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FFIC Flushing Financial

Document And Entity Information

Document And Entity Information - shares9 Months Ended
Sep. 30, 2020Oct. 30, 2020
Cover [Abstract]
Entity Central Index Key0000923139
Entity Registrant NameFlushing Financial Corporation
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2020
Document Type10-Q
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateSep. 30,
2020
Entity File Number001-33013
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number11-3209278
Entity Address, Address Line One220 RXR Plaza
Entity Address, City or TownUniondale
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code11556
City Area Code(718)
Local Phone Number961-5400
Title of 12(b) SecurityCommon Stock, $0.01 par value
Trading SymbolFFIC
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Emerging Growth Companyfalse
Entity Small Businessfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding (in shares)28,218,427

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Assets
Cash and due from banks $ 75,560 $ 49,787
Securities held-to-maturity:
Held to maturity securities58,573 58,888
Securities available for sale, at fair value:
Securities available for sale620,956 772,500
Loans:
Net unamortized premiums and unearned loan fees13,718 15,271
Allowance for loan losses(38,343)(21,751)
Net loans5,903,055 5,750,455
Interest and dividends receivable36,068 25,722
Bank premises and equipment, net25,766 28,676
Federal Home Loan Bank of New York stock, at cost57,119 56,921
Bank owned life insurance158,701 157,713
Goodwill16,127 16,127
Other real estate owned, net0 239
Right of Use Asset42,326 41,254
Other assets69,207 59,494
Total assets7,063,056 7,017,776
Liabilities
Non-interest bearing607,954 435,072
Interest-bearing4,298,405 4,586,977
Total Deposits4,906,359 5,022,049
Mortgagors' escrow deposits57,136 44,375
Borrowed funds:
Federal Home Loan Bank advances1,211,122 1,118,528
Subordinated debentures74,566 74,319
Junior subordinated debentures, at fair value38,287 44,384
Total borrowed funds1,323,975 1,237,231
Operating lease liability49,737 49,367
Other liabilities139,443 85,082
Total liabilities6,476,650 6,438,104
Stockholders' Equity
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued)
Common stock ($0.01 par value; 100,000,000 shares authorized; 31,530,595 shares issued at September 30, 2020 and December 31, 2019; 28,218,427 shares and 28,157,206 shares outstanding at September 30, 2020 and December 31, 2019, respectively)315 315
Additional paid-in capital227,877 226,691
Treasury stock, at average cost (3,312,168 shares and 3,373,389 shares at September 30, 2020 and December 31, 2019, respectively)(69,409)(71,487)
Retained earnings445,931 433,960
Accumulated other comprehensive loss, net of taxes(18,308)(9,807)
Total stockholders' equity586,406 579,672
Total liabilities and stockholders' equity7,063,056 7,017,776
Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity:
Held to maturity securities7,919 7,934
Securities available for sale, at fair value:
Securities available for sale386,235 523,849
Other Debt Obligations [Member]
Securities held-to-maturity:
Held to maturity securities50,654 50,954
Held to maturity securities, net of allowance for credit losses50,252 50,954
Securities available for sale, at fair value:
Securities available for sale234,721 248,651
Multi-Family Residential [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross2,252,757 2,238,591
Commercial Real Estate Loans [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross1,636,659 1,582,008
One-To-Four Family - Mixed Used Property [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross585,159 592,471
One-To-Four Family - Residential [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross191,011 188,216
Co-Operative Apartments [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross8,132 8,663
Construction Portfolio Segment [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross63,567 67,754
Small Business Administration [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross124,649 14,445
Taxi Medallion [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross2,317 3,309
Commercial Business and Other [Member]
Loans:
Loans and Leases Receivable, before Fees, Gross $ 1,063,429 $ 1,061,478

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Securities held-to-maturity, fair value $ 62,466 $ 62,112
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)28,218,427 28,157,206
Treasury stock, at average cost (in shares)3,312,168 3,373,389
Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, assets pledged $ 8,942 $ 5,283
Securities held-to-maturity, fair value9,198 8,114
Securities available for sale, pledged as collateral238,818 212,038
Securities available for sale, fair value option672 772
Other Debt Obligations [Member]
Securities held-to-maturity, assets pledged402 0
Securities held-to-maturity, fair value53,268 53,998
Securities available for sale, pledged as collateral0 0
Securities available for sale, fair value option $ 13,841 $ 13,548

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Interest and dividend income
Interest and fees on loans $ 60,367 $ 62,825 $ 182,033 $ 187,428
Interest and dividends on securities:
Interest3,525 6,287 12,963 20,007
Dividends9 18 35 56
Other interest income13 259 325 1,286
Total interest and dividend income63,914 69,389 195,356 208,777
Interest expense
Deposits7,093 22,244 35,842 66,540
Other interest expense6,897 8,196 20,047 21,476
Total interest expense13,990 30,440 55,889 88,016
Net interest income49,924 38,949 139,467 120,761
Provision for credit losses2,470 683 19,267 3,129
Net interest income after provision for credit losses47,454 38,266 120,200 117,632
Non-interest income
Banking services fee income1,316 847 3,058 2,879
Net loss on sale of securities0 0 (91)(15)
Net gain on sale of loans0 204 42 381
Net gain on sale of assets0 0 0 770
Net gain (loss) from fair value adjustments(2,225)(2,124)1,987 (6,160)
Federal Home Loan Bank of New York stock dividends874 834 2,719 2,563
Life insurance proceeds0 0 659 43
Bank owned life insurance923 1,000 2,798 2,550
Other income463 278 1,052 1,422
Total non-interest income1,351 1,039 12,224 4,433
Non-interest expense
Salaries and employee benefits17,335 15,461 52,139 50,295
Occupancy and equipment3,021 2,847 8,688 8,378
Professional services2,064 2,167 6,911 6,238
FDIC deposit insurance727 (589)2,114 563
Data processing1,668 1,490 5,175 4,402
Depreciation and amortization1,542 1,439 4,633 4,454
Other real estate owned/foreclosure expense240 48 121 145
Net loss from other real estate owned5 0 36 0
Other operating expenses3,383 3,182 11,303 11,147
Total non-interest expense29,985 26,045 91,120 85,622
Income before income taxes18,820 13,260 41,304 36,443
Provision for income taxes
Federal3,359 2,457 8,655 7,381
State and local1,130 79 1,436 714
Total taxes expense4,489 2,536 10,091 8,095
Net income $ 14,331 $ 10,724 $ 31,213 $ 28,348
Basic earnings per common share (in dollars per share) $ 0.50 $ 0.37 $ 1.08 $ 0.99
Diluted earnings per common share (in dollars per share)0.500.371.080.99
Dividends per common share $ 0.21 $ 0.21 $ 0.63 $ 0.63

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss) $ 14,331 $ 10,724 $ 31,213 $ 28,348
Other comprehensive income (loss), net of tax:
Amortization of actuarial losses, net of taxes of ($30) and ($11) for the three months ended September 30, 2020 and 2019, respectively and of ($91) and ($30) for the nine months ended September 30, 2020 and 2019, respectively.67 22 201 66
Amortization of prior service credits, net of taxes of $6 and $7 for the three months ended September 30, 2020 and 2019, respectively and of $20 and $20 for nine months ended September 30, 2020 and 2019, respectively.(15)(15)(44)(44)
Net unrealized gains(losses) on securities, net of taxes of ($1,449) and $218 for the three months ended September 30, 2020 and 2019, respectively and of ($2,000) and ($5,102) for nine months ended September 30, 2020 and 2019, respectively.3,185 (475)4,397 11,349
Reclassification adjustment for net losses included in income, net of taxes of ($29) and ($5) for the nine months ended September 30, 2020 and 2019, respectively.62 10
Net unrealized gains (losses) on cash flow hedges, net of taxes of ($849) and $874 for the three months ended September 30, 2020 and 2019 respectively and of $6,253 and $5,293 for nine months ended September 30, 2020 and 2019, respectively.1,866 (1,946)(13,744)(11,782)
Change in fair value of liabilities related to instrument-specific credit risk, net of taxes of ($50) and ($27) for the three months ended September 30, 2020 and 2019 respectively and of ($280) and ($81) for the nine months ended September 30, 2020 and 2019, respectively.111 61 627 184
Total other comprehensive income (loss) , net of tax5,214 (2,353)(8,501)(217)
Comprehensive income $ 19,545 $ 8,371 $ 22,712 $ 28,131

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Amortization of actuarial losses, net of taxes $ (30) $ (11) $ (91) $ (30)
Amortization of prior service credits, net of taxes6 7 20 20
Net unrealized gains on securities, net of taxes(1,449)218 (2,000)5,102
Reclassification adjustment for net losses included in income, net of taxes(29)(5)
Net unrealized loss on cash flow hedge, net of taxes(849)874 6,253 5,293
Change in fair value of liabilities related to instrument-specific credit risk, net of taxes $ (50) $ (27) $ (280) $ (81)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) $ 31,213 $ 28,348
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit loan losses19,267 3,129
Depreciation and amortization of bank premises and equipment4,633 4,454
Amortization of premium, net of accretion of discount4,721 4,932
Net (gain) loss from fair value adjustments(1,987)6,160
Net loss from fair value adjustments on qualifying hedges2,208 2,717
Net gain from sale of loans(42)(381)
Net loss from sale of securities91 15
Net gain from sale of asset0 (770)
Net loss from OREO36 0
Income from bank owned life insurance(2,798)(2,550)
Life insurance proceeds(659)(43)
Stock-based compensation expense5,510 6,617
Deferred Compensation(3,579)(2,526)
Deferred income tax benefit(4,174)(3,777)
Increase in other liabilities6,143 4,358
Decrease (increase) in other assets(15,043)1,659
Net cash provided by operating activities45,540 52,342
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of bank premises and equipment(1,723)(2,182)
Net purchases of Federal Home Loan Bank of New York shares(198)(7,998)
Purchases of securities held-to-maturity0 (30,030)
Proceeds from maturities and calls of securities held-to-maturity180 1,568
Proceeds from prepayments of securities held-to-maturity129 434
Purchases of securities available for sale(130,397)(141,798)
Proceeds from sales and calls of securities available for sale143,376 65,493
Proceeds from maturities and prepayments of securities available for sale142,320 88,217
Proceeds from sale of assets0 813
Proceeds from bank owned life insurance2,477 777
Purchase of bank owned life insurance0 (25,000)
Net originations of loans(11,295)(9,660)
Purchases of loans(132,893)(193,703)
Proceeds from sale of real estate owned203 0
Proceeds from sale of loans580 7,187
Net cash provided by (used in) investing activities12,759 (245,882)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in non-interest bearing deposits172,882 8,039
Net decrease in interest-bearing deposits(288,694)(11,643)
Net increase in mortgagors' escrow deposits12,761 16,942
Net proceeds from short-term borrowed funds0 115,750
Proceeds from long-term borrowings240,378 184,950
Repayment of long-term borrowings(147,771)(131,301)
Purchases of treasury stock(3,872)(2,656)
Proceeds from issuance of common stock upon exercise of stock options0 3
Cash dividends paid(18,210)(18,116)
Net cash provided by (used in) financing activities(32,526)161,968
Net increase (decrease) in cash and cash equivalents25,773 (31,572)
Cash and cash equivalents, beginning of period49,787 118,561
Cash and cash equivalents, end of period75,560 86,989
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid57,334 85,346
Income taxes paid13,594 8,531
Taxes paid if excess tax benefits were not tax deductible13,404 8,523
Non-cash activities:
Loans transferred to REO0 239
Right-of-use assets obtained in exchange for new operating lease liabilities $ 6,822 $ 1,295

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in ThousandsCommon Stock [Member]Additional Paid-in Capital [Member]Treasury Stock [Member]Retained Earnings [Member]AOCI Attributable to Parent [Member]Total
Balance at Dec. 31, 2018 $ 315 $ 222,720 $ (75,146) $ 414,327 $ (12,752) $ 549,464
Impact of Adoption of Accounting Standards Update0 0 0 2,716 0 2,716
Net income (loss)0 0 0 7,068 0 7,068
Award of common shares released from Employee Benefit Trust0 2,086 0 0 0 2,086
Vesting of restricted stock unit awards0 (5,878)6,088 (210)0
Exercise of stock options0 0 6 (3)0 3
Stock-based compensation expense0 3,931 0 0 0 3,931
Repurchase of shares to satisfy tax obligation0 0 (1,877)0 0 (1,877)
Dividends on common stock0 0 0 (6,042)0 (6,042)
Other comprehensive income (loss)0 0 0 0 2,210 2,210
Balance at Mar. 31, 2019315 222,859 (70,929)417,856 (10,542)559,559
Balance at Dec. 31, 2018315 222,720 (75,146)414,327 (12,752)549,464
Net income (loss)28,348
Other comprehensive income (loss)(217)(217)
Balance at Sep. 30, 2019315 225,471 (71,487)427,062 (12,969)568,392
Balance at Mar. 31, 2019315 222,859 (70,929)417,856 (10,542)559,559
Net income (loss)0 0 0 10,556 0 10,556
Award of common shares released from Employee Benefit Trust0 81 0 0 0 81
Vesting of restricted stock unit awards0 (24)24 0 0 0
Stock-based compensation expense0 1,315 0 0 0 1,315
Repurchase of shares to satisfy tax obligation0 0 (8)0 0 (8)
Dividends on common stock0 0 0 (6,039)0 (6,039)
Other comprehensive income (loss)0 0 0 0 (74)(74)
Balance at Jun. 30, 2019315 224,231 (70,913)422,373 (10,616)565,390
Net income (loss)0 0 0 10,724 0 10,724
Award of common shares released from Employee Benefit Trust0 66 0 0 0 66
Vesting of restricted stock unit awards0 (197)197 0 0 0
Stock-based compensation expense0 1,371 0 0 0 1,371
Purchase of treasury shares0 0 (771)0 0 (771)
Dividends on common stock0 0 0 (6,035)0 (6,035)
Other comprehensive income (loss)0 0 0 0 (2,353)(2,353)
Balance at Sep. 30, 2019315 225,471 (71,487)427,062 (12,969)568,392
Balance at Dec. 31, 2019315 226,691 (71,487)433,960 (9,807)579,672
Impact of Adoption of Accounting Standards Update0 0 0 (875)0 (875)
Net income (loss)0 0 0 (1,390)0 (1,390)
Award of common shares released from Employee Benefit Trust0 1,398 0 0 0 1,398
Vesting of restricted stock unit awards0 (5,626)5,782 (156)0 0
Stock-based compensation expense0 3,430 0 0 0 3,430
Purchase of treasury shares0 0 (2,342)0 0 (2,342)
Repurchase of shares to satisfy tax obligation0 0 (1,493)0 0 (1,493)
Dividends on common stock0 0 0 (6,084)0 (6,084)
Other comprehensive income (loss)0 0 0 0 (22,633)(22,633)
Balance at Mar. 31, 2020315 225,893 (69,540)425,455 (32,440)549,683
Balance at Dec. 31, 2019315 226,691 (71,487)433,960 (9,807)579,672
Net income (loss)31,213
Other comprehensive income (loss)(8,501)(8,501)
Balance at Sep. 30, 2020315 227,877 (69,409)445,931 (18,308)586,406
Balance at Mar. 31, 2020315 225,893 (69,540)425,455 (32,440)549,683
Net income (loss)0 0 0 18,272 0 18,272
Award of common shares released from Employee Benefit Trust0 40 0 0 0 40
Vesting of restricted stock unit awards0 (133)134 (1)0 0
Stock-based compensation expense0 1,101 0 0 0 1,101
Repurchase of shares to satisfy tax obligation0 0 (30)0 0 (30)
Dividends on common stock0 0 0 (6,063)0 (6,063)
Other comprehensive income (loss)0 0 0 0 8,918 8,918
Balance at Jun. 30, 2020315 226,901 (69,436)437,663 (23,522)571,921
Net income (loss)0 0 0 14,331 0 14,331
Award of common shares released from Employee Benefit Trust0 31 0 0 0 31
Vesting of restricted stock unit awards0 (34)34 0 0 0
Stock-based compensation expense0 979 0 0 0 979
Repurchase of shares to satisfy tax obligation0 0 (7)0 0 (7)
Dividends on common stock0 0 0 (6,063)0 (6,063)
Other comprehensive income (loss)0 0 0 0 5,214 5,214
Balance at Sep. 30, 2020 $ 315 $ 227,877 $ (69,409) $ 445,931 $ (18,308) $ 586,406

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares3 Months Ended
Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019
Dividends on common stock (in dollars per share) $ 0.21 $ 0.21 $ 0.21 $ 0.21 $ 0.21 $ 0.21
Common Stock [Member]
Common shares released from Employee Benefit Trust, shares (in shares)9,384 10,956 116,414 5,015 5,568 138,775
Restricted stock unit awards vested, shares (in shares)1,640 6,390 272,946 9,284 1,120 287,155
Exercise of stock options, shares (in shares)300
Treasury Stock [Member]
Purchase of treasury shares (in shares)142,405 40,000
Repurchase of shares to satisfy tax obligation, shares (in shares)647 2,558 74,145 382 83,908

Basis of Presentation

Basis of Presentation9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Basis of Presentation1. Basis of Presentation The primary business of Flushing Financial Corporation (the “Holding Company”), a Delaware corporation, is the operation of its wholly owned subsidiary, Flushing Bank (the “Bank”). The unaudited consolidated financial statements presented in this Quarterly Report on Form 10-Q (“Quarterly Report”) include the collective results of the Holding Company and its direct and indirect wholly-owned subsidiaries, including the Bank, Flushing Preferred Funding Corporation, Flushing Service Corporation, and FSB Properties Inc., which are collectively herein referred to as “we,” “us,” “our” and the “Company.” 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 included in the Company’s consolidated financial statements, as the Company would not absorb the losses of the Trusts if any losses were to occur. 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 necessarily indicative of the results that may be expected for the full year. The accompanying unaudited consolidated financial statements have been prepared in conformity with the instructions to Quarterly Report on Form 10-Q and Article 10, Rule 10-01 of Regulation S-X for interim financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited consolidated interim financial information should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. When necessary, certain reclassifications were made to prior-year amounts to conform to the current-year presentation. Such reclassifications had no effect on prior period net income or shareholders’ equity and were insignificant amounts.

Use of Estimates

Use of Estimates9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Use of Estimates2. Use of Estimates In December 2019, a novel coronavirus (COVID-19) was reported in China, and, in March 2020, the World Health Organization declared it a pandemic. The outbreak of COVID-19 has adversely impacted a broad range of industries in which the Company’s customers operate and could impair their ability to fulfill their financial obligations to the Company. The World Health Organization has declared COVID-19 to be a global pandemic indicating that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. The spread of the outbreak has caused significant disruptions in the U.S. economy and has disrupted banking and other financial activity in the areas in which the Company operates. As a result of the emergence of the pandemic and the uncertainty, it is not possible to determine the overall impact of the pandemic on the Company’s business. However, if the pandemic continues for an extended period of time, there could be a material adverse effect on the Company’s business, results of operations, financial condition and cash flows. On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security (“CARES”) Act in response to the coronavirus pandemic. This legislation aims at providing relief for individuals and businesses that have been negatively impacted by the coronavirus pandemic. The CARES Act includes a provision for the Company to opt out of applying the “troubled-debt restructuring” (“TDR”) accounting guidance in Accounting Standards Codification (“ASC”) 310-40 for certain loan modifications. Loan modifications made between March 1, 2020 and the earlier of i) December 30, 2020 or ii) 60 days after the President declares a termination of the COVID-19 national emergency are eligible for this relief if the related loans were not more than 30 days past due as of December 31, 2019. The Bank adopted this provision and at September 30, 2020, we have 509 active forbearances for loans with an aggregate outstanding loan balance of approximately $846 million resulting in total deferment of $28.4 million in principal, interest and escrow, as disclosed more fully in Note 5 (“Loans”) of the Notes to the Consolidated Financial Statements. 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, including COVID-19 related changes, are used in connection with the determination of the allowance for credit losses, the evaluation of goodwill for impairment, the review of the need for a valuation allowance of the Company’s deferred tax assets and the fair value of financial instruments. Goodwill Goodwill is presumed to have an indefinite life and is tested annually for impairment, or more frequently when certain conditions are met. If the fair value of the reporting unit is greater than the carrying value, no further evaluation is required. If the fair value of the reporting unit is less than the carrying value, further evaluation would be required to compare the fair value of the reporting unit to the carrying value and determine if impairment is required. Quoted market prices in active markets are the best evidence of fair value and are to be used as the basis for measurement, when available. Other acceptable valuation methods include an asset approach, which determines a fair value based upon the value of assets net of liabilities, an income approach, which determines fair value using one or more methods that convert anticipated economic benefits into a present single amount, and a market approach, which determines a fair value based on the similar businesses that have been sold. Volatility in the Company’s stock price primarily driven by the COVID-19 pandemic has resulted in the net book value of our reporting unit exceeding market capitalization, however, the fair value of our reporting unit is not driven solely by the market price of our stock. As described above, fair value of our reporting unit is derived using a combination of an asset approach, an income approach and a market approach. These valuation techniques consider several other factors beyond our market capitalization, such as the estimated future cash flows of our reporting unit, the discount rate used to present value such cash flows and the market multiples of comparable companies. Changes to input assumptions used in the analysis could result in materially different evaluations of goodwill impairment. We qualitatively assess whether the carrying value of our reporting unit exceeds fair value. If this qualitative assessment determines that it is more likely than not that the carrying value exceeds fair value, further qualitative evaluation for impairment would be required to compare the fair value of the reporting unit to the carrying value and determine if impairment is required. In performing the goodwill impairment testing, the Company has identified a single reporting unit. The Company continues to evaluate the impact of the COVID-19 pandemic and as such, evaluated goodwill for impairment at September 30, 2020. The Company conducted a quantitative impairment test of goodwill as of September 30, 2020, which did not indicate an impairment of goodwill. Management will continue to monitor if events requiring further goodwill impairment testing have occurred. At September 30, 2020 and December 31, 2019, the carrying amount of goodwill totaled $16.1 million. The identification of additional reporting units, the use of other valuation techniques and/or changes to input assumptions used in the analysis could result in materially different evaluations of goodwill impairment. ​

Earnings Per Share

Earnings Per Share9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share3. Earnings Per Share 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, ​ ​ 2020 2019 2020 2019 ​ ​ (In thousands, except per share data) ​ Net income ​ $ 14,331 ​ $ 10,724 ​ $ 31,213 ​ $ 28,348 ​ Divided by: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 28,874 ​ 28,730 ​ 28,865 ​ 28,704 ​ Weighted average common stock equivalents ​ — ​ — ​ — ​ — ​ Total weighted average common shares outstanding and common stock equivalents ​ 28,874 ​ 28,730 ​ 28,865 ​ 28,704 ​ Basic earnings per common share ​ $ 0.50 ​ $ 0.37 ​ $ 1.08 ​ $ 0.99 ​ Diluted earnings per common share (1) ​ $ 0.50 ​ $ 0.37 ​ $ 1.08 ​ $ 0.99 ​ Dividend payout ratio ​ 42.0 % 56.8 % 58.3 % 63.6 % (1) For the three and nine months ended September 30, 2020 and 2019, there were no common stock equivalents that were anti-dilutive.

Securities

Securities9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Securities4. Securities The Company did not hold any trading securities at September 30, 2020 and December 31, 2019. Securities available for sale are recorded at fair value. Securities held-to-maturity (“HTM”) are recorded at amortized cost. Allowance for credit losses The Company’s estimate of expected credit losses for held-to-maturity debt securities is based on historical information, current conditions and a reasonable and supportable forecast. The Company’s portfolio is made up of three securities, two of which are structured similar to a commercial owner occupied loan, which is modeled for credit losses similar to commercial business loans secured by real estate. The other security is issued and guaranteed by Fannie Mae, which is a government sponsored enterprise that has a credit rating and perceived credit risk comparable to the U.S. government and therefore the Company assumes a zero loss expectation. As of September 30, 2020, we have one active forbearance for held-to-maturity securities with an outstanding balance of $20.9 million. During the time this security is in forbearance, it is considered current and as such, continues to accrue interest at its original contractual terms. Accrued interest receivable on held-to-maturity securities totaled $0.1 million at September 30, 2020 and is excluded from estimates of credit losses. The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ for Credit ​ Cost Fair Value Gains Losses Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ Municipals ​ $ 50,654 ​ $ 53,268 ​ $ 2,614 ​ $ — ​ $ (402) Total other securities ​ 50,654 ​ 53,268 ​ 2,614 ​ — ​ (402) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FNMA ​ 7,919 ​ 9,198 ​ 1,279 ​ — ​ — Total mortgage-backed securities ​ 7,919 ​ 9,198 ​ 1,279 ​ — ​ — Total ​ $ 58,573 ​ $ 62,466 ​ $ 3,893 ​ $ — ​ $ (402) ​ The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ Municipals ​ $ 50,954 ​ $ 53,998 ​ $ 3,044 ​ $ — Total other securities ​ 50,954 ​ 53,998 ​ 3,044 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FNMA ​ 7,934 ​ 8,114 ​ 180 ​ — Total mortgage-backed securities ​ 7,934 ​ 8,114 ​ 180 ​ — Total ​ $ 58,888 ​ $ 62,112 ​ $ 3,224 ​ $ — ​ The following table summarizes the Company’s portfolio of securities available for sale at September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate ​ $ 130,000 ​ $ 123,516 ​ $ 192 ​ $ 6,676 Municipals ​ 65 ​ 65 ​ — ​ — Mutual funds ​ 12,691 ​ 12,691 ​ — ​ — Collateralized loan obligations ​ 100,473 ​ 97,300 ​ — ​ 3,173 Other ​ 1,149 ​ 1,149 ​ — ​ — Total other securities ​ 244,378 ​ 234,721 ​ 192 ​ 9,849 REMIC and CMO ​ 206,973 ​ 213,941 ​ 7,007 ​ 39 GNMA ​ 505 ​ 554 ​ 49 ​ — FNMA ​ 129,140 ​ 132,001 ​ 2,883 ​ 22 FHLMC ​ 39,266 ​ 39,739 ​ 504 ​ 31 Total mortgage-backed securities ​ 375,884 ​ 386,235 ​ 10,443 ​ 92 Total securities available for sale ​ $ 620,262 ​ $ 620,956 ​ $ 10,635 ​ $ 9,941 ​ The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate ​ $ 130,000 ​ $ 123,050 ​ $ — ​ $ 6,950 Municipals ​ 12,797 ​ 12,916 ​ 119 ​ — Mutual funds ​ 12,216 ​ 12,216 ​ — ​ — Collateralized loan obligations ​ 100,349 ​ 99,137 ​ — ​ 1,212 Other ​ 1,332 ​ 1,332 ​ — ​ — Total other securities ​ 256,694 ​ 248,651 ​ 119 ​ 8,162 REMIC and CMO ​ 348,236 ​ 348,989 ​ 2,193 ​ 1,440 GNMA ​ 653 ​ 704 ​ 51 ​ — FNMA ​ 104,235 ​ 104,882 ​ 1,073 ​ 426 FHLMC ​ 68,476 ​ 69,274 ​ 871 ​ 73 Total mortgage-backed securities ​ 521,600 ​ 523,849 ​ 4,188 ​ 1,939 Total securities available for sale ​ $ 778,294 ​ $ 772,500 ​ $ 4,307 ​ $ 10,101 ​ We did not hold any private issue CMO’s that are collateralized by commercial real estate mortgages at September 30, 2020 and December 31, 2019. The corporate securities held by the Company at September 30, 2020 and December 31, 2019 are issued by U.S. banking institutions. 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, 2020, by contractual maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ ​ ​ Securities held-to-maturity: Cost Fair Value ​ (In thousands) Due after ten years ​ $ 50,654 ​ $ 53,268 Total other securities ​ ​ 50,654 ​ ​ 53,268 Mortgage-backed securities ​ ​ 7,919 ​ ​ 9,198 Total ​ $ 58,573 $ 62,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ ​ ​ Securities available for sale: Cost Fair Value ​ ​ (In thousands) Due after one year through five years ​ $ 45,000 ​ $ 43,654 Due after five years through ten years ​ 110,431 ​ 104,599 Due after ten years ​ ​ 76,256 ​ ​ 73,777 Total other securities ​ 231,687 ​ 222,030 Mutual funds ​ 12,691 ​ 12,691 Mortgage-backed securities ​ 375,884 ​ 386,235 Total ​ $ 620,262 ​ $ 620,956 ​ 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, 2020 ​ ​ 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 14 ​ $ 113,324 ​ $ 6,676 ​ $ — ​ $ — ​ $ 113,324 ​ $ 6,676 Collateralized loan obligations 13 ​ 97,299 ​ 3,173 ​ 7,293 ​ 183 ​ 90,006 ​ 2,990 Total other securities 27 ​ 210,623 ​ 9,849 ​ 7,293 ​ 183 ​ 203,330 ​ 9,666 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ REMIC and CMO 2 ​ 5,663 ​ 39 ​ 5,663 ​ 39 ​ — ​ — GNMA (1) 1 ​ 48 ​ — ​ 48 ​ — ​ — ​ — FNMA 1 ​ 8,652 ​ 22 ​ — ​ — ​ 8,652 ​ 22 FHLMC 1 ​ 13,449 ​ 31 ​ 13,449 ​ 31 ​ — ​ — Total mortgage-backed securities 5 ​ 27,812 ​ 92 ​ 19,160 ​ 70 ​ 8,652 ​ 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 32 ​ $ 238,435 ​ $ 9,941 ​ $ 26,453 ​ $ 253 ​ $ 211,982 ​ $ 9,688 (1) At September 30, 2020, the unrealized loss was less than $1,000 and in a continuous loss position for less than 12 months. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 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 ​ $ 123,050 ​ $ 6,950 ​ $ — ​ $ — ​ $ 123,050 ​ $ 6,950 Collateralized loan obligations 13 ​ 99,137 ​ 1,212 ​ 25,451 ​ 108 ​ 73,686 ​ 1,104 Total other securities 29 ​ 222,187 ​ 8,162 ​ 25,451 ​ 108 ​ 196,736 ​ 8,054 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ REMIC and CMO 23 ​ 120,989 ​ 1,440 ​ 102,384 ​ 1,117 ​ 18,605 ​ 323 GNMA 1 ​ 49 ​ — ​ 49 ​ — ​ — ​ — FNMA 8 ​ 67,618 ​ 426 ​ 19,073 ​ 138 ​ 48,545 ​ 288 FHLMC 1 ​ 30,200 ​ 73 ​ — ​ — ​ 30,200 ​ 73 Total mortgage-backed securities 33 ​ 218,856 ​ 1,939 ​ 121,506 ​ 1,255 ​ 97,350 ​ 684 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 62 ​ $ 441,043 ​ $ 10,101 ​ $ 146,957 ​ $ 1,363 ​ $ 294,086 ​ $ 8,738 ​ The Company reviewed each available for sale debt security that had an unrealized loss at September 30, 2020 and December 31, 2019. At September 30, 2020, the Company evaluated whether the decline in fair value of a debt security resulted from credit losses or other factors under ASC 326. The Company does not have the intent to sell these securities and it is more likely than not the Company will not be required to sell the securities before recovery of the securities’ amortized cost basis. This conclusion is based upon considering the Company’s cash and working capital requirements and contractual and regulatory obligations, none of which the Company believes would cause the sale of the securities. All of these securities are rated investment grade or above and have a long history of no credit losses. It is not anticipated that these securities would be settled at a price that is less than the amortized cost of the Company’s investment. In determining the risk of loss for available for sale securities, the Company considered that mortgage-backed securities are either fully guaranteed or issued by a government sponsored enterprise, which has a credit rating and perceived credit risk comparable to U.S. government, the issuer of Corporate securities are global systematically important banks, and the tranche of the purchased CLO’s. Each of these securities is performing according to its terms and, in the opinion of management, will continue to perform according to its terms. Based on this review, m anagement believes that the unrealized losses have resulted from other factors not deemed credit-related and no allowance for credit loss was recorded Accrued interest receivable on available-for-sale debt securities totaled $1.4 million at September 30, 2020 and is excluded from the estimate of credit losses. Upon adoption of ASC Topic 326, “Credit Losses” on January 1, 2020, see Note 17 related to the adoption of Topic 326, we recorded a transition adjustment of $0.3 million in the allowance for credit losses for held-to-maturity debt securities. The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ Other securities ​ ​ ​ (In thousands) ​ Beginning balance ​ $ — ​ $ 402 ​ Provision ​ ​ — ​ ​ — ​ Allowance for credit losses - securities ​ $ — ​ $ 402 ​ ​ The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ Other securities ​ ​ (In thousands) Beginning balance ​ $ — ​ $ — CECL adoption ​ ​ — ​ ​ 340 Provision ​ ​ — ​ ​ 62 Allowance for credit losses - securities ​ $ — ​ $ 402 ​ Realized gains and losses on the sales of securities are determined using the specific identification method. The Company did not sell any securities during three months ended September 30, 2020 and 2019. The Company sold $130.8 million and $26.4 million in mortgage-backed securities during the nine months ended September 30, 2020 and 2019, respectively. 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, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Gross gains from the sale of securities ​ $ — ​ $ — ​ $ 1,476 ​ $ 423 Gross losses from the sale of securities ​ — ​ — ​ (1,567) ​ (438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net losses from the sale of securities ​ $ — ​ $ — ​ $ (91) ​ $ (15) ​

Loans

Loans9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Loans5. Loans Loans are reported at their outstanding principal balance net of any unearned income, charge-offs, deferred loan fees and costs on originated loans and unamortized premiums or discounts on purchased loans. Loan fees and certain loan origination costs are deferred. Net loan origination costs and premiums or discounts on loans purchased are amortized into interest income over the contractual life of the loans using the level-yield method. Prepayment penalties received on loans which pay in full prior to their scheduled maturity are included in interest income in the period they are collected. Interest on loans is recognized on the accrual basis. Accrued interest receivable totaled $33.5 million at September 30, 2020 and was reported in “Interest and dividends receivable” on the Consolidated Statements of Financial Condition. The accrual of income on loans is generally discontinued when certain factors, such as contractual delinquency of 90 days or more, indicate reasonable doubt as to the timely collectability of such income. Uncollected interest previously recognized on non-accrual loans is reversed from interest income at the time the loan is placed on non-accrual status. A non-accrual loan can be returned to accrual status when contractual delinquency returns to less than 90 days delinquent. Payments received on non-accrual loans that do not bring the loan to less than 90 days delinquent are recorded on a cash basis. Payments can also be applied first as a reduction of principal until all principal is recovered and then subsequently to interest, if in management’s opinion, it is evident that recovery of all principal due is likely to occur. Pursuant to the CARES Act, loan modifications made between March 1, 2020 and the earlier of i) December 30, 2020 or ii) 60 days after the President declares a termination of the COVID-19 national emergency are not classified as TDRs if the related loans were not more than 30 days past due as of December 31, 2019. The Company has elected that loans temporarily modified for borrowers directly impacted by COVID-19 are not considered TDR, assuming the above criteria is met and as such, these loans are considered current and continue to accrue interest at its original contractual terms. Deferrals granted under the Cares Act are deemed in accrual status and interest income is accrued until the end of deferral period even if there are no payments being collected. When the forbearance period is over, borrowers are expected to resume contractual payments. The determination of whether a loan is past due is based on the modified terms of the agreement. Once the deferral period is over, the borrower will resume making payments and normal delinquency-based non-accrual policies will apply. 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 days or more, are classified as non-accrual unless the loan is well secured and there is, in our opinion, compelling evidence the borrower will bring the loan current in the immediate future. Prior to a real estate secured loan becoming 90 days delinquent, an updated appraisal is ordered and/or an internal evaluation is prepared. Allowance for credit losses The Allowance for credit losses (“ACL”) is an estimate 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. Loans are charged off against that ACL when management believes that a loan balance is uncollectable based on quarterly analysis of credit risk. As of January 1, 2020, the Company adopted Topic 326, see Note 17 related to the adoption of Topic 326. The amount of the ACL is based upon a loss rate model that considers multiple factors which reflects management’s assessment of the credit quality of the loan portfolio. Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The factors are both quantitative and qualitative in nature including, but not limited to, historical losses, economic conditions, trends in delinquencies, value and adequacy of underlying collateral, volume and portfolio mix, and internal loan processes. The quantitative allowance is calculated using a number of inputs and assumptions. The process and guidelines were developed using, among other factors, the guidance from federal banking regulatory agencies and GAAP. The results of this process, support management’s assessment as to the adequacy of the ACL at each balance sheet date. The process for calculating the allowance for credit losses begins with our historical losses by portfolio segment. The losses are then incorporated into reasonable and supportable forecast to develop the quantitative component of the allowance for credit losses. The Bank has established an Asset Classification Committee which carefully evaluates loans which are past due 90 days and/or are classified. The Asset Classification Committee thoroughly assesses the condition and circumstances surrounding each loan meeting the criteria. The Bank also has a Delinquency Committee that evaluates loans meeting specific criteria. The Bank’s loan policy requires loans to be placed into non-accrual status once the loan becomes 90 days delinquent unless there is, compelling evidence the borrower will bring the loan current in the immediate future. For the quantitative measurement, the Company’s portfolio consists of mortgage loans secured by real estate (both commercial and retail) and non-mortgage loans, which are primarily commercial business term loans and line of credit. Based on the Company’s evaluation of the loan portfolio, listed below are the pools that were established as a baseline level of segmentation with their primary risk factor. The Company confirms this data remains relevant in absence of changes to the composition of the portfolio. The mortgage portfolio is a substantial component of Company’s portfolio and it is a focus of the Company’s lending strategy, primarily focusing on multi-family and commercial real estate. While the mortgage portfolio consists of real-estate secured loans, the source of repayment and types of properties securing these loans varies and thus the Company first considered these differences as follows: 1. One-to-four family residential property – These loans are secured by residential properties for which the primary source of repayment is the income generated by the residential borrower. Delinquency status is considered a risk factor in this pool. 2. One-to-four family mixed use – These loans are secured by residential properties for which the primary source of repayment is the income generated by the property. Unlike the one-to-four residential credits, properties securing mixed use loans include a commercial space component. Delinquency status is considered a risk factor in this pool. 3. Multi-family residential – These loans are secured by multi-unit residential buildings for which the primary source of repayment is the income generated by the property. Properties securing multifamily loans have five or more residential units and thus a greater number of cash flow streams compared to one-to-four mixed use loans. Delinquency status and risk rating are considered risk factors in this pool. 4. Commercial real estate (CRE) – These loans are secured by properties for commercial use for which the primary source of repayment is the income generated by the property. Delinquency status, risk rating and collateral type are considered risk factors in this pool. 5. Construction – These loans are provided to fund construction projects for both residential and commercial properties. These loans are inherently different from all others as they represent “work in progress” and expose the Company to risk from non-completion and less recovery value should the sponsor of an unfinished property default. Delinquency status and risk rating are considered risk factors in this pool. Relative to the non-mortgage portfolio, the Company considered the following categories as a baseline for evaluation: 6. Commercial Business – These loans are not typically secured by real estate. The primary source of repayment is cash flows from operations of the borrower’s business. Within this category are Small Business Administration (“SBA”) credits and equipment finance credits. Delinquency status, risk rating and industry are considered a risk factors in this pool. 7. Commercial Business secured by real estate – These loans are secured by properties used by the borrower for commercial use where the primary source of repayment is expected to be the income generated by the borrower’s business use of the property. As a result of the Coronavirus pandemic and the strain placed upon many businesses, the Company recognized in circumstances where the borrower is not performing, the real estate collateral would be the source of repayment. The Company considers these credits to be less risky than commercial business loans, however, riskier than commercial real estate loans. Delinquency status, risk rating and industry are considered risk factors in this pool. 8. Taxi Medallions – These loans consist primarily of loans made to New York taxi medallion owners and are secured by liens on the taxi medallions. No new taxi medallions have been originated since 2014, the remaining portfolio is running off and all credits are individually evaluated for expected credit losses. Lastly, the Company identified that the remainder of the portfolio includes overdraft lines of credit. 9. Overdrafts – These are unsecured consumer lines of credits and are an immaterial component of the Company’s portfolio. For the qualitative measurement, the Company aggregated the portfolio segments according to three business units: business banking, residential and commercial real estate. In accordance with the interagency statement and SEC guidance, Management evaluates nine qualitative risk factors to determine if the risk is captured elsewhere in the ACL process. If not captured elsewhere, the Company has identified specific risk factors to evaluate and incorporate into its Qualitative Framework. Some risk factors include time to maturity, origination loan-to-value, loan type composition, the value of underlying collateral, changes in policies and procedures for lending strategies and underwriting standards, collection and recovery practices, internal credit review, changes in personnel, divergence between the levels of NYC and national unemployment, divergence between the NYC GDP and national GDP, industry concentrations and riskiness and large borrower concentrations. The Company recorded a provision for loans losses totaling $2.5 million and $19.2 million for the three months and nine months ending September 30, 2020, respectively, primarily due to the economic conditions resulting from COVID-19 and the growth in the loan portfolio. The Company specifies both the reasonable and supportable forecast and reversion periods in three economic conditions (expansion, transition, contraction). When calculating the ACL estimate for September 30, 2020, Management acknowledged deteriorated economic conditions as a result of the COVID-19 pandemic were captured in the forecast within the model platform. As such, when determining the reasonable and supportable forecast, Management adjusted the period to reflect a forecast of four quarters, to align with a previously established framework for contraction periods. Similarly, the reversion period was adjusted to four quarters. Management believed these adjustments are necessary as the forecast has suggested more stability than at the beginning of the COVID-19 pandemic. This resulted in the ACL for loans totaling $38.3 million at September 30, 2020, representing 0.65% of gross loans and 154.7% of non-performing loans compared to $21.8 million at December 31, 2019. In response to COVID-19, the Company is actively assisting customers by providing modifications in the form of deferrals of interest, principal and/or escrow for terms ranging from one and normal delinquency-based non-accrual policies will apply. These loans were captured in the portfolio segments described above and the potential losses captured in the variables used in the ACL calculation. The Company may restructure loans that are not directly impacted by COVID-19 to enable a borrower experiencing financial difficulties to continue making payments when it is deemed to be in the Company’s best long-term interest. This restructure may include reducing the interest rate or amount of the monthly payment for a specified period of time, after which the interest rate and repayment terms revert to the original terms of the loan. We classify these loans as TDR. 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 individually evaluated, however TDR loans which have been current for six consecutive months at the time they are restructured as TDR remain on accrual status and are not included as part of non-performing loans. Loans which were delinquent at the time they are restructured as a TDR are placed on non-accrual status and reported as non-accrual performing TDR loans until they have made timely payments for six consecutive months. These restructurings have not included a reduction of principal balance. 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, 2020, there were no commitments to lend additional funds to borrowers whose loans were modified to a TDR. The modification of loans to a TDR did not have a significant effect on our operating results, nor did it require a significant allocation of the allowance for loan losses. The following table shows TDR loan modifications and classified as TDR loans during the periods indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three and nine months ended ​ ​ September 30, 2020 ​ September 30, 2019 (Dollars in thousands) Number Balance Modification description Number Balance Modification description One-to-four family - mixed-use property ​ 1 ​ $ 270 ​ Below market interest rate. ​ — ​ ​ — ​ ​ Commercial business and other — ​ ​ — ​ 3 ​ $ 951 Amortization extension Total 1 ​ $ 270 3 ​ $ 951 ​ ​ The following table shows our recorded investment for loans classified as TDR at amortized cost that are performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ Number ​ Amortized (Dollars in thousands) of contracts Cost Multi-family residential 7 ​ $ 1,876 One-to-four family - mixed-use property (1) 5 ​ 1,744 One-to-four family - residential 3 ​ 513 Taxi medallion (1) 1 ​ ​ 99 Commercial business and other (1) 3 ​ 950 Total performing troubled debt restructured 19 ​ $ 5,182 (1) These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis. ​ The following table shows our recorded investment for loans classified as TDR that are performing according to their restructured terms at the periods indicated : ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Number ​ Recorded (Dollars in thousands) ​ of contracts investment Multi-family residential ​ 7 ​ $ 1,873 One-to-four family - mixed-use property ​ 4 ​ 1,481 One-to-four family - residential ​ 3 ​ 531 Taxi medallion (1) ​ 7 ​ 1,668 Commercial business and other (1) ​ 3 ​ 941 Total performing troubled debt restructured ​ 24 ​ $ 6,494 ​ (1) These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis. During the three and nine months ended September 30, 2020 and 2019, there were no defaults of TDR loans within 12 months of their modification date. ​ The following table shows our recorded investment for loans classified as TDR at amortized cost that are not performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ Number ​ Amortized (Dollars in thousands) of contracts Cost Taxi medallion 10 ​ $ 1,823 Commercial business and other 1 ​ 279 Total troubled debt restructurings that subsequently defaulted 11 ​ $ 2,102 ​ ​ The following table shows our recorded investment for loans classified as TDR that are not performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Number ​ Recorded (Dollars in thousands) ​ of contracts investment Taxi medallion ​ 4 ​ $ 1,065 Commercial business and other ​ 1 ​ 279 Total troubled debt restructurings that subsequently defaulted ​ 5 ​ $ 1,344 ​ ​ The following table shows our non-accrual loans at amortized cost with no related allowance and interest income recognized for loans ninety days or more past due and still accruing for period shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At or for the nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ Non-Accrual ​ ​ ​ ​ ​ Loans ninety days ​ ​ ​ Total Non-Accrual ​ ​ with no related ​ ​ Interest Income ​ ​ or more past due (In thousands) ​ ​ Amortized Cost ​ ​ Allowance ​ ​ Recognized ​ ​ and still accruing: Multi-family residential ​ $ 2,723 ​ $ 2,723 ​ $ — ​ $ — Commercial real estate ​ ​ 2,714 ​ ​ 2,714 ​ ​ — ​ ​ — One-to-four family - mixed-use property ​ ​ 1,704 ​ ​ 1,704 ​ ​ — ​ ​ — One-to-four family - residential ​ ​ 5,922 ​ ​ 5,922 ​ ​ — ​ ​ — Small Business Administration ​ ​ 1,169 ​ ​ 1,169 ​ ​ — ​ ​ — Taxi medallion (1) ​ ​ 2,318 ​ ​ 2,318 ​ ​ — ​ ​ — Commercial business and other (1) ​ ​ 9,278 ​ ​ 6,456 ​ ​ 32 ​ ​ — Total ​ $ 25,828 ​ $ 23,006 ​ $ 32 ​ $ — ​ (1) ​ ​ The following table shows our non-performing loans at the period indicated: ​ ​ ​ ​ ​ ​ ​ December 31, (In thousands) ​ 2019 Loans ninety days or more past due and still accruing: ​ ​ Multi-family residential ​ $ 445 Total ​ 445 Non-accrual mortgage loans: ​ Multi-family residential ​ 2,296 Commercial real estate ​ 367 One-to-four family - mixed-use property ​ 274 One-to-four family - residential ​ ​ 5,139 Total ​ 8,076 Non-accrual non-mortgage loans: ​ Small Business Administration ​ 1,151 Taxi medallion (1) ​ 1,641 Commercial business and other (1) ​ 1,945 Total ​ 4,737 Total non-accrual loans ​ 12,813 Total non-performing loans ​ $ 13,258 ​ (1) Not included in the above analysis are non-accrual performing TDR taxi medallion loans totaling $1.7 million at December 31, 2019, respectively and non-accrual performing TDR commercial business loans totaling $0.9 million at December 31, 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, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 491 ​ $ 416 ​ $ 1,296 ​ $ 1,224 Less: Interest income included in the results of operations ​ 78 ​ 89 ​ 240 ​ 330 Total foregone interest ​ $ 413 ​ $ 327 ​ $ 1,056 ​ $ 894 ​ The following tables shows the aging of the amortized cost basis in past-due loans at the period indicated by class of loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 4,499 ​ $ 777 ​ $ 2,723 ​ $ 7,999 ​ $ 2,251,453 ​ $ 2,259,452 Commercial real estate ​ 525 ​ 192 ​ 2,714 ​ 3,431 ​ 1,635,986 ​ 1,639,417 One-to-four family - mixed-use property ​ 3,048 ​ 559 ​ 1,429 ​ 5,036 ​ 584,562 ​ 589,598 One-to-four family - residential ​ 2,118 ​ 689 ​ 5,922 ​ 8,729 ​ 192,052 ​ 200,781 Construction loans ​ — ​ — ​ — ​ — ​ 63,406 ​ 63,406 Small Business Administration ​ — ​ — ​ 1,169 ​ 1,169 ​ 122,311 ​ 123,480 Taxi medallion ​ 198 ​ 99 ​ 2,021 ​ 2,318 ​ — ​ 2,318 Commercial business and other ​ 112 ​ — ​ 6,456 ​ 6,568 ​ 1,056,378 ​ 1,062,946 Total ​ $ 10,500 ​ $ 2,316 ​ $ 22,434 ​ $ 35,250 ​ $ 5,906,148 ​ $ 5,941,398 ​ ​ The following tables show by delinquency an analysis of our recorded investment in loans at the periods indicated by class of loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ than ​ Total Past ​ ​ ​ ​ ​ ​ ​ Past Due Past Due 90 Days Due Current Total Loans Multi-family residential ​ $ 4,042 ​ $ 1,563 ​ $ 2,741 ​ $ 8,346 ​ $ 2,230,245 ​ $ 2,238,591 Commercial real estate ​ — ​ 4,941 ​ 367 ​ 5,308 ​ 1,576,700 ​ 1,582,008 One-to-four family - mixed-use property ​ 1,117 ​ 496 ​ 274 ​ 1,887 ​ 590,584 ​ 592,471 One-to-four family - residential ​ 720 ​ 1,022 ​ 5,139 ​ 6,881 ​ 181,335 ​ 188,216 Co-operative apartments ​ — ​ — ​ — ​ — ​ 8,663 ​ 8,663 Construction loans ​ — ​ — ​ — ​ — ​ 67,754 ​ 67,754 Small Business Administration ​ — ​ — ​ 1,151 ​ 1,151 ​ 13,294 ​ 14,445 Taxi medallion ​ — ​ — ​ 1,065 ​ 1,065 ​ 2,244 ​ 3,309 Commercial business and other ​ 2,340 ​ 5 ​ 1,945 ​ 4,290 ​ 1,057,188 ​ 1,061,478 Total ​ $ 8,219 ​ $ 8,027 ​ $ 12,682 ​ $ 28,928 ​ $ 5,728,007 ​ $ 5,756,935 ​ ​ ​ The following tables show the activity in the allowance for loan losses for the three month periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Small Business ​ Taxi ​ business and ​ ​ ​ (In thousands) ​ residential ​ real estate ​ property ​ residential ​ loans ​ Administration ​ medallion ​ other ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 8,935 ​ $ 6,971 ​ $ 2,826 ​ $ 1,161 ​ $ 183 ​ $ 1,386 ​ $ — ​ $ 15,248 ​ $ 36,710 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — ​ (951) ​ (13) ​ (964) Recoveries ​ 14 ​ — ​ 60 ​ 2 ​ — ​ 47 ​ — ​ 4 ​ 127 Provision (benefit) ​ (1,553) ​ 1,576 ​ (1,208) ​ (483) ​ 35 ​ 450 ​ 951 ​ 2,702 ​ 2,470 Ending balance ​ $ 7,396 ​ $ 8,547 ​ $ 1,678 ​ $ 680 ​ $ 218 ​ $ 1,883 ​ $ — ​ $ 17,941 ​ $ 38,343 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Small Business ​ Taxi ​ business and ​ ​ ​ (In thousands) ​ residential ​ real estate ​ property ​ residential ​ loans ​ Administration ​ medallion ​ other ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,506 ​ $ 4,265 ​ $ 1,786 ​ $ 746 ​ $ 381 ​ $ 382 ​ $ — ​ $ 8,444 ​ $ 21,510 Charge-offs ​ (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 ​ ​ ​ ​ ​ See also Note 17 for the adoption of ASC Topic 326, “Credit Loses”. ​ The following tables show the activity in the allowance for loan losses for the nine month periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ Small ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Business ​ Taxi ​ business and ​ ​ ​ (In thousands) residential real estate property residential loans Administration medallion other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,391 ​ $ 4,429 ​ $ 1,817 ​ $ 756 ​ $ 441 ​ $ 363 ​ $ — ​ $ 8,554 ​ $ 21,751 Impact of CECL Adoption ​ ​ (650) ​ 1,170 ​ (55) ​ (160) ​ (279) ​ 1,180 ​ — ​ (827) ​ ​ 379 Charge-off's ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — ​ ​ (178) ​ ​ (951) ​ ​ (2,121) ​ (3,253) Recoveries ​ 27 ​ — ​ 138 ​ 10 ​ — ​ 67 ​ — ​ 18 ​ 260 Provision ​ 2,628 ​ 2,948 ​ (219) ​ 74 ​ 56 ​ 451 ​ 951 ​ 12,317 ​ 19,206 Ending balance ​ $ 7,396 ​ $ 8,547 ​ $ 1,678 ​ $ 680 ​ $ 218 ​ $ 1,883 ​ $ — ​ $ 17,941 ​ $ 38,343 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ Small ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Business ​ Taxi ​ business and ​ ​ ​ (In thousands) residential real estate property residential loans Administration medallion 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 ​ See also Note 17 for the adoption of ASC Topic 326, “Credit Loses”. ​ ​ ​ ​ 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 fall within one of the previous mentioned categories and management believes weakness is evident then we designate the loan as “Watch”, all other loans would be considered “Pass.” Loans that are non-accrual are designated as Substandard, Doubtful or Loss. These loan designations are updated quarterly. We designate a loan as Substandard when a well-defined weakness is identified that may jeopardize the orderly liquidation of the debt. We designate a loan Doubtful when it displays the inherent weakness of a Substandard loan with the added provision that collection of the debt in full, on the basis of existing facts, is highly improbable. We designate a loan as Loss if it is deemed the debtor is incapable of repayment. The Company does not hold any loans designated as Loss, as loans that are designated as Loss are charged to the Allowance for Credit Losses. We designate a loan as Special Mention if the asset does not warrant classification within one of the other classifications, but does contain a potential weakness that deserves closer attention. Loans that are in forbearance pursuant to the CARES Act, primarily continued to be reported in the same category as they were reported immediately prior to modification. ​ The following table summarizes the risk category of mortgage and non-mortgage loans by loan portfolio segments and class of loans by year of origination : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans, ​ ​ Lines of Credit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost ​ ​ converted to (In thousands) ​ ​ 2020 ​ ​ 2019 ​ ​ 2018 ​ ​ 2017 ​ ​ 2016 ​ ​ Prior ​ ​ Basis ​ ​ term loans 1-4 Family Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 22,735 ​ $ 25,030 ​ $ 27,827 ​ $ 15,548 ​ $ 11,231 ​ $ 59,657 ​ $ 7,678 ​ $ 18,095 Watch ​ ​ 489 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,936 ​ ​ 299 ​ ​ 2,011 Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 667 ​ ​ — ​ ​ 492 Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 960 ​ ​ 3,390 ​ ​ — ​ ​ 1,736 Total 1-4 Family Residential ​ $ 23,224 ​ $ 25,030 ​ $ 27,827 ​ $ 15,548 ​ $ 12,191 ​ $ 66,650 ​ $ 7,977 ​ $ 22,334 1-4 Family Mixed-Use ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 27,156 ​ $ 66,500 ​ $ 74,828 ​ $ 59,923 ​ $ 53,344 ​ $ 288,858 ​ $ — ​ $ — Watch ​ ​ — ​ ​ 1,873 ​ ​ 903 ​ ​ 2,013 ​ ​ 1,146 ​ ​ 8,556 ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ 379 ​ ​ — ​ ​ — ​ ​ 1,179 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ 620 ​ ​ 806 ​ ​ — ​ ​ — ​ ​ 1,514 ​ ​ — ​ ​ — Total 1-4 Family Mixed Use ​ $ 27,156 ​ $ 68,993 ​ $ 76,916 ​ $ 61,936 ​ $ 54,490 ​ $ 300,107 ​ $ — ​ $ — Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 118,019 ​ $ 248,812 ​ $ 281,920 ​ $ 189,592 ​ $ 213,553 ​ $ 482,495 ​ $ — ​ $ — Watch ​ ​ — ​ ​ 8,606 ​ ​ — ​ ​ 4,883 ​ ​ 28,203 ​ ​ 58,587 ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ 981 ​ ​ — ​ ​ 192 ​ ​ — ​ ​ 861 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ 1,702 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,011 ​ ​ — ​ ​ — Total Commercial Real Estate ​ $ 118,019 ​ $ 260,101 ​ $ 281,920 ​ $ 194,667 ​ $ 241,756 ​ $ 542,954 ​ $ — ​ $ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 10,058 ​ $ 14,751 ​ $ 31,402 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Watch ​ ​ — ​ ​ 886 ​ ​ 5,631 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ 678 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total Construction ​ $ 10,058 ​ $ 15,637 ​ $ 37,711 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Multifamily ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 174,397 ​ $ 309,564 ​ $ 364,298 ​ $ 356,206 ​ $ 269,388 ​ $ 749,946 ​ $ 3,433 ​ $ — Watch ​ ​ — ​ ​ 1,571 ​ ​ — ​ ​ 2,537 ​ ​ 2,784 ​ ​ 19,504 ​ ​ 865 ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 699 ​ ​ 776 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ 1,999 ​ ​ — ​ ​ — ​ ​ 1,485 ​ ​ — ​ ​ — Total Multifamily ​ $ 174,397 ​ $ 311,135 ​ $ 366,297 ​ $ 358,743 ​ $ 272,871 ​ $ 771,711 ​ $ 4,298 ​ $ — Commercial Business - Secured by RE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 68,713 ​ $ 91,282 ​ $ 56,704 ​ $ 22,051 ​ $ 47,335 ​ $ 82,368 ​ $ — ​ $ — Watch ​ ​ — ​ ​ — ​ ​ 7,080 ​ ​ 1,320 ​ ​ — ​ ​ 416 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,331 ​ ​ — ​ ​ — Total Commercial Business - Secured by RE ​ $ 68,713 ​ $ 91,282 ​ $ 63,784 ​ $ 23,371 ​ $ 47,335 ​ $ 86,115 ​ $ — ​ $ — Commercial Business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 59,956 ​ $ 137,475 ​ $ 108,265 ​ $ 64,737 ​ $ 17,573 ​ $ 67,940 ​ $ 186,882 ​ $ — Watch ​ ​ — ​ ​ 2,889 ​ ​ 4,112 ​ ​ 7,880 ​ ​ — ​ ​ 10 ​ ​ 10,935 ​ ​ — Special Mention ​ ​ — ​ ​ 51 ​ ​ 2,411 ​ ​ — ​ ​ 2,418 ​ ​ — ​ ​ (26) ​ ​ — Substandard ​ ​ 39 ​ ​ — ​ ​ — ​ ​ 4,810 ​ ​ — ​ ​ 1,711 ​ ​ 171 ​ ​ — Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 1,872 ​ ​ — Total Commercial Business ​ $ 59,995 ​ $ 140,415 ​ $ 114,788 ​ $ 77,427 ​ $ 19,991 ​ $ 69,661 ​ $ 199,834 ​ $ — Small Business Administration ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 110,121 ​ $ 1,067 ​ $ 3,590 ​ $ 1,043 ​ $ 2,551 ​ $ 1,625 ​ $ — ​ $ — Watch ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,257 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 50 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,169 ​ ​ 7 ​ ​ — ​ ​ — ​ ​ — Total Small Business Administration ​ $ 110,121 ​ $ 1,067 ​ $ 3,590 ​ $ 4,469 ​ $ 2,558 ​ $ 1,675 ​ $ — ​ $ — Taxi Medallions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Substandard ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,318 ​ $ — ​ $ — Total Taxi Medallions ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,318 ​ $ — ​ $ — Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 136 ​ $ 99 ​ $ — Total Other ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 136 ​ $ 99 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ $ 591,683 ​ $ 913,660 ​ $ 972,833 ​ $ 736,161 ​ $ 651,192 ​ $ 1,841,327 ​ $ 212,208 ​ $ 22,334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table sets forth the recorded investment in loans designated as Criticized or Classified at the period indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential ​ $ 1,563 ​ $ 2,743 ​ $ — ​ $ — ​ $ 4,306 Commercial real estate ​ 5,525 ​ 367 ​ — ​ — ​ 5,892 One-to-four family - mixed-use property ​ 1,585 ​ 453 ​ — ​ — ​ 2,038 One-to-four family - residential ​ 1,095 ​ 5,787 ​ — ​ — ​ 6,882 Construction ​ — ​ — ​ — ​ —

Loans Held for Sale

Loans Held for Sale9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Loans held for sale6. Loans held for sale Loans held for sale are carried at the lower of cost or estimated fair value. At September 30, 2020 and December 31, 2019, the Bank did not have any loans held for sale. 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 contingencies or recourse to the Company and servicing is released to the buyer. Additionally, at times the Company may sell participating interests in performing loans. There were no loan sales for three months ended September 30, 2020. 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 nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ Net Recoveries ​ ​ (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans ​ ​ ​ Multi-family residential 1 ​ $ 284 ​ $ — ​ $ 42 One-to-four family - mixed-use property 1 ​ 296 ​ — ​ — Total 2 ​ $ 580 ​ $ — ​ $ 42 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Net Recoveries ​ ​ ​ (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain (loss) Delinquent and non-performing loans ​ ​ ​ Multi-family residential 3 ​ $ 1,465 ​ $ — ​ $ 267 One-to-four family - mixed-use property ​ 1 ​ ​ 405 ​ ​ (1) ​ ​ — Commercial real estate 1 ​ $ 3,248 ​ $ — ​ $ — Total 5 ​ $ 5,118 ​ $ (1) ​ $ 267 Performing loans ​ ​ ​ Small Business Administration 3 ​ $ 2,069 ​ $ — ​ $ 114 Total 3 ​ $ 2,069 ​ $ — ​ $ 114 ​

Other Real Estate Owned

Other Real Estate Owned9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Other Real Estate Owned7. Other Real Estate Owned The following table shows changes in Other Real Estate Owned (“OREO”) during the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Balance at beginning of period ​ $ 208 ​ $ 239 ​ $ 239 ​ $ — Acquisitions ​ — ​ — ​ — ​ 239 Reductions to carrying value ​ — ​ — ​ (31) ​ — Sales ​ ​ (208) ​ ​ — ​ ​ (208) ​ ​ — 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, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Gross gains ​ $ — ​ $ — ​ $ — ​ $ — Gross losses ​ (5) ​ — ​ (5) ​ — Write-down of carrying value ​ — ​ — ​ (31) ​ — Total income ​ $ (5) ​ $ — ​ $ (36) ​ $ — ​ Included within net loans as of September 30, 2020 and December 31, 2019 were $6.1 million and $6.6 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction.

Leases

Leases9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Leases8. Leases The Company has 22 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 two months to 15 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term. During the third quarter of 2020, the Company entered into one new branch lease, which is expected to open in the fourth quarter of 2020. Additionally, the Company executed an extension for one of its current branches and reduced office space at another location. ​ The Company has elected the short-term lease recognition exemption such that the Company will not recognize Right-Of-Use (“ROU”) assets or lease liabilities for leases with a term of less than 12 months from the commencement date. The Company’s operating lease expense totaled $1.9 million and was recorded in Occupancy and equipment on the Consolidated Statements of Income for each of the three month periods ended September 30, 2020 and 2019. The Company’s operating lease expense totaled $5.7 million and was recorded in Occupancy and equipment on the Consolidated Statements of Income for each of the nine month periods ended September 30, 2020 and 2019. ​ The Company has one agreement that qualifies as a short-term lease with expense totaling approximately $34,000 for each of the three month periods ended September 30, 2020 and 2019 and approximately $102,000 for each of the nine month periods ended September 30, 2020 and 2019, included in Professional services on the Consolidated Statements of Income. The Company has $0.3 million and $0.2 million in variable lease payments, which include insurance and real estate tax expenses and was recorded in Occupancy and equipment on the Consolidated Statements of Income, for the three months ended September 30, 2020 and 2019, respectively. The Company has $0.8 million and $0.6 million in variable lease payments, which include insurance and real estate tax expenses and was recorded in Occupancy and equipment on the Consolidated Statements of Income, for the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020, the weighted-average remaining lease term for our operating leases is approximately eight years ​ Certain leases have escalation clauses for operating expenses and real estate taxes. The Company’s non-cancelable operating lease agreements expire through 2036. ​ Supplemental balance sheet information related to leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) ​ September 30, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease ROU assets ​ $ 42,326 ​ $ 41,254 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ $ 49,737 ​ $ 49,367 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term-operating leases ​ 8.2 years ​ 8.0 years ​ Weighted average discount rate-operating leases ​ 3.6 % 3.8 % ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of lease expense and cash flow information related to leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ (Dollars in thousands) ​ September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Cost ​ ​ ​ Operating lease cost ​ $ 1,895 ​ $ 1,891 ​ Short-term lease cost ​ 34 ​ 34 ​ Variable lease cost ​ 281 ​ 267 ​ Total lease cost ​ $ 2,210 ​ $ 2,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Operating cash flows from operating leases ​ $ 2,101 ​ $ 2,002 ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 6,772 ​ $ 1,253 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended (Dollars in thousands) ​ September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Lease Cost ​ ​ Operating lease cost ​ $ 5,676 ​ $ 5,676 Short-term lease cost ​ 102 ​ 102 Variable lease cost ​ 832 ​ 757 Total lease cost ​ $ 6,610 ​ $ 6,535 ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 6,283 ​ $ 6,052 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 6,822 ​ $ 1,295 ​ The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows as of September 30, 2020: ​ ​ ​ ​ ​ ​ ​ Minimum Rental ​ ​ (In thousands) Years ended December 31: ​ ​ ​ 2020 ​ $ 1,715 2021 ​ ​ 7,739 2022 ​ ​ 7,491 2023 ​ ​ 7,612 2024 ​ ​ 7,650 Thereafter ​ ​ 24,935 Total minimum payments required ​ ​ 57,142 Less: Implied interest ​ ​ 7,405 Total lease obligations ​ $ 49,737 ​

Stock-based Compensation

Stock-based Compensation9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Stock-Based Compensation9. Stock-Based Compensation On January 31, 2019, the Board of Directors approved a 2019 long-term incentive compensation program for certain Company executive officers that includes grants of performance-based restricted stock units (“PRSUs”) in addition to time-based restricted stock units (“RSU”). Under the terms of the PRSU Agreement, the number of PRSUs that may be earned depends on the extent to which performance goals for the award are achieved over a three-year performance period, as determined by the Compensation Committee of the Board. The number of PRSUs that may be earned ranges from 0% to 150% of the target award, with no PRSUs earned for below threshold-level performance, 50% of PRSUs earned for threshold-level performance, 100% of PRSUs earned for target-level performance, and 150% of PRSUs earned for maximum-level performance. As of September 30, 2020, PRSU’s granted in 2020 are being accrued at target and PRSU’s granted in 2019 are being accrued above target. The different levels of accrual are commensurate with the projected performance of the respective grant. For the three months ended September 30, 2020 and 2019, the Company’s net income, as reported, included $0.9 million and $1.2 million, respectively, of stock-based compensation costs, including the benefit or expense of phantom stock awards, and $0.2 million and $0.2 million of income tax benefits, respectively, related to the stock-based compensation plans. For the nine months ended September 30, 2020 and 2019, the Company’s net income, as reported, included $4.3 million and $6.5 million, respectively, of stock-based compensation costs, including the benefit or expense of phantom stock awards, and $1.0 million and $1.5 million of income tax benefits, respectively, related to the stock-based compensation plans. During the three months ended September 30, 2020, and 2019, the Company did not grant any RSU awards. During the three months ended September 30, 2020, the Company did not grant any PRSU awards. During the three months ended September 30, 2019, the Company granted 8,260 in PRSU awards. During the nine months ended September 30, 2020 and 2019, the Company granted 172,728 and 263,574 in RSU awards, respectively. During the nine months ended September 30, 2020 and 2019, the Company granted 72,143 and 66,130 in PRSU awards, respectively. The Company has not granted stock options since 2009 and at September 30, 2020, had none outstanding. 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 months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSU Awards PRSU Awards ​ ​ ​ Weighted-Average ​ ​ Weighted-Average ​ ​ ​ Grant-Date ​ ​ Grant-Date ​ Shares Fair Value Shares Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2019 428,295 ​ $ 24.42 34,186 ​ $ 22.38 Granted 172,728 ​ 19.66 72,143 ​ 20.38 Vested (241,246) ​ 22.38 (35,149) ​ 20.54 Forfeited (5,545) ​ 24.62 — ​ — Non-vested at September 30, 2020 354,232 ​ $ 23.48 71,180 ​ $ 21.26 Vested but unissued at September 30, 2020 217,642 ​ $ 23.26 62,515 ​ $ 21.35 ​ As of September 30, 2020, there was $6.3 million of total unrecognized compensation cost related to RSU and PRSU awards granted. That cost is expected to be recognized over a weighted-average period of 2.5 years. The total fair value of awards vested for the three months ended September 30, 2020 and 2019 was $0.2 million and $0.7 million, respectively. The total fair value of awards vested for the nine months ended September 30, 2020 and 2019 was $5.2 million and $6.9 million, respectively. The vested but unissued RSU and PRSU awards consist of awards made to employees and directors who are eligible for retirement. According to the terms of these awards, which provide for vesting upon retirement, these employees and directors have no risk of forfeiture. These shares will be issued at the original contractual vesting and settlement dates. Phantom Stock Plan: The following table summarizes the Phantom Stock Plan at or for the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2019 109,226 ​ $ 21.61 Granted 10,392 ​ 14.58 Distributions (890) ​ 11.73 Outstanding at September 30, 2020 118,728 ​ $ 10.52 Vested at September 30, 2020 118,677 ​ $ 10.52 ​ The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $0.1 million and $0.2 million for the three months ended September 30, 2020 and 2019, respectively. The total fair value of the distributions from the Phantom Stock Plan was $3,000 and less than $1,000 for the three months ended September 30, 2020 and 2019, respectively. The Company recorded stock-based compensation benefit for the Phantom Stock Plan of $1.2 million and $0.1 million for the nine months ended September 30, 2020 and 2019, respectively. The total fair value of the distributions from the Phantom Stock Plan was less than $10,000 and $23,000 for the nine months ended September 30, 2020 and 2019, respectively.

Pension and Other Postretiremen

Pension and Other Postretirement Benefit Plans9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Pension and Other Postretirement Benefit Plans10. Pension and Other Postretirement Benefit Plans The following table sets forth information regarding the components of net expense for the pension and other postretirement benefit plans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Nine months ended ​ September 30, September 30, (In thousands) 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee Pension Plan: ​ ​ ​ ​ Interest cost ​ $ 163 ​ $ 199 ​ $ 489 ​ $ 597 Amortization of actuarial loss ​ 111 ​ 68 ​ 333 ​ 201 Expected return on plan assets ​ (257) ​ (272) ​ (771) ​ (816) Net employee pension expense (benefit) ​ $ 17 ​ $ (5) ​ $ 51 ​ $ (18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outside Director Pension Plan: ​ ​ ​ ​ Service cost ​ $ 4 ​ $ 10 ​ $ 11 ​ $ 30 Interest cost ​ 16 ​ 21 ​ 48 ​ 63 Amortization of actuarial gain ​ (14) ​ (35) ​ (41) ​ (105) Amortization of past service liability ​ — ​ — ​ — ​ — Net outside director pension expense (benefit) ​ $ 6 ​ $ (4) ​ $ 18 ​ $ (12) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans: ​ ​ ​ ​ Service cost ​ $ 69 ​ $ 70 ​ $ 206 ​ $ 210 Interest cost ​ 64 ​ 85 ​ 194 ​ 255 Amortization of past service credit ​ (21) ​ (22) ​ (64) ​ (64) Net other postretirement expense ​ $ 112 ​ $ 133 ​ $ 336 ​ $ 401 ​ The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2019 that it expects to contribute $0.3 million to each of the Outside Director Pension Plan (the “Outside Director Pension Plan”) and the other

Fair Value of Financial Instrum

Fair Value of Financial Instruments9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Fair Value of Financial Instruments11. 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, 2020, the Company carried financial assets and financial liabilities under the fair value option with fair values of $14.5 million and $38.3 million, respectively. At December 31, 2019, the Company carried financial assets and financial liabilities under the fair value option with fair values of $14.3 million and $44.4 million, respectively. The Company did not elect to carry any additional financial assets or financial liabilities under the fair value option during the three and nine months ended September 30, 2020 and 2019. 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) 2020 2019 September 30, 2020 September 30, 2019 September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 672 ​ $ 772 ​ $ (1) ​ $ — ​ $ 1 ​ $ 2 Other securities ​ 13,841 ​ 13,548 ​ 83 ​ 107 ​ 120 ​ 470 Borrowed funds ​ 38,287 ​ 44,384 ​ (2,897) ​ (599) ​ 5,086 ​ (2,353) Net gain (loss) from fair value adjustments (1)(2) ​ ​ ​ ​ ​ ​ ​ $ (2,815) ​ $ (492) ​ $ 5,207 ​ $ (1,881) (1) The net gain (loss) from fair value adjustments presented in the above table does not include net gains (losses) of $0.6 million and ($1.6) million for the three months ended September 30, 2020 and 2019, respectively, from the change in the fair value of interest rate swaps. (2) The net gain (loss) from fair value adjustments presented in the above table does not include net losses of $3.2 million and $4.3 million for the nine months ended September 30, 2020 and 2019, respectively, from the change in the fair value of interest rate swaps. 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, 2020 and December 31, 2019. The fair value of borrowed funds includes accrued interest payable of $0.1 million and $0.2 million at September 30, 2020 and December 31, 2019, respectively. 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 reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular instrument. Accordingly, as assumptions change, such as interest rates and prepayments, fair value estimates change and these amounts may not necessarily be realized in an immediate sale. Disclosure of fair value does not require fair value information for items that do not meet the definition of a financial instrument or certain other financial instruments specifically excluded from its requirements. These items include core deposit intangibles and other customer relationships, premises and equipment, leases, income taxes and equity. Further, fair value disclosure does not attempt to value future income or business. These items may be material and accordingly, the fair value information presented does not purport to represent, nor should it be construed to represent, the underlying “market” or franchise value of the Company. Financial assets and financial liabilities reported at fair value are required to be measured based on either: (1) quoted prices in active markets for identical financial instruments (Level 1); (2) significant other observable inputs (Level 2); or (3) significant unobservable inputs (Level 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 – when quoted market prices are available in an active market. At September 30, 2020 and December 31, 2019, Level 1 included one mutual fund. Level 2 – when quoted market prices are not available, fair value is estimated using quoted market prices for similar financial instruments and adjusted for differences between the quoted instrument and the instrument being valued. Fair value can also be estimated by using pricing models, or discounted cash flows. Pricing models primarily use market-based or independently sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices and credit spreads. In addition to observable market information, models also incorporate maturity and cash flow assumptions. At September 30, 2020 and December 31, 2019, Level 2 included mortgage-backed securities, CLO’s, corporate debt, municipals and interest rate swaps. Level 3 – when there is limited activity or less transparency around inputs to the valuation, financial instruments are classified as Level 3. At September 30, 2020 and December 31, 2019, Level 3 included trust preferred securities owned and junior subordinated debentures issued by the Company. The methods described above may produce fair values that may not be indicative of net realizable value or reflective of future fair values. While the Company believes its valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies, assumptions and models to determine fair value of certain financial instruments could produce different estimates of fair value at the reporting date. The following table sets forth the Company’s assets and liabilities that are carried at fair value on a recurring basis, including those reported at fair value under the fair value option, and the level that was used to determine their fair value, at September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 2020 2019 2020 2019 2020 2019 2020 2019 ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed Securities ​ $ — ​ $ — ​ $ 386,235 ​ $ 523,849 ​ $ — ​ $ — ​ $ 386,235 ​ $ 523,849 Other securities ​ 12,691 ​ 12,216 ​ 220,881 ​ 235,103 ​ 1,149 ​ 1,332 ​ 234,721 ​ 248,651 Interest rate swaps ​ — ​ — ​ 416 ​ 2,352 ​ — ​ — ​ 416 ​ 2,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 12,691 ​ $ 12,216 ​ $ 607,532 ​ $ 761,304 ​ $ 1,149 ​ $ 1,332 ​ $ 621,372 ​ $ 774,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Borrowings ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 38,287 ​ $ 44,384 ​ $ 38,287 ​ $ 44,384 Interest rate swaps ​ — ​ — ​ 69,595 ​ 19,653 ​ — ​ — ​ 69,595 ​ 19,653 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ​ $ — ​ $ — ​ $ 69,595 ​ $ 19,653 ​ $ 38,287 ​ $ 44,384 ​ $ 107,882 ​ $ 64,037 ​ The following tables set forth the Company’s assets and liabilities that are carried at fair value on a recurring basis, classified within Level 3 of the valuation hierarchy for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ ​ September 30, 2020 ​ September 30, 2019 ​ ​ Trust preferred ​ Junior subordinated ​ Trust preferred ​ Junior subordinated ​ securities debentures securities debentures ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,068 ​ $ 35,570 ​ $ 1,303 ​ $ 43,414 Net (loss) gain from fair value adjustment of financial assets (1) ​ 82 ​ — ​ 15 ​ — Net (gain) loss from fair value adjustment of financial liabilities (1) ​ — ​ 2,897 ​ — ​ 599 Decrease in accrued interest receivable ​ ​ (1) ​ ​ — ​ ​ — ​ ​ — Decrease in accrued interest payable ​ — ​ (19) ​ — ​ (15) Change in unrealized gains included in other comprehensive income ​ — ​ (161) ​ — ​ (88) Ending balance ​ $ 1,149 ​ $ 38,287 ​ $ 1,318 ​ $ 43,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in unrealized gains held at period end ​ $ — ​ 2,384 ​ — ​ 1,513 (1) Totals in the table above are presented in the Consolidated Statements of Income under net gain (loss) from fair value adjustments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2020 ​ September 30, 2019 ​ ​ Trust preferred ​ Junior subordinated ​ Trust preferred ​ Junior subordinated ​ securities debentures securities debentures ​ (In thousands) Beginning balance ​ $ 1,332 ​ $ 44,384 ​ $ 1,256 ​ $ 41,849 Net (loss) gain from fair value adjustment of financial assets (1) ​ (180) ​ — ​ 64 ​ — Net (gain) loss from fair value adjustment of financial liabilities (1) ​ — ​ (5,086) ​ — ​ 2,353 Decrease in accrued interest receivable ​ ​ (3) ​ ​ — ​ ​ (2) ​ ​ — Decrease in accrued interest payable ​ — ​ (104) ​ — ​ (27) Change in unrealized gains included in other comprehensive income ​ — ​ (907) ​ — ​ (265) Ending balance ​ $ 1,149 ​ $ 38,287 ​ $ 1,318 ​ $ 43,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in unrealized gains held at period end ​ $ — ​ 2,384 ​ — ​ 1,513 (1) Totals in the table above are presented in the Consolidated Statements of Income under net gain (loss) from fair value adjustments. ​ During the three and nine months ended September 30, 2020 and 2019, there were no transfers between Levels 1, 2 and 3. ​ The following tables present the quantitative information about recurring Level 3 fair value of financial instruments and the fair value measurements at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ ​ (Dollars in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ $ 1,149 Discounted cash flows Discount rate n/a 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior subordinated debentures ​ $ 38,287 Discounted cash flows Discount rate n/a 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ (Dollars in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ $ 1,332 Discounted cash flows Discount rate n/a 4.2 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior subordinated debentures ​ $ 44,384 Discounted cash flows Discount rate n/a 4.2 % ​ 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 at September 30, 2020 and December 31, 2019, are the effective yields used in the cash flow models. Significant increases or decreases in the effective yield in isolation would result in a significantly lower or higher fair value measurement. The following table sets forth the Company’s assets and liabilities that are carried at fair value on a non-recurring basis and the level that was used to determine their fair value at September 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 2020 2019 2020 2019 2020 2019 2020 2019 ​ (In thousands) Assets ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,167 ​ $ 1,081 ​ $ 4,167 ​ $ 1,081 Other real estate owned ​ — ​ — ​ — ​ — ​ — ​ 239 ​ — ​ 239 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,167 ​ $ 1,320 ​ $ 4,167 ​ $ 1,320 ​ The following tables present the qualitative information about non-recurring Level 3 fair value of financial instruments and the fair value measurements at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ (Dollars in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ 2,112 Sales approach Reduction for planned expedited disposal (100.0%) to 15.0% ​ (74.0%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ 2,055 Discounted Cash flow Discount Rate 4.3% to 6.4% ​ 5.1% ​ ​ ​ ​ ​ ​ ​ Probability of Default ​ 20.0% to 35.0% ​ 29.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2019 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ (Dollars in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 809 Discounted Cash flow Discount Rate 6.4% ​ 6.4% ​ ​ ​ ​ ​ Probability of Default ​ 20.0% ​ 20.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 272 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales (10.0%) to 15.0% ​ 2.5% ​ ​ ​ ​ ​ ​ ​ Capitalization Rate ​ 9.5% ​ 9.5% ​ ​ ​ ​ ​ ​ ​ Reduction for planned expedited disposal ​ 15.0% ​ 15.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other real estate owned ​ $ 239 Sales approach Reduction for planned expedited disposal 0.5% to 12.5% ​ 6.5% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company did not have any liabilities that were carried at fair value on a non-recurring basis at September 30, 2020 and December 31, 2019. The methods and assumptions used to estimate fair value at September 30, 2020 and December 31, 2019 are as follows: Securities: The fair values of securities are contained in Note 4 (“Securities”) of the Notes to Consolidated Financial Statements. Fair value is based upon quoted market prices, where available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities and adjusted for differences between the quoted instrument and the instrument being valued. When there is limited activity or less transparency around inputs to the valuation, securities are valued using discounted cash flows. Non-accrual 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 recent sale activity, the fair value is calculated using capitalization rates. See Note 5 (“Loans”) of the Notes to the Consolidated Financial Statements. Junior Subordinated Debentures: The fair value of the junior subordinated debentures was developed using a credit spread based on stated spreads for recently issued subordinated debt instruments for issuers of similar asset size and credit quality of the Company and with similar durations 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. Other Real Estate Owned and Other Repossessed Assets: The fair value for OREO is based on appraised value through a current appraisal, or sometimes through an internal review, additionally adjusted by the estimated costs to sell the property. The fair value for other repossessed assets are based upon the most recently reported arm’s length sales transaction. When there is no recent sale activity, the fair value is calculated using capitalization rates. 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, 2020 ​ ​ Carrying ​ Fair ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Value Level 1 Level 2 Level 3 ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 75,560 ​ $ 75,560 ​ $ 75,560 ​ $ — ​ $ — Securities held-to-maturity ​ ​ ​ ​ ​ Mortgage-backed securities ​ 7,919 ​ 9,198 ​ — ​ 9,198 ​ — Other securities ​ 50,654 ​ 53,268 ​ — ​ — ​ 53,268 Securities available for sale ​ ​ ​ ​ ​ Mortgage-backed securities ​ 386,235 ​ 386,235 ​ — ​ 386,235 ​ — Other securities ​ 234,721 ​ 234,721 ​ 12,691 ​ 220,881 ​ 1,149 Loans ​ 5,941,398 ​ 6,030,154 ​ — ​ — ​ 6,030,154 FHLB-NY stock ​ 57,119 ​ 57,119 ​ — ​ 57,119 ​ — Accrued interest receivable ​ 36,068 ​ 36,068 ​ 1 ​ 1,473 ​ 34,594 Interest rate swaps ​ 416 ​ 416 ​ — ​ 416 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 4,963,495 ​ $ 4,970,920 ​ $ 3,911,851 ​ $ 1,059,069 ​ $ — Borrowings ​ 1,323,975 ​ 1,333,147 ​ — ​ 1,294,860 ​ 38,287 Accrued interest payable ​ 6,111 ​ 6,111 ​ — ​ 6,111 ​ — Interest rate swaps ​ 69,595 ​ 69,595 ​ — ​ 69,595 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Carrying ​ Fair ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Value Level 1 Level 2 Level 3 ​ ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 49,787 ​ $ 49,787 ​ $ 49,787 ​ $ — ​ $ — Securities held-to-maturity ​ ​ ​ ​ ​ Mortgage-backed securities ​ 7,934 ​ 8,114 ​ — ​ 8,114 ​ — Other securities ​ 50,954 ​ 53,998 ​ — ​ — ​ 53,998 Securities available for sale ​ ​ ​ ​ ​ Mortgage-backed securities ​ 523,849 ​ 523,849 ​ — ​ 523,849 ​ — Other securities ​ 248,651 ​ 248,651 ​ 12,216 ​ 235,103 ​ 1,332 Loans ​ 5,772,206 ​ 5,822,124 ​ — ​ — ​ 5,822,124 FHLB-NY stock ​ 56,921 ​ 56,921 ​ — ​ 56,921 ​ — Accrued interest receivable ​ 25,722 ​ 25,722 ​ 9 ​ 2,519 ​ 23,194 Interest rate swaps ​ 2,352 ​ 2,352 ​ — ​ 2,352 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 5,066,424 ​ $ 5,070,046 ​ $ 3,628,534 ​ $ 1,441,512 ​ $ — Borrowings ​ 1,237,231 ​ 1,389,883 ​ — ​ 1,345,499 ​ 44,384 Accrued interest payable ​ 6,752 ​ 6,752 ​ — ​ 6,752 ​ — Interest rate swaps ​ 19,653 ​ 19,653 ​ — ​ 19,653 ​ — ​

Derivative Financial Instrument

Derivative Financial Instruments9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Derivative Financial Instruments12. Derivative Financial Instruments At September 30, 2020 and December 31, 2019, the Company’s derivative financial instruments consist of interest rate swaps. The Company’s interest rate swaps are used for four purposes: 1) to mitigate the Company’s exposure to rising interest rates on a portion ($18.0 million) of its floating rate junior subordinated debentures that have a contractual value of $61.9 million, at September 30, 2020 and December 31, 2019; 2) to mitigate the Company’s exposure to rising interest rates on certain fixed rate loans totaling $318.6 million and $326.0 million at September 30, 2020 and December 31, 2019, respectively; 3) to facilitate risk management strategies for our loan customers with $41.2 million of swaps outstanding, which include $20.6 million with customers and $20.6 million were from bank counterparties at September 30, 2020 and 4) to mitigate exposure to rising interest rates on certain short-term advances totaling $1,021.5 million and $541.5 million at September 30, 2020 and December 31, 2019, respectively. At September 30, 2020 and December 31, 2019, we held derivatives designated as cash flow hedges, fair value hedges and certain derivatives not designated as hedges. 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 it qualifies and has been designated as a hedge for accounting purposes, and further, by the type of hedging relationship. At September 30, 2020 and December 31, 2019, derivatives with a combined notional amount of $59.2 million and $18.0 million, respectively, were not designated as hedges. At September 30, 2020 and December 31, 2019, derivatives with a combined notional amount of $318.6 million and $326.0 million, respectively, were designated as fair value hedges. At September 30, 2020 and December 31, 2019, derivatives with a combined notional amount of $1,021.5 million and $541.5 million, respectively, were designated as cash flow hedges. For cash flow hedges, the changes in the fair value of the derivative is reported in accumulated other comprehensive income (loss), net of tax. Amounts in accumulated other comprehensive income (loss) are reclassified into earnings in the same period during which the hedged forecasted transaction effects earnings. During the three months ended September 30, 2020 and 2019, $1.4 million and $0.4 million, respectively, were reclassified from accumulated other comprehensive loss to interest expense. During the nine months ended September 30, 2020 and 2019, $2.1 million and $1.3 million, respectively, were reclassified from accumulated other comprehensive loss to interest expense. The estimated amount to be reclassified in the next 12 months out of the accumulated comprehensive income (loss) into earnings is $2.9 million. Changes in the fair value of interest rate swaps not designated as hedges are reflected in “Net gain/loss from fair value adjustments” in the Consolidated Statements of Income. The following table sets forth information regarding the Company’s derivative financial instruments at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ Notional ​ Net Carrying ​ Notional ​ Net Carrying ​ Amount Value (1) Amount Value (1) ​ ​ (In thousands) Interest rate swaps (fair value hedge) ​ $ — ​ $ — ​ $ 139,960 ​ $ 2,352 Interest rate swaps (non-hedge) ​ 20,600 ​ 416 ​ — ​ — Interest rate swaps (fair value hedge) ​ 318,569 ​ (34,078) ​ 186,009 ​ (7,769) Interest rate swaps (cash flow hedge) ​ 1,021,500 ​ (28,527) ​ 541,500 ​ (8,350) Interest rate swaps (non-hedge) ​ 38,600 ​ (6,990) ​ 18,000 ​ (3,534) Total derivatives ​ $ 1,399,269 ​ $ (69,179) ​ $ 885,469 ​ $ (17,301) (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) Affected Line Item in the Statement Where Net income is Presented 2020 2019 2020 2019 Financial Derivatives: ​ ​ ​ ​ ​ ​ Other interest expense ​ $ (132) ​ $ (38) ​ $ (298) ​ $ (87) ​ Net gain (loss) from fair value adjustments ​ ​ 590 ​ ​ (1,632) ​ ​ (3,220) ​ ​ (4,279) Interest rate swaps (non-hedge) ​ ​ ​ 458 ​ ​ (1,670) ​ ​ (3,518) ​ ​ (4,366) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (fair value hedge) Interest and fees on loans ​ ​ (1,158) ​ ​ (1,041) ​ ​ (4,863) ​ ​ (1,833) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (cash flow hedge) Other interest expense ​ (2,511) ​ 301 ​ (4,057) ​ ​ 1,362 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ ​ $ (3,211) ​ $ (2,410) ​ $ (12,438) ​ $ (4,837) ​ The Company’s interest rate swaps are subject to master netting arrangements between the Company and its three designated counterparties. The Company has not made a policy election to offset its derivative positions. 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, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount Offset in ​ Net Amount of Assets ​ Condition ​ ​ ​ ​ ​ Gross Amount of ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ ​ (In thousands) Recognized Assets Condition Condition Instruments Received Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 416 ​ $ — ​ $ 416 ​ $ — ​ $ — $ 416 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ Gross Amount of ​ Gross Amount Offset in ​ Net Amount of Liabilities ​ Condition ​ ​ ​ ​ ​ Recognized ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ (In thousands) Liabilities Condition Condition Instruments Pledged Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 69,595 ​ $ — ​ $ 69,595 ​ $ 73,812 ​ $ 450 $ (4,667) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount Offset in ​ Net Amount of Assets ​ Condition ​ ​ ​ ​ ​ Gross Amount of ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ ​ (In thousands) Recognized Assets Condition Condition Instruments Received Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 2,352 ​ $ — ​ $ 2,352 ​ $ — ​ $ — $ 2,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ Gross Amount of ​ Gross Amount Offset in ​ Net Amount of Liabilities ​ Condition ​ ​ ​ ​ ​ Recognized ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ (In thousands) Liabilities Condition Condition Instruments Pledged Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 19,653 ​ $ — ​ $ 19,653 ​ $ 19,265 ​ $ — $ 388 ​

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Income Taxes13. Income Taxes Flushing Financial Corporation files consolidated Federal and combined New York State and New York City income tax returns with its subsidiaries, with the exception of the Company’s trusts, which file separate Federal income tax returns as trusts, and Flushing Preferred Funding Corporation, which files a separate Federal income tax return as a real estate investment trust. Additionally, the Bank files New Jersey State tax returns. As of September 30, 2020, the Company is undergoing examination for its New York State income tax returns for 2014, 2015 and 2016 and its New York City income tax return for 2015, 2016 and 2017. Income tax provisions are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ​ For the nine months ​ ​ ​ ended September 30, ​ ended September 30, ​ ​ 2020 2019 2020 2019 (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal: ​ ​ ​ ​ Current ​ $ 4,626 ​ $ 3,578 ​ $ 11,290 ​ $ 9,354 ​ Deferred ​ (1,267) ​ (1,121) ​ (2,635) ​ (1,973) ​ Total federal tax provision ​ 3,359 ​ 2,457 ​ 8,655 ​ 7,381 ​ State and Local: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ 1,491 ​ 1,345 ​ 2,975 ​ 2,518 ​ Deferred ​ (361) ​ (1,266) ​ (1,539) ​ (1,804) ​ Total state and local tax provision ​ 1,130 ​ 79 ​ 1,436 ​ 714 ​ Total income tax provision ​ $ 4,489 ​ $ 2,536 ​ $ 10,091 ​ $ 8,095 ​ ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Accumulated Other Comprehensive Income (Loss)14. Accumulated Other Comprehensive Income (Loss): The following tables sets forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2020 ​ 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 ​ $ (2,708) ​ $ (21,473) ​ $ (878) ​ $ 1,537 ​ $ (23,522) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications, net of tax ​ 3,185 ​ 937 ​ — ​ 111 ​ 4,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive income, net of tax ​ — ​ 929 ​ 52 ​ — ​ 981 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income, net of tax ​ 3,185 ​ 1,866 ​ 52 ​ 111 ​ 5,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, net of tax ​ $ 477 ​ $ (19,607) ​ $ (826) ​ $ 1,648 ​ $ (18,308) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 nine months ended September 30, 2020 ​ 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 ​ $ (3,982) ​ $ (5,863) ​ $ (983) ​ $ 1,021 ​ $ (9,807) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications, net of tax ​ 4,397 ​ (15,215) ​ — ​ 627 ​ (10,191) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive income, net of tax ​ 62 ​ 1,471 ​ 157 ​ — ​ 1,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income (loss), net of tax ​ 4,459 ​ (13,744) ​ 157 ​ 627 ​ (8,501) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, net of tax ​ $ 477 ​ $ (19,607) ​ $ (826) ​ $ 1,648 ​ $ (18,308) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (loss), net of tax ​ 10 ​ (868) ​ 22 ​ — ​ (836) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income, 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) ​ ​ 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, 2020 ​ 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 ​ $ (1,352) ​ Other interest expense ​ ​ 423 ​ Provision for income taxes ​ ​ $ (929) ​ Net of tax Amortization of defined benefit pension items: ​ ​ Actuarial losses ​ $ (97) (1) Other operating expense Prior service credits ​ 21 (1) Other operating expense ​ ​ (76) ​ Total before tax ​ ​ 24 ​ Provision for income taxes ​ ​ $ (52) ​ Net of tax ​ ​ ​ ​ ​ ​ ​ 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) ​ ​ ​ ​ ​ ​ 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 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 nine months ended September 30, 2020 ​ 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 losses on available for sale securities ​ $ (91) ​ Net loss on sale of securities ​ ​ 29 ​ Provision for income taxes ​ ​ $ (62) ​ Net of tax Cash flow hedges: ​ ​ Interest rate swaps ​ $ (2,140) ​ Other interest expense ​ ​ 669 ​ Tax benefit ​ ​ $ (1,471) ​ Net of tax Amortization of defined benefit pension items: ​ ​ Actuarial losses ​ $ (292) (1) Other operating expense Prior service credits ​ 64 (1) Other operating expense ​ ​ (228) ​ Total before tax ​ ​ 71 ​ Provision for income taxes ​ ​ $ (157) ​ 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 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 expense ​ ​ (389) ​ Provision for income taxes ​ ​ $ 868 ​ Net of tax ​ ​ ​ ​ ​ ​ Amortization of defined benefit pension items: ​ ​ ​ Actuarial 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 (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.

Regulatory Capital

Regulatory Capital9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Regulatory Capital15. Regulatory Capital Under current capital regulations, the Bank is required to comply with four separate capital adequacy standards. As of September 30, 2020, the Bank continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The Bank is also required to comply with a Capital Conservation Buffer (“CCB”). The CCB is designed to establish a capital range above minimum capital requirements and impose constraints on dividends, share buybacks and discretionary bonus payments when capital levels fall below prescribed levels. The minimum CCB is 2.50%. The CCB for the Bank at September 30, 2020 was 5.54%. Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ ​ ​ ​ Percent of ​ ​ ​ ​ Percent of ​ Amount Assets Amount Assets ​ (Dollars in thousands) ​ Tier I (leverage) capital: ​ ​ ​ Capital level ​ $ 694,041 9.93 % $ 680,749 9.65 % Requirement to be well capitalized ​ 349,453 5.00 ​ 352,581 5.00 ​ Excess ​ 344,588 4.93 ​ 328,168 4.65 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier I risk-based capital: ​ ​ ​ Capital level ​ $ 694,041 12.88 % $ 680,749 13.02 % Requirement to be well capitalized ​ 350,156 6.50 ​ 339,944 6.50 ​ Excess ​ 343,885 6.38 ​ 340,805 6.52 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 risk-based capital: ​ ​ ​ Capital level ​ $ 694,041 12.88 % $ 680,749 13.02 % Requirement to be well capitalized ​ 430,962 8.00 ​ 418,393 8.00 ​ Excess ​ 263,079 4.88 ​ 262,356 5.02 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total risk-based capital: ​ ​ ​ Capital level ​ $ 729,160 13.54 % $ 702,500 13.43 % Requirement to be well capitalized ​ 538,702 10.00 ​ 522,991 10.00 ​ Excess ​ 190,458 3.54 ​ 179,509 3.43 ​ ​ The Holding Company is subject to the same regulatory capital requirements as the Bank. As of September 30, 2020, the Holding Company continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The CCB for the Holding Company at September 30, 2020 was 5.71%. Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ ​ ​ ​ Percent of ​ ​ ​ ​ Percent of ​ Amount Assets Amount Assets ​ ​ (Dollars in thousands) Tier I (leverage) capital: ​ ​ ​ Capital level ​ $ 630,380 9.03 % $ 615,500 8.73 % Requirement to be well capitalized ​ 349,174 5.00 ​ 352,581 5.00 ​ Excess ​ 281,206 4.03 ​ 262,919 3.73 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier I risk-based capital: ​ ​ ​ Capital level ​ $ 593,344 11.02 % $ 572,651 10.95 % Requirement to be well capitalized ​ 349,826 6.50 ​ 339,929 6.50 ​ Excess ​ 243,518 4.52 ​ 232,722 4.45 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 risk-based capital: ​ ​ ​ Capital level ​ $ 630,380 11.71 % $ 615,500 11.77 % Requirement to be well capitalized ​ 430,555 8.00 ​ 418,374 8.00 ​ Excess ​ 199,825 3.71 ​ 197,126 3.77 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total risk-based capital: ​ ​ ​ Capital level ​ $ 740,499 13.76 % $ 712,251 13.62 % Requirement to be well capitalized ​ 538,194 10.00 ​ 522,967 10.00 ​ Excess ​ 202,305 3.76 ​ 189,284 3.62 ​ ​

Subsequent Events

Subsequent Events9 Months Ended
Sep. 30, 2020
Subsequent Events
Subsequent Events​ 16. Subsequent Events Effective close of business October 31, 2020, Flushing Financial Corporation completed its acquisition of Empire Bancorp, Inc. based in Islandia, NY. At the time of the merger, each outstanding share of Empire Bancorp., Inc. was converted into the right to receive $14.04 per share payable in in cash or 0.6548 shares of Flushing Financial Corporation common stock with total consideration consisting 50% in stock and 50% in cash. ​ Since the closing date of the acquisition occurred after the end of the period covered by this Quarterly Report on Form 10-Q, the Company's unaudited consolidated financial statements included do not reflect the consummation of acquisition. Flushing Financial Corporation ​ Merger-related expenses totaling $1.5 million were recorded in the nine months ended September 30, 2020. At September 30, 2020, Empire Bancorp, Inc. reported total loans of $672.3 million and total deposits of $803.0 million and operated 4 branch locations on Long Island. ​

New Authoritative Accounting Pr

New Authoritative Accounting Pronouncements9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
New Authoritative Accounting Pronouncements17. New Authoritative Accounting Pronouncements Accounting Standards Adopted in 2020: Effective January 1, 2020, the Company adopted Accounting Standards Topic 326, “Financial Instruments – Credit Losses” which replaced the previously existing U.S. GAAP “incurred loss” approach to “expected credit losses” approach, which is referred as Current Expected Credit Losses (“CECL”). CECL measures the credit loss associated with financial assets carried at amortize cost, including loan receivables, held-to-maturity debt securities, off balance sheet credit exposures and certain leases recognized by a lessor. CECL introduced the concept of purchased credit-deteriorated (PCD) financial assets, in which it requires the estimate of expected credit losses embedded in the purchase price of PCD assets to be estimated and separately recognized as an allowance as of the date of acquisition. It also modifies the accounting of impairment on available-for-sale debt securities by recognizing a credit loss through an allowance for credit. The Company adopted Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balances sheet exposures. Results for reporting periods beginning after January 1, 2020 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption we recorded a cumulative-effect adjustment to retained earnings totaling $1.3 million, $0.9 million, net of tax. The transition adjustment includes changes to the three applicable components of the ACL: increases of $0.4 million in the allowance for loan losses, $0.3 million in the allowance for held-to-maturity debt securities and $0.6 million in the allowance for off-balance sheet items. At January 1, 2020, the reasonable and supportable forecast indicated economic growth and low unemployment. Effective January 1, 2020, the Company adopted ASU No. 2018-13, “Fair Value Measurement (Topic 820)”. The Update modifies the disclosure requirements on fair value measurements in Topic 820. The guidance did not have a significant impact on the Company’s financial positions, results of operations or disclosures. Effective January 1, 2020, the Company adopted ASU No. 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The ASU simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under this ASU, the Company should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The impairment charge is limited to the amount of goodwill allocated to that reporting unit. The guidance did not have a significant impact on the Company’s financial positions, results of operations or disclosures. Accounting Standards Pending Adoption: In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-14, “Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20)” providing targeted improvements to the disclosures required for Defined Benefit Plans. The amendments in in this Update are effective for fiscal years ended after December 15, 2020. Early adoption is permitted. The amendments are to be applied on a retrospective basis to all periods presented. The guidance is not expected to have a significant impact on the Company’s financial positions, results of operations or disclosures. In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform” (Topic 848), which provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered "minor" so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or re-measurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 also provides numerous optional expedients for derivative accounting. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. We anticipate this ASU will simplify any modifications we execute between the selected start date (yet to be determined) and December 31, 2022 that are directly related to LIBOR transition by allowing prospective recognition of the continuation of the contract, rather than extinguishment of the old contract resulting in writing off unamortized fees/costs. We are evaluating the impacts of this ASU and have not yet determined whether LIBOR transition and this ASU will have material effects on our business operations and consolidated financial statements. The amendments in this Update apply to contract modifications that replace a reference rate reform and contemporaneous modifications of other terms related to the replacement of the reference rate. ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)9 Months Ended
Sep. 30, 2020
Earnings Per Share
Earnings Per Share​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2020 2019 2020 2019 ​ ​ (In thousands, except per share data) ​ Net income ​ $ 14,331 ​ $ 10,724 ​ $ 31,213 ​ $ 28,348 ​ Divided by: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 28,874 ​ 28,730 ​ 28,865 ​ 28,704 ​ Weighted average common stock equivalents ​ — ​ — ​ — ​ — ​ Total weighted average common shares outstanding and common stock equivalents ​ 28,874 ​ 28,730 ​ 28,865 ​ 28,704 ​ Basic earnings per common share ​ $ 0.50 ​ $ 0.37 ​ $ 1.08 ​ $ 0.99 ​ Diluted earnings per common share (1) ​ $ 0.50 ​ $ 0.37 ​ $ 1.08 ​ $ 0.99 ​ Dividend payout ratio ​ 42.0 % 56.8 % 58.3 % 63.6 % (1) For the three and nine months ended September 30, 2020 and 2019, there were no common stock equivalents that were anti-dilutive.

Securities (Tables)

Securities (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ for Credit ​ Cost Fair Value Gains Losses Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ ​ Municipals ​ $ 50,654 ​ $ 53,268 ​ $ 2,614 ​ $ — ​ $ (402) Total other securities ​ 50,654 ​ 53,268 ​ 2,614 ​ — ​ (402) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FNMA ​ 7,919 ​ 9,198 ​ 1,279 ​ — ​ — Total mortgage-backed securities ​ 7,919 ​ 9,198 ​ 1,279 ​ — ​ — Total ​ $ 58,573 ​ $ 62,466 ​ $ 3,893 ​ $ — ​ $ (402) ​ The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities held-to-maturity: ​ ​ ​ ​ Municipals ​ $ 50,954 ​ $ 53,998 ​ $ 3,044 ​ $ — Total other securities ​ 50,954 ​ 53,998 ​ 3,044 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FNMA ​ 7,934 ​ 8,114 ​ 180 ​ — Total mortgage-backed securities ​ 7,934 ​ 8,114 ​ 180 ​ — Total ​ $ 58,888 ​ $ 62,112 ​ $ 3,224 ​ $ — ​ The following table summarizes the Company’s portfolio of securities available for sale at September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate ​ $ 130,000 ​ $ 123,516 ​ $ 192 ​ $ 6,676 Municipals ​ 65 ​ 65 ​ — ​ — Mutual funds ​ 12,691 ​ 12,691 ​ — ​ — Collateralized loan obligations ​ 100,473 ​ 97,300 ​ — ​ 3,173 Other ​ 1,149 ​ 1,149 ​ — ​ — Total other securities ​ 244,378 ​ 234,721 ​ 192 ​ 9,849 REMIC and CMO ​ 206,973 ​ 213,941 ​ 7,007 ​ 39 GNMA ​ 505 ​ 554 ​ 49 ​ — FNMA ​ 129,140 ​ 132,001 ​ 2,883 ​ 22 FHLMC ​ 39,266 ​ 39,739 ​ 504 ​ 31 Total mortgage-backed securities ​ 375,884 ​ 386,235 ​ 10,443 ​ 92 Total securities available for sale ​ $ 620,262 ​ $ 620,956 ​ $ 10,635 ​ $ 9,941 ​ The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ Amortized ​ ​ ​ ​ Unrealized ​ Unrealized ​ Cost Fair Value Gains Losses ​ ​ (In thousands) Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate ​ $ 130,000 ​ $ 123,050 ​ $ — ​ $ 6,950 Municipals ​ 12,797 ​ 12,916 ​ 119 ​ — Mutual funds ​ 12,216 ​ 12,216 ​ — ​ — Collateralized loan obligations ​ 100,349 ​ 99,137 ​ — ​ 1,212 Other ​ 1,332 ​ 1,332 ​ — ​ — Total other securities ​ 256,694 ​ 248,651 ​ 119 ​ 8,162 REMIC and CMO ​ 348,236 ​ 348,989 ​ 2,193 ​ 1,440 GNMA ​ 653 ​ 704 ​ 51 ​ — FNMA ​ 104,235 ​ 104,882 ​ 1,073 ​ 426 FHLMC ​ 68,476 ​ 69,274 ​ 871 ​ 73 Total mortgage-backed securities ​ 521,600 ​ 523,849 ​ 4,188 ​ 1,939 Total securities available for sale ​ $ 778,294 ​ $ 772,500 ​ $ 4,307 ​ $ 10,101
Investments Classified by Contractual Maturity Date [Table Text Block]​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ ​ ​ Securities held-to-maturity: Cost Fair Value ​ (In thousands) Due after ten years ​ $ 50,654 ​ $ 53,268 Total other securities ​ ​ 50,654 ​ ​ 53,268 Mortgage-backed securities ​ ​ 7,919 ​ ​ 9,198 Total ​ $ 58,573 $ 62,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ ​ ​ Securities available for sale: Cost Fair Value ​ ​ (In thousands) Due after one year through five years ​ $ 45,000 ​ $ 43,654 Due after five years through ten years ​ 110,431 ​ 104,599 Due after ten years ​ ​ 76,256 ​ ​ 73,777 Total other securities ​ 231,687 ​ 222,030 Mutual funds ​ 12,691 ​ 12,691 Mortgage-backed securities ​ 375,884 ​ 386,235 Total ​ $ 620,262 ​ $ 620,956
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2020 ​ ​ 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 14 ​ $ 113,324 ​ $ 6,676 ​ $ — ​ $ — ​ $ 113,324 ​ $ 6,676 Collateralized loan obligations 13 ​ 97,299 ​ 3,173 ​ 7,293 ​ 183 ​ 90,006 ​ 2,990 Total other securities 27 ​ 210,623 ​ 9,849 ​ 7,293 ​ 183 ​ 203,330 ​ 9,666 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ REMIC and CMO 2 ​ 5,663 ​ 39 ​ 5,663 ​ 39 ​ — ​ — GNMA (1) 1 ​ 48 ​ — ​ 48 ​ — ​ — ​ — FNMA 1 ​ 8,652 ​ 22 ​ — ​ — ​ 8,652 ​ 22 FHLMC 1 ​ 13,449 ​ 31 ​ 13,449 ​ 31 ​ — ​ — Total mortgage-backed securities 5 ​ 27,812 ​ 92 ​ 19,160 ​ 70 ​ 8,652 ​ 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 32 ​ $ 238,435 ​ $ 9,941 ​ $ 26,453 ​ $ 253 ​ $ 211,982 ​ $ 9,688 (1) At September 30, 2020, the unrealized loss was less than $1,000 and in a continuous loss position for less than 12 months. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 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 ​ $ 123,050 ​ $ 6,950 ​ $ — ​ $ — ​ $ 123,050 ​ $ 6,950 Collateralized loan obligations 13 ​ 99,137 ​ 1,212 ​ 25,451 ​ 108 ​ 73,686 ​ 1,104 Total other securities 29 ​ 222,187 ​ 8,162 ​ 25,451 ​ 108 ​ 196,736 ​ 8,054 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ REMIC and CMO 23 ​ 120,989 ​ 1,440 ​ 102,384 ​ 1,117 ​ 18,605 ​ 323 GNMA 1 ​ 49 ​ — ​ 49 ​ — ​ — ​ — FNMA 8 ​ 67,618 ​ 426 ​ 19,073 ​ 138 ​ 48,545 ​ 288 FHLMC 1 ​ 30,200 ​ 73 ​ — ​ — ​ 30,200 ​ 73 Total mortgage-backed securities 33 ​ 218,856 ​ 1,939 ​ 121,506 ​ 1,255 ​ 97,350 ​ 684 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total securities available for sale 62 ​ $ 441,043 ​ $ 10,101 ​ $ 146,957 ​ $ 1,363 ​ $ 294,086 ​ $ 8,738
Schedule of allowance for credit losses for debt securities held-to-maturityThe following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ Other securities ​ ​ ​ (In thousands) ​ Beginning balance ​ $ — ​ $ 402 ​ Provision ​ ​ — ​ ​ — ​ Allowance for credit losses - securities ​ $ — ​ $ 402 ​ ​ The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the nine months ended September 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ Other securities ​ ​ (In thousands) Beginning balance ​ $ — ​ $ — CECL adoption ​ ​ — ​ ​ 340 Provision ​ ​ — ​ ​ 62 Allowance for credit losses - securities ​ $ — ​ $ 402
Schedule of Realized Gain (Loss) [Table Text Block]​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Gross gains from the sale of securities ​ $ — ​ $ — ​ $ 1,476 ​ $ 423 Gross losses from the sale of securities ​ — ​ — ​ (1,567) ​ (438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net losses from the sale of securities ​ $ — ​ $ — ​ $ (91) ​ $ (15)

Loans (Tables)

Loans (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of TDR loan modifications​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three and nine months ended ​ ​ September 30, 2020 ​ September 30, 2019 (Dollars in thousands) Number Balance Modification description Number Balance Modification description One-to-four family - mixed-use property ​ 1 ​ $ 270 ​ Below market interest rate. ​ — ​ ​ — ​ ​ Commercial business and other — ​ ​ — ​ 3 ​ $ 951 Amortization extension Total 1 ​ $ 270 3 ​ $ 951
Schedule of non-accrual loans at amortized cost with no related allowance and interest income recognized for loans ninety days or more past due and still accruing​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At or for the nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ Non-Accrual ​ ​ ​ ​ ​ Loans ninety days ​ ​ ​ Total Non-Accrual ​ ​ with no related ​ ​ Interest Income ​ ​ or more past due (In thousands) ​ ​ Amortized Cost ​ ​ Allowance ​ ​ Recognized ​ ​ and still accruing: Multi-family residential ​ $ 2,723 ​ $ 2,723 ​ $ — ​ $ — Commercial real estate ​ ​ 2,714 ​ ​ 2,714 ​ ​ — ​ ​ — One-to-four family - mixed-use property ​ ​ 1,704 ​ ​ 1,704 ​ ​ — ​ ​ — One-to-four family - residential ​ ​ 5,922 ​ ​ 5,922 ​ ​ — ​ ​ — Small Business Administration ​ ​ 1,169 ​ ​ 1,169 ​ ​ — ​ ​ — Taxi medallion (1) ​ ​ 2,318 ​ ​ 2,318 ​ ​ — ​ ​ — Commercial business and other (1) ​ ​ 9,278 ​ ​ 6,456 ​ ​ 32 ​ ​ — Total ​ $ 25,828 ​ $ 23,006 ​ $ 32 ​ $ — ​ (1)
Summary of interest foregone on non-accrual loans and loans classified as TDR​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms ​ $ 491 ​ $ 416 ​ $ 1,296 ​ $ 1,224 Less: Interest income included in the results of operations ​ 78 ​ 89 ​ 240 ​ 330 Total foregone interest ​ $ 413 ​ $ 327 ​ $ 1,056 ​ $ 894
Summary of aging of the amortized cost basis in past-due loans​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 4,499 ​ $ 777 ​ $ 2,723 ​ $ 7,999 ​ $ 2,251,453 ​ $ 2,259,452 Commercial real estate ​ 525 ​ 192 ​ 2,714 ​ 3,431 ​ 1,635,986 ​ 1,639,417 One-to-four family - mixed-use property ​ 3,048 ​ 559 ​ 1,429 ​ 5,036 ​ 584,562 ​ 589,598 One-to-four family - residential ​ 2,118 ​ 689 ​ 5,922 ​ 8,729 ​ 192,052 ​ 200,781 Construction loans ​ — ​ — ​ — ​ — ​ 63,406 ​ 63,406 Small Business Administration ​ — ​ — ​ 1,169 ​ 1,169 ​ 122,311 ​ 123,480 Taxi medallion ​ 198 ​ 99 ​ 2,021 ​ 2,318 ​ — ​ 2,318 Commercial business and other ​ 112 ​ — ​ 6,456 ​ 6,568 ​ 1,056,378 ​ 1,062,946 Total ​ $ 10,500 ​ $ 2,316 ​ $ 22,434 ​ $ 35,250 ​ $ 5,906,148 ​ $ 5,941,398 ​ ​ The following tables show by delinquency an analysis of our recorded investment in loans at the periods indicated by class of loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ than ​ Total Past ​ ​ ​ ​ ​ ​ ​ Past Due Past Due 90 Days Due Current Total Loans Multi-family residential ​ $ 4,042 ​ $ 1,563 ​ $ 2,741 ​ $ 8,346 ​ $ 2,230,245 ​ $ 2,238,591 Commercial real estate ​ — ​ 4,941 ​ 367 ​ 5,308 ​ 1,576,700 ​ 1,582,008 One-to-four family - mixed-use property ​ 1,117 ​ 496 ​ 274 ​ 1,887 ​ 590,584 ​ 592,471 One-to-four family - residential ​ 720 ​ 1,022 ​ 5,139 ​ 6,881 ​ 181,335 ​ 188,216 Co-operative apartments ​ — ​ — ​ — ​ — ​ 8,663 ​ 8,663 Construction loans ​ — ​ — ​ — ​ — ​ 67,754 ​ 67,754 Small Business Administration ​ — ​ — ​ 1,151 ​ 1,151 ​ 13,294 ​ 14,445 Taxi medallion ​ — ​ — ​ 1,065 ​ 1,065 ​ 2,244 ​ 3,309 Commercial business and other ​ 2,340 ​ 5 ​ 1,945 ​ 4,290 ​ 1,057,188 ​ 1,061,478 Total ​ $ 8,219 ​ $ 8,027 ​ $ 12,682 ​ $ 28,928 ​ $ 5,728,007 ​ $ 5,756,935
Summary of activity in the allowance for loan losses​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Small Business ​ Taxi ​ business and ​ ​ ​ (In thousands) ​ residential ​ real estate ​ property ​ residential ​ loans ​ Administration ​ medallion ​ other ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 8,935 ​ $ 6,971 ​ $ 2,826 ​ $ 1,161 ​ $ 183 ​ $ 1,386 ​ $ — ​ $ 15,248 ​ $ 36,710 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — ​ (951) ​ (13) ​ (964) Recoveries ​ 14 ​ — ​ 60 ​ 2 ​ — ​ 47 ​ — ​ 4 ​ 127 Provision (benefit) ​ (1,553) ​ 1,576 ​ (1,208) ​ (483) ​ 35 ​ 450 ​ 951 ​ 2,702 ​ 2,470 Ending balance ​ $ 7,396 ​ $ 8,547 ​ $ 1,678 ​ $ 680 ​ $ 218 ​ $ 1,883 ​ $ — ​ $ 17,941 ​ $ 38,343 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Small Business ​ Taxi ​ business and ​ ​ ​ (In thousands) ​ residential ​ real estate ​ property ​ residential ​ loans ​ Administration ​ medallion ​ other ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,506 ​ $ 4,265 ​ $ 1,786 ​ $ 746 ​ $ 381 ​ $ 382 ​ $ — ​ $ 8,444 ​ $ 21,510 Charge-offs ​ (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, 2020 ​ ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ Small ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Business ​ Taxi ​ business and ​ ​ ​ (In thousands) residential real estate property residential loans Administration medallion other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,391 ​ $ 4,429 ​ $ 1,817 ​ $ 756 ​ $ 441 ​ $ 363 ​ $ — ​ $ 8,554 ​ $ 21,751 Impact of CECL Adoption ​ ​ (650) ​ 1,170 ​ (55) ​ (160) ​ (279) ​ 1,180 ​ — ​ (827) ​ ​ 379 Charge-off's ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — ​ ​ (178) ​ ​ (951) ​ ​ (2,121) ​ (3,253) Recoveries ​ 27 ​ — ​ 138 ​ 10 ​ — ​ 67 ​ — ​ 18 ​ 260 Provision ​ 2,628 ​ 2,948 ​ (219) ​ 74 ​ 56 ​ 451 ​ 951 ​ 12,317 ​ 19,206 Ending balance ​ $ 7,396 ​ $ 8,547 ​ $ 1,678 ​ $ 680 ​ $ 218 ​ $ 1,883 ​ $ — ​ $ 17,941 ​ $ 38,343 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ family - ​ One-to-four ​ ​ ​ ​ Small ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ Multi-family ​ Commercial ​ mixed-use ​ family - ​ Construction ​ Business ​ Taxi ​ business and ​ ​ ​ (In thousands) residential real estate property residential loans Administration medallion 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
Summary of risk category of mortgage and non-mortgage loans by loan portfolio segments and class of loans by year of originationThe following table summarizes the risk category of mortgage and non-mortgage loans by loan portfolio segments and class of loans by year of origination : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans, ​ ​ Lines of Credit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost ​ ​ converted to (In thousands) ​ ​ 2020 ​ ​ 2019 ​ ​ 2018 ​ ​ 2017 ​ ​ 2016 ​ ​ Prior ​ ​ Basis ​ ​ term loans 1-4 Family Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 22,735 ​ $ 25,030 ​ $ 27,827 ​ $ 15,548 ​ $ 11,231 ​ $ 59,657 ​ $ 7,678 ​ $ 18,095 Watch ​ ​ 489 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,936 ​ ​ 299 ​ ​ 2,011 Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 667 ​ ​ — ​ ​ 492 Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 960 ​ ​ 3,390 ​ ​ — ​ ​ 1,736 Total 1-4 Family Residential ​ $ 23,224 ​ $ 25,030 ​ $ 27,827 ​ $ 15,548 ​ $ 12,191 ​ $ 66,650 ​ $ 7,977 ​ $ 22,334 1-4 Family Mixed-Use ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 27,156 ​ $ 66,500 ​ $ 74,828 ​ $ 59,923 ​ $ 53,344 ​ $ 288,858 ​ $ — ​ $ — Watch ​ ​ — ​ ​ 1,873 ​ ​ 903 ​ ​ 2,013 ​ ​ 1,146 ​ ​ 8,556 ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ 379 ​ ​ — ​ ​ — ​ ​ 1,179 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ 620 ​ ​ 806 ​ ​ — ​ ​ — ​ ​ 1,514 ​ ​ — ​ ​ — Total 1-4 Family Mixed Use ​ $ 27,156 ​ $ 68,993 ​ $ 76,916 ​ $ 61,936 ​ $ 54,490 ​ $ 300,107 ​ $ — ​ $ — Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 118,019 ​ $ 248,812 ​ $ 281,920 ​ $ 189,592 ​ $ 213,553 ​ $ 482,495 ​ $ — ​ $ — Watch ​ ​ — ​ ​ 8,606 ​ ​ — ​ ​ 4,883 ​ ​ 28,203 ​ ​ 58,587 ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ 981 ​ ​ — ​ ​ 192 ​ ​ — ​ ​ 861 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ 1,702 ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,011 ​ ​ — ​ ​ — Total Commercial Real Estate ​ $ 118,019 ​ $ 260,101 ​ $ 281,920 ​ $ 194,667 ​ $ 241,756 ​ $ 542,954 ​ $ — ​ $ — Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 10,058 ​ $ 14,751 ​ $ 31,402 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Watch ​ ​ — ​ ​ 886 ​ ​ 5,631 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ 678 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total Construction ​ $ 10,058 ​ $ 15,637 ​ $ 37,711 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Multifamily ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 174,397 ​ $ 309,564 ​ $ 364,298 ​ $ 356,206 ​ $ 269,388 ​ $ 749,946 ​ $ 3,433 ​ $ — Watch ​ ​ — ​ ​ 1,571 ​ ​ — ​ ​ 2,537 ​ ​ 2,784 ​ ​ 19,504 ​ ​ 865 ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 699 ​ ​ 776 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ 1,999 ​ ​ — ​ ​ — ​ ​ 1,485 ​ ​ — ​ ​ — Total Multifamily ​ $ 174,397 ​ $ 311,135 ​ $ 366,297 ​ $ 358,743 ​ $ 272,871 ​ $ 771,711 ​ $ 4,298 ​ $ — Commercial Business - Secured by RE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 68,713 ​ $ 91,282 ​ $ 56,704 ​ $ 22,051 ​ $ 47,335 ​ $ 82,368 ​ $ — ​ $ — Watch ​ ​ — ​ ​ — ​ ​ 7,080 ​ ​ 1,320 ​ ​ — ​ ​ 416 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,331 ​ ​ — ​ ​ — Total Commercial Business - Secured by RE ​ $ 68,713 ​ $ 91,282 ​ $ 63,784 ​ $ 23,371 ​ $ 47,335 ​ $ 86,115 ​ $ — ​ $ — Commercial Business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 59,956 ​ $ 137,475 ​ $ 108,265 ​ $ 64,737 ​ $ 17,573 ​ $ 67,940 ​ $ 186,882 ​ $ — Watch ​ ​ — ​ ​ 2,889 ​ ​ 4,112 ​ ​ 7,880 ​ ​ — ​ ​ 10 ​ ​ 10,935 ​ ​ — Special Mention ​ ​ — ​ ​ 51 ​ ​ 2,411 ​ ​ — ​ ​ 2,418 ​ ​ — ​ ​ (26) ​ ​ — Substandard ​ ​ 39 ​ ​ — ​ ​ — ​ ​ 4,810 ​ ​ — ​ ​ 1,711 ​ ​ 171 ​ ​ — Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 1,872 ​ ​ — Total Commercial Business ​ $ 59,995 ​ $ 140,415 ​ $ 114,788 ​ $ 77,427 ​ $ 19,991 ​ $ 69,661 ​ $ 199,834 ​ $ — Small Business Administration ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 110,121 ​ $ 1,067 ​ $ 3,590 ​ $ 1,043 ​ $ 2,551 ​ $ 1,625 ​ $ — ​ $ — Watch ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,257 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Special Mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 50 ​ ​ — ​ ​ — Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,169 ​ ​ 7 ​ ​ — ​ ​ — ​ ​ — Total Small Business Administration ​ $ 110,121 ​ $ 1,067 ​ $ 3,590 ​ $ 4,469 ​ $ 2,558 ​ $ 1,675 ​ $ — ​ $ — Taxi Medallions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Substandard ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,318 ​ $ — ​ $ — Total Taxi Medallions ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,318 ​ $ — ​ $ — Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 136 ​ $ 99 ​ $ — Total Other ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 136 ​ $ 99 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ $ 591,683 ​ $ 913,660 ​ $ 972,833 ​ $ 736,161 ​ $ 651,192 ​ $ 1,841,327 ​ $ 212,208 ​ $ 22,334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table sets forth the recorded investment in loans designated as Criticized or Classified at the period indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (In thousands) Special Mention Substandard Doubtful Loss Total Multi-family residential ​ $ 1,563 ​ $ 2,743 ​ $ — ​ $ — ​ $ 4,306 Commercial real estate ​ 5,525 ​ 367 ​ — ​ — ​ 5,892 One-to-four family - mixed-use property ​ 1,585 ​ 453 ​ — ​ — ​ 2,038 One-to-four family - residential ​ 1,095 ​ 5,787 ​ — ​ — ​ 6,882 Construction ​ — ​ — ​ — ​ — ​ — Small Business Administration ​ 55 ​ 85 ​ — ​ — ​ 140 Taxi medallion ​ — ​ 3,309 ​ — ​ — ​ 3,309 Commercial business and other ​ 3,924 ​ 11,289 ​ 266 ​ — ​ 15,479 Total loans ​ $ 13,747 ​ $ 24,033 ​ $ 266 ​ $ — ​ $ 38,046 ​
Summary of types of collateral-dependent loans by class of loans​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral Type (In thousands) ​ ​ Real Estate ​ ​ Business Assets Multi-family residential ​ $ 2,723 ​ $ — Commercial real estate ​ ​ 6,045 ​ ​ — One-to-four family - mixed-use property ​ ​ 1,704 ​ ​ — One-to-four family - residential ​ ​ 5,922 ​ ​ — Small Business Administration ​ ​ — ​ ​ 1,169 Commercial business and other ​ ​ — ​ ​ 4,996 Taxi Medallion ​ ​ — ​ ​ 2,318 Total ​ $ 16,394 ​ $ 8,483
Nonperforming Financial Instruments [Member]
Notes Tables
Schedule of recorded investment for loans classified as TDR at amortized cost​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ Number ​ Amortized (Dollars in thousands) of contracts Cost Taxi medallion 10 ​ $ 1,823 Commercial business and other 1 ​ 279 Total troubled debt restructurings that subsequently defaulted 11 ​ $ 2,102 ​ ​ The following table shows our recorded investment for loans classified as TDR that are not performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Number ​ Recorded (Dollars in thousands) ​ of contracts investment Taxi medallion ​ 4 ​ $ 1,065 Commercial business and other ​ 1 ​ 279 Total troubled debt restructurings that subsequently defaulted ​ 5 ​ $ 1,344
Schedule of non-accrual loans at amortized cost with no related allowance and interest income recognized for loans ninety days or more past due and still accruing​ ​ ​ ​ ​ ​ ​ December 31, (In thousands) ​ 2019 Loans ninety days or more past due and still accruing: ​ ​ Multi-family residential ​ $ 445 Total ​ 445 Non-accrual mortgage loans: ​ Multi-family residential ​ 2,296 Commercial real estate ​ 367 One-to-four family - mixed-use property ​ 274 One-to-four family - residential ​ ​ 5,139 Total ​ 8,076 Non-accrual non-mortgage loans: ​ Small Business Administration ​ 1,151 Taxi medallion (1) ​ 1,641 Commercial business and other (1) ​ 1,945 Total ​ 4,737 Total non-accrual loans ​ 12,813 Total non-performing loans ​ $ 13,258 ​ (1) Not included in the above analysis are non-accrual performing TDR taxi medallion loans totaling $1.7 million at December 31, 2019, respectively and non-accrual performing TDR commercial business loans totaling $0.9 million at December 31, 2019.
Performing According to Restructured Terms [Member]
Notes Tables
Schedule of recorded investment for loans classified as TDR at amortized costThe following table shows our recorded investment for loans classified as TDR at amortized cost that are performing according to their restructured terms at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ Number ​ Amortized (Dollars in thousands) of contracts Cost Multi-family residential 7 ​ $ 1,876 One-to-four family - mixed-use property (1) 5 ​ 1,744 One-to-four family - residential 3 ​ 513 Taxi medallion (1) 1 ​ ​ 99 Commercial business and other (1) 3 ​ 950 Total performing troubled debt restructured 19 ​ $ 5,182 (1) These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis. ​ The following table shows our recorded investment for loans classified as TDR that are performing according to their restructured terms at the periods indicated : ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Number ​ Recorded (Dollars in thousands) ​ of contracts investment Multi-family residential ​ 7 ​ $ 1,873 One-to-four family - mixed-use property ​ 4 ​ 1,481 One-to-four family - residential ​ 3 ​ 531 Taxi medallion (1) ​ 7 ​ 1,668 Commercial business and other (1) ​ 3 ​ 941 Total performing troubled debt restructured ​ 24 ​ $ 6,494 ​ (1) These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis.

Loans Held for Sale (Tables)

Loans Held for Sale (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of loans sold​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ Net Recoveries ​ ​ (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain Delinquent and non-performing loans ​ ​ ​ Multi-family residential 1 ​ $ 284 ​ $ — ​ $ 42 One-to-four family - mixed-use property 1 ​ 296 ​ — ​ — Total 2 ​ $ 580 ​ $ — ​ $ 42 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Net Recoveries ​ ​ ​ (Dollars in thousands) Loans sold Proceeds (Charge-offs) Net gain (loss) Delinquent and non-performing loans ​ ​ ​ Multi-family residential 3 ​ $ 1,465 ​ $ — ​ $ 267 One-to-four family - mixed-use property ​ 1 ​ ​ 405 ​ ​ (1) ​ ​ — Commercial real estate 1 ​ $ 3,248 ​ $ — ​ $ — Total 5 ​ $ 5,118 ​ $ (1) ​ $ 267 Performing loans ​ ​ ​ Small Business Administration 3 ​ $ 2,069 ​ $ — ​ $ 114 Total 3 ​ $ 2,069 ​ $ — ​ $ 114

Other Real Estate Owned (Tables

Other Real Estate Owned (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Summary of changes in Other Real Estate Owned ("OREO")The following table shows changes in Other Real Estate Owned (“OREO”) during the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Balance at beginning of period ​ $ 208 ​ $ 239 ​ $ 239 ​ $ — Acquisitions ​ — ​ — ​ — ​ 239 Reductions to carrying value ​ — ​ — ​ (31) ​ — Sales ​ ​ (208) ​ ​ — ​ ​ (208) ​ ​ — Balance at end of period ​ $ — ​ $ 239 ​ $ — ​ $ 239
Schedule of the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2020 2019 2020 2019 ​ ​ (In thousands) Gross gains ​ $ — ​ $ — ​ $ — ​ $ — Gross losses ​ (5) ​ — ​ (5) ​ — Write-down of carrying value ​ — ​ — ​ (31) ​ — Total income ​ $ (5) ​ $ — ​ $ (36) ​ $ —

Leases (Tables)

Leases (Tables)9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Summary of supplemental balance sheet information related to leases​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) ​ September 30, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease ROU assets ​ $ 42,326 ​ $ 41,254 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ $ 49,737 ​ $ 49,367 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term-operating leases ​ 8.2 years ​ 8.0 years ​ Weighted average discount rate-operating leases ​ 3.6 % 3.8 % ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of lease expense and cash flow information related to leases​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ (Dollars in thousands) ​ September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Cost ​ ​ ​ Operating lease cost ​ $ 1,895 ​ $ 1,891 ​ Short-term lease cost ​ 34 ​ 34 ​ Variable lease cost ​ 281 ​ 267 ​ Total lease cost ​ $ 2,210 ​ $ 2,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Operating cash flows from operating leases ​ $ 2,101 ​ $ 2,002 ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 6,772 ​ $ 1,253 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended (Dollars in thousands) ​ September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Lease Cost ​ ​ Operating lease cost ​ $ 5,676 ​ $ 5,676 Short-term lease cost ​ 102 ​ 102 Variable lease cost ​ 832 ​ 757 Total lease cost ​ $ 6,610 ​ $ 6,535 ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ Operating cash flows from operating leases ​ $ 6,283 ​ $ 6,052 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 6,822 ​ $ 1,295
Schedule of Minimum annual rental payments for Bank facilities due under non-cancelable leases​ ​ ​ ​ ​ ​ ​ Minimum Rental ​ ​ (In thousands) Years ended December 31: ​ ​ ​ 2020 ​ $ 1,715 2021 ​ ​ 7,739 2022 ​ ​ 7,491 2023 ​ ​ 7,612 2024 ​ ​ 7,650 Thereafter ​ ​ 24,935 Total minimum payments required ​ ​ 57,142 Less: Implied interest ​ ​ 7,405 Total lease obligations ​ $ 49,737

Stock-based Compensation (Table

Stock-based Compensation (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Summary of the Company's RSU and PRSU awards​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RSU Awards PRSU Awards ​ ​ ​ Weighted-Average ​ ​ Weighted-Average ​ ​ ​ Grant-Date ​ ​ Grant-Date ​ Shares Fair Value Shares Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2019 428,295 ​ $ 24.42 34,186 ​ $ 22.38 Granted 172,728 ​ 19.66 72,143 ​ 20.38 Vested (241,246) ​ 22.38 (35,149) ​ 20.54 Forfeited (5,545) ​ 24.62 — ​ — Non-vested at September 30, 2020 354,232 ​ $ 23.48 71,180 ​ $ 21.26 Vested but unissued at September 30, 2020 217,642 ​ $ 23.26 62,515 ​ $ 21.35
Phantom Share Units (PSUs) [Member]
Notes Tables
Summary of the Phantom Stock Plan​ ​ ​ ​ ​ ​ ​ Phantom Stock Plan Shares Fair Value Outstanding at December 31, 2019 109,226 ​ $ 21.61 Granted 10,392 ​ 14.58 Distributions (890) ​ 11.73 Outstanding at September 30, 2020 118,728 ​ $ 10.52 Vested at September 30, 2020 118,677 ​ $ 10.52

Pension and Other Postretirem_2

Pension and Other Postretirement Benefit Plans (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of net expense for the pension and other postretirement benefit plans​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Nine months ended ​ September 30, September 30, (In thousands) 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee Pension Plan: ​ ​ ​ ​ Interest cost ​ $ 163 ​ $ 199 ​ $ 489 ​ $ 597 Amortization of actuarial loss ​ 111 ​ 68 ​ 333 ​ 201 Expected return on plan assets ​ (257) ​ (272) ​ (771) ​ (816) Net employee pension expense (benefit) ​ $ 17 ​ $ (5) ​ $ 51 ​ $ (18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outside Director Pension Plan: ​ ​ ​ ​ Service cost ​ $ 4 ​ $ 10 ​ $ 11 ​ $ 30 Interest cost ​ 16 ​ 21 ​ 48 ​ 63 Amortization of actuarial gain ​ (14) ​ (35) ​ (41) ​ (105) Amortization of past service liability ​ — ​ — ​ — ​ — Net outside director pension expense (benefit) ​ $ 6 ​ $ (4) ​ $ 18 ​ $ (12) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans: ​ ​ ​ ​ Service cost ​ $ 69 ​ $ 70 ​ $ 206 ​ $ 210 Interest cost ​ 64 ​ 85 ​ 194 ​ 255 Amortization of past service credit ​ (21) ​ (22) ​ (64) ​ (64) Net other postretirement expense ​ $ 112 ​ $ 133 ​ $ 336 ​ $ 401

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of financial assets and financial liabilities​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) 2020 2019 September 30, 2020 September 30, 2019 September 30, 2020 ​ September 30, 2019 ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities ​ $ 672 ​ $ 772 ​ $ (1) ​ $ — ​ $ 1 ​ $ 2 Other securities ​ 13,841 ​ 13,548 ​ 83 ​ 107 ​ 120 ​ 470 Borrowed funds ​ 38,287 ​ 44,384 ​ (2,897) ​ (599) ​ 5,086 ​ (2,353) Net gain (loss) from fair value adjustments (1)(2) ​ ​ ​ ​ ​ ​ ​ $ (2,815) ​ $ (492) ​ $ 5,207 ​ $ (1,881) (1) The net gain (loss) from fair value adjustments presented in the above table does not include net gains (losses) of $0.6 million and ($1.6) million for the three months ended September 30, 2020 and 2019, respectively, from the change in the fair value of interest rate swaps. (2) The net gain (loss) from fair value adjustments presented in the above table does not include net losses of $3.2 million and $4.3 million for the nine months ended September 30, 2020 and 2019, respectively, from the change in the fair value of interest rate swaps.
Schedule of assets and liabilities that are carried at fair value on recurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 2020 2019 2020 2019 2020 2019 2020 2019 ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgage-backed Securities ​ $ — ​ $ — ​ $ 386,235 ​ $ 523,849 ​ $ — ​ $ — ​ $ 386,235 ​ $ 523,849 Other securities ​ 12,691 ​ 12,216 ​ 220,881 ​ 235,103 ​ 1,149 ​ 1,332 ​ 234,721 ​ 248,651 Interest rate swaps ​ — ​ — ​ 416 ​ 2,352 ​ — ​ — ​ 416 ​ 2,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ 12,691 ​ $ 12,216 ​ $ 607,532 ​ $ 761,304 ​ $ 1,149 ​ $ 1,332 ​ $ 621,372 ​ $ 774,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Borrowings ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 38,287 ​ $ 44,384 ​ $ 38,287 ​ $ 44,384 Interest rate swaps ​ — ​ — ​ 69,595 ​ 19,653 ​ — ​ — ​ 69,595 ​ 19,653 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ​ $ — ​ $ — ​ $ 69,595 ​ $ 19,653 ​ $ 38,287 ​ $ 44,384 ​ $ 107,882 ​ $ 64,037
Schedule of assets and liabilities that are carried at fair value on a recurring basis, classified within Level 3​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ ​ September 30, 2020 ​ September 30, 2019 ​ ​ Trust preferred ​ Junior subordinated ​ Trust preferred ​ Junior subordinated ​ securities debentures securities debentures ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,068 ​ $ 35,570 ​ $ 1,303 ​ $ 43,414 Net (loss) gain from fair value adjustment of financial assets (1) ​ 82 ​ — ​ 15 ​ — Net (gain) loss from fair value adjustment of financial liabilities (1) ​ — ​ 2,897 ​ — ​ 599 Decrease in accrued interest receivable ​ ​ (1) ​ ​ — ​ ​ — ​ ​ — Decrease in accrued interest payable ​ — ​ (19) ​ — ​ (15) Change in unrealized gains included in other comprehensive income ​ — ​ (161) ​ — ​ (88) Ending balance ​ $ 1,149 ​ $ 38,287 ​ $ 1,318 ​ $ 43,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in unrealized gains held at period end ​ $ — ​ 2,384 ​ — ​ 1,513 (1) Totals in the table above are presented in the Consolidated Statements of Income under net gain (loss) from fair value adjustments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2020 ​ September 30, 2019 ​ ​ Trust preferred ​ Junior subordinated ​ Trust preferred ​ Junior subordinated ​ securities debentures securities debentures ​ (In thousands) Beginning balance ​ $ 1,332 ​ $ 44,384 ​ $ 1,256 ​ $ 41,849 Net (loss) gain from fair value adjustment of financial assets (1) ​ (180) ​ — ​ 64 ​ — Net (gain) loss from fair value adjustment of financial liabilities (1) ​ — ​ (5,086) ​ — ​ 2,353 Decrease in accrued interest receivable ​ ​ (3) ​ ​ — ​ ​ (2) ​ ​ — Decrease in accrued interest payable ​ — ​ (104) ​ — ​ (27) Change in unrealized gains included in other comprehensive income ​ — ​ (907) ​ — ​ (265) Ending balance ​ $ 1,149 ​ $ 38,287 ​ $ 1,318 ​ $ 43,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in unrealized gains held at period end ​ $ — ​ 2,384 ​ — ​ 1,513
Schedule of assets and liabilities that are carried at fair value on non-recurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 2020 2019 2020 2019 2020 2019 2020 2019 ​ (In thousands) Assets ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,167 ​ $ 1,081 ​ $ 4,167 ​ $ 1,081 Other real estate owned ​ — ​ — ​ — ​ — ​ — ​ 239 ​ — ​ 239 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,167 ​ $ 1,320 ​ $ 4,167 ​ $ 1,320
Schedule of carrying amounts and estimated fair values of selected financial instruments​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ Carrying ​ Fair ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Value Level 1 Level 2 Level 3 ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 75,560 ​ $ 75,560 ​ $ 75,560 ​ $ — ​ $ — Securities held-to-maturity ​ ​ ​ ​ ​ Mortgage-backed securities ​ 7,919 ​ 9,198 ​ — ​ 9,198 ​ — Other securities ​ 50,654 ​ 53,268 ​ — ​ — ​ 53,268 Securities available for sale ​ ​ ​ ​ ​ Mortgage-backed securities ​ 386,235 ​ 386,235 ​ — ​ 386,235 ​ — Other securities ​ 234,721 ​ 234,721 ​ 12,691 ​ 220,881 ​ 1,149 Loans ​ 5,941,398 ​ 6,030,154 ​ — ​ — ​ 6,030,154 FHLB-NY stock ​ 57,119 ​ 57,119 ​ — ​ 57,119 ​ — Accrued interest receivable ​ 36,068 ​ 36,068 ​ 1 ​ 1,473 ​ 34,594 Interest rate swaps ​ 416 ​ 416 ​ — ​ 416 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 4,963,495 ​ $ 4,970,920 ​ $ 3,911,851 ​ $ 1,059,069 ​ $ — Borrowings ​ 1,323,975 ​ 1,333,147 ​ — ​ 1,294,860 ​ 38,287 Accrued interest payable ​ 6,111 ​ 6,111 ​ — ​ 6,111 ​ — Interest rate swaps ​ 69,595 ​ 69,595 ​ — ​ 69,595 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Carrying ​ Fair ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Value Level 1 Level 2 Level 3 ​ ​ (In thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 49,787 ​ $ 49,787 ​ $ 49,787 ​ $ — ​ $ — Securities held-to-maturity ​ ​ ​ ​ ​ Mortgage-backed securities ​ 7,934 ​ 8,114 ​ — ​ 8,114 ​ — Other securities ​ 50,954 ​ 53,998 ​ — ​ — ​ 53,998 Securities available for sale ​ ​ ​ ​ ​ Mortgage-backed securities ​ 523,849 ​ 523,849 ​ — ​ 523,849 ​ — Other securities ​ 248,651 ​ 248,651 ​ 12,216 ​ 235,103 ​ 1,332 Loans ​ 5,772,206 ​ 5,822,124 ​ — ​ — ​ 5,822,124 FHLB-NY stock ​ 56,921 ​ 56,921 ​ — ​ 56,921 ​ — Accrued interest receivable ​ 25,722 ​ 25,722 ​ 9 ​ 2,519 ​ 23,194 Interest rate swaps ​ 2,352 ​ 2,352 ​ — ​ 2,352 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 5,066,424 ​ $ 5,070,046 ​ $ 3,628,534 ​ $ 1,441,512 ​ $ — Borrowings ​ 1,237,231 ​ 1,389,883 ​ — ​ 1,345,499 ​ 44,384 Accrued interest payable ​ 6,752 ​ 6,752 ​ — ​ 6,752 ​ — Interest rate swaps ​ 19,653 ​ 19,653 ​ — ​ 19,653 ​ —
Fair Value, Measurements, Nonrecurring [Member]
Notes Tables
Schedule of quantitative information about Level 3​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ (Dollars in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ 2,112 Sales approach Reduction for planned expedited disposal (100.0%) to 15.0% ​ (74.0%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-accrual loans ​ $ 2,055 Discounted Cash flow Discount Rate 4.3% to 6.4% ​ 5.1% ​ ​ ​ ​ ​ ​ ​ Probability of Default ​ 20.0% to 35.0% ​ 29.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2019 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ (Dollars in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 809 Discounted Cash flow Discount Rate 6.4% ​ 6.4% ​ ​ ​ ​ ​ Probability of Default ​ 20.0% ​ 20.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 272 Blended income and sales approach Adjustment to sales comparison value to reconcile differences between comparable sales (10.0%) to 15.0% ​ 2.5% ​ ​ ​ ​ ​ ​ ​ Capitalization Rate ​ 9.5% ​ 9.5% ​ ​ ​ ​ ​ ​ ​ Reduction for planned expedited disposal ​ 15.0% ​ 15.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other real estate owned ​ $ 239 Sales approach Reduction for planned expedited disposal 0.5% to 12.5% ​ 6.5% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Fair Value, Measurements, Recurring [Member]
Notes Tables
Schedule of quantitative information about Level 3​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ ​ ​ (Dollars in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ $ 1,149 Discounted cash flows Discount rate n/a 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior subordinated debentures ​ $ 38,287 Discounted cash flows Discount rate n/a 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Fair Value Valuation Technique Unobservable Input Range Weighted Average ​ (Dollars in thousands) ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust preferred securities ​ $ 1,332 Discounted cash flows Discount rate n/a 4.2 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Junior subordinated debentures ​ $ 44,384 Discounted cash flows Discount rate n/a 4.2 %

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Summary of information regarding the Company's derivative financial instruments​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ Notional ​ Net Carrying ​ Notional ​ Net Carrying ​ Amount Value (1) Amount Value (1) ​ ​ (In thousands) Interest rate swaps (fair value hedge) ​ $ — ​ $ — ​ $ 139,960 ​ $ 2,352 Interest rate swaps (non-hedge) ​ 20,600 ​ 416 ​ — ​ — Interest rate swaps (fair value hedge) ​ 318,569 ​ (34,078) ​ 186,009 ​ (7,769) Interest rate swaps (cash flow hedge) ​ 1,021,500 ​ (28,527) ​ 541,500 ​ (8,350) Interest rate swaps (non-hedge) ​ 38,600 ​ (6,990) ​ 18,000 ​ (3,534) Total derivatives ​ $ 1,399,269 ​ $ (69,179) ​ $ 885,469 ​ $ (17,301) (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.
Schedule of effect of derivative instruments on the Consolidated Statements of Income​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended For the nine months ended ​ ​ ​ September 30, ​ September 30, (In thousands) Affected Line Item in the Statement Where Net income is Presented 2020 2019 2020 2019 Financial Derivatives: ​ ​ ​ ​ ​ ​ Other interest expense ​ $ (132) ​ $ (38) ​ $ (298) ​ $ (87) ​ Net gain (loss) from fair value adjustments ​ ​ 590 ​ ​ (1,632) ​ ​ (3,220) ​ ​ (4,279) Interest rate swaps (non-hedge) ​ ​ ​ 458 ​ ​ (1,670) ​ ​ (3,518) ​ ​ (4,366) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (fair value hedge) Interest and fees on loans ​ ​ (1,158) ​ ​ (1,041) ​ ​ (4,863) ​ ​ (1,833) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (cash flow hedge) Other interest expense ​ (2,511) ​ 301 ​ (4,057) ​ ​ 1,362 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ ​ $ (3,211) ​ $ (2,410) ​ $ (12,438) ​ $ (4,837)
Schedule of effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount Offset in ​ Net Amount of Assets ​ Condition ​ ​ ​ ​ ​ Gross Amount of ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ ​ (In thousands) Recognized Assets Condition Condition Instruments Received Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 416 ​ $ — ​ $ 416 ​ $ — ​ $ — $ 416 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ Gross Amount of ​ Gross Amount Offset in ​ Net Amount of Liabilities ​ Condition ​ ​ ​ ​ ​ Recognized ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ (In thousands) Liabilities Condition Condition Instruments Pledged Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 69,595 ​ $ — ​ $ 69,595 ​ $ 73,812 ​ $ 450 $ (4,667) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount Offset in ​ Net Amount of Assets ​ Condition ​ ​ ​ ​ ​ Gross Amount of ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ ​ (In thousands) Recognized Assets Condition Condition Instruments Received Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 2,352 ​ $ — ​ $ 2,352 ​ $ — ​ $ — $ 2,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of ​ ​ ​ ​ ​ Gross Amount of ​ Gross Amount Offset in ​ Net Amount of Liabilities ​ Condition ​ ​ ​ ​ ​ Recognized ​ the Statement of ​ Presented in the Statement of ​ Financial ​ Cash Collateral ​ ​ (In thousands) Liabilities Condition Condition Instruments Pledged Net Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 19,653 ​ $ — ​ $ 19,653 ​ $ 19,265 ​ $ — $ 388

Income Taxes (Tables)

Income Taxes (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Summary of income tax provisions​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ​ For the nine months ​ ​ ​ ended September 30, ​ ended September 30, ​ ​ 2020 2019 2020 2019 (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal: ​ ​ ​ ​ Current ​ $ 4,626 ​ $ 3,578 ​ $ 11,290 ​ $ 9,354 ​ Deferred ​ (1,267) ​ (1,121) ​ (2,635) ​ (1,973) ​ Total federal tax provision ​ 3,359 ​ 2,457 ​ 8,655 ​ 7,381 ​ State and Local: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ 1,491 ​ 1,345 ​ 2,975 ​ 2,518 ​ Deferred ​ (361) ​ (1,266) ​ (1,539) ​ (1,804) ​ Total state and local tax provision ​ 1,130 ​ 79 ​ 1,436 ​ 714 ​ Total income tax provision ​ $ 4,489 ​ $ 2,536 ​ $ 10,091 ​ $ 8,095 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of changes in accumulated other comprehensive income (loss) by component​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2020 ​ 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 ​ $ (2,708) ​ $ (21,473) ​ $ (878) ​ $ 1,537 ​ $ (23,522) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications, net of tax ​ 3,185 ​ 937 ​ — ​ 111 ​ 4,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive income, net of tax ​ — ​ 929 ​ 52 ​ — ​ 981 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income, net of tax ​ 3,185 ​ 1,866 ​ 52 ​ 111 ​ 5,214 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, net of tax ​ $ 477 ​ $ (19,607) ​ $ (826) ​ $ 1,648 ​ $ (18,308) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 nine months ended September 30, 2020 ​ 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 ​ $ (3,982) ​ $ (5,863) ​ $ (983) ​ $ 1,021 ​ $ (9,807) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassifications, net of tax ​ 4,397 ​ (15,215) ​ — ​ 627 ​ (10,191) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive income, net of tax ​ 62 ​ 1,471 ​ 157 ​ — ​ 1,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income (loss), net of tax ​ 4,459 ​ (13,744) ​ 157 ​ 627 ​ (8,501) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, net of tax ​ $ 477 ​ $ (19,607) ​ $ (826) ​ $ 1,648 ​ $ (18,308) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (loss), net of tax ​ 10 ​ (868) ​ 22 ​ — ​ (836) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current period other comprehensive income, 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)
Schedule of amounts reclassified from accumulated other comprehensive income (loss) by component​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2020 ​ 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 ​ $ (1,352) ​ Other interest expense ​ ​ 423 ​ Provision for income taxes ​ ​ $ (929) ​ Net of tax Amortization of defined benefit pension items: ​ ​ Actuarial losses ​ $ (97) (1) Other operating expense Prior service credits ​ 21 (1) Other operating expense ​ ​ (76) ​ Total before tax ​ ​ 24 ​ Provision for income taxes ​ ​ $ (52) ​ Net of tax ​ ​ ​ ​ ​ ​ ​ 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) ​ ​ ​ ​ ​ ​ 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 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 nine months ended September 30, 2020 ​ 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 losses on available for sale securities ​ $ (91) ​ Net loss on sale of securities ​ ​ 29 ​ Provision for income taxes ​ ​ $ (62) ​ Net of tax Cash flow hedges: ​ ​ Interest rate swaps ​ $ (2,140) ​ Other interest expense ​ ​ 669 ​ Tax benefit ​ ​ $ (1,471) ​ Net of tax Amortization of defined benefit pension items: ​ ​ Actuarial losses ​ $ (292) (1) Other operating expense Prior service credits ​ 64 (1) Other operating expense ​ ​ (228) ​ Total before tax ​ ​ 71 ​ Provision for income taxes ​ ​ $ (157) ​ 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 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 expense ​ ​ (389) ​ Provision for income taxes ​ ​ $ 868 ​ Net of tax ​ ​ ​ ​ ​ ​ Amortization of defined benefit pension items: ​ ​ ​ Actuarial 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

Regulatory Capital (Tables)

Regulatory Capital (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Summary of compliance with banking regulatory capital standards​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ ​ ​ ​ Percent of ​ ​ ​ ​ Percent of ​ Amount Assets Amount Assets ​ (Dollars in thousands) ​ Tier I (leverage) capital: ​ ​ ​ Capital level ​ $ 694,041 9.93 % $ 680,749 9.65 % Requirement to be well capitalized ​ 349,453 5.00 ​ 352,581 5.00 ​ Excess ​ 344,588 4.93 ​ 328,168 4.65 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier I risk-based capital: ​ ​ ​ Capital level ​ $ 694,041 12.88 % $ 680,749 13.02 % Requirement to be well capitalized ​ 350,156 6.50 ​ 339,944 6.50 ​ Excess ​ 343,885 6.38 ​ 340,805 6.52 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 risk-based capital: ​ ​ ​ Capital level ​ $ 694,041 12.88 % $ 680,749 13.02 % Requirement to be well capitalized ​ 430,962 8.00 ​ 418,393 8.00 ​ Excess ​ 263,079 4.88 ​ 262,356 5.02 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total risk-based capital: ​ ​ ​ Capital level ​ $ 729,160 13.54 % $ 702,500 13.43 % Requirement to be well capitalized ​ 538,702 10.00 ​ 522,991 10.00 ​ Excess ​ 190,458 3.54 ​ 179,509 3.43 ​
Holding Company
Notes Tables
Summary of compliance with banking regulatory capital standards​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2020 December 31, 2019 ​ ​ ​ ​ ​ Percent of ​ ​ ​ ​ Percent of ​ Amount Assets Amount Assets ​ ​ (Dollars in thousands) Tier I (leverage) capital: ​ ​ ​ Capital level ​ $ 630,380 9.03 % $ 615,500 8.73 % Requirement to be well capitalized ​ 349,174 5.00 ​ 352,581 5.00 ​ Excess ​ 281,206 4.03 ​ 262,919 3.73 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Equity Tier I risk-based capital: ​ ​ ​ Capital level ​ $ 593,344 11.02 % $ 572,651 10.95 % Requirement to be well capitalized ​ 349,826 6.50 ​ 339,929 6.50 ​ Excess ​ 243,518 4.52 ​ 232,722 4.45 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tier 1 risk-based capital: ​ ​ ​ Capital level ​ $ 630,380 11.71 % $ 615,500 11.77 % Requirement to be well capitalized ​ 430,555 8.00 ​ 418,374 8.00 ​ Excess ​ 199,825 3.71 ​ 197,126 3.77 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total risk-based capital: ​ ​ ​ Capital level ​ $ 740,499 13.76 % $ 712,251 13.62 % Requirement to be well capitalized ​ 538,194 10.00 ​ 522,967 10.00 ​ Excess ​ 202,305 3.76 ​ 189,284 3.62 ​

Use of Estimates (Details)

Use of Estimates (Details) $ in ThousandsSep. 30, 2020USD ($)loanJun. 30, 2020USD ($)Dec. 31, 2019USD ($)
Goodwill $ 16,127 $ 16,127
Loans Receivable [Member]
Number of active forbearances | loan509
Outstanding balance in active forbearance $ 846,200 $ 1,300,000
Financing Receivable $ 28,400

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Sep. 30, 2020Sep. 30, 2019
Earnings Per Share
Net income $ 14,331 $ 18,272 $ (1,390) $ 10,724 $ 10,556 $ 7,068 $ 31,213 $ 28,348
Weighted average common shares outstanding (in shares)28,874 28,730 28,865 28,704
Weighted average common stock equivalents (in shares)0 0 0 0
Total weighted average common shares outstanding and common stock equivalents (in shares)28,874 28,730 28,865 28,704
Basic earnings (loss) per common share (in dollars per share) $ 0.50 $ 0.37 $ 1.08 $ 0.99
Diluted earnings (loss) per common share (in dollars per share) $ 0.50 $ 0.37 $ 1.08 $ 0.99
Dividend Payout ratio42.00%56.80%58.30%63.60%

Earnings Per Share - Anti Dilut

Earnings Per Share - Anti Dilutive (Details) - shares shares in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount0 0 0 0

Securities (Details)

Securities (Details) $ in ThousandsJan. 01, 2020USD ($)Sep. 30, 2020USD ($)securityitemSep. 30, 2019USD ($)Sep. 30, 2020USD ($)securityitemSep. 30, 2019USD ($)Jun. 30, 2020USD ($)Dec. 31, 2019USD ($)
Debt Securities, Trading, and Equity Securities, FV-NI, Total $ 0 $ 0
Number of securities in portfolio | security3 3
Number of portfolio securities modeled structured | security2 2
Accrued interest receivable on held-to-maturity securities $ 100 $ 100
Allowance for credit loss0 0
Accrued interest receivable on available-for-sale debt securities1,400 1,400
Proceeds from Sale of Debt Securities, Available-for-sale $ 0 $ 0 $ 130,800 $ 26,400
Held-to-maturity Securities [Member]
Number of active forbearances | item1 1
Outstanding balance in active forbearance $ 20,900 $ 20,900
Collateralized Mortgage Obligations by Commercial Real Estate [Member]
Private Issue Collateralized Mortgage Obligations, Number0 0
Accounting Standards Update 2016-13 [Member]
Increase in allowance for held-to-maturity debt securities $ 300

Securities - Amortized Cost and

Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in ThousandsSep. 30, 2020Jun. 30, 2020Dec. 31, 2019
Securities held-to-maturity, amortized cost $ 58,573 $ 58,888
Securities held-to-maturity, fair value62,466 62,112
Securities held-to-maturity, gross unrealized gains3,893 3,224
Securities held-to-maturity, gross unrealized losses0
Securities held-to-maturity, allowance for credit losses(402)
Securities available for sale, amortized cost, total other securities620,262 778,294
Securities available for sale, fair value620,956 772,500
Securities available for sale, gross unrealized gains10,635 4,307
Securities available for sale, gross unrealized losses9,941 10,101
Corporate Debt Securities [Member]
Securities available for sale, amortized cost, total other securities130,000 130,000
Securities available for sale, fair value123,516 123,050
Securities available for sale, gross unrealized gains192 0
Securities available for sale, gross unrealized losses6,676 6,950
US States and Political Subdivisions Debt Securities [Member]
Securities held-to-maturity, amortized cost50,654 50,954
Securities held-to-maturity, fair value53,268 53,998
Securities held-to-maturity, gross unrealized gains2,614 3,044
Securities held-to-maturity, gross unrealized losses0
Securities held-to-maturity, allowance for credit losses(402)
Securities available for sale, amortized cost, total other securities65 12,797
Securities available for sale, fair value65 12,916
Securities available for sale, gross unrealized gains0 119
Securities available for sale, gross unrealized losses0 0
Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost50,654 50,954
Securities held-to-maturity, fair value53,268 53,998
Securities held-to-maturity, gross unrealized gains2,614 3,044
Securities held-to-maturity, gross unrealized losses0
Securities held-to-maturity, allowance for credit losses(402) $ (402)
Securities available for sale, fair value234,721 248,651
Mutual Fund Debt Securities [Member]
Securities available for sale, amortized cost, total other securities12,691 12,216
Securities available for sale, fair value12,691 12,216
Securities available for sale, gross unrealized gains0 0
Securities available for sale, gross unrealized losses0 0
FNMA [Member]
Securities held-to-maturity, amortized cost7,919 7,934
Securities held-to-maturity, fair value9,198 8,114
Securities held-to-maturity, gross unrealized gains1,279 180
Securities held-to-maturity, gross unrealized losses0
Securities available for sale, amortized cost, total other securities129,140 104,235
Securities available for sale, fair value132,001 104,882
Securities available for sale, gross unrealized gains2,883 1,073
Securities available for sale, gross unrealized losses22 426
Collateralized Debt Obligations [Member]
Securities available for sale, amortized cost, total other securities100,473 100,349
Securities available for sale, fair value97,300 99,137
Securities available for sale, gross unrealized gains0 0
Securities available for sale, gross unrealized losses3,173 1,212
Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost7,919 7,934
Securities held-to-maturity, fair value9,198 8,114
Securities held-to-maturity, gross unrealized gains1,279 180
Securities held-to-maturity, gross unrealized losses0
Securities available for sale, amortized cost, total other securities375,884 521,600
Securities available for sale, fair value386,235 523,849
Securities available for sale, gross unrealized gains10,443 4,188
Securities available for sale, gross unrealized losses92 1,939
Other Securities [Member]
Securities available for sale, amortized cost, total other securities1,149 1,332
Securities available for sale, fair value1,149 1,332
Securities available for sale, gross unrealized gains0 0
Securities available for sale, gross unrealized losses0 0
Available for Sale Securities Excluding Mortgage Backed Securities [Member]
Securities available for sale, amortized cost, total other securities244,378 256,694
Securities available for sale, fair value234,721 248,651
Securities available for sale, gross unrealized gains192 119
Securities available for sale, gross unrealized losses9,849 8,162
REMIC and CMO [Member]
Securities available for sale, amortized cost, total other securities206,973 348,236
Securities available for sale, fair value213,941 348,989
Securities available for sale, gross unrealized gains7,007 2,193
Securities available for sale, gross unrealized losses39 1,440
GNMA [Member]
Securities available for sale, amortized cost, total other securities505 653
Securities available for sale, fair value554 704
Securities available for sale, gross unrealized gains49 51
Securities available for sale, gross unrealized losses0 0
FHLMC [Member]
Securities available for sale, amortized cost, total other securities39,266 68,476
Securities available for sale, fair value39,739 69,274
Securities available for sale, gross unrealized gains504 871
Securities available for sale, gross unrealized losses $ 31 $ 73

Securities - Securities Availab

Securities - Securities Available-for-sale and Held-to-maturity by Contractual Maturity (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Securities held-to-maturity, amortized cost, due after ten years $ 50,654
Securities held-to-maturity, fair value, due after ten years53,268
Securities held-to-maturity, amortized cost58,573 $ 58,888
Securities held-to-maturity, fair value62,466 62,112
Securities available for sale, amortized cost, due after one years through five years45,000
Securities available for sale, fair value, due after one years through five years43,654
Securities available for sale, amortized cost, due after five years through ten years110,431
Securities available for sale, fair value, due after five years through ten years104,599
Securities available for sale, amortized cost, due after ten years76,256
Securities available for sale, fair value, due after ten years73,777
Securities available for sale, amortized cost, total other securities620,262 778,294
Securities available for sale, fair value, total other securities620,956 772,500
Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost50,654 50,954
Securities held-to-maturity, fair value53,268 53,998
Securities available for sale, fair value, total other securities234,721 248,651
Total Other Securities [Member]
Securities available for sale, amortized cost, total other securities231,687
Securities available for sale, fair value, total other securities222,030
Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost7,919 7,934
Securities held-to-maturity, fair value9,198 8,114
Securities available for sale, amortized cost, total other securities375,884 521,600
Securities available for sale, fair value, total other securities386,235 523,849
Mutual Fund Debt Securities [Member]
Securities available for sale, amortized cost, total other securities12,691 12,216
Securities available for sale, fair value, total other securities $ 12,691 $ 12,216

Securities - Available for Sale

Securities - Available for Sale Securities With Gross Unrealized Losses and Their Fair Value (Details)Sep. 30, 2020USD ($)Dec. 31, 2019USD ($)
Securities have been in a continuous unrealized loss position, number of positions32 62
Securities have been in a continuous unrealized loss position, fair value $ 238,435,000 $ 441,043,000
Securities have been in a continuous unrealized loss position, unrealized losses9,941,000 10,101,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value26,453,000 146,957,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses253,000 1,363,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value211,982,000 294,086,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses9,688,000 8,738,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 253,000 $ 1,363,000
Other Debt Obligations [Member]
Securities have been in a continuous unrealized loss position, number of positions27 29
Securities have been in a continuous unrealized loss position, fair value $ 210,623,000 $ 222,187,000
Securities have been in a continuous unrealized loss position, unrealized losses9,849,000 8,162,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value7,293,000 25,451,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses183,000 108,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value203,330,000 196,736,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses9,666,000 8,054,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 183,000 $ 108,000
FNMA [Member]
Securities have been in a continuous unrealized loss position, number of positions1 8
Securities have been in a continuous unrealized loss position, fair value $ 8,652,000 $ 67,618,000
Securities have been in a continuous unrealized loss position, unrealized losses22,000 426,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value0 19,073,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses0 138,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value8,652,000 48,545,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses22,000 288,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 0 $ 138,000
Collateralized Mortgage Backed Securities [Member]
Securities have been in a continuous unrealized loss position, number of positions5 33
Securities have been in a continuous unrealized loss position, fair value $ 27,812,000 $ 218,856,000
Securities have been in a continuous unrealized loss position, unrealized losses92,000 1,939,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value19,160,000 121,506,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses70,000 1,255,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value8,652,000 97,350,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses22,000 684,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 70,000 $ 1,255,000
Corporate Debt Securities [Member]
Securities have been in a continuous unrealized loss position, number of positions14 16
Securities have been in a continuous unrealized loss position, fair value $ 113,324,000 $ 123,050,000
Securities have been in a continuous unrealized loss position, unrealized losses6,676,000 6,950,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value0 0
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses0 0
Securities have been in a continuous unrealized loss position, 12 months or more, fair value113,324,000 123,050,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses6,676,000 6,950,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 0 $ 0
Collateralized Loan Obligations [Member]
Securities have been in a continuous unrealized loss position, number of positions13 13
Securities have been in a continuous unrealized loss position, fair value $ 97,299,000 $ 99,137,000
Securities have been in a continuous unrealized loss position, unrealized losses3,173,000 1,212,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value7,293,000 25,451,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses183,000 108,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value90,006,000 73,686,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses2,990,000 1,104,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 183,000 $ 108,000
REMIC and CMO [Member]
Securities have been in a continuous unrealized loss position, number of positions2 23
Securities have been in a continuous unrealized loss position, fair value $ 5,663,000 $ 120,989,000
Securities have been in a continuous unrealized loss position, unrealized losses39,000 1,440,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value5,663,000 102,384,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses39,000 1,117,000
Securities have been in a continuous unrealized loss position, 12 months or more, fair value0 18,605,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses0 323,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 39,000 $ 1,117,000
FHLMC [Member]
Securities have been in a continuous unrealized loss position, number of positions1 1
Securities have been in a continuous unrealized loss position, fair value $ 13,449,000 $ 30,200,000
Securities have been in a continuous unrealized loss position, unrealized losses31,000 73,000
Securities have been in a continuous unrealized loss position, less than 12 months, fair value13,449,000 0
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses31,000 0
Securities have been in a continuous unrealized loss position, 12 months or more, fair value0 30,200,000
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses0 73,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 31,000 $ 0
GNMA [Member]
Securities have been in a continuous unrealized loss position, number of positions1 1
Securities have been in a continuous unrealized loss position, fair value $ 48,000 $ 49,000
Securities have been in a continuous unrealized loss position, unrealized losses0
Securities have been in a continuous unrealized loss position, less than 12 months, fair value48,000 49,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses0 0
Securities have been in a continuous unrealized loss position, 12 months or more, fair value0 0
Securities have been in a continuous unrealized loss position, 12 months or more, unrealized losses0 0
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses0 $ 0
Maximum [Member] | GNMA [Member]
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses1,000
Securities have been in a continuous unrealized loss position, less than 12 months, unrealized losses $ 1,000

Securities - Allowance for cred

Securities - Allowance for credit losses for debt securities held-to-maturity (Details) $ in Thousands9 Months Ended
Sep. 30, 2020USD ($)
Activity in the allowance for credit losses for debt securities held-to-maturity
Allowance for credit losses - securities $ 402
Other Debt Obligations [Member]
Activity in the allowance for credit losses for debt securities held-to-maturity
CECL adoption340
Provision62
Allowance for credit losses - securities $ 402

Securities - Gross Gain (Loss)

Securities - Gross Gain (Loss) Realized From the Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Notes to Financial Statements
Gross gains from the sale of securities $ 1,476 $ 423
Gross losses from the sale of securities(1,567)(438)
Net losses from the sale of securities $ (91) $ (15)

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses (Details) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)loanSep. 30, 2019USD ($)loanSep. 30, 2020USD ($)itemloanSep. 30, 2019USD ($)loanJun. 30, 2020USD ($)Dec. 31, 2019USD ($)Jun. 30, 2019USD ($)Dec. 31, 2018USD ($)
Number of business units | item3
Allowance for credit losses $ 38,343 $ 22,035 $ 38,343 $ 22,035 $ 36,710 $ 21,751 $ 21,510 $ 20,945
Percentage of financing receivable on total loans0.65%
Percentage of financing receivable on gross loans154.70%
Payback protection program , maximum fund $ 111,600 $ 111,600
Number of contracts | loan0 0 0 0
Non-accrual loans12,813
Minimum [Member]
Term of Deferral interest and principal payments1 month
Maximum [Member]
Term of Deferral interest and principal payments12 months
Interest and dividends receivable
Interest Receivable $ 33,500 $ 33,500
Extension Of Credit [Member]
Commitments and contingencies (Note 15)86,200 86,200
Extension Of Lines Of Credit [Member]
Commitments and contingencies (Note 15) $ 282,500 $ 282,500
Loans Receivable [Member]
Number of active forbearances | loan509 509
Outstanding balance in active forbearance $ 846,200 $ 846,200 1,300,000
Financing Receivable28,400 28,400
Commercial Real Estate Portfolio Segment [Member]
Allowance for credit losses8,547 $ 4,364 8,547 $ 4,364 6,971 4,429 4,265 4,315
Multi-family Residential Portfolio Segment [Member]
Allowance for credit losses7,396 5,377 7,396 5,377 8,935 5,391 5,506 5,676
Taxi Medallion Portfolio Segment [Member] | Performing Financial Instruments [Member]
Non-accrual loans100 100 1,700
Commercial Business and Other Portfolio Segment [Member]
Allowance for credit losses17,941 $ 8,968 17,941 $ 8,968 $ 15,248 8,554 $ 8,444 $ 7,591
Commercial Business and Other Portfolio Segment [Member] | Performing Financial Instruments [Member]
Non-accrual loans1,000 1,000 $ 900
Overdrafts [Member]
Recorded provision for loans losses $ 2,500 $ 19,200

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses - Loans Modified and Classified as TDR (Details)9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)loan
Number1 3
Balance $ 270,000 $ 951,000
Loans and Leases Receivable, Impaired, Commitment to Lend $ 0
One-To-Four Family - Mixed Used Property [Member]
Number1
Balance $ 270,000
Commercial Business and Other [Member]
Number | loan3
Balance $ 951,000

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses - Troubled Debt Restructurings That Are Performing (Details)9 Months Ended12 Months Ended
Sep. 30, 2020USD ($)contractSep. 30, 2019loanDec. 31, 2019USD ($)contract
Number1 3
Performing Financial Instruments [Member]
Number | contract19 24
Amortized Cost $ 5,182,000
Recorded investment $ 6,494,000
Multi-Family Residential [Member] | Performing Financial Instruments [Member]
Number | contract7 7
Amortized Cost $ 1,876,000
Recorded investment $ 1,873,000
One-To-Four Family - Mixed Used Property [Member]
Number1
One-To-Four Family - Mixed Used Property [Member] | Performing Financial Instruments [Member]
Number | contract5 4
Amortized Cost $ 1,744,000
Recorded investment $ 1,481,000
One-To-Four Family - Residential [Member] | Performing Financial Instruments [Member]
Number | contract3 3
Amortized Cost $ 513,000
Recorded investment $ 531,000
Taxi Medallion Portfolio Segment [Member] | Performing Financial Instruments [Member]
Number | contract1 7
Amortized Cost $ 99,000
Recorded investment $ 1,668,000
Commercial Business and Other [Member]
Number | loan3
Commercial Business and Other [Member] | Performing Financial Instruments [Member]
Number | contract3 3
Amortized Cost $ 950,000
Recorded investment $ 941,000

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses - Troubled Debt Restructurings That Are Not Performing (Details) $ in Thousands3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2020loanSep. 30, 2019loanSep. 30, 2020USD ($)contractloanSep. 30, 2019loanDec. 31, 2019USD ($)contract
Number of contracts | loan0 0 0 0
Nonperforming Financial Instruments [Member]
Number of contracts | contract11 5
Recorded investment, not performing | $ $ 2,102 $ 1,344
Taxi Medallion Portfolio Segment [Member] | Nonperforming Financial Instruments [Member]
Number of contracts | contract10 4
Recorded investment, not performing | $ $ 1,823 $ 1,065
Commercial Business and Other Portfolio Segment [Member] | Nonperforming Financial Instruments [Member]
Number of contracts | contract1 1
Recorded investment, not performing | $ $ 279 $ 279

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses - Non-performing Loans (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Loans ninety days or more past due and still accruing $ 445
Non-accrual loans12,813
Total non-performing loans13,258
Mortgage Receivable [Member]
Non-accrual loans8,076
Non-Mortgage Loans [Member]
Non-accrual loans4,737
Multi-family Residential Portfolio Segment [Member]
Loans ninety days or more past due and still accruing445
Multi-family Residential Portfolio Segment [Member] | Mortgage Receivable [Member]
Non-accrual loans2,296
Commercial Real Estate Portfolio Segment [Member] | Mortgage Receivable [Member]
Non-accrual loans367
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Mortgage Receivable [Member]
Non-accrual loans274
One-To-Four Family - Residential Portfolio Segment [Member] | Mortgage Receivable [Member]
Non-accrual loans5,139
Small Business Administration Portfolio Segment [Member] | Non-Mortgage Loans [Member]
Non-accrual loans1,151
Taxi Medallion Portfolio Segment [Member] | Non-Mortgage Loans [Member]
Non-accrual loans1,641
Commercial Business and Other Portfolio Segment [Member] | Non-Mortgage Loans [Member]
Non-accrual loans1,945
Performing Financial Instruments [Member] | One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Non-accrual loans $ 300
Performing Financial Instruments [Member] | Taxi Medallion Portfolio Segment [Member]
Non-accrual loans100 1,700
Performing Financial Instruments [Member] | Commercial Business and Other Portfolio Segment [Member]
Non-accrual loans $ 1,000 $ 900

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses - Foregone on Non-accrual Loans and Loans Classified as TDR (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Note 3 - Loans and Allowance for Loan Losses - Summary of Interest Foregone on Non-accrual Loans and Loans Classified as TDR (Details)
Interest income that would have been recognized had the loans performed in accordance with their original terms $ 491 $ 416 $ 1,296 $ 1,224
Less: Interest income included in the results of operations78 89 240 330
Total foregone interest $ 413 $ 327 $ 1,056 $ 894

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses - Age Analysis of Recorded Investment in Loans (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Loans, Past Due $ 35,250 $ 28,928
Loans, Current5,906,148 5,728,007
Total Loans5,941,398 5,756,935
Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due10,500 8,219
Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due2,316 8,027
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due22,434 12,682
Multi-family Residential Portfolio Segment [Member]
Loans, Past Due7,999 8,346
Loans, Current2,251,453 2,230,245
Total Loans2,259,452 2,238,591
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due4,499 4,042
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due777 1,563
Multi-family Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due2,723 2,741
Commercial Real Estate Portfolio Segment [Member]
Loans, Past Due3,431 5,308
Loans, Current1,635,986 1,576,700
Total Loans1,639,417 1,582,008
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due525 0
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due192 4,941
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due2,714 367
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Loans, Past Due5,036 1,887
Loans, Current584,562 590,584
Total Loans589,598 592,471
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due3,048 1,117
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due559 496
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due1,429 274
One-To-Four Family - Residential Portfolio Segment [Member]
Loans, Past Due8,729 6,881
Loans, Current192,052 181,335
Total Loans200,781 188,216
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due2,118 720
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due689 1,022
One-To-Four Family - Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due5,922 5,139
Co-Operative Apartments Portfolio Segment [Member]
Loans, Past Due0
Loans, Current8,663
Total Loans8,663
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due0
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due0
Co-Operative Apartments Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due0
Construction Portfolio Segment [Member]
Loans, Past Due0 0
Loans, Current63,406 67,754
Total Loans63,406 67,754
Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due0 0
Construction Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due0 0
Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due0 0
Small Business Administration Portfolio Segment [Member]
Loans, Past Due1,169 1,151
Loans, Current122,311 13,294
Total Loans123,480 14,445
Small Business Administration Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due0 0
Small Business Administration Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due0 0
Small Business Administration Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due1,169 1,151
Taxi Medallion Portfolio Segment [Member]
Loans, Past Due2,318 1,065
Loans, Current0 2,244
Total Loans2,318 3,309
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due198 0
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due99 0
Taxi Medallion Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due2,021 1,065
Commercial Business and Other Portfolio Segment [Member]
Loans, Past Due6,568 4,290
Loans, Current1,056,378 1,057,188
Total Loans1,062,946 1,061,478
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, Past Due112 2,340
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, Past Due0 5
Commercial Business and Other Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, Past Due $ 6,456 $ 1,945

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Beginning balance $ 36,710 $ 21,510 $ 21,751 $ 20,945
Impact of CECL Adoption379
Charge-off's(964)(431)(3,253)(2,683)
Recoveries127 273 260 644
Provision (benefit)2,470 683 19,206 3,129
Ending balance38,343 22,035 38,343 22,035
Multi-family Residential Portfolio Segment [Member]
Beginning balance8,935 5,506 5,391 5,676
Impact of CECL Adoption(650)
Charge-off's(189)(190)
Recoveries14 6 27 30
Provision (benefit)(1,553)54 2,628 (139)
Ending balance7,396 5,377 7,396 5,377
Commercial Real Estate Portfolio Segment [Member]
Beginning balance6,971 4,265 4,429 4,315
Impact of CECL Adoption1,170
Recoveries7
Provision (benefit)1,576 99 2,948 42
Ending balance8,547 4,364 8,547 4,364
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Beginning balance2,826 1,786 1,817 1,867
Impact of CECL Adoption(55)
Charge-off's(3)(1)
Recoveries60 140 138 228
Provision (benefit)(1,208)(120)(219)(288)
Ending balance1,678 1,806 1,678 1,806
One-To-Four Family - Residential Portfolio Segment [Member]
Beginning balance1,161 746 756 749
Impact of CECL Adoption(160)
Charge-off's(113)
Recoveries2 3 10 10
Provision (benefit)(483)(4)74 99
Ending balance680 745 680 745
Construction Portfolio Segment [Member]
Beginning balance183 381 441 329
Impact of CECL Adoption(279)
Provision (benefit)35 37 56 89
Ending balance218 418 218 418
Small Business Administration Portfolio Segment [Member]
Beginning balance1,386 382 363 418
Impact of CECL Adoption1,180
Charge-off's(178)
Recoveries47 32 67 52
Provision (benefit)450 (57)451 (113)
Ending balance1,883 357 1,883 357
Taxi Medallion Portfolio Segment [Member]
Charge-off's(951)(951)
Recoveries134
Provision (benefit)951 951 (134)
Commercial Business and Other Portfolio Segment [Member]
Beginning balance15,248 8,444 8,554 7,591
Impact of CECL Adoption(827)
Charge-off's(13)(242)(2,121)(2,379)
Recoveries4 92 18 183
Provision (benefit)2,702 674 12,317 3,573
Ending balance $ 17,941 $ 8,968 $ 17,941 $ 8,968

Loans and Allowance for Loan _9

Loans and Allowance for Loan Losses - Non-Accrual at Amortized Cost (Details) - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Dec. 31, 2019
Total Non-Accrual Amortized Cost $ 25,828
Non-Accrual with no related Allowance23,006
Interest Income Recognized32
Loans ninety days or more past due and still accruing $ 445
Multi-family Residential Portfolio Segment [Member]
Total Non-Accrual Amortized Cost2,723
Non-Accrual with no related Allowance2,723
Loans ninety days or more past due and still accruing $ 445
Commercial Real Estate Portfolio Segment [Member]
Total Non-Accrual Amortized Cost2,714
Non-Accrual with no related Allowance2,714
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Total Non-Accrual Amortized Cost1,704
Non-Accrual with no related Allowance1,704
One-To-Four Family - Residential Portfolio Segment [Member]
Total Non-Accrual Amortized Cost5,922
Non-Accrual with no related Allowance5,922
Small Business Administration Portfolio Segment [Member]
Total Non-Accrual Amortized Cost1,169
Non-Accrual with no related Allowance1,169
Commercial Business and Other Portfolio Segment [Member]
Total Non-Accrual Amortized Cost9,278
Non-Accrual with no related Allowance6,456
Interest Income Recognized32
Taxi Medallion Portfolio Segment [Member]
Total Non-Accrual Amortized Cost2,318
Non-Accrual with no related Allowance $ 2,318

Loans and Allowance for Loan_10

Loans and Allowance for Loan Losses - Risk category of our loan portfolio (Details) $ in ThousandsSep. 30, 2020USD ($)
2020 $ 591,683
2019913,660
2018972,833
2017736,161
2016651,192
Prior1,841,327
Revolving Loans Amortized Cost Basis212,208
Lines of credit converted to term loans22,334
One-To-Four Family - Residential Portfolio Segment [Member]
202023,224
201925,030
201827,827
201715,548
201612,191
Prior66,650
Revolving Loans Amortized Cost Basis7,977
Lines of credit converted to term loans22,334
One-To-Four Family - Residential Portfolio Segment [Member] | Pass [Member]
202022,735
201925,030
201827,827
201715,548
201611,231
Prior59,657
Revolving Loans Amortized Cost Basis7,678
Lines of credit converted to term loans18,095
One-To-Four Family - Residential Portfolio Segment [Member] | Watch [Member]
2020489
Prior2,936
Revolving Loans Amortized Cost Basis299
Lines of credit converted to term loans2,011
One-To-Four Family - Residential Portfolio Segment [Member] | Special Mention [Member]
Prior667
Lines of credit converted to term loans492
One-To-Four Family - Residential Portfolio Segment [Member] | Substandard [Member]
2016960
Prior3,390
Lines of credit converted to term loans1,736
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
202027,156
201968,993
201876,916
201761,936
201654,490
Prior300,107
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Pass [Member]
202027,156
201966,500
201874,828
201759,923
201653,344
Prior288,858
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Watch [Member]
20191,873
2018903
20172,013
20161,146
Prior8,556
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Special Mention [Member]
2018379
Prior1,179
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Substandard [Member]
2019620
2018806
Prior1,514
Commercial Real Estate Portfolio Segment [Member]
2020118,019
2019260,101
2018281,920
2017194,667
2016241,756
Prior542,954
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
2020118,019
2019248,812
2018281,920
2017189,592
2016213,553
Prior482,495
Commercial Real Estate Portfolio Segment [Member] | Watch [Member]
20198,606
20174,883
201628,203
Prior58,587
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
2019981
2017192
Prior861
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
20191,702
Prior1,011
Construction Portfolio Segment [Member]
202010,058
201915,637
201837,711
Construction Portfolio Segment [Member] | Pass [Member]
202010,058
201914,751
201831,402
Construction Portfolio Segment [Member] | Watch [Member]
2019886
20185,631
Construction Portfolio Segment [Member] | Special Mention [Member]
2018678
Multi-family Residential Portfolio Segment [Member]
2020174,397
2019311,135
2018366,297
2017358,743
2016272,871
Prior771,711
Revolving Loans Amortized Cost Basis4,298
Multi-family Residential Portfolio Segment [Member] | Pass [Member]
2020174,397
2019309,564
2018364,298
2017356,206
2016269,388
Prior749,946
Revolving Loans Amortized Cost Basis3,433
Multi-family Residential Portfolio Segment [Member] | Watch [Member]
20191,571
20172,537
20162,784
Prior19,504
Revolving Loans Amortized Cost Basis865
Multi-family Residential Portfolio Segment [Member] | Special Mention [Member]
2016699
Prior776
Multi-family Residential Portfolio Segment [Member] | Substandard [Member]
20181,999
Prior1,485
Commercial Business Secured By Portfolio Segment [member]
202068,713
201991,282
201863,784
201723,371
201647,335
Prior86,115
Commercial Business Secured By Portfolio Segment [member] | Pass [Member]
202068,713
201991,282
201856,704
201722,051
201647,335
Prior82,368
Commercial Business Secured By Portfolio Segment [member] | Watch [Member]
20187,080
20171,320
Prior416
Commercial Business Secured By Portfolio Segment [member] | Substandard [Member]
Prior3,331
Commercial Business Portfolio Segment [Member]
202059,995
2019140,415
2018114,788
201777,427
201619,991
Prior69,661
Revolving Loans Amortized Cost Basis199,834
Commercial Business Portfolio Segment [Member] | Pass [Member]
202059,956
2019137,475
2018108,265
201764,737
201617,573
Prior67,940
Revolving Loans Amortized Cost Basis186,882
Commercial Business Portfolio Segment [Member] | Watch [Member]
20192,889
20184,112
20177,880
Prior10
Revolving Loans Amortized Cost Basis10,935
Commercial Business Portfolio Segment [Member] | Special Mention [Member]
201951
20182,411
20162,418
Revolving Loans Amortized Cost Basis, Net(26)
Commercial Business Portfolio Segment [Member] | Substandard [Member]
202039
20174,810
Prior1,711
Revolving Loans Amortized Cost Basis171
Commercial Business Portfolio Segment [Member] | Doubtful [Member]
Revolving Loans Amortized Cost Basis1,872
Small Business Administration Portfolio Segment [Member]
2020110,121
20191,067
20183,590
20174,469
20162,558
Prior1,675
Small Business Administration Portfolio Segment [Member] | Pass [Member]
2020110,121
20191,067
20183,590
20171,043
20162,551
Prior1,625
Small Business Administration Portfolio Segment [Member] | Watch [Member]
20172,257
Small Business Administration Portfolio Segment [Member] | Special Mention [Member]
Prior50
Small Business Administration Portfolio Segment [Member] | Substandard [Member]
20171,169
20167
Taxi Medallion Portfolio Segment [Member]
Prior2,318
Taxi Medallion Portfolio Segment [Member] | Substandard [Member]
Prior2,318
Other Portfolio Segment [Member]
Prior136
Revolving Loans Amortized Cost Basis99
Other Portfolio Segment [Member] | Pass [Member]
Prior136
Revolving Loans Amortized Cost Basis $ 99

Loans and Allowance for Loan_11

Loans and Allowance for Loan Losses - Loans Designated as Criticized or Classified (Details) $ in ThousandsDec. 31, 2019USD ($)
Loans designated as criticized or classified $ 38,046
Special Mention [Member]
Loans designated as criticized or classified13,747
Substandard [Member]
Loans designated as criticized or classified24,033
Doubtful [Member]
Loans designated as criticized or classified266
Loss [Member]
Loans designated as criticized or classified0
Multi-family Residential Portfolio Segment [Member]
Loans designated as criticized or classified4,306
Multi-family Residential Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified1,563
Multi-family Residential Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified2,743
Multi-family Residential Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
Multi-family Residential Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
Commercial Real Estate Portfolio Segment [Member]
Loans designated as criticized or classified5,892
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified5,525
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified367
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
Commercial Real Estate Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Loans designated as criticized or classified2,038
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified1,585
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified453
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
One-To-Four Family - Residential Portfolio Segment [Member]
Loans designated as criticized or classified6,882
One-To-Four Family - Residential Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified1,095
One-To-Four Family - Residential Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified5,787
One-To-Four Family - Residential Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
One-To-Four Family - Residential Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
Construction Portfolio Segment [Member]
Loans designated as criticized or classified0
Construction Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified0
Construction Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified0
Construction Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
Construction Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
Small Business Administration Portfolio Segment [Member]
Loans designated as criticized or classified140
Small Business Administration Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified55
Small Business Administration Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified85
Small Business Administration Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
Small Business Administration Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
Taxi Medallion Portfolio Segment [Member]
Loans designated as criticized or classified3,309
Taxi Medallion Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified0
Taxi Medallion Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified3,309
Taxi Medallion Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified0
Taxi Medallion Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified0
Commercial Business and Other Portfolio Segment [Member]
Loans designated as criticized or classified15,479
Commercial Business and Other Portfolio Segment [Member] | Special Mention [Member]
Loans designated as criticized or classified3,924
Commercial Business and Other Portfolio Segment [Member] | Substandard [Member]
Loans designated as criticized or classified11,289
Commercial Business and Other Portfolio Segment [Member] | Doubtful [Member]
Loans designated as criticized or classified266
Commercial Business and Other Portfolio Segment [Member] | Loss [Member]
Loans designated as criticized or classified $ 0

Loans and Allowance for Loan_12

Loans and Allowance for Loan Losses - Amortized Cost of Collateral (Details) $ in ThousandsSep. 30, 2020USD ($)
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type $ 16,394
Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type8,483
Multi-family Residential Portfolio Segment [Member] | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type2,723
Commercial Real Estate Portfolio Segment [Member] | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type6,045
One-To-Four Family - Mixed-Use Property Portfolio Segment [Member] | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type1,704
One-To-Four Family - Residential Portfolio Segment [Member] | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type5,922
Small Business Administration Portfolio Segment [Member] | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type1,169
Commercial Business and Other Portfolio Segment [Member] | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type4,996
Taxi Medallion Portfolio Segment [Member] | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collateral Type $ 2,318

Loans and Allowance for Loan_13

Loans and Allowance for Loan Losses - Off-Balance Sheet Credit Losses (Details) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2020USD ($)
Other operating expense
Financing Receivable, Allowance for Credit Loss [Line Items]
Credit loss expense for off-balance-sheet $ 0.3 $ 1
Other Liabilities
Financing Receivable, Allowance for Credit Loss [Line Items]
Off-balance-sheet credit losses $ 1.6 $ 1.6

Loans Held for Sale (Details)

Loans Held for Sale (Details) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)loanSep. 30, 2019loanDec. 31, 2019USD ($)
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ $ 0 $ 0
Performing Financial Instruments [Member]
Loans sold | loan0 3

Loans Held for Sale - Delinquen

Loans Held for Sale - Delinquent and Non-performing Loans Sold During the Period Indicated (Details) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020loanSep. 30, 2019USD ($)loanSep. 30, 2020USD ($)loanSep. 30, 2019USD ($)loan
Nonperforming Financial Instruments [Member]
Loans sold | loan2 2 5
Proceeds $ 3,948 $ 580 $ 5,118
Net (charge-offs) recoveries0 (1)
Net gain (loss) $ 204 $ 42 $ 267
Nonperforming Financial Instruments [Member] | Multi-family Residential Portfolio Segment [Member]
Loans sold | loan1 1 3
Proceeds $ 700 $ 284 $ 1,465
Net (charge-offs) recoveries0 0
Net gain (loss) $ 204 $ 42 $ 267
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans sold | loan1
Proceeds $ 3,248
Net (charge-offs) recoveries0
Net gain (loss) $ 0
Nonperforming Financial Instruments [Member] | One-To-Four Family - Mixed-Use Property Portfolio Segment [Member]
Loans sold | loan1 1
Proceeds $ 296 $ 405
Net (charge-offs) recoveries0 (1)
Net gain (loss) $ 0 $ 0
Nonperforming Financial Instruments [Member] | Small Business Administration Portfolio Segment [Member]
Loans sold | loan1
Proceeds $ 3,248
Performing Financial Instruments [Member]
Loans sold | loan0 3
Proceeds $ 2,069
Net (charge-offs) recoveries0
Net gain (loss) $ 114
Performing Financial Instruments [Member] | Small Business Administration Portfolio Segment [Member]
Loans sold | loan3
Proceeds $ 2,069
Net (charge-offs) recoveries0
Net gain (loss) $ 114

Other Real Estate Owned (Detail

Other Real Estate Owned (Details) - USD ($) $ in MillionsSep. 30, 2020Dec. 31, 2019
Consumer Portfolio Segment [Member]
Mortgage Loans in Process of Foreclosure, Amount $ 6.1 $ 6.6

Other Real Estate Owned - Chang

Other Real Estate Owned - Changes in Other Real Estate Owned (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2020Sep. 30, 2019
Note 5 - Other Real Estate Owned - Changes in Other Real Estate Owned ("OREO") (Details)
Balance at beginning of period $ 208 $ 239 $ 0
Acquisitions0 239
Write-down of carrying value(31)0
Sales(208)(208)0
Balance at end of period $ 0 $ 0 $ 239

Other Real Estate Owned - Gross

Other Real Estate Owned - Gross Gains, Gross Losses and Write-downs of OREO (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Note 5 - Other Real Estate Owned - Gross Gains, Gross Losses and Write-downs of OREO (Details)
Gross gains $ 0 $ 0 $ 0 $ 0
Gross losses(5)(5)
Write-down of carrying value(31) $ 0
Total income $ (5) $ (36)

Leases (Details)

Leases (Details)3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)leaseSep. 30, 2019USD ($)Sep. 30, 2020USD ($)leaseSep. 30, 2019USD ($)Dec. 31, 2019
Number of new branch lease | lease1
Short-term lease expense | $ $ 34,000 $ 34,000 $ 102,000 $ 102,000
Variable lease payments | $300,000 200,000 800,000 600,000
Operating lease cost | $ $ 1,895,000 1,891,000 $ 5,676,000 $ 5,676,000
Weighted-average remaining lease term-operating leases (Year)8 years 2 months 12 days8 years 2 months 12 days8 years
Weighted average discount rate-operating leases3.60%3.60%3.80%
Minimum [Member]
Term of contract2 months2 months
Maximum [Member]
Term of contract15 years15 years
Branches And Office Space [Member]
Number of leases | lease22 22
Vehicles [Member]
Number of leases | lease9 9
Equipment [Member]
Number of leases | lease1 1
Professional Services [Member]
Short-term lease expense | $ $ 34,000 $ 34,000

Leases - Balance Sheet Disclosu

Leases - Balance Sheet Disclosures and Components of Lease Expense (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Leases [Abstract]
Right of Use Asset $ 42,326,000 $ 42,326,000 $ 41,254,000
Operating lease liability $ 49,737,000 $ 49,737,000 $ 49,367,000
Weighted-average remaining lease term-operating leases (Year)8 years 2 months 12 days8 years 2 months 12 days8 years
Weighted average discount rate-operating leases3.60%3.60%3.80%
Operating lease cost $ 1,895,000 $ 1,891,000 $ 5,676,000 $ 5,676,000
Short-term lease cost34,000 34,000 102,000 102,000
Variable lease cost281,000 267,000 832,000 757,000
Total lease cost2,210,000 2,192,000 6,610,000 6,535,000
Operating cash flows from operating leases2,101,000 2,002,000 6,283,000 6,052,000
Right-of-use assets obtained in exchange for new operating lease liabilities $ 6,772,000 $ 1,253,000 $ 6,822,000 $ 1,295,000

Leases - Minimum Annual Rental

Leases - Minimum Annual Rental Payments for Bank facilities Due Under Non-cancelable Leases (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Leases [Abstract]
2020 $ 1,715
20217,739
20227,491
20237,612
20247,650
Thereafter24,935
Total minimum payments required57,142
Less: implied interest7,405
Total lease obligations $ 49,737 $ 49,367

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($)Jan. 31, 2019Sep. 30, 2020Sep. 30, 2019Mar. 31, 2019Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020
Stock-based compensation (benefit) expense $ 900,000 $ 1,200,000 $ 4,300,000 $ 6,500,000
Income tax benefits related to the stock-based compensation plans $ 200,000 $ 200,000 $ 1,000,000 $ 1,500,000
Stock options outstanding0 0 0
Omnibus Plan 2014 [Member]
Awards vesting period3 years
The 2019 Long-term Incentive Compensation Program [Member]
PRSU Awards, Percentage of Target Award, Below Threshold-level Performance0.00%
PRSU Awards, Percentage of Target Award, Threshold-level Performance50.00%
PRSU Awards, Percentage of Target Award, Target-Level Performance100.00%
PRSU Awards, Percentage of Target Award, Maximum-Level Performance150.00%
Restricted Stock Units (RSUs) [Member]
Awards granted172,728 263,574 0
Restricted Stock Units (RSUs) [Member] | Omnibus Plan 2014 [Member]
Total unrecognized compensation cost $ 6,300,000 $ 6,300,000 $ 6,300,000
Weighted-average period of recognition of compensation cost2 years 6 months
Total fair value of awards vested $ 200,000 $ 700,000 $ 5,200,000 $ 6,900,000
Performance-based Restricted Stock Units [Member]
Awards granted0 8,260 72,143 66,130
Phantom Share Units (PSUs) [Member] | Phantom Stock Plan [Member]
Stock-based compensation (benefit) expense $ 100,000 $ 200,000 $ 1,200,000 $ 100,000
Total fair value of awards vested $ 3,000 $ 1,000 $ 10,000 $ 23,000

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units (Details) - $ / shares3 Months Ended9 Months Ended15 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020
Restricted Stock Units (RSUs) [Member]
Non-vested RSU's, beginning balance (in shares)428,295
Non-vested RSU's, weighted-average grant-date fair value, beginning balance (in dollars per share) $ 24.42
Granted RSU's (in shares)172,728 263,574 0
Granted RSU's, weighted-average grant-date fair value (in dollars per share) $ 19.66
Vested RSU's (in shares)(241,246)
Vested RSU's, weighted-average grant-date fair value (in dollars per share) $ 22.38
Forfeited RSU's (in shares)(5,545)
Forfeited RSU's, weighted-average grant-date fair value (in dollars per share) $ 24.62
Non-vested RSU's, ending balance (in shares)354,232 354,232 354,232
Non-vested RSU's, weighted-average grant-date fair value, ending balance (in dollars per share) $ 23.48 $ 23.48 $ 23.48
Vested RSU's but unissued (in shares)217,642 217,642 217,642
Vested RSU's but unissued, weighted-average grant-date fair value (in dollars per share) $ 23.26 $ 23.26 $ 23.26
Performance-based Restricted Stock Units [Member]
Non-vested RSU's, beginning balance (in shares)34,186
Non-vested RSU's, weighted-average grant-date fair value, beginning balance (in dollars per share) $ 22.38
Granted RSU's (in shares)0 8,260 72,143 66,130
Granted RSU's, weighted-average grant-date fair value (in dollars per share) $ 20.38
Vested RSU's (in shares)(35,149)
Vested RSU's, weighted-average grant-date fair value (in dollars per share) $ 20.54
Forfeited RSU's (in shares)0
Forfeited RSU's, weighted-average grant-date fair value (in dollars per share) $ 0
Non-vested RSU's, ending balance (in shares)71,180 71,180 71,180
Non-vested RSU's, weighted-average grant-date fair value, ending balance (in dollars per share) $ 21.26 $ 21.26 $ 21.26
Vested RSU's but unissued (in shares)62,515 62,515 62,515
Vested RSU's but unissued, weighted-average grant-date fair value (in dollars per share) $ 21.35 $ 21.35 $ 21.35

Stock-based Compensation - Phan

Stock-based Compensation - Phantom Stock Plan (Details)9 Months Ended
Sep. 30, 2020$ / sharesshares
Note 11 - Stock-based Compensation - Phantom Stock Plan (Details)
Outstanding, beginning balance (in shares) | shares109,226
Outstanding, beginning balance (in dollars per share) | $ / shares $ 21.61
Granted (in shares) | shares10,392
Granted (in dollars per share) | $ / shares $ 14.58
Distributions (in shares) | shares(890)
Distributions (in dollars per share) | $ / shares $ 11.73
Outstanding, ending balance (in shares) | shares118,728
Outstanding, ending (in dollars per share) | $ / shares $ 10.52
Vested at September 30, 2020 (in shares) | shares118,677
Vested at September 30, 2020 (in dollars per share) | $ / shares $ 10.52

Pension and Other Postretirem_3

Pension and Other Postretirement Benefit Plans (Details) - USD ($)9 Months Ended
Sep. 30, 2020Dec. 31, 2019
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 Benefits Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 300,000
Defined Benefit Plan, Plan Assets, Contributions by Employer59,000
Retirement Plan [Member] | Savings Bank [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 0

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - The Components of the Net Pension Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Employee Pension Plan [Member]
Interest cost $ 163 $ 199 $ 489 $ 597
Amortization of unrecognized (gain) loss111 68 333 201
Expected return on plan assets(257)(272)(771)(816)
Net pension (benefit) expense17 (5)51 (18)
Directors' Plan [Member]
Service cost4 10 11 30
Interest cost16 21 48 63
Amortization of unrecognized (gain) loss(14)(35)(41)(105)
Amortization of past service credit0 0 0 0
Net pension (benefit) expense6 (4)18 (12)
Other Post Retirement Benefit Plan Defined Benefit [Member]
Service cost69 70 206 210
Interest cost64 85 194 255
Amortization of past service credit(21)(22)(64)(64)
Net pension (benefit) expense $ 112 $ 133 $ 336 $ 401

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Dec. 31, 2019USD ($)
Financial Assets at Fair Value Option $ 14,500 $ 14,500 $ 14,300
Financial Liabilities at Fair Value Option38,300 38,300 44,400
Fair Value, Option, Changes in Fair Value, Gain (Loss)(2,225) $ (2,124)1,987 $ (6,160)
Financial Liabilities at Fair Value Option Contractual Principal61,900 61,900 61,900
Financial Liabilities at Fair Value Option Accrued Interest Payable $ 100 $ 100 $ 200
Appraised Value of Property [Member]
Collateral Dependent Loans Measurement Input85 85
Fair Value, Measurements, Nonrecurring [Member]
Financial and Nonfinancial Liabilities, Fair Value Disclosure $ 0 $ 0
Interest Rate Swap [Member]
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ 600 $ (1,600) $ 3,200 $ 4,300

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Assets and Liabilities Reported Under the Fair Value Option (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Financial Assets at Fair Value Option $ 14,500 $ 14,500 $ 14,300
Net gain (loss) from fair value adjustments(2,225) $ (2,124)1,987 $ (6,160)
Collateralized Mortgage Backed Securities [Member]
Financial Assets at Fair Value Option672 672 772
Net gain (loss) from fair value adjustments(1)0 1 2
Other Securities [Member]
Financial Assets at Fair Value Option13,841 13,841 13,548
Net gain (loss) from fair value adjustments83 107 120 470
Junior Subordinated Debentures [Member]
Financial Assets at Fair Value Option38,287 38,287 $ 44,384
Net gain (loss) from fair value adjustments(2,897)(599)5,086 (2,353)
Financial Assets and Liabilities, Excluding Interest Rate Caps / Swaps [Member]
Net gain (loss) from fair value adjustments $ (2,815) $ (492) $ 5,207 $ (1,881)

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Securities available for sale, fair value $ 620,956 $ 772,500
Collateralized Mortgage Backed Securities [Member]
Securities available for sale, fair value386,235 523,849
Other Securities [Member]
Securities available for sale, fair value1,149 1,332
Fair Value, Measurements, Recurring [Member]
Total assets621,372 774,852
Financial and Nonfinancial Liabilities, Fair Value Disclosure107,882 64,037
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member]
Securities available for sale, fair value386,235 523,849
Fair Value, Measurements, Recurring [Member] | Other Securities [Member]
Securities available for sale, fair value234,721 248,651
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest Rate Swaps, Net Amount69,595 19,653
Fair Value, Measurements, Recurring [Member] | Junior Subordinated Debentures [Member]
Borrowings38,287 44,384
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Total assets12,691 12,216
Financial and Nonfinancial Liabilities, Fair Value Disclosure0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities available for sale, fair value0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Securities [Member]
Securities available for sale, fair value12,691 12,216
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount0 0
Interest Rate Swaps, Net Amount0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debentures [Member]
Borrowings0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Total assets607,532 761,304
Financial and Nonfinancial Liabilities, Fair Value Disclosure69,595 19,653
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities available for sale, fair value386,235 523,849
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Securities [Member]
Securities available for sale, fair value220,881 235,103
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest Rate Swaps, Net Amount69,595 19,653
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debentures [Member]
Borrowings0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Total assets1,149 1,332
Financial and Nonfinancial Liabilities, Fair Value Disclosure38,287 44,384
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities available for sale, fair value0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Securities [Member]
Securities available for sale, fair value1,149 1,332
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount0 0
Interest Rate Swaps, Net Amount0 0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Junior Subordinated Debentures [Member]
Borrowings $ 38,287 $ 44,384

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value on a Recurring Basis, Classified Within Level 3 (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Trust Preferred Securities [Member]
Beginning balance $ 1,068 $ 1,303 $ 1,332 $ 1,256
Net (loss) gain from fair value adjustment of financial assets82 15 (180)64
Increase (decrease) in accrued interest receivable(1)(3)(2)
Ending balance1,149 1,318 1,149 1,318
Junior Subordinated Debentures [Member]
Beginning balance35,570 43,414 44,384 41,849
Net loss (gain) from fair value adjustment of financial liabilities2,897 599 (5,086)2,353
(Decrease) increase in accrued interest payable(19)(15)(104)(27)
Change in unrealized gains included in other comprehensive income(161)(88)(907)(265)
Ending balance38,287 43,910 38,287 43,910
Changes in unrealized gains held at period end $ 2,384 $ 1,513 $ 2,384 $ 1,513

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Quantitative Information About Recurring Level 3 Fair Value of Financial Instruments (Details) $ in ThousandsSep. 30, 2020USD ($)Dec. 31, 2019USD ($)
Securities available for sale, fair value $ 620,956 $ 772,500
Valuation Technique, Discounted Cash Flow [Member] | Junior Subordinated Debentures [Member]
Borrowings $ 38,287 $ 44,384
Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | Junior Subordinated Debentures [Member]
Liabilities, Weighted average5 4.2
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member]
Securities available for sale, fair value $ 1,149 $ 1,332
Trust Preferred Securities [Member] | Valuation Technique, Discounted Cash Flow [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member]
Assets, Weighted average5 4.2

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value on a Non-recurring Basis, Fair Value (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019
Impaired loans $ 4,167 $ 1,081
Other repossessed assets0 239
Total assets4,167 1,320
Fair Value, Inputs, Level 1 [Member]
Impaired loans0 0
Other repossessed assets0 0
Total assets0 0
Fair Value, Inputs, Level 2 [Member]
Impaired loans0 0
Other repossessed assets0 0
Total assets0 0
Fair Value, Inputs, Level 3 [Member]
Impaired loans4,167 1,081
Other repossessed assets0 239
Total assets $ 4,167 $ 1,320

Fair Value of Financial Instr_9

Fair Value of Financial Instruments - Quantitative Information About Non-recurring Level 3 Fair Value of Financial Instruments (Details) $ in ThousandsSep. 30, 2020USD ($)Jun. 30, 2020USD ($)Dec. 31, 2019USD ($)Sep. 30, 2019USD ($)Jun. 30, 2019USD ($)Dec. 31, 2018USD ($)
Other Real Estate $ 0 $ 208 $ 239 $ 239 $ 239 $ 0
Fair Value, Measurements, Nonrecurring [Member]
Impaired loans $ 4,167 1,081
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member]
Impaired loans $ 239
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Minimum [Member]
Impaired loans, measurement input(100)
Other Real Estate, Measurement Input0.5
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Maximum [Member]
Impaired loans, measurement input15
Other Real Estate, Measurement Input12.5
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member]
Impaired loans, measurement input6.5
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member]
Impaired loans $ 2,112
Valuation, Market Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member]
Impaired loans, measurement input(74)
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Discount Rate [Member]
Impaired loans $ 2,055 $ 809
Impaired loans, measurement input6.4
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]
Impaired loans, measurement input4.3
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member]
Impaired loans, measurement input6.4
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Discount Rate [Member] | Weighted Average [Member]
Impaired loans, measurement input5.1 6.4
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member]
Impaired loans, measurement input0.200
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Minimum [Member]
Impaired loans, measurement input0.200
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Maximum [Member]
Impaired loans, measurement input35
Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member]
Impaired loans, measurement input29 0.200
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Cap Rate [Member]
Impaired loans, measurement input9.5
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Cap Rate [Member] | Weighted Average [Member]
Impaired loans, measurement input9.5
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member]
Impaired loans, measurement input15
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Loss Severity [Member] | Weighted Average [Member]
Impaired loans, measurement input15
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member]
Impaired loans $ 272
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member]
Impaired loans, measurement input(10)
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member]
Impaired loans, measurement input15
Blended Income and Sales Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member]
Impaired loans, measurement input2.5

Fair Value of Financial Inst_10

Fair Value of Financial Instruments - Carrying Amounts and Estimated Fair Values of Selected Financial Instruments (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Securities held-to-maturity, amortized cost $ 58,573 $ 58,888
Securities available for sale, fair value620,956 772,500
Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest rate swaps(4,667)388
Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost7,919 7,934
Securities available for sale, fair value386,235 523,849
Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost50,654 50,954
Securities available for sale, fair value234,721 248,651
Reported Value Measurement [Member]
Cash and due from banks75,560 49,787
Loans5,941,398 5,772,206
FHLB-NY stock57,119 56,921
Accrued interest receivable36,068 25,722
Deposits4,963,495 5,066,424
Borrowings1,323,975 1,237,231
Accrued interest payable6,111 6,752
Reported Value Measurement [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest rate swaps69,595 19,653
Reported Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost7,919 7,934
Securities available for sale, fair value386,235 523,849
Reported Value Measurement [Member] | Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost50,654 50,954
Securities available for sale, fair value234,721 248,651
Estimate of Fair Value Measurement [Member]
Cash and due from banks75,560 49,787
Loans6,030,154 5,822,124
FHLB-NY stock57,119 56,921
Accrued interest receivable36,068 25,722
Deposits4,970,920 5,070,046
Borrowings1,333,147 1,389,883
Accrued interest payable6,111 6,752
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest rate swaps69,595 19,653
Estimate of Fair Value Measurement [Member] | Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost9,198 8,114
Securities available for sale, fair value386,235 523,849
Estimate of Fair Value Measurement [Member] | Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost53,268 53,998
Securities available for sale, fair value234,721 248,651
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and due from banks75,560 49,787
Loans0 0
FHLB-NY stock0 0
Accrued interest receivable1 9
Deposits3,911,851 3,628,534
Borrowings0 0
Accrued interest payable0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount0 0
Interest rate swaps0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost0 0
Securities available for sale, fair value0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost0 0
Securities available for sale, fair value12,691 12,216
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and due from banks0 0
Loans0 0
FHLB-NY stock57,119 56,921
Accrued interest receivable1,473 2,519
Deposits1,059,069 1,441,512
Borrowings1,294,860 1,345,499
Accrued interest payable6,111 6,752
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount416 2,352
Interest rate swaps69,595 19,653
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost9,198 8,114
Securities available for sale, fair value386,235 523,849
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost0 0
Securities available for sale, fair value220,881 235,103
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and due from banks0 0
Loans6,030,154 5,822,124
FHLB-NY stock0 0
Accrued interest receivable34,594 23,194
Deposits0 0
Borrowings38,287 44,384
Accrued interest payable0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest Rate Swaps, Net Amount0 0
Interest rate swaps0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member]
Securities held-to-maturity, amortized cost0 0
Securities available for sale, fair value0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member]
Securities held-to-maturity, amortized cost53,268 53,998
Securities available for sale, fair value $ 1,149 $ 1,332

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Junior subordinated debentures $ 38,287 $ 38,287 $ 44,384
Notional amount1,399,269 1,399,269 885,469
Short-term Debt, Total1,021,500 1,021,500 541,500
Amount reclassified from accumulated other comprehensive loss to interest expense1,400 $ 400 2,100 $ 1,300
Amount to be reclassified from the accumulated comprehensive income (loss) into earnings2,900
Derivative instruments(69,179)(69,179)(17,301)
Customer [Member]
Derivative instruments20,600 20,600
Bank [Member]
Derivative instruments20,600 20,600
Customer and Bank [Member]
Derivative instruments41,200 41,200
Not Designated as Hedging Instrument [Member]
Notional amount59,200 59,200 18,000
Designated as Hedging Instrument [Member]
Notional amount318,600 318,600 326,000
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Notional amount1,021,500 1,021,500 541,500
Interest Rate Swap [Member]
Notional amount318,600 318,600 326,000
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Notional amount38,600 38,600 18,000
Derivative instruments(6,990)(6,990)(3,534)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Notional amount1,021,500 1,021,500 541,500
Derivative instruments(28,527)(28,527)(8,350)
Floating Rate Junior Subordinated Debentures [Member]
Amount of hedged item18,000 18,000 18,000
Junior subordinated debentures $ 61,900 $ 61,900 $ 61,900

Derivative Financial Instrume_4

Derivative Financial Instruments - Derivative Financial Instruments (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Interest rate swaps, notional amount $ 1,399,269 $ 885,469
Interest rate swaps, net carrying value(69,179)(17,301)
Designated as Hedging Instrument [Member]
Interest rate swaps, notional amount318,600 326,000
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Interest rate swaps, notional amount1,021,500 541,500
Not Designated as Hedging Instrument [Member]
Interest rate swaps, notional amount59,200 18,000
Interest Rate Swaps 1 [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Interest rate swaps, notional amount139,960
Interest rate swaps, net carrying value2,352
Interest Rate Swaps 1 [Member] | Not Designated as Hedging Instrument [Member]
Interest rate swaps, notional amount20,600
Interest rate swaps, net carrying value416
Interest Rate Swaps 2 [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member]
Interest rate swaps, notional amount318,569 186,009
Interest rate swaps, net carrying value(34,078)(7,769)
Interest Rate Swap [Member]
Interest rate swaps, notional amount318,600 326,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Interest rate swaps, notional amount1,021,500 541,500
Interest rate swaps, net carrying value(28,527)(8,350)
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Interest rate swaps, notional amount38,600 18,000
Interest rate swaps, net carrying value $ (6,990) $ (3,534)

Derivative Financial Instrume_5

Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Income (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Net loss $ (3,211) $ (2,410) $ (12,438) $ (4,837)
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Net loss458 (1,670)(3,518)(4,366)
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other interest expense
Net loss(132)(38)(298)(87)
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Net loss from fair value adjustments
Net loss590 (1,632)(3,220)(4,279)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest and fees on loans
Net loss(1,158)(1,041)(4,863)(1,833)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other interest expense
Net loss $ (2,511) $ 301 $ (4,057) $ 1,362

Derivative Financial Instrume_6

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 ThousandsSep. 30, 2020Dec. 31, 2019
Interest Rate Swaps, Gross Amount of Recognized Assets $ 416 $ 2,352
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition0 0
Interest Rate Swaps, Net Amount of Assets Presented in the Statement of Condition416 2,352
Interest Rate Swaps, Financial Instruments0 0
Interest Rate Swaps, Cash Collateral Received0
Interest Rate Swaps, Net Amount416 2,352
Interest Rate Swaps, Gross Amount of Recognized Liabilities69,595 19,653
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition0
Interest Rate Swaps, Net Amount of Liabilities Presented in the Statement of Condition69,595 19,653
Interest Rate Swaps, Financial Instruments73,812 19,265
Interest Rate Swaps, Cash Collateral Received450 0
Interest Rate Swaps, Net Amount $ (4,667)388
Interest Rate Swaps, Gross Amount Offset in the Statement of Condition $ 0

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provisions (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Note 10 - Income Taxes - Income Tax Provisions (Details)
Federal tax provision, current $ 4,626 $ 3,578 $ 11,290 $ 9,354
Federal tax provision, deferred(1,267)(1,121)(2,635)(1,973)
Total federal tax provision3,359 2,457 8,655 7,381
State and local tax provision, current1,491 1,345 2,975 2,518
State and local tax provision, deferred(361)(1,266)(1,539)(1,804)
Total state and local tax provision1,130 79 1,436 714
Total income tax provision $ 4,489 $ 2,536 $ 10,091 $ 8,095

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Sep. 30, 2020Sep. 30, 2019
Balance $ 571,921 $ 549,683 $ 579,672 $ 565,390 $ 559,559 $ 549,464 $ 579,672 $ 549,464
Total other comprehensive income (loss) , net of tax5,214 8,918 (22,633)(2,353)(74)2,210 (8,501)(217)
Balance586,406 571,921 549,683 568,392 565,390 559,559 586,406 568,392
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Balance(2,708)(3,982)(3,815)(15,649)(3,982)(15,649)
Other comprehensive income before reclassifications, net of tax3,185 (475)4,397 11,349
Amounts reclassified from accumulated other comprehensive income (loss), net of tax0 0 62 10
Total other comprehensive income (loss) , net of tax3,185 (475)4,459 11,359
Balance477 (2,708)(4,290)(3,815)477 (4,290)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance(21,473)(5,863)(6,132)3,704 (5,863)3,704
Other comprehensive income before reclassifications, net of tax937 (1,664)(15,215)(10,914)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax929 (282)1,471 (868)
Total other comprehensive income (loss) , net of tax1,866 (1,946)(13,744)(11,782)
Balance(19,607)(21,473)(8,078)(6,132)(19,607)(8,078)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance(878)(983)(1,658)(1,673)(983)(1,673)
Other comprehensive income before reclassifications, net of tax0 0 0 0
Amounts reclassified from accumulated other comprehensive income (loss), net of tax52 7 157 22
Total other comprehensive income (loss) , net of tax52 7 157 22
Balance(826)(878)(1,651)(1,658)(826)(1,651)
Accumulated Gain (Loss), Financial Liability, Fair Value Option, Attributable to Parent [Member]
Balance1,537 1,021 989 866 1,021 866
Other comprehensive income before reclassifications, net of tax111 61 627 184
Amounts reclassified from accumulated other comprehensive income (loss), net of tax0 0 0 0
Total other comprehensive income (loss) , net of tax111 61 627 184
Balance1,648 1,537 1,050 989 1,648 1,050
AOCI Attributable to Parent [Member]
Balance(23,522)(32,440)(9,807)(10,616)(10,542)(12,752)(9,807)(12,752)
Other comprehensive income before reclassifications, net of tax4,233 (2,078)(10,191)619
Amounts reclassified from accumulated other comprehensive income (loss), net of tax981 (275)1,690 (836)
Total other comprehensive income (loss) , net of tax5,214 8,918 (22,633)(2,353)(74)2,210 (8,501)(217)
Balance $ (18,308) $ (23,522) $ (32,440) $ (12,969) $ (10,616) $ (10,542) $ (18,308) $ (12,969)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Sep. 30, 2020Sep. 30, 2019
Other interest expense $ (13,990) $ (30,440) $ (55,889) $ (88,016)
Other operating expense(3,383)(3,182)(11,303)(11,147)
Total before tax18,820 13,260 41,304 36,443
Tax expense (benefit)(4,489)(2,536)(10,091)(8,095)
Net income14,331 $ 18,272 $ (1,390)10,724 $ 10,556 $ 7,068 31,213 28,348
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Net loss on sale of securities(91)(15)
Tax expense (benefit)29 5
Net income(62)(10)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Tax expense (benefit)423 (127)
Net income(929)282
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Rate Swap [Member]
Other interest expense(1,352)409 (2,140)1,257
Tax expense (benefit)669 (389)
Net income(1,471)(868)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Other operating expense(97)(33)(292)(96)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Other operating expense21 22 64 64
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Total before tax(76)(11)(228)(32)
Tax expense (benefit)24 4 71 10
Net income $ (52) $ (7) $ (157) $ (22)

Regulatory Capital (Details)

Regulatory Capital (Details)Sep. 30, 2020
Capital Conservation Buffer Required for Capital Adequacy2.50%
Savings Bank [Member]
Capital Conservation Buffer5.54%
Holding Company
Capital Conservation Buffer5.71%

Regulatory Capital - Summary of

Regulatory Capital - Summary of the Bank's Compliance (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Tier I (leverage) capital:
Tier i (leverage) capital, capital level, amount $ 694,041 $ 680,749
Tier i (leverage) capital, capital level, percent9.93%9.65%
Tier i (leverage) capital, requirement to be well capitalized, amount $ 349,453 $ 352,581
Tier i (leverage) capital, requirement to be well capitalized, percent5.00%5.00%
Tier i (leverage) capital, excess, amount $ 344,588 $ 328,168
Tier i (leverage) capital, excess, percent4.93%4.65%
Common Equity Tier I risk-based capital:
Common equity tier i risk-based capital, capital level, amount $ 694,041 $ 680,749
Common equity tier i risk-based capital, capital level, percent12.88%13.02%
Common equity tier i risk-based capital, requirement to be well capitalized, amount $ 350,156 $ 339,944
Common equity tier i risk-based capital, requirement to be well capitalized, percent6.50%6.50%
Common equity tier i risk-based capital, excess, amount $ 343,885 $ 340,805
Common equity tier i risk-based capital, excess, percent6.38%6.52%
Tier I risk-based capital:
Tier 1 risk-based capital, capital level, amount $ 694,041 $ 680,749
Tier 1 risk-based capital, capital level, percent12.88%13.02%
Tier 1 risk-based capital, requirement to be well capitalized, amount $ 430,962 $ 418,393
Tier 1 risk-based capital, requirement to be well capitalized, percent8.00%8.00%
Tier 1 risk-based capital, excess, amount $ 263,079 $ 262,356
Tier 1 risk-based capital, excess, percent4.88%5.02%
Total risk-based capital:
Total risk-based capital, capital level, amount $ 729,160 $ 702,500
Total risk-based capital, capital level, percent13.54%13.43%
Total risk-based capital, requirement to be well capitalized, amount $ 538,702 $ 522,991
Total risk-based capital, requirement to be well capitalized, percent10.00%10.00%
Total risk-based capital, excess, amount $ 190,458 $ 179,509
Total risk-based capital, excess, percent3.54%3.43%
Holding Company
Tier I (leverage) capital:
Tier i (leverage) capital, capital level, amount $ 630,380 $ 615,500
Tier i (leverage) capital, capital level, percent9.03%8.73%
Tier i (leverage) capital, requirement to be well capitalized, amount $ 349,174 $ 352,581
Tier i (leverage) capital, requirement to be well capitalized, percent5.00%5.00%
Tier i (leverage) capital, excess, amount $ 281,206 $ 262,919
Tier i (leverage) capital, excess, percent4.03%3.73%
Common Equity Tier I risk-based capital:
Common equity tier i risk-based capital, capital level, amount $ 593,344 $ 572,651
Common equity tier i risk-based capital, capital level, percent11.02%10.95%
Common equity tier i risk-based capital, requirement to be well capitalized, amount $ 349,826 $ 339,929
Common equity tier i risk-based capital, requirement to be well capitalized, percent6.50%6.50%
Common equity tier i risk-based capital, excess, amount $ 243,518 $ 232,722
Common equity tier i risk-based capital, excess, percent4.52%4.45%
Tier I risk-based capital:
Tier 1 risk-based capital, capital level, amount $ 630,380 $ 615,500
Tier 1 risk-based capital, capital level, percent11.71%11.77%
Tier 1 risk-based capital, requirement to be well capitalized, amount $ 430,555 $ 418,374
Tier 1 risk-based capital, requirement to be well capitalized, percent8.00%8.00%
Tier 1 risk-based capital, excess, amount $ 199,825 $ 197,126
Tier 1 risk-based capital, excess, percent3.71%3.77%
Total risk-based capital:
Total risk-based capital, capital level, amount $ 740,499 $ 712,251
Total risk-based capital, capital level, percent13.76%13.62%
Total risk-based capital, requirement to be well capitalized, amount $ 538,194 $ 522,967
Total risk-based capital, requirement to be well capitalized, percent10.00%10.00%
Total risk-based capital, excess, amount $ 202,305 $ 189,284
Total risk-based capital, excess, percent3.76%3.62%

Subsequent Events (Details)

Subsequent Events (Details) $ in MillionsOct. 30, 2020USD ($)sharesSep. 30, 2020USD ($)location
Empire Bancorp Inc
Subsequent Event [Line Items]
Total loan $ 672.3
Merger related expenses $ 1.5
Number Of Branches | location4
Subsequent Event | Empire Bancorp Inc
Subsequent Event [Line Items]
Fair value of consideration transferred $ 87.5
Business acquisition, cash payment $ 54.8
Shares isssued on acquisition | shares2,557,286
Subsequent Event | Empire Bancorp Inc
Subsequent Event [Line Items]
Ownership interest acquired (as a percent)100.00%

New Authoritative Accounting _2

New Authoritative Accounting Pronouncements (Details) - Accounting Standards Update 2016-13 [Member] $ in MillionsJan. 01, 2020USD ($)
Cumulative-effect adjustment to retained earnings $ 1.3
Cumulative-effect adjustment to retained earnings, net of tax0.9
Increase in allowance for loan losses0.4
Increase in allowance for held-to-maturity debt securities0.3
Increase in allowance for off-balance sheet items $ 0.6