Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Assets and Liabilities Reported on Consolidated Statements of Financial Condition at Fair Values

The following tables present the assets and liabilities reported on the consolidated statements of financial condition at their fair value as of December 31, 2017 and 2016, by level within the fair value hierarchy (in thousands).



			Fair Value Measurements at Reporting Date Using:
	December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Securities available for sale:
Agency obligations	$	19,005	19,005	—	—
Mortgage-backed securities	988,367		—	988,367	—
State and municipal obligations	3,388		—	3,388	—
Corporate obligations	26,394		—	26,394	—
Equities	658		658	—	—
Total securities available for sale	$	1,037,812	19,663	1,018,149	—
Derivative assets	7,219		—	7,219
	$	1,045,031	19,663	1,025,368	—

Derivative liabilities	$	6,315	—	6,315	—

Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral	$	6,971	—	—	6,971
Foreclosed assets	6,864		—	—	6,864
	$	13,835	—	—	13,835



			Fair Value Measurements at Reporting Date Using:
	December 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Securities available for sale:
U.S. Treasury obligations	$	8,008	8,008	—	—
Agency obligations	57,188		57,188	—	—
Mortgage-backed securities	951,861		—	951,861	—
State and municipal obligations	3,743		—	3,743	—
Corporate obligations	19,037		—	19,037	—
Equities	549		549	—	—
Total securities available for sale	$	1,040,386	65,745	974,641	—
Derivative assets	7,441		—	7,441	—
	$	1,047,827	65,745	982,082	—

Derivative liabilities	$	6,750	—	6,750	—

Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral	$	11,001	—	—	11,001
Foreclosed assets	7,991		—	—	7,991
	$	18,992	—	—	18,992

Schedule of Financial Instruments at Carrying and Fair Values

The following tables present the Company’s financial instruments at their carrying and fair values as of December 31, 2017 and December 31, 2016. Fair values are presented by level within the fair value hierarchy.



			Fair Value Measurements at December 31, 2017 Using:
(Dollars in thousands)	Carrying value		Fair value	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents	$	190,834	190,834	190,834	—	—
Securities available for sale:
Agency obligations	19,005		19,005	19,005	—	—
Mortgage-backed securities	988,367		988,367	—	988,367	—
State and municipal obligations	3,388		3,388	—	3,388	—
Corporate obligations	26,394		26,394	—	26,394	—
Equity securities	658		658	658	—	—
Total securities available for sale	$	1,037,812	1,037,812	19,663	1,018,149	—
Investment securities held to maturity:
Agency obligations	$	4,308	4,221	4,221	—	—
Mortgage-backed securities	382		396	—	396	—
State and municipal obligations	462,942		470,484	—	470,484	—
Corporate obligations	10,020		9,938	—	9,938	—
Total securities held to maturity	$	477,652	485,039	4,221	480,818	—
FHLBNY stock	81,184		81,184	81,184	—	—
Loans, net of allowance for loan losses	7,265,523		7,217,705	—	—	7,217,705
Derivative assets	7,219		7,219	—	7,219	—

Financial liabilities:
Deposits other than certificates of deposits	$	6,079,357	6,079,357	6,079,357	—	—
Certificates of deposit	634,809		632,744	—	632,744	—
Total deposits	$	6,714,166	6,712,101	6,079,357	632,744	—
Borrowings	1,742,514		1,739,102	—	1,739,102	—
Derivative liabilities	6,315		6,315	—	6,315	—



			Fair Value Measurements at December 31, 2016 Using:
(Dollars in thousands)	Carrying value		Fair value	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents	$	144,297	144,297	144,297	—	—
Securities available for sale:
U.S. Treasury obligations	8,008		8,008	8,008	—	—
Agency obligations	57,188		57,188	57,188	—	—
Mortgage-backed securities	951,861		951,861	—	951,861	—
State and municipal obligations	3,743		3,743	—	3,743	—
Corporate obligations	19,037		19,037	—	19,037	—
Equity securities	549		549	549	—	—
Total securities available for sale	$	1,040,386	1,040,386	65,745	974,641	—
Investment securities held to maturity:
Agency obligations	$	4,306	4,225	4,225	—	—
Mortgage-backed securities	893		924	—	924	—
State and municipal obligations	473,653		474,852	—	474,852	—
Corporate obligations	9,331		9,286	—	9,286	—
Total securities held to maturity	$	488,183	489,287	4,225	485,062	—
FHLBNY stock	75,726		75,726	75,726	—	—
Loans, net of allowance for loan losses	6,941,603		6,924,440	—	—	6,924,440
Derivative assets	7,441		7,441		7,441

Financial liabilities:
Deposits other than certificates of deposits	$	5,902,446	5,902,446	5,902,446	—	—
Certificates of deposit	651,183		653,772	—	653,772	—
Total deposits	$	6,553,629	6,556,218	5,902,446	653,772	—
Borrowings	1,612,745		1,617,023	—	1,617,023	—
Derivative liabilities	6,750		6,750		6,750