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Consolidated Statements Of Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Loans $ 21,291 $ 17,466 $ 41,957 $ 35,262
Mortgage-backed securities 3,325 4,343 6,902 8,932
Other securities 94 157 228 314
Federal Home Loan Bank of New York dividends 297 172 640 382
Deposits in other financial institutions 30 13 63 25
Total interest income 25,037 22,151 49,790 44,915
Interest expense:        
Deposits 2,458 1,254 4,532 2,492
Borrowings 2,294 2,377 4,989 4,788
Total interest expense 4,752 3,631 9,521 7,280
Net interest income 20,285 18,520 40,269 37,635
Provision for/(recovery of) loan losses 72 (146) 272 271
Net interest income after provision for loan losses 20,213 18,666 39,997 37,364
Non-interest income:        
Fees and service charges for customer services 976 1,030 1,901 2,059
Income on bank owned life insurance 941 984 1,882 1,968
(Losses)/gains on securities transactions, net (7) 319 54 443
Other 96 54 273 89
Total non-interest income 2,006 2,387 4,110 4,559
Non-interest expense:        
Compensation and employee benefits 7,684 6,538 15,241 11,773
Occupancy 2,467 2,280 5,081 4,902
Furniture and equipment 369 417 749 836
Data processing 981 996 1,958 1,967
Professional fees 719 680 1,293 1,206
FDIC insurance 397 311 786 620
Other 1,897 1,476 3,706 3,457
Total non-interest expense 14,514 12,698 28,814 24,761
Income before income tax expense 7,705 8,355 15,293 17,162
Income tax expense 3,410 2,915 5,996 6,503
Net income $ 4,295 $ 5,440 $ 9,297 $ 10,659
Net income per common share:        
Basic (usd per share) $ 0.10 $ 0.11 $ 0.22 $ 0.21
Diluted (usd per share) $ 0.10 $ 0.11 $ 0.21 $ 0.20
Unrealized (losses) gains on securities:        
Net unrealized holding (losses) gains on securities $ (5,894) $ 2,759 $ (1,275) $ 6,099
Less: reclassification adjustment for net gains included in net income (included in (losses) gains on securities transactions, net) (43) (144) (43) (199)
Net unrealized (losses) gains (5,937) 2,615 (1,318) 5,900
Reclassification adjustment for OTTI impairment included in net income (included OTTI losses on securities)   0 0 (1,141)
Other comprehensive (loss) income, before tax (5,937) 2,615 (1,318) 4,759
Income tax benefit (expense) related to net unrealized holding (losses) gains on securities 2,359 (1,103) 513 (2,439)
Income tax expense related to reclassification adjustment for gains included in net income 17 58 17 80
Income tax expense related to post retirement benefit adjustment 0 0   458
Other comprehensive (loss) income, net of tax (3,561) 1,570 (788) 2,858
Comprehensive income $ 734 $ 7,010 $ 8,509 $ 13,517