Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

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

	Fair Value Measurements at Reporting Date Using:
(Dollars in thousands)	September 30, 2012		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	$	95,843		95,843		—		—
Mortgage-backed securities		1,227,554		—		1,227,554		—
State and municipal obligations		10,474		—		10,474		—
Corporate obligations		3,001		—		3,001		—
Equity securities		340		340		—		—
	$	1,337,212		96,183		1,241,029		—
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral	$	25,908		—		—		25,908
Foreclosed assets		13,900		—		—		13,900
	$	39,808		—		—		39,808
	Fair Value Measurements at Reporting Date Using:
(Dollars in thousands)	December 31, 2011		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	$	105,558		105,558		—		—
Mortgage-backed securities		1,251,003		—		1,251,003		—
State and municipal obligations		11,614		—		11,614		—
Corporate obligations		7,636		—		7,636		—
Equity securities		308		308		—		—
	$	1,376,119		105,866		1,270,253		—
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral	$	56,620		—		—		56,620
Foreclosed assets		12,802		—		—		12,802
	$	69,422		—		—		69,422

Schedule of Financial Instruments at Carrying and Fair Values

			Fair Value Measurements at September 30, 2012 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	$	107,553		107,553		107,553		—		—
Securities available for sale:
Agency obligations		95,843		95,843		95,843		—		—
Mortgage-backed securities		1,227,554		1,227,554		—		1,227,554		—
State and municipal obligations		10,474		10,474		—		10,474		—
Corporate obligations		3,001		3,001		—		3,001		—
Equity securities		340		340		340		—		—
Total securities available for sale	$	1,337,212		1,337,212		96,183		1,241,029		—
Investment securities held to maturity:
Agency obligations	$	3,423		3,459		3,459		—		—
Mortgage-backed securities		13,440		14,022		—		14,022		—
State and municipal obligations		326,307		343,455		—		343,455		—
Corporate obligations		9,137		9,417		—		9,417		—
Total securities held to maturity	$	352,307		370,353		3,459		366,894		—
FHLB-NY stock		37,971		37,971		37,971		—		—
Loans, net		4,748,577		4,972,872		—		—		4,972,872
Financial liabilities:
Deposits other than certificates of deposits	$	4,366,175		4,366,175		4,366,175		—		—
Certificates of deposit		1,007,502		1,019,706		—		1,019,706		—
		5,373,677		5,385,881		4,366,175		1,019,706		—
Borrowings	$	834,421		869,678		—		869,678		—

			Fair Value Measurements at December 31, 2011 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	$	69,632		69,632		69,632		—		—
Securities available for sale:
Agency obligations		105,558		105,558		105,558		—		—
Mortgage-backed securities		1,251,003		1,251,003		—		1,251,003		—
State and municipal obligations		11,614		11,614		—		11,614		—
Corporate obligations		7,636		7,636		—		7,636		—
Equity securities		308		308		308		—		—
Total securities available for sale	$	1,376,119		1,376,119		105,866		1,270,253		—
Investment securities held to maturity:
Agency obligations	$	3,647		3,683		3,683		—		—
Mortgage-backed securities		22,321		23,180		—		23,180		—
State and municipal obligations		314,108		330,902		—		330,902		—
Corporate obligations		8,242		8,531		—		8,531		—
Total securities held to maturity	$	348,318		366,296		3,683		326,613		—
FHLB-NY stock		38,927		38,927		38,684		—		—
Loans, net		4,579,158		4,804,036		—		—		4,804,036
Financial liabilities:
Deposits other than certificates of deposits	$	4,027,871		4,027,871		4,027,871		—		—
Certificates of deposit		1,128,726		1,143,213		—		1,143,213		—
Total deposits	$	5,156,597		5,171,084		4,027,871		1,143,213
Borrowings	$	920,180		955,037		—		955,037		—