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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017
​	​	(In thousands)
Federal:		​			​			​
Current	​	$	12,404	​	$	9,183	​	$	14,859
Deferred	​		(1,965)	​		(609)	​		7,985
Total federal tax provision	​		10,439	​		8,574	​		22,844
State and Local:	​			​			​
Current	​		3,543	​		3,876	​		1,419
Deferred	​		(1,930)	​		(2,055)	​		750
Total state and local tax provision	​		1,613	​		1,821	​		2,169
Total income tax provision	​	$	12,052	​	$	10,395	​	$	25,013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​		2019					2018					2017
​	​	(Dollars in thousands)
Taxes at federal statutory rate	​	$	11,200		21.0	%	$	13,752		21.0	%	$	23,147		35.0	%
Increase (reduction) in taxes resulting from:	​					​					​					​
State and local income tax, net of Federal income tax benefit	​		1,274		2.4	​		1,439		2.2	​		1,410		2.1	​
TCJA	​		—		—	​		—		—	​		3,770		5.7	​
Tax exempt	​		(878)		(1.6)	​		(1,961)		(3.0)	​		(2,429)		(3.7)	​
Other	​		456		0.9	​		(2,835)		(4.3)	​		(885)		(1.3)	​
Taxes at effective rate	​	$	12,052		22.7	%	$	10,395		15.9	%	$	25,013		37.8	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

​

​	​	​	​	​	​	​
​		2019			2018
​	​	(In thousands)
Deferred tax assets:	​	​	​	​	​	​
Postretirement benefits	​	$	7,188	​	$	6,489
Allowance for loan losses	​		6,782	​		6,490
Operating lease liabilities	​	​	12,863	​	​	—
Stock based compensation	​		2,950	​		2,717
Depreciation	​		1,875	​		615
Unrealized loss on securities available for sale	​		1,812	​		7,028
Fair value adjustment on financial assets carried at fair value	​		95	​		227
Fair value hedges	​		1,669	​		638
Adjustment required to recognize funded status of postretirement pension plans	​		447	​		751
Gain on sale of buildings	​		—	​		1,220
Cashflow hedges	​	​	2,668	​	​	—
Other	​		3,057	​		3,113
Net operating loss (NYC)	​		880	​		928
Deferred tax assets	​		42,286	​		30,216
​	​	​	​	​	​	​
Deferred tax liabilities:	​			​
FPFC deferred income	​		2,256	​		2,263
Right of Use Asset	​	​	12,863	​	​	—
Cashflow hedges	​		—	​		1,664
Fair value adjustment on financial liabilities carried at fair value	​		5,003	​		5,815
Entity specific fair value	​		456	​		382
Other	​		6,335	​		6,132
Deferred tax liabilities	​		26,913	​		16,256
​	​	​	​	​	​	​
Net deferred tax asset included in other assets	​	$	15,373	​	$	13,960

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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