Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 31, 2019 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000923139 | |
Entity Registrant Name | Flushing Financial Corporation | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2019 | |
Entity File Number | 001-33013 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 11-3209278 | |
Entity Address, Address Line One | 220 RXR Plaza | |
Entity Address, City or Town | Uniondale | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 11556 | |
City Area Code | (718) | |
Local Phone Number | 961-5400 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | FFIC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 28,157,206 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 86,989 | $ 118,561 |
Securities held-to-maturity: | ||
Held to maturity securities | 60,040 | 32,018 |
Securities available for sale, at fair value: | ||
Securities available for sale | 825,475 | 822,655 |
Loans: | ||
Net unamortized premiums and unearned loan fees | 15,363 | 15,188 |
Allowance for loan losses | (22,035) | (20,945) |
Net loans | 5,743,728 | 5,530,539 |
Interest and dividends receivable | 26,566 | 25,485 |
Bank premises and equipment, net | 28,146 | 30,418 |
Federal Home Loan Bank of New York stock, at cost | 65,280 | 57,282 |
Bank owned life insurance | 158,604 | 131,788 |
Goodwill | 16,127 | 16,127 |
Other real estate owned, net | 239 | 0 |
Right of Use Asset | 42,400 | 0 |
Other assets | 57,301 | 69,303 |
Total assets | 7,110,895 | 6,834,176 |
Liabilities | ||
Non-interest bearing | 421,786 | 413,747 |
Interest-bearing | 4,490,723 | 4,502,176 |
Total Deposits | 4,912,509 | 4,915,923 |
Mortgagors' escrow deposits | 61,803 | 44,861 |
Borrowed funds: | ||
Federal Home Loan Bank advances | 1,304,296 | 1,134,993 |
Subordinated debentures | 74,234 | 74,001 |
Junior subordinated debentures, at fair value | 43,910 | 41,849 |
Total borrowed funds | 1,422,440 | 1,250,843 |
Operating lease liability | 50,626 | 0 |
Other liabilities | 95,125 | 73,085 |
Total liabilities | 6,542,503 | 6,284,712 |
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, 2019 and December 31, 2018; 28,157,206 shares and 27,983,637 shares outstanding at September 30, 2019 and December 31, 2018, respectively) | 315 | 315 |
Additional paid-in capital | 225,471 | 222,720 |
Treasury stock, at average cost (3,373,389 shares and 3,546,958 shares at September 30, 2019 and December 31, 2018, respectively) | (71,487) | (75,146) |
Retained earnings | 427,062 | 414,327 |
Accumulated other comprehensive loss, net of taxes | (12,969) | (12,752) |
Total stockholders' equity | 568,392 | 549,464 |
Total liabilities and stockholders' equity | 7,110,895 | 6,834,176 |
Multi-Family Residential [Member] | ||
Loans: | ||
Loans receivable | 2,232,305 | 2,269,048 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 1,559,581 | 1,542,547 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 587,100 | 577,741 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 184,432 | 190,350 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 9,089 | 8,498 |
Construction Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 64,234 | 50,600 |
Small Business Administration Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 13,982 | 15,210 |
Taxi Medallion Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 3,513 | 4,539 |
Commercial Business and Other Portfolio Segment [Member] | ||
Loans: | ||
Loans receivable | 1,096,164 | 877,763 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity: | ||
Held to maturity securities | 7,939 | 7,953 |
Securities available for sale, at fair value: | ||
Securities available for sale | 579,010 | 557,953 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity: | ||
Held to maturity securities | 52,101 | 24,065 |
Securities available for sale, at fair value: | ||
Securities available for sale | $ 246,465 | $ 264,702 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities held-to-maturity, fair value | $ 63,870 | $ 29,874 |
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) | 28,157,206 | 27,983,637 |
Treasury stock, at average cost (in shares) | 3,373,389 | 3,546,958 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, assets pledged | $ 5,450 | $ 4,796 |
Securities held-to-maturity, fair value | 8,372 | 7,366 |
Securities available for sale, pledged as collateral | 185,299 | 152,670 |
Securities available for sale, fair value option | 812 | 967 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, assets pledged | 0 | 0 |
Securities held-to-maturity, fair value | 55,498 | 22,508 |
Securities available for sale, pledged as collateral | 0 | 28,871 |
Securities available for sale, fair value option | $ 13,524 | $ 12,843 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Interest and dividend income | |||||
Interest and fees on loans | $ 62,825 | $ 59,658 | $ 187,428 | $ 171,997 | |
Interest and dividends on securities: | |||||
Interest | 6,287 | 5,562 | 20,007 | 16,646 | |
Dividends | 18 | 18 | 56 | 49 | |
Other interest income | 259 | 248 | 1,286 | 873 | |
Total interest and dividend income | 69,389 | 65,486 | 208,777 | 189,565 | |
Interest expense | |||||
Deposits | 22,244 | 17,425 | 66,540 | 44,323 | |
Other interest expense | 8,196 | 6,540 | 21,476 | 18,472 | |
Total interest expense | 30,440 | 23,965 | 88,016 | 62,795 | |
Net interest income | 38,949 | 41,521 | 120,761 | 126,770 | |
Provision for loan losses | 683 | 0 | 3,129 | 153 | |
Net interest income after provision for loan losses | 38,266 | 41,521 | 117,632 | 126,617 | |
Non-interest income | |||||
Banking services fee income | 847 | 1,017 | 2,879 | 2,965 | |
Net loss on sale of securities | 0 | 0 | (15) | 0 | |
Net gain on sale of loans | 204 | 10 | 381 | 168 | |
Net gain on sale of assets | 0 | 0 | 770 | 0 | |
Net loss from fair value adjustments | (2,124) | (170) | (6,160) | (537) | |
Federal Home Loan Bank of New York stock dividends | 834 | 873 | 2,563 | 2,630 | |
Life insurance proceeds | 0 | 2,222 | 43 | 2,998 | |
Bank owned life insurance | 1,000 | 782 | 2,550 | 2,320 | |
Other income | 278 | 221 | 1,422 | 779 | |
Total non-interest income | 1,039 | 4,955 | 4,433 | 11,323 | |
Non-interest expense | |||||
Salaries and employee benefits | 15,461 | 15,720 | 50,295 | 49,466 | |
Occupancy and equipment | 2,847 | 2,475 | 8,378 | 7,528 | |
Professional services | 2,167 | 1,915 | 6,238 | 6,539 | |
FDIC deposit insurance | (589) | 596 | 563 | 1,643 | |
Data processing | 1,490 | 1,427 | 4,402 | 4,254 | |
Depreciation and amortization | 1,439 | 1,484 | 4,454 | 4,328 | |
Other real estate owned/foreclosure expense (benefit) | 48 | (102) | 145 | 34 | |
Net gain from sales of real estate owned | 0 | 0 | 0 | (27) | |
Other operating expenses | 3,182 | 3,718 | 11,147 | 12,158 | |
Total non-interest expense | 26,045 | 27,233 | 85,622 | 85,923 | |
Income before income taxes | 13,260 | 19,243 | 36,443 | 52,017 | |
Provision for income taxes | |||||
Federal | 2,457 | 2,307 | 7,381 | 8,225 | |
State and local | 79 | (397) | 714 | 1,124 | |
Total taxes | 2,536 | 1,910 | 8,095 | 9,349 | |
Net income | $ 10,724 | $ 17,333 | $ 28,348 | $ 42,668 | |
Basic earnings per common share (in dollars per share) | $ 0.37 | $ 0.61 | $ 0.99 | $ 1.48 | |
Diluted earnings per common share (in dollars per share) | [1] | 0.37 | 0.61 | 0.99 | 1.48 |
Dividends per common share (in dollars per share) | $ 0.21 | $ 0.20 | $ 0.63 | $ 0.60 | |
[1] | For the three and nine months ended September 30, 2019 and 2018, 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 10,724 | $ 17,333 | $ 28,348 | $ 42,668 |
Other comprehensive income (loss), net of tax: | ||||
Amortization of actuarial losses, net of taxes of ($11) and ($41) for the three months ended September 30, 2019 and 2018, respectively and of ($30) and ($124) for the nine months ended September 30, 2019 and 2018, respectively. | 22 | 91 | 66 | 272 |
Amortization of prior service credits, net of taxes of $7 and $3 for the three months ended September 30, 2019 and 2018, respectively and of $20 and $8 for the nine months ended September 30, 2019 and 2018, respectively. | (15) | (7) | (44) | (20) |
Net unrealized (losses) gains on securities, net of taxes of $218 and $1,612 for the three months ended September 30, 2019 and 2018, respectively and of ($5,102) and $6,055 for the nine months ended September 30, 2019 and 2018, respectively. | (475) | (3,505) | 11,349 | (13,159) |
Reclassification adjustment for net losses included in income, net of taxes of ($5) for the nine months ended September 30, 2019. | 0 | 0 | 10 | 0 |
Net unrealized (losses) gains on cash flow hedges, net of taxes of $874 and ($860) for the three months ended September 30, 2019 and 2018, respectively and of $5,293 and ($4,425) for the nine months ended September 30, 2019 and 2018, respectively. | (1,946) | 1,870 | (11,782) | 9,616 |
Change in fair value of liabilities related to instrument-specific credit risk, net of taxes of ($27) and ($4) for the three months ended September 30, 2019 and 2018, respectively and of ($81) and ($10) for the nine months ended September 30, 2019 and 2018, respectively. | 61 | 9 | 184 | 22 |
Total other comprehensive loss, net of tax | (2,353) | (1,542) | (217) | (3,269) |
Comprehensive income | $ 8,371 | $ 15,791 | $ 28,131 | $ 39,399 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Amortization of net actuarial losses, tax | $ (11) | $ (41) | $ (30) | $ (124) |
Amortization of prior service credits, tax | 7 | 3 | 20 | 8 |
Reclassification adjustment for net gains included in net income, tax | (5) | |||
Net unrealized loss on cash flow hedge, tax | 874 | (860) | 5,293 | (4,425) |
Change in fair value of liabilities, related to instrument-specific credit risk, tax | $ (27) | $ (4) | $ (81) | $ (10) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 28,348 | $ 42,668 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 3,129 | 153 |
Depreciation and amortization of bank premises and equipment | 4,454 | 4,328 |
Amortization of premium, net of accretion of discount | 4,932 | 6,462 |
Net loss from fair value adjustments | 6,160 | 537 |
Net loss from fair value adjustments on qualifying hedges | 2,717 | 0 |
Net gain from sale of loans | (381) | (168) |
Net loss from sale of securities | 15 | 0 |
Net gain from sale of asset | (770) | 0 |
Net gain from sale of OREO | 0 | (27) |
Income from bank owned life insurance | (2,550) | (2,320) |
Life insurance proceeds | (43) | (2,998) |
Stock-based compensation expense | 6,617 | 5,973 |
Deferred compensation | (2,526) | (2,450) |
Deferred income tax benefit | (3,777) | (1,437) |
Increase in other liabilities | 4,358 | 6,580 |
Decrease in other assets | 1,659 | 2,103 |
Net cash provided by operating activities | 52,342 | 59,404 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of bank premises and equipment | (2,182) | (3,421) |
Net (purchases) redemptions of Federal Home Loan Bank of New York shares | (7,998) | 5,147 |
Purchases of securities held-to-maturity | (30,030) | (653) |
Proceeds from maturities and calls of securities held-to-maturity | 1,568 | 364 |
Proceeds from prepayments of securities held-to-maturity | 434 | 0 |
Purchases of securities available for sale | (141,798) | (102,756) |
Proceeds from sales and calls of securities available for sale | 65,493 | 10,000 |
Proceeds from maturities and prepayments of securities available for sale | 88,217 | 57,839 |
Proceeds from sale of assets | 813 | 0 |
Proceeds from bank owned life insurance | 777 | 6,165 |
Purchase of bank owned life insurance | (25,000) | 0 |
Net (originations) repayments of loans | (9,660) | 3,605 |
Purchases of loans | (193,703) | (235,193) |
Proceeds from sale of real estate owned | 0 | 665 |
Proceeds from sale of loans | 7,187 | 14,410 |
Net cash used in investing activities | (245,882) | (243,828) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in non-interest bearing deposits | 8,039 | 13,337 |
Net (decrease) increase in interest-bearing deposits | (11,643) | 303,288 |
Net increase in mortgagors' escrow deposits | 16,942 | 16,061 |
Net proceeds from short-term borrowed funds | 115,750 | 115,250 |
Proceeds from long-term borrowings | 184,950 | 25,000 |
Repayment of long-term borrowings | (131,301) | (256,088) |
Purchases of treasury stock | (2,656) | (21,638) |
Proceeds from issuance of common stock upon exercise of stock options | 3 | 6 |
Cash dividends paid | (18,116) | (17,244) |
Net cash provided by financing activities | 161,968 | 177,972 |
Net decrease in cash and cash equivalents | (31,572) | (6,452) |
Cash and cash equivalents, beginning of period | 118,561 | 51,546 |
Cash and cash equivalents, end of period | 86,989 | 45,094 |
SUPPLEMENTAL CASH FLOW DISCLOSURE | ||
Interest paid | 85,346 | 57,811 |
Income taxes paid | 8,531 | 5,116 |
Taxes paid if excess tax benefits were not tax deductible | 8,523 | 5,753 |
Non-cash activities: | ||
Loans transferred to Other Real Estate Owned or Other Assets | 239 | 673 |
Securities purchased but not yet settled | 0 | 10,000 |
Retained Earnings [Member] | ||
Non-cash activities: | ||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | $ 0 | $ 2,073 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2017 | $ 315 | $ 217,906 | $ 381,048 | $ (57,675) | $ (8,986) | $ 532,608 |
Net income | 0 | 0 | 11,412 | 0 | 0 | 11,412 |
Award of common shares released from Employee Benefit Trust | 0 | 2,488 | 0 | 0 | 0 | 2,488 |
Vesting of restricted stock unit awards | 0 | (4,731) | (170) | 4,901 | 0 | 0 |
Stock-based compensation expense | 0 | 3,452 | 0 | 0 | 0 | 3,452 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | (2,050) | 0 | (2,050) |
Dividends on common stock | 0 | 0 | (5,795) | 0 | 0 | (5,795) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (895) | (895) |
Purchase of treasury shares | 0 | 0 | 0 | (5,913) | 0 | (5,913) |
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 0 | 0 | 2,073 | 0 | (2,073) | 0 |
Impact of adoption of Accounting Standard Update 2016-01 | 0 | 0 | (775) | 0 | 775 | 0 |
Balance at Mar. 31, 2018 | 315 | 219,115 | 387,793 | (60,737) | (11,179) | 535,307 |
Balance at Dec. 31, 2017 | 315 | 217,906 | 381,048 | (57,675) | (8,986) | 532,608 |
Net income | 42,668 | |||||
Other comprehensive income (loss) | (3,269) | (3,269) | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 2,073 | (2,073) | ||||
Impact of adoption of Accounting Standard Update 2016-01 | 779 | |||||
Balance at Sep. 30, 2018 | 315 | 221,622 | 407,590 | (74,222) | (13,549) | 541,756 |
Balance at Mar. 31, 2018 | 315 | 219,115 | 387,793 | (60,737) | (11,179) | 535,307 |
Net income | 0 | 0 | 13,923 | 0 | 0 | 13,923 |
Award of common shares released from Employee Benefit Trust | 0 | 90 | 0 | 0 | 0 | 90 |
Exercise of stock options | 0 | (1) | 0 | 7 | 0 | 6 |
Stock-based compensation expense | 0 | 1,228 | 0 | 0 | 0 | 1,228 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | (1) | 0 | (1) |
Dividends on common stock | 0 | 0 | (5,752) | 0 | 0 | (5,752) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (832) | (832) |
Purchase of treasury shares | 0 | 0 | 0 | (5,925) | 0 | (5,925) |
Impact of adoption of Accounting Standard Update 2016-01 | 0 | 0 | (4) | 0 | 4 | 0 |
Balance at Jun. 30, 2018 | 315 | 220,432 | 395,960 | (66,656) | (12,007) | 538,044 |
Net income | 0 | 0 | 17,333 | 0 | 0 | 17,333 |
Award of common shares released from Employee Benefit Trust | 0 | 74 | 0 | 0 | 0 | 74 |
Vesting of restricted stock unit awards | 0 | (177) | (6) | 183 | 0 | 0 |
Stock-based compensation expense | 0 | 1,293 | 0 | 0 | 0 | 1,293 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | (87) | 0 | (87) |
Dividends on common stock | 0 | 0 | (5,697) | 0 | 0 | (5,697) |
Other comprehensive income (loss) | 0 | 0 | 0 | (1,542) | (1,542) | |
Purchase of treasury shares | 0 | 0 | 0 | (7,662) | 0 | (7,662) |
Balance at Sep. 30, 2018 | 315 | 221,622 | 407,590 | (74,222) | (13,549) | 541,756 |
Balance at Dec. 31, 2018 | 315 | 222,720 | 414,327 | (75,146) | (12,752) | 549,464 |
Impact of adoption of ASC 842 - Leases | Accounting Standards Update 2016-02 [Member] | 0 | 0 | 2,716 | 0 | 0 | 2,716 |
Net income | 0 | 0 | 7,068 | 0 | 0 | 7,068 |
Award of common shares released from Employee Benefit Trust | 0 | 2,086 | 0 | 0 | 0 | 2,086 |
Vesting of restricted stock unit awards | 0 | (5,878) | (210) | 6,088 | 0 | 0 |
Exercise of stock options | 0 | 0 | (3) | 6 | 0 | 3 |
Stock-based compensation expense | 0 | 3,931 | 0 | 0 | 0 | 3,931 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | (1,877) | 0 | (1,877) |
Dividends on common stock | 0 | 0 | (6,042) | 0 | 0 | (6,042) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 2,210 | 2,210 |
Balance at Mar. 31, 2019 | 315 | 222,859 | 417,856 | (70,929) | (10,542) | 559,559 |
Balance at Dec. 31, 2018 | 315 | 222,720 | 414,327 | (75,146) | (12,752) | 549,464 |
Net income | 28,348 | |||||
Other comprehensive income (loss) | (217) | (217) | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 0 | |||||
Balance at Sep. 30, 2019 | 315 | 225,471 | 427,062 | (71,487) | (12,969) | 568,392 |
Balance at Mar. 31, 2019 | 315 | 222,859 | 417,856 | (70,929) | (10,542) | 559,559 |
Net income | 0 | 0 | 10,556 | 0 | 0 | 10,556 |
Award of common shares released from Employee Benefit Trust | 0 | 81 | 0 | 0 | 0 | 81 |
Vesting of restricted stock unit awards | 0 | (24) | 0 | 24 | 0 | 0 |
Stock-based compensation expense | 0 | 1,315 | 0 | 0 | 0 | 1,315 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | (8) | 0 | (8) |
Dividends on common stock | 0 | 0 | (6,039) | 0 | 0 | (6,039) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (74) | (74) |
Balance at Jun. 30, 2019 | 315 | 224,231 | 422,373 | (70,913) | (10,616) | 565,390 |
Net income | 0 | 0 | 10,724 | 0 | 0 | 10,724 |
Award of common shares released from Employee Benefit Trust | 0 | 66 | 0 | 0 | 0 | 66 |
Vesting of restricted stock unit awards | 0 | (197) | 0 | 197 | 0 | 0 |
Stock-based compensation expense | 0 | 1,371 | 0 | 0 | 0 | 1,371 |
Repurchase of shares to satisfy tax obligation | 0 | 0 | 0 | 0 | 0 | 0 |
Dividends on common stock | 0 | 0 | (6,035) | 0 | 0 | (6,035) |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (2,353) | (2,353) |
Purchase of treasury shares | 0 | 0 | 0 | (771) | 0 | (771) |
Balance at Sep. 30, 2019 | $ 315 | $ 225,471 | $ 427,062 | $ (71,487) | $ (12,969) | $ 568,392 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | |
Common Stock [Member] | ||||||
Common shares released from Employee Benefit Trust (in shares) | 5,015 | 5,568 | 138,775 | 3,899 | 4,455 | 116,229 |
Restricted stock unit awards vested, shares (in shares) | 9,284 | 1,120 | 287,155 | 8,720 | 248,877 | |
Exercise of stock options, shares (in shares) | 300 | 600 | ||||
Restricted stock unit awards vested, shares (in shares) | 9,284 | 1,120 | 287,155 | 8,720 | 248,877 | |
Treasury Stock [Member] | ||||||
Repurchase of shares to satisfy tax obligation, shares (in shares) | 0 | 382 | 83,908 | 3,343 | 32 | 72,837 |
Purchase of treasury shares (in shares) | 227,581 | 217,863 | ||||
Retained Earnings [Member] | ||||||
Dividends on common stock (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.20 | $ 0.20 |
Purchase of treasury shares (in shares) | 40,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 1. 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, 2018. 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, 2019 | |
Notes to Financial Statements | |
Use of Estimates [Text Block] | 2. 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, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings per common share have been computed based on the following: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 10,724 $ 17,333 $ 28,348 $ 42,668 Divided by: Weighted average common shares outstanding 28,730 28,604 28,704 28,806 Weighted average common stock equivalents - - - 1 Total weighted average common shares outstanding and common stock equivalents 28,730 28,604 28,704 28,807 Basic earnings per common share $ 0.37 $ 0.61 $ 0.99 $ 1.48 Diluted earnings per common share (1) $ 0.37 $ 0.61 $ 0.99 $ 1.48 Dividend payout ratio 56.8 % 32.8 % 63.6 % 40.5 % 1. For the three nine September 30, 2019 2018, no |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. The Company did not September 30, 2019 December 31, 2018. The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2019: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Securities held-to-maturity: Municipals $ 52,101 $ 55,498 $ 3,397 $ - Total other securities 52,101 55,498 3,397 - FNMA 7,939 8,372 433 - Total mortgage-backed securities 7,939 8,372 433 - Total $ 60,040 $ 63,870 $ 3,830 $ - The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2018: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Securities held-to-maturity: Municipals $ 24,065 $ 22,508 $ - $ 1,557 Total other securities 24,065 22,508 - 1,557 FNMA 7,953 7,366 - 587 Total mortgage-backed securities 7,953 7,366 - 587 Total $ 32,018 $ 29,874 $ - $ 2,144 The following table summarizes the Company’s portfolio of securities available for sale at September 30, 2019: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Corporate $ 130,000 $ 120,543 $ - $ 9,457 Municipals 12,849 13,017 168 - Mutual funds 12,206 12,206 - - Collateralized loan obligations 100,336 99,381 5 960 Other 1,318 1,318 - - Total other securities 256,709 246,465 173 10,417 REMIC and CMO 390,044 392,525 3,604 1,123 GNMA 706 764 58 - FNMA 106,773 107,383 998 388 FHLMC 77,455 78,338 998 115 Total mortgage-backed securities 574,978 579,010 5,658 1,626 Total securities available for sale $ 831,687 $ 825,475 $ 5,831 $ 12,043 The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2018: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Corporate $ 130,000 $ 118,535 $ - $ 11,465 Municipals 46,231 46,574 343 - Mutual funds 11,586 11,586 - - Collateralized loan obligations 88,396 86,751 - 1,645 Other 1,256 1,256 - - Total other securities 277,469 264,702 343 13,110 REMIC and CMO 382,632 376,340 885 7,177 GNMA 785 826 41 - FNMA 94,069 91,693 72 2,448 FHLMC 90,377 89,094 113 1,396 Total mortgage-backed securities 567,863 557,953 1,111 11,021 Total securities available for sale $ 845,332 $ 822,655 $ 1,454 $ 24,131 We did not September 30, 2019 December 31, 2018. The corporate securities held by the Company at September 30, 2019 December 31, 2018 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, 2019, may may Amortized Securities held-to-maturity: Cost Fair Value (In thousands) Due in one year or less $ 1,180 $ 1,180 Due after ten years 50,921 54,318 Total other securities 52,101 55,498 Mortgage-backed securities 7,939 8,372 Total $ 60,040 $ 63,870 Amortized Securities available for sale: Cost Fair Value (In thousands) Due after one year through five years $ 10,000 $ 9,762 Due after five years through ten years 137,913 128,645 Due after ten years 96,590 95,852 Total other securities 244,503 234,259 Mutual funds 12,206 12,206 Mortgage-backed securities 574,978 579,010 Total $ 831,687 $ 825,475 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, 2019 Total Less than 12 months 12 months or more Unrealized Unrealized Unrealized Count Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for sale securities Corporate 16 $ 120,543 $ 9,457 $ 9,663 $ 338 $ 110,880 $ 9,119 CLO 12 91,916 960 63,821 485 28,095 475 Total other securities 28 212,459 10,417 73,484 823 138,975 9,594 REMIC and CMO 25 157,584 1,123 138,250 887 19,334 236 FNMA 7 69,075 388 14,888 30 54,187 358 FHLMC 1 34,816 115 - - 34,816 115 Total mortgage-backed securities 33 261,475 1,626 153,138 917 108,337 709 Total 61 $ 473,934 $ 12,043 $ 226,622 $ 1,740 $ 247,312 $ 10,303 There were no September 30, 2019. At December 31, 2018 Total Less than 12 months 12 months or more Unrealized Unrealized Unrealized Count Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 19,940 $ 1,557 $ - $ - $ 19,940 $ 1,557 Total other securities 1 19,940 1,557 - - 19,940 1,557 FNMA 1 7,366 587 - - 7,366 587 Total mortgage-backed securities 1 7,366 587 - - 7,366 587 Total securities held-to-maturity 2 $ 27,306 $ 2,144 $ - $ - $ 27,306 $ 2,144 Available for sale securities Corporate 16 $ 118,535 $ 11,465 $ 19,113 $ 888 $ 99,422 $ 10,577 Municipals 3 4,220 - 4,220 - - - CLO 11 86,752 1,645 86,752 1,645 - - Total other securities 30 209,507 13,110 110,085 2,533 99,422 10,577 REMIC and CMO 39 243,756 7,177 17,308 200 226,448 6,977 GNMA 1 51 - 51 - - - FNMA 14 85,046 2,448 6,372 17 78,674 2,431 FHLMC 3 51,288 1,396 10,116 95 41,172 1,301 Total mortgage-backed securities 57 380,141 11,021 33,847 312 346,294 10,709 Total securities available for sale 87 $ 589,648 $ 24,131 $ 143,932 $ 2,845 $ 445,716 $ 21,286 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, 2019 December 31, 2018. December 31, 2018 December 31, 2018 September 30, 2019 December 31, 2018 It is not not not not none not September 30, 2019 December 31, 2018. Realized gains and losses on the sales of securities are determined using the specific identification method. The Company sold $26.4 nine September 30, 2019. not three September 30, 2019 three nine September 30, 2018. 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 September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains from the sale of securities $ - $ - $ 423 $ - Gross losses from the sale of securities - - (438 ) - Net losses from the sale of securities $ - $ - $ (15 ) $ - |
Note 5 - Loans
Note 5 - Loans | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. 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. In the second 2019, two two 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 The Company evaluates the underlying collateral through a third third not The Company may may The Company believes that restructuring these loans in this manner will allow certain borrowers to become and remain current on their loans. All loans classified as TDR are considered impaired, however TDR loans which have been current for six not six not 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, 2019, not The following table shows loan modifications and classified as TDR during the periods indicated. For the three and nine months ended September 30, 2019 September 30, 2018 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Commercial business and other 3 $ 951 Amortization extensions 1 $ 1,620 Amortization extension Total 3 $ 951 1 $ 1,620 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, 2019 December 31, 2018 Number Recorded Number Recorded (Dollars in thousands) of contracts investment of contracts investment Multi-family residential 7 $ 1,883 7 $ 1,916 One-to-four family - mixed-use property 4 1,497 5 1,692 One-to-four family - residential 3 536 3 552 Taxi medallion (1) 8 2,161 15 3,926 Commercial business and other 3 951 1 279 Total performing troubled debt restructured 25 $ 7,028 31 $ 8,365 ( 1 During the three nine September 30, 2019 2018, no 12 three nine September 30, 2019, nine September 30, 2018, The following table shows our recorded investment for loans classified as TDR that are not September 30, 2019 December 31, 2018 Number Recorded Number Recorded (Dollars in thousands) of contracts investment of contracts investment Multi-family residential - $ - 1 $ 388 Taxi medallion 3 767 - - Commercial business and other 2 279 1 1,397 Total troubled debt restructurings that subsequently defaulted 5 $ 1,046 2 $ 1,785 The following table shows our non-performing loans at the periods indicated: September 30, December 31, (In thousands) 2019 2018 Loans ninety days or more past due and still accruing: Multi-family residential $ 445 $ - Total 445 - Non-accrual mortgage loans: Multi-family residential 3,132 2,410 Commercial real estate 872 1,379 One-to-four family - mixed-use property 683 928 One-to-four family - residential 5,050 6,144 Total 9,737 10,861 Non-accrual non-mortgage loans: Small Business Administration 1,151 1,267 Taxi medallion (1) 1,352 613 Commercial business and other (1) 2,020 3,512 Total 4,523 5,392 Total non-accrual loans 14,260 16,253 Total non-performing loans $ 14,705 $ 16,253 1. Not September 30, 2019 December 31, 2018, September 30, 2019. 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 September 30, September 30, 2019 2018 2019 2018 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 416 $ 398 $ 1,224 $ 1,194 Less: Interest income included in the results of operations 89 173 330 487 Total foregone interest $ 327 $ 225 $ 894 $ 707 The following tables show by delinquency an analysis of our recorded investment in loans at the periods indicated: September 30, 2019 Greater 30 - 59 Days 60 - 89 Days than Total Past (In thousands) Past Due Past Due 90 Days Due Current Total Loans Multi-family residential $ 1,112 $ 1,401 $ 3,577 $ 6,090 $ 2,226,215 $ 2,232,305 Commercial real estate 5,944 940 872 7,756 1,551,825 1,559,581 One-to-four family - mixed-use property 1,458 869 408 2,735 584,365 587,100 One-to-four family - residential 1,020 243 5,050 6,313 178,119 184,432 Co-operative apartments - - - - 9,089 9,089 Construction loans - - - - 64,234 64,234 Small Business Administration 1,849 - 1,151 3,000 10,982 13,982 Taxi medallion - - 766 766 2,747 3,513 Commercial business and other 3 100 2,020 2,123 1,094,041 1,096,164 Total $ 11,386 $ 3,553 $ 13,844 $ 28,783 $ 5,721,617 $ 5,750,400 December 31, 2018 Greater 30 - 59 Days 60 - 89 Days than Total Past (In thousands) Past Due Past Due 90 Days Due Current Total Loans Multi-family residential $ 1,887 $ 339 $ 2,410 $ 4,636 $ 2,264,412 $ 2,269,048 Commercial real estate 379 - 1,379 1,758 1,540,789 1,542,547 One-to-four family - mixed-use property 1,003 322 928 2,253 575,488 577,741 One-to-four family - residential 1,564 - 6,144 7,708 182,642 190,350 Co-operative apartments - - - - 8,498 8,498 Construction loans - 730 - 730 49,870 50,600 Small Business Administration 774 68 1,267 2,109 13,101 15,210 Taxi medallion - - - - 4,539 4,539 Commercial business and other 1,306 281 2,216 3,803 873,960 877,763 Total $ 6,913 $ 1,740 $ 14,344 $ 22,997 $ 5,513,299 $ 5,536,296 The following tables show the activity in the allowance for loan losses for the three September 30, 2019 (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 Total Allowance for credit losses: Beginning balance $ 5,506 $ 4,265 $ 1,786 $ 746 $ 381 $ 382 $ - $ 8,444 $ 21,510 Charge-off's (189 ) - - - - - - (242 ) (431 ) Recoveries 6 - 140 3 - 32 - 92 273 Provision (Benefit) 54 99 (120 ) (4 ) 37 (57 ) - 674 683 Ending balance $ 5,377 $ 4,364 $ 1,806 $ 745 $ 418 $ 357 $ - $ 8,968 $ 22,035 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 The following tables show the activity in the allowance for loan losses for the nine September 30, 2019 (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 Total Allowance for credit losses: Beginning balance $ 5,676 $ 4,315 $ 1,867 $ 749 $ 329 $ 418 $ - $ 7,591 $ 20,945 Charge-off's (190 ) - (1 ) (113 ) - - - (2,379 ) (2,683 ) Recoveries 30 7 228 10 - 52 134 183 644 Provision (Benefit) (139 ) 42 (288 ) 99 89 (113 ) (134 ) 3,573 3,129 Ending balance $ 5,377 $ 4,364 $ 1,806 $ 745 $ 418 $ 357 $ - $ 8,968 $ 22,035 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 The following tables show the manner in which loans were evaluated for impairment at the periods indicated: September 30, 2019 (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 Total Financing Receivables: Ending Balance $ 2,232,305 $ 1,559,581 $ 587,100 $ 184,432 $ 9,089 $ 64,234 $ 13,982 $ 3,513 $ 1,096,164 $ 5,750,400 Ending balance: individually evaluated for impairment $ 5,195 $ 949 $ 2,192 $ 5,841 $ - $ - $ 1,151 $ 3,513 $ 2,970 $ 21,811 Ending balance: collectively evaluated for impairment $ 2,227,110 $ 1,558,632 $ 584,908 $ 178,591 $ 9,089 $ 64,234 $ 12,831 $ - $ 1,093,194 $ 5,728,589 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 94 $ - $ 51 $ 48 $ - $ - $ - $ - $ 116 $ 309 Ending balance: collectively evaluated for impairment $ 5,283 $ 4,364 $ 1,755 $ 697 $ - $ 418 $ 357 $ - $ 8,852 $ 21,726 December 31, 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 Total Financing Receivables: Ending Balance $ 2,269,048 $ 1,542,547 $ 577,741 $ 190,350 $ 8,498 $ 50,600 $ 15,210 $ 4,539 $ 877,763 $ 5,536,296 Ending balance: individually evaluated for impairment $ 4,500 $ 1,435 $ 3,098 $ 6,889 $ - $ - $ 1,267 $ 4,539 $ 3,791 $ 25,519 Ending balance: collectively evaluated for impairment $ 2,264,548 $ 1,541,112 $ 574,643 $ 183,461 $ 8,498 $ 50,600 $ 13,943 $ - $ 873,972 $ 5,510,777 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 100 $ - $ 143 $ 51 $ - $ - $ - $ - $ 866 $ 1,160 Ending balance: collectively evaluated for impairment $ 5,576 $ 4,315 $ 1,724 $ 698 $ - $ 329 $ 418 $ - $ 6,725 $ 19,785 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, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,939 $ 4,438 $ - $ 3,225 $ 3,568 $ - Commercial real estate 949 949 - 1,435 1,435 - One-to-four family mixed-use property 1,345 1,347 - 1,913 2,113 - One-to-four family residential 5,454 5,512 - 6,490 6,643 - Non-mortgage loans: Small Business Administration 1,151 1,421 - 1,267 1,609 - Taxi medallion 3,513 9,731 - 4,539 12,788 - Commercial business and other 2,019 4,060 - - - - Total loans with no related allowance recorded 18,370 27,458 - 18,869 28,156 - With an allowance recorded: Mortgage loans: Multi-family residential 1,256 1,256 94 1,275 1,275 100 One-to-four family mixed-use property 847 847 51 1,185 1,185 143 One-to-four family residential 387 387 48 399 399 51 Non-mortgage loans: Commercial business and other 951 951 116 3,791 3,791 866 Total loans with an allowance recorded 3,441 3,441 309 6,650 6,650 1,160 Total Impaired Loans: Total mortgage loans $ 14,177 $ 14,736 $ 193 $ 15,922 $ 16,618 $ 294 Total non-mortgage loans $ 7,634 $ 16,163 $ 116 $ 9,597 $ 18,188 $ 866 The following table shows our average recorded investment and interest income recognized for impaired loans for the three September 30, 2019 September 30, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,398 $ 9 $ 4,013 $ 31 Commercial real estate 1,252 - 4,587 50 One-to-four family mixed-use property 1,889 17 3,452 28 One-to-four family residential 5,607 1 7,742 7 Construction - - 365 - Non-mortgage loans: Small Business Administration 1,188 - 739 31 Taxi medallion 3,534 32 6,152 84 Commercial business and other 1,912 - 20,301 482 Total loans with no related allowance recorded 18,780 59 47,351 713 With an allowance recorded: Mortgage loans: Multi-family residential 1,260 18 1,740 19 One-to-four family mixed-use property 922 8 1,201 15 One-to-four family residential 389 4 405 4 Non-mortgage loans: Commercial business and other 803 - 297 4 Total loans with an allowance recorded 3,374 30 3,643 42 Total Impaired Loans: Total mortgage loans $ 14,717 $ 57 $ 23,505 $ 154 Total non-mortgage loans $ 7,437 $ 32 $ 27,489 $ 601 The following table shows our average recorded investment and interest income recognized for impaired loans for the nine September 30, 2019 September 30, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,214 $ 27 $ 4,201 $ 67 Commercial real estate 1,259 15 5,300 176 One-to-four family mixed-use property 1,919 51 3,759 108 One-to-four family residential 5,943 5 7,974 32 Construction 238 - 243 10 Non-mortgage loans: Small Business Administration 1,217 - 526 33 Taxi medallion 3,875 138 6,307 252 Commercial business and other 1,261 - 13,560 792 Total loans with no related allowance recorded 18,926 236 41,870 1,470 With an allowance recorded: Mortgage loans: Multi-family residential 1,266 54 1,896 78 Commercial real estate - - 1,206 39 One-to-four family mixed-use property 1,008 28 407 12 One-to-four family residential 393 12 - - Non-mortgage loans: Commercial business and other 1,572 - 307 13 Total loans with an allowance recorded 4,239 94 3,816 142 Total Impaired Loans: Total mortgage loans $ 15,240 $ 192 $ 24,986 $ 522 Total non-mortgage loans $ 7,925 $ 138 $ 20,700 $ 1,090 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, 2019 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 1,954 $ 3,756 $ - $ - $ 5,710 Commercial real estate 8,999 1,539 - - 10,538 One-to-four family - mixed-use property 1,789 1,215 - - 3,004 One-to-four family - residential 295 5,768 - - 6,063 Construction - - - - - Small Business Administration 55 85 - - 140 Taxi medallion - 3,513 - - 3,513 Commercial business and other 4,398 14,733 441 - 19,572 Total loans $ 17,490 $ 30,609 $ 441 $ - $ 48,540 December 31, 2018 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 2,498 $ 4,166 $ - $ - $ 6,664 Commercial real estate 381 4,051 - - 4,432 One-to-four family - mixed-use property 1,199 2,034 - - 3,233 One-to-four family - residential 557 6,665 - - 7,222 Construction 730 - - - 730 Small Business Administration 481 139 - - 620 Taxi medallion - 4,539 - - 4,539 Commercial business and other 730 21,348 3,512 - 25,590 Total loans $ 6,576 $ 42,942 $ 3,512 $ - $ 53,030 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 $67.3 million and $228.5 million, respectively, at September 30, 2019. |
Note 6 - Loans Held for Sale
Note 6 - Loans Held for Sale | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans Held for Sale [Text Block] | 6. Loans held for sale are carried at the lower of cost or estimated fair value. At September 30, 2019 December 31, 2018, no 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, 2019 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans Multi-family residential 1 $ 700 $ - $ 204 Commercial business and other 1 3,248 - - Total 2 $ 3,948 $ - $ 204 For the three months ended September 30, 2018 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) 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 nine months ended September 30, 2019 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans Multi-family residential 3 $ 1,465 $ - $ 267 One-to-four family - mixed-use property 1 405 (1 ) - Commercial business and other 1 3,248 - - Total 5 $ 5,118 $ (1 ) $ 267 Performing loans Small Business Administration 3 $ 2,069 $ - $ 114 Total 3 $ 2,069 $ - $ 114 For the nine months ended September 30, 2018 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) 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 |
Note 7 - Other Real Estate Owne
Note 7 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 7. The following table shows changes in OREO during the periods indicated: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Balance at beginning of period $ 239 $ - $ - $ - Acquisitions - - 239 638 Sales - - - (638 ) Balance at end of period $ 239 $ - $ 239 $ - The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income during the periods indicated: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains $ - $ - $ - $ 27 Included within net loans as of September 30, 2019 December 31, 2018 |
Note 8 - Leases
Note 8 - Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 8. The Company has 20 operating leases for branches (including headquarters) and office spaces, nine operating leases for vehicles, and one operating lease for equipment. Our leases have remaining lease terms ranging from five none The Company has elected the short-term lease recognition exemption such that the Company will not 12 one three nine September 30, 2019, three nine September 30, 2019, September 30, 2019, eight not September 30, 2019, not At or for the At or for the three months ended nine months ended (Dollars in thousands) September 30, 2019 September 30, 2019 Operating lease ROU assets $ 42,400 $ 42,400 Operating lease liabilities $ 50,626 $ 50,626 Lease Cost Operating lease cost $ 1,891 $ 5,676 Short-term lease cost 34 102 Variable lease cost 267 757 Total lease cost $ 2,192 $ 6,535 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,002 $ 6,052 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,253 $ 1,295 Weighted-average remaining lease term-operating leases (years) 7.7 7.7 Weighted average discount rate-operating leases 3.8 % 3.8 % The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows: Minimum Rental (In thousands) Years ended December 31: 2019 $ 1,694 2020 8,397 2021 7,644 2022 7,229 2023 7,366 Thereafter 26,378 Total minimum payments required 58,708 Less: implied interest 8,082 Total lease obligations $ 50,626 Certain leases have escalation clauses for operating expenses and real estate taxes. The Company’s non-cancelable operating lease agreements expire through 2032. |
Note 9 - Stock-based Compensati
Note 9 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 9. On January 31, 2019, 2019 may three may 150% no September 30, 2019, 2019 For the three September 30, 2019 2018, nine September 30, 2019 2018, nine September 30, 2019, nine September 30, 2018, three September 30, 2019 2018, not three September 30, 2019, not 2009 September 30, 2019, none 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 RSU and PRSU awards at or for the nine September 30, 2019: RSU Awards PRSU Awards Weighted-Average Weighted-Average Grant-Date Grant-Date Shares Fair Value Shares Fair Value Non-vested at December 31, 2018 502,658 $ 24.93 - $ - Granted 263,574 22.38 66,130 22.38 Vested (279,187 ) 23.39 (30,491 ) 22.38 Forfeited (26,160 ) 24.85 - - Non-vested at September 30, 2019 460,885 $ 24.41 35,639 $ 22.38 Vested but unissued at September 30, 2019 229,352 $ 24.67 24,691 $ 22.38 As of September 30, 2019, three September 30, 2019 2018 nine September 30, 2019 2018 no Phantom Stock Plan: one The following table summarizes the Phantom Stock Plan at or for the nine September 30, 2019: Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2018 99,313 $ 21.53 Granted 10,278 21.97 Distributions (1,055 ) 21.91 Outstanding at September 30, 2019 108,536 $ 20.20 Vested at September 30, 2019 108,228 $ 20.20 The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $0.2 million and $0.1 million for the three September 30, 2019 2018, three September 30, 2019 2018, The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $0.1 million and $0.2 million for the nine September 30, 2019 2018, nine September 30, 2019 2018, |
Note 10 - Pension and Other Pos
Note 10 - Pension and Other Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 10. 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 September 30, September 30, (In thousands) 2019 2018 2019 2018 Employee Pension Plan: Interest cost $ 199 $ 195 $ 597 $ 585 Amortization of unrecognized loss 68 155 201 465 Expected return on plan assets (272 ) (363 ) (816 ) (1,089 ) Net employee pension benefit $ (5 ) $ (13 ) $ (18 ) $ (39 ) Outside Director Pension Plan: Service cost $ 10 $ 11 $ 30 $ 33 Interest cost 21 19 63 60 Amortization of unrecognized gain (35 ) (23 ) (105 ) (69 ) Amortization of past service liability - 3 - 9 Net outside director pension (benefit) expense $ (4 ) $ 10 $ (12 ) $ 33 Other Postretirement Benefit Plans: Service cost $ 70 $ 88 $ 210 $ 264 Interest cost 85 77 255 231 Amortization of past service credit (22 ) (13 ) (64 ) (37 ) Net other postretirement expense $ 133 $ 152 $ 401 $ 458 The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2018 December 31, 2019. no September 30, 2019, September 30, 2019, not December 31, 2019. |
Note 11 - Fair Value of Financi
Note 11 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 11. 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. GAAP permits entities to choose to measure many financial instruments and certain other items at fair value. At September 30, 2019, December 31, 2018, not three nine September 30, 2019 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) 2019 2018 September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Mortgage-backed securities $ 812 $ 967 $ - $ (6 ) $ 2 $ (17 ) Other securities 13,524 12,843 107 (72 ) 470 (272 ) Borrowed funds 43,910 41,849 (599 ) (607 ) (2,353 ) (3,155 ) Net loss from fair value adjustments (1)(2) $ (492 ) $ (685 ) $ (1,881 ) $ (3,444 ) 1. The net loss from fair value adjustments presented in the above table does not three September 30, 2019 2018, 2. The net loss from fair value adjustments presented in the above table does not nine September 30, 2019 2018, 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 million at both September 30, 2019 December 31, 2018. September 30, 2019 December 31, 2018, 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, 2019 December 31, 2018, 1 one Level 2 not not September 30, 2019 December 31, 2018, 2 Level 3 3. September 30, 2019 December 31, 2018, 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, 2019 December 31, 2018: Quoted Prices in Active Markets Significant Other Significant Other for Identical Assets Observable Inputs Unobservable Inputs Total carried at fair value (Level 1) (Level 2) (Level 3) on a recurring basis 2019 2018 2019 2018 2019 2018 2019 2018 (In thousands) Assets: Mortgage-backed Securities $ - $ - $ 579,010 $ 557,953 $ - $ - $ 579,010 $ 557,953 Other securities 12,206 11,586 232,941 251,860 1,318 1,256 246,465 264,702 Interest rate swaps - - 156 15,961 - - 156 15,961 Total assets $ 12,206 $ 11,586 $ 812,107 $ 825,774 $ 1,318 $ 1,256 $ 825,631 $ 838,616 Liabilities: Borrowings $ - $ - $ - $ - $ 43,910 $ 41,849 $ 43,910 $ 41,849 Interest rate swaps - - 30,988 2,239 - - 30,988 2,239 Total liabilities $ - $ - $ 30,988 $ 2,239 $ 43,910 $ 41,849 $ 74,898 $ 44,088 The following tables set forth the rollforwards of 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, 2019 September 30, 2018 Trust preferred Junior subordinated Trust preferred Junior subordinated securities debentures securities debentures (In thousands) Beginning balance $ 1,303 $ 43,414 $ 1,188 $ 39,566 Net gain from fair value adjustment of financial assets (1) 15 - 17 - Net loss from fair value adjustment of financial liabilities (1) - 599 - 607 Decrease in accrued interest payable - (15 ) - (9 ) Change in unrealized gains included in other comprehensive income - (88 ) - (13 ) Ending balance $ 1,318 $ 43,910 $ 1,205 $ 40,151 Changes in unrealized gains held at period end $ - $ 1,513 $ - $ 1,164 For the nine months ended September 30, 2019 September 30, 2018 Trust preferred Junior subordinated Trust preferred Junior subordinated securities debentures securities debentures (In thousands) Beginning balance $ 1,256 $ 41,849 $ 1,110 $ 36,986 Net gain from fair value adjustment of financial assets (1) 64 - 94 - Net loss from fair value adjustment of financial liabilities (1) - 2,353 - 3,155 Increase in accrued interest receivable - - 1 - Decrease (increase) in accrued interest payable (2 ) (27 ) - 42 Change in unrealized gains included in other comprehensive income - (265 ) - (32 ) Ending balance $ 1,318 $ 43,910 $ 1,205 $ 40,151 Changes in unrealized gains held at period end $ - $ 1,513 $ - $ 1,164 1. Totals in the table above are presented in the Consolidated Statement of Income under net loss from fair value adjustments. During the three nine September 30, 2019 2018, no 1, 2 3. The following tables present the quantitative information about recurring Level 3 September 30, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,318 Discounted cash flows Discount rate n/a 4.2 % Liabilities: Junior subordinated debentures $ 43,910 Discounted cash flows Discount rate n/a 4.2 % December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,256 Discounted cash flows Discount rate n/a 4.9 % Liabilities: Junior subordinated debentures $ 41,849 Discounted cash flows Discount rate n/a 4.9 % 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, 2019 December 31, 2018, 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, 2019 December 31, 2018: Quoted Prices in Active Markets Significant Other Significant Other for Identical Assets Observable Inputs Unobservable Inputs Total carried at fair value (Level 1) (Level 2) (Level 3) on a non-recurring basis 2019 2018 2019 2018 2019 2018 2019 2018 (In thousands) Assets Impaired loans $ - $ - $ - $ - $ 778 $ 4,111 $ 778 $ 4,111 Other repossesed assets - - - - 239 35 239 35 Total assets $ - $ - $ - $ - $ 1,017 $ 4,146 $ 1,017 $ 4,146 The following tables present the qualitative information about non-recurring Level 3 September 30, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 149 Sales approach Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 629 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -15.0% to 15.0% -3.7% Capitalization rate 9.0% to 9.5% 9.2% Reduction for planned expedited disposal 15.0% 15.0% Other real estate owned $ 239 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales 0.5% to 12.5% 6.5% At December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 204 Income approach Capitalization rate 8.5% 8.5% Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 2,724 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales 0.0% 0.0% Reduction for planned expedited disposal -36.5% to 15.0% 10.4% Impaired loans $ 1,183 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 10.0% -7.8% Capitalization rate 7.4% to 9.8% 8.7% Reduction for planned expedited disposal 15.0% 15.0% Other repossesed assets $ 35 Sales approach Reduction for planned expediated disposal 0.0% 0.0% The Company did not September 30, 2019 December 31, 2018. The methods and assumptions used to estimate fair value at September 30, 2019 December 31, 2018 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% of the appraised or internally estimated value of the property, except for taxi medallion loans. The fair value of the underlying collateral of taxi medallion loans is the most recent reported arm’s length transaction. When there is no 5 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, 2019 Carrying Fair Amount Value Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 86,989 $ 86,989 $ 86,989 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,939 8,372 - 8,372 - Other securities 52,101 55,498 - - 55,498 Securities available for sale Mortgage-backed securities 579,010 579,010 - 579,010 - Other securities 246,465 246,465 12,206 232,941 1,318 Loans 5,765,763 5,809,209 - - 5,809,209 FHLB-NY stock 65,280 65,280 - 65,280 - Accrued interest receivable 26,566 26,566 12 2,767 23,787 Interest rate swaps 156 156 - 156 - Liabilities: Deposits $ 4,974,312 $ 4,979,324 $ 3,467,936 $ 1,511,388 $ - Borrowings 1,422,440 1,628,483 - 1,584,573 43,910 Accrued interest payable 8,284 8,284 - 8,284 - Interest rate swaps 30,988 30,988 - 30,988 - December 31, 2018 Carrying Fair Amount Value Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 118,561 $ 118,561 $ 118,561 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,953 7,366 - 7,366 - Other securities 24,065 22,508 - - 22,508 Securities available for sale Mortgage-backed securities 557,953 557,953 - 557,953 - Other securities 264,702 264,702 11,586 251,860 1,256 Loans 5,551,484 5,496,266 - - 5,496,266 FHLB-NY stock 57,282 57,282 - 57,282 - Accrued interest receivable 25,485 25,485 54 2,756 22,675 Interest rate swaps 15,961 15,961 - 15,961 - Liabilities: Deposits $ 4,960,784 $ 4,955,077 $ 3,397,474 $ 1,557,603 $ - Borrowings 1,250,843 1,241,745 - 1,199,896 41,849 Accrued interest payable 5,890 5,890 - 5,890 - Interest rate swaps 2,239 2,239 - 2,239 - |
Note 12 - Derivative Financial
Note 12 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 12. At September 30, 2019 December 31, 2018, three 1 September 30, 2019 December 31, 2018; 2 September 30, 2019 December 31, 2018, 3 September 30, 2019 December 31, 2018, At September 30, 2019 December 31, 2018, 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, 2019 December 31, 2018, not September 30, 2019 December 31, 2018, September 30, 2019 December 31, 2018, For cash flow hedges, the effective portion of changes in the fair value of the derivative is reported in AOCL, net of tax. Amounts in AOCL are reclassified into earnings in the same period during which the hedged forecasted transaction effects earnings. During the three September 30, 2019 2018, nine September 30, 2019 2018, 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, 2019 December 31, 2018 Notional Net Carrying Notional Net Carrying Amount Value (1) Amount Value (1) (In thousands) Interest rate swaps (fair value hedge) $ 50,463 $ 156 $ 248,330 $ 10,593 Interest rate swaps (fair value hedge) 268,468 (13,277 ) 19,468 (502 ) Interest rate swaps (cash flow hedge) - - 441,500 5,368 Interest rate swaps (cash flow hedge) 541,500 (11,695 ) - - Interest rate swaps (non-hedge) 36,321 (6,016 ) 36,321 (1,737 ) Total derivatives $ 896,752 $ (30,832 ) $ 745,619 $ 13,722 ( 1 Derivatives in a positive position are recorded as “Other assets” and derivatives in a 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 September 30, September 30, (In thousands) 2019 2018 2019 2018 Financial Derivatives: Interest rate swaps (non-hedge) (1) $ (1,632 ) $ 668 $ (4,279 ) $ 2,382 Interest rate swaps (fair value hedge) (2) (1,262 ) (153 ) (2,717 ) 525 Net (loss) gain $ (2,894 ) $ 515 $ (6,996 ) $ 2,907 ( 1 Net gains and losses are recorded as part of “Net gain/loss from fair value adjustments” in the Consolidated Statements of Income. ( 2 Net gains and losses recorded during the three nine September 30, 2019, three nine September 30, 2018, 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, 2019 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 $ 156 $ - $ 156 $ - $ - $ 156 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 $ 30,988 $ - $ 30,988 $ 31,070 $ - $ (82 ) December 31, 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 $ 15,961 $ - $ 15,961 $ - $ 14,960 $ 1,001 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 $ 2,239 $ - $ 2,239 $ - $ - $ 2,239 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. 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, 2019, 2014, 2015 2016 2014. Income tax provisions are summarized as follows: For the three months For the nine months ended September 30, ended September 30, (In thousands) 2019 2018 2019 2018 Federal: Current $ 3,578 $ 2,899 $ 9,354 $ 9,064 Deferred (1,121 ) (592 ) (1,973 ) (839 ) Total federal tax provision 2,457 2,307 7,381 8,225 State and Local: Current 1,345 33 2,518 1,722 Deferred (1,266 ) (430 ) (1,804 ) (598 ) Total state and local tax provision 79 (397 ) 714 1,124 Total income tax provision $ 2,536 $ 1,910 $ 8,095 $ 9,349 |
Note 14 - Accumulated Other Com
Note 14 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 14. 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, 2019 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities Total (In thousands) Beginning balance, net of tax $ (3,815 ) $ (6,132 ) $ (1,658 ) $ 989 $ (10,616 ) Other comprehensive income before reclassifications, net of tax (475 ) (1,664 ) - 61 (2,078 ) Amounts reclassified from accumulated other comprehensive income, net of tax (282 ) 7 - (275 ) Net current period other comprehensive income (loss), net of tax (475 ) (1,946 ) 7 61 (2,353 ) Ending balance, net of tax $ (4,290 ) $ (8,078 ) $ (1,651 ) $ 1,050 $ (12,969 ) For the three months ended September 30, 2018 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities 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 nine months ended September 30, 2019 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities Total (In thousands) Beginning balance, net of tax $ (15,649 ) $ 3,704 $ (1,673 ) $ 866 $ (12,752 ) Other comprehensive income before reclassifications, net of tax 11,349 (10,914 ) - 184 619 Amounts reclassified from accumulated other comprehensive income, net of tax 10 (868 ) 22 - (836 ) Net current period other comprehensive income (loss), net of tax 11,359 (11,782 ) 22 184 (217 ) Ending balance, net of tax $ (4,290 ) $ (8,078 ) $ (1,651 ) $ 1,050 $ (12,969 ) For the nine months ended September 30, 2018 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities 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 ) 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, 2019 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (In thousands) Unrealized gains (losses) on available for sale securities $ - Net loss on sale of securities - Provision for income taxes $ - Net of tax Cash flow hedges: Interest rate swaps $ 409 Other interest expense (127 ) Provision for income taxes $ 282 Net of tax Amortization of defined benefit pension items: Actuarial gain (losses) $ (33 ) (1) Other operating expense Prior service credits 22 (1) Other operating expense (11 ) Total before tax 4 Provision for income taxes $ (7 ) Net of tax For the three months ended September 30, 2018 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (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 nine months ended September 30, 2019 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (In thousands) Unrealized gains (losses) on available for sale securities $ (15 ) Net loss on sale of securities 5 Provision for income taxes $ (10 ) Net of tax Cash flow hedges: Interest rate swaps $ 1,257 Other interest income (389 ) Provision for income taxes $ 868 Net of tax Amortization of defined benefit pension items: Actuarial gain (losses) $ (96 ) (1) Other operating expense Prior service credits 64 (1) Other operating expense (32 ) Total before tax 10 Provision for income taxes $ (22 ) Net of tax For the nine months ended September 30, 2018 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (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 1. These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 |
Note 15 - Regulatory Capital
Note 15 - Regulatory Capital | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 15. Regulatory Capital Under current capital regulations, the Bank is required to comply with four September 30, 2019, September 30, 2019 Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards. September 30, 2019 December 31, 2018 Percent of Percent of Amount Assets Amount Assets (Dollars in thousands) Tier I (leverage) capital: Capital level $ 673,084 9.66 % $ 660,782 9.85 % Requirement to be well capitalized 348,415 5.00 335,512 5.00 Excess 324,669 4.66 325,270 4.85 Common Equity Tier I risk-based capital: Capital level $ 673,084 12.79 % $ 660,782 13.28 % Requirement to be well capitalized 342,103 6.50 323,386 6.50 Excess 330,981 6.29 337,396 6.78 Tier 1 risk-based capital: Capital level $ 673,084 12.79 % $ 660,782 13.28 % Requirement to be well capitalized 421,049 8.00 398,014 8.00 Excess 252,035 4.79 262,768 5.28 Total risk-based capital: Capital level $ 695,120 13.21 % $ 681,727 13.70 % Requirement to be well capitalized 526,312 10.00 497,517 10.00 Excess 168,808 3.21 184,210 3.70 The Holding Company is subject to the same regulatory capital requirements as the Bank. As of September 30, 2019, September 30, 2019 Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards. September 30, 2019 December 31, 2018 Percent of Percent of Amount Assets Amount Assets (Dollars in thousands) Tier I (leverage) capital: Capital level $ 606,844 8.71 % $ 586,582 8.74 % Requirement to be well capitalized 348,355 5.00 335,616 5.00 Excess 258,489 3.71 250,966 3.74 Common Equity Tier I risk-based capital: Capital level $ 564,466 10.73 % $ 546,230 10.98 % Requirement to be well capitalized 342,078 6.50 323,382 6.50 Excess 222,388 4.23 222,848 4.48 Tier 1 risk-based capital: Capital level $ 606,844 11.53 % $ 586,582 11.79 % Requirement to be well capitalized 421,019 8.00 398,008 8.00 Excess 185,825 3.53 188,574 3.79 Total risk-based capital: Capital level $ 703,879 13.37 % $ 682,527 13.72 % Requirement to be well capitalized 526,274 10.00 497,511 10.00 Excess 177,605 3.37 185,016 3.72 |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. On October 24, 2019, October 24, 2019. Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals and the approval of Empire’s shareholders. The combined company at close is expected to have approximately $8.0 billion in assets, $6.3 billion in loans, $5.8 billion in deposits, and 23 branches in Queens, Brooklyn, Manhattan, and on Long Island. |
Note 17 - New Authoritative Acc
Note 17 - New Authoritative Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 17. Accounting Standards Adopted in 2019: In February 2016, 842, Leases No. 2016 02, Leases may January 1, 2019, 842, 842. As the rate implicit in each of the Company’s leases is not not The new leasing standard provides a number of optional practical expedients in transition. The Company has elected the “package of practical expedients”, which permits the Company not not not 842 not 8 In August 2017, No. 2017 12, 815 January 1, 2019, January 1, 2019, three nine September 30, 2019. 12 Accounting Standards Pending Adoption: In August 2018, No. 2018 14, 715 20 December 15, 2020. In August 2018, No. 2018 13, 820 820. December 15, 2019. not In January 2017, No. 2017 04, 350 2 December 15, 2019, January 1, 2017. not In June 2016, No. 2016 13, 326 CECL requires consideration of broader range of information in order to update expected credit losses which includes historical experience, current conditions, and reasonable and supportable forecast that affect the collectability of the reported amount. The allowance of credit losses is an estimated account that is deducted from the amortized cost basis of the financial asset to present the net carrying value at the amount expected to be collected on the financial assets. This is intended to provide the financial statement users a better understanding of the expected loss on financial instruments and other commitments held by an entity at each reporting date. For public business entities that are U.S. Securities and Exchange Commission (SEC) Filers, this ASU is effective for fiscal years beginning after December 15, 2019, January 1, 2020 March 31, 2020 no Our CECL efforts through September 30, 2019 2019. CECL requires a cumulative-effect adjustment to retained earnings as the beginning of the reporting period of adoption. This adoption could have a material impact on the Company’s consolidated results of operations and financial condition. The extent of the impact is still being calculated and will depend on many factors, such as the composition of the Company’s loan portfolio, the portfolio’s credit quality and economic condition as well as our estimation of credit losses at adoption. |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 10,724 $ 17,333 $ 28,348 $ 42,668 Divided by: Weighted average common shares outstanding 28,730 28,604 28,704 28,806 Weighted average common stock equivalents - - - 1 Total weighted average common shares outstanding and common stock equivalents 28,730 28,604 28,704 28,807 Basic earnings per common share $ 0.37 $ 0.61 $ 0.99 $ 1.48 Diluted earnings per common share (1) $ 0.37 $ 0.61 $ 0.99 $ 1.48 Dividend payout ratio 56.8 % 32.8 % 63.6 % 40.5 % |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Securities held-to-maturity: Municipals $ 52,101 $ 55,498 $ 3,397 $ - Total other securities 52,101 55,498 3,397 - FNMA 7,939 8,372 433 - Total mortgage-backed securities 7,939 8,372 433 - Total $ 60,040 $ 63,870 $ 3,830 $ - Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Securities held-to-maturity: Municipals $ 24,065 $ 22,508 $ - $ 1,557 Total other securities 24,065 22,508 - 1,557 FNMA 7,953 7,366 - 587 Total mortgage-backed securities 7,953 7,366 - 587 Total $ 32,018 $ 29,874 $ - $ 2,144 Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Corporate $ 130,000 $ 120,543 $ - $ 9,457 Municipals 12,849 13,017 168 - Mutual funds 12,206 12,206 - - Collateralized loan obligations 100,336 99,381 5 960 Other 1,318 1,318 - - Total other securities 256,709 246,465 173 10,417 REMIC and CMO 390,044 392,525 3,604 1,123 GNMA 706 764 58 - FNMA 106,773 107,383 998 388 FHLMC 77,455 78,338 998 115 Total mortgage-backed securities 574,978 579,010 5,658 1,626 Total securities available for sale $ 831,687 $ 825,475 $ 5,831 $ 12,043 Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) Corporate $ 130,000 $ 118,535 $ - $ 11,465 Municipals 46,231 46,574 343 - Mutual funds 11,586 11,586 - - Collateralized loan obligations 88,396 86,751 - 1,645 Other 1,256 1,256 - - Total other securities 277,469 264,702 343 13,110 REMIC and CMO 382,632 376,340 885 7,177 GNMA 785 826 41 - FNMA 94,069 91,693 72 2,448 FHLMC 90,377 89,094 113 1,396 Total mortgage-backed securities 567,863 557,953 1,111 11,021 Total securities available for sale $ 845,332 $ 822,655 $ 1,454 $ 24,131 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Securities held-to-maturity: Cost Fair Value (In thousands) Due in one year or less $ 1,180 $ 1,180 Due after ten years 50,921 54,318 Total other securities 52,101 55,498 Mortgage-backed securities 7,939 8,372 Total $ 60,040 $ 63,870 Amortized Securities available for sale: Cost Fair Value (In thousands) Due after one year through five years $ 10,000 $ 9,762 Due after five years through ten years 137,913 128,645 Due after ten years 96,590 95,852 Total other securities 244,503 234,259 Mutual funds 12,206 12,206 Mortgage-backed securities 574,978 579,010 Total $ 831,687 $ 825,475 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | At September 30, 2019 Total Less than 12 months 12 months or more Unrealized Unrealized Unrealized Count Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for sale securities Corporate 16 $ 120,543 $ 9,457 $ 9,663 $ 338 $ 110,880 $ 9,119 CLO 12 91,916 960 63,821 485 28,095 475 Total other securities 28 212,459 10,417 73,484 823 138,975 9,594 REMIC and CMO 25 157,584 1,123 138,250 887 19,334 236 FNMA 7 69,075 388 14,888 30 54,187 358 FHLMC 1 34,816 115 - - 34,816 115 Total mortgage-backed securities 33 261,475 1,626 153,138 917 108,337 709 Total 61 $ 473,934 $ 12,043 $ 226,622 $ 1,740 $ 247,312 $ 10,303 At December 31, 2018 Total Less than 12 months 12 months or more Unrealized Unrealized Unrealized Count Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Held-to-maturity securities Municipals 1 $ 19,940 $ 1,557 $ - $ - $ 19,940 $ 1,557 Total other securities 1 19,940 1,557 - - 19,940 1,557 FNMA 1 7,366 587 - - 7,366 587 Total mortgage-backed securities 1 7,366 587 - - 7,366 587 Total securities held-to-maturity 2 $ 27,306 $ 2,144 $ - $ - $ 27,306 $ 2,144 Available for sale securities Corporate 16 $ 118,535 $ 11,465 $ 19,113 $ 888 $ 99,422 $ 10,577 Municipals 3 4,220 - 4,220 - - - CLO 11 86,752 1,645 86,752 1,645 - - Total other securities 30 209,507 13,110 110,085 2,533 99,422 10,577 REMIC and CMO 39 243,756 7,177 17,308 200 226,448 6,977 GNMA 1 51 - 51 - - - FNMA 14 85,046 2,448 6,372 17 78,674 2,431 FHLMC 3 51,288 1,396 10,116 95 41,172 1,301 Total mortgage-backed securities 57 380,141 11,021 33,847 312 346,294 10,709 Total securities available for sale 87 $ 589,648 $ 24,131 $ 143,932 $ 2,845 $ 445,716 $ 21,286 |
Schedule of Realized Gain (Loss) [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains from the sale of securities $ - $ - $ 423 $ - Gross losses from the sale of securities - - (438 ) - Net losses from the sale of securities $ - $ - $ (15 ) $ - |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block] | For the three and nine months ended September 30, 2019 September 30, 2018 (Dollars in thousands) Number Balance Modification description Number Balance Modification description Commercial business and other 3 $ 951 Amortization extensions 1 $ 1,620 Amortization extension Total 3 $ 951 1 $ 1,620 |
Financing Receivable, Nonaccrual [Table Text Block] | September 30, December 31, (In thousands) 2019 2018 Loans ninety days or more past due and still accruing: Multi-family residential $ 445 $ - Total 445 - Non-accrual mortgage loans: Multi-family residential 3,132 2,410 Commercial real estate 872 1,379 One-to-four family - mixed-use property 683 928 One-to-four family - residential 5,050 6,144 Total 9,737 10,861 Non-accrual non-mortgage loans: Small Business Administration 1,151 1,267 Taxi medallion (1) 1,352 613 Commercial business and other (1) 2,020 3,512 Total 4,523 5,392 Total non-accrual loans 14,260 16,253 Total non-performing loans $ 14,705 $ 16,253 |
Schedule of Interest Foregone on Non-Accrual and TDR Loans [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 416 $ 398 $ 1,224 $ 1,194 Less: Interest income included in the results of operations 89 173 330 487 Total foregone interest $ 327 $ 225 $ 894 $ 707 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2019 Greater 30 - 59 Days 60 - 89 Days than Total Past (In thousands) Past Due Past Due 90 Days Due Current Total Loans Multi-family residential $ 1,112 $ 1,401 $ 3,577 $ 6,090 $ 2,226,215 $ 2,232,305 Commercial real estate 5,944 940 872 7,756 1,551,825 1,559,581 One-to-four family - mixed-use property 1,458 869 408 2,735 584,365 587,100 One-to-four family - residential 1,020 243 5,050 6,313 178,119 184,432 Co-operative apartments - - - - 9,089 9,089 Construction loans - - - - 64,234 64,234 Small Business Administration 1,849 - 1,151 3,000 10,982 13,982 Taxi medallion - - 766 766 2,747 3,513 Commercial business and other 3 100 2,020 2,123 1,094,041 1,096,164 Total $ 11,386 $ 3,553 $ 13,844 $ 28,783 $ 5,721,617 $ 5,750,400 December 31, 2018 Greater 30 - 59 Days 60 - 89 Days than Total Past (In thousands) Past Due Past Due 90 Days Due Current Total Loans Multi-family residential $ 1,887 $ 339 $ 2,410 $ 4,636 $ 2,264,412 $ 2,269,048 Commercial real estate 379 - 1,379 1,758 1,540,789 1,542,547 One-to-four family - mixed-use property 1,003 322 928 2,253 575,488 577,741 One-to-four family - residential 1,564 - 6,144 7,708 182,642 190,350 Co-operative apartments - - - - 8,498 8,498 Construction loans - 730 - 730 49,870 50,600 Small Business Administration 774 68 1,267 2,109 13,101 15,210 Taxi medallion - - - - 4,539 4,539 Commercial business and other 1,306 281 2,216 3,803 873,960 877,763 Total $ 6,913 $ 1,740 $ 14,344 $ 22,997 $ 5,513,299 $ 5,536,296 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | September 30, 2019 (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 Total Allowance for credit losses: Beginning balance $ 5,506 $ 4,265 $ 1,786 $ 746 $ 381 $ 382 $ - $ 8,444 $ 21,510 Charge-off's (189 ) - - - - - - (242 ) (431 ) Recoveries 6 - 140 3 - 32 - 92 273 Provision (Benefit) 54 99 (120 ) (4 ) 37 (57 ) - 674 683 Ending balance $ 5,377 $ 4,364 $ 1,806 $ 745 $ 418 $ 357 $ - $ 8,968 $ 22,035 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, 2019 (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 Total Allowance for credit losses: Beginning balance $ 5,676 $ 4,315 $ 1,867 $ 749 $ 329 $ 418 $ - $ 7,591 $ 20,945 Charge-off's (190 ) - (1 ) (113 ) - - - (2,379 ) (2,683 ) Recoveries 30 7 228 10 - 52 134 183 644 Provision (Benefit) (139 ) 42 (288 ) 99 89 (113 ) (134 ) 3,573 3,129 Ending balance $ 5,377 $ 4,364 $ 1,806 $ 745 $ 418 $ 357 $ - $ 8,968 $ 22,035 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 |
Schedule of Loans and the Manner in which they are Evaluated for Impairment [Table Text Block] | September 30, 2019 (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 Total Financing Receivables: Ending Balance $ 2,232,305 $ 1,559,581 $ 587,100 $ 184,432 $ 9,089 $ 64,234 $ 13,982 $ 3,513 $ 1,096,164 $ 5,750,400 Ending balance: individually evaluated for impairment $ 5,195 $ 949 $ 2,192 $ 5,841 $ - $ - $ 1,151 $ 3,513 $ 2,970 $ 21,811 Ending balance: collectively evaluated for impairment $ 2,227,110 $ 1,558,632 $ 584,908 $ 178,591 $ 9,089 $ 64,234 $ 12,831 $ - $ 1,093,194 $ 5,728,589 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 94 $ - $ 51 $ 48 $ - $ - $ - $ - $ 116 $ 309 Ending balance: collectively evaluated for impairment $ 5,283 $ 4,364 $ 1,755 $ 697 $ - $ 418 $ 357 $ - $ 8,852 $ 21,726 December 31, 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 Total Financing Receivables: Ending Balance $ 2,269,048 $ 1,542,547 $ 577,741 $ 190,350 $ 8,498 $ 50,600 $ 15,210 $ 4,539 $ 877,763 $ 5,536,296 Ending balance: individually evaluated for impairment $ 4,500 $ 1,435 $ 3,098 $ 6,889 $ - $ - $ 1,267 $ 4,539 $ 3,791 $ 25,519 Ending balance: collectively evaluated for impairment $ 2,264,548 $ 1,541,112 $ 574,643 $ 183,461 $ 8,498 $ 50,600 $ 13,943 $ - $ 873,972 $ 5,510,777 Allowance for credit losses: Ending balance: individually evaluated for impairment $ 100 $ - $ 143 $ 51 $ - $ - $ - $ - $ 866 $ 1,160 Ending balance: collectively evaluated for impairment $ 5,576 $ 4,315 $ 1,724 $ 698 $ - $ 329 $ 418 $ - $ 6,725 $ 19,785 |
Impaired Financing Receivables [Table Text Block] | September 30, 2019 December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,939 $ 4,438 $ - $ 3,225 $ 3,568 $ - Commercial real estate 949 949 - 1,435 1,435 - One-to-four family mixed-use property 1,345 1,347 - 1,913 2,113 - One-to-four family residential 5,454 5,512 - 6,490 6,643 - Non-mortgage loans: Small Business Administration 1,151 1,421 - 1,267 1,609 - Taxi medallion 3,513 9,731 - 4,539 12,788 - Commercial business and other 2,019 4,060 - - - - Total loans with no related allowance recorded 18,370 27,458 - 18,869 28,156 - With an allowance recorded: Mortgage loans: Multi-family residential 1,256 1,256 94 1,275 1,275 100 One-to-four family mixed-use property 847 847 51 1,185 1,185 143 One-to-four family residential 387 387 48 399 399 51 Non-mortgage loans: Commercial business and other 951 951 116 3,791 3,791 866 Total loans with an allowance recorded 3,441 3,441 309 6,650 6,650 1,160 Total Impaired Loans: Total mortgage loans $ 14,177 $ 14,736 $ 193 $ 15,922 $ 16,618 $ 294 Total non-mortgage loans $ 7,634 $ 16,163 $ 116 $ 9,597 $ 18,188 $ 866 September 30, 2019 September 30, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,398 $ 9 $ 4,013 $ 31 Commercial real estate 1,252 - 4,587 50 One-to-four family mixed-use property 1,889 17 3,452 28 One-to-four family residential 5,607 1 7,742 7 Construction - - 365 - Non-mortgage loans: Small Business Administration 1,188 - 739 31 Taxi medallion 3,534 32 6,152 84 Commercial business and other 1,912 - 20,301 482 Total loans with no related allowance recorded 18,780 59 47,351 713 With an allowance recorded: Mortgage loans: Multi-family residential 1,260 18 1,740 19 One-to-four family mixed-use property 922 8 1,201 15 One-to-four family residential 389 4 405 4 Non-mortgage loans: Commercial business and other 803 - 297 4 Total loans with an allowance recorded 3,374 30 3,643 42 Total Impaired Loans: Total mortgage loans $ 14,717 $ 57 $ 23,505 $ 154 Total non-mortgage loans $ 7,437 $ 32 $ 27,489 $ 601 September 30, 2019 September 30, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With no related allowance recorded: Mortgage loans: Multi-family residential $ 3,214 $ 27 $ 4,201 $ 67 Commercial real estate 1,259 15 5,300 176 One-to-four family mixed-use property 1,919 51 3,759 108 One-to-four family residential 5,943 5 7,974 32 Construction 238 - 243 10 Non-mortgage loans: Small Business Administration 1,217 - 526 33 Taxi medallion 3,875 138 6,307 252 Commercial business and other 1,261 - 13,560 792 Total loans with no related allowance recorded 18,926 236 41,870 1,470 With an allowance recorded: Mortgage loans: Multi-family residential 1,266 54 1,896 78 Commercial real estate - - 1,206 39 One-to-four family mixed-use property 1,008 28 407 12 One-to-four family residential 393 12 - - Non-mortgage loans: Commercial business and other 1,572 - 307 13 Total loans with an allowance recorded 4,239 94 3,816 142 Total Impaired Loans: Total mortgage loans $ 15,240 $ 192 $ 24,986 $ 522 Total non-mortgage loans $ 7,925 $ 138 $ 20,700 $ 1,090 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2019 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 1,954 $ 3,756 $ - $ - $ 5,710 Commercial real estate 8,999 1,539 - - 10,538 One-to-four family - mixed-use property 1,789 1,215 - - 3,004 One-to-four family - residential 295 5,768 - - 6,063 Construction - - - - - Small Business Administration 55 85 - - 140 Taxi medallion - 3,513 - - 3,513 Commercial business and other 4,398 14,733 441 - 19,572 Total loans $ 17,490 $ 30,609 $ 441 $ - $ 48,540 December 31, 2018 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential $ 2,498 $ 4,166 $ - $ - $ 6,664 Commercial real estate 381 4,051 - - 4,432 One-to-four family - mixed-use property 1,199 2,034 - - 3,233 One-to-four family - residential 557 6,665 - - 7,222 Construction 730 - - - 730 Small Business Administration 481 139 - - 620 Taxi medallion - 4,539 - - 4,539 Commercial business and other 730 21,348 3,512 - 25,590 Total loans $ 6,576 $ 42,942 $ 3,512 $ - $ 53,030 |
Nonperforming Financial Instruments [Member] | |
Notes Tables | |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | September 30, 2019 December 31, 2018 Number Recorded Number Recorded (Dollars in thousands) of contracts investment of contracts investment Multi-family residential - $ - 1 $ 388 Taxi medallion 3 767 - - Commercial business and other 2 279 1 1,397 Total troubled debt restructurings that subsequently defaulted 5 $ 1,046 2 $ 1,785 |
Performing According to Restructured Terms [Member] | |
Notes Tables | |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | September 30, 2019 December 31, 2018 Number Recorded Number Recorded (Dollars in thousands) of contracts investment of contracts investment Multi-family residential 7 $ 1,883 7 $ 1,916 One-to-four family - mixed-use property 4 1,497 5 1,692 One-to-four family - residential 3 536 3 552 Taxi medallion (1) 8 2,161 15 3,926 Commercial business and other 3 951 1 279 Total performing troubled debt restructured 25 $ 7,028 31 $ 8,365 |
Note 6 - Loans Held for Sale (T
Note 6 - Loans Held for Sale (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Delinquent and Non-Performing Loans Sold During Period [Table Text Block] | For the three months ended September 30, 2019 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans Multi-family residential 1 $ 700 $ - $ 204 Commercial business and other 1 3,248 - - Total 2 $ 3,948 $ - $ 204 For the three months ended September 30, 2018 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) 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 nine months ended September 30, 2019 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans Multi-family residential 3 $ 1,465 $ - $ 267 One-to-four family - mixed-use property 1 405 (1 ) - Commercial business and other 1 3,248 - - Total 5 $ 5,118 $ (1 ) $ 267 Performing loans Small Business Administration 3 $ 2,069 $ - $ 114 Total 3 $ 2,069 $ - $ 114 For the nine months ended September 30, 2018 Net Recoveries (Dollars in thousands) Loans sold Proceeds (Charge-offs) 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 |
Note 7 - Other Real Estate Ow_2
Note 7 - Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Balance at beginning of period $ 239 $ - $ - $ - Acquisitions - - 239 638 Sales - - - (638 ) Balance at end of period $ 239 $ - $ 239 $ - |
Gross Gains, Gross (Losses) and Write-downs of OREO [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains $ - $ - $ - $ 27 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | At or for the At or for the three months ended nine months ended (Dollars in thousands) September 30, 2019 September 30, 2019 Operating lease ROU assets $ 42,400 $ 42,400 Operating lease liabilities $ 50,626 $ 50,626 Lease Cost Operating lease cost $ 1,891 $ 5,676 Short-term lease cost 34 102 Variable lease cost 267 757 Total lease cost $ 2,192 $ 6,535 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,002 $ 6,052 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,253 $ 1,295 Weighted-average remaining lease term-operating leases (years) 7.7 7.7 Weighted average discount rate-operating leases 3.8 % 3.8 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Minimum Rental (In thousands) Years ended December 31: 2019 $ 1,694 2020 8,397 2021 7,644 2022 7,229 2023 7,366 Thereafter 26,378 Total minimum payments required 58,708 Less: implied interest 8,082 Total lease obligations $ 50,626 |
Note 9 - Stock-based Compensa_2
Note 9 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | RSU Awards PRSU Awards Weighted-Average Weighted-Average Grant-Date Grant-Date Shares Fair Value Shares Fair Value Non-vested at December 31, 2018 502,658 $ 24.93 - $ - Granted 263,574 22.38 66,130 22.38 Vested (279,187 ) 23.39 (30,491 ) 22.38 Forfeited (26,160 ) 24.85 - - Non-vested at September 30, 2019 460,885 $ 24.41 35,639 $ 22.38 Vested but unissued at September 30, 2019 229,352 $ 24.67 24,691 $ 22.38 |
Phantom Share Units (PSUs) [Member] | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2018 99,313 $ 21.53 Granted 10,278 21.97 Distributions (1,055 ) 21.91 Outstanding at September 30, 2019 108,536 $ 20.20 Vested at September 30, 2019 108,228 $ 20.20 |
Note 10 - Pension and Other P_2
Note 10 - Pension and Other Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three months ended Nine months ended September 30, September 30, (In thousands) 2019 2018 2019 2018 Employee Pension Plan: Interest cost $ 199 $ 195 $ 597 $ 585 Amortization of unrecognized loss 68 155 201 465 Expected return on plan assets (272 ) (363 ) (816 ) (1,089 ) Net employee pension benefit $ (5 ) $ (13 ) $ (18 ) $ (39 ) Outside Director Pension Plan: Service cost $ 10 $ 11 $ 30 $ 33 Interest cost 21 19 63 60 Amortization of unrecognized gain (35 ) (23 ) (105 ) (69 ) Amortization of past service liability - 3 - 9 Net outside director pension (benefit) expense $ (4 ) $ 10 $ (12 ) $ 33 Other Postretirement Benefit Plans: Service cost $ 70 $ 88 $ 210 $ 264 Interest cost 85 77 255 231 Amortization of past service credit (22 ) (13 ) (64 ) (37 ) Net other postretirement expense $ 133 $ 152 $ 401 $ 458 |
Note 11 - Fair Value of Finan_2
Note 11 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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) 2019 2018 September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Mortgage-backed securities $ 812 $ 967 $ - $ (6 ) $ 2 $ (17 ) Other securities 13,524 12,843 107 (72 ) 470 (272 ) Borrowed funds 43,910 41,849 (599 ) (607 ) (2,353 ) (3,155 ) Net loss from fair value adjustments (1)(2) $ (492 ) $ (685 ) $ (1,881 ) $ (3,444 ) |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Active Markets Significant Other Significant Other for Identical Assets Observable Inputs Unobservable Inputs Total carried at fair value (Level 1) (Level 2) (Level 3) on a recurring basis 2019 2018 2019 2018 2019 2018 2019 2018 (In thousands) Assets: Mortgage-backed Securities $ - $ - $ 579,010 $ 557,953 $ - $ - $ 579,010 $ 557,953 Other securities 12,206 11,586 232,941 251,860 1,318 1,256 246,465 264,702 Interest rate swaps - - 156 15,961 - - 156 15,961 Total assets $ 12,206 $ 11,586 $ 812,107 $ 825,774 $ 1,318 $ 1,256 $ 825,631 $ 838,616 Liabilities: Borrowings $ - $ - $ - $ - $ 43,910 $ 41,849 $ 43,910 $ 41,849 Interest rate swaps - - 30,988 2,239 - - 30,988 2,239 Total liabilities $ - $ - $ 30,988 $ 2,239 $ 43,910 $ 41,849 $ 74,898 $ 44,088 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the three months ended September 30, 2019 September 30, 2018 Trust preferred Junior subordinated Trust preferred Junior subordinated securities debentures securities debentures (In thousands) Beginning balance $ 1,303 $ 43,414 $ 1,188 $ 39,566 Net gain from fair value adjustment of financial assets (1) 15 - 17 - Net loss from fair value adjustment of financial liabilities (1) - 599 - 607 Decrease in accrued interest payable - (15 ) - (9 ) Change in unrealized gains included in other comprehensive income - (88 ) - (13 ) Ending balance $ 1,318 $ 43,910 $ 1,205 $ 40,151 Changes in unrealized gains held at period end $ - $ 1,513 $ - $ 1,164 For the nine months ended September 30, 2019 September 30, 2018 Trust preferred Junior subordinated Trust preferred Junior subordinated securities debentures securities debentures (In thousands) Beginning balance $ 1,256 $ 41,849 $ 1,110 $ 36,986 Net gain from fair value adjustment of financial assets (1) 64 - 94 - Net loss from fair value adjustment of financial liabilities (1) - 2,353 - 3,155 Increase in accrued interest receivable - - 1 - Decrease (increase) in accrued interest payable (2 ) (27 ) - 42 Change in unrealized gains included in other comprehensive income - (265 ) - (32 ) Ending balance $ 1,318 $ 43,910 $ 1,205 $ 40,151 Changes in unrealized gains held at period end $ - $ 1,513 $ - $ 1,164 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted Prices in Active Markets Significant Other Significant Other for Identical Assets Observable Inputs Unobservable Inputs Total carried at fair value (Level 1) (Level 2) (Level 3) on a non-recurring basis 2019 2018 2019 2018 2019 2018 2019 2018 (In thousands) Assets Impaired loans $ - $ - $ - $ - $ 778 $ 4,111 $ 778 $ 4,111 Other repossesed assets - - - - 239 35 239 35 Total assets $ - $ - $ - $ - $ 1,017 $ 4,146 $ 1,017 $ 4,146 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2019 Carrying Fair Amount Value Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 86,989 $ 86,989 $ 86,989 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,939 8,372 - 8,372 - Other securities 52,101 55,498 - - 55,498 Securities available for sale Mortgage-backed securities 579,010 579,010 - 579,010 - Other securities 246,465 246,465 12,206 232,941 1,318 Loans 5,765,763 5,809,209 - - 5,809,209 FHLB-NY stock 65,280 65,280 - 65,280 - Accrued interest receivable 26,566 26,566 12 2,767 23,787 Interest rate swaps 156 156 - 156 - Liabilities: Deposits $ 4,974,312 $ 4,979,324 $ 3,467,936 $ 1,511,388 $ - Borrowings 1,422,440 1,628,483 - 1,584,573 43,910 Accrued interest payable 8,284 8,284 - 8,284 - Interest rate swaps 30,988 30,988 - 30,988 - December 31, 2018 Carrying Fair Amount Value Level 1 Level 2 Level 3 (In thousands) Assets: Cash and due from banks $ 118,561 $ 118,561 $ 118,561 $ - $ - Securities held-to-maturity Mortgage-backed securities 7,953 7,366 - 7,366 - Other securities 24,065 22,508 - - 22,508 Securities available for sale Mortgage-backed securities 557,953 557,953 - 557,953 - Other securities 264,702 264,702 11,586 251,860 1,256 Loans 5,551,484 5,496,266 - - 5,496,266 FHLB-NY stock 57,282 57,282 - 57,282 - Accrued interest receivable 25,485 25,485 54 2,756 22,675 Interest rate swaps 15,961 15,961 - 15,961 - Liabilities: Deposits $ 4,960,784 $ 4,955,077 $ 3,397,474 $ 1,557,603 $ - Borrowings 1,250,843 1,241,745 - 1,199,896 41,849 Accrued interest payable 5,890 5,890 - 5,890 - Interest rate swaps 2,239 2,239 - 2,239 - |
Fair Value, Nonrecurring [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 149 Sales approach Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 629 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -15.0% to 15.0% -3.7% Capitalization rate 9.0% to 9.5% 9.2% Reduction for planned expedited disposal 15.0% 15.0% Other real estate owned $ 239 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales 0.5% to 12.5% 6.5% At December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Impaired loans $ 204 Income approach Capitalization rate 8.5% 8.5% Reduction for planned expedited disposal 15.0% 15.0% Impaired loans $ 2,724 Sales approach Adjustment to sales comparison value to reconcile differences between comparable sales 0.0% 0.0% Reduction for planned expedited disposal -36.5% to 15.0% 10.4% Impaired loans $ 1,183 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales -30.0% to 10.0% -7.8% Capitalization rate 7.4% to 9.8% 8.7% Reduction for planned expedited disposal 15.0% 15.0% Other repossesed assets $ 35 Sales approach Reduction for planned expediated disposal 0.0% 0.0% |
Fair Value, Recurring [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, 2019 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,318 Discounted cash flows Discount rate n/a 4.2 % Liabilities: Junior subordinated debentures $ 43,910 Discounted cash flows Discount rate n/a 4.2 % December 31, 2018 Fair Value Valuation Technique Unobservable Input Range Weighted Average (Dollars in thousands) Assets: Trust preferred securities $ 1,256 Discounted cash flows Discount rate n/a 4.9 % Liabilities: Junior subordinated debentures $ 41,849 Discounted cash flows Discount rate n/a 4.9 % |
Note 12 - Derivative Financia_2
Note 12 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2019 December 31, 2018 Notional Net Carrying Notional Net Carrying Amount Value (1) Amount Value (1) (In thousands) Interest rate swaps (fair value hedge) $ 50,463 $ 156 $ 248,330 $ 10,593 Interest rate swaps (fair value hedge) 268,468 (13,277 ) 19,468 (502 ) Interest rate swaps (cash flow hedge) - - 441,500 5,368 Interest rate swaps (cash flow hedge) 541,500 (11,695 ) - - Interest rate swaps (non-hedge) 36,321 (6,016 ) 36,321 (1,737 ) Total derivatives $ 896,752 $ (30,832 ) $ 745,619 $ 13,722 |
Derivative Instruments, Gain (Loss) [Table Text Block] | For the three months ended For the nine months ended September 30, September 30, (In thousands) 2019 2018 2019 2018 Financial Derivatives: Interest rate swaps (non-hedge) (1) $ (1,632 ) $ 668 $ (4,279 ) $ 2,382 Interest rate swaps (fair value hedge) (2) (1,262 ) (153 ) (2,717 ) 525 Net (loss) gain $ (2,894 ) $ 515 $ (6,996 ) $ 2,907 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | September 30, 2019 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 $ 156 $ - $ 156 $ - $ - $ 156 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 $ 30,988 $ - $ 30,988 $ 31,070 $ - $ (82 ) December 31, 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 $ 15,961 $ - $ 15,961 $ - $ 14,960 $ 1,001 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 $ 2,239 $ - $ 2,239 $ - $ - $ 2,239 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the three months For the nine months ended September 30, ended September 30, (In thousands) 2019 2018 2019 2018 Federal: Current $ 3,578 $ 2,899 $ 9,354 $ 9,064 Deferred (1,121 ) (592 ) (1,973 ) (839 ) Total federal tax provision 2,457 2,307 7,381 8,225 State and Local: Current 1,345 33 2,518 1,722 Deferred (1,266 ) (430 ) (1,804 ) (598 ) Total state and local tax provision 79 (397 ) 714 1,124 Total income tax provision $ 2,536 $ 1,910 $ 8,095 $ 9,349 |
Note 14 - Accumulated Other C_2
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the three months ended September 30, 2019 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities Total (In thousands) Beginning balance, net of tax $ (3,815 ) $ (6,132 ) $ (1,658 ) $ 989 $ (10,616 ) Other comprehensive income before reclassifications, net of tax (475 ) (1,664 ) - 61 (2,078 ) Amounts reclassified from accumulated other comprehensive income, net of tax (282 ) 7 - (275 ) Net current period other comprehensive income (loss), net of tax (475 ) (1,946 ) 7 61 (2,353 ) Ending balance, net of tax $ (4,290 ) $ (8,078 ) $ (1,651 ) $ 1,050 $ (12,969 ) For the three months ended September 30, 2018 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities 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 nine months ended September 30, 2019 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities Total (In thousands) Beginning balance, net of tax $ (15,649 ) $ 3,704 $ (1,673 ) $ 866 $ (12,752 ) Other comprehensive income before reclassifications, net of tax 11,349 (10,914 ) - 184 619 Amounts reclassified from accumulated other comprehensive income, net of tax 10 (868 ) 22 - (836 ) Net current period other comprehensive income (loss), net of tax 11,359 (11,782 ) 22 184 (217 ) Ending balance, net of tax $ (4,290 ) $ (8,078 ) $ (1,651 ) $ 1,050 $ (12,969 ) For the nine months ended September 30, 2018 Unrealized Gains Unrealized Gains (Losses) on (Losses) on Fair Value Available for Sale Cash flow Defined Benefit Option Elected Securities Hedges Pension Items on Liabilities 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 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the three months ended September 30, 2019 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (In thousands) Unrealized gains (losses) on available for sale securities $ - Net loss on sale of securities - Provision for income taxes $ - Net of tax Cash flow hedges: Interest rate swaps $ 409 Other interest expense (127 ) Provision for income taxes $ 282 Net of tax Amortization of defined benefit pension items: Actuarial gain (losses) $ (33 ) (1) Other operating expense Prior service credits 22 (1) Other operating expense (11 ) Total before tax 4 Provision for income taxes $ (7 ) Net of tax For the three months ended September 30, 2018 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (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 nine months ended September 30, 2019 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (In thousands) Unrealized gains (losses) on available for sale securities $ (15 ) Net loss on sale of securities 5 Provision for income taxes $ (10 ) Net of tax Cash flow hedges: Interest rate swaps $ 1,257 Other interest income (389 ) Provision for income taxes $ 868 Net of tax Amortization of defined benefit pension items: Actuarial gain (losses) $ (96 ) (1) Other operating expense Prior service credits 64 (1) Other operating expense (32 ) Total before tax 10 Provision for income taxes $ (22 ) Net of tax For the nine months ended September 30, 2018 Amounts Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Statement Comprehensive Loss Components Comprehensive Loss Where Net Income is Presented (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 |
Note 15 - Regulatory Capital (T
Note 15 - Regulatory Capital (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | September 30, 2019 December 31, 2018 Percent of Percent of Amount Assets Amount Assets (Dollars in thousands) Tier I (leverage) capital: Capital level $ 673,084 9.66 % $ 660,782 9.85 % Requirement to be well capitalized 348,415 5.00 335,512 5.00 Excess 324,669 4.66 325,270 4.85 Common Equity Tier I risk-based capital: Capital level $ 673,084 12.79 % $ 660,782 13.28 % Requirement to be well capitalized 342,103 6.50 323,386 6.50 Excess 330,981 6.29 337,396 6.78 Tier 1 risk-based capital: Capital level $ 673,084 12.79 % $ 660,782 13.28 % Requirement to be well capitalized 421,049 8.00 398,014 8.00 Excess 252,035 4.79 262,768 5.28 Total risk-based capital: Capital level $ 695,120 13.21 % $ 681,727 13.70 % Requirement to be well capitalized 526,312 10.00 497,517 10.00 Excess 168,808 3.21 184,210 3.70 September 30, 2019 December 31, 2018 Percent of Percent of Amount Assets Amount Assets (Dollars in thousands) Tier I (leverage) capital: Capital level $ 606,844 8.71 % $ 586,582 8.74 % Requirement to be well capitalized 348,355 5.00 335,616 5.00 Excess 258,489 3.71 250,966 3.74 Common Equity Tier I risk-based capital: Capital level $ 564,466 10.73 % $ 546,230 10.98 % Requirement to be well capitalized 342,078 6.50 323,382 6.50 Excess 222,388 4.23 222,848 4.48 Tier 1 risk-based capital: Capital level $ 606,844 11.53 % $ 586,582 11.79 % Requirement to be well capitalized 421,019 8.00 398,008 8.00 Excess 185,825 3.53 188,574 3.79 Total risk-based capital: Capital level $ 703,879 13.37 % $ 682,527 13.72 % Requirement to be well capitalized 526,274 10.00 497,511 10.00 Excess 177,605 3.37 185,016 3.72 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Payment Arrangement, 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, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Net income | $ 10,724 | $ 10,556 | $ 7,068 | $ 17,333 | $ 13,923 | $ 11,412 | $ 28,348 | $ 42,668 | |
Divided by: | |||||||||
Weighted average common shares outstanding (in shares) | 28,730 | 28,604 | 28,704 | 28,806 | |||||
Weighted average common stock equivalents (in shares) | 0 | 0 | 0 | 1 | |||||
Total weighted average common shares outstanding and common stock equivalents (in shares) | 28,730 | 28,604 | 28,704 | 28,807 | |||||
Basic earnings per common share (in dollars per share) | $ 0.37 | $ 0.61 | $ 0.99 | $ 1.48 | |||||
Diluted earnings per common share (in dollars per share) | [1] | $ 0.37 | $ 0.61 | $ 0.99 | $ 1.48 | ||||
Dividend payout ratio | 56.80% | 32.80% | 63.60% | 40.50% | |||||
[1] | For the three and nine months ended September 30, 2019 and 2018, there were no common stock equivalents that were anti-dilutive. |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
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 | $ 0 | $ 26,400 | $ 0 | |
Collateralized Mortgage Obligations by Commercial Real Estate [Member] | |||||
Private Issue Collateralized Mortgage Obligations, Number | 0 | 0 | 0 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities held-to-maturity, amortized cost | $ 60,040 | $ 32,018 |
Securities held-to-maturity, fair value | 63,870 | 29,874 |
Securities held-to-maturity, gross unrealized gains | 3,830 | 0 |
Securities held-to-maturity, gross unrealized losses | 0 | 2,144 |
Securities available for sale, amortized cost, total other securities | 831,687 | 845,332 |
Securities available for sale, fair value | 825,475 | 822,655 |
Securities available for sale, gross unrealized gains | 5,831 | 1,454 |
Securities available for sale, gross unrealized losses | 12,043 | 24,131 |
Corporate Debt Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 130,000 | 130,000 |
Securities available for sale, fair value | 120,543 | 118,535 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 9,457 | 11,465 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held-to-maturity, amortized cost | 52,101 | 24,065 |
Securities held-to-maturity, fair value | 55,498 | 22,508 |
Securities held-to-maturity, gross unrealized gains | 3,397 | 0 |
Securities held-to-maturity, gross unrealized losses | 0 | 1,557 |
Securities available for sale, amortized cost, total other securities | 12,849 | 46,231 |
Securities available for sale, fair value | 13,017 | 46,574 |
Securities available for sale, gross unrealized gains | 168 | 343 |
Securities available for sale, gross unrealized losses | 0 | 0 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 52,101 | 24,065 |
Securities held-to-maturity, fair value | 55,498 | 22,508 |
Securities held-to-maturity, gross unrealized gains | 3,397 | 0 |
Securities held-to-maturity, gross unrealized losses | 0 | 1,557 |
Securities available for sale, fair value | 246,465 | 264,702 |
Mutual Fund Debt Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 12,206 | 11,586 |
Securities available for sale, fair value | 12,206 | 11,586 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 0 | 0 |
FNMA [Member] | ||
Securities held-to-maturity, amortized cost | 7,939 | 7,953 |
Securities held-to-maturity, fair value | 8,372 | 7,366 |
Securities held-to-maturity, gross unrealized gains | 433 | 0 |
Securities held-to-maturity, gross unrealized losses | 0 | 587 |
Securities available for sale, amortized cost, total other securities | 106,773 | 94,069 |
Securities available for sale, fair value | 107,383 | 91,693 |
Securities available for sale, gross unrealized gains | 998 | 72 |
Securities available for sale, gross unrealized losses | 388 | 2,448 |
Collateralized Debt Obligations [Member] | ||
Securities available for sale, amortized cost, total other securities | 100,336 | 88,396 |
Securities available for sale, fair value | 99,381 | 86,751 |
Securities available for sale, gross unrealized gains | 5 | 0 |
Securities available for sale, gross unrealized losses | 960 | 1,645 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,939 | 7,953 |
Securities held-to-maturity, fair value | 8,372 | 7,366 |
Securities held-to-maturity, gross unrealized gains | 433 | 0 |
Securities held-to-maturity, gross unrealized losses | 0 | 587 |
Securities available for sale, amortized cost, total other securities | 574,978 | 567,863 |
Securities available for sale, fair value | 579,010 | 557,953 |
Securities available for sale, gross unrealized gains | 5,658 | 1,111 |
Securities available for sale, gross unrealized losses | 1,626 | 11,021 |
Other Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 1,318 | 1,256 |
Securities available for sale, fair value | 1,318 | 1,256 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 0 | 0 |
Available for Sale Securities Excluding Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 256,709 | 277,469 |
Securities available for sale, fair value | 246,465 | 264,702 |
Securities available for sale, gross unrealized gains | 173 | 343 |
Securities available for sale, gross unrealized losses | 10,417 | 13,110 |
REMIC and CMO [Member] | ||
Securities available for sale, amortized cost, total other securities | 390,044 | 382,632 |
Securities available for sale, fair value | 392,525 | 376,340 |
Securities available for sale, gross unrealized gains | 3,604 | 885 |
Securities available for sale, gross unrealized losses | 1,123 | 7,177 |
GNMA [Member] | ||
Securities available for sale, amortized cost, total other securities | 706 | 785 |
Securities available for sale, fair value | 764 | 826 |
Securities available for sale, gross unrealized gains | 58 | 41 |
Securities available for sale, gross unrealized losses | 0 | 0 |
FHLMC [Member] | ||
Securities available for sale, amortized cost, total other securities | 77,455 | 90,377 |
Securities available for sale, fair value | 78,338 | 89,094 |
Securities available for sale, gross unrealized gains | 998 | 113 |
Securities available for sale, gross unrealized losses | $ 115 | $ 1,396 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities Available-for-sale and Held-to-maturity by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities held-to-maturity, amortized cost, due in one year or less | $ 1,180 | |
Securities held-to-maturity, fair value, due in one year or less | 1,180 | |
Securities held-to-maturity, amortized cost, due after ten years | 50,921 | |
Securities held-to-maturity, fair value, due after ten years | 54,318 | |
Securities held-to-maturity, amortized cost | 60,040 | $ 32,018 |
Securities held-to-maturity, fair value | 63,870 | 29,874 |
Securities available for sale, amortized cost, due after one year through five years | 10,000 | |
Securities available for sale, fair value, due after one year through five years | 9,762 | |
Securities available for sale, amortized cost, due after five years through ten years | 137,913 | |
Securities available for sale, fair value, due after five years through ten years | 128,645 | |
Securities available for sale, amortized cost, due after ten years | 96,590 | |
Securities available for sale, fair value, due after ten years | 95,852 | |
Securities available for sale, amortized cost, total other securities | 831,687 | 845,332 |
Securities available for sale | 825,475 | 822,655 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 52,101 | 24,065 |
Securities held-to-maturity, fair value | 55,498 | 22,508 |
Securities available for sale | 246,465 | 264,702 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,939 | 7,953 |
Securities held-to-maturity, fair value | 8,372 | 7,366 |
Securities available for sale, amortized cost, total other securities | 574,978 | 567,863 |
Securities available for sale | 579,010 | 557,953 |
Total Other Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 244,503 | |
Securities available for sale | 234,259 | |
Mutual Fund Debt Securities [Member] | ||
Securities available for sale, amortized cost, total other securities | 12,206 | 11,586 |
Securities available for sale | $ 12,206 | $ 11,586 |
Note 4 - Securities - Available
Note 4 - Securities - Available for Sale Securities With Gross Unrealized Losses and Their Fair Value (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Securities have been in a continuous unrealized loss position, number of positions | 87 | |
Securities have been in a continuous unrealized loss position, fair value | $ 589,648 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 24,131 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 143,932 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 2,845 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 445,716 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 21,286 | |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 61 | 2 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 473,934 | $ 27,306 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 12,043 | 2,144 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 226,622 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 1,740 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 247,312 | 27,306 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 10,303 | $ 2,144 |
Corporate Debt Securities [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 16 | 16 |
Securities have been in a continuous unrealized loss position, fair value | $ 120,543 | $ 118,535 |
Securities have been in a continuous unrealized loss position, unrealized losses | 9,457 | 11,465 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 9,663 | 19,113 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 338 | 888 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 110,880 | 99,422 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 9,119 | $ 10,577 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 3 | |
Securities have been in a continuous unrealized loss position, fair value | $ 4,220 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 0 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 4,220 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 0 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 0 | |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 1 | |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 19,940 | |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 1,557 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 0 | |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 19,940 | |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 1,557 | |
Collateralized Loan Obligations [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 12 | 11 |
Securities have been in a continuous unrealized loss position, fair value | $ 91,916 | $ 86,752 |
Securities have been in a continuous unrealized loss position, unrealized losses | 960 | 1,645 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 63,821 | 86,752 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 485 | 1,645 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 28,095 | 0 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 475 | $ 0 |
Other Debt Obligations [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 30 | |
Securities have been in a continuous unrealized loss position, fair value | $ 209,507 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 13,110 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 110,085 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 2,533 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 99,422 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 10,577 | |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 28 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 212,459 | $ 19,940 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 10,417 | 1,557 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 73,484 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 823 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 138,975 | 19,940 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 9,594 | $ 1,557 |
FNMA [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 14 | |
Securities have been in a continuous unrealized loss position, fair value | $ 85,046 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 2,448 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 6,372 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 17 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 78,674 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 2,431 | |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 7 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 69,075 | $ 7,366 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 388 | 587 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 14,888 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 30 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 54,187 | 7,366 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 358 | $ 587 |
REMIC and CMO [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 25 | 39 |
Securities have been in a continuous unrealized loss position, fair value | $ 157,584 | $ 243,756 |
Securities have been in a continuous unrealized loss position, unrealized losses | 1,123 | 7,177 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 138,250 | 17,308 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 887 | 200 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 19,334 | 226,448 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 236 | $ 6,977 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 57 | |
Securities have been in a continuous unrealized loss position, fair value | $ 380,141 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 11,021 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 33,847 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 312 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 346,294 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 10,709 | |
Held-to-maturity securities have been in a continuous unrealized loss position, number of positions | 33 | 1 |
Held-to-maturity securities have been in a continuous unrealized loss position, fair value | $ 261,475 | $ 7,366 |
Held-to-maturity securities have been in a continuous unrealized loss position, unrealized loss | 1,626 | 587 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, fair value | 153,138 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 917 | 0 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, fair value | 108,337 | 7,366 |
Held-to-maturity securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 709 | $ 587 |
FHLMC [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 1 | 3 |
Securities have been in a continuous unrealized loss position, fair value | $ 34,816 | $ 51,288 |
Securities have been in a continuous unrealized loss position, unrealized losses | 115 | 1,396 |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 0 | 10,116 |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | 95 |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 34,816 | 41,172 |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 115 | $ 1,301 |
GNMA [Member] | ||
Securities have been in a continuous unrealized loss position, number of positions | 1 | |
Securities have been in a continuous unrealized loss position, fair value | $ 51 | |
Securities have been in a continuous unrealized loss position, unrealized losses | 0 | |
Securities have been in a continuous unrealized loss position, less than 12 months, fair value | 51 | |
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses | 0 | |
Securities have been in a continuous unrealized loss position, 12 months or more, fair value | 0 | |
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses | $ 0 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Gross gains from the sale of securities | $ 0 | $ 0 | $ 423 | $ 0 |
Gross losses from the sale of securities | 0 | 0 | (438) | 0 |
Net losses from the sale of securities | $ 0 | $ 0 | $ (15) | $ 0 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Nonaccrual | $ 14,260,000 | $ 14,260,000 | $ 16,253,000 | ||
Extension of Credit [Member] | |||||
Commitments and Contingencies | 67,300,000 | 67,300,000 | |||
Extension of Lines of Credit [Member] | |||||
Commitments and Contingencies | $ 228,500,000 | 228,500,000 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Number of Real Estate Classified as Troubled Debt Restructuring Sold | 1 | 1 | |||
Financing Receivable, Modification, Sold During Period | $ 1,800,000 | ||||
Loss on Sale of Real Estate Classified as Troubled Debt Restructuring | 300,000 | ||||
Multi-family Residential Portfolio Segment [Member] | |||||
Financing Receivable, Modification, Sold During Period | 300,000 | ||||
Gain on Sale of Real Estate Classified as Troubled Debt Restructuring | $ 200,000 | ||||
Taxi Medallion Portfolio Segment [Member] | |||||
Number of Assets Foreclosed on During the Period | 1 | ||||
Taxi Medallion Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||||
Financing Receivable, Nonaccrual | $ 2,200,000 | 2,200,000 | $ 3,900,000 | ||
Taxi Medallion Portfolio Segment [Member] | Other Assets [Member] | |||||
Other Repossessed Assets | $ 35,000 | $ 35,000 | |||
Commercial Business and Other Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||||
Financing Receivable, Nonaccrual | $ 1,000,000 | $ 1,000,000 |
Note 5 - Loans- Loans Modified
Note 5 - Loans- Loans Modified and Classified as TDR (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | |
Number | 3 | 1 |
Balance | $ 951 | $ 1,620 |
Commercial Business and Other [Member] | Extended Maturity [Member] | ||
Number | 3 | 1 |
Balance | $ 951 | $ 1,620 |
Note 5 - Loans - Troubled Debt
Note 5 - Loans - Troubled Debt Restructurings That Are Performing According to Their Restructured Terms (Details) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018 | Dec. 31, 2018USD ($) | ||
Number of contracts | 3 | 1 | ||
Performing Financial Instruments [Member] | ||||
Number of contracts | 25 | 31 | ||
Recorded investment | $ 7,028 | $ 8,365 | ||
Multi-Family Residential [Member] | Performing Financial Instruments [Member] | ||||
Number of contracts | 7 | 7 | ||
Recorded investment | $ 1,883 | $ 1,916 | ||
One-To-Four Family - Mixed Used Property [Member] | Performing Financial Instruments [Member] | ||||
Number of contracts | 4 | 5 | ||
Recorded investment | $ 1,497 | $ 1,692 | ||
One-To-Four Family - Residential [Member] | Performing Financial Instruments [Member] | ||||
Number of contracts | 3 | 3 | ||
Recorded investment | $ 536 | $ 552 | ||
Taxi Medallion Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Number of contracts | [1] | 8 | 15 | |
Recorded investment | [1] | $ 2,161 | $ 3,926 | |
Commercial Business and Other [Member] | Performing Financial Instruments [Member] | ||||
Number of contracts | 3 | 1 | ||
Recorded investment | $ 951 | $ 279 | ||
[1] | Taxi medallion loans in the table above continue to pay as agreed, however the company records interest received on a cash basis. |
Note 5 - Loans - Troubled Deb_2
Note 5 - Loans - Troubled Debt Restructurings That Are Not Performing According to Their Restructured Terms (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019USD ($) | Sep. 30, 2018 | Dec. 31, 2018USD ($) | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 5 | 2 | |||
Recorded investment, not performing | $ 1,046 | $ 1,785 | |||
Multi-family Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 1 | |||
Recorded investment, not performing | $ 0 | $ 388 | |||
Taxi Medallion Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 3 | 0 | |||
Recorded investment, not performing | $ 767 | $ 0 | |||
Commercial Business and Other Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 2 | 1 | |||
Recorded investment, not performing | $ 279 | $ 1,397 |
Note 5 - Loans - Non-performing
Note 5 - Loans - Non-performing Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans ninety days or more past due and still accruing | $ 445 | $ 0 |
Non-accrual loans | 14,260 | 16,253 |
Total non-performing loans | 14,705 | 16,253 |
Mortgage Receivable [Member] | ||
Non-accrual loans | 9,737 | 10,861 |
Non-Mortgage Loans [Member] | ||
Non-accrual loans | 4,523 | 5,392 |
Multi-family Residential Portfolio Segment [Member] | ||
Loans ninety days or more past due and still accruing | 445 | 0 |
Multi-family Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 3,132 | 2,410 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 872 | 1,379 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 683 | 928 |
One-To-Four Family - Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||
Non-accrual loans | 5,050 | 6,144 |
Small Business Administration Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | 1,151 | 1,267 |
Taxi Medallion Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | 1,352 | 613 |
Commercial Business and Other Portfolio Segment [Member] | Non-Mortgage Loans [Member] | ||
Non-accrual loans | $ 2,020 | $ 3,512 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest income that would have been recognized had the loans performed in accordance with their original terms | $ 416 | $ 398 | $ 1,224 | $ 1,194 |
Less: Interest income included in the results of operations | 89 | 173 | 330 | 487 |
Total foregone interest | $ 327 | $ 225 | $ 894 | $ 707 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans, past due | $ 28,783 | $ 22,997 |
Loans, current | 5,721,617 | 5,513,299 |
Total Loans | 5,750,400 | 5,536,296 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 11,386 | 6,913 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 3,553 | 1,740 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 13,844 | 14,344 |
Multi-family Residential Portfolio Segment [Member] | ||
Loans, past due | 6,090 | 4,636 |
Loans, current | 2,226,215 | 2,264,412 |
Total Loans | 2,232,305 | 2,269,048 |
Multi-family Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,112 | 1,887 |
Multi-family Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 1,401 | 339 |
Multi-family Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 3,577 | 2,410 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, past due | 7,756 | 1,758 |
Loans, current | 1,551,825 | 1,540,789 |
Total Loans | 1,559,581 | 1,542,547 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 5,944 | 379 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 940 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 872 | 1,379 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Loans, past due | 2,735 | 2,253 |
Loans, current | 584,365 | 575,488 |
Total Loans | 587,100 | 577,741 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,458 | 1,003 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 869 | 322 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 408 | 928 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Loans, past due | 6,313 | 7,708 |
Loans, current | 178,119 | 182,642 |
Total Loans | 184,432 | 190,350 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,020 | 1,564 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 243 | 0 |
One-To-Four Family - Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 5,050 | 6,144 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Loans, past due | 0 | 0 |
Loans, current | 9,089 | 8,498 |
Total Loans | 9,089 | 8,498 |
Co-Operative Apartments Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Co-Operative Apartments Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Co-Operative Apartments Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Loans, past due | 0 | 730 |
Loans, current | 64,234 | 49,870 |
Total Loans | 64,234 | 50,600 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 730 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Small Business Administration Portfolio Segment [Member] | ||
Loans, past due | 3,000 | 2,109 |
Loans, current | 10,982 | 13,101 |
Total Loans | 13,982 | 15,210 |
Small Business Administration Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,849 | 774 |
Small Business Administration Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 68 |
Small Business Administration Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,151 | 1,267 |
Taxi Medallion Portfolio Segment [Member] | ||
Loans, past due | 766 | 0 |
Loans, current | 2,747 | 4,539 |
Total Loans | 3,513 | 4,539 |
Taxi Medallion Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Taxi Medallion Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Taxi Medallion Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 766 | 0 |
Commercial Business and Other Portfolio Segment [Member] | ||
Loans, past due | 2,123 | 3,803 |
Loans, current | 1,094,041 | 873,960 |
Total Loans | 1,096,164 | 877,763 |
Commercial Business and Other Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 3 | 1,306 |
Commercial Business and Other Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 100 | 281 |
Commercial Business and Other Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | $ 2,020 | $ 2,216 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Beginning balance | $ 21,510 | $ 20,220 | $ 20,945 | $ 20,351 |
Charge-off's | (431) | (220) | (2,683) | (721) |
Recoveries | 273 | 309 | 644 | 526 |
Provision (Benefit) | 683 | 0 | 3,129 | 153 |
Ending balance | 22,035 | 20,309 | 22,035 | 20,309 |
Multi-family Residential Portfolio Segment [Member] | ||||
Beginning balance | 5,506 | 5,538 | 5,676 | 5,823 |
Charge-off's | (189) | (18) | (190) | (99) |
Recoveries | 6 | 0 | 30 | 2 |
Provision (Benefit) | 54 | 37 | (139) | (169) |
Ending balance | 5,377 | 5,557 | 5,377 | 5,557 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning balance | 4,265 | 4,726 | 4,315 | 4,643 |
Charge-off's | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 7 | 0 |
Provision (Benefit) | 99 | (650) | 42 | (567) |
Ending balance | 4,364 | 4,076 | 4,364 | 4,076 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||||
Beginning balance | 1,786 | 2,297 | 1,867 | 2,545 |
Charge-off's | 0 | (3) | (1) | (3) |
Recoveries | 140 | 39 | 228 | 118 |
Provision (Benefit) | (120) | (407) | (288) | (734) |
Ending balance | 1,806 | 1,926 | 1,806 | 1,926 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||||
Beginning balance | 746 | 1,003 | 749 | 1,082 |
Charge-off's | 0 | 0 | (113) | (1) |
Recoveries | 3 | 258 | 10 | 370 |
Provision (Benefit) | (4) | (382) | 99 | (572) |
Ending balance | 745 | 879 | 745 | 879 |
Construction Portfolio Segment [Member] | ||||
Beginning balance | 381 | 264 | 329 | 68 |
Charge-off's | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (Benefit) | 37 | (2) | 89 | 194 |
Ending balance | 418 | 262 | 418 | 262 |
Small Business Administration Portfolio Segment [Member] | ||||
Beginning balance | 382 | 549 | 418 | 669 |
Charge-off's | 0 | (144) | 0 | (196) |
Recoveries | 32 | 10 | 52 | 25 |
Provision (Benefit) | (57) | 138 | (113) | 55 |
Ending balance | 357 | 553 | 357 | 553 |
Taxi Medallion Portfolio Segment [Member] | ||||
Beginning balance | 0 | 0 | 0 | 0 |
Charge-off's | 0 | (40) | 0 | (393) |
Recoveries | 0 | 0 | 134 | 0 |
Provision (Benefit) | 0 | 40 | (134) | 393 |
Ending balance | 0 | 0 | 0 | 0 |
Commercial Business and Other Portfolio Segment [Member] | ||||
Beginning balance | 8,444 | 5,832 | 7,591 | 5,521 |
Charge-off's | (242) | (15) | (2,379) | (29) |
Recoveries | 92 | 2 | 183 | 11 |
Provision (Benefit) | 674 | 1,186 | 3,573 | 1,502 |
Ending balance | $ 8,968 | 7,005 | $ 8,968 | 7,005 |
Unallocated Financing Receivables [Member] | ||||
Beginning balance | 11 | 0 | ||
Charge-off's | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision (Benefit) | 40 | 51 | ||
Ending balance | $ 51 | $ 51 |
Note 5 - Loans - Loans Evaluate
Note 5 - Loans - Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing receivables, ending balance | $ 5,750,400 | $ 5,536,296 |
Ending balance: collectively evaluated for impairment | 5,728,589 | 5,510,777 |
Ending balance: collectively evaluated for impairment | 21,726 | 19,785 |
Multi-family Residential Portfolio Segment [Member] | ||
Financing receivables, ending balance | 2,232,305 | 2,269,048 |
Ending balance: collectively evaluated for impairment | 2,227,110 | 2,264,548 |
Ending balance: collectively evaluated for impairment | 5,283 | 5,576 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables, ending balance | 1,559,581 | 1,542,547 |
Ending balance: collectively evaluated for impairment | 1,558,632 | 1,541,112 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 4,364 | 4,315 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Financing receivables, ending balance | 587,100 | 577,741 |
Ending balance: collectively evaluated for impairment | 584,908 | 574,643 |
Ending balance: collectively evaluated for impairment | 1,755 | 1,724 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Financing receivables, ending balance | 184,432 | 190,350 |
Ending balance: collectively evaluated for impairment | 178,591 | 183,461 |
Ending balance: collectively evaluated for impairment | 697 | 698 |
Co-Operative Apartments Portfolio Segment [Member] | ||
Financing receivables, ending balance | 9,089 | 8,498 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 9,089 | 8,498 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Financing receivables, ending balance | 64,234 | 50,600 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 64,234 | 50,600 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 418 | 329 |
Small Business Administration Portfolio Segment [Member] | ||
Financing receivables, ending balance | 13,982 | 15,210 |
Ending balance: collectively evaluated for impairment | 12,831 | 13,943 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 357 | 418 |
Taxi Medallion Portfolio Segment [Member] | ||
Financing receivables, ending balance | 3,513 | 4,539 |
Ending balance: collectively evaluated for impairment | 0 | 0 |
Ending balance: individually evaluated for impairment | ||
Ending balance: collectively evaluated for impairment | 0 | 0 |
Commercial Business and Other Portfolio Segment [Member] | ||
Financing receivables, ending balance | 1,096,164 | 877,763 |
Ending balance: collectively evaluated for impairment | 1,093,194 | 873,972 |
Ending balance: collectively evaluated for impairment | $ 8,852 | $ 6,725 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Recorded investment, with no related allowance recorded | $ 18,370 | $ 18,370 | $ 18,869 | ||
Unpaid principal balance, with no related allowance recorded | 27,458 | 27,458 | 28,156 | ||
Recorded investment, with an allowance recorded | 3,441 | 3,441 | 6,650 | ||
Unpaid principal balance, with an allowance recorded | 3,441 | 3,441 | 6,650 | ||
Related allowance | 309 | 309 | 1,160 | ||
Loans designated as criticized or classified | 48,540 | 48,540 | 53,030 | ||
Average Recorded Investment, With no related allowance recorded | 18,780 | $ 47,351 | 18,926 | $ 41,870 | |
Interest Income Recognized, With no related allowance recorded | 59 | 713 | 236 | 1,470 | |
Average Recorded Investment, With an allowance recorded | 3,374 | 3,643 | 4,239 | 3,816 | |
Interest Income Recognized, With an allowance recorded | 30 | 42 | 94 | 142 | |
Multi-family Residential Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 5,710 | 5,710 | 6,664 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 10,538 | 10,538 | 4,432 | ||
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 3,004 | 3,004 | 3,233 | ||
One-To-Four Family - Residential Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 6,063 | 6,063 | 7,222 | ||
Construction Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 0 | 0 | 730 | ||
Small Business Administration Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 140 | 140 | 620 | ||
Taxi Medallion Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 3,513 | 3,513 | 4,539 | ||
Commercial Business and Other Portfolio Segment [Member] | |||||
Loans designated as criticized or classified | 19,572 | 19,572 | 25,590 | ||
Mortgage Receivable [Member] | |||||
Related allowance | 193 | 193 | 294 | ||
Loans designated as criticized or classified | 14,177 | 14,177 | 15,922 | ||
Unpaid principal balance, total impaired loans | 14,736 | 14,736 | 16,618 | ||
Average Recorded Investment, Total Impaired Loans | 14,717 | 23,505 | 15,240 | 24,986 | |
Interest Income Recognized, Total Impaired Loans | 57 | 154 | 192 | 522 | |
Mortgage Receivable [Member] | Multi-family Residential Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 3,939 | 3,939 | 3,225 | ||
Unpaid principal balance, with no related allowance recorded | 4,438 | 4,438 | 3,568 | ||
Recorded investment, with an allowance recorded | 1,256 | 1,256 | 1,275 | ||
Unpaid principal balance, with an allowance recorded | 1,256 | 1,256 | 1,275 | ||
Related allowance | 94 | 94 | 100 | ||
Average Recorded Investment, With no related allowance recorded | 3,398 | 4,013 | 3,214 | 4,201 | |
Interest Income Recognized, With no related allowance recorded | 9 | 31 | 27 | 67 | |
Average Recorded Investment, With an allowance recorded | 1,260 | 1,740 | 1,266 | 1,896 | |
Interest Income Recognized, With an allowance recorded | 18 | 19 | 54 | 78 | |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 949 | 949 | 1,435 | ||
Unpaid principal balance, with no related allowance recorded | 949 | 949 | 1,435 | ||
Average Recorded Investment, With no related allowance recorded | 1,252 | 4,587 | 1,259 | 5,300 | |
Interest Income Recognized, With no related allowance recorded | 0 | 50 | 15 | 176 | |
Average Recorded Investment, With an allowance recorded | 0 | 1,206 | |||
Interest Income Recognized, With an allowance recorded | 0 | 39 | |||
Mortgage Receivable [Member] | One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 1,345 | 1,345 | 1,913 | ||
Unpaid principal balance, with no related allowance recorded | 1,347 | 1,347 | 2,113 | ||
Recorded investment, with an allowance recorded | 847 | 847 | 1,185 | ||
Unpaid principal balance, with an allowance recorded | 847 | 847 | 1,185 | ||
Related allowance | 51 | 51 | 143 | ||
Average Recorded Investment, With no related allowance recorded | 1,889 | 3,452 | 1,919 | 3,759 | |
Interest Income Recognized, With no related allowance recorded | 17 | 28 | 51 | 108 | |
Average Recorded Investment, With an allowance recorded | 922 | 1,201 | 1,008 | 407 | |
Interest Income Recognized, With an allowance recorded | 8 | 15 | 28 | 12 | |
Mortgage Receivable [Member] | One-To-Four Family - Residential Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 5,454 | 5,454 | 6,490 | ||
Unpaid principal balance, with no related allowance recorded | 5,512 | 5,512 | 6,643 | ||
Recorded investment, with an allowance recorded | 387 | 387 | 399 | ||
Unpaid principal balance, with an allowance recorded | 387 | 387 | 399 | ||
Related allowance | 48 | 48 | 51 | ||
Average Recorded Investment, With no related allowance recorded | 5,607 | 7,742 | 5,943 | 7,974 | |
Interest Income Recognized, With no related allowance recorded | 1 | 7 | 5 | 32 | |
Average Recorded Investment, With an allowance recorded | 389 | 405 | 393 | 0 | |
Interest Income Recognized, With an allowance recorded | 4 | 4 | 12 | 0 | |
Mortgage Receivable [Member] | Construction Portfolio Segment [Member] | |||||
Average Recorded Investment, With no related allowance recorded | 0 | 365 | 238 | 243 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | 0 | 10 | |
Non-Mortgage Loans [Member] | |||||
Related allowance | 116 | 116 | 866 | ||
Loans designated as criticized or classified | 7,634 | 7,634 | 9,597 | ||
Unpaid principal balance, total impaired loans | 16,163 | 16,163 | 18,188 | ||
Average Recorded Investment, Total Impaired Loans | 7,437 | 27,489 | 7,925 | 20,700 | |
Interest Income Recognized, Total Impaired Loans | 32 | 601 | 138 | 1,090 | |
Non-Mortgage Loans [Member] | Small Business Administration Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 1,151 | 1,151 | 1,267 | ||
Unpaid principal balance, with no related allowance recorded | 1,421 | 1,421 | 1,609 | ||
Average Recorded Investment, With no related allowance recorded | 1,188 | 739 | 1,217 | 526 | |
Interest Income Recognized, With no related allowance recorded | 0 | 31 | 0 | 33 | |
Non-Mortgage Loans [Member] | Taxi Medallion Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 3,513 | 3,513 | 4,539 | ||
Unpaid principal balance, with no related allowance recorded | 9,731 | 9,731 | 12,788 | ||
Average Recorded Investment, With no related allowance recorded | 3,534 | 6,152 | 3,875 | 6,307 | |
Interest Income Recognized, With no related allowance recorded | 32 | 84 | 138 | 252 | |
Non-Mortgage Loans [Member] | Commercial Business and Other Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance recorded | 2,019 | 2,019 | 0 | ||
Unpaid principal balance, with no related allowance recorded | 4,060 | 4,060 | 0 | ||
Recorded investment, with an allowance recorded | 951 | 951 | 3,791 | ||
Unpaid principal balance, with an allowance recorded | 951 | 951 | 3,791 | ||
Related allowance | 116 | 116 | $ 866 | ||
Average Recorded Investment, With no related allowance recorded | 1,912 | 20,301 | 1,261 | 13,560 | |
Interest Income Recognized, With no related allowance recorded | 0 | 482 | 0 | 792 | |
Average Recorded Investment, With an allowance recorded | 803 | 297 | 1,572 | 307 | |
Interest Income Recognized, With an allowance recorded | $ 0 | $ 4 | $ 0 | $ 13 |
Note 5 - Loans - Loans Designat
Note 5 - Loans - Loans Designated as Criticized or Classified (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans designated as criticized or classified | $ 48,540 | $ 53,030 |
Special Mention [Member] | ||
Loans designated as criticized or classified | 17,490 | 6,576 |
Substandard [Member] | ||
Loans designated as criticized or classified | 30,609 | 42,942 |
Doubtful [Member] | ||
Loans designated as criticized or classified | 441 | 3,512 |
Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Multi-family Residential Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 5,710 | 6,664 |
Multi-family Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 1,954 | 2,498 |
Multi-family Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 3,756 | 4,166 |
Multi-family Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Multi-family Residential Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 10,538 | 4,432 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 8,999 | 381 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 1,539 | 4,051 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 3,004 | 3,233 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 1,789 | 1,199 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 1,215 | 2,034 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
One-To-Four Family - Residential Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 6,063 | 7,222 |
One-To-Four Family - Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 295 | 557 |
One-To-Four Family - Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 5,768 | 6,665 |
One-To-Four Family - Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
One-To-Four Family - Residential Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 0 | 730 |
Construction Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 0 | 730 |
Construction Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Construction Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Small Business Administration Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 140 | 620 |
Small Business Administration Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 55 | 481 |
Small Business Administration Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 85 | 139 |
Small Business Administration Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Small Business Administration Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Taxi Medallion Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 3,513 | 4,539 |
Taxi Medallion Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Taxi Medallion Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 3,513 | 4,539 |
Taxi Medallion Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Taxi Medallion Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | 0 | 0 |
Commercial Business and Other Portfolio Segment [Member] | ||
Loans designated as criticized or classified | 19,572 | 25,590 |
Commercial Business and Other Portfolio Segment [Member] | Special Mention [Member] | ||
Loans designated as criticized or classified | 4,398 | 730 |
Commercial Business and Other Portfolio Segment [Member] | Substandard [Member] | ||
Loans designated as criticized or classified | 14,733 | 21,348 |
Commercial Business and Other Portfolio Segment [Member] | Doubtful [Member] | ||
Loans designated as criticized or classified | 441 | 3,512 |
Commercial Business and Other Portfolio Segment [Member] | Loss [Member] | ||
Loans designated as criticized or classified | $ 0 | $ 0 |
Note 6 - Loans Held for Sale (D
Note 6 - Loans Held for Sale (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
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, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | |
Nonperforming Financial Instruments [Member] | ||||
Loans sold | 2 | 6 | 5 | 12 |
Proceeds | $ 3,948 | $ 4,210 | $ 5,118 | $ 8,739 |
Net recoveries (charge-offs) | 0 | 68 | (1) | 68 |
Net gain (loss) | $ 204 | $ 10 | $ 267 | $ (225) |
Nonperforming Financial Instruments [Member] | Multi-family Residential Portfolio Segment [Member] | ||||
Loans sold | 1 | 1 | 3 | 4 |
Proceeds | $ 700 | $ 595 | $ 1,465 | $ 1,559 |
Net recoveries (charge-offs) | 0 | 0 | 0 | 0 |
Net gain (loss) | $ 204 | $ 0 | $ 267 | $ 0 |
Nonperforming Financial Instruments [Member] | Commercial Business and Other Portfolio Segment [Member] | ||||
Loans sold | 1 | 1 | ||
Proceeds | $ 3,248 | $ 3,248 | ||
Net recoveries (charge-offs) | 0 | $ 0 | ||
Net gain (loss) | $ 0 | |||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Loans sold | 1 | 4 | ||
Proceeds | $ 2,500 | $ 6,065 | ||
Net recoveries (charge-offs) | 0 | 0 | ||
Net gain (loss) | $ 0 | $ (235) | ||
Nonperforming Financial Instruments [Member] | One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | ||||
Loans sold | 2 | 1 | 2 | |
Proceeds | $ 725 | $ 405 | $ 725 | |
Net recoveries (charge-offs) | (4) | (1) | (4) | |
Net gain (loss) | $ 0 | $ 0 | $ 0 | |
Nonperforming Financial Instruments [Member] | One-To-Four Family - Residential Portfolio Segment [Member] | ||||
Loans sold | 2 | 2 | ||
Proceeds | $ 390 | $ 390 | ||
Net recoveries (charge-offs) | 72 | 72 | ||
Net gain (loss) | $ 10 | $ 10 | ||
Performing Financial Instruments [Member] | ||||
Loans sold | 3 | 9 | ||
Proceeds | $ 2,069 | $ 5,671 | ||
Net (charge-offs) recoveries | 0 | 0 | ||
Net gain (loss) | $ 114 | $ 393 | ||
Performing Financial Instruments [Member] | Small Business Administration Portfolio Segment [Member] | ||||
Loans sold | 3 | |||
Proceeds | $ 2,069 | |||
Net (charge-offs) recoveries | 0 | |||
Net gain (loss) | $ 114 |
Note 7 - Other Real Estate Ow_3
Note 7 - Other Real Estate Owned (Details Textual) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Consumer Portfolio Segment [Member] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 6.5 | $ 7.2 |
Note 7 - Other Real Estate Ow_4
Note 7 - Other Real Estate Owned - Changes in Other Real Estate Owned ("OREO") (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance at beginning of period | $ 239 | $ 0 | $ 0 | $ 0 |
Acquisitions | 0 | 0 | 239 | 638 |
Sales | 0 | 0 | 0 | (638) |
Balance at end of period | $ 239 | $ 0 | $ 239 | $ 0 |
Note 7 - Other Real Estate Ow_5
Note 7 - Other Real Estate Owned - Gross Gains, Gross Losses and Write-downs of OREO (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Gross gains | $ 0 | $ 0 | $ 0 | $ 27 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Short-term Lease, Cost | $ 34,000 | $ 102,000 |
Variable Lease, Payment | $ 200,000 | $ 600,000 |
Operating Lease, Weighted Average Discount Rate, Percent | 3.80% | 3.80% |
Professional Services [Member] | ||
Short-term Lease, Cost | $ 34,000 | $ 102,000 |
Minimum [Member] | ||
Lessee, Operating Lease, Term of Contract | 5 months | 5 months |
Maximum [Member] | ||
Lessee, Operating Lease, Term of Contract | 13 years | 13 years |
Branches and Office Space [Member] | ||
Number of Leases | 20 | 20 |
Vehicles [Member] | ||
Number of Leases | 9 | 9 |
Equipment [Member] | ||
Number of Leases | 1 | 1 |
Note 8 - Leases - Leases (Detai
Note 8 - Leases - Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Right of Use Asset | $ 42,400 | $ 42,400 | $ 0 |
Operating lease liability | 50,626 | 50,626 | $ 0 |
Operating lease cost | 1,891 | 5,676 | |
Short-term lease cost | 34 | 102 | |
Variable lease cost | 267 | 757 | |
Total lease cost | 2,192 | 6,535 | |
Operating cash flows from operating leases | 2,002 | 6,052 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 1,253 | $ 1,295 | |
Weighted-average remaining lease term-operating leases (Year) | 7 years 8 months 12 days | 7 years 8 months 12 days | |
Weighted average discount rate-operating leases | 3.80% | 3.80% |
Note 8 - Leases - Lease Obligat
Note 8 - Leases - Lease Obligations, Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
2019 | $ 1,694 | |
2020 | 8,397 | |
2021 | 7,644 | |
2022 | 7,229 | |
2023 | 7,366 | |
Thereafter | 26,378 | |
Total minimum payments required | 58,708 | |
Less: implied interest | 8,082 | |
Operating lease liability | $ 50,626 | $ 0 |
Note 9 - Stock-based Compensa_3
Note 9 - Stock-based Compensation (Details Textual) - USD ($) | Jan. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 |
Share-based Payment Arrangement, Expense | $ 1,200,000 | $ 1,100,000 | $ 6,500,000 | $ 5,700,000 | ||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 200,000 | $ 200,000 | $ 1,500,000 | $ 1,200,000 | ||
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, Outstanding, Number, Ending Balance | 0 | 0 | 0 | |||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | 263,574 | 280,590 | ||
Performance-based Restricted Stock Units [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 8,260 | 66,130 | ||||
Omnibus Plan 2014 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Omnibus Plan 2014 [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 8,300,000 | $ 8,300,000 | $ 8,300,000 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 9 months 18 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 700,000 | $ 200,000 | $ 6,900,000 | $ 7,000,000 | ||
The 2019 Long-term Incentive Compensation Program [Member] | ||||||
PRSU Awards, Percentage of Target Award, Below Threshold-level Performance | 0.00% | |||||
PRSU Awards, Percentage of Target Award, Threshold-level Performance | 50.00% | |||||
PRSU Awards, Percentage of Target Award, Target-Level Performance | 100.00% | |||||
PRSU Awards, Percentage of Target Award, Maximum-Level Performance | 150.00% | |||||
Phantom Stock Plan [Member] | Phantom Share Units (PSUs) [Member] | ||||||
Share-based Payment Arrangement, Expense | 200,000 | $ 100,000 | 100,000 | 200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 1,000 | $ 23,000 | $ 2,000 |
Note 9 - Stock-based Compensa_4
Note 9 - Stock-based Compensation - Restricted Stock Units (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Restricted Stock Units (RSUs) [Member] | ||||
Non-vested RSU's, beginning balance (in shares) | 502,658 | |||
Non-vested RSU's, weighted-average grant-date fair value, beginning balance (in dollars per share) | $ 24.93 | |||
Granted RSU's (in shares) | 0 | 0 | 263,574 | 280,590 |
Granted RSU's, weighted-average grant-date fair value (in dollars per share) | $ 22.38 | |||
Vested RSU's (in shares) | (279,187) | |||
Vested RSU's, weighted-average grant-date fair value (in dollars per share) | $ 23.39 | |||
Forfeited RSU's (in shares) | (26,160) | |||
Forfeited RSU's, weighted-average grant-date fair value (in dollars per share) | $ 24.85 | |||
Non-vested at September 30, 2019 (in shares) | 460,885 | 460,885 | ||
Non-vested at September 30, 2019 (in dollars per share) | $ 24.41 | $ 24.41 | ||
Vested but unissued at September 30, 2019 (in shares) | 229,352 | 229,352 | ||
Vested but unissued at September 30, 2019 (in dollars per share) | $ 24.67 | $ 24.67 | ||
Performance-based Restricted Stock Units [Member] | ||||
Non-vested RSU's, beginning balance (in shares) | 0 | |||
Non-vested RSU's, weighted-average grant-date fair value, beginning balance (in dollars per share) | $ 0 | |||
Granted RSU's (in shares) | 8,260 | 66,130 | ||
Granted RSU's, weighted-average grant-date fair value (in dollars per share) | $ 22.38 | |||
Vested RSU's (in shares) | (30,491) | |||
Vested RSU's, weighted-average grant-date fair value (in dollars per share) | $ 22.38 | |||
Forfeited RSU's (in shares) | 0 | |||
Forfeited RSU's, weighted-average grant-date fair value (in dollars per share) | $ 0 | |||
Non-vested at September 30, 2019 (in shares) | 35,639 | 35,639 | ||
Non-vested at September 30, 2019 (in dollars per share) | $ 22.38 | $ 22.38 | ||
Vested but unissued at September 30, 2019 (in shares) | 24,691 | 24,691 | ||
Vested but unissued at September 30, 2019 (in dollars per share) | $ 22.38 | $ 22.38 |
Note 9 - Stock-based Compensa_5
Note 9 - Stock-based Compensation - Phantom Stock Plan (Details) - Phantom Share Units (PSUs) [Member] - Phantom Stock Plan [Member] | 9 Months Ended |
Sep. 30, 2019$ / sharesshares | |
Outstanding, beginning balance (in shares) | shares | 99,313 |
Outstanding, beginning balance (in dollars per share) | $ / shares | $ 21.53 |
Granted (in shares) | shares | 10,278 |
Granted (in dollars per share) | $ / shares | $ 21.97 |
Distributions (in shares) | shares | (1,055) |
Distributions (in dollars per share) | $ / shares | $ 21.91 |
Outstanding, ending balance (in shares) | shares | 108,536 |
Outstanding, ending (in dollars per share) | $ / shares | $ 20.20 |
Vested at September 30, 2019 (in shares) | shares | 108,228 |
Vested at September 30, 2019 (in dollars per share) | $ / shares | $ 20.20 |
Note 10 - Pension and Other P_3
Note 10 - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Directors' Plan [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 300,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 108,000 | |
Other Postretirement Benefit Plans [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 300,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 54,000 | |
Retirement Plan [Member] | Savings Bank [Member] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 0 |
Note 10 - Pension and Other P_4
Note 10 - 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Employee Pension Plan [Member] | ||||
Net employee pension benefit | $ (5) | $ (13) | $ (18) | $ (39) |
Employee Pension Plan [Member] | ||||
Interest cost | 199 | 195 | 597 | 585 |
Amortization of unrecognized loss | 68 | 155 | 201 | 465 |
Expected return on plan assets | (272) | (363) | (816) | (1,089) |
Directors' Plan [Member] | ||||
Interest cost | 21 | 19 | 63 | 60 |
Amortization of unrecognized loss | (35) | (23) | (105) | (69) |
Net employee pension benefit | (4) | 10 | (12) | 33 |
Service cost | 10 | 11 | 30 | 33 |
Amortization of past service liability | 0 | 3 | 0 | 9 |
Other Postretirement Benefit Plans [Member] | ||||
Interest cost | 85 | 77 | 255 | 231 |
Net employee pension benefit | 133 | 152 | 401 | 458 |
Service cost | 70 | 88 | 210 | 264 |
Amortization of past service liability | $ (22) | $ (13) | $ (64) | $ (37) |
Note 11 - Fair Value of Finan_3
Note 11 - Fair Value of Financial Instruments (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Financial Assets at Fair Value Option | $ 14,300 | $ 14,300 | $ 13,800 | ||
Financial Liabilities at Fair Value Option | 43,900 | 43,900 | 41,800 | ||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (2,124) | $ (170) | (6,160) | $ (537) | |
Financial Liabilites at Fair Value Option Contractual Principal | 61,900 | 61,900 | |||
Financial Liabilities at Fair Value Option Accrued Interest Payable | $ 200 | $ 200 | |||
Appraised Value of Property [Member] | |||||
Collateral Dependent Loans Measurement Input | 0.85 | 0.85 | |||
Fair Value, 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) | $ (1,600) | $ 500 | $ (4,300) | $ 2,900 |
Note 11 - Fair Value of Finan_4
Note 11 - 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Financial Assets at Fair Value Option | $ 14,300 | $ 14,300 | $ 13,800 | |||
Net loss from fair value adjustments | (2,124) | $ (170) | (6,160) | $ (537) | ||
Collateralized Mortgage Backed Securities [Member] | ||||||
Financial Assets at Fair Value Option | 812 | 812 | 967 | |||
Net loss from fair value adjustments | 0 | (6) | 2 | (17) | ||
Other Securities [Member] | ||||||
Financial Assets at Fair Value Option | 13,524 | 13,524 | 12,843 | |||
Net loss from fair value adjustments | 107 | (72) | 470 | (272) | ||
Junior Subordinated Debentures [Member] | ||||||
Financial Assets at Fair Value Option | 43,910 | 43,910 | $ 41,849 | |||
Net loss from fair value adjustments | (599) | (607) | (2,353) | (3,155) | ||
Financial Assets and Liabilities, Excluding Interest Rate Caps / Swaps [Member] | ||||||
Net loss from fair value adjustments | [1],[2] | $ (492) | $ (685) | $ (1,881) | $ (3,444) | |
[1] | The net loss from fair value adjustments presented in the above table does not include net (losses) gains of ($1.6) million and $0.5 million for the three months ended September 30, 2019 and 2018, 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 (losses) gains of ($2.6) million and $2.9 million for the nine months ended September 30, 2019 and 2018, respectively, from the change in the fair value of interest rate swaps. |
Note 11 - Fair Value of Finan_5
Note 11 - Fair Value of Financial Instruments - Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets: | ||
Securities available for sale, fair value | $ 825,475 | $ 822,655 |
Fair Value, Recurring [Member] | ||
Assets: | ||
Total assets | 825,631 | 838,616 |
Liabilities: | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 74,898 | 44,088 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Total assets | 12,206 | 11,586 |
Liabilities: | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Total assets | 812,107 | 825,774 |
Liabilities: | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 30,988 | 2,239 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Total assets | 1,318 | 1,256 |
Liabilities: | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 43,910 | 41,849 |
Collateralized Mortgage Backed Securities [Member] | ||
Assets: | ||
Securities available for sale, fair value | 579,010 | 557,953 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Assets: | ||
Securities available for sale, fair value | 579,010 | 557,953 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 579,010 | 557,953 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 0 | 0 |
Other Securities [Member] | ||
Assets: | ||
Securities available for sale, fair value | 1,318 | 1,256 |
Other Securities [Member] | Fair Value, Recurring [Member] | ||
Assets: | ||
Securities available for sale, fair value | 246,465 | 264,702 |
Other Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 12,206 | 11,586 |
Other Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 232,941 | 251,860 |
Other Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Securities available for sale, fair value | 1,318 | 1,256 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | ||
Assets: | ||
Interest Rate Swaps, Net Amount | 156 | 15,961 |
Liabilities: | ||
Interest Rate Swaps, Net Amount | 30,988 | 2,239 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Liabilities: | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Interest Rate Swaps, Net Amount | 156 | 15,961 |
Liabilities: | ||
Interest Rate Swaps, Net Amount | 30,988 | 2,239 |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Liabilities: | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Junior Subordinated Debentures [Member] | Fair Value, Recurring [Member] | ||
Liabilities: | ||
Borrowings | 43,910 | 41,849 |
Junior Subordinated Debentures [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Liabilities: | ||
Borrowings | 0 | 0 |
Junior Subordinated Debentures [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Liabilities: | ||
Borrowings | 0 | 0 |
Junior Subordinated Debentures [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Liabilities: | ||
Borrowings | $ 43,910 | $ 41,849 |
Note 11 - Fair Value of Finan_6
Note 11 - 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Trust Preferred Securities [Member] | |||||
Beginning balance | $ 1,303 | $ 1,188 | $ 1,256 | $ 1,110 | |
Net gain from fair value adjustment of financial assets | [1] | 15 | 17 | 64 | 94 |
Net loss from fair value adjustment of financial liabilities | [1] | 0 | 0 | 0 | 0 |
Decrease (increase) in accrued interest payable | 0 | 0 | (2) | 0 | |
Change in unrealized gains included in other comprehensive income | 0 | 0 | 0 | 0 | |
Ending balance | 1,318 | 1,205 | 1,318 | 1,205 | |
Changes in unrealized gains held at period end | 0 | 0 | 0 | 0 | |
Increase in accrued interest receivable | 0 | 1 | |||
Junior Subordinated Debentures [Member] | |||||
Beginning balance | 43,414 | 39,566 | 41,849 | 36,986 | |
Net gain from fair value adjustment of financial assets | [1] | 0 | 0 | 0 | 0 |
Net loss from fair value adjustment of financial liabilities | [1] | 599 | 607 | 2,353 | 3,155 |
Decrease (increase) in accrued interest payable | (15) | (9) | (27) | 42 | |
Change in unrealized gains included in other comprehensive income | (88) | (13) | (265) | (32) | |
Ending balance | 43,910 | 40,151 | 43,910 | 40,151 | |
Changes in unrealized gains held at period end | $ 1,513 | $ 1,164 | 1,513 | 1,164 | |
Increase in accrued interest receivable | $ 0 | $ 0 | |||
[1] | Totals in the table above are presented in the Consolidated Statement of Income under net loss from fair value adjustments. |
Note 11 - Fair Value of Finan_7
Note 11 - Fair Value of Financial Instruments - Quantitative Information About Recurring Level 3 Fair Value of Financial Instruments (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Securities available for sale, fair value | $ 825,475 | $ 822,655 |
Valuation Technique, Discounted Cash Flow [Member] | Junior Subordinated Debentures [Member] | ||
Borrowings | $ 43,910 | $ 41,849 |
Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | Junior Subordinated Debentures [Member] | ||
Liabilities, Weighted average | 0.042 | 0.049 |
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Securities available for sale, fair value | $ 1,318 | $ 1,256 |
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | ||
Assets, Weighted average | 0.042 | 0.049 |
Note 11 - Fair Value of Finan_8
Note 11 - 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, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Impaired loans | $ 778 | $ 4,111 |
Other repossesed assets | 239 | 35 |
Total assets | 1,017 | 4,146 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Other repossesed assets | 0 | 0 |
Total assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Other repossesed assets | 0 | 0 |
Total assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 778 | 4,111 |
Other repossesed assets | 239 | 35 |
Total assets | $ 1,017 | $ 4,146 |
Note 11 - Fair Value of Finan_9
Note 11 - 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, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Other real estate owned | $ 239 | $ 239 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value, Nonrecurring [Member] | ||||||
Impaired loans | 778 | 4,111 | ||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | ||||||
Impaired loans | 2,724 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | ||||||
Impaired loans | $ 149 | |||||
Impaired loans, Measurement Input | 0.150 | |||||
Other repossessed assets | $ 35 | |||||
Other repossessed assets, Measurement Input | 0 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Minimum [Member] | ||||||
Impaired loans, Measurement Input | (0.365) | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Maximum [Member] | ||||||
Impaired loans, Measurement Input | 0.150 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member] | ||||||
Impaired loans, Measurement Input | 0.104 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | ||||||
Impaired loans, Measurement Input | 0 | |||||
Other real estate owned | $ 239 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||||||
Other real estate owned, Measurement Input | 0.005 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||||||
Other real estate owned, Measurement Input | 0.125 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member] | ||||||
Other real estate owned, Measurement Input | 0.065 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Measurement Input, Loss Severity [Member] | ||||||
Impaired loans, Measurement Input | 0.150 | |||||
Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | ||||||
Impaired loans | $ 204 | |||||
Impaired loans, Measurement Input | 0.085 | |||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | ||||||
Impaired loans | $ 1,183 | |||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Loss Severity [Member] | ||||||
Impaired loans, Measurement Input | 0.150 | 0.150 | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Minimum [Member] | ||||||
Impaired loans, Measurement Input | 0.090 | 0.074 | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Maximum [Member] | ||||||
Impaired loans, Measurement Input | 0.095 | 0.098 | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Cap Rate [Member] | Weighted Average [Member] | ||||||
Impaired loans, Measurement Input | 0.092 | 0.087 | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | ||||||
Impaired loans | $ 629 | |||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||||||
Impaired loans, Measurement Input | (0.150) | (0.300) | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||||||
Impaired loans, Measurement Input | 0.150 | 0.100 | ||||
Fair Value, Nonrecurring [Member] | Blended Income and Sales Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member] | ||||||
Impaired loans, Measurement Input | (0.037) | (0.078) |
Note 11 - Fair Value of Fina_10
Note 11 - Fair Value of Financial Instruments - Carrying Amounts and Estimated Fair Values of Selected Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities held-to-maturity, amortized cost | $ 60,040 | $ 32,018 |
Securities available for sale, fair value | 825,475 | 822,655 |
Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 156 | 1,001 |
Interest rate swaps | (82) | 2,239 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,939 | 7,953 |
Securities available for sale, fair value | 579,010 | 557,953 |
Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 52,101 | 24,065 |
Securities available for sale, fair value | 246,465 | 264,702 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 86,989 | 118,561 |
Loans | 5,765,763 | 5,551,484 |
FHLB-NY stock | 65,280 | 57,282 |
Accrued interest receivable | 26,566 | 25,485 |
Deposits | 4,974,312 | 4,960,784 |
Borrowings | 1,422,440 | 1,250,843 |
Accrued interest payable | 8,284 | 5,890 |
Reported Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 156 | 15,961 |
Interest rate swaps | 30,988 | 2,239 |
Reported Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 7,939 | 7,953 |
Securities available for sale, fair value | 579,010 | 557,953 |
Reported Value Measurement [Member] | Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 52,101 | 24,065 |
Securities available for sale, fair value | 246,465 | 264,702 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 86,989 | 118,561 |
Loans | 5,809,209 | 5,496,266 |
FHLB-NY stock | 65,280 | 57,282 |
Accrued interest receivable | 26,566 | 25,485 |
Deposits | 4,979,324 | 4,955,077 |
Borrowings | 1,628,483 | 1,241,745 |
Accrued interest payable | 8,284 | 5,890 |
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 156 | 15,961 |
Interest rate swaps | 30,988 | 2,239 |
Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 8,372 | 7,366 |
Securities available for sale, fair value | 579,010 | 557,953 |
Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 55,498 | 22,508 |
Securities available for sale, fair value | 246,465 | 264,702 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 86,989 | 118,561 |
Loans | 0 | 0 |
FHLB-NY stock | 0 | 0 |
Accrued interest receivable | 12 | 54 |
Deposits | 3,467,936 | 3,397,474 |
Borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Interest rate swaps | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 0 | 0 |
Securities available for sale, fair value | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 0 | 0 |
Securities available for sale, fair value | 12,206 | 11,586 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Loans | 0 | 0 |
FHLB-NY stock | 65,280 | 57,282 |
Accrued interest receivable | 2,767 | 2,756 |
Deposits | 1,511,388 | 1,557,603 |
Borrowings | 1,584,573 | 1,199,896 |
Accrued interest payable | 8,284 | 5,890 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 156 | 15,961 |
Interest rate swaps | 30,988 | 2,239 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 8,372 | 7,366 |
Securities available for sale, fair value | 579,010 | 557,953 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 0 | 0 |
Securities available for sale, fair value | 232,941 | 251,860 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Loans | 5,809,209 | 5,496,266 |
FHLB-NY stock | 0 | 0 |
Accrued interest receivable | 23,787 | 22,675 |
Deposits | 0 | 0 |
Borrowings | 43,910 | 41,849 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest Rate Swaps, Net Amount | 0 | 0 |
Interest rate swaps | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities held-to-maturity, amortized cost | 0 | 0 |
Securities available for sale, fair value | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | ||
Securities held-to-maturity, amortized cost | 55,498 | 22,508 |
Securities available for sale, fair value | $ 1,318 | $ 1,256 |
Note 12 - Derivative Financia_3
Note 12 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Junior Subordinated Notes, Total | $ 43,910 | $ 43,910 | $ 41,849 | ||
Derivative Asset, Notional Amount | 896,752 | 896,752 | 745,619 | ||
Short-term Debt, Total | 541,500 | 541,500 | 441,500 | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | 400 | $ 100 | 1,300 | $ 200 | |
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 | 318,900 | 318,900 | 267,800 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Asset, Notional Amount | 541,500 | 541,500 | 441,500 | ||
Interest Rate Swap [Member] | |||||
Derivative Asset, Notional Amount | 337,300 | 337,300 | 286,100 | ||
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 12 - Derivative Financia_4
Note 12 - Derivative Financial Instruments - Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Interest rate swaps, notional amount | $ 896,752 | $ 745,619 | |
Interest rate swaps, net carrying value | [1] | (30,832) | 13,722 |
Designated as Hedging Instrument [Member] | |||
Interest rate swaps, notional amount | 318,900 | 267,800 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||
Interest rate swaps, notional amount | 541,500 | 441,500 | |
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 | 50,463 | 248,330 | |
Interest rate swaps, net carrying value | [1] | 156 | 10,593 |
Interest Rate Swaps 1 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||
Interest rate swaps, notional amount | 0 | 441,500 | |
Interest rate swaps, net carrying value | [1] | 0 | 5,368 |
Interest Rate Swaps 2 [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||
Interest rate swaps, notional amount | 268,468 | 19,468 | |
Interest rate swaps, net carrying value | [1] | (13,277) | (502) |
Interest Rate Swaps 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||
Interest rate swaps, notional amount | 541,500 | 0 | |
Interest rate swaps, net carrying value | [1] | (11,695) | 0 |
Interest Rate Swap [Member] | |||
Interest rate swaps, notional amount | 337,300 | 286,100 | |
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] | $ (6,016) | $ (1,737) |
[1] | Derivatives in a positive position are recorded as "Other assets" and derivatives in a negative position are recorded as "Other liabilities" in the Consolidated Statements of Financial Condition. |
Note 12 - Derivative Financia_5
Note 12 - 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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Net gain (loss) | $ (2,894) | $ 515 | $ (6,996) | $ 2,907 | |
Not Designated as Hedging Instrument [Member] | |||||
Net gain (loss) | [1] | (1,632) | 668 | (4,279) | 2,382 |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||||
Net gain (loss) | [2] | $ (1,262) | $ (153) | $ (2,717) | $ 525 |
[1] | Net gains and losses are recorded as part of "Net gain/loss from fair value adjustments" in the Consolidated Statements of Income. | ||||
[2] | Net gains and losses recorded during the three and nine months ended September 30, 2019, are recorded as part of "Interests and fees on loans" in the Consolidated Statements of Income. Net gains and losses recorded during the three and nine months ended September 30, 2018, are recorded as part of "Net gain/loss from fair value adjustments" in the Consolidated Statements of Income. |
Note 12 - Derivative Financia_6
Note 12 - 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, 2019 | Dec. 31, 2018 |
Interest Rate Swaps, Gross Amount of Recognized Assets | $ 156 | $ 15,961 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition | 0 | 0 |
Interest Rate Swaps, Net Amount of Assets Presented in the Statement of Condition | 156 | 15,961 |
Interest Rate Swaps, Financial Instruments | 0 | 0 |
Interest Rate Swaps, Cash Collateral Received | 0 | 14,960 |
Interest Rate Swaps, Net Amount | 156 | 1,001 |
Interest Rate Swaps, Gross Amount of Recognized Liabilities | 30,988 | 2,239 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition | 0 | |
Interest Rate Swaps, Net Amount of Liabilities Presented in the Statement of Condition | 30,988 | 2,239 |
Interest Rate Swaps, Financial Instruments | 31,070 | 0 |
Interest Rate Swaps, Cash Collateral Received | 0 | 0 |
Interest Rate Swaps, Net Amount | $ (82) | 2,239 |
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition | $ 0 |
Note 13 - Income Taxes - Income
Note 13 - Income Taxes - Income Tax Provisions (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Federal: | ||||
Federal tax provision, current | $ 3,578 | $ 2,899 | $ 9,354 | $ 9,064 |
Federal tax provision, deferred | (1,121) | (592) | (1,973) | (839) |
Total federal tax provision | 2,457 | 2,307 | 7,381 | 8,225 |
State and Local: | ||||
State and local tax provision, current | 1,345 | 33 | 2,518 | 1,722 |
State and local tax provision, deferred | (1,266) | (430) | (1,804) | (598) |
Total state and local tax provision | 79 | (397) | 714 | 1,124 |
Total income tax provision | $ 2,536 | $ 1,910 | $ 8,095 | $ 9,349 |
Note 14 - Accumulated Other C_3
Note 14 - 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, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 565,390 | $ 559,559 | $ 549,464 | $ 538,044 | $ 535,307 | $ 532,608 | $ 549,464 | $ 532,608 |
Total other comprehensive loss, net of tax | (2,353) | (74) | 2,210 | (1,542) | (832) | (895) | (217) | (3,269) |
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 0 | |||||||
Impact of adoption of Accounting Standard Update 2016-01 | 0 | 0 | ||||||
Balance | 568,392 | 565,390 | 559,559 | 541,756 | 538,044 | 535,307 | 568,392 | 541,756 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||||||
Balance | (3,815) | (15,649) | (16,501) | (5,522) | (15,649) | (5,522) | ||
Other comprehensive income before reclassifications, net of tax | (475) | (3,505) | 11,349 | (13,159) | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | 0 | 10 | 0 | |||||
Total other comprehensive loss, net of tax | (475) | (3,505) | 11,359 | (13,159) | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | (1,325) | |||||||
Impact of adoption of Accounting Standard Update 2016-01 | 0 | |||||||
Balance | (4,290) | (3,815) | (20,006) | (16,501) | (4,290) | (20,006) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||||||
Balance | (6,132) | 3,704 | 8,027 | 231 | 3,704 | 231 | ||
Other comprehensive income before reclassifications, net of tax | (1,664) | 1,950 | (10,914) | 9,455 | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (282) | (80) | (868) | 161 | ||||
Total other comprehensive loss, net of tax | (1,946) | 1,870 | (11,782) | 9,616 | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 50 | |||||||
Impact of adoption of Accounting Standard Update 2016-01 | 0 | |||||||
Balance | (8,078) | (6,132) | 9,897 | 8,027 | (8,078) | 9,897 | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||
Balance | (1,658) | (1,673) | (4,325) | (3,695) | (1,673) | (3,695) | ||
Other comprehensive income before reclassifications, net of tax | 0 | 0 | 0 | 0 | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | 7 | 84 | 22 | 252 | ||||
Total other comprehensive loss, net of tax | 7 | 84 | 22 | 252 | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | (798) | |||||||
Impact of adoption of Accounting Standard Update 2016-01 | 0 | |||||||
Balance | (1,651) | (1,658) | (4,241) | (4,325) | (1,651) | (4,241) | ||
Accumulated Gain (Loss), Financial Liability, Fair Value Option, Attributable to Parent [Member] | ||||||||
Balance | 989 | 866 | 792 | 0 | 866 | 0 | ||
Other comprehensive income before reclassifications, net of tax | 61 | 9 | 184 | 22 | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | 0 | 0 | 0 | 0 | ||||
Total other comprehensive loss, net of tax | 61 | 9 | 184 | 22 | ||||
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | 0 | |||||||
Impact of adoption of Accounting Standard Update 2016-01 | 779 | |||||||
Balance | 1,050 | 989 | 801 | 792 | 1,050 | 801 | ||
AOCI Attributable to Parent [Member] | ||||||||
Balance | (10,616) | (10,542) | (12,752) | (12,007) | (11,179) | (8,986) | (12,752) | (8,986) |
Other comprehensive income before reclassifications, net of tax | (2,078) | (1,546) | 619 | (3,682) | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | (275) | 4 | (836) | 413 | ||||
Total other comprehensive loss, net of tax | (2,353) | (74) | 2,210 | (1,542) | (832) | (895) | (217) | (3,269) |
Reclassification of the Income tax effects of Tax Cuts and Jobs Act from AOCI to Retained Earnings | (2,073) | (2,073) | ||||||
Impact of adoption of Accounting Standard Update 2016-01 | 4 | 775 | 779 | |||||
Balance | $ (12,969) | $ (10,616) | $ (10,542) | $ (13,549) | $ (12,007) | $ (11,179) | $ (12,969) | $ (13,549) |
Note 14 - Accumulated Other C_4
Note 14 - 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, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Tax (expense) benefit | $ (2,536) | $ (1,910) | $ (8,095) | $ (9,349) | |||||
Net of tax | 10,724 | $ 10,556 | $ 7,068 | 17,333 | $ 13,923 | $ 11,412 | 28,348 | 42,668 | |
Other expense | 30,440 | 23,965 | 88,016 | 62,795 | |||||
Other expense | 3,182 | 3,718 | 11,147 | 12,158 | |||||
Total before tax | 13,260 | 19,243 | 36,443 | 52,017 | |||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||
Tax (expense) benefit | 4 | 38 | 10 | 116 | |||||
Net of tax | (7) | (84) | (22) | (252) | |||||
Total before tax | (11) | (122) | (32) | (368) | |||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||||
Net loss on sale of securities | 0 | (15) | |||||||
Tax (expense) benefit | 0 | 5 | |||||||
Net of tax | 0 | (10) | |||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member] | |||||||||
Tax (expense) benefit | (127) | (36) | (389) | 74 | |||||
Net of tax | 282 | 80 | 868 | (161) | |||||
Other expense | 409 | 116 | 1,257 | (235) | |||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||||||
Other expense | [1] | (33) | (132) | (96) | (396) | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | |||||||||
Other expense | [1] | $ 22 | $ 10 | $ 64 | $ 28 | ||||
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 ("Pension and Other Postretirement Benefit Plans") for additional information. |
Note 15 - Regulatory Capital (D
Note 15 - Regulatory Capital (Details Textual) | Sep. 30, 2019 |
Capital Conservation Buffer Required for Capital Adequacy | 2.50% |
Savings Bank [Member] | |
Capital Conservation Buffer | 5.21% |
Holding Company [Member] | |
Capital Conservation Buffer | 5.37% |
Note 15 - Regulatory Capital -
Note 15 - Regulatory Capital - Summary of the Bank's Compliance (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Savings Bank [Member] | ||
Tier i (leverage) capital, capital level, amount | $ 673,084 | $ 660,782 |
Tier i (leverage) capital, capital level, percent | 9.66% | 9.85% |
Tier i (leverage) capital, requirement to be well capitalized, amount | $ 348,415 | $ 335,512 |
Tier i (leverage) capital, requirement to be well capitalized, percent | 5.00% | 5.00% |
Tier i (leverage) capital, excess, amount | $ 324,669 | $ 325,270 |
Tier i (leverage) capital, excess, percent | 4.66% | 4.85% |
Common equity tier i risk-based capital, capital level, amount | $ 673,084 | $ 660,782 |
Common equity tier i risk-based capital, capital level, percent | 12.79% | 13.28% |
Common equity tier i risk-based capital, requirement to be well capitalized, amount | $ 342,103 | $ 323,386 |
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 | $ 330,981 | $ 337,396 |
Common equity tier i risk-based capital, excess, percent | 6.29% | 6.78% |
Tier 1 risk-based capital, capital level, amount | $ 673,084 | $ 660,782 |
Tier 1 risk-based capital, capital level, percent | 12.79% | 13.28% |
Tier 1 risk-based capital, requirement to be well capitalized, amount | $ 421,049 | $ 398,014 |
Tier 1 risk-based capital, requirement to be well capitalized, percent | 8.00% | 8.00% |
Tier 1 risk-based capital, excess, amount | $ 252,035 | $ 262,768 |
Tier 1 risk-based capital, excess, percent | 4.79% | 5.28% |
Total risk-based capital, capital level, amount | $ 695,120 | $ 681,727 |
Total risk-based capital, capital level, percent | 13.21% | 13.70% |
Total risk-based capital, requirement to be well capitalized, amount | $ 526,312 | $ 497,517 |
Total risk-based capital, requirement to be well capitalized, percent | 10.00% | 10.00% |
Total risk-based capital, excess, amount | $ 168,808 | $ 184,210 |
Total risk-based capital, excess, percent | 3.21% | 3.70% |
Holding Company [Member] | ||
Tier i (leverage) capital, capital level, amount | $ 606,844 | $ 586,582 |
Tier i (leverage) capital, capital level, percent | 8.71% | 8.74% |
Tier i (leverage) capital, requirement to be well capitalized, amount | $ 348,355 | $ 335,616 |
Tier i (leverage) capital, requirement to be well capitalized, percent | 5.00% | 5.00% |
Tier i (leverage) capital, excess, amount | $ 258,489 | $ 250,966 |
Tier i (leverage) capital, excess, percent | 3.71% | 3.74% |
Common equity tier i risk-based capital, capital level, amount | $ 564,466 | $ 546,230 |
Common equity tier i risk-based capital, capital level, percent | 10.73% | 10.98% |
Common equity tier i risk-based capital, requirement to be well capitalized, amount | $ 342,078 | $ 323,382 |
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 | $ 222,388 | $ 222,848 |
Common equity tier i risk-based capital, excess, percent | 4.23% | 4.48% |
Tier 1 risk-based capital, capital level, amount | $ 606,844 | $ 586,582 |
Tier 1 risk-based capital, capital level, percent | 11.53% | 11.79% |
Tier 1 risk-based capital, requirement to be well capitalized, amount | $ 421,019 | $ 398,008 |
Tier 1 risk-based capital, requirement to be well capitalized, percent | 8.00% | 8.00% |
Tier 1 risk-based capital, excess, amount | $ 185,825 | $ 188,574 |
Tier 1 risk-based capital, excess, percent | 3.53% | 3.79% |
Total risk-based capital, capital level, amount | $ 703,879 | $ 682,527 |
Total risk-based capital, capital level, percent | 13.37% | 13.72% |
Total risk-based capital, requirement to be well capitalized, amount | $ 526,274 | $ 497,511 |
Total risk-based capital, requirement to be well capitalized, percent | 10.00% | 10.00% |
Total risk-based capital, excess, amount | $ 177,605 | $ 185,016 |
Total risk-based capital, excess, percent | 3.37% | 3.72% |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands | Oct. 24, 2019USD ($)$ / shares | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Assets, Total | $ 7,110,895 | $ 6,834,176 | |
Deposits, Total | $ 4,912,509 | $ 4,915,923 | |
Subsequent Event [Member] | |||
Assets, Total | $ 8,000,000 | ||
Loans and Leases Receivable, Gross, Total | 6,300,000 | ||
Deposits, Total | $ 5,800,000 | ||
Number of Branches | 23 | ||
Empire Bancorp, Inc. [Member] | Subsequent Event [Member] | |||
Business Combination, Consideration Transferred, Total | $ 111,600 | ||
Business Combination, Number of Common Shares Exchanged, Per Share | 0.6548 | ||
Business Combination, Equity Interest Issued or Issuable, Per Share, Cash | $ / shares | $ 14.04 | ||
Business Combination, Percent Acquired, Common Stock | 50.00% | ||
Business Combination, Percent Acquired, Cash | 50.00% |
Note 17 - New Authoritative A_2
Note 17 - New Authoritative Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Operating Lease, Right-of-Use Asset | $ 42,400 | $ 0 | ||
Operating Lease, Liability, Total | $ 50,626 | $ 0 | ||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 45,400 | |||
Operating Lease, Liability, Total | 54,000 | |||
Impact of Adoption of Accounting Standards Update | $ 2,716 | |||
Accounting Standards Update 2016-02 [Member] | Deferred Gain on Sale of Buildings Reclassified to Retained Earnings [Member] | ||||
Impact of Adoption of Accounting Standards Update | $ 2,700 |