $ 658,777 14.47 % Requirement to be well capitalized 487,252 10.00 455,177 10.00 Excess 186,091 3.82 203,600 4.47 |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 0 |
Note 3 - Earnings Per Share - E
Note 3 - Earnings Per Share - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net income | $ 17,333 | $ 10,179 | $ 42,668 | $ 35,164 | |
Divided by: | |||||
Weighted average common shares outstanding (in shares) | 28,604 | 29,120 | 28,806 | 29,092 | |
Weighted average common stock equivalents (in shares) | 1 | 1 | 2 | ||
Total weighted average common shares outstanding and common stock equivalents (in shares) | 28,604 | 29,121 | 28,807 | 29,094 | |
Basic earnings per common share (in dollars per share) | $ 0.61 | $ 0.35 | $ 1.48 | $ 1.21 | |
Diluted earnings per common share (in dollars per share) | [1] | $ 0.61 | $ 0.35 | $ 1.48 | $ 1.21 |
Dividend payout ratio | 32.80% | 51.40% | 40.50% | 44.60% | |
[1] | For the three and nine months ended September 30, 2018 and 2017, there were no common stock equivalents that were anti-dilutive. |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Debt Securities, Trading, and Equity Securities, FV-NI, Total | $ 0 | $ 0 | $ 0 | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | 0 | $ 0 | |||
Proceeds from Sale of Available-for-sale Securities, Total | $ 0 | $ 112,400,000 | $ 0 | $ 112,400,000 | |
Collateralized Mortgage Obligations by Commercial Real Estate [Member] | |||||
Private Issue Collateralized Mortgage Obligations, Number | 0 | 0 | 1 | ||
Mortgage Backed Securities Available for Sale Amortized Cost | $ 21,000 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities held-to-maturity, amortized cost | $ 31,165 | $ 30,886 |
Securities held-to-maturity, fair value | 28,217 | 29,699 |
Securities held-to-maturity, gross unrealized gains | 0 | |
Securities held-to-maturity, gross unrealized losses | 2,948 | 1,187 |
Securities available for sale, amortized cost | 790,241 | 748,350 |
Securities available for sale, fair value | 761,032 | 738,354 |
Securities available for sale, gross unrealized gains | 705 | 2,587 |
Securities available for sale, gross unrealized losses | 29,914 | 12,583 |
Corporate Debt Securities [Member] | ||
Securities available for sale, amortized cost | 120,000 | 110,000 |
Securities available for sale, fair value | 109,757 | 102,767 |
Securities available for sale, gross unrealized gains | ||
Securities available for sale, gross unrealized losses | 10,243 | 7,233 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held-to-maturity, amortized cost | 23,207 | 22,913 |
Securities held-to-maturity, fair value | 20,996 | 21,889 |
Securities held-to-maturity, gross unrealized gains | 0 | |
Securities held-to-maturity, gross unrealized losses | 2,211 | 1,024 |
Securities available for sale, amortized cost | 100,018 | 101,680 |
Securities available for sale, fair value | 100,546 | 103,199 |
Securities available for sale, gross unrealized gains | 589 | 1,519 |
Securities available for sale, gross unrealized losses | 61 | |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 23,207 | 22,913 |
Securities held-to-maturity, fair value | 20,996 | 21,889 |
Securities held-to-maturity, gross unrealized gains | ||
Securities held-to-maturity, gross unrealized losses | 2,211 | 1,024 |
Securities available for sale, fair value | 232,913 | 228,704 |
Mutual Fund Debt Securities [Member] | ||
Securities available for sale, amortized cost | 11,405 | 11,575 |
Securities available for sale, fair value | 11,405 | 11,575 |
Securities available for sale, gross unrealized gains | ||
Securities available for sale, gross unrealized losses | ||
FNMA [Member] | ||
Securities held-to-maturity, amortized cost | 7,958 | 7,973 |
Securities held-to-maturity, fair value | 7,221 | 7,810 |
Securities held-to-maturity, gross unrealized gains | ||
Securities held-to-maturity, gross unrealized losses | 737 | 163 |
Securities available for sale, amortized cost | 130,397 | 136,198 |
Securities available for sale, fair value | 125,168 | 135,474 |
Securities available for sale, gross unrealized gains | 47 | 330 |
Securities available for sale, gross unrealized losses | 5,276 | 1,054 |
Collateralized Debt Obligations [Member] | ||
Securities available for sale, amortized cost | 10,000 | 10,000 |
Securities available for sale, fair value | 10,000 | 10,053 |
Securities available for sale, gross unrealized gains | 53 | |
Securities available for sale, gross unrealized losses | ||
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,958 | 7,973 |
Securities held-to-maturity, fair value | 7,221 | 7,810 |
Securities held-to-maturity, gross unrealized gains | ||
Securities held-to-maturity, gross unrealized losses | 737 | 163 |
Securities available for sale, amortized cost | 547,613 | 513,985 |
Securities available for sale, fair value | 528,119 | 509,650 |
Securities available for sale, gross unrealized gains | 116 | 1,015 |
Securities available for sale, gross unrealized losses | 19,610 | 5,350 |
Other Securities [Member] | ||
Securities available for sale, amortized cost | 1,205 | 1,110 |
Securities available for sale, fair value | 1,205 | 1,110 |
Securities available for sale, gross unrealized gains | ||
Securities available for sale, gross unrealized losses | ||
Available for Sale Securities Excluding Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | 242,628 | 234,365 |
Securities available for sale, fair value | 232,913 | 228,704 |
Securities available for sale, gross unrealized gains | 589 | 1,572 |
Securities available for sale, gross unrealized losses | 10,304 | 7,233 |
REMIC and CMO [Member] | ||
Securities available for sale, amortized cost | 372,472 | 328,668 |
Securities available for sale, fair value | 360,119 | 325,302 |
Securities available for sale, gross unrealized gains | 17 | 595 |
Securities available for sale, gross unrealized losses | 12,370 | 3,961 |
GNMA [Member] | ||
Securities available for sale, amortized cost | 805 | 1,016 |
Securities available for sale, fair value | 848 | 1,088 |
Securities available for sale, gross unrealized gains | 43 | 72 |
Securities available for sale, gross unrealized losses | ||
FHLMC [Member] | ||
Securities available for sale, amortized cost | 43,939 | 48,103 |
Securities available for sale, fair value | 41,984 | 47,786 |
Securities available for sale, gross unrealized gains | 9 | 18 |
Securities available for sale, gross unrealized losses | $ 1,964 | $ 335 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities Available-for-sale and Held-to-maturity by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities held-to-maturity, amortized cost, due in one year or less | $ 1,568 | |
Securities held-to-maturity, fair value, due in one year or less | 1,568 | |
Securities held-to-maturity, amortized cost, due after ten years | 21,639 | |
Securities held-to-maturity, fair value, due after ten years | 19,428 | |
Securities held-to-maturity, amortized cost | 31,165 | $ 30,886 |
Securities held-to-maturity, fair value | 28,217 | 29,699 |
Securities available for sale, amortized cost, due in one year or less | 0 | |
Securities available for sale, fair value, due in one year or less | 0 | |
Securities available for sale, amortized cost, due after one year through five years | 4,219 | |
Securities available for sale, fair value, due after one year through five years | 4,215 | |
Securities available for sale, amortized cost, due after five years through ten years | 135,466 | |
Securities available for sale, fair value, due after five years through ten years | 125,245 | |
Securities available for sale, amortized cost, due after ten years | 91,538 | |
Securities available for sale, fair value, due after ten years | 92,048 | |
Securities available for sale, amortized cost | 790,241 | 748,350 |
Securities available for sale, fair value, total other securities | 761,032 | 738,354 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 23,207 | 22,913 |
Securities held-to-maturity, fair value | 20,996 | 21,889 |
Securities available for sale, fair value, total other securities | 232,913 | 228,704 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,958 | 7,973 |
Securities held-to-maturity, fair value | 7,221 | 7,810 |
Securities available for sale, amortized cost | 547,613 | 513,985 |
Securities available for sale, fair value, total other securities | 528,119 | 509,650 |
Total Other Securities [Member] | ||
Securities available for sale, amortized cost | 231,223 | |
Securities available for sale, fair value, total other securities | 221,508 | |
Mutual Fund Debt Securities [Member] | ||
Securities available for sale, amortized cost | 11,405 | 11,575 |
Securities available for sale, fair value, total other securities | $ 11,405 | $ 11,575 |
Note 4 - Securities - Available
Note 4 - Securities - Available for Sale Securities With Gross Unrealized Losses and Their Fair Value (Details) $ in Thousands | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 2 | 2 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 26,648 | $ 28,654 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 2,948 | 1,187 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 28,654 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 1,187 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 26,648 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 2,948 | $ 0 |
Securities have been in a continuous unrealized loss position, number of positions | 106 | 69 |
Securities have been in a continuous unrealized loss position, fair value | $ 630,554 | $ 519,702 |
Securities have been in a continuous unrealized loss position, unrealized losses | 29,914 | 12,583 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 256,175 | 325,020 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 5,623 | 2,827 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 374,379 | 194,682 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 24,291 | $ 9,756 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 1 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 19,427 | $ 20,844 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 2,211 | 1,024 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 20,844 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 1,024 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 19,427 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 2,211 | $ 0 |
Securities have been in a continuous unrealized loss position, number of positions | 11 | |
Securities have been in a continuous unrealized loss position, fair value | $ 28,686 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 61 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 28,686 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 61 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | ||
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | ||
Other Debt Obligations [Member] | ||
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 1 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 19,427 | $ 20,844 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 2,211 | 1,024 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 20,844 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 1,024 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 19,427 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 2,211 | |
Securities have been in a continuous unrealized loss position, number of positions | 25 | 14 |
Securities have been in a continuous unrealized loss position, fair value | $ 128,442 | $ 102,767 |
Securities have been in a continuous unrealized loss position, unrealized losses | 10,304 | 7,233 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 28,686 | 9,723 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 61 | 277 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 99,756 | 93,044 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 10,243 | $ 6,956 |
FNMA [Member] | ||
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 1 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 7,221 | $ 7,810 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 737 | 163 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 7,810 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 163 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 7,221 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 737 | |
Securities have been in a continuous unrealized loss position, number of positions | 23 | 17 |
Securities have been in a continuous unrealized loss position, fair value | $ 123,654 | $ 120,510 |
Securities have been in a continuous unrealized loss position, unrealized losses | 5,276 | 1,054 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 38,461 | 109,258 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 904 | 850 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 85,193 | 11,252 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 4,372 | $ 204 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 1 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 7,221 | $ 7,810 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 737 | 163 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 7,810 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 163 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 7,221 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 737 | |
Securities have been in a continuous unrealized loss position, number of positions | 81 | 55 |
Securities have been in a continuous unrealized loss position, fair value | $ 502,112 | $ 416,935 |
Securities have been in a continuous unrealized loss position, unrealized losses | 19,610 | 5,350 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 227,489 | 315,297 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 5,562 | 2,550 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 274,623 | 101,638 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 14,048 | $ 2,800 |
Corporate Debt Securities [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 14 | 14 |
Securities have been in a continuous unrealized loss position, fair value | $ 99,756 | $ 102,767 |
Securities have been in a continuous unrealized loss position, unrealized losses | 10,243 | 7,233 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 9,723 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 277 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 99,756 | 93,044 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 10,243 | $ 6,956 |
REMIC and CMO [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 56 | 36 |
Securities have been in a continuous unrealized loss position, fair value | $ 337,184 | $ 249,596 |
Securities have been in a continuous unrealized loss position, unrealized losses | 12,370 | 3,961 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 189,028 | 162,781 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 4,658 | 1,406 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 148,156 | 86,815 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 7,712 | $ 2,555 |
FHLMC [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 2 | 2 |
Securities have been in a continuous unrealized loss position, fair value | $ 41,274 | $ 46,829 |
Securities have been in a continuous unrealized loss position, unrealized losses | 1,964 | 335 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 43,258 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 294 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 41,274 | 3,571 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 1,964 | $ 41 |
Note 4 - Securities - Gross Gai
Note 4 - Securities - Gross Gain (Loss) Realized From the Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Gross gains from the sale of securities | $ 401 | $ 401 | ||
Gross losses from the sale of securities | (587) | (587) | ||
Net losses from the sale of securities | $ (186) | $ (186) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017 | Sep. 30, 2018USD ($) | Sep. 30, 2017 | |
Fair Value of Collateral Dependent Loans as a Percentage of Appraised or Estimated Value of Collateral | 85.00% | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ (200,000) | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | |||
TDR Loans Transferred to Non-performing, Number of Contracts | 0 | 0 | 0 | 0 |
Extension of Credit [Member] | ||||
Commitments and Contingencies | $ 45,000,000 | $ 45,000,000 | ||
Extension of Lines of Credit [Member] | ||||
Commitments and Contingencies | $ 304,100,000 | $ 304,100,000 | ||
Originated Before January 1, 2010 [Member] | ||||
Percent of Loan Portfolio to Total Loans | 11.00% | 11.00% | ||
Residential Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses, Loss Emergence Period | 1 year 120 days | |||
Commercial Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses, Loss Emergence Period | 1 year 211 days | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Number of Real Estate Classified as Troubled Debt Restructuring Sold | 1 | |||
Financing Receivable, Modification, Sold During Period | $ 1,800,000 | |||
Loss on Sale of Real Estate Classified as Troubled Debt Restructuring | $ 300,000 | |||
Taxi Medallion Portfolio Segment [Member] | ||||
Number of Assets Foreclosed on During the Period | 1 | |||
Taxi Medallion Portfolio Segment [Member] | Other Assets [Member] | ||||
Other Repossessed Assets | $ 35,000 | $ 35,000 |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified and Classified as TDR (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 1 | 4 | 1 | 9 |
Financing Receivable, Modifications, Balance | $ 1,620 | $ 1,306 | $ 1,620 | $ 5,595 |
Taxi Medallion Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 4 | 9 | ||
Financing Receivable, Modifications, Balance | $ 1,306 | $ 5,595 | ||
Commercial Business and Other [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Modifications, Balance | $ 1,620 | $ 1,620 |
Note 5 - Loans - Troubled Debt
Note 5 - Loans - Troubled Debt Restructurings That Are Performing According to Their Restructured Terms (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017 | Sep. 30, 2018USD ($) | Sep. 30, 2017 | Dec. 31, 2017USD ($) | |
Number of contracts | 1 | 4 | 1 | 9 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||
Performing Financial Instruments [Member] | |||||
Number of contracts | 37 | 41 | |||
Recorded investment | $ 11,448 | $ 11,448 | $ 13,207 | ||
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | |||
Recorded investment, not performing | $ 383 | $ 383 | |||
Multi-Family Residential [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 7 | 9 | |||
Recorded investment | 1,927 | $ 1,927 | $ 2,518 | ||
Multi-family Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 | |||
Recorded investment, not performing | $ 383 | $ 383 | |||
Commercial Real Estate Loans [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 2 | ||||
Recorded investment | $ 1,986 | ||||
One-To-Four Family - Mixed Used Property [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 5 | 5 | |||
Recorded investment | 1,713 | $ 1,713 | $ 1,753 | ||
One-To-Four Family - Residential [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 3 | 3 | |||
Recorded investment | 557 | $ 557 | $ 572 | ||
Taxi Medallion Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 19 | 20 | |||
Recorded investment | 5,366 | $ 5,366 | $ 5,916 | ||
Commercial Business and Other [Member] | Performing Financial Instruments [Member] | |||||
Number of contracts | 3 | 2 | |||
Recorded investment | $ 1,885 | $ 1,885 | $ 462 |
Note 5 - Loans - Non-performing
Note 5 - Loans - Non-performing Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans ninety days or more past due and still accruing | $ 111 | $ 2,424 |
Non-accrual loans | 12,533 | 15,710 |
Total non-performing loans | 12,644 | 18,134 |
Mortgage Receivable [Member] | ||
Non-accrual loans | 9,665 | 14,746 |
Non-Mortgage Loans [Member] | ||
Non-accrual loans | 2,868 | 964 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans ninety days or more past due and still accruing | 111 | 2,424 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 1,398 | 1,473 |
Multi-family Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 862 | 3,598 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 795 | 1,867 |
One-To-Four Family - Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 6,610 | 7,808 |
Small Business Administration Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | 1,395 | 46 |
Taxi Medallion Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | 712 | 918 |
Commercial Business and Other Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | $ 761 |
Note 5 - Loans - Summary of Int
Note 5 - Loans - Summary of Interest Foregone on Non-accrual Loans and Loans Classified as TDR (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest income that would have been recognized had the loans performed in accordance with their original terms | $ 398 | $ 401 | $ 1,194 | $ 1,249 |
Less: Interest income included in the results of operations | 173 | 166 | 487 | 434 |
Total foregone interest | $ 225 | $ 235 | $ 707 | $ 815 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans, past due | $ 22,056 | $ 28,815 |
Loans, current | 5,342,780 | 5,131,421 |
Total Loans | 5,364,836 | 5,160,236 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 6,984 | 7,706 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 3,139 | 4,124 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 11,933 | 16,985 |
Multi-family Residential Portfolio Segment [Member] | ||
Loans, past due | 4,582 | 6,410 |
Loans, current | 2,230,788 | 2,267,185 |
Total Loans | 2,235,370 | 2,273,595 |
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 3,233 | 2,533 |
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 486 | 279 |
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 863 | 3,598 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, past due | 4,096 | 7,774 |
Loans, current | 1,456,459 | 1,360,338 |
Total Loans | 1,460,555 | 1,368,112 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 562 | 1,680 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 2,025 | 2,197 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,509 | 3,897 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Loans, past due | 2,815 | 4,297 |
Loans, current | 562,487 | 559,909 |
Total Loans | 565,302 | 564,206 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,657 | 1,570 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 362 | 860 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 796 | 1,867 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Loans, past due | 8,258 | 10,224 |
Loans, current | 180,717 | 170,439 |
Total Loans | 188,975 | 180,663 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,382 | 1,921 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 266 | 680 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 6,610 | 7,623 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Loans, past due | ||
Loans, current | 7,771 | 6,895 |
Total Loans | 7,771 | 6,895 |
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | ||
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Construction Portfolio Segment [Member] | ||
Loans, past due | ||
Loans, current | 40,239 | 8,479 |
Total Loans | 40,239 | 8,479 |
Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | ||
Construction Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Small Business Administration Portfolio Segment [Member] | ||
Loans, past due | 1,540 | |
Loans, current | 12,782 | 18,479 |
Total Loans | 14,322 | 18,479 |
Small Business Administration Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 145 | |
Small Business Administration Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Small Business Administration Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,395 | |
Taxi Medallion Portfolio Segment [Member] | ||
Loans, past due | 108 | |
Loans, current | 6,078 | 6,726 |
Total Loans | 6,078 | 6,834 |
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | ||
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 108 | |
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Business and Other Portfolio Segment [Member] | ||
Loans, past due | 765 | 2 |
Loans, current | 845,459 | 732,971 |
Total Loans | 846,224 | 732,973 |
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 5 | 2 |
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | $ 760 |
Note 5 - Loans - Activity in th
Note 5 - Loans - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Beginning balance | $ 20,220 | $ 22,157 | $ 20,351 | $ 22,229 |
Charge-off's | (220) | (324) | (721) | (853) |
Recoveries | 309 | 170 | 526 | 627 |
Provision (Benefit) | 3,266 | 153 | 3,266 | |
Ending balance | 20,309 | 25,269 | 20,309 | 25,269 |
Multi-family Residential Portfolio Segment [Member] | ||||
Beginning balance | 5,538 | 5,917 | 5,823 | 5,923 |
Charge-off's | (18) | (290) | (99) | (452) |
Recoveries | 66 | 2 | 297 | |
Provision (Benefit) | 37 | 43 | (169) | (32) |
Ending balance | 5,557 | 5,736 | 5,557 | 5,736 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning balance | 4,726 | 4,688 | 4,643 | 4,487 |
Charge-off's | (4) | |||
Recoveries | 25 | 93 | ||
Provision (Benefit) | (650) | (86) | (567) | 51 |
Ending balance | 4,076 | 4,627 | 4,076 | 4,627 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||||
Beginning balance | 2,297 | 2,568 | 2,545 | 2,903 |
Charge-off's | (3) | (1) | (3) | (36) |
Recoveries | 39 | 118 | 68 | |
Provision (Benefit) | (407) | (49) | (734) | (417) |
Ending balance | 1,926 | 2,518 | 1,926 | 2,518 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||||
Beginning balance | 1,003 | 990 | 1,082 | 1,015 |
Charge-off's | (1) | (170) | ||
Recoveries | 258 | 58 | 370 | 58 |
Provision (Benefit) | (382) | (90) | (572) | 55 |
Ending balance | 879 | 958 | 879 | 958 |
Construction Portfolio Segment [Member] | ||||
Beginning balance | 264 | 130 | 68 | 92 |
Charge-off's | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision (Benefit) | (2) | (13) | 194 | 25 |
Ending balance | 262 | 117 | 262 | 117 |
Small Business Administration Portfolio Segment [Member] | ||||
Beginning balance | 549 | 306 | 669 | 481 |
Charge-off's | (144) | (196) | (89) | |
Recoveries | 10 | 17 | 25 | 66 |
Provision (Benefit) | 138 | 70 | 55 | (65) |
Ending balance | 553 | 393 | 553 | 393 |
Taxi Medallion Portfolio Segment [Member] | ||||
Beginning balance | 2,330 | 2,243 | ||
Charge-off's | (40) | (393) | (54) | |
Recoveries | ||||
Provision (Benefit) | 40 | 3,661 | 393 | 3,802 |
Ending balance | 5,991 | 5,991 | ||
Commercial Business and Other Portfolio Segment [Member] | ||||
Beginning balance | 5,832 | 4,668 | 5,521 | 4,492 |
Charge-off's | (15) | (33) | (29) | (48) |
Recoveries | 2 | 4 | 11 | 45 |
Provision (Benefit) | 1,186 | 290 | 1,502 | 440 |
Ending balance | 7,005 | 4,929 | 7,005 | 4,929 |
Unallocated Financing Receivables [Member] | ||||
Beginning balance | 11 | 560 | 593 | |
Charge-off's | ||||
Recoveries | ||||
Provision (Benefit) | 40 | (560) | 51 | (593) |
Ending balance | $ 51 | $ 51 |
Note 5 - Loans - Loans Evaluate
Note 5 - Loans - Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing receivables, ending balance | $ 5,364,836 | $ 5,160,236 |
Financing receivables, individually evaluated for impairment | 53,036 | 39,163 |
Financing receivables, collectively evaluated for impairment | 5,311,800 | 5,121,073 |
Ending balance: individually evaluated for impairment | 308 | 642 |
Ending balance: collectively evaluated for impairment | 20,001 | 19,709 |
Multi-family Residential Portfolio Segment [Member] | ||
Financing receivables, ending balance | 2,235,370 | 2,273,595 |
Financing receivables, individually evaluated for impairment | 5,023 | 7,311 |
Financing receivables, collectively evaluated for impairment | 2,230,347 | 2,266,284 |
Ending balance: individually evaluated for impairment | 102 | 205 |
Ending balance: collectively evaluated for impairment | 5,455 | 5,618 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables, ending balance | 1,460,555 | 1,368,112 |
Financing receivables, individually evaluated for impairment | 4,206 | 9,089 |
Financing receivables, collectively evaluated for impairment | 1,456,349 | 1,359,023 |
Ending balance: individually evaluated for impairment | 177 | |
Ending balance: collectively evaluated for impairment | 4,076 | 4,466 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Financing receivables, ending balance | 565,302 | 564,206 |
Financing receivables, individually evaluated for impairment | 3,680 | 5,445 |
Financing receivables, collectively evaluated for impairment | 561,622 | 558,761 |
Ending balance: individually evaluated for impairment | 151 | 198 |
Ending balance: collectively evaluated for impairment | 1,775 | 2,347 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Financing receivables, ending balance | 188,975 | 180,663 |
Financing receivables, individually evaluated for impairment | 7,561 | 9,686 |
Financing receivables, collectively evaluated for impairment | 181,414 | 170,977 |
Ending balance: individually evaluated for impairment | 53 | 56 |
Ending balance: collectively evaluated for impairment | 826 | 1,026 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Financing receivables, ending balance | 7,771 | 6,895 |
Financing receivables, individually evaluated for impairment | 0 | |
Financing receivables, collectively evaluated for impairment | 7,771 | 6,895 |
Ending balance: individually evaluated for impairment | 0 | |
Ending balance: collectively evaluated for impairment | 0 | |
Construction Portfolio Segment [Member] | ||
Financing receivables, ending balance | 40,239 | 8,479 |
Financing receivables, individually evaluated for impairment | ||
Financing receivables, collectively evaluated for impairment | 40,239 | 8,479 |
Ending balance: individually evaluated for impairment | 0 | |
Ending balance: collectively evaluated for impairment | 262 | 68 |
Small Business Administration Portfolio Segment [Member] | ||
Financing receivables, ending balance | 14,322 | 18,479 |
Financing receivables, individually evaluated for impairment | 1,429 | 137 |
Financing receivables, collectively evaluated for impairment | 12,893 | 18,342 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 553 | 669 |
Taxi Medallion Portfolio Segment [Member] | ||
Financing receivables, ending balance | 6,078 | 6,834 |
Financing receivables, individually evaluated for impairment | 6,078 | 6,834 |
Financing receivables, collectively evaluated for impairment | ||
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | ||
Commercial Business and Other Portfolio Segment [Member] | ||
Financing receivables, ending balance | 846,224 | 732,973 |
Financing receivables, individually evaluated for impairment | 25,059 | 661 |
Financing receivables, collectively evaluated for impairment | 821,165 | 732,312 |
Ending balance: individually evaluated for impairment | 2 | 6 |
Ending balance: collectively evaluated for impairment | 7,003 | 5,515 |
Unallocated Financing Receivables [Member] | ||
Financing receivables, ending balance | ||
Financing receivables, individually evaluated for impairment | ||
Financing receivables, collectively evaluated for impairment | ||
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | $ 51 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Recorded investment, with no related allowance recorded | $ 49,869 | $ 49,869 | $ 32,968 | |||
Unpaid principal balance, with no related allowance recorded | 63,051 | 63,051 | 46,583 | |||
Recorded investment, with an allowance recorded | 3,167 | 3,167 | 6,195 | |||
Unpaid principal balance, with an allowance recorded | 3,167 | 3,167 | 6,195 | |||
Related allowance | 308 | 308 | 642 | |||
Loans designated as criticized or classified | 56,667 | 56,667 | 62,684 | |||
Average Recorded Investment, With no related allowance recorded | 47,351 | $ 28,466 | 41,870 | $ 30,371 | ||
Interest Income Recognized, With no related allowance recorded | 713 | 191 | 1,470 | 677 | ||
Average Recorded Investment, With an allowance recorded | 3,643 | 21,250 | 3,816 | 21,277 | ||
Interest Income Recognized, With an allowance recorded | 42 | 150 | 142 | 424 | ||
Mortgage Receivable [Member] | ||||||
Related allowance | 306 | 306 | 636 | |||
Loans designated as criticized or classified | 20,470 | 20,470 | 31,531 | |||
Unpaid principal balance, total impaired loans | 21,870 | 21,870 | 33,534 | |||
Average Recorded Investment, Total Impaired Loans | 23,505 | 29,924 | 24,986 | 31,017 | ||
Interest Income Recognized, Total Impaired Loans | 154 | 233 | 522 | 742 | ||
Non-Mortgage Loans [Member] | ||||||
Related allowance | 2 | 2 | 6 | |||
Loans designated as criticized or classified | 32,566 | 32,566 | 7,632 | |||
Unpaid principal balance, total impaired loans | 44,348 | 44,348 | 19,244 | |||
Average Recorded Investment, Total Impaired Loans | 27,489 | 19,792 | 20,700 | 20,631 | ||
Interest Income Recognized, Total Impaired Loans | 601 | 108 | 1,090 | 359 | ||
Multi-family Residential Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 6,187 | 6,187 | 11,182 | |||
Multi-family Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Recorded investment, with no related allowance recorded | 3,741 | 3,741 | 5,091 | |||
Unpaid principal balance, with no related allowance recorded | 4,288 | 4,288 | 5,539 | |||
Recorded investment, with an allowance recorded | 1,282 | 1,282 | 2,220 | |||
Unpaid principal balance, with an allowance recorded | 1,282 | 1,282 | 2,220 | |||
Related allowance | 102 | 102 | 205 | |||
Average Recorded Investment, With no related allowance recorded | 4,013 | 2,451 | 4,201 | 2,650 | ||
Interest Income Recognized, With no related allowance recorded | 31 | 12 | 67 | 57 | ||
Average Recorded Investment, With an allowance recorded | 1,740 | 2,242 | 1,896 | 2,391 | ||
Interest Income Recognized, With an allowance recorded | 19 | 28 | 78 | 107 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 7,175 | 7,175 | 10,891 | |||
Commercial Real Estate Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Recorded investment, with no related allowance recorded | 4,206 | 4,206 | 7,103 | |||
Unpaid principal balance, with no related allowance recorded | 4,206 | 4,206 | 7,103 | |||
Recorded investment, with an allowance recorded | 1,986 | |||||
Unpaid principal balance, with an allowance recorded | 1,986 | |||||
Related allowance | 177 | |||||
Average Recorded Investment, With no related allowance recorded | 4,587 | 5,142 | 5,300 | 5,881 | ||
Interest Income Recognized, With no related allowance recorded | 50 | 60 | 176 | 214 | ||
Average Recorded Investment, With an allowance recorded | 2,040 | 1,206 | 2,039 | |||
Interest Income Recognized, With an allowance recorded | 24 | 39 | 72 | |||
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 3,182 | 3,182 | 6,526 | |||
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Recorded investment, with no related allowance recorded | 2,484 | 2,484 | 4,218 | |||
Unpaid principal balance, with no related allowance recorded | 2,703 | 2,703 | 4,556 | |||
Recorded investment, with an allowance recorded | 1,196 | 1,196 | 1,227 | |||
Unpaid principal balance, with an allowance recorded | 1,196 | 1,196 | 1,227 | |||
Related allowance | 151 | 151 | 198 | |||
Average Recorded Investment, With no related allowance recorded | 3,452 | 5,269 | 3,759 | 5,399 | ||
Interest Income Recognized, With no related allowance recorded | 28 | 45 | 108 | 123 | ||
Average Recorded Investment, With an allowance recorded | 1,201 | 1,445 | 407 | 1,379 | ||
Interest Income Recognized, With an allowance recorded | 15 | 16 | 12 | 50 | ||
One-To-Four Family - Residential Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 7,485 | 7,485 | ||||
One-To-Four Family - Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Recorded investment, with no related allowance recorded | 7,158 | 7,158 | 9,272 | |||
Unpaid principal balance, with no related allowance recorded | 7,792 | 7,792 | 10,489 | |||
Recorded investment, with an allowance recorded | 403 | 403 | 414 | |||
Unpaid principal balance, with an allowance recorded | 403 | 403 | 414 | |||
Related allowance | 53 | 53 | 56 | |||
Average Recorded Investment, With no related allowance recorded | 7,742 | 10,023 | 7,974 | 10,062 | ||
Interest Income Recognized, With no related allowance recorded | 7 | 29 | 32 | 85 | ||
Average Recorded Investment, With an allowance recorded | 405 | 422 | 422 | |||
Interest Income Recognized, With an allowance recorded | 4 | 4 | 12 | |||
Construction Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||||
Average Recorded Investment, With no related allowance recorded | 365 | 890 | 243 | 794 | ||
Interest Income Recognized, With no related allowance recorded | 15 | 10 | 22 | |||
Small Business Administration Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 761 | 761 | 656 | [1] | ||
Small Business Administration Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||||||
Recorded investment, with no related allowance recorded | 1,429 | 1,429 | 137 | |||
Unpaid principal balance, with no related allowance recorded | 1,577 | 1,577 | 151 | |||
Average Recorded Investment, With no related allowance recorded | 739 | 260 | 526 | 230 | ||
Interest Income Recognized, With no related allowance recorded | 31 | 5 | 33 | 9 | ||
Taxi Medallion Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 6,078 | 6,078 | 6,834 | |||
Taxi Medallion Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||||||
Recorded investment, with no related allowance recorded | 6,078 | 6,078 | 6,834 | |||
Unpaid principal balance, with no related allowance recorded | 17,343 | 17,343 | 18,063 | |||
Average Recorded Investment, With no related allowance recorded | 6,152 | 3,177 | 6,307 | 3,771 | ||
Interest Income Recognized, With no related allowance recorded | 84 | 19 | 252 | 74 | ||
Average Recorded Investment, With an allowance recorded | 14,716 | 14,663 | ||||
Interest Income Recognized, With an allowance recorded | 73 | 166 | ||||
Commercial Business and Other Portfolio Segment [Member] | ||||||
Loans designated as criticized or classified | 25,799 | 25,799 | 15,404 | |||
Commercial Business and Other Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||||||
Recorded investment, with no related allowance recorded | 24,773 | 24,773 | 313 | |||
Unpaid principal balance, with no related allowance recorded | 25,142 | 25,142 | 682 | |||
Recorded investment, with an allowance recorded | 286 | 286 | 348 | |||
Unpaid principal balance, with an allowance recorded | 286 | 286 | 348 | |||
Related allowance | 2 | 2 | $ 6 | |||
Average Recorded Investment, With no related allowance recorded | 20,301 | 1,254 | 13,560 | 1,584 | ||
Interest Income Recognized, With no related allowance recorded | 482 | 6 | 792 | 93 | ||
Average Recorded Investment, With an allowance recorded | 297 | 385 | 307 | 383 | ||
Interest Income Recognized, With an allowance recorded | $ 4 | $ 5 | $ 13 | $ 17 | ||
[1] | Balances shown are net of the portion guaranteed by the Small Business Administration totaling $1.5 million and $0.1 million at December 31, 2016 and 2015, respectively. |
Note 5 - Loans - Loans Designat
Note 5 - Loans - Loans Designated as Criticized or Classified (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | |
Loans designated as criticized or classified | $ 56,667 | $ 62,684 | |
Special Mention [Member] | |||
Loans designated as criticized or classified | 8,992 | 28,727 | |
Substandard [Member] | |||
Loans designated as criticized or classified | 47,675 | 33,957 | |
Doubtful [Member] | |||
Loans designated as criticized or classified | |||
Loss [Member] | |||
Loans designated as criticized or classified | |||
Multi-family Residential Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 6,187 | 11,182 | |
Multi-family Residential Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 3,092 | 6,389 | |
Multi-family Residential Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 3,095 | 4,793 | |
Multi-family Residential Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
Multi-family Residential Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 7,175 | 10,891 | |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 2,969 | 2,020 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 4,206 | 8,871 | |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 3,182 | 6,526 | |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 1,215 | 2,835 | |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 1,967 | 3,691 | |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Residential Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 7,485 | ||
One-To-Four Family - Residential Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 480 | ||
One-To-Four Family - Residential Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 7,005 | ||
One-To-Four Family - Residential Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Residential Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Residential [Member] | |||
Loans designated as criticized or classified | 11,191 | ||
One-To-Four Family - Residential [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 2,076 | ||
One-To-Four Family - Residential [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 9,115 | ||
One-To-Four Family - Residential [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
One-To-Four Family - Residential [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
Small Business Administration Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 761 | 656 | [1] |
Small Business Administration Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 487 | 548 | [1] |
Small Business Administration Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 274 | 108 | [1] |
Small Business Administration Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | [1] | ||
Small Business Administration Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | [1] | ||
Taxi Medallion Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 6,078 | 6,834 | |
Taxi Medallion Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | |||
Taxi Medallion Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 6,078 | 6,834 | |
Taxi Medallion Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
Taxi Medallion Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
Commercial Business and Other Portfolio Segment [Member] | |||
Loans designated as criticized or classified | 25,799 | 15,404 | |
Commercial Business and Other Portfolio Segment [Member] | Special Mention [Member] | |||
Loans designated as criticized or classified | 749 | 14,859 | |
Commercial Business and Other Portfolio Segment [Member] | Substandard [Member] | |||
Loans designated as criticized or classified | 25,050 | 545 | |
Commercial Business and Other Portfolio Segment [Member] | Doubtful [Member] | |||
Loans designated as criticized or classified | |||
Commercial Business and Other Portfolio Segment [Member] | Loss [Member] | |||
Loans designated as criticized or classified | |||
[1] | Balances shown are net of the portion guaranteed by the Small Business Administration totaling $1.5 million and $0.1 million at December 31, 2016 and 2015, respectively. |
Note 6 - Loans Held for Sale (D
Note 6 - Loans Held for Sale (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 0 | $ 0 |
Note 6 - Loans Held for Sale -
Note 6 - Loans Held for Sale - Delinquent and Non-performing Loans Sold During the Period Indicated (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Nonperforming Financial Instruments [Member] | ||||
Loans sold | 6 | 8 | 12 | 14 |
Proceeds | $ 4,210 | $ 2,738 | $ 8,739 | $ 4,863 |
Net (charge-offs) recoveries | 68 | 68 | (37) | |
Net gain (loss) | $ 10 | $ 179 | $ (225) | $ 208 |
Nonperforming Financial Instruments [Member] | Multi-family Residential Portfolio Segment [Member] | ||||
Loans sold | 1 | 2 | 4 | 2 |
Proceeds | $ 595 | $ 707 | $ 1,559 | $ 707 |
Net (charge-offs) recoveries | ||||
Net gain (loss) | $ 30 | $ 30 | ||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Loans sold | 1 | 3 | 4 | 4 |
Proceeds | $ 2,500 | $ 1,118 | $ 6,065 | $ 1,453 |
Net (charge-offs) recoveries | (4) | |||
Net gain (loss) | $ 34 | $ (235) | $ 35 | |
Nonperforming Financial Instruments [Member] | One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||||
Loans sold | 2 | 3 | 2 | 8 |
Proceeds | $ 725 | $ 913 | $ 725 | $ 2,703 |
Net (charge-offs) recoveries | (4) | (4) | (33) | |
Net gain (loss) | $ 115 | $ 143 | ||
Nonperforming Financial Instruments [Member] | One-To-Four Family - Residential Portfolio Segment [Member] | ||||
Loans sold | 2 | 2 | ||
Proceeds | $ 390 | $ 390 | ||
Net (charge-offs) recoveries | 72 | 72 | ||
Net gain (loss) | $ 10 | $ 10 | ||
Performing Financial Instruments [Member] | ||||
Loans sold | 13 | 9 | 27 | |
Proceeds | $ 30,678 | $ 5,671 | $ 50,128 | |
Net gain (loss) | $ (27) | 393 | 188 | |
Net (charge-offs) recoveries | ||||
Performing Financial Instruments [Member] | Multi-family Residential Portfolio Segment [Member] | ||||
Loans sold | 10 | 12 | ||
Proceeds | $ 12,704 | $ 18,784 | ||
Net gain (loss) | $ (22) | (36) | ||
Net (charge-offs) recoveries | ||||
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Loans sold | 2 | 7 | ||
Proceeds | $ 17,832 | $ 26,283 | ||
Net gain (loss) | $ (7) | (28) | ||
Net (charge-offs) recoveries | ||||
Performing Financial Instruments [Member] | Small Business Administration Portfolio Segment [Member] | ||||
Loans sold | 1 | 9 | 8 | |
Proceeds | $ 142 | $ 5,671 | $ 5,061 | |
Net gain (loss) | $ 2 | 393 | 252 | |
Net (charge-offs) recoveries |
Note 7 - Other Real Estate Ow_2
Note 7 - Other Real Estate Owned (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Number of Real Estate Properties, Foreclosed | 1 | ||||
Proceeds from Sale of Foreclosed Assets | $ 600 | ||||
Repossessed Assets, Total | $ 0 | 0 | $ 0 | ||
Consumer Portfolio Segment [Member] | |||||
Mortgage Loans in Process of Foreclosure, Amount | 8,100 | $ 8,100 | $ 10,500 | ||
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Proceeds from Sale of Foreclosed Assets | $ 0 | $ 0 | $ 0 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 117 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | |
Allocated Share-based Compensation Expense, Total | $ 1,100,000 | $ 1,100,000 | $ 5,700,000 | $ 5,200,000 | |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 200,000 | $ 400,000 | $ 1,200,000 | $ 1,700,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 600 | 600 | 600 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 8.44 | $ 8.44 | $ 8.44 | ||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | 280,590 | 276,900 | |
Restricted Stock Units (RSUs) [Member] | Omnibus Plan 2014 [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 9,400,000 | $ 9,400,000 | $ 9,400,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 200,000 | $ 14,000 | $ 7,000,000 | $ 7,000,000 | |
Phantom Share Units (PSUs) [Member] | Phantom Stock Plan [Member] | |||||
Allocated Share-based Compensation Expense, Total | 100,000 | 200,000 | 200,000 | 100,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 1,000 | $ 200,000 | $ 2,000 | $ 200,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Full Value Awards (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Non-vested RSU's, beginning balance (in shares) | 497,322 | |||
Non-vested RSU's, weighted-average grant-date fair value, beginning balance (in dollars per share) | $ 22.46 | |||
Granted RSU's (in shares) | 0 | 0 | 280,590 | 276,900 |
Granted RSU's, weighted-average grant-date fair value (in dollars per share) | $ 28.19 | |||
Vested RSU's (in shares) | (248,319) | |||
Vested RSU's, weighted-average grant-date fair value (in dollars per share) | $ 23.68 | |||
Forfeited RSU's (in shares) | (11,955) | |||
Forfeited RSU's, weighted-average grant-date fair value (in dollars per share) | $ 25.31 | |||
Non-vested RSU's, ending balance (in shares) | 517,638 | 517,638 | ||
Non-vested RSU's, weighted-average grant-date fair value, ending balance (in dollars per share) | $ 24.91 | $ 24.91 | ||
Vested RSU's but unissued (in shares) | 234,799 | 234,799 | ||
Vested RSU's but unissued, weighted-average grant-date fair value (in dollars per share) | $ 25.14 | $ 25.14 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Phantom Stock Plan (Details) - Phantom Share Units (PSUs) [Member] - Phantom Stock Plan [Member] | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Outstanding, beginning balance (in shares) | shares | 89,180 |
Outstanding, beginning balance (in dollars per share) | $ / shares | $ 27.50 |
Granted (in shares) | shares | 9,750 |
Granted (in dollars per share) | $ / shares | $ 27.47 |
Forfeited (in shares) | shares | |
Forfeited (in dollars per share) | $ / shares | |
Distributions (in shares) | shares | (65) |
Distributions (in dollars per share) | $ / shares | $ 26.16 |
Outstanding, ending balance (in shares) | shares | 98,865 |
Outstanding, ending (in dollars per share) | $ / shares | $ 24.40 |
Vested at September 30, 2018 (in shares) | shares | 98,397 |
Vested at September 30, 2018 (in dollars per share) | $ / shares | $ 24.40 |
Note 9 - Pension and Other Po_3
Note 9 - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Directors' Plan [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 200,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 72,000 | |
Retirement Plan [Member] | Savings Bank [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 0 | |
Other Postretirement Benefit Plans [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 200,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 64,000 |
Note 9 - Pension and Other Po_4
Note 9 - Pension and Other Postretirement Benefit Plans - Components of Net Expense for Pension, Outside, and Other Postretirement Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Employee Pension Plan [Member] | ||||
Interest cost | $ 195 | $ 216 | $ 585 | $ 648 |
Amortization of unrecognized loss | 155 | 174 | 465 | 523 |
Expected return on plan assets | (363) | (348) | (1,089) | (1,044) |
Net employee pension ( benefit) expense | (13) | 42 | (39) | 127 |
Directors' Plan [Member] | ||||
Interest cost | 19 | 23 | 60 | 69 |
Amortization of unrecognized loss | (23) | (23) | (69) | (69) |
Net employee pension ( benefit) expense | 10 | 20 | 33 | 60 |
Service cost | 11 | 10 | 33 | 30 |
Amortization of past service liability | 3 | 10 | 9 | 30 |
Other Postretirement Benefit Plans [Member] | ||||
Interest cost | 77 | 76 | 231 | 228 |
Net employee pension ( benefit) expense | 152 | 134 | 458 | 401 |
Service cost | 88 | 79 | 264 | 237 |
Amortization of past service liability | $ (13) | $ (21) | $ (37) | $ (64) |
Note 10 - Fair Value of Finan_3
Note 10 - Fair Value of Financial Instruments (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Financial Assets at Fair Value Option | $ 13,900 | $ 13,900 | $ 14,300 | ||
Financial Liabilities at Fair Value Option | 40,200 | 40,200 | 37,000 | ||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (170) | $ (1,297) | (537) | $ (2,834) | |
Financial Liabilites at Fair Value Option Contractual Principal | 61,900 | 61,900 | 61,900 | ||
Financial Liabilities at Fair Value Option Accrued Interest Payable | $ 200 | $ 200 | 200 | ||
Appraised Value of Property [Member] | |||||
Collateral Dependent Loans Measurement Input | 0.85 | 0.85 | |||
Fair Value, Measurements, Nonrecurring [Member] | |||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | ||
Interest Rate Swaps [Member] | |||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 500 | $ (400) | $ 2,900 | $ (900) |
Note 10 - Fair Value of Finan_4
Note 10 - Fair Value of Financial Instruments - Financial Assets and Liabilities Reported Under the Fair Value Option (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Financial Assets at Fair Value Option | $ 13,900 | $ 13,900 | $ 14,300 | |||
Net loss from fair value adjustments | (170) | $ (1,297) | (537) | $ (2,834) | ||
Collateralized Mortgage Backed Securities [Member] | ||||||
Financial Assets at Fair Value Option | 1,330 | 1,330 | 1,590 | |||
Net loss from fair value adjustments | (6) | (5) | (17) | (15) | ||
Other Securities [Member] | ||||||
Financial Assets at Fair Value Option | 12,610 | 12,610 | 12,685 | |||
Net loss from fair value adjustments | (72) | 40 | (272) | 184 | ||
Junior Subordinated Debentures [Member] | ||||||
Financial Assets at Fair Value Option | 40,151 | 40,151 | $ 36,986 | |||
Net loss from fair value adjustments | (607) | (925) | (3,155) | (2,090) | ||
Financial Assets and Liabilities, Excluding Interest Rate Caps / Swaps [Member] | ||||||
Net loss from fair value adjustments | [1],[2] | $ (685) | $ (890) | $ (3,444) | $ (1,921) | |
[1] | The net loss from fair value adjustments presented in the above table does not include net gains (losses) of $0.5 million and ($0.4) million for the three months ended September 30, 2018 and 2017, respectively, from the change in the fair value of interest rate swaps. | |||||
[2] | The net loss from fair value adjustments presented in the above table does not include net gains (losses) of $2.9 million and ($0.9) million for the nine months ended September 30, 2018 and 2017, respectively, from the change in the fair value of interest rate swaps. |
Note 10 - Fair Value of Finan_5
Note 10 - Fair Value of Financial Instruments - Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities available for sale, fair value | $ 761,032 | $ 738,354 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | 528,119 | 509,650 |
Other Securities [Member] | ||
Securities available for sale, fair value | 1,205 | 1,110 |
Fair Value, Measurements, Recurring [Member] | ||
Total assets | 793,632 | 745,742 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 40,600 | 40,744 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | 528,119 | 509,650 |
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | ||
Securities available for sale, fair value | 232,913 | 228,704 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 32,600 | 7,388 |
Interest Rate Swaps, Net Amount | 449 | 3,758 |
Fair Value, Measurements, Recurring [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Fair Value | 40,151 | 36,986 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 11,405 | 11,575 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Securities [Member] | ||
Securities available for sale, fair value | 11,405 | 11,575 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | ||
Interest Rate Swaps, Net Amount | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 781,022 | 733,057 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 449 | 3,758 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | 528,119 | 509,650 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | ||
Securities available for sale, fair value | 220,303 | 216,019 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 32,600 | 7,388 |
Interest Rate Swaps, Net Amount | 449 | 3,758 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 1,205 | 1,110 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 40,151 | 36,986 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, fair value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Securities [Member] | ||
Securities available for sale, fair value | 1,205 | 1,110 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | ||
Interest Rate Swaps, Net Amount | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Fair Value | $ 40,151 | $ 36,986 |
Note 10 - Fair Value of Finan_6
Note 10 - Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value on a Recurring Basis, Classified Within Level 3 of the Valuation Hierarchy (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Trust Preferred Securities [Member] | |||||
Beginning balance | $ 1,188 | $ 7,444 | $ 1,110 | $ 7,361 | |
Security Call | (6,300) | (6,300) | |||
Net gain from fair value adjustment of financial assets | [1] | 17 | 28 | 94 | 108 |
Net loss from fair value adjustment of financial liabilities | [1] | ||||
Decrease in accrued interest receivable | (89) | 1 | (88) | ||
Increase (decrease) in accrued interest payable | |||||
Change in unrealized gains (losses) included in other comprehensive income | 2 | ||||
Ending balance | 1,205 | 1,083 | 1,205 | 1,083 | |
Changes in unrealized gains (losses) held at period end | 2 | ||||
Junior Subordinated Debentures [Member] | |||||
Beginning balance | 39,566 | 35,137 | 36,986 | 33,959 | |
Security Call | |||||
Net gain from fair value adjustment of financial assets | [1] | ||||
Net loss from fair value adjustment of financial liabilities | [1] | 607 | 925 | 3,155 | 2,090 |
Decrease in accrued interest receivable | |||||
Increase (decrease) in accrued interest payable | (9) | 9 | 42 | 22 | |
Change in unrealized gains (losses) included in other comprehensive income | (13) | (32) | |||
Ending balance | 40,151 | 36,071 | 40,151 | 36,071 | |
Changes in unrealized gains (losses) held at period end | $ (13) | $ (32) | |||
[1] | Totals in the table above are presented in the Consolidated Statement of Income under net gains (losses) from fair value adjustments. |
Note 10 - Fair Value of Finan_7
Note 10 - Fair Value of Financial Instruments - Quantitative Information About Recurring Level 3 Fair Value of Financial Instruments (Details) $ in Thousands | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Securities available for sale, fair value | $ 761,032 | $ 738,354 |
Valuation Technique, Discounted Cash Flow [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Fair Value | $ 40,151 | $ 36,986 |
Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Weighted average | 0.051 | 0.057 |
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Securities available for sale, fair value | $ 1,205 | $ 1,110 |
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | ||
Assets, Weighted average | 0.051 | 0.057 |
Note 10 - Fair Value of Finan_8
Note 10 - Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value on a Non-recurring Basis, and the Method Used to Determine Their Fair Value (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Impaired loans | $ 12,798 | $ 16,027 |
Other Repossessed Assets | 35 | |
Total assets | 12,833 | 16,027 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Other Repossessed Assets | ||
Total assets | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Other Repossessed Assets | ||
Total assets | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 12,798 | 16,027 |
Other Repossessed Assets | 35 | |
Total assets | $ 12,833 | $ 16,027 |
Note 10 - Fair Value of Finan_9
Note 10 - Fair Value of Financial Instruments - Quantitative Information About Non-recurring Level 3 Fair Value of Financial Instruments and the Fair Value Measurements (Details) $ in Thousands | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | $ 12,798 | $ 16,027 |
Other Repossessed Assets | $ 35 | |
Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Minimum [Member] | ||
Impaired loans, Measurement Input | 0.065 | 0.065 |
Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Maximum [Member] | ||
Impaired loans, Measurement Input | 0.075 | 0.075 |
Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.07 | 0.068 |
Valuation, Income Approach [Member] | Measurement Input, Loss Severity [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.15 |
Valuation, Income Approach [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.15 |
Valuation, Income Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Cap Rate [Member] | ||
Impaired loans | $ 1,525 | $ 1,818 |
Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | ||
Other repossesed assets, Measurement Input | 0.15 | |
Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Minimum [Member] | ||
Impaired loans, Measurement Input | (0.386) | (0.309) |
Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Maximum [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.15 |
Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.111 | 0.087 |
Other repossesed assets, Measurement Input | 0.15 | |
Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||
Impaired loans, Measurement Input | (0.5) | (0.5) |
Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.162 |
Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.021 | 0.008 |
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | $ 8,358 | $ 10,003 |
Other Repossessed Assets | $ 35 | |
Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Minimum [Member] | ||
Impaired loans, Measurement Input | 0.05 | 0.05 |
Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Maximum [Member] | ||
Impaired loans, Measurement Input | 0.098 | 0.098 |
Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.075 | 0.072 |
Blended Income and Sales Approach [Member] | Measurement Input, Loss Severity [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.15 |
Blended Income and Sales Approach [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.15 | 0.15 |
Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||
Impaired loans, Measurement Input | (0.3) | (0.3) |
Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||
Impaired loans, Measurement Input | 0.25 | 0.25 |
Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member] | ||
Impaired loans, Measurement Input | 0.012 | 0.012 |
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans | $ 2,915 | $ 4,206 |
Note 10 - Fair Value of Fina_10
Note 10 - Fair Value of Financial Instruments - Carrying Amounts and Estimated Fair Values of Selected Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Other securities | $ 28,217 | $ 29,699 |
Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | (390) | 3,728 |
Interest rate swaps | 449 | 3,758 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 45,094 | 51,546 |
Mortgage-backed securities | 7,958 | 7,973 |
Other securities | 23,207 | 22,913 |
Mortgage-backed securities | 528,119 | 509,650 |
Other securities | 232,913 | 228,704 |
Loans | 5,380,062 | 5,176,999 |
FHLB-NY stock | 54,942 | 60,089 |
Accrued interest receivable | 24,673 | 21,405 |
Deposits | 4,716,315 | 4,383,278 |
Liabilities, Fair Value | 1,197,101 | 1,309,653 |
Accrued interest payable | 6,732 | 2,659 |
Reported Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 32,600 | 7,388 |
Interest rate swaps | 449 | 3,758 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 45,094 | 51,546 |
Mortgage-backed securities | 7,221 | 7,810 |
Other securities | 20,996 | 21,889 |
Mortgage-backed securities | 528,119 | 509,650 |
Other securities | 232,913 | 228,704 |
Loans | 5,301,783 | 5,169,108 |
FHLB-NY stock | 54,942 | 60,089 |
Accrued interest receivable | 24,673 | 21,405 |
Deposits | 4,706,114 | 4,380,174 |
Liabilities, Fair Value | 1,184,589 | 1,310,487 |
Accrued interest payable | 6,732 | 2,659 |
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 32,600 | 7,388 |
Interest rate swaps | 449 | 3,758 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 45,094 | 51,546 |
Mortgage-backed securities | ||
Other securities | ||
Mortgage-backed securities | ||
Other securities | 11,405 | 11,575 |
Loans | ||
FHLB-NY stock | ||
Accrued interest receivable | 5 | 16 |
Deposits | 3,153,353 | 3,031,345 |
Liabilities, Fair Value | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | ||
Interest rate swaps | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | ||
Mortgage-backed securities | 7,221 | 7,810 |
Other securities | ||
Mortgage-backed securities | 528,119 | 509,650 |
Other securities | 220,303 | 216,019 |
Loans | ||
FHLB-NY stock | 54,942 | 60,089 |
Accrued interest receivable | 1,962 | 1,916 |
Deposits | 1,552,761 | 1,348,829 |
Liabilities, Fair Value | 1,144,438 | 1,273,501 |
Accrued interest payable | 6,732 | 2,659 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 32,600 | 7,388 |
Interest rate swaps | 449 | 3,758 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | ||
Mortgage-backed securities | ||
Other securities | 20,996 | 21,889 |
Mortgage-backed securities | ||
Other securities | 1,205 | 1,110 |
Loans | 5,301,783 | 5,169,108 |
FHLB-NY stock | ||
Accrued interest receivable | 22,706 | 19,473 |
Deposits | ||
Liabilities, Fair Value | 40,151 | 36,986 |
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | ||
Interest rate swaps |
Note 11 - Derivative Financia_3
Note 11 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Junior Subordinated Notes, Total | $ 40,151 | $ 40,151 | $ 36,986 | |||
Derivative Asset, Notional Amount | 747,555 | 747,555 | 739,726 | |||
Short-term Debt, Total | 441,500 | 441,500 | 441,500 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | 100 | 200 | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | $ 0 | 0 | $ 0 | ||
Not Designated as Hedging Instrument [Member] | ||||||
Derivative Asset, Notional Amount | 36,300 | 36,300 | 36,300 | |||
Designated as Hedging Instrument [Member] | ||||||
Derivative Asset, Notional Amount | 269,700 | 269,700 | 261,900 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Asset, Notional Amount | 441,500 | 441,500 | 441,500 | $ 0 | ||
Interest Rate Swap [Member] | ||||||
Derivative Asset, Notional Amount | 288,100 | 288,100 | 280,200 | |||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Asset, Notional Amount | 36,321 | 36,321 | 36,321 | |||
Floating Rate Junior Subordinated Debentures [Member] | ||||||
Derivative, Amount of Hedged Item | 18,000 | 18,000 | 18,000 | |||
Junior Subordinated Notes, Total | $ 61,900 | $ 61,900 | $ 61,900 |
Note 11 - Derivative Financia_4
Note 11 - Derivative Financial Instruments - Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest rate swaps, notional amount | $ 747,555 | $ 739,726 | ||
Interest rate swaps, net carrying value | [1] | 32,151 | 3,630 | |
Designated as Hedging Instrument [Member] | ||||
Interest rate swaps, notional amount | 269,700 | 261,900 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Interest rate swaps, notional amount | 441,500 | 441,500 | $ 0 | |
Not Designated as Hedging Instrument [Member] | ||||
Interest rate swaps, notional amount | 36,300 | 36,300 | ||
Interest Rate Swaps 1 [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||
Interest rate swaps, notional amount | 269,734 | 199,341 | ||
Interest rate swaps, net carrying value | [1] | 18,150 | 6,971 | |
Interest Rate Swaps 1 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Interest rate swaps, notional amount | 441,500 | 250,000 | ||
Interest rate swaps, net carrying value | [1] | 14,450 | 417 | |
Interest Rate Swaps 2 [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||
Interest rate swaps, notional amount | 62,564 | |||
Interest rate swaps, net carrying value | [1] | (921) | ||
Interest Rate Swaps 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Interest rate swaps, notional amount | 191,500 | |||
Interest rate swaps, net carrying value | [1] | (7) | ||
Interest Rate Swap [Member] | ||||
Interest rate swaps, notional amount | 288,100 | 280,200 | ||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Interest rate swaps, notional amount | 36,321 | 36,321 | ||
Interest rate swaps, net carrying value | [1] | $ (449) | $ (2,830) | |
[1] | Derivatives in a net positive position are recorded as "Other assets" and derivatives in a net negative position are recorded as "Other liabilities" in the Consolidated Statements of Financial Condition. |
Note 11 - Derivative Financia_5
Note 11 - Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Income (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net gain (loss) | [1] | $ 515 | $ (407) | $ 2,907 | $ (913) |
Not Designated as Hedging Instrument [Member] | |||||
Net gain (loss) | 668 | (56) | 2,382 | (316) | |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||||
Net gain (loss) | $ (153) | $ (351) | $ 525 | $ (597) | |
[1] | Net gains and losses are recorded as part of "Net gain/loss from fair value adjustments" in the Consolidated Statements of Income. |
Note 11 - Derivative Financia_6
Note 11 - Derivative Financial Instruments - Effect of Master Netting Arrangements on Derivative Assets and Liabilities in the Consolidated Statements of Condition (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Interest Rate Swaps, Gross Amount of Recognized Assets | $ 32,600 | $ 7,388 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition | ||
Interest Rate Swaps, Net Amount of Assets Presented in the Statement of Condition | 32,600 | 7,388 |
Interest Rate Swaps, Financial Instruments | ||
Interest Rate Swaps, Cash Collateral Received | 32,990 | 3,660 |
Interest Rate Swaps, Net Amount | (390) | 3,728 |
Interest Rate Swaps, Gross Amount of Recognized Liabilities | 449 | 3,758 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition | ||
Interest Rate Swaps, Net Amount of Liabilities Presented in the Statement of Condition | 449 | 3,758 |
Interest Rate Swaps, Financial Instruments | ||
Interest Rate Swaps, Cash Collateral Received | ||
Interest Rate Swaps, Net Amount | $ 449 | 3,758 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition |
Note 12 - Income Taxes - Income
Note 12 - Income Taxes - Income Tax Provisions (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Federal: | ||||
Federal tax provision, current | $ 2,899 | $ 6,703 | $ 9,064 | $ 16,308 |
Federal tax provision, deferred | (592) | (2,023) | (839) | (1,303) |
Total federal tax provision | 2,307 | 4,680 | 8,225 | 15,005 |
State and Local: | ||||
State and local tax provision, current | 33 | 1,398 | 1,722 | 2,817 |
State and local tax provision, deferred | (430) | (787) | (598) | (502) |
Total state and local tax provision (benefit) | (397) | 611 | 1,124 | 2,315 |
Total income tax provision | $ 1,910 | $ 5,291 | $ 9,349 | $ 17,320 |
Note 13 - Accumulated Other C_3
Note 13 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Balance | $ 532,608 | $ 513,853 | ||
Total other comprehensive income (loss), net of tax | $ (1,542) | $ (88) | (3,269) | 1,698 |
Balance | 541,756 | 539,609 | 541,756 | 539,609 |
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | 2,073 | |||
Impact of adoption of Accounting Standard Update 2016-01 | ||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Balance | (16,501) | (2,110) | (5,522) | (3,859) |
Other comprehensive income before reclassifications, net of tax | (3,505) | (333) | (13,159) | 1,416 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 108 | 108 | ||
Total other comprehensive income (loss), net of tax | (3,505) | (225) | (13,159) | 1,524 |
Balance | (20,006) | (2,335) | (20,006) | (2,335) |
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | (1,325) | |||
Impact of adoption of Accounting Standard Update 2016-01 | ||||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Balance | 8,027 | (124) | 231 | |
Other comprehensive income before reclassifications, net of tax | 1,950 | 56 | 9,455 | (68) |
Amounts reclassified from accumulated other comprehensive income, net of tax | (80) | 161 | ||
Total other comprehensive income (loss), net of tax | 1,870 | 56 | 9,616 | (68) |
Balance | 9,897 | (68) | 9,897 | (68) |
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | 50 | |||
Impact of adoption of Accounting Standard Update 2016-01 | ||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance | (4,325) | (4,342) | (3,695) | (4,503) |
Other comprehensive income before reclassifications, net of tax | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | 84 | 81 | 252 | 242 |
Total other comprehensive income (loss), net of tax | 84 | 81 | 252 | 242 |
Balance | (4,241) | (4,261) | (4,241) | (4,261) |
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | (798) | |||
Impact of adoption of Accounting Standard Update 2016-01 | ||||
Accumulated Gain (Loss), Financial Liability, Fair Value Option, Attributable to Parent [Member] | ||||
Balance | 792 | |||
Other comprehensive income before reclassifications, net of tax | 9 | 22 | ||
Amounts reclassified from accumulated other comprehensive income, net of tax | ||||
Total other comprehensive income (loss), net of tax | 9 | 22 | ||
Balance | 801 | 801 | ||
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | ||||
Impact of adoption of Accounting Standard Update 2016-01 | 779 | |||
AOCI Attributable to Parent [Member] | ||||
Balance | (12,007) | (6,576) | (8,986) | (8,362) |
Other comprehensive income before reclassifications, net of tax | (1,546) | (277) | (3,682) | 1,348 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 4 | 189 | 413 | 350 |
Total other comprehensive income (loss), net of tax | (1,542) | (88) | (3,269) | 1,698 |
Balance | $ (13,549) | $ (6,664) | (13,549) | $ (6,664) |
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings | (2,073) | |||
Impact of adoption of Accounting Standard Update 2016-01 | $ 779 |
Note 13 - Accumulated Other C_4
Note 13 - Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Other expense | $ 3,718 | $ 3,249 | $ 12,158 | $ 11,407 | |
Tax expense | (1,910) | (5,291) | (9,349) | (17,320) | |
Net of tax | 17,333 | 10,179 | 42,668 | 35,164 | |
Other expense | (3,718) | (3,249) | (12,158) | (11,407) | |
Total before tax | 19,243 | 15,470 | 52,017 | 52,484 | |
Total income tax provision | 1,910 | 5,291 | 9,349 | 17,320 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Tax expense | (38) | 59 | (116) | 178 | |
Net of tax | (84) | (81) | (252) | (242) | |
Total before tax | (122) | (368) | |||
Total income tax provision | 38 | (59) | 116 | (178) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest Rate Swap [Member] | |||||
Net of tax | 80 | (161) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||
Tax expense | 78 | 78 | |||
Net of tax | (108) | (108) | |||
Total income tax provision | (78) | (78) | |||
Net loss on sale of securities | (186) | (186) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member] | |||||
Other expense | 116 | (235) | |||
Tax expense | (36) | (74) | |||
Other expense | (116) | 235 | |||
Total income tax provision | 36 | 74 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||
Other expense | [1] | 132 | 152 | 396 | 454 |
Other expense | [1] | (132) | (152) | (396) | (454) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | |||||
Other expense | [1] | 10 | (12) | 28 | (34) |
Other expense | [1] | $ (10) | 12 | $ (28) | 34 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Total before tax | $ (140) | $ (420) | |||
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (See Note 9 of the Notes to Consolidated Financial Statements "Pension and Other Postretirement Benefit Plans".) |
Note 14 - Regulatory Capital (D
Note 14 - Regulatory Capital (Details Textual) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2019 | |
Capital Conservation Buffer Required for Capital Adequacy | 1.875% | |
Capital Conservation Buffer Required for Capital Adequacy Annual Increase | 0.625% | |
Savings Bank [Member] | ||
Capital Conservation Buffer | 5.88% | |
Holding Company [Member] | ||
Capital Conservation Buffer | 5.82% | |
Scenario, Forecast [Member] | ||
Capital Conservation Buffer Required for Capital Adequacy | 2.50% |
Note 14 - Regulatory Capital -
Note 14 - Regulatory Capital - Summary of the Bank's Compliance (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Holding Company [Member] | ||
Tier i (leverage) capital, capital level, amount | $ 655,965 | $ 631,285 |
Tier i (leverage) capital, capital level, percent | 10.12% | 10.11% |
Tier i (leverage) capital, requirement to be well capitalized, amount | $ 324,032 | $ 312,343 |
Tier i (leverage) capital, requirement to be well capitalized, percent | 5.00% | 5.00% |
Tier i (leverage) capital, excess, amount | $ 331,933 | $ 318,942 |
Tier i (leverage) capital, excess, percent | 5.12% | 5.11% |
Common equity tier i risk-based capital, capital level, amount | $ 655,965 | $ 631,285 |
Common equity tier i risk-based capital, capital level, percent | 13.46% | 13.87% |
Common equity tier i risk-based capital, requirement to be well capitalized, amount | $ 316,766 | $ 295,937 |
Common equity tier i risk-based capital, requirement to be well capitalized, percent | 6.50% | 6.50% |
Common equity tier i risk-based capital, excess, amount | $ 339,199 | $ 335,348 |
Common equity tier i risk-based capital, excess, percent | 6.96% | 7.37% |
Tier 1 risk-based capital, capital level, amount | $ 655,965 | $ 631,285 |
Tier 1 risk-based capital, capital level, percent | 13.46% | 13.87% |
Tier 1 risk-based capital, requirement to be well capitalized, amount | $ 389,865 | $ 364,230 |
Tier 1 risk-based capital, requirement to be well capitalized, percent | 8.00% | 8.00% |
Tier 1 risk-based capital, excess, amount | $ 266,100 | $ 267,055 |
Tier 1 risk-based capital, excess, percent | 5.46% | 5.87% |
Total risk-based capital, capital level, amount | $ 676,274 | $ 651,636 |
Total risk-based capital, capital level, percent | 13.88% | 14.31% |
Total risk-based capital, requirement to be well capitalized, amount | $ 487,332 | $ 455,288 |
Total risk-based capital, requirement to be well capitalized, percent | 10.00% | 10.00% |
Total risk-based capital, excess, amount | $ 188,942 | $ 196,348 |
Total risk-based capital, excess, percent | 3.88% | 4.31% |
Savings Bank [Member] | ||
Tier i (leverage) capital, capital level, amount | $ 578,034 | $ 563,426 |
Tier i (leverage) capital, capital level, percent | 8.92% | 9.02% |
Tier i (leverage) capital, requirement to be well capitalized, amount | $ 324,008 | $ 312,278 |
Tier i (leverage) capital, requirement to be well capitalized, percent | 5.00% | 5.00% |
Tier i (leverage) capital, excess, amount | $ 254,026 | $ 251,148 |
Tier i (leverage) capital, excess, percent | 3.92% | 4.02% |
Common equity tier i risk-based capital, capital level, amount | $ 539,306 | $ 527,727 |
Common equity tier i risk-based capital, capital level, percent | 11.07% | 11.59% |
Common equity tier i risk-based capital, requirement to be well capitalized, amount | $ 316,714 | $ 295,865 |
Common equity tier i risk-based capital, requirement to be well capitalized, percent | 6.50% | 6.50% |
Common equity tier i risk-based capital, excess, amount | $ 222,592 | $ 231,862 |
Common equity tier i risk-based capital, excess, percent | 4.57% | 5.09% |
Tier 1 risk-based capital, capital level, amount | $ 578,034 | $ 563,426 |
Tier 1 risk-based capital, capital level, percent | 11.86% | 12.38% |
Tier 1 risk-based capital, requirement to be well capitalized, amount | $ 389,801 | $ 364,141 |
Tier 1 risk-based capital, requirement to be well capitalized, percent | 8.00% | 8.00% |
Tier 1 risk-based capital, excess, amount | $ 188,233 | $ 199,285 |
Tier 1 risk-based capital, excess, percent | 3.86% | 4.38% |
Total risk-based capital, capital level, amount | $ 673,343 | $ 658,777 |
Total risk-based capital, capital level, percent | 13.82% | 14.47% |
Total risk-based capital, requirement to be well capitalized, amount | $ 487,252 | $ 455,177 |
Total risk-based capital, requirement to be well capitalized, percent | 10.00% | 10.00% |
Total risk-based capital, excess, amount | $ 186,091 | $ 203,600 |
Total risk-based capital, excess, percent | 3.82% | 4.47% |
Note 15 - New Authoritative A_2
Note 15 - New Authoritative Accounting Pronouncements (Details Textual) - USD ($) $ in Millions | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||
Stranded Tax Effects from Accounting Standards Update, Balance Sheet Impact | $ 2.1 | |||
Accounting Standards Update 2016-01 [Member] | ||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | $ (0.8) | |||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |