10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March31, 2016

Or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 0-50275

BCB Bancorp, Inc.

(Exact name of registrant as specified in its charter)

New Jersey	26-0065262
(State or other jurisdiction of incorporation or organization)	(IRS Employer I.D. No.)
104-110 Avenue C Bayonne, New Jersey	07002
(Address of principal executive offices)	(Zip Code)

(201) 823-0700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   ☒  Yes    ☐  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    ☒  Yes    ☐  No

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and larger accelerated filer” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	☐	Accelerated Filer	☒
Non-Accelerated Filer	☐	Smaller Reporting Company	☐

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act).    ☐ Yes    ☒ No

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of May 4, 2016, BCB Bancorp, Inc., had 11,221,897  shares of common stock, no par value, outstanding.

BCB BANCORP INC. AND SUBSIDIARIES

INDEX

	Page
PART I. CONSOLIDATED FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
Consolidated Statements of Financial Condition as of March 31, 2016 (unaudited) and December 31, 2015		1
Consolidated Statements of Income for the three months ended March 31, 2016 and March 31, 2015 (unaudited)		2
Consolidated Statements of Comprehensive Income for the three months ended March 31, 2016 and March 31, 2015 (unaudited)		3
Consolidated Statement of Changes in Stockholders’ Equity for the three months ended March 31, 2016 and March 31, 2015 (unaudited)		4
Consolidated Statements of Cash Flows for the three months ended March 31, 2016 and March 31, 2015 (unaudited)		5
Notes to Unaudited Consolidated Financial Statements			6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		37
Item 3. Quantitative and Qualitative Disclosures about Market Risk		41
Item 4. Controls and Procedures		42
PART II. OTHER INFORMATION		43
Item 1. Legal Proceedings		43
Item 1A. Risk Factors		43
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		43
Item 3. Defaults Upon Senior Securities		43
Item 4. Mine Safety Disclosures		43
Item 5. Other Information		43
Item 6. Exhibits		43

PART I. CONSOLIDATED FINANCIAL INFORMATION

ITEM I. CONSOLIDATED FINANCIAL STATEMENTS

BCB BANCORP INC. AND SUBSIDIARIES

Consolidated Statements of Financial Condition

(In  Thousands, Except Share and Per Share Data, Unaudited)

	March 31,		December 31,
	2016		2015
ASSETS
Cash and amounts due from depository institutions	$	10,508	$	11,808
Interest-earning deposits		199,688		120,827
Total cash and cash equivalents		210,196		132,635
Interest-earning time deposits		980		1,238
Securities available for sale		9,639		9,623
Loans held for sale		648		1,983
Loans receivable, net of allowance for loan losses of $18,168 and
$18,042 respectively		1,429,549		1,420,118
Federal Home Loan Bank of New York stock, at cost		11,161		10,711
Premises and equipment, net		15,657		15,727
Accrued interest receivable		5,981		5,595
Other real estate owned		2,021		1,564
Deferred income taxes		9,870		9,881
Other assets		10,446		9,331
Total Assets	$	1,706,148	$	1,618,406
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Non-interest bearing deposits	$	143,621	$	130,920
Interest bearing deposits		1,206,799		1,143,009
Total deposits		1,350,420		1,273,929
Short-term debt		-		-
Long-term debt		210,000		200,000
Subordinated debentures		4,124		4,124
Other liabilities and accrued interest payable		9,293		6,809
Total Liabilities		1,573,837		1,484,862
STOCKHOLDERS' EQUITY
Preferred stock: $0.01 par value, 10,000,000 shares authorized,
issued and outstanding 1,560 shares of series A, B, and C 6% noncumulative perpetual
preferred stock (liquidation value $10,000 per share) at March 31, 2016 and 1,731 at December 31, 2015		-		-
Additional paid-in capital preferred stock		15,464		17,174
Common stock; no par value; 20,000,000 shares authorized, issued 13,751,160 and 13,738,587
at March 31, 2016 and December 31, 2015, respectively, outstanding 11,221,897 shares and
11,209,324 shares, respectively		-		-
Additional paid-in capital common stock		119,821		119,682
Retained earnings		27,614		27,382
Accumulated other comprehensive (loss)		(1,492)		(1,598)
Treasury stock, at cost, 2,529,263 shares at March 31, 2016 and December 31, 2015		(29,096)		(29,096)
Total Stockholders' Equity		132,311		133,544
Total Liabilities and Stockholders' Equity	$	1,706,148	$	1,618,406

See accompanying notes to unaudited consolidated financial statements.

1

BCB BANCORP INC. AND SUBSIDIARIES

Consolidated Statements of Income

(In Thousands, except for per share amounts, Unaudited)

	Three Months Ended March 31,
		2016		2015
Interest income:
Loans, including fees	$	17,493	$	15,367
Investments, taxable		200		146
Other interest-earning assets		138		7
Total interest income		17,831		15,520
Interest expense:
Deposits:
Demand		362		172
Savings and club		89		122
Certificates of deposit		2,034		1,121
		2,485		1,415
Borrowed money		1,648		1,514
Total interest expense		4,133		2,929
Net interest income		13,698		12,591
Provision for loan losses		189		720
Net interest income after provision for loan losses		13,509		11,871
Non-interest income:
Fees and service charges		711		500
Gain on sales of loans		924		676
Other		19		29
Total non-interest income		1,654		1,205
Non-interest expense:
Salaries and employee benefits		6,024		5,225
Occupancy and equipment		1,872		1,791
Data processing and service fees		1,062		1,051
Professional fees		427		102
Director fees		153		179
Regulatory assessments		350		275
Advertising and promotional		363		438
Other real estate owned, net		16		49
Other		1,470		874
Total non-interest expense		11,737		9,984
Income before income tax provision		3,426		3,092
Income tax provision		1,391		1,246
Net Income	$	2,035	$	1,846
Preferred stock dividends		234		202
Net Income available to common stockholders	$	1,801	$	1,644
Net Income per common share-basic and diluted
Basic	$	0.16	$	0.20
Diluted	$	0.16	$	0.20
Weighted average number of common shares outstanding
Basic		11,217		8,400
Diluted		11,219		8,421

See accompanying notes to unaudited consolidated financial statements.

2

BCB BANCORP INC. AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
(In Thousands, Unaudited)

	Three Months Ended March 31,
	2016		2015
Net Income	$	2,035	$	1,846
Other comprehensive income, net of tax:
Unrealized gains on available-for-sale securities:
Unrealized holding gains arising during the period (a)		106		42
Benefit plans (b)		-		(15)
Other comprehensive income		106		27
Comprehensive income	$	2,141	$	1,873

(a) Represents the net change of the unrealized gain on available-for-sale securities. Represents unrealized gains of $179,000 less deferred taxes of $71,000,  respectively, less deferred taxes of $73,000 and $29,000, respectively.

(b) Represents the net change of unrecognized loss included in net periodic pension cost. Represents a gross change of $25,000,  less deferred taxes of $10,000,  for the three months ended March 31, 2015. The Statements of Income line items impacted by these amounts are salaries and employee benefits and income tax provision.

See accompanying notes to unaudited consolidated financial statements.

3

BCB BANCORP INC. AND SUBSIDIARIES

Consolidated Statement of Changes in Stockholders’ Equity

(In Thousands, except share and per share data, Unaudited)

	Preferred Stock		Common Stock		Additional             Paid-In Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Total
Beginning Balance at January 1, 2016	$	-	$	-	$	136,856	$	27,382	$	(29,096)	$	(1,598)	$	133,544
Redemption of Series A Preferred Stock		-		-		(1,710)		-		-		-		(1,710)
Stock-based compensation expense		-		-		18		-		-		-		18
Dividends payable on Series A, B and C 6% noncumulative perpetual preferred stock		-		-		-		(234)		-		-		(234)
Cash dividends on common stock ($0.14 per share declared)		-		-		-		(1,502)		-		-		(1,502)
Dividend Reinvestment Plan		-		-		67		(67)		-		-		-
Stock Purchase Plan		-		-		54		-		-		-		54
Net income		-		-		-		2,035		-		-		2,035
Other comprehensive income		-		-		-		-		-		106		106
Ending Balance at March 31, 2016	$	-	$	-	$	135,285	$	27,614	$	(29,096)	$	(1,492)	$	132,311

	Preferred Stock		Common Stock		Additional             Paid-In Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Total
Beginning Balance at January 1, 2015	$	-	$	-	$	106,711	$	25,983	$	(29,105)	$	(1,337)	$	102,252
Stock-based compensation expense		-		-		17		-		-		-		17
Treasury Stock Adjustment		-		-		-		-		9		-		9
Dividends payable on Series A, B and C 6% noncumulative perpetual preferred stock		-		-		-		(202)		-		-		(202)
Cash dividends on Common Stock ($0.14 per share) declared		-		-		-		(1,115)		-		-		(1,115)
Dividend Reinvestment Plan		-		-		60		(60)		-		-		-
Stock Purchase Plan		-		-		116		-		-		-		116
Net income		-		-		-		1,846		-		-		1,846
Other comprehensive income		-		-		-		-		-		27		27
Ending Balance at March 31, 2015	$	-	$	-	$	106,904	$	26,452	$	(29,096)	$	(1,310)	$	102,950

See accompanying notes to unaudited consolidated financial statements.

4

BCB BANCORP INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(In Thousands, Unaudited)

	Three Months Ended March 31,
	2016		2015
Cash Flows from Operating Activities :
Net Income	$	2,035	$	1,846
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment		564		501
Amortization and accretion, net		(515)		(142)
Provision for loan losses		189		720
Deferred income tax benefit		(62)		(234)
Loans originated for sale		(5,582)		(8,011)
Proceeds from sale of loans originated for sale		7,841		8,408
Gain on sales of loans originated for sale		(924)		(676)
Stock compensation expense		18		17
(Increase) in interest receivable		(386)		(272)
(Increase) decrease in other assets		(1,115)		2,583
Increase in accrued interest payable		59		68
Increase (decrease) in other liabilities		2,425		(272)
Net Cash Provided by Operating Activities		4,547		4,536
Cash flows from investing activities:
Proceeds from calls on securities available for sale		159		229
Proceeds from sales of other real estate owned		-		1,300
Redemption of interest-bearing time deposits		258		-
Net increase in loans receivable		(9,558)		(86,942)
Additions to premises and equipment		(494)		(1,962)
Purchase of Federal Home Loan Bank of New York stock		(450)		(900)
Net Cash Used In Investing Activities		(10,085)		(88,275)
Cash flows from financing activities:
Net increase in deposits		76,491		57,343
Proceeds from long-term debt		10,000		47,000
Net change in short-term debt		-		(23,000)
Purchases/adjustments of treasury stock		-		9
Cash dividend paid on common stock		(1,502)		(1,115)
Cash dividend paid on preferred stock		(234)		(202)
Net proceeds from issuance of common stock		54		116
Net redemption of preferred stock		(1,710)		-
Net Cash Provided by Financing Activities		83,099		80,151
Net Increase (Decrease) In Cash and Cash Equivalents		77,561		(3,588)
Cash and Cash Equivalents-Beginning		132,635		32,123
Cash and Cash Equivalents-Ending	$	210,196	$	28,535
Supplementary Cash Flow Information:
Cash paid during the year for:
Income taxes	$	452	$	(398)
Interest	$	4,074	$	2,861
Non-cash items:
Transfer of loans to other real estate owned	$	457	$	-

5

BCB Bancorp Inc. and Subsidiaries

Notes to Unaudited Consolidated Financial Statements

Note 1 – Basis of Presentation

The accompanying unaudited consolidated financial statements include the accounts of BCB Bancorp, Inc. (the “Company”) and the Company’s wholly owned subsidiaries, BCB Community Bank (the “Bank”), BCB Holding Company Investment Company, BCB New York Asset Management, Inc. and Pamrapo Service Corporation. The Company’s business is conducted principally through the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X and, therefore, do not necessarily include all information that would be included in audited financial statements. The information furnished reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of consolidated financial condition and results of operations. All such adjustments are of a normal recurring nature. These results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2016 or any other future period. The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates.

These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the year ended December 31, 2015, which are included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission.In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred between March 31,2016, and the date these consolidated financial statements were issued.

Recent Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition. The ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 by one year.  The new guidance will be effective for public companies for periods beginning after December 15, 2017 with private companies provided a one-year deferral until periods beginning after December 15, 2018. The ASU permits application of the new revenue recognition guidance to be applied using one of two retrospective application methods. The Company has not yet determined which application method it will use or the potential effects of the new standard on the financial statements, if any. The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which will supersede the current lease requirements in Topic 840. The ASU requires lessees to recognize a right of use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of income. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet. The reporting of lease related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new guidance will be effective for years beginning after December 15, 2018 for public companies and for years beginning after December 15, 2019 for private companies. Once effective, the standard will be applied using a modified retrospective transition method to the beginning of the earliest period presented. The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718).  This ASU was issued as part of FASB’s Simplification Initiative.  The areas for simplification in this Update include income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows for share-based payment transactions.  For public companies, this ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods.  For all other entities, the amendments will be effective for annual periods beginning after December 31, 2017, and interim periods within annual periods beginning after December 15, 2018.  Early adoption is permitted.  The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

6

Note 2 – Reclassification

Certain amounts as of December 31, 2015 and the threemonth period ended March31,  2015 have been reclassified to conform to the current period’s presentation. These changes had no effect on the Company’s results of operations or financial position.

Note 3 – Pension and Other Postretirement Plans

The Company assumed, through the merger with Pamrapo Bancorp, Inc., a non-contributory defined benefit pension plan covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the defined benefit pension plan (“Pension Plan”), was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the “Pension Plan” to the freeze date have been retained. Accordingly, no employees are permitted to commence participation in the Pension Plan and future salary increases and future years of service are not considered when computing an employee’s benefits under the Pension Plan. The Pension Plan is funded in conformity with the funding requirements of applicable government regulations. The Company also acquired through the merger with Pamrapo Bancorp, Inc. a supplemental executive retirement plan (“SERP”) in which certain former employees of Pamrapo Savings Bank are covered. A SERP is an unfunded non-qualified deferred retirement plan. Participants who retire at the age of 65  (the “Normal Retirement Age”), are entitled to an annual retirement benefit equal to 75% of compensation reduced by their retirement plan annual benefits. Participants retiring before the Normal Retirement Age receive the same benefits reduced by a percentage based on years of service to the Company and the number of years prior to the Normal Retirement Age that participants retire.

Periodic pension and SERP cost, which is recorded as part of salaries and employee benefits expense in our Consolidated Statements of Income, is comprised of the following. (In Thousands):

	Three months ended March 31,
		2016		2015
Pension plan:
Interest cost	$	82	$	64
Expected return on plan assets		(131)		(108)
Amortization of unrecognized loss		36		18
Net periodic pension benefit		(13)		(26)
SERP plan:
Interest cost	$	3	$	3
Net periodic postretirement cost	$	3	$	3

7

Note 3 – Pension and Other Postretirement Plans(Continued)

The Company, under the plan approved by its stockholders on April 28, 2011 (“2011 Stock Plan”), authorized the issuance of up to 900,000 shares of common stock of the Company pursuant to grants of stock options. Employees and directors of the Company and the Bank are eligible to participate in the 2011 Stock Plan. All stock options will be granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code.  Only employees are permitted to receive incentive stock options. On December 2, 2015, a grant of 120,000 options and on March 7, 2014, a grant of 110,000 options was declared for certain members of the Board of Directors which vest at a rate of 10% per year, over ten years commencing on the first anniversary of the grant date. The exercise price was recorded as of the close of business on December 2, 2015 and March 7, 2014, respectively. There were 32,500 and 6,000 stock options granted to employees in the fourth quarters of 2015 and 2014, respectively, which vest at a rate of 20% per year.

There was no stock option activity in the three months ended March 31, 2016.

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2015	417,000	$	8.93-15.65	$	10.75
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2016	417,000	$	8.93-15.65	$	10.75

As of March 31, 2016, stock options which were granted and were exercisable totaled 75,700 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 341,300 shares underlying unexercised options outstanding as of March 31,2016 was $846,070 over a weighted average period of 7.79 years.

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2014	289,720	$	8.93-15.65	$	11.18
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2015	289,720	$	8.93-18.41	$	11.18

As of March 31, 2015, stock options which are granted and were exercisable totaled 74,220 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the unvested options outstanding as of March 31, 2015 was $587,244 over a weighted average period of 8.24 years.

8

Note 4 – Net Income per Common Share

Basic net income per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the three months ended March31, 2016, the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. No adjustments to net income were necessary in calculating basic and diluted net income per share. For the three months ended March31,  2016 and 2015 the weighted average number of outstanding options considered to be anti-dilutive were0 and 127,000 respectively.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:

	For the Three Months Ended March 31,
	2016					2015
		Income	Shares		Per Share		Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net income available to common stockholders	$	1,801				$	1,644
Basic earnings per share-
Income available to
Common stockholders	$	1,801	11,217	$	0.16	$	1,644	8,400	$	0.20
Effect of dilutive securities:
Stock options		-	2				-	21
Diluted earnings per share-
Income available to
Common stockholders	$	1,801	11,219	$	0.16	$	1,644	8,421	$	0.20

9

Note 5 – Securities Available for Sale

The following tables present by maturity the amortized cost, gross unrealized gains and losses on, and fair value of, securities available for sale as of March31,  2016 and December 31, 2015:

	March 31, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,401	$	71	$	29	$	3,443
Due after ten years		6,092		125		21		6,196
	$	9,493	$	196	$	50	$	9,639

	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,418	$	13	$	73	$	3,358
Due after ten years		6,238		89		62		6,265
	$	9,656	$	102	$	135	$	9,623

The unrealized losses, categorized by the length of time of continuous loss position, and fair value of related securities available for sale were as follows:

	Less than 12 Months				More than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In Thousands)
March 31, 2016
Residential mortgage-backed securities	$	-	$	-	$	3,747	$	50	$	3,747	$	50
	$	-	$	-	$	3,747	$	50	$	3,747	$	50
December 31, 2015
Residential mortgage-backed securities	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135
	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135

Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) whether the Company  intends to sell the security or more likely than not will be required to sell the security before its anticipated recovery. At March 31, 2016 and December 31, 2015, management performed an assessment for possible OTTI of the Company’s residential mortgage-backed securities on an issue-by-issue basis, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. The extent of individual analysis applied to each security depended on the size of the Company’s investment, as well as management’s perception of the credit risk associated with each security. Based on the results of the assessment, management believes impairment of these residential mortgage-backed securities, at March 31, 2016 and December 31, 2015 to be temporary.

10

Note 6 - Loans Receivable and Allowance for Loan Losses

The following table presents the recorded investment in loans receivable as of March 31, 2016 and December 31, 2015 by segment and class:

	March 31, 2016		December 31, 2015
		(In Thousands)
Originated loans:
Residential one-to-four family	$	131,988	$	117,165
Commercial and multi-family		987,568		982,828
Construction		65,666		64,008
Commercial business(1)		69,370		70,340
Home equity(2)		30,967		31,237
Consumer		1,657		2,365
Sub-total		1,287,216		1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family		64,821		67,587
Commercial and multi-family		72,172		79,308
Construction		-		-
Commercial business(1)		5,012		4,281
Home equity(2)		18,153		18,851
Consumer		207		263
Sub-total		160,365		170,290
Acquired loans with deteriorated credit:
Residential one-to-four family		1,466		1,474
Commercial and multi-family		769		669
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		74		71
Consumer		-		-
Sub-total		2,472		2,381
Total Loans		1,450,053		1,440,614
Less:
Deferred loan fees, net		(2,336)		(2,454)
Allowance for loan losses		(18,168)		(18,042)
		(20,504)		(20,496)
Total Loans, net	$	1,429,549	$	1,420,118
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

11

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

Allowance for Loan Losses

Management reviews the adequacy of the allowance on at least a quarterly basis to ensure that the provision for loan losses has been charged against earnings in an amount necessary to maintain the allowance at a level that is adequate based on management’s assessment of probable estimated losses.  The Company’s methodology for assessing the adequacy of the allowance for loan losses consists of several key elements.  These elements include a general allocated reserve for performing impaired loans, a specific reserve for impaired loans and an unallocated portion.  

The Company consistently applies the following comprehensive methodology.  During the quarterly review of the allowance for loan losses, the Company considers a variety of qualitative factors that include:

· General economic conditions.

· Trends in charge-offs.

· Trends and levels of delinquent loans.

· Trends and levels of non-performing loans, including loans over 90 days delinquent.

· Trends in volume and terms of loans.

· Levels of allowance for specific classified loans.

· Credit concentrations.

The methodology includes the segregation of the loan portfolio into two divisions. Loans that are performing and loans that are impaired. Loans which are performing are evaluated homogeneously by loan class or loan type. The allowance for performing loans is evaluated based on historical loan loss experience, including consideration of peer loss analysis, with an adjustment for qualitative factors referred to above. Impaired loans are loans which are more than 90 days delinquent, troubled debt restructured, or contractual principal and interest collections are not expected to be received. These loans are individually evaluated for loan loss either by current appraisal, or net present value of cash flows, and assigned a specific reserve when it is probable that we will be unable to collect all amounts due (interest and principal) in accordance with the contractual terms of the loan agreement. Management reviews the overall estimate for feasibility and bases the loan loss provision accordingly.

The loan portfolio is segmented into the following loan classes, where the risk level for each class is analyzed when determining the allowance for loan losses:

Residential one-to-four family real estate loans. These loans involve certain risks such as interest rate risk and risk of non-repayment. Adjustable-rate residential family real estate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying property may be adversely affected by higher interest rates. Repayment risk may be affected by a number of factors including, but not necessarily limited to, job loss, divorce, illness and personal bankruptcy of the borrower.

Commercial and multi-family real estate loans. These loans entail significant additional risks as compared with residential real estate loans. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for commercial real estate as well as economic conditions generally.

Construction loans. These loans are generally considered to be high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of the general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Company than construction loans to individuals on their personal residence.

Commercial business loans. These types of loans which include lines of credit, are generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business. Commercial business loans are primarily secured by inventories and other business assets. In most cases, any repossessed collateral for a defaulted commercial business loans will not provide an adequate source of repayment of the outstanding loan balance.

Home Equity Loans. Home equity lending entails certain risks such as interest rate risk and risk of non-repayment. The marketability of the underlying property may be adversely affected by higher interest rates, decreasing the collateral securing the loan. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy of the borrower. Home equity line of credit lending entails securing an equity interest in the borrower’s home. In many cases, the Company’s position in these loans is as a junior lien holder to another institution’s superior lien. This type of lending is often priced on an adjustable rate basis with the rate set at or above a predefined index. Adjustable-rate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default.

Other consumer loans. Other consumer loans generally have more credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. Consumer loans generally have shorter terms and higher interest rates than other lending. In addition, consumer lending collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be adversely effected by job loss, divorce, illness and personal bankruptcy. In most cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan.

Acquired loans. For acquired loans that have been added to portfolio via our purchase of banks are recorded at fair value with no carryover of a related allowance for loan losses. Determining the fair value of the loans involves estimating the amount and timing of principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest.

We have acquired loans in two separate acquisitions.(Pamrapo Savings Bank in 2010 “Pamrapo” and Allegiance Community Bank in 2011 “Allegiance”) For each acquisition, we reviewed all acquired loans and considered the following factors as indicators that such acquired loan had evidence of deterioration in credit quality and was therefore in the scope of Accounting Standards Codification (“ASC”) 310-30:

· Loans that were 90 days or more past due,

· Loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well defined weakness that jeopardizes liquidation of the loan,

· Loans that were classified as nonaccrual by the acquired bank at the time of acquisition, or,

12

· Loans that had been previously modified in a troubled debt restructuring.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

Any acquired loans that were not individually in the scope of ASC 310-30 because they did not meet the criteria above were accounted for under ASC 310-20 (Nonrefundable fees and other costs.)  Charge-offs of the principal amount on acquired loans accounted for under ASC 310-20 would be charged off against the allowance for loan losses.   

Acquired loans accounted for under ASC 310-30

We performed a fair market valuation on each of the loans and each loan was recorded at a discount which includes the establishment of an associated “Credit Mark” reducing the carrying value of that loan to its fair value at the time of acquisition. We determined that at least part of the discount on the acquired loans was attributable to credit quality by reference to the valuation model used to estimate the fair value of the loans. The valuation model incorporated lifetime expected credit losses into the loans’ fair valuation in consideration of factors such as evidence of credit deterioration since origination and the amounts of contractually required principal and interest that we did not expect to collect as of the acquisition date.The excess of expected cash flows from acquired loans over the estimated fair value of acquired loans at acquisition is referred to as the accretable discount and is recognized into interest income over the remaining life of the acquired loans using the interest method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. The nonaccretable discount represents estimated future credit losses expected to be incurred over the life of the acquired loans.

          Subsequent decreases to the expected cash flows require us to evaluate the need for an addition to the allowance for loan losses. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the nonaccretable discount which we then reclassify as accretable discount that is recognized into interest income over the remaining life of the loan using the interest method. Our evaluation of the amount of future cash flows that we expect to collect takes into account actual credit performance of the acquired loans to date and our best estimates for the expected lifetime credit performance of the loans using currently available information. Charge-offs of the principal amount on acquired loans would be first applied to the nonaccretable discount portion of the fair value adjustment. To the extent that we experience a deterioration in credit quality in our expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on our estimate of future credit losses over the remaining life of the loans.

          In accordance with ASC 310-30, recognition of income is dependent on having a reasonable expectation about the timing and amount of cash flows expected to be collected.  We perform such an evaluation on a quarterly basis on our acquired loans individually accounted for under ASC 310-30.Cash flows for acquired loans individually accounted for under ASC 310-30 are estimated on a quarterly basis.  Based on this evaluation, a determination is made as to whether or not we have a reasonable expectation about the timing and amount of cash flows.  Such an expectation includes cash flows from normal customer repayment, foreclosure or other collection efforts. To the extent that we cannot reasonably estimate cash flows, interest income recognition is discontinued. 

The Company also maintains an unallocated allowance.  The unallocated allowance is used to cover any factors or conditions which may cause a potential loan loss but are not specifically identifiable.  It is prudent to maintain an unallocated portion of the allowance because no matter how detailed an analysis of potential loan losses is performed, these estimates lack some element of precision.  Management must make estimates using assumptions and information that is often subjective and changing rapidly. In addition, as an integral part of their examination process, the Federal Deposit Insurance Corporation and the New Jersey Department of Banking and Insurance will periodically review the allowance for loan losses and may require us to adjust the allowance based on their analysis of information available to it at the time of its examination.

Classified Assets.  The Company’s policies provide for a classification system for problem assets.  Under this classification system, problem assets are classified as “substandard,” “doubtful,” “loss” or “special mention.”  An asset is considered substandard if it is inadequately protected by its current net worth and paying capacity of the borrower or of the collateral pledged, if any. Substandard assets include those characterized by the “distinct possibility” that “some loss” will be sustained if the deficiencies are not corrected.  Assets classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weakness present makes “collection or liquidation in full” on the basis of currently existing facts, conditions, and values, “highly questionable and improbable.”  Assets classified as loss are those considered “uncollectible” and of such little value that their continuance as assets without the establishment of a specific loss reserve is not warranted, and the loan, or a portion thereof, is charged-off.  Assets may be designated special mention because of potential weaknesses that do not currently warrant classification in one of the aforementioned categories.

When the Company classifies problem loans, it may establish general allowances for loan losses in an amount deemed prudent by management.  General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular problem assets. A portion of general loss allowances established to cover possible losses related to assets classified as substandard or doubtful may be included in determining our regulatory capital. Specific valuation allowances for loan losses generally do not qualify as regulatory capital. As of March 31, 2016, we had $39.1 million in loans classified as substandard,  $20.4 million in loans classified as special mention and no loans classified as doubtful or loss. The loans classified as substandard represent primarily commercial loans secured either by residential real estate, commercial real estate or heavy equipment.  The loans that have been classified substandard were classified as such primarily because either updated financial information has not been provided timely, or the collateral underlying the loan was in the process of being revalued.

The current methodology for this calculation is determined with the Company’s specific Historical Loss Percentage (“HLP”) for each loan class, using two years of prior Company data (or eight quarters). The relative weights of prior quarters are decayed logarithmically and are further adjusted based on the trend of the historical loss percentage at the time. Also, instead of applying consistent percentages to each of the credit risk grades, the current methodology applies a higher factor to classified loans based on a delinquency risk trend and concentration risk trend by using the past due and non-accrual loans as a percentage of the specific loan category.

13

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March31, 2016. The table also details the amount of total loans receivable, loans receivablethat are evaluated individually  and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016. (In Thousands):

	Residential			Commercial & Multi-family	Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for loan losses:
Originated Loans:	$	2,107	$	11,643	$	722	$	1,749	$	369	$	879	$	168	$	17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Beginning Balance, December, 31, 2015		2,424		11,674		722		1,753		422		879		168		18,042
Charge-offs:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		67		-		-		3		3		-		-		73
Acquired loans with deteriorated credit:		-				-		-		-		-		-		-
Sub-total:		67		-		-		3		3		-		-		73
Recoveries:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		-		-		-		-		10		-		-		10
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		-		-		-		10		-		-		10
Provisions:
Originated Loans:		131		(68)		111		(87)		(27)		46		96		202
Acquired loans recorded at fair value:		5		(7)		-		3		(13)		-		-		(12)
Acquired loans with deteriorated credit:		-		(1)		-		-		-		-		-		(1)
Sub-total:		136		(76)		111		(84)		(40)		46		96		189
Totals:
Originated Loans:		2,238		11,575		833		1,662		342		925		264		17,839
Acquired loans recorded at fair value:		208		10		-		-		44		-		-		262
Acquired loans with deteriorated credit:		47		13		-		4		3		-		-		67
Ending Balance, March 31, 2016	$	2,493	$	11,598	$	833	$	1,666	$	389	$	925	$	264	$	18,168
Loans Receivable:
Ending Balance Originated Loans:	$	131,988	$	987,568	$	65,666	$	69,370	$	30,967	$	1,657	$	-	$	1,287,216
Ending Balance Acquired loans recorded at fair value:		64,821		72,172		-		5,012		18,153		207		-		160,365
Ending Balance Acquired loans with deteriorated credit:		1,466		769		-		163		74		-		-		2,472
Total Gross Loans:	$	198,275	$	1,060,509	$	65,666	$	74,545	$	49,194	$	1,864	$	-	$	1,450,053
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,052	$	14,630	$	2,984	$	4,103	$	1,379	$	1,263	$	-	$	33,411
Ending Balance Acquired loans recorded at fair value:		9,428		5,713		-		-		1,361		-		-		16,502
Ending Balance Acquired loans with deteriorated credit:		1,466		530		-		163		74		-		-		2,233
Ending Balance Loans individually evaluated
for impairment:	$	19,946	$	20,873	$	2,984	$	4,266	$	2,814	$	1,263	$	-	$	52,146
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	122,936	$	972,938	$	62,682	$	65,267	$	29,588	$	394	$	-	$	1,253,805
Ending Balance Acquired loans recorded at fair value:		55,393		66,459		-		5,012		16,792		207		-		143,863
Ending Balance Acquired loans with deteriorated credit:		-		239		-		-		-		-		-		239
Ending Balance Loans collectively evaluated
for impairment:	$	178,329	$	1,039,636	$	62,682	$	70,279	$	46,380	$	601	$	-	$	1,397,907
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

14

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the year ended December 31, 2015. The table also details the amount of total loans receivablethat are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of December 31, 2015.  (In Thousands):

____

		Residential		Commercial & Multi-family		Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-		10		-		80		-		-		-		90
Acquired loans recorded at fair value:		67		-		-		-		106		-		-		173
Acquired loans with deteriorated credit:		-		-		-		199		-		-		-		199
Sub-total:		67		10		-		279		106		-		-		462
Recoveries:
Originated Loans:		-		70		-		-		-		-		-		70
Acquired loans recorded at fair value:		-		-		-		-		3		-		-		3
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		70		-		-		3		-		-		73
Provisions:
Originated Loans:		(257)		1,555		(358)		953		36		430		47		2,406
Acquired loans recorded at fair value:		(80)		(85)		-		-		95		-		-		(70)
Acquired loans with deteriorated credit:		(17)		(9)		-		(30)		-		-		-		(56)
Sub-total:		(354)		1,461		(358)		923		131		430		47		2,280
Totals:
Originated Loans:		2,107		11,643		722		1,749		369		879		168		17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Ending Balance, December 31, 2015	$	2,424	$	11,674	$	722	$	1,753	$	422	$	879	$	168	$	18,042
Loans Receivables:
Ending Balance Originated Loans:	$	117,165	$	982,828	$	64,008	$	70,340	$	31,237	$	2,365	$	-	$	1,267,943
Ending Balance Acquired Loans:		67,587		79,308		-		4,281		18,851		263		-		170,290
Ending Balance Acquired loans with deteriorated credit:		1,474		669		-		167		71		-		-		2,381
Total Gross Loans:	$	186,226	$	1,062,805	$	64,008	$	74,788	$	50,159	$	2,628	$	-	$	1,440,614
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,120	$	14,681	$	-	$	4,203	$	1,456	$	1,463	$	-	$	30,923
Ending Balance Acquired Loans:		9,885		6,775		-		-		1,363		-		-		18,023
Ending Balance Acquired loans with deteriorated credit:		1,474		426		-		167		71		-		-		2,138
Ending Balance Loans individually evaluated
for impairment:	$	20,479	$	21,882	$	-	$	4,370	$	2,890	$	1,463	$	-	$	51,084
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	108,045	$	968,147	$	64,008	$	66,137	$	29,781	$	902	$	-	$	1,237,020
Ending Balance Acquired Loans:		57,702		72,533		-		4,281		17,488		263		-		152,267
Ending Balance Acquired loans with deteriorated credit:		-		243		-		-		-		-		-		243
Ending Balance Loans collectively evaluated
for impairment:	$	165,747	$	1,040,923	$	64,008	$	70,418	$	47,269	$	1,165	$	-	$	1,389,530

____

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

15

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2015. The table also details the amount of total loans receivablethat are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016 (In Thousands):

	Residential			Commercial & Multi-family	Construction		Business (1)		Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-	-	10		-		22	-	-	-	-	-	-	-	32
Acquired loans recorded at fair value:		4	-	-		-		-	-	-	-	-	-	-	-	4
Acquired loans with deteriorated credit:		-	-	-		-		172	-	-	-	-	-	-	-	172
Sub-total:		4		10		-		194		-		-		-		208
Recoveries:
Originated Loans:		-		64		-		-		-		-		-		64
Acquired loans recorded at fair value:		-		-		-		-		1		-		-		1
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		64		-		-		1		-		-		65
Provisions:
Originated Loans:		(54)		305		(24)		388		(17)		180		47		825
Acquired loans recorded at fair value:		(77)		39		-		-		(13)		-		-		(51)
Acquired loans with deteriorated credit:		(4)		-		-		(50)		-		-		-		(54)
Sub-total:		(135)		344		(24)		338		(30)		180		47		720
Totals:
Originated Loans:		2,310		10,387		1,056		1,242		316		629		168		16,108
Acquired loans recorded at fair value:		336		141		-		-		46		-		-		523
Acquired loans with deteriorated credit:		60		23		-		11		3		-		-		97
Ending Balance, March 31, 2015	$	2,706	$	10,551	$	1,056	$	1,253	$	365	$	629	$	168	$	16,728
Loans Receivable:
Ending Balance Originated Loans:	$	133,862	$	804,160	$	79,498	$	58,791	$	31,556	$	2,570	$	-	$	1,110,437
Ending Balance Acquired loans recorded at fair value:		78,933		92,569		-		6,222		21,961		629		-		200,314
Ending Balance Acquired loans with deteriorated credit:		1,588		1,126		-		194		80		-		-		2,988
Total Gross Loans:	$	214,383	$	897,855	$	79,498	$	65,207	$	53,597	$	3,199	$	-	$	1,313,739
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	10,731	$	9,971	$	-	$	4,987	$	1,093	$	1,670	$	-	$	28,452
Ending Balance Acquired loans recorded at fair value:		9,536		6,981		-		-		1,196		-		-		17,713
Ending Balance Acquired loans with deteriorated credit:		1,588		874		-		194		80		-		-		2,736
Ending Balance Loans individually evaluated
for impairment:	$	21,855	$	17,826	$	-	$	5,181	$	2,369	$	1,670	$	-	$	48,901
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	123,131	$	794,189	$	79,498	$	53,804	$	30,463	$	900	$	-	$	1,081,985
Ending Balance Acquired loans recorded at fair value:		69,397		85,588		-		6,222		20,765		629		-		182,601
Ending Balance Acquired loans with deteriorated credit:		-		252		-		-		-		-		-		252
Ending Balance Loans collectively evaluated
for impairment:	$	192,528	$	880,029	$	79,498	$	60,026	$	51,228	$	1,529	$	-	$	1,264,838
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

16

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The table below sets forth the amounts and types of non-accrual loans in the Company’s loan portfolio as of March 31, 2016 andDecember 31, 2015. Loans are placed on non-accrual status when they become more than 90 days delinquent, or when the collection of principal and/or interest become doubtful. As of March 31, 2016 and December 31, 2015, total non-accrual loans differed from the amount of total loans past due greater than 90 days due to troubled debt restructuring of loans which are maintained on non-accrual status for a minimum of six months and until the borrower has demonstrated its ability to satisfy the terms of the restructured loan.   

		As of March 31, 2016		As of December 31, 2015
		(In Thousands)		(In Thousands)
Non-Accruing Loans:
Originated loans:
Residential one-to-four family	$	2,869	$	2,603
Commercial and multi-family		9,703		9,782
Construction		2,984		-
Commercial business(1)		726		718
Home equity(2)		655		777
Consumer		-		-
Sub-total:	$	16,937	$	13,880
Acquired loans recorded at fair value:
Residential one-to-four family	$	5,211	$	5,592
Commercial and multi-family		855		3,025
Construction		-		-
Commercial business(1)		-		-
Home equity(2)		671		665
Consumer		-		-
Sub-total:	$	6,737	$	9,282
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-
Commercial and multi-family		-		-
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		121		118
Consumer		-		-
Sub-total:	$	284	$	285
Total	$	23,958	$	23,447

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

17

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
With no related allowance recorded:
Residential one-to-four family	$	3,283	$	20	$	2,404	$	10
Commercial and Multi-family		10,336		70		7,179		44
Construction		1,492		41		-		-
Commercial business(1)		2,108		3		3,021		43
Home equity(2)		1,204		9		542		5
Consumer		-		-		-		-
Sub-total:	$	18,423	$	143	$	13,146	$	102
Acquired loans recorded at fair value
With no related allowance recorded:
Residential one-to-four family	$	6,731	$	51	$	4,572	$	10
Commercial and Multi-family		4,318		12		4,914		50
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		765		3		726		4
Consumer		-		-		-		-
Sub-total	$	11,814	$	66	$	10,212	$	64
Acquired loans with deteriorated credit
With no related allowance recorded:
Residential one-to-four family	$	1,470	$	-	$	1,502	$	22
Commercial and Multi-family		478		-		876		14
Construction		-		-		-		-
Commercial business(1)		-		-		97		2
Home equity(2)		73		1		81		-
Consumer		-		-		-		-
Sub-total:	$	2,021	$	1	$	2,556	$	38
Total Impaired Loans
With no related allowance recorded:	$	32,258	$	210	$	25,914	$	204

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

18

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the average recorded investment and interest income recognized on impaired loans with allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
with an allowance recorded:
Residential one-to-four family	$	5,803	$	16	$	8,984	$	85
Commercial and Multi-family		4,320		54		2,568		-
Construction		-		-		-		-
Commercial business(1)		2,046		9		1,941		22
Home equity(2)		214		1		548		7
Consumer		1,363		-		1,761		-
Sub-total:	$	13,746	$	80	$	15,802	$	114
Acquired loans recorded at fair value
with an allowance recorded:
Residential one-to-four family	$	2,926	$	25	$	5,088	$	49
Commercial and Multi-family		1,927		1		1,766		22
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		598		6		455		5
Consumer		-		-		-		-
Sub-total	$	5,451	$	32	$	7,309	$	76
Acquired loans with deteriorated credit
with an allowance recorded:
Residential one-to-four family	$	-	$	-	$	90	$	1
Commercial and Multi-family		-		-		-		-
Construction		-		-		-		-
Commercial business(1)		165		1		185		-
Home equity(2)		-		-		-		-
Consumer		-		-		-		-
Sub-total:	$	165	$	1	$	275	$	1
Total Impaired Loans
with an allowance recorded:	$	19,362	$	113	$	23,386	$	191

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

19

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment and unpaid principal balanceswhere there is no related allowance on impaired loans by portfolio class at

March 31, 2016 and December 31, 2015.(In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with no related allowance recorded:
Residential one-to-four family	$	3,430	$	3,720	$	-	$	3,136	$	3,199	$	-
Commercial and multi-family		9,962		10,102		-		10,709		10,934		-
Construction		2,984		2,984		-		-		-		-
Commercial business(1)		2,092		3,559		-		2,123		3,183		-
Home equity(2)		1,137		1,192		-		1,270		1,326		-
Consumer		-		-		-		-		-		-
Sub-total:	$	19,605	$	21,557	$	-	$	17,238	$	18,642	$	-
Acquired loans recorded at fair
value with no related allowance
recorded:
Residential one-to-four family	$	5,816	$	6,159	$	-	$	7,646	$	8,082	$	-
Commercial and Multi-family		4,252		4,321		-		4,383		4,483		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		645		806		-		884		1,061		-
Consumer		-		-		-		-		-		-
Sub-total:	$	10,713	$	11,286	$	-	$	12,913	$	13,626	$	-
Acquired loans with deteriorated
credit with no related allowance
recorded:
Residential one-to-four family	$	1,466	$	2,093	$	-	$	1,474	$	2,101	$	-
Commercial and Multi-family		530		563		-		426		574		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		74		140		-		71		135		-
Consumer		-		-		-		-		-		-
Sub-total:	$	2,070	$	2,796	$	-	$	1,971	$	2,810	$	-
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

20

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment, unpaid principal balance, and the related allowance on impaired loans by portfolio class at March 31, 2016 and December 31, 2015. (In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with an allowance recorded:
Residential one-to-four family	$	5,622	$	5,654	$	536	$	5,984	$	5,993	$	594
Commercial and Multi-family		4,668		4,738		1,111		3,972		3,972		1,069
Construction		-		-		-		-		-		-
Commercial business(1)		2,011		2,201		834		2,080		2,445		841
Home equity(2)		242		247		8		186		189		3
Consumer		1,263		1,263		922		1,463		1,463		876
Sub-total:	$	13,806	$	14,103	$	3,411	$	13,685	$	14,062	$	3,383
Acquired loans recorded at fair
value with an allowance
recorded:
Residential one-to-four family	$	3,612	$	3,860	$	242	$	2,239	$	2,402	$	219
Commercial and Multi-family		1,461		1,463		66		2,392		2,496		85
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		716		766		42		479		518		36
Consumer		-		-		-		-		-		-
Sub-total	$	5,789	$	6,089	$	350	$	5,110	$	5,416	$	340
Acquired loans with deteriorated
credit with an allowance
recorded:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	-	$	-
Commercial and Multi-family		-		-		-		-		-		-
Construction		-		-		-		-		-		-
Commercial business(1)		163		368		-		167		368		-
Home equity(2)		-		-		-		-		-		-
Consumer		-		-		-		-		-		-
Sub-total:	$	163	$	368	$	-	$	167	$	368	$	-
Total Impaired Loans
with an allowance recorded:	$	19,758	$	20,560	$	3,761	$	18,962	$	19,846	$	3,723
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-
Total Impaired Loans:	$	52,146	$	56,199	$	3,761	$	51,084	$	54,924	$	3,723

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

21

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the total troubled debt restructured loans at March 31, 2016, excluding the purchase impairment mark on the acquired loans with deteriorated credit.(Dollars In Thousands):

	Accrual			Non-accrual			Total
March 31, 2016	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	7	$	1,833	2	$	868	9	$	2,701
Commercial and multi-family	4		3,137	14		5,997	18		9,134
Construction	-		-	-		-	-		0
Commercial business(1)	2		1,005	1		460	3		1,465
Home equity(2)	3		538	1		56	4		594
Consumer	-		-	-		-	-		0
Sub-total:	16	$	6,513	18	$	7,381	34	$	13,894
Acquired loans recorded at fair value:
Residential one-to-four family	17	$	3,952	12	$	2,963	29	$	6,915
Commercial and Multi-family	13		4,885	1		582	14		5,467
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	-		-	-		0
Home equity(2)	5		508	1		220	6		728
Consumer	-		-	-		-	-		0
Sub-total:	35	$	9,345	14	$	3,765	49	$	13,110
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,093	-	$	-	5	$	2,093
Commercial and Multi-family	1		563	-		-	1		563
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	1		163	1		163
Home equity(2)	-		-	1		121	1		121
Consumer	-		-	-		-	-		0
Sub-total:	6	$	2,656	2	$	284	8	$	2,940
Total	57	$	18,514	34	$	11,430	91	$	29,944

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

22

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the total troubled debt restructured loans at December 31, 2015, excluding the purchase impairment mark on the acquired loans with deteriorated credit. (Dollars In Thousands):

	Accrual			Non-accrual			Total
December 31, 2015	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	6	$	1,845	1	$	824	7	$	2,669
Commercial and multi-family	4		3,270	9		4,297	13		7,567
Construction	-		-	-		-	0		0
Commercial business(1)	1		778	2		705	3		1,483
Home equity(2)	2		491	3		157	5		648
Consumer	-		-	-		-	0		0
Sub-total:	13	$	6,384	15	$	5,983	28	$	12,367
Acquired loans recorded at fair value:
Residential one-to-four family	16	$	3,604	13	$	3,402	29	$	7,006
Commercial and Multi-family	13		4,863	1		582	14		5,445
Construction	-		-	-		-	0		0
Commercial business(1)	-		-	-		-	0		0
Home equity(2)	5		512	1		220	6		732
Consumer	-		-	-		-	0		0
Sub-total:	34	$	8,979	15	$	4,204	49	$	13,183
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,101	-	$	-	5	$	2,101
Commercial and Multi-family	2		574	-		-	2		574
Construction	-		-	-		-	-		-
Commercial business(1)	-		-	1		167	1		167
Home equity(2)	-		-	1		118	1		118
Consumer	-		-	-		-	-		-
Sub-total:	7	$	2,675	2	$	285	9	$	2,960
Total	54	$	18,038	32	$	10,472	86	$	28,510

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

23

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

A troubled debt restructuring (“TDR”) is a loan that has been modified whereby the Company has agreed to make certain concessions to a borrower to meet the needs of both the borrower and the Company to maximize the ultimate recovery of a loan. A  TDR occurs when a borrower is experiencing, or is expected to experience, financial difficulties and the loan is modified using a modification that would otherwise not be granted to the borrower. The types of concessions granted are generally included, but not limited to interest rate reductions, limitations on the accrued interest charged, term extensions, and deferment of principal.

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2016.  (Dollars In Thousands):

Three Months Ended March 31, 2016			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	1	$	71	$	71
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	1	$	71	$	71
Acquired loans recorded at fair value:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		228		228
Consumer	-		-		-
Sub-total:	1	$	228	$	228
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	2	$	299	$	299

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

24

The loans included above are considered TDRs as a result of the Company implementing one or more of the following concessions: granting a material extension of time, issuing a forbearance agreement, adjusting the interest rate to a below market rate, accepting interest only for a period of time or a change in amortization period. All TDRs were considered impaired and therefore were individually evaluated for impairment in the calculation of the allowance for loan losses. Prior to their classification as TDRs, certain of these loans had been collectively evaluated for impairment in the calculation of the allowance for loan losses.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2016. (Dollars In Thousands):

Three Months Ended March 31, 2016
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	1		61
Consumer	-		-
Sub-total:	1	$	61
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	1,075
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	1075
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	0	$	0
Total	2	$	1,136

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

25

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	-	$	-	$	-
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	2	$	465	$	479
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		223		223
Consumer	-		-		-
Sub-total:	3	$	688	$	702
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	3	$	688	$	702

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

26

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	222
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	222
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Total	1	$	222

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

27

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the delinquency status of total loans receivable as of March 31, 2016. (In Thousands):

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	1,965	$	2,568	$	1,872	$	6,405	$	125,583	$	131,988	$	-
Commercial and multi-family		24,764		3,078		6,791		34,633		952,935		987,568		1,095
Construction		333		-		2,984		3,317		62,349		65,666		-
Commercial business(1)		667		199		653		1,519		67,851		69,370		-
Home equity(2)		388		56		239		683		30,284		30,967		-
Consumer		7		-		-		7		1,650		1,657		-
Sub-total:	$	28,124	$	5,901	$	12,539	$	46,564	$	1,240,652	$	1,287,216	$	1,095
Acquired loans recorded at fair value:
Residential one-to-four family	$	2,636	$	603	$	3,005	$	6,244	$	58,577		64,821	$	-
Commercial and multi-family		2,684		163		786		3,633		68,539		72,172		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		49		-		-		49		4,963		5,012		-
Home equity(2)		402		343		319		1,064		17,089		18,153		-
Consumer		-		-		-		-		207		207		-
Sub-total:	$	5,771	$	1,109	$	4,110	$	10,990	$	149,375	$	160,365	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,466		1,466	$	-
Commercial and multi-family		-		-		-		-		769		769		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		163		163		-		163		-
Home equity(2)		-		-		-		-		74		74		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	-	$	-	$	163	$	163	$	2,309	$	2,472	$	-
Total	$	33,895	$	7,010	$	16,812	$	57,717	$	1,392,336	$	1,450,053	$	1,095

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

28

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the delinquency status of total loans receivable at December 31, 2015. (In Thousands):

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	3,495	$	786	$	1,577	$	5,858	$	111,307	$	117,165	$	-
Commercial and multi-family		12,491		3,362		6,467		22,320		960,508		982,828		578
Construction		4,677		80		-		4,757		59,251		64,008		-
Commercial business(1)		909		-		684		1,593		68,747		70,340		-
Home equity(2)		517		333		485		1,335		29,902		31,237		-
Consumer		-		-		-		-		2,365		2,365		-
Sub-total:	$	22,089	$	4,561	$	9,213	$	35,863	$	1,232,080	$	1,267,943	$	578
Acquired loans recorded at fair value:
Residential one-to-four family	$	3,340	$	311	$	3,512	$	7,163	$	60,424		67,587	$	-
Commercial and multi-family		1,913		1,313		1,285		4,511		74,797		79,308		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		418		-		-		418		3,863		4,281		-
Home equity(2)		727		-		331		1,058		17,793		18,851		-
Consumer		12		-		-		12		251		263		-
Sub-total:	$	6,410	$	1,624	$	5,128	$	13,162	$	157,128	$	170,290	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,474	$	1,474	$	-
Commercial and multi-family		244		-		8		252		417		669		8
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		167		167		-		167		-
Home equity(2)		-		-		-		-		71		71		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	244	$	-	$	175	$	419	$	1,962	$	2,381	$	8
Total	$	28,743	$	6,185	$	14,516	$	49,444	$	1,391,170	$	1,440,614	$	586

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

29

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of March 31, 2016. (In Thousands):

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	121,699	$	6,278	$	4,011	$	-	$	-	$	131,988
Commercial and multi-family		968,829		4,655		14,084		-		-		987,568
Construction		61,807		875		2,984		-		-		65,666
Commercial business(1)		63,671		2,110		3,589		-		-		69,370
Home equity(2)		29,452		757		758		-		-		30,967
Consumer		492		28		1,137		-		-		1,657
Sub-total:	$	1,245,950	$	14,703	$	26,563	$	-	$	-	$	1,287,216
Acquired loans recorded at fair value:
Residential one-to-four family	$	55,732	$	2,824	$	6,265	$	-	$			64,821
Commercial and multi-family		66,591		1,875		3,706		-		-		72,172
Construction		-		-		-		-		-		-
Commercial business(1)		5,012		-		-		-		-		5,012
Home equity(2)		16,735		159		1,259		-		-		18,153
Consumer		207		-		-		-		-		207
Sub-total:	$	144,277	$	4,858	$	11,230	$	-	$	-	$	160,365
Residential one-to-four family	$	147	$	277	$	1,042	$	-	$	-		1,466
Commercial and multi-family		239		530		-		-		-		769
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		163		-		-		163
Home equity(2)		-		-		74		-		-		74
Consumer		-		-		-		-		-		-
Sub-total:	$	386	$	807	$	1,279	$	-	$	-	$	2,472
Total Gross Loans	$	1,390,613	$	20,368	$	39,072	$	-	$	-	$	1,450,053

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

30

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2015. (In Thousands):

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	108,259	$	4,857	$	4,049	$	-	$	-	$	117,165
Commercial and multi-family		966,229		1,868		14,731		-		-		982,828
Construction		63,292		716		-		-		-		64,008
Commercial business(1)		64,645		2,018		3,677		-		-		70,340
Home equity(2)		29,694		714		829		-		-		31,237
Consumer		1,198		30		1,137		-		-		2,365
Sub-total:	$	1,233,317	$	10,203	$	24,423	$	-	$	-	$	1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family	$	58,362	$	2,574	$	6,651	$	-	$	-		67,587
Commercial and multi-family		72,770		1,780		4,758		-		-		79,308
Construction		-		-		-		-		-		-
Commercial business(1)		4,281		-		-		-		-		4,281
Home equity(2)		17,571		382		898		-		-		18,851
Consumer		263		-		-		-		-		263
Sub-total:	$	153,247	$	4,736	$	12,307	$	-	$	-	$	170,290
Acquired loans with deteriorated credit:
Residential one-to-four family	$	147	$	279	$	1,048	$	-	$	-		1,474
Commercial and multi-family		137		532		-		-		-		669
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		167		-		-		167
Home equity(2)		-		-		71		-		-		71
Consumer		-		-		-		-		-		-
Sub-total:	$	284	$	811	$	1,286	$	-	$	-	$	2,381
Total Gross Loans	$	1,386,848	$	15,750	$	38,016	$	-	$	-	$	1,440,614

________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

31

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the unpaid principal balance and the related recorded investment of acquired loans included in our Consolidated Statements of Financial Condition. (In Thousands):

	March 31,		December 31,
	2016		2015
Unpaid principal balance	$	170,655	$	183,046
Recorded investment		162,837		172,671

The following table presents changes in the accretable discount on loans acquired for the threemonths ended March 31, 2016 and 2015.  (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	53,612	$	70,522
Accretion		(3,928)		(3,671)
Net Reclassification from Non-Accretable Difference		195		83
Balance, End of Period	$	49,879	$	66,934

The following table presents changes in the non-accretable yield on loans acquired for the three months ended March 31, 2016 and 2015. (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	3,041	$	3,773
Loans Sold		-		-
Net Reclassification to Accretable Difference		(195)		(83)
Balance, End of Period	$	2,846	$	3,690

32

Note 7 – Fair Values of Financial Instruments

Guidance on fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or no market activity).

An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The only assets or liabilities that the Company measured at fair value on a recurring basis were as follows. (In Thousands):

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016:
Securities available for sale — Residential Mortgage Backed Securities	$	9,639	$	-	$	9,639	$	-
As of December 31, 2015:
Securities available for sale — Residential mortgage-backed securities	$	9,623	$	-	$	9,623	$	-

The Company’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers of assets or liabilities into or out of Level 1, Level 2, or Level 3 of the fair value hierarchy during the three months ended March 31, 2016 and 2015.

The only assets or liabilities that the Company measured at fair value on a nonrecurring basis were as follows. (In Thousands):

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016
Impaired Loans	$	15,997	$	-	$	-	$	15,997
Other real estate owned	$	2,021	$	-	$	-	$	2,021
As of December 31, 2015:
Impaired Loans	$	15,239	$	-	$	-	$	15,239
Other real estate owned	$	1,564	$	-	$	-	$	1,564

33

Note 7 – Fair Values of Financial Instruments (Continued)

The following tables present additional quantitative information as of March 31, 2016 and December 31, 2015 about assets measured at fair value on a nonrecurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value. (Dollars in thousands):

Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
March 31, 2016:
Impaired Loans	$	15,997	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	2,021	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
December 31, 2015:
Impaired Loans	$	15,239	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	1,564	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.  The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

(3) Includes qualitative adjustments by management and estimated liquidation expenses.

The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments as of March 31, 2016 and December 31, 2015.

Cash and Cash Equivalents and Interest-Earning Time Deposits (Carried at Cost)

The carrying amounts reported in the consolidated statements of financial condition for cash and short-term instruments approximate those assets’ fair values.

Securities

The fair value of securities available for sale (carried at fair value) are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.

Loans Held for Sale (Carried at Lower of Cost or Fair Value)

The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for specific attributes of that loan. Loans held for sale are carried at their cost as of March 31, 2016 and December 31, 2015.

Loans Receivable (Carried at Cost)

The fair value of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values.

34

Note 7 – Fair Values of Financial Instruments (Continued)

Impaired Loans (Generally Carried at Fair Value)

A loan is impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or as a practical expedient, at the loans observable market price or the fair value of the collateral if the loan is collateral dependent. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value at March 31, 2016 and December 31, 2015 consisted of the loan balances of $19.8 million and $19.0 million, net of a valuation allowance of $3.80 million and $3.79 million, respectively.

Real Estate Owned (Generally Carried at Fair Value)

Real Estate Owned is generally carried at fair value, when the carrying value is written down to fair value, which is determined based upon independent third-party appraisals of the properties, or based upon the expected proceeds from a pending sale. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.

FHLB of New York Stock (Carried at Cost)

The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities.

Interest Receivable and Payable (Carried at Cost)

The carrying amount of interest receivable and interest payable approximates its fair value.

Deposits (Carried at Cost)

The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits.

Long-Term Debt (Carried at Cost)

Fair values of long-term debt are estimated using discounted cash flow analysis, based on quoted prices for new long-term debt with similar credit risk characteristics, terms and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party.

Off-Balance Sheet Financial Instruments

Fair values for the Company’s off-balance sheet financial instruments (lending commitments and unused lines of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these commitments was deemed immaterial and is not presented in the accompanying table.

35

Note 7 – Fair Values of Financial Instruments (Continued)

The carrying values and estimated fair values of financial instruments were as follows as of March 31, 2016 and December 31, 2015:

		As of March 31, 2016
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	210,196	$	210,196	$	210,196	$		$
Interest-earning time deposits		980		980		980
Securities available for sale		9,493		9,639				9,639
Loans held for sale		648		667				667
Loans receivable, net		1,429,549		1,464,202						1,464,202
FHLB of New York stock, at cost		11,161		11,161				11,161
Accrued interest receivable		5,981		5,981				5,981
Financial liabilities:
Deposits		1,350,420		1,352,216		717,421		634,795
Borrowings		210,000		214,059				214,059
Subordinated debentures		4,124		4,204				4,204
Accrued interest payable		1,113		1,113				1,113

		As of December 31, 2015
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	132,635	$	132,635	$	132,635	$	-	$	-
Interest-earning time deposits		1,238		1,238		1,238		-		-
Securities available for sale		9,623		9,623		-		9,623		-
Securities held to maturity		-		-		-		-		-
Loans held for sale		1,983		2,004		-		2,004		-
Loans receivable, net		1,420,118		1,443,739		-		-		1,443,739
FHLB of New York stock, at cost		10,711		10,711		-		10,711		-
Accrued interest receivable		5,595		5,595		-		5,595		-
Financial liabilities:
Deposits		1,273,929		1,270,267		653,763		616,504		-
Borrowings		200,000		202,948		-		202,948		-
Subordinated debentures		4,124		4,185		-		4,185		-
Accrued interest payable		1,053		1,053		-		1,053		-

36

ITEM 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This report on Form 10-Q contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, or the PSLRA. Such forward-looking statements, in addition to historical information, involve risk and uncertainties, and are based on the beliefs, assumptions and expectations of our management team. Words such as “expects,” “believes,” “should,” “plans,” “anticipates,” “will,” “potential,” “could,” “intend,” “may,” “outlook,” “predict,” “project,” “would,” “estimated,” “assumes,” “likely,” and variation of such similar expressions are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possible materially, from those that we anticipated in our forward-looking statements and future results could differ materially from historical performance.

Factors that could cause future results to vary from current management expectations as reflected in our forward looking statements include, but are not limited to:

· unfavorable economic conditions in the United States generally and particularly in our primary market area;

· the effects of declines in housing markets and real estate values that may adversely impact the collateral underlying our loans;

· increase in unemployment levels and slowdowns in economic growth;

· our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs;

· the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios;

· the credit risk associated with our loan portfolio;

· changes in the quality and composition of the Bank’s loan and investment portfolios;

· changes in our ability to access cost-effective funding;

· deposit flows;

· legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates;

· monetary and fiscal policies of the federal government;

· changes in tax policies, rates and regulations of federal, state and local tax authorities;

· inflation;

· demands for our loan products;

· demand for financial services;

· competition;

· changes in the securities or secondary mortgage markets;

· changes in management’s business strategies;

· our ability to enter new markets successfully;

· our ability to successfully integrate acquired businesses;

· changes in consumer spending;

· our ability to retain key employees;

· the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, regulatory risk

· expanded regulatory requirements as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which could adversely affect operating results; and

· other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our annual Report on Form 10-K and our other periodic reports that we file with the SEC.

You should not place undue reliance on these forward-looking statements, which reflect our expectations only as of the date of this Form 10-Q. We do not assume any obligation to revise forward-looking statements except as may be required by law.

Overview

BCB Bancorp, Inc. is a New Jersey corporation, and is the holding company parent of BCB Community Bank, or the Bank. The Company has not engaged in any significant business activity other than owning all of the outstanding common stock of BCB Community Bank. Our executive office is located at 104-110 Avenue C, Bayonne, New Jersey 07002. At March 31, 2016 we had approximately $1.706 billion in consolidated assets, $1.350 billion in deposits and $132.3 million in consolidated stockholders’ equity.

BCB Community Bank opened for business on November 1, 2000 as Bayonne Community Bank, a New Jersey chartered commercial bank. The Bank changed its name from Bayonne Community Bank to BCB Community Bank in April 2007. At March 31, 2016, the Bank operated through sixteen branches in Bayonne, Colonia, Jersey City, Hoboken, Fairfield, Monroe Township, South Orange, and Woodbridge, New Jersey, through executive offices located at 104-110 Avenue C and an administrative office located at 591-595 AvenueC, Bayonne, New Jersey 07002. The Bank’s newest branch, located at 1500 Forest Avenue in Staten Island, NY, opened for business on April 15th, 2016. The Bank’s deposit accounts are insured by the FDIC, and the Bank is a member of the Federal Home Loan Bank System.

We are a community-oriented financial institution. Our business is to offer FDIC-insured deposit products and to invest funds held in deposit accounts at the Bank, together with funds generated from operations, in loans and investment securities. We offer our customers:

· loans, including commercial and multi-family real estate loans, one- to four-family mortgage loans, home equity loans, construction loans, consumer loans and commercial business loans.  In recent years the primary growth in our loan portfolio has been in loans secured by commercial real estate and multi-family properties;

· FDIC-insured deposit products, including savings and club accounts, interest and non-interest bearing demand accounts, money market accounts, certificates of deposit and individual retirement accounts; and

· retail and commercial banking services including wire transfers, money orders, safe deposit boxes, a night depository, debit cards, online banking, mobile banking, gift cards, fraud detection (positive pay), and automated teller services.

37

Critical Accounting Policies

The preparation of the Consolidated Financial Statements in accordance with U.S. GAAP requires us to make estimates and assumptions affecting the reported amounts of assets, liabilities, revenue and expenses. We regularly evaluate these estimates and assumptions including those used to determine the allowance for loan losses,investment in reverse mortgages, deferred taxes, fair value measurements, goodwill and other intangible assets. We base our estimates on historical experience and various other factors and assumptions that are believed to be reasonable under the circumstances. These form the basis for making judgments on the carrying value of assets and liabilities that are not readily apparent from other sources.  Although our current estimates contemplate current economic conditions and how we expect them to change in the future, for the remainder of 2016, it is reasonably possible that actual conditions may be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Actual results may differ from these estimates under different assumptions or conditions.

See further discussion of these critical accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2015 and Note 1, Basis of Presentation, to the unaudited Consolidated Financial Statements. There has been no change in critical accounting policies since the Company’s last reported 10-K.

Financial Condition

Total assets increased by $87.7 million, or 5.4%, to $1.706 billion at March 31, 2016 from $1.618 billion at December 31, 2015. The increase in total assets occurred primarily as a result of an increase in cash and cash equivalents of $77.6 million and an increase in loans receivable, net of $9.4 million. Management is concentrating on maintaining adequate liquidity in anticipation of funding loans in the loan pipeline as well as seeking opportunities to purchase securities in the secondary market that provide competitive returns in a risk-mitigated environment. It is our intention to grow our assets at a measured pace consistent with our capital levels and as business opportunities permit. Organic growth should occur consistent with our strategic plan under which we anticipate opening additional branch offices in 2016.

Total cash and cash equivalents increased by $77.6 million, or 58.5%, to $210.2 million at March 31, 2016 from $132.6 million at December 31, 2015 due to the Company’s strategy to increase our deposit base.

Loans receivable, net increased by $9.4 million, or 0.7%, to $1.429 billion at March 31, 2016 from $1.420 billion at December 31, 2015. The increase resulted primarily from an increase of $12.7 million in residential real estate loans, partially offset by a decrease of $965,000 in home equity loans and home equity lines of credit, a decrease of $638,000 in real estate mortgages, primarily consisting of commercial and multi-family loans, construction and commercial participation loans with other financial institutions, and a $243,000 decrease in business loans and commercial lines of credit. As of March 31, 2016, the allowance for loan losses was $18.2 million, or 75.6%, of non-performing loans and 1.25% of gross loans.

Deposit liabilities increased by $76.5 million, or 6.0%, to $1.350 billion at March 31, 2016 from $1.274 billion at December 31, 2015. The increase resulted primarily from increases of $42.9 million in NOW deposits, $18.5 million in certificates of deposit, $13.3 million in non-interest-bearing deposits, $2.2 million in savings and club deposits, partly offset by a decrease of $500,000 in money market interest-bearing deposits. In addition to organic deposit growth resulting from the opening of four additional branches over the last 18 months, the Company has also added listing service certificates of deposit and brokered certificates of deposit to fund loan growth, which totaled $44.2 million and $34.3 million, respectively, at March 31, 2016.

Long-term borrowed money increased by $10.0 million, or 5.0%, to $210.0 million at March 31, 2016 from $200.0 million at December 31, 2015. The purpose of these borrowings reflected the use of long-term Federal Home Loan Bank advances to augment deposits as the Company’s funding source for originating loans and investing in GSE investment securities. The increase in Federal Home Loan Bank advances resulted from the Company’s utilization of medium-term, fixed rate FHLB advances as part of our interest rate risk management strategy. The weighted average interest rate of borrowings was 3.10% at March 31, 2016.

Stockholders’ equity decreased by $1.2 million, or 0.9%, to $132.3 million at March 31, 2016 from $133.5 million at December 31, 2015. The decrease in stockholders’ equity was primarily attributable to the redemption of $1.7 million in Series A preferred stock, cash dividends paid during the three-month period totaling $1.5 million on outstanding shares of common stock and $260,000 on outstanding preferred stock, partly offset by net income of $2.0 million. The Company accrued a dividend payable for the first quarter on our outstanding preferred stock of $234,000 which will be paid in the second quarter. As of March 31, 2016, the Bank’s Total capital to risk-weighted assets, Tier 1 capital to risk-weighted assets, Common Equity Tier 1 capital to risk-weighted assets, and Tier 1 capital to average assets were 11.76%, 10.50%, 10.50% and 8.16%, respectively.

Results of Operations comparison for the Three Months ended March 31, 2016 and March 31, 2015

Net income was $2.0 million for the three months ended March 31, 2016, compared with $1.8 million for the three months ended March 31, 2015. The increase in net income was primarily related to increases in total interest income, non-interest income and a decrease in the provision for loan loss, partly offset by increases in non-interest expense and the provision for income tax.

Net interest income increased by $1.1 million, or 8.8%, to $13.7 million for the three months ended March 31, 2016 from $12.6 million for the three months ended March 31, 2015. The increase in net interest income resulted primarily from an increase in the average balance of interest-earning assets of $320.0 million, or 24.5%, to $1.626 billion for the three months ended March 31, 2016 from $1.306 billion for the three months ended March 31, 2015, partly offset by a decrease in the average yield on interest-earning assets of 37 basis points to 4.39% for the three months ended March 31, 2016 from 4.75% for the three months ended March 31, 2015.

The average balance of interest-bearing liabilities increased by $280.3 million, or 25.6% to $1.376 billion for the three months ended March 31, 2016 from $1.096 billion for the three months ended March 31, 2015, and the average cost of interest-bearing liabilities increased by 13 basis points to 1.20% for the three months ended March 31, 2016 from 1.07% for the three months ended March 31, 2015. Net interest margin was 3.37% for the three-month period ended March 31, 2016 and 3.86% for the three-month period ended March 31, 2015. The decline in net interest margin was the result of competitive pressures in attracting new loans and deposits, as evidenced by a decline in the average yield on loans and an increase in the average cost of deposits.

Interest income on loans receivable increased by $2.1 million, or 13.83%, to $17.5 million for the three months ended March 31, 2016 from $15.4 million for the three months ended March 31, 2015. The increase was primarily attributable to an increase in the average balance of loans receivable of $182.0 million, or 14.4%, to $1.443 billion for the three months ended March 31, 2016 from $1.261 billion for the three months ended March 31, 2015, partially offset by a decrease in the average yield on loans receivable to 4.85% for the three months ended March 31, 2016 from 4.87% for the three months ended March 31, 2015. The increase in the average balance of loans receivable was in accordance with the Company’s growth strategy, which included the hiring of additional loan production and business development personnel

38

and the opening of three additional branches over the last 18 months. The decrease in average yield on loans reflected the competitive price environment prevalent in the Company’s primary market area on loan facilities, as well as the repricing downward of certain variable rate loans.

Interest income on securities increased by $54,000, or 37.0%, to $200,000 for the three months ended March 31, 2016 from $146,000 for the three months ended March 31, 2015. This increase was primarily due to an increase in the average balance of securities of $1.4 million, or 7.6%, to $20.5 million for the three months ended March 31, 2016 from $19.1 million for the three months ended March 31, 2015, and by an increase in the average yield of securities to 3.90% for the three months ended March 31, 2016 from 3.06% for the three months ended March 31, 2015.

Interest income on other interest-earning assets increased by $131,000 to $138,000 for the three months ended March 31, 2016 from $7,000 for the three months ended March 31, 2015. This increase was primarily due to an increase in the average balance of other interest-earning assets of $136.1 million to $162.2 million for the three months ended March 31, 2016 from $26.1 million for the three months ended March 31, 2015.

Total interest expense increased by $1.2 million, or 41.1%, to $4.1 million for the three months ended March 31, 2016 from $2.9 million for the three months ended March 31, 2015. The increase resulted primarily from an increase in the average balance of deposits of $250.6 million, or 27.3%, to $1.167 billion for the three months ended March 31, 2016 from $916.6 million for the three months ended March 31, 2015, an increase in the average balance of borrowings of $29.7 million, or 16.6%, to $208.8 million for the three months ended March 31, 2016 from $179.1 million and for the three months ended March 31, 2015, as well as an increase in the average cost of interest-bearing liabilities of 13 basis points to 1.20% for the three months ended March 31, 2016 from 1.07% for the three months ended March 31, 2015. The increase in the average rate on interest-bearing liabilities was due to competitive forces in attracting new deposits and a change in the mix of funding sources and terms, including the Bank’s 15-month CD promotion, including higher cost listing service certificates of deposit and brokered certificates of deposit, to support aggressive loan growth. The increase in Federal Home Loan Bank advances resulted from the Company’s utilization of medium-term, fixed rate FHLB advances as part of our interest rate risk management strategy.

The provision for loan losses totaled $189,000 and $720,000 for the three months ended March 31, 2016 and 2015, respectively. The provision for loan losses is established based upon management’s review of the Company’s loans and consideration of a variety of factors, including but not limited to: (1) the risk characteristics of the loan portfolio; (2) current economic conditions; (3) actual losses previously experienced; (4) the dynamic activity and fluctuating balance of loans receivable; and (5) the existing level of reserves for loan losses that are probable and estimable. During the three months ended March 31, 2016, the Company experienced $63,000 in net charge-offs compared to $143,000 in net charge-offs for the three months ended March 31, 2015. The Bank had non-performing loans totaling $24.0 million, or 1.65%, of gross loans at March 31, 2016 and $23.4 million, or 1.65%, of gross loans at December 31, 2015. The allowance for loan losses was $18.2 million, or 1.25%, of gross loans at March 31, 2016, $18.0 million, or 1.25%, of gross loans at December 31, 2015 and $16.7 million, or 1.27%, of gross loans at March 31, 2015. The amount of the allowance is based on estimates and the ultimate losses may vary from such estimates. Management assesses the allowance for loan losses on a quarterly basis and makes provisions for loan losses as necessary in order to maintain the adequacy of the allowance. While management uses available information to recognize losses on loans, future loan loss provisions may be necessary based on changes in the aforementioned criteria. In addition various regulatory agencies, as an integral part of their examination process, periodically review the allowance for loan losses and may require the Company to recognize additional provisions based on their judgment of information available to them at the time of their examination. The increase in the allowance for loan loss reflected growth in the loan portfolio. Management believes that the allowance for loan losses was adequate at March 31, 2016 and December 31, 2015.

Total non-interest income increased by $449,000 to $1.7 million for the three months ended March 31, 2016 from $1.2 million for the three months ended March 31, 2015. Non-interest income reflected an increase of $248,000 in gain on sale of loans for the three months ended March 31, 2016 compared with the three months ended March 31, 2015, and an increase of $211,000 in fees and service charges for the three months ended March 31, 2016 compared with the three months ended March 31, 2015.

Total non-interest expense increased by $1.7 million, or 17.6%, to $11.7 million for the three months ended March 31, 2016 from $10.0 million for the three months ended March 31, 2015. Salaries and employee benefits expense increased by $799,000, or 15.3%, to $6.0 million for the three months ended March 31, 2016 from $5.2 million for the three months ended March 31, 2015. This increase in both salaries and employee benefits was mainly attributable to an increase of 31 full-time equivalent employees, or 9.6%, to 354 at March 31, 2016 from 323 at March 31, 2015, which relates to the addition of business development and loan administration employees and the opening of four new branch offices in the last 18 months. Occupancy and equipment expense increased by $81,000, or 4.5%, to $1.9 million for the three months ended March 31, 2016 from $1.8 million for the three months ended March 31, 2015. The increase in occupancy and equipment expense also related primarily to the opening of the new branch offices. Professional fees increased by $325,000, or 319.0%, to $427,000 for the three months ended March 31, 2016 from $102,000 for the three months ended March 31, 2015, which primarily related to the reversal of a provision for $300,000 in legal fees in the prior year period upon resolution of a litigation settlement. Regulatory assessments increased by $75,000, or 27.3%, to $350,000 for the three months ended March 31, 2016 from $275,000 for the three months ended March 31, 2015. Advertising expense decreased by $75,000, or 17.1%, to $363,000 for the three months ended March 31, 2016 from $438,000 for the three months ended March 31, 2015. Other real estate owned (OREO) expenses decreased by $33,000, or 67.4%, to $16,000 for the three months ended March 31, 2016 from $49,000 for the three months ended March 31, 2015. Other non-interest expense increased by $596,000, or 68.2%, to $1.5 million for the three months ended March 31, 2016 from $874,000 for the three months ended March 31, 2015. Other non-interest expense consisted of loan expense, business development, office supplies, correspondent bank fees, telephone and communication and other fees and expenses, which all experienced increases as part of the Company’s growth strategy.

Income tax provision increased by $145,000, or 11.6%, to $1.4 million for the three months ended March 31, 2016 from $1.2 million for the three months ended March 31, 2015. The increase in income tax provision was a result of higher taxable income during the three-month period ended March 31, 2016 as compared with the three months ended March 31, 2015. The consolidated effective tax rate for the three months ended March 31, 2016 was 40.6% compared to 40.3% for the three months ended March 31, 2015.

Liquidity and Capital Resources

Liquidity

The overall objective of our liquidity management practices is to ensure the availability of sufficient funds to meet financial commitments and to take advantage of lending and investment opportunities.  The Company manages liquidity in order to meet deposit withdrawals on demand or at contractual maturity, to repay borrowings and other obligations as they mature, and to fund loan and investment portfolio opportunities as they arise.

The Company’s primary sources of funds to satisfy its objectives are net growth in deposits (primarily retail), principal and interest payments on loans and investment securities, proceeds from the sale of originated loans and FHLB and other borrowings. The scheduled amortization of loans is a predictable source of funds. Deposit flows and mortgage prepayments are greatly influenced by general interest rates, economic conditions and competition. The Company has other sources of

39

liquidity if a need for additional funds arises, including unsecured overnight lines of credit and other collateralized borrowings from the FHLB and other correspondent banks.

At March 31, 2016 and December 31, 2015, the Company had no overnight borrowings outstanding with the FHLB. The Company utilizes overnight borrowings from time to time to fund short-term liquidity needs. The Company had total borrowings of $214.1 million at March 31, 2016 as compared to $204.1 million at December 31, 2015.

The Company had the ability at March 31, 2016 to obtain additional funding from the FHLB of up to $17.7 million, utilizing unencumbered loan collateral. The Company expects to have sufficient funds available to meet current loan commitments in the normal course of business through typical sources of liquidity. Time deposits scheduled to mature in one year or less totaled $484.9million at March 31, 2016. Based upon historical experience data, management estimates that a significant portion of such deposits will remain with the Company.

Capital Resources

At March 31, 2016, and December 31, 2015, BCB Community Bank exceeded all of its regulatory capital requirements to which it was subject. The following table sets forth the regulatory capital ratios for BCB Community Bank as well as regulatory capital requirements for the periods presented.

		Actual				For Capital Adequacy Purposes				For Well Capitalized Under Prompt Corrective Action
As of March 31, 2016:
Total capital (to risk-weighted assets)	$	152,291	11.76	%	$	103,639	8.00	%	$	129,549	10.00	%
Tier 1 capital (to risk-weighted assets)		136,073	10.50			77,729	6.00			103,639	8.00
Common Equity Tier 1 Capital (to risk-weighted assets)		136,073	10.50			58,297	4.50			84,207	6.50
Tier 1 capital (to average assets)		136,073	8.16			66,729	4.00			83,411	5.00
As of December 31, 2015:
Total capital (to risk-weighted assets)	$	153,806	12.06	%	$	102,011	8.00	%	$	127,514	10.00	%
Tier 1 capital (to risk-weighted assets)		137,841	10.81			76,508	6.50			102,011	8.00
Common Equity Tier 1 Capital (to risk-weighted assets)		137,841	10.81			57,381	4.50			82,884	6.50
Tier 1 capital (to average assets)		137,841	8.61			64,048	4.00			80,060	5.00

In July 2013, the FDIC and the other federal bank regulatory agencies issued a final rule that revised their leverage and risk-based capital requirements and the method for calculating risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act.  Among other things, the new rule established a new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), increased the minimum Tier 1 capital to risk-based assets requirement (from 4% to 6% of risk-weighted assets) and assigned a higher risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property.  The final rule also requires unrealized gains and losses on certain available-for-sale securities holdings and defined benefit plan obligations to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised.  The Bank exercised the opt-out election. The rule limits a banking organization's capital distributions and certain discretionary bonus payments if the banking organization does not hold a "capital conservation buffer" consisting of 2.5% of common equity Tier 1 capital to risk-weighted assets in addition to the amount necessary to meet its minimum risk-based capital requirements. 

The final rule became effective for the Bank and the Company on January 1, 2015.  The capital conservation buffer requirement is being phased in beginning January 1, 2016 at 0.625% of risk-weighted assets and will increase each subsequent year by an additional 0.625% until reaching its final level of 2.5% on January 1, 2019. The Bank and the Company currently comply with the minimum capital requirements set forth in the final rule.

At March 31, 2016 and December 31, 2015, the Bank’s capital ratios exceeded the quantitative capital ratios required for an institution to be considered “well-capitalized.”

40

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Management of Market Risk

General. The majority of our assets and liabilities are monetary in nature. Consequently, one of our most significant forms of market risk is interest rate risk. Our assets, consisting primarily of mortgage loans, have longer maturities than our liabilities, consisting primarily of deposits. As a result, a principal part of our business strategy is to manage interest rate risk and reduce the exposure of our net interest income to changes in market interest rates. Accordingly, our Board of Directors has established an Asset/Liability Committee which is responsible for evaluating the interest rate risk inherent in our assets and liabilities, for determining the level of risk that is appropriate given our business strategy, operating environment, capital, liquidity and performance objectives, and for managing this risk consistent with the guidelines approved by the Board of Directors. Senior management monitors the level of interest rate risk on a regular basis and the Asset/Liability Committee, which consists of senior management and outside directors operating under a policy adopted by the Board of Directors, meets quarterly to review our asset/liability policies and interest rate risk position.

The following table presents the Company’s net portfolio value (“NPV”). These calculations were based upon assumptions believed to be fundamentally sound, although they may vary from assumptions utilized by other financial institutions. The information set forth below is based on data that included all financial instruments as of March 31, 2016. Assumptions have been made by the Company relating to interest rates, loan prepayment rates, core deposit duration, and the market values of certain assets and liabilities under the various interest rate scenarios. Actual maturity dates were used for fixed rate loans and certificate accounts. Investment securities were scheduled at either the maturity date or the next scheduled call date based upon management’s judgment of whether the particular security would be called in the current interest rate environment and under assumed interest rate scenarios. Variable rate loans were scheduled as of their next scheduled interest rate repricing date. Additional assumptions made in the preparation of the NPV table include prepayment rates on loans and mortgage-backed securities, core deposits without stated maturity dates were scheduled with an assumed term of 48 months, and money market and non-interest bearing accounts were scheduled with an assumed term of 24 months. The NPV at “PAR” represents the difference between the Company’s estimated value of assets and estimated value of liabilities assuming no change in interest rates. The NPV for a decrease of 200 to 300 basis points has been excluded since it would not be meaningful, in the interest rate environment as of March 31, 2016. The following sets forth the Company’s NPV as of that date.

							NPV as a % of Assets
Change in Calculation	Net Portfolio Value		$ Change from PAR		% Change from PAR		NPV Ratio		Change
+300bp	$	145,902	$	(54,026)	(27.02)	%	8.96	%	(239)	bps
+200bp		163,184		(36,743)	(18.38)		9.76		(158)	bps
+100bp		182,139		(17,789)	(8.90)		10.62		(73)	bps
PAR		199,927		-	0.00		11.35		0	bps
-100bp		235,149		35,222	17.62		12.93		159	bps

bp – basis points

The table above indicates that as ofMarch 31, 2016, in the event of a 100 basis point increase in interest rates, we would experience an8.90%  decrease in NPV.

Certain shortcomings are inherent in the methodology used in the above interest rate risk measurement. Modeling changes in NPV require making certain assumptions that may or may not reflect the manner in which actual yields and costs respond to changes in market interest rates. In this regard, the NPV table presented assumes that the composition of our interest-sensitive assets and liabilities existing at the beginning of a period remains constant over the period being measured and assumes that a particular change in interest rates is reflected uniformly across the yield curve regardless of the duration or repricing of specific assets and liabilities. Accordingly, although the NPV table provides an indication of our interest rate risk exposure at a particular point in time, such measurements are not intended to and do not provide a precise forecast of the effect of changes in market interest rates on our net interest income, and will differ from actual results.

41

ITEM 4.

Controls and Procedures

Under the supervision and with the participation of the Company’s management, including the Chief Executive Officer and Chief Financial Officer the Company has evaluated the effectiveness of the design and operation of its disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this quarterly report. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered by this quarterly report, the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms.

There has been no change in the Company’s internal control over financial reporting during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

42

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are involved, from time to time, as plaintiff or defendant in various legal actions arising in the normal course of business. Other than as set forth below, as of March 31, 2016, we were not involved in any material legal proceedings the outcome of which, if determined in a manner adverse to the Company, would have a material adverse effect on our financial condition or results of operations.

The Company, as the successor to Pamrapo Bancorp, Inc., and in its own corporate capacity, was a named defendant in a shareholder class action lawsuit, Kube v. Pamrapo Bancorp, Inc., et al., filed in the Superior Court of New Jersey, Hudson County, Chancery Division, General Equity (the "Action”).

On September 21, 2015, the court entered an Order and Final Judgment (“Judgment”), whereby the Stipulation of Settlement ("Stipulation") agreed to by the plaintiff class, the Company and the remaining defendants was approved.

Pursuant to the Stipulation, the plaintiff class's counsel reserved the right to seek an award of counsel fees and litigation expenses (“Fees Motion”). The maximum amount which may be awarded as a result of the Fees Motion is $1,000,000.00. The plaintiff class’s counsel has made a Fee Motion to the court seeking a final award of counsel fees and litigation expenses of approximately $1,000,000.00. The Company and the remaining defendants have vigorously opposed that motion. It is anticipated that the plaintiff class’s counsel will submit a reply to the opposition filed by the Company and the remaining defendants. The court has not scheduled a hearing date for the Fee Motion. 

The Company and the other defendants in the Action ("Plaintiffs") have brought a lawsuit ("Carrier Suit") against Progressive Insurance Company ("Progressive"), the Directors' and Officers' Liability insurance carrier for Pamrapo Bancorp, Inc., at the time of its merger with the Company on July 6, 2010, and Colonial American Insurance Company ("Colonial"), the Directors' and Officers' Liability insurance carrier for the Company at the time of the merger.  The Carrier Suit seeks, among other claims, indemnification, payment of and/or contribution toward the above settlement, payment of and/or contribution toward the above award of interim attorney's fees to the plaintiff class's counsel, payment of and/or contribution toward any future award of attorney's fees to the plaintiff class's counsel, and reimbursement of the attorney's fees and defense costs incurred by the Plaintiffs in defending the Action and pursuing the Carrier Suit.  

Progressive made a motion to dismiss the Carrier Suit in 2014. The Plaintiffs opposed that motion. That motion was administratively terminated by Order of the court, dated December 3, 2014.  By Order of the court, dated December 3, 2014, the Plaintiffs' motion to file an Amended Complaint was granted.  

On or about January 6, 2015, Progressive again made a motion to dismiss the Carrier Suit. The Plaintiffs opposed that motion. That motion was denied by oral decision on October 22, 2015, and by written Order, dated January 20, 2016.   

A Mediation session ("Mediation") was held on March 11, 2015, among the parties. Following the Mediation, the Plaintiffs and Colonial agreed to settle the Plaintiffs’ claims against Colonial for $1,750,000.00. A Settlement Agreement and Release, dated June 30, 2015, was entered into by the Plaintiffs and Colonial. The Plaintiffs received the settlement amount of $1,750,000.00 from Colonial on July 9, 2015.   

The Plaintiffs and Progressive did not settle their respective claims at the Mediation. The Carrier Suit continues with respect to these parties. Initial discovery has been exchanged between the parties. The court has directed that the parties engage in “expedited discovery.” Discovery is to be completed by June 30, 2016. The parties will be allowed to make cross-motions for summary judgment upon the conclusion of said discovery. The court has encouraged the parties to pursue another mediation session.

The Plaintiffs are vigorously pursuing full recovery.

ITEM 1.A. RISK FACTORS

There have been no changes to the risk factors set forth under Item 1.A Risk Factors as set forth in the Company’s Form 10-K for the year ended December 31, 2015.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

On June 28, 2012, the Company announced a seventh stock repurchase plan to repurchase 5% or 440,000 shares of the Company’s common stock. On July 17, 2013, the Company announced an eighth stock repurchase plan to repurchase 5% or 400,000 shares of the Company’s common stock. There were no stock purchases for the three months ended March 31, 2016.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFTEY DISCLOSURES

Not applicable

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibit 11.0Computation of Earnings per Share.

Exhibit 31.1 and 31.2  Officers’ Certification filed pursuant to section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32            Officers’ Certification filed pursuant to section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 101.INS        XBRL Instance Document

Exhibit 101.SCH       XBRL Taxonomy Extension Schema

Exhibit 101.CAL       XBRL Taxonomy Extension Calculation LinkBase

Exhibit 101.DEF       XBRL Taxonomy Extension Definition LinkBase

Exhibit 101.LAB       XBRL Taxonomy Extension Label LinkBase

Exhibit 101.PRE       XBRL Taxonomy Extension Presentation LinkBase

____

43

Signatures

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

	BCB BANCORP, INC.
Date:May 6, 2016	By:	/s/ Thomas Coughlin
		Thomas Coughlin
		President and Chief Executive Officer (Principal Executive Officer)
Date: May 6, 2016	By:	/s/ Thomas P. Keating
		Thomas P. Keating Senior Vice President and Chief Financial Officer
		(Principal Accounting and Financial Officer)

44

EX-11

Exhibit 11.0

COMPUTATION OF EARNING PER SHARE

(In Thousands, except for per share data)

		Three months ended March 31, 2016		Three months ended March 31, 2015
Income available to common stockholders	$	1,801	$	1,644
Weighted average common shares outstanding		11,217		8,400
Basic earnings per share	$	0.16	$	0.20
Income for diluted earnings per share	$	1,801	$	1,644
Total weighted average common shares and equivalents outstanding for diluted computation (1)		11,219		8,421
Diluted earnings per share	$	0.16	$	0.20

__________

(1) All related to outstanding stock options.

EX-31.1

Exhibit 31.1

Certification of Chief Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Thomas Coughlin, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of BCB Bancorp, Inc.;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and;

d) disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 6, 2016	/s/ Thomas Coughlin
	Thomas Coughlin
	President and Chief Executive Officer (Principal Executive Officer)

EX-31.2

Exhibit 31.2

Certification of Principal Accounting Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Thomas P. Keating, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of BCB Bancorp, Inc.;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and;

d) disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 6, 2016	/s/ Thomas P. Keating
	Thomas P. Keating Senior Vice President and Chief Financial Officer
	(Principal Accounting and Financial Officer)

EX-32

Exhibit 32

Certification pursuant to

18 U.S.C. Section 1350,

as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

Thomas Coughlin, President and Chief Executive Officer and Thomas P. Keating, Senior Vice President and Chief Financial Officer of BCB Bancorp, Inc. (the “Company”) each certify in his capacity as an officer of the Company that he has reviewed the quarterly report of the Company on Form 10-Q for the quarter ended March 31, 2016 and that to the best of his knowledge:

(1) the report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

(2) the information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the Company.

The purpose of this statement is solely to comply with Title 18, Chapter 63, Section 1350 of the United States Code, as amended by Section 906 of the Sarbanes-Oxley Act of 2002.

Date: May 6, 2016	/s/ Thomas Coughlin
	President and Chief Executive Officer (Principal Executive Officer)
Date: May 6, 2016	/s/ Thomas P. Keating
	Senior Vice President and Chief Financial Officer (Principal Accounting and Financial Officer)

XML

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Entity Registrant Name	BCB BANCORP INC
Entity Central Index Key	0001228454
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,221,897
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML

Consolidated Statements Of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and amounts due from depository institutions	$ 10,508	$ 11,808
Interest-earning deposits	199,688	120,827
Total cash and cash equivalents	210,196	132,635
Interest-earning time deposits	980	1,238
Securities available for sale	9,639	9,623
Loans held for sale	648	1,983
Loans receivable, net of allowance for loan losses of $18,168 and $18,042, respectively	1,429,549	1,420,118
Federal Home Loan Bank of New York stock, at cost	11,161	10,711
Premises and equipment, net	15,657	15,727
Accrued interest receivable	5,981	5,595
Other real estate owned	2,021	1,564
Deferred income taxes	9,870	9,881
Other assets	10,446	9,331
Total Assets	1,706,148	1,618,406
LIABILITIES
Non-interest bearing deposits	143,621	130,920
Interest bearing deposits	1,206,799	1,143,009
Total deposits	1,350,420	1,273,929
Long-term debt	210,000	200,000
Subordinated debentures	4,124	4,124
Other liabilities and accrued interest payable	9,293	6,809
Total Liabilities	$ 1,573,837	$ 1,484,862
STOCKHOLDERS' EQUITY
Preferred stock: $0.01 par value, 10,000,000 shares authorized, issued and outstanding 1,560 shares of series A, B, and C 6% noncumulative perpetual preferred stock (liquidation value $10,000 per share) at March 31, 2016 and 1,731 at December 31, 2015
Additional paid-in capital preferred stock	$ 15,464	$ 17,174
Common stock; no par value; 20,000,000 shares authorized, issued and 13,751,160 and 13,738,587 at March 31, 2016 and December 31, 2015, respectively, outstanding 11,221,897 shares and 11,209,324 shares, respectively
Additional paid-in capital common stock	$ 119,821	$ 119,682
Retained earnings	27,614	27,382
Accumulated other comprehensive (loss)	(1,492)	(1,598)
Treasury stock, at cost, 2,529,263 shares at March 31, 2016 and December 31, 2015	(29,096)	(29,096)
Total Stockholders' Equity	132,311	133,544
Total Liabilites and Stockholders' equity	$ 1,706,148	$ 1,618,406

XML

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Consolidated Statement of Financial Condition [Abstract]
Loans receivable, allowance for loan losses	$ 18,168	$ 18,042
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	1,560	1,731
Preferred stock, shares outstanding	1,560	1,731
Preferred stock, dividend rate	6.00%	6.00%
Preferred stock, liquidation preference per share	$ 10,000	$ 10,000
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	13,751,160	13,738,587
Common stock, shares outstanding	11,221,897	11,209,324
Treasury stock, shares	2,529,263	2,529,263

XML

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Loans, including fees	$ 17,493	$ 15,367
Investments, taxable	200	146
Other interest-earning assets	138	7
Total interest income	17,831	15,520
Deposits:
Demand	362	172
Savings and club	89	122
Certificates of deposit	2,034	1,121
Total deposits	2,485	1,415
Borrowed money	1,648	1,514
Total interest expense	4,133	2,929
Net interest income	13,698	12,591
Provision for loan losses	189	720
Net interest income, after provision for loan losses	13,509	11,871
Non-interest income:
Fees and service charges	711	500
Gain on sales of loans	924	676
Other	19	29
Total non-interest income	1,654	1,205
Non-interest expense:
Salaries and employee benefits	6,024	5,225
Occupancy and equipment	1,872	1,791
Data processing and service fees	1,062	1,051
Professional fees	427	102
Director fees	153	179
Regulatory assessments	350	275
Advertising and promotional	363	438
Other real estate owned, net	16	49
Other	1,470	874
Total non-interest expense	11,737	9,984
Income before income tax provision	3,426	3,092
Income tax provision	1,391	1,246
Net Income	2,035	1,846
Preferred stock dividends	234	202
Net Income available to common stockholders	$ 1,801	$ 1,644
Net Income per common share-basic and diluted
Basic	$ 0.16	$ 0.20
Diluted	$ 0.16	$ 0.20
Weighted average number of common shares outstanding
Basic	11,217	8,400
Diluted	11,219	8,421

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Income [Abstract]
Net Income		$ 2,035	$ 1,846
Unrealized gains on available-for-sale securities:
Unrealized holding gains arising during the period	[1]	106	42
Benefit plans	[2]		(15)
Other comprehensive income		106	27
Comprehensive income		$ 2,141	$ 1,873

[1] Represents the net change of the unrealized gain on available-for-sale securities. Represents unrealized gains of $179,000 less deferred taxes of $71,000, respectively, less deferred taxes of $73,000 and $29,000, respectively.

[2] Represents the net change of unrecognized loss included in net periodic pension cost. Represents a gross change of $25,000, less deferred taxes of $10,000, for the three months ended March 31, 2015. The Statements of Income line items impacted by these amounts are salaries and employee benefits and income tax provision.

XML

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Income [Abstract]
Unrealized gains (losses), before tax	$ (179,000)	$ 73,000
Unrealized gains (losses), deferred taxes	$ 71,000	29,000
Benefit plans, unrecognized gains (loss), before tax		25,000
Benefit plans, unrecognized gains (loss), deferred taxes		$ 10,000

XML

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Preferred Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance at Dec. 31, 2014		$ 106,711	$ 25,983	$ (29,105)	$ (1,337)	$ 102,252
Stock-based compensation expense		17				17
Treasury stock adjustment				9		9
Dividends payable on Series A, B and C B 6% noncumulative perpetual preferred stock			(202)			(202)
Cash dividends on common stock declared			(1,115)			(1,115)
Dividend reinvestment plan		60	(60)
Stock purchase plan		116				116
Net income			1,846			1,846
Other comprehensive income (loss)					27	27
Ending Balance at Mar. 31, 2015		106,904	26,452	(29,096)	(1,310)	102,950
Beginning Balance at Dec. 31, 2015		$ 136,856	27,382	(29,096)	(1,598)	$ 133,544
Redemption of Series A Preferred Stock		(1,710)				(1,710)
Stock-based compensation expense		$ 18				$ 18
Dividends payable on Series A, B and C B 6% noncumulative perpetual preferred stock			(234)			(234)
Cash dividends on common stock declared			(1,502)			(1,502)
Dividend reinvestment plan		67	(67)
Stock purchase plan		54				54
Net income			2,035			2,035
Other comprehensive income (loss)					106	106
Ending Balance at Mar. 31, 2016		$ 135,285	$ 27,614	$ (29,096)	$ (1,492)	$ 132,311

XML

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Changes in Stockholders' Equity [Abstract]
Preferred stock, dividend rate	6.00%	6.00%
Cash dividends declared (per share)	$ 0.14	$ 0.14

XML

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net Income	$ 2,035	$ 1,846
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment	564	501
Amortization and accretion, net	(515)	(142)
Provision for loan losses	189	720
Deferred income tax benefit	(62)	(234)
Loans originated for sale	(5,582)	(8,011)
Proceeds from sale of loans originated for sale	7,841	8,408
Gain on sales of loans originated for sale	(924)	(676)
Stock compensation expense	18	17
(Increase) in interest receivable	(386)	(272)
(Increase) decrease in other assets	(1,115)	2,583
Increase in accrued interest payable	59	68
Increase (decrease) in other liabilities	2,425	(272)
Net Cash Provided by Operating Activities	4,547	4,536
Cash flows from Investing Activities:
Proceeds from calls of securities available for sale	159	229
Proceeds from sales of other real estate owned		1,300
Redemption of interest-bearing time deposits	258
Net increase in loans receivable	(9,558)	(86,942)
Additions to premises and equipment	(494)	(1,962)
Purchase of Federal Home Loan Bank of New York stock	(450)	(900)
Net Cash Used in Investing Activities	(10,085)	(88,275)
Cash flows from Financing Activities:
Net increase in deposits	76,491	57,343
Proceeds from long-term debt	10,000	47,000
Net change in short term debt		(23,000)
Purchases/adjustments of treasury stock		9
Cash dividends paid on common stock	(1,502)	(1,115)
Cash dividends paid on preferred stock	(234)	(202)
Net proceeds from issuance of common stock	54	116
Net redemption of preferred stock	(1,710)
Net Cash Provided By Financing Activities	83,099	80,151
Net Increase (Decrease) In Cash and Cash Equivalents	77,561	(3,588)
Cash and Cash Equivalents - Begininng	132,635	32,123
Cash and Cash Equivalents - Ending	210,196	28,535
Supplemental Cash Flow Information:
Cash paid during the year for: Income taxes	452	(398)
Cash paid during the year for: Interest	4,074	$ 2,861
Non-cash items:
Transfer of loans to other real estate owned	$ 457

XML

Basis of Presentation

3 Months Ended

Mar. 31, 2016

Basis of Presentation

Basis of Presentation

Note 1 – Basis of Presentation

The accompanying unaudited consolidated financial statements include the accounts of BCB Bancorp, Inc. (the “Company”) and the Company’s wholly owned subsidiaries, BCB Community Bank (the “Bank”), BCB Holding Company Investment Company, BCB New York Asset Management, Inc. and Pamrapo Service Corporation. The Company’s business is conducted principally through the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X and, therefore, do not necessarily include all information that would be included in audited financial statements. The information furnished reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of consolidated financial condition and results of operations. All such adjustments are of a normal recurring nature. These results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2016 or any other future period. The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates.

These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the year ended December 31, 2015, which are included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission. In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred between March 31,2016, and the date these consolidated financial statements were issued.

Recent Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition. The ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 by one year.  The new guidance will be effective for public companies for periods beginning after December 15, 2017 with private companies provided a one-year deferral until periods beginning after December 15, 2018. The ASU permits application of the new revenue recognition guidance to be applied using one of two retrospective application methods. The Company has not yet determined which application method it will use or the potential effects of the new standard on the financial statements, if any. The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which will supersede the current lease requirements in Topic 840. The ASU requires lessees to recognize a right of use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of income. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet. The reporting of lease related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new guidance will be effective for years beginning after December 15, 2018 for public companies and for years beginning after December 15, 2019 for private companies. Once effective, the standard will be applied using a modified retrospective transition method to the beginning of the earliest period presented. The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718).  This ASU was issued as part of FASB’s Simplification Initiative.  The areas for simplification in this Update include income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows for share-based payment transactions.  For public companies, this ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods.  For all other entities, the amendments will be effective for annual periods beginning after December 31, 2017, and interim periods within annual periods beginning after December 15, 2018.  Early adoption is permitted.  The Company is currently assessing the impacts this new standard will have on its consolidated financial statements.

XML

Reclassification

3 Months Ended

Mar. 31, 2016

Reclassification [Abstract]

Reclassification

Note 2 – Reclassification

Certain amounts as of December 31, 2015 and the three month period ended March 31, 2015 have been reclassified to conform to the current period’s presentation. These changes had no effect on the Company’s results of operations or financial position.

XML

Pension and Other Postretirement Plans

3 Months Ended

Mar. 31, 2016

Pension and Other Postretirement Plans [Abstract]

Pension and Other Postretirement Plans

Note 3 – Pension and Other Postretirement Plans

The Company assumed, through the merger with Pamrapo Bancorp, Inc., a non-contributory defined benefit pension plan covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the defined benefit pension plan (“Pension Plan”), was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the “Pension Plan” to the freeze date have been retained. Accordingly, no employees are permitted to commence participation in the Pension Plan and future salary increases and future years of service are not considered when computing an employee’s benefits under the Pension Plan. The Pension Plan is funded in conformity with the funding requirements of applicable government regulations. The Company also acquired through the merger with Pamrapo Bancorp, Inc. a supplemental executive retirement plan (“SERP”) in which certain former employees of Pamrapo Savings Bank are covered. A SERP is an unfunded non-qualified deferred retirement plan. Participants who retire at the age of 65  (the “Normal Retirement Age”), are entitled to an annual retirement benefit equal to 75% of compensation reduced by their retirement plan annual benefits. Participants retiring before the Normal Retirement Age receive the same benefits reduced by a percentage based on years of service to the Company and the number of years prior to the Normal Retirement Age that participants retire.

Periodic pension and SERP cost, which is recorded as part of salaries and employee benefits expense in our Consolidated Statements of Income, is comprised of the following. (In Thousands):

	Three months ended March 31,
		2016		2015
Pension plan:
Interest cost	$	82	$	64
Expected return on plan assets		(131)		(108)
Amortization of unrecognized loss		36		18
Net periodic pension benefit		(13)		(26)
SERP plan:
Interest cost	$	3	$	3
Net periodic postretirement cost	$	3	$	3

Note 3 – Pension and Other Postretirement Plans(Continued)

The Company, under the plan approved by its stockholders on April 28, 2011 (“2011 Stock Plan”), authorized the issuance of up to 900,000 shares of common stock of the Company pursuant to grants of stock options. Employees and directors of the Company and the Bank are eligible to participate in the 2011 Stock Plan. All stock options will be granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code.  Only employees are permitted to receive incentive stock options. On December 2, 2015, a grant of 120,000 options and on March 7, 2014, a grant of 110,000 options was declared for certain members of the Board of Directors which vest at a rate of 10% per year, over ten years commencing on the first anniversary of the grant date. The exercise price was recorded as of the close of business on December 2, 2015 and March 7, 2014, respectively. There were 32,500 and 6,000 stock options granted to employees in the fourth quarters of 2015 and 2014, respectively, which vest at a rate of 20% per year.

There was no stock option activity in the three months ended March 31, 2016.

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2015	417,000	$	8.93-15.65	$	10.75
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2016	417,000	$	8.93-15.65	$	10.75

As of March 31, 2016, stock options which were granted and were exercisable totaled 75,700 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 341,300 shares underlying unexercised options outstanding as of March 31,2016 was $846,070 over a weighted average period of 7.79 years.

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2014	289,720	$	8.93-15.65	$	11.18
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2015	289,720	$	8.93-18.41	$	11.18

As of March 31, 2015, stock options which are granted and were exercisable totaled 74,220 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the unvested options outstanding as of March 31, 2015 was $587,244 over a weighted average period of 8.24 years.

XML

Net Income per Common Share

3 Months Ended

Mar. 31, 2016

Net Income per Common Share [Abstract]

Net Income per Common Share

Note 4 – Net Income per Common Share

Basic net income per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the three months ended March 31, 2016, the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. No adjustments to net income were necessary in calculating basic and diluted net income per share. For the three months ended March 31, 2016 and 2015 the weighted average number of outstanding options considered to be anti-dilutive were 0 and 127,000 respectively.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:

	For the Three Months Ended March 31,
	2016					2015
		Income	Shares		Per Share		Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net income available to common stockholders	$	1,801				$	1,644
Basic earnings per share-
Income available to
Common stockholders	$	1,801	11,217	$	0.16	$	1,644	8,400	$	0.20
Effect of dilutive securities:
Stock options		-	2				-	21
Diluted earnings per share-
Income available to
Common stockholders	$	1,801	11,219	$	0.16	$	1,644	8,421	$	0.20

XML

Securities Available for Sale

3 Months Ended

Mar. 31, 2016

Securities Available for Sale [Abstract]

Securities Available for Sale

Note 5 – Securities Available for Sale

The following tables present by maturity the amortized cost, gross unrealized gains and losses on, and fair value of, securities available for sale as of March 31, 2016 and December 31, 2015:

	March 31, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,401	$	71	$	29	$	3,443
Due after ten years		6,092		125		21		6,196
	$	9,493	$	196	$	50	$	9,639

	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,418	$	13	$	73	$	3,358
Due after ten years		6,238		89		62		6,265
	$	9,656	$	102	$	135	$	9,623

The unrealized losses, categorized by the length of time of continuous loss position, and fair value of related securities available for sale were as follows:

	Less than 12 Months				More than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In Thousands)
March 31, 2016
Residential mortgage-backed securities	$	-	$	-	$	3,747	$	50	$	3,747	$	50
	$	-	$	-	$	3,747	$	50	$	3,747	$	50
December 31, 2015
Residential mortgage-backed securities	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135
	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135

Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) whether the Company  intends to sell the security or more likely than not will be required to sell the security before its anticipated recovery. At March 31, 2016 and December 31, 2015, management performed an assessment for possible OTTI of the Company’s residential mortgage-backed securities on an issue-by-issue basis, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. The extent of individual analysis applied to each security depended on the size of the Company’s investment, as well as management’s perception of the credit risk associated with each security. Based on the results of the assessment, management believes impairment of these residential mortgage-backed securities, at March 31, 2016 and December 31, 2015 to be temporary.

XML

Loans Receivable and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2016

Loans Receivable and Allowance for Loan Losses [Abstract]

Loans Receivable and Allowance for Loan Losses

Note 6 - Loans Receivable and Allowance for Loan Losses

The following table presents the recorded investment in loans receivable as of March 31, 2016 and December 31, 2015 by segment and class:

	March 31, 2016		December 31, 2015
		(In Thousands)
Originated loans:
Residential one-to-four family	$	131,988	$	117,165
Commercial and multi-family		987,568		982,828
Construction		65,666		64,008
Commercial business(1)		69,370		70,340
Home equity(2)		30,967		31,237
Consumer		1,657		2,365
Sub-total		1,287,216		1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family		64,821		67,587
Commercial and multi-family		72,172		79,308
Construction		-		-
Commercial business(1)		5,012		4,281
Home equity(2)		18,153		18,851
Consumer		207		263
Sub-total		160,365		170,290
Acquired loans with deteriorated credit:
Residential one-to-four family		1,466		1,474
Commercial and multi-family		769		669
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		74		71
Consumer		-		-
Sub-total		2,472		2,381
Total Loans		1,450,053		1,440,614
Less:
Deferred loan fees, net		(2,336)		(2,454)
Allowance for loan losses		(18,168)		(18,042)
		(20,504)		(20,496)
Total Loans, net	$	1,429,549	$	1,420,118
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

Allowance for Loan Losses

Management reviews the adequacy of the allowance on at least a quarterly basis to ensure that the provision for loan losses has been charged against earnings in an amount necessary to maintain the allowance at a level that is adequate based on management’s assessment of probable estimated losses.  The Company’s methodology for assessing the adequacy of the allowance for loan losses consists of several key elements.  These elements include a general allocated reserve for performing impaired loans, a specific reserve for impaired loans and an unallocated portion.  

The Company consistently applies the following comprehensive methodology.  During the quarterly review of the allowance for loan losses, the Company considers a variety of qualitative factors that include:

· General economic conditions.

· Trends in charge-offs.

· Trends and levels of delinquent loans.

· Trends and levels of non-performing loans, including loans over 90 days delinquent.

· Trends in volume and terms of loans.

· Levels of allowance for specific classified loans.

· Credit concentrations.

The methodology includes the segregation of the loan portfolio into two divisions. Loans that are performing and loans that are impaired. Loans which are performing are evaluated homogeneously by loan class or loan type. The allowance for performing loans is evaluated based on historical loan loss experience, including consideration of peer loss analysis, with an adjustment for qualitative factors referred to above. Impaired loans are loans which are more than 90 days delinquent, troubled debt restructured, or contractual principal and interest collections are not expected to be received. These loans are individually evaluated for loan loss either by current appraisal, or net present value of cash flows, and assigned a specific reserve when it is probable that we will be unable to collect all amounts due (interest and principal) in accordance with the contractual terms of the loan agreement. Management reviews the overall estimate for feasibility and bases the loan loss provision accordingly.

The loan portfolio is segmented into the following loan classes, where the risk level for each class is analyzed when determining the allowance for loan losses:

Residential one-to-four family real estate loans. These loans involve certain risks such as interest rate risk and risk of non-repayment. Adjustable-rate residential family real estate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying property may be adversely affected by higher interest rates. Repayment risk may be affected by a number of factors including, but not necessarily limited to, job loss, divorce, illness and personal bankruptcy of the borrower.

Commercial and multi-family real estate loans. These loans entail significant additional risks as compared with residential real estate loans. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for commercial real estate as well as economic conditions generally.

Construction loans. These loans are generally considered to be high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of the general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Company than construction loans to individuals on their personal residence.

Commercial business loans. These types of loans which include lines of credit, are generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business. Commercial business loans are primarily secured by inventories and other business assets. In most cases, any repossessed collateral for a defaulted commercial business loans will not provide an adequate source of repayment of the outstanding loan balance.

Home Equity Loans. Home equity lending entails certain risks such as interest rate risk and risk of non-repayment. The marketability of the underlying property may be adversely affected by higher interest rates, decreasing the collateral securing the loan. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy of the borrower. Home equity line of credit lending entails securing an equity interest in the borrower’s home. In many cases, the Company’s position in these loans is as a junior lien holder to another institution’s superior lien. This type of lending is often priced on an adjustable rate basis with the rate set at or above a predefined index. Adjustable-rate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default.

Other consumer loans. Other consumer loans generally have more credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. Consumer loans generally have shorter terms and higher interest rates than other lending. In addition, consumer lending collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be adversely effected by job loss, divorce, illness and personal bankruptcy. In most cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan.

Acquired loans. For acquired loans that have been added to portfolio via our purchase of banks are recorded at fair value with no carryover of a related allowance for loan losses. Determining the fair value of the loans involves estimating the amount and timing of principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest.

          We have acquired loans in two separate acquisitions.(Pamrapo Savings Bank in 2010 “Pamrapo” and Allegiance Community Bank in 2011 “Allegiance”) For each acquisition, we reviewed all acquired loans and considered the following factors as indicators that such acquired loan had evidence of deterioration in credit quality and was therefore in the scope of Accounting Standards Codification (“ASC”) 310-30:

· Loans that were 90 days or more past due,

· Loans that had an internal risk rating of substandard or worse. Substandard is consistent with regulatory definitions and is defined as having a well defined weakness that jeopardizes liquidation of the loan,

· Loans that were classified as nonaccrual by the acquired bank at the time of acquisition, or,

· Loans that had been previously modified in a troubled debt restructuring.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

         Any acquired loans that were not individually in the scope of ASC 310-30 because they did not meet the criteria above were accounted for under ASC 310-20 (Nonrefundable fees and other costs.)  Charge-offs of the principal amount on acquired loans accounted for under ASC 310-20 would be charged off against the allowance for loan losses.   

Acquired loans accounted for under ASC 310-30

         We performed a fair market valuation on each of the loans and each loan was recorded at a discount which includes the establishment of an associated “Credit Mark” reducing the carrying value of that loan to its fair value at the time of acquisition. We determined that at least part of the discount on the acquired loans was attributable to credit quality by reference to the valuation model used to estimate the fair value of the loans. The valuation model incorporated lifetime expected credit losses into the loans’ fair valuation in consideration of factors such as evidence of credit deterioration since origination and the amounts of contractually required principal and interest that we did not expect to collect as of the acquisition date. The excess of expected cash flows from acquired loans over the estimated fair value of acquired loans at acquisition is referred to as the accretable discount and is recognized into interest income over the remaining life of the acquired loans using the interest method. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. The nonaccretable discount represents estimated future credit losses expected to be incurred over the life of the acquired loans.

          Subsequent decreases to the expected cash flows require us to evaluate the need for an addition to the allowance for loan losses. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the nonaccretable discount which we then reclassify as accretable discount that is recognized into interest income over the remaining life of the loan using the interest method. Our evaluation of the amount of future cash flows that we expect to collect takes into account actual credit performance of the acquired loans to date and our best estimates for the expected lifetime credit performance of the loans using currently available information. Charge-offs of the principal amount on acquired loans would be first applied to the nonaccretable discount portion of the fair value adjustment. To the extent that we experience a deterioration in credit quality in our expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on our estimate of future credit losses over the remaining life of the loans.

          In accordance with ASC 310-30, recognition of income is dependent on having a reasonable expectation about the timing and amount of cash flows expected to be collected.  We perform such an evaluation on a quarterly basis on our acquired loans individually accounted for under ASC 310-30. Cash flows for acquired loans individually accounted for under ASC 310-30 are estimated on a quarterly basis.  Based on this evaluation, a determination is made as to whether or not we have a reasonable expectation about the timing and amount of cash flows.  Such an expectation includes cash flows from normal customer repayment, foreclosure or other collection efforts. To the extent that we cannot reasonably estimate cash flows, interest income recognition is discontinued. 

          The Company also maintains an unallocated allowance.  The unallocated allowance is used to cover any factors or conditions which may cause a potential loan loss but are not specifically identifiable.  It is prudent to maintain an unallocated portion of the allowance because no matter how detailed an analysis of potential loan losses is performed, these estimates lack some element of precision.  Management must make estimates using assumptions and information that is often subjective and changing rapidly. In addition, as an integral part of their examination process, the Federal Deposit Insurance Corporation and the New Jersey Department of Banking and Insurance will periodically review the allowance for loan losses and may require us to adjust the allowance based on their analysis of information available to it at the time of its examination.

Classified Assets.  The Company’s policies provide for a classification system for problem assets.  Under this classification system, problem assets are classified as “substandard,” “doubtful,” “loss” or “special mention.”  An asset is considered substandard if it is inadequately protected by its current net worth and paying capacity of the borrower or of the collateral pledged, if any. Substandard assets include those characterized by the “distinct possibility” that “some loss” will be sustained if the deficiencies are not corrected.  Assets classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weakness present makes “collection or liquidation in full” on the basis of currently existing facts, conditions, and values, “highly questionable and improbable.”  Assets classified as loss are those considered “uncollectible” and of such little value that their continuance as assets without the establishment of a specific loss reserve is not warranted, and the loan, or a portion thereof, is charged-off.  Assets may be designated special mention because of potential weaknesses that do not currently warrant classification in one of the aforementioned categories.

When the Company classifies problem loans, it may establish general allowances for loan losses in an amount deemed prudent by management.  General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular problem assets. A portion of general loss allowances established to cover possible losses related to assets classified as substandard or doubtful may be included in determining our regulatory capital. Specific valuation allowances for loan losses generally do not qualify as regulatory capital. As of March 31, 2016, we had $39.1 million in loans classified as substandard, $20.4 million in loans classified as special mention and no loans classified as doubtful or loss. The loans classified as substandard represent primarily commercial loans secured either by residential real estate, commercial real estate or heavy equipment.  The loans that have been classified substandard were classified as such primarily because either updated financial information has not been provided timely, or the collateral underlying the loan was in the process of being revalued.

The current methodology for this calculation is determined with the Company’s specific Historical Loss Percentage (“HLP”) for each loan class, using two years of prior Company data (or eight quarters). The relative weights of prior quarters are decayed logarithmically and are further adjusted based on the trend of the historical loss percentage at the time. Also, instead of applying consistent percentages to each of the credit risk grades, the current methodology applies a higher factor to classified loans based on a delinquency risk trend and concentration risk trend by using the past due and non-accrual loans as a percentage of the specific loan category.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2016. The table also details the amount of total loans receivable, loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016. (In Thousands):

	Residential			Commercial & Multi-family	Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for loan losses:
Originated Loans:	$	2,107	$	11,643	$	722	$	1,749	$	369	$	879	$	168	$	17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Beginning Balance, December, 31, 2015		2,424		11,674		722		1,753		422		879		168		18,042
Charge-offs:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		67		-		-		3		3		-		-		73
Acquired loans with deteriorated credit:		-				-		-		-		-		-		-
Sub-total:		67		-		-		3		3		-		-		73
Recoveries:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		-		-		-		-		10		-		-		10
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		-		-		-		10		-		-		10
Provisions:
Originated Loans:		131		(68)		111		(87)		(27)		46		96		202
Acquired loans recorded at fair value:		5		(7)		-		3		(13)		-		-		(12)
Acquired loans with deteriorated credit:		-		(1)		-		-		-		-		-		(1)
Sub-total:		136		(76)		111		(84)		(40)		46		96		189
Totals:
Originated Loans:		2,238		11,575		833		1,662		342		925		264		17,839
Acquired loans recorded at fair value:		208		10		-		-		44		-		-		262
Acquired loans with deteriorated credit:		47		13		-		4		3		-		-		67
Ending Balance, March 31, 2016	$	2,493	$	11,598	$	833	$	1,666	$	389	$	925	$	264	$	18,168
Loans Receivable:
Ending Balance Originated Loans:	$	131,988	$	987,568	$	65,666	$	69,370	$	30,967	$	1,657	$	-	$	1,287,216
Ending Balance Acquired loans recorded at fair value:		64,821		72,172		-		5,012		18,153		207		-		160,365
Ending Balance Acquired loans with deteriorated credit:		1,466		769		-		163		74		-		-		2,472
Total Gross Loans:	$	198,275	$	1,060,509	$	65,666	$	74,545	$	49,194	$	1,864	$	-	$	1,450,053
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,052	$	14,630	$	2,984	$	4,103	$	1,379	$	1,263	$	-	$	33,411
Ending Balance Acquired loans recorded at fair value:		9,428		5,713		-		-		1,361		-		-		16,502
Ending Balance Acquired loans with deteriorated credit:		1,466		530		-		163		74		-		-		2,233
Ending Balance Loans individually evaluated
for impairment:	$	19,946	$	20,873	$	2,984	$	4,266	$	2,814	$	1,263	$	-	$	52,146
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	122,936	$	972,938	$	62,682	$	65,267	$	29,588	$	394	$	-	$	1,253,805
Ending Balance Acquired loans recorded at fair value:		55,393		66,459		-		5,012		16,792		207		-		143,863
Ending Balance Acquired loans with deteriorated credit:		-		239		-		-		-		-		-		239
Ending Balance Loans collectively evaluated
for impairment:	$	178,329	$	1,039,636	$	62,682	$	70,279	$	46,380	$	601	$	-	$	1,397,907
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the year ended December 31, 2015. The table also details the amount of total loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of December 31, 2015. (In Thousands):

____

		Residential		Commercial & Multi-family		Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-		10		-		80		-		-		-		90
Acquired loans recorded at fair value:		67		-		-		-		106		-		-		173
Acquired loans with deteriorated credit:		-		-		-		199		-		-		-		199
Sub-total:		67		10		-		279		106		-		-		462
Recoveries:
Originated Loans:		-		70		-		-		-		-		-		70
Acquired loans recorded at fair value:		-		-		-		-		3		-		-		3
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		70		-		-		3		-		-		73
Provisions:
Originated Loans:		(257)		1,555		(358)		953		36		430		47		2,406
Acquired loans recorded at fair value:		(80)		(85)		-		-		95		-		-		(70)
Acquired loans with deteriorated credit:		(17)		(9)		-		(30)		-		-		-		(56)
Sub-total:		(354)		1,461		(358)		923		131		430		47		2,280
Totals:
Originated Loans:		2,107		11,643		722		1,749		369		879		168		17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Ending Balance, December 31, 2015	$	2,424	$	11,674	$	722	$	1,753	$	422	$	879	$	168	$	18,042
Loans Receivables:
Ending Balance Originated Loans:	$	117,165	$	982,828	$	64,008	$	70,340	$	31,237	$	2,365	$	-	$	1,267,943
Ending Balance Acquired Loans:		67,587		79,308		-		4,281		18,851		263		-		170,290
Ending Balance Acquired loans with deteriorated credit:		1,474		669		-		167		71		-		-		2,381
Total Gross Loans:	$	186,226	$	1,062,805	$	64,008	$	74,788	$	50,159	$	2,628	$	-	$	1,440,614
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,120	$	14,681	$	-	$	4,203	$	1,456	$	1,463	$	-	$	30,923
Ending Balance Acquired Loans:		9,885		6,775		-		-		1,363		-		-		18,023
Ending Balance Acquired loans with deteriorated credit:		1,474		426		-		167		71		-		-		2,138
Ending Balance Loans individually evaluated
for impairment:	$	20,479	$	21,882	$	-	$	4,370	$	2,890	$	1,463	$	-	$	51,084
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	108,045	$	968,147	$	64,008	$	66,137	$	29,781	$	902	$	-	$	1,237,020
Ending Balance Acquired Loans:		57,702		72,533		-		4,281		17,488		263		-		152,267
Ending Balance Acquired loans with deteriorated credit:		-		243		-		-		-		-		-		243
Ending Balance Loans collectively evaluated
for impairment:	$	165,747	$	1,040,923	$	64,008	$	70,418	$	47,269	$	1,165	$	-	$	1,389,530

____

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2015. The table also details the amount of total loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016 (In Thousands):

	Residential			Commercial & Multi-family	Construction		Business (1)		Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-	-	10		-		22	-	-	-	-	-	-	-	32
Acquired loans recorded at fair value:		4	-	-		-		-	-	-	-	-	-	-	-	4
Acquired loans with deteriorated credit:		-	-	-		-		172	-	-	-	-	-	-	-	172
Sub-total:		4		10		-		194		-		-		-		208
Recoveries:
Originated Loans:		-		64		-		-		-		-		-		64
Acquired loans recorded at fair value:		-		-		-		-		1		-		-		1
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		64		-		-		1		-		-		65
Provisions:
Originated Loans:		(54)		305		(24)		388		(17)		180		47		825
Acquired loans recorded at fair value:		(77)		39		-		-		(13)		-		-		(51)
Acquired loans with deteriorated credit:		(4)		-		-		(50)		-		-		-		(54)
Sub-total:		(135)		344		(24)		338		(30)		180		47		720
Totals:
Originated Loans:		2,310		10,387		1,056		1,242		316		629		168		16,108
Acquired loans recorded at fair value:		336		141		-		-		46		-		-		523
Acquired loans with deteriorated credit:		60		23		-		11		3		-		-		97
Ending Balance, March 31, 2015	$	2,706	$	10,551	$	1,056	$	1,253	$	365	$	629	$	168	$	16,728
Loans Receivable:
Ending Balance Originated Loans:	$	133,862	$	804,160	$	79,498	$	58,791	$	31,556	$	2,570	$	-	$	1,110,437
Ending Balance Acquired loans recorded at fair value:		78,933		92,569		-		6,222		21,961		629		-		200,314
Ending Balance Acquired loans with deteriorated credit:		1,588		1,126		-		194		80		-		-		2,988
Total Gross Loans:	$	214,383	$	897,855	$	79,498	$	65,207	$	53,597	$	3,199	$	-	$	1,313,739
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	10,731	$	9,971	$	-	$	4,987	$	1,093	$	1,670	$	-	$	28,452
Ending Balance Acquired loans recorded at fair value:		9,536		6,981		-		-		1,196		-		-		17,713
Ending Balance Acquired loans with deteriorated credit:		1,588		874		-		194		80		-		-		2,736
Ending Balance Loans individually evaluated
for impairment:	$	21,855	$	17,826	$	-	$	5,181	$	2,369	$	1,670	$	-	$	48,901
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	123,131	$	794,189	$	79,498	$	53,804	$	30,463	$	900	$	-	$	1,081,985
Ending Balance Acquired loans recorded at fair value:		69,397		85,588		-		6,222		20,765		629		-		182,601
Ending Balance Acquired loans with deteriorated credit:		-		252		-		-		-		-		-		252
Ending Balance Loans collectively evaluated
for impairment:	$	192,528	$	880,029	$	79,498	$	60,026	$	51,228	$	1,529	$	-	$	1,264,838
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The table below sets forth the amounts and types of non-accrual loans in the Company’s loan portfolio as of March 31, 2016 and December 31, 2015. Loans are placed on non-accrual status when they become more than 90 days delinquent, or when the collection of principal and/or interest become doubtful. As of March 31, 2016 and December 31, 2015, total non-accrual loans differed from the amount of total loans past due greater than 90 days due to troubled debt restructuring of loans which are maintained on non-accrual status for a minimum of six months and until the borrower has demonstrated its ability to satisfy the terms of the restructured loan.   

		As of March 31, 2016		As of December 31, 2015
		(In Thousands)		(In Thousands)
Non-Accruing Loans:
Originated loans:
Residential one-to-four family	$	2,869	$	2,603
Commercial and multi-family		9,703		9,782
Construction		2,984		-
Commercial business(1)		726		718
Home equity(2)		655		777
Consumer		-		-
Sub-total:	$	16,937	$	13,880
Acquired loans recorded at fair value:
Residential one-to-four family	$	5,211	$	5,592
Commercial and multi-family		855		3,025
Construction		-		-
Commercial business(1)		-		-
Home equity(2)		671		665
Consumer		-		-
Sub-total:	$	6,737	$	9,282
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-
Commercial and multi-family		-		-
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		121		118
Consumer		-		-
Sub-total:	$	284	$	285
Total	$	23,958	$	23,447

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
With no related allowance recorded:
Residential one-to-four family	$	3,283	$	20	$	2,404	$	10
Commercial and Multi-family		10,336		70		7,179		44
Construction		1,492		41		-		-
Commercial business(1)		2,108		3		3,021		43
Home equity(2)		1,204		9		542		5
Consumer		-		-		-		-
Sub-total:	$	18,423	$	143	$	13,146	$	102
Acquired loans recorded at fair value
With no related allowance recorded:
Residential one-to-four family	$	6,731	$	51	$	4,572	$	10
Commercial and Multi-family		4,318		12		4,914		50
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		765		3		726		4
Consumer		-		-		-		-
Sub-total	$	11,814	$	66	$	10,212	$	64
Acquired loans with deteriorated credit
With no related allowance recorded:
Residential one-to-four family	$	1,470	$	-	$	1,502	$	22
Commercial and Multi-family		478		-		876		14
Construction		-		-		-		-
Commercial business(1)		-		-		97		2
Home equity(2)		73		1		81		-
Consumer		-		-		-		-
Sub-total:	$	2,021	$	1	$	2,556	$	38
Total Impaired Loans
With no related allowance recorded:	$	32,258	$	210	$	25,914	$	204

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the average recorded investment and interest income recognized on impaired loans with allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
with an allowance recorded:
Residential one-to-four family	$	5,803	$	16	$	8,984	$	85
Commercial and Multi-family		4,320		54		2,568		-
Construction		-		-		-		-
Commercial business(1)		2,046		9		1,941		22
Home equity(2)		214		1		548		7
Consumer		1,363		-		1,761		-
Sub-total:	$	13,746	$	80	$	15,802	$	114
Acquired loans recorded at fair value
with an allowance recorded:
Residential one-to-four family	$	2,926	$	25	$	5,088	$	49
Commercial and Multi-family		1,927		1		1,766		22
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		598		6		455		5
Consumer		-		-		-		-
Sub-total	$	5,451	$	32	$	7,309	$	76
Acquired loans with deteriorated credit
with an allowance recorded:
Residential one-to-four family	$	-	$	-	$	90	$	1
Commercial and Multi-family		-		-		-		-
Construction		-		-		-		-
Commercial business(1)		165		1		185		-
Home equity(2)		-		-		-		-
Consumer		-		-		-		-
Sub-total:	$	165	$	1	$	275	$	1
Total Impaired Loans
with an allowance recorded:	$	19,362	$	113	$	23,386	$	191

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment and unpaid principal balances where there is no related allowance on impaired loans by portfolio class at

March 31, 2016 and December 31, 2015. (In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with no related allowance recorded:
Residential one-to-four family	$	3,430	$	3,720	$	-	$	3,136	$	3,199	$	-
Commercial and multi-family		9,962		10,102		-		10,709		10,934		-
Construction		2,984		2,984		-		-		-		-
Commercial business(1)		2,092		3,559		-		2,123		3,183		-
Home equity(2)		1,137		1,192		-		1,270		1,326		-
Consumer		-		-		-		-		-		-
Sub-total:	$	19,605	$	21,557	$	-	$	17,238	$	18,642	$	-
Acquired loans recorded at fair
value with no related allowance
recorded:
Residential one-to-four family	$	5,816	$	6,159	$	-	$	7,646	$	8,082	$	-
Commercial and Multi-family		4,252		4,321		-		4,383		4,483		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		645		806		-		884		1,061		-
Consumer		-		-		-		-		-		-
Sub-total:	$	10,713	$	11,286	$	-	$	12,913	$	13,626	$	-
Acquired loans with deteriorated
credit with no related allowance
recorded:
Residential one-to-four family	$	1,466	$	2,093	$	-	$	1,474	$	2,101	$	-
Commercial and Multi-family		530		563		-		426		574		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		74		140		-		71		135		-
Consumer		-		-		-		-		-		-
Sub-total:	$	2,070	$	2,796	$	-	$	1,971	$	2,810	$	-
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment, unpaid principal balance, and the related allowance on impaired loans by portfolio class at March 31, 2016 and December 31, 2015. (In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with an allowance recorded:
Residential one-to-four family	$	5,622	$	5,654	$	536	$	5,984	$	5,993	$	594
Commercial and Multi-family		4,668		4,738		1,111		3,972		3,972		1,069
Construction		-		-		-		-		-		-
Commercial business(1)		2,011		2,201		834		2,080		2,445		841
Home equity(2)		242		247		8		186		189		3
Consumer		1,263		1,263		922		1,463		1,463		876
Sub-total:	$	13,806	$	14,103	$	3,411	$	13,685	$	14,062	$	3,383
Acquired loans recorded at fair
value with an allowance
recorded:
Residential one-to-four family	$	3,612	$	3,860	$	242	$	2,239	$	2,402	$	219
Commercial and Multi-family		1,461		1,463		66		2,392		2,496		85
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		716		766		42		479		518		36
Consumer		-		-		-		-		-		-
Sub-total	$	5,789	$	6,089	$	350	$	5,110	$	5,416	$	340
Acquired loans with deteriorated
credit with an allowance
recorded:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	-	$	-
Commercial and Multi-family		-		-		-		-		-		-
Construction		-		-		-		-		-		-
Commercial business(1)		163		368		-		167		368		-
Home equity(2)		-		-		-		-		-		-
Consumer		-		-		-		-		-		-
Sub-total:	$	163	$	368	$	-	$	167	$	368	$	-
Total Impaired Loans
with an allowance recorded:	$	19,758	$	20,560	$	3,761	$	18,962	$	19,846	$	3,723
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-
Total Impaired Loans:	$	52,146	$	56,199	$	3,761	$	51,084	$	54,924	$	3,723

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the total troubled debt restructured loans at March 31, 2016, excluding the purchase impairment mark on the acquired loans with deteriorated credit. (Dollars In Thousands):

	Accrual			Non-accrual			Total
March 31, 2016	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	7	$	1,833	2	$	868	9	$	2,701
Commercial and multi-family	4		3,137	14		5,997	18		9,134
Construction	-		-	-		-	-		0
Commercial business(1)	2		1,005	1		460	3		1,465
Home equity(2)	3		538	1		56	4		594
Consumer	-		-	-		-	-		0
Sub-total:	16	$	6,513	18	$	7,381	34	$	13,894
Acquired loans recorded at fair value:
Residential one-to-four family	17	$	3,952	12	$	2,963	29	$	6,915
Commercial and Multi-family	13		4,885	1		582	14		5,467
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	-		-	-		0
Home equity(2)	5		508	1		220	6		728
Consumer	-		-	-		-	-		0
Sub-total:	35	$	9,345	14	$	3,765	49	$	13,110
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,093	-	$	-	5	$	2,093
Commercial and Multi-family	1		563	-		-	1		563
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	1		163	1		163
Home equity(2)	-		-	1		121	1		121
Consumer	-		-	-		-	-		0
Sub-total:	6	$	2,656	2	$	284	8	$	2,940
Total	57	$	18,514	34	$	11,430	91	$	29,944

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the total troubled debt restructured loans at December 31, 2015, excluding the purchase impairment mark on the acquired loans with deteriorated credit. (Dollars In Thousands):

	Accrual			Non-accrual			Total
December 31, 2015	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	6	$	1,845	1	$	824	7	$	2,669
Commercial and multi-family	4		3,270	9		4,297	13		7,567
Construction	-		-	-		-	0		0
Commercial business(1)	1		778	2		705	3		1,483
Home equity(2)	2		491	3		157	5		648
Consumer	-		-	-		-	0		0
Sub-total:	13	$	6,384	15	$	5,983	28	$	12,367
Acquired loans recorded at fair value:
Residential one-to-four family	16	$	3,604	13	$	3,402	29	$	7,006
Commercial and Multi-family	13		4,863	1		582	14		5,445
Construction	-		-	-		-	0		0
Commercial business(1)	-		-	-		-	0		0
Home equity(2)	5		512	1		220	6		732
Consumer	-		-	-		-	0		0
Sub-total:	34	$	8,979	15	$	4,204	49	$	13,183
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,101	-	$	-	5	$	2,101
Commercial and Multi-family	2		574	-		-	2		574
Construction	-		-	-		-	-		-
Commercial business(1)	-		-	1		167	1		167
Home equity(2)	-		-	1		118	1		118
Consumer	-		-	-		-	-		-
Sub-total:	7	$	2,675	2	$	285	9	$	2,960
Total	54	$	18,038	32	$	10,472	86	$	28,510

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

A troubled debt restructuring (“TDR”) is a loan that has been modified whereby the Company has agreed to make certain concessions to a borrower to meet the needs of both the borrower and the Company to maximize the ultimate recovery of a loan. A TDR occurs when a borrower is experiencing, or is expected to experience, financial difficulties and the loan is modified using a modification that would otherwise not be granted to the borrower. The types of concessions granted are generally included, but not limited to interest rate reductions, limitations on the accrued interest charged, term extensions, and deferment of principal.

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2016. (Dollars In Thousands):

Three Months Ended March 31, 2016			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	1	$	71	$	71
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	1	$	71	$	71
Acquired loans recorded at fair value:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		228		228
Consumer	-		-		-
Sub-total:	1	$	228	$	228
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	2	$	299	$	299

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

The loans included above are considered TDRs as a result of the Company implementing one or more of the following concessions: granting a material extension of time, issuing a forbearance agreement, adjusting the interest rate to a below market rate, accepting interest only for a period of time or a change in amortization period. All TDRs were considered impaired and therefore were individually evaluated for impairment in the calculation of the allowance for loan losses. Prior to their classification as TDRs, certain of these loans had been collectively evaluated for impairment in the calculation of the allowance for loan losses.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2016. (Dollars In Thousands):

Three Months Ended March 31, 2016
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	1		61
Consumer	-		-
Sub-total:	1	$	61
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	1,075
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	1075
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	0	$	0
Total	2	$	1,136

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	-	$	-	$	-
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	2	$	465	$	479
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		223		223
Consumer	-		-		-
Sub-total:	3	$	688	$	702
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	3	$	688	$	702

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	222
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	222
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Total	1	$	222

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the delinquency status of total loans receivable as of March 31, 2016. (In Thousands):

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	1,965	$	2,568	$	1,872	$	6,405	$	125,583	$	131,988	$	-
Commercial and multi-family		24,764		3,078		6,791		34,633		952,935		987,568		1,095
Construction		333		-		2,984		3,317		62,349		65,666		-
Commercial business(1)		667		199		653		1,519		67,851		69,370		-
Home equity(2)		388		56		239		683		30,284		30,967		-
Consumer		7		-		-		7		1,650		1,657		-
Sub-total:	$	28,124	$	5,901	$	12,539	$	46,564	$	1,240,652	$	1,287,216	$	1,095
Acquired loans recorded at fair value:
Residential one-to-four family	$	2,636	$	603	$	3,005	$	6,244	$	58,577		64,821	$	-
Commercial and multi-family		2,684		163		786		3,633		68,539		72,172		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		49		-		-		49		4,963		5,012		-
Home equity(2)		402		343		319		1,064		17,089		18,153		-
Consumer		-		-		-		-		207		207		-
Sub-total:	$	5,771	$	1,109	$	4,110	$	10,990	$	149,375	$	160,365	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,466		1,466	$	-
Commercial and multi-family		-		-		-		-		769		769		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		163		163		-		163		-
Home equity(2)		-		-		-		-		74		74		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	-	$	-	$	163	$	163	$	2,309	$	2,472	$	-
Total	$	33,895	$	7,010	$	16,812	$	57,717	$	1,392,336	$	1,450,053	$	1,095

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the delinquency status of total loans receivable at December 31, 2015. (In Thousands):

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	3,495	$	786	$	1,577	$	5,858	$	111,307	$	117,165	$	-
Commercial and multi-family		12,491		3,362		6,467		22,320		960,508		982,828		578
Construction		4,677		80		-		4,757		59,251		64,008		-
Commercial business(1)		909		-		684		1,593		68,747		70,340		-
Home equity(2)		517		333		485		1,335		29,902		31,237		-
Consumer		-		-		-		-		2,365		2,365		-
Sub-total:	$	22,089	$	4,561	$	9,213	$	35,863	$	1,232,080	$	1,267,943	$	578
Acquired loans recorded at fair value:
Residential one-to-four family	$	3,340	$	311	$	3,512	$	7,163	$	60,424		67,587	$	-
Commercial and multi-family		1,913		1,313		1,285		4,511		74,797		79,308		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		418		-		-		418		3,863		4,281		-
Home equity(2)		727		-		331		1,058		17,793		18,851		-
Consumer		12		-		-		12		251		263		-
Sub-total:	$	6,410	$	1,624	$	5,128	$	13,162	$	157,128	$	170,290	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,474	$	1,474	$	-
Commercial and multi-family		244		-		8		252		417		669		8
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		167		167		-		167		-
Home equity(2)		-		-		-		-		71		71		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	244	$	-	$	175	$	419	$	1,962	$	2,381	$	8
Total	$	28,743	$	6,185	$	14,516	$	49,444	$	1,391,170	$	1,440,614	$	586

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of March 31, 2016. (In Thousands):

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	121,699	$	6,278	$	4,011	$	-	$	-	$	131,988
Commercial and multi-family		968,829		4,655		14,084		-		-		987,568
Construction		61,807		875		2,984		-		-		65,666
Commercial business(1)		63,671		2,110		3,589		-		-		69,370
Home equity(2)		29,452		757		758		-		-		30,967
Consumer		492		28		1,137		-		-		1,657
Sub-total:	$	1,245,950	$	14,703	$	26,563	$	-	$	-	$	1,287,216
Acquired loans recorded at fair value:
Residential one-to-four family	$	55,732	$	2,824	$	6,265	$	-	$			64,821
Commercial and multi-family		66,591		1,875		3,706		-		-		72,172
Construction		-		-		-		-		-		-
Commercial business(1)		5,012		-		-		-		-		5,012
Home equity(2)		16,735		159		1,259		-		-		18,153
Consumer		207		-		-		-		-		207
Sub-total:	$	144,277	$	4,858	$	11,230	$	-	$	-	$	160,365
Residential one-to-four family	$	147	$	277	$	1,042	$	-	$	-		1,466
Commercial and multi-family		239		530		-		-		-		769
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		163		-		-		163
Home equity(2)		-		-		74		-		-		74
Consumer		-		-		-		-		-		-
Sub-total:	$	386	$	807	$	1,279	$	-	$	-	$	2,472
Total Gross Loans	$	1,390,613	$	20,368	$	39,072	$	-	$	-	$	1,450,053

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2015. (In Thousands):

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	108,259	$	4,857	$	4,049	$	-	$	-	$	117,165
Commercial and multi-family		966,229		1,868		14,731		-		-		982,828
Construction		63,292		716		-		-		-		64,008
Commercial business(1)		64,645		2,018		3,677		-		-		70,340
Home equity(2)		29,694		714		829		-		-		31,237
Consumer		1,198		30		1,137		-		-		2,365
Sub-total:	$	1,233,317	$	10,203	$	24,423	$	-	$	-	$	1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family	$	58,362	$	2,574	$	6,651	$	-	$	-		67,587
Commercial and multi-family		72,770		1,780		4,758		-		-		79,308
Construction		-		-		-		-		-		-
Commercial business(1)		4,281		-		-		-		-		4,281
Home equity(2)		17,571		382		898		-		-		18,851
Consumer		263		-		-		-		-		263
Sub-total:	$	153,247	$	4,736	$	12,307	$	-	$	-	$	170,290
Acquired loans with deteriorated credit:
Residential one-to-four family	$	147	$	279	$	1,048	$	-	$	-		1,474
Commercial and multi-family		137		532		-		-		-		669
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		167		-		-		167
Home equity(2)		-		-		71		-		-		71
Consumer		-		-		-		-		-		-
Sub-total:	$	284	$	811	$	1,286	$	-	$	-	$	2,381
Total Gross Loans	$	1,386,848	$	15,750	$	38,016	$	-	$	-	$	1,440,614

________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the unpaid principal balance and the related recorded investment of acquired loans included in our Consolidated Statements of Financial Condition. (In Thousands):

	March 31,		December 31,
	2016		2015
Unpaid principal balance	$	170,655	$	183,046
Recorded investment		162,837		172,671

The following table presents changes in the accretable discount on loans acquired for the three months ended March 31, 2016 and 2015. (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	53,612	$	70,522
Accretion		(3,928)		(3,671)
Net Reclassification from Non-Accretable Difference		195		83
Balance, End of Period	$	49,879	$	66,934

The following table presents changes in the non-accretable yield on loans acquired for the three months ended March 31, 2016 and 2015. (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	3,041	$	3,773
Loans Sold		-		-
Net Reclassification to Accretable Difference		(195)		(83)
Balance, End of Period	$	2,846	$	3,690

XML

Fair Values of Financial Instruments

3 Months Ended

Mar. 31, 2016

Fair Values of Financial Instruments [Abstract]

Fair Values of Financial Instruments

Note 7 – Fair Values of Financial Instruments

Guidance on fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or no market activity).

An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The only assets or liabilities that the Company measured at fair value on a recurring basis were as follows. (In Thousands):

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016:
Securities available for sale — Residential Mortgage Backed Securities	$	9,639	$	-	$	9,639	$	-
As of December 31, 2015:
Securities available for sale — Residential mortgage-backed securities	$	9,623	$	-	$	9,623	$	-

The Company’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers of assets or liabilities into or out of Level 1, Level 2, or Level 3 of the fair value hierarchy during the three months ended March 31, 2016 and 2015.

The only assets or liabilities that the Company measured at fair value on a nonrecurring basis were as follows. (In Thousands):

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016
Impaired Loans	$	15,997	$	-	$	-	$	15,997
Other real estate owned	$	2,021	$	-	$	-	$	2,021
As of December 31, 2015:
Impaired Loans	$	15,239	$	-	$	-	$	15,239
Other real estate owned	$	1,564	$	-	$	-	$	1,564

Note 7 – Fair Values of Financial Instruments (Continued)

The following tables present additional quantitative information as of March 31, 2016 and December 31, 2015 about assets measured at fair value on a nonrecurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value. (Dollars in thousands):

Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
March 31, 2016:
Impaired Loans	$	15,997	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	2,021	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
December 31, 2015:
Impaired Loans	$	15,239	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	1,564	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.  The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

(3) Includes qualitative adjustments by management and estimated liquidation expenses.

The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments as of March 31, 2016 and December 31, 2015.

Cash and Cash Equivalents and Interest-Earning Time Deposits (Carried at Cost)

The carrying amounts reported in the consolidated statements of financial condition for cash and short-term instruments approximate those assets’ fair values.

Securities

The fair value of securities available for sale (carried at fair value) are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.

Loans Held for Sale (Carried at Lower of Cost or Fair Value)

The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for specific attributes of that loan. Loans held for sale are carried at their cost as of March 31, 2016 and December 31, 2015.

Loans Receivable (Carried at Cost)

The fair value of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values.

Note 7 – Fair Values of Financial Instruments (Continued)

Impaired Loans (Generally Carried at Fair Value)

A loan is impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or as a practical expedient, at the loans observable market price or the fair value of the collateral if the loan is collateral dependent. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value at March 31, 2016 and December 31, 2015 consisted of the loan balances of $19.8 million and $19.0 million, net of a valuation allowance of $3.80 million and $3.79 million, respectively.

Real Estate Owned (Generally Carried at Fair Value)

Real Estate Owned is generally carried at fair value, when the carrying value is written down to fair value, which is determined based upon independent third-party appraisals of the properties, or based upon the expected proceeds from a pending sale. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.

FHLB of New York Stock (Carried at Cost)

The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities.

Interest Receivable and Payable (Carried at Cost)

The carrying amount of interest receivable and interest payable approximates its fair value.

Deposits (Carried at Cost)

The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits.

Long-Term Debt (Carried at Cost)

Fair values of long-term debt are estimated using discounted cash flow analysis, based on quoted prices for new long-term debt with similar credit risk characteristics, terms and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party.

Off-Balance Sheet Financial Instruments

Fair values for the Company’s off-balance sheet financial instruments (lending commitments and unused lines of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these commitments was deemed immaterial and is not presented in the accompanying table.

Note 7 – Fair Values of Financial Instruments (Continued)

The carrying values and estimated fair values of financial instruments were as follows as of March 31, 2016 and December 31, 2015:

		As of March 31, 2016
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	210,196	$	210,196	$	210,196	$		$
Interest-earning time deposits		980		980		980
Securities available for sale		9,493		9,639				9,639
Loans held for sale		648		667				667
Loans receivable, net		1,429,549		1,464,202						1,464,202
FHLB of New York stock, at cost		11,161		11,161				11,161
Accrued interest receivable		5,981		5,981				5,981
Financial liabilities:
Deposits		1,350,420		1,352,216		717,421		634,795
Borrowings		210,000		214,059				214,059
Subordinated debentures		4,124		4,204				4,204
Accrued interest payable		1,113		1,113				1,113

		As of December 31, 2015
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	132,635	$	132,635	$	132,635	$	-	$	-
Interest-earning time deposits		1,238		1,238		1,238		-		-
Securities available for sale		9,623		9,623		-		9,623		-
Securities held to maturity		-		-		-		-		-
Loans held for sale		1,983		2,004		-		2,004		-
Loans receivable, net		1,420,118		1,443,739		-		-		1,443,739
FHLB of New York stock, at cost		10,711		10,711		-		10,711		-
Accrued interest receivable		5,595		5,595		-		5,595		-
Financial liabilities:
Deposits		1,273,929		1,270,267		653,763		616,504		-
Borrowings		200,000		202,948		-		202,948		-
Subordinated debentures		4,124		4,185		-		4,185		-
Accrued interest payable		1,053		1,053		-		1,053		-

XML

Pension and Other Postretirement Plans (Tables)

3 Months Ended

Mar. 31, 2016

Pension and Other Postretirement Plans [Abstract]

Schedule Of Periodic Pension And SERP Cost

	Three months ended March 31,
		2016		2015
Pension plan:
Interest cost	$	82	$	64
Expected return on plan assets		(131)		(108)
Amortization of unrecognized loss		36		18
Net periodic pension benefit		(13)		(26)
SERP plan:
Interest cost	$	3	$	3
Net periodic postretirement cost	$	3	$	3

Summary of Stock Option Activity

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2015	417,000	$	8.93-15.65	$	10.75
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2016	417,000	$	8.93-15.65	$	10.75

	Number of  Option
	Shares		Range of Exercise Prices		Weighted Average Exercise Price
Outstanding at December 31, 2014	289,720	$	8.93-15.65	$	11.18
Options granted	-		-		-
Options exercised	-		-		-
Options forfeited	-		-		-
Options expired	-		-		-
Outstanding at March 31, 2015	289,720	$	8.93-18.41	$	11.18

XML

Net Income per Common Share (Tables)

3 Months Ended

Mar. 31, 2016

Net Income per Common Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

	For the Three Months Ended March 31,
	2016					2015
		Income	Shares		Per Share		Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net income available to common stockholders	$	1,801				$	1,644
Basic earnings per share-
Income available to
Common stockholders	$	1,801	11,217	$	0.16	$	1,644	8,400	$	0.20
Effect of dilutive securities:
Stock options		-	2				-	21
Diluted earnings per share-
Income available to
Common stockholders	$	1,801	11,219	$	0.16	$	1,644	8,421	$	0.20

XML

Securities Available for Sale (Tables)

3 Months Ended

Mar. 31, 2016

Securities Available for Sale [Abstract]

Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale

	March 31, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,401	$	71	$	29	$	3,443
Due after ten years		6,092		125		21		6,196
	$	9,493	$	196	$	50	$	9,639

	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential mortgage-backed securities:
Due after five years through ten years	$	3,418	$	13	$	73	$	3,358
Due after ten years		6,238		89		62		6,265
	$	9,656	$	102	$	135	$	9,623

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

	Less than 12 Months				More than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In Thousands)
March 31, 2016
Residential mortgage-backed securities	$	-	$	-	$	3,747	$	50	$	3,747	$	50
	$	-	$	-	$	3,747	$	50	$	3,747	$	50
December 31, 2015
Residential mortgage-backed securities	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135
	$	1,163	$	4	$	3,686	$	131	$	4,849	$	135

XML

Loans Receivable and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2016

Loans Receivable and Allowance for Loan Losses [Abstract]

Recorded Investments in Loans Receivable

The following table presents the recorded investment in loans receivable as of March 31, 2016 and December 31, 2015 by segment and class:

	March 31, 2016		December 31, 2015
		(In Thousands)
Originated loans:
Residential one-to-four family	$	131,988	$	117,165
Commercial and multi-family		987,568		982,828
Construction		65,666		64,008
Commercial business(1)		69,370		70,340
Home equity(2)		30,967		31,237
Consumer		1,657		2,365
Sub-total		1,287,216		1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family		64,821		67,587
Commercial and multi-family		72,172		79,308
Construction		-		-
Commercial business(1)		5,012		4,281
Home equity(2)		18,153		18,851
Consumer		207		263
Sub-total		160,365		170,290
Acquired loans with deteriorated credit:
Residential one-to-four family		1,466		1,474
Commercial and multi-family		769		669
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		74		71
Consumer		-		-
Sub-total		2,472		2,381
Total Loans		1,450,053		1,440,614
Less:
Deferred loan fees, net		(2,336)		(2,454)
Allowance for loan losses		(18,168)		(18,042)
		(20,504)		(20,496)
Total Loans, net	$	1,429,549	$	1,420,118
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Allowance for Credit Losses on Financing Receivables

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2016. The table also details the amount of total loans receivable, loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016. (In Thousands):

	Residential			Commercial & Multi-family	Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for loan losses:
Originated Loans:	$	2,107	$	11,643	$	722	$	1,749	$	369	$	879	$	168	$	17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Beginning Balance, December, 31, 2015		2,424		11,674		722		1,753		422		879		168		18,042
Charge-offs:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		67		-		-		3		3		-		-		73
Acquired loans with deteriorated credit:		-				-		-		-		-		-		-
Sub-total:		67		-		-		3		3		-		-		73
Recoveries:
Originated Loans:		-		-		-		-		-		-		-		-
Acquired loans recorded at fair value:		-		-		-		-		10		-		-		10
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		-		-		-		10		-		-		10
Provisions:
Originated Loans:		131		(68)		111		(87)		(27)		46		96		202
Acquired loans recorded at fair value:		5		(7)		-		3		(13)		-		-		(12)
Acquired loans with deteriorated credit:		-		(1)		-		-		-		-		-		(1)
Sub-total:		136		(76)		111		(84)		(40)		46		96		189
Totals:
Originated Loans:		2,238		11,575		833		1,662		342		925		264		17,839
Acquired loans recorded at fair value:		208		10		-		-		44		-		-		262
Acquired loans with deteriorated credit:		47		13		-		4		3		-		-		67
Ending Balance, March 31, 2016	$	2,493	$	11,598	$	833	$	1,666	$	389	$	925	$	264	$	18,168
Loans Receivable:
Ending Balance Originated Loans:	$	131,988	$	987,568	$	65,666	$	69,370	$	30,967	$	1,657	$	-	$	1,287,216
Ending Balance Acquired loans recorded at fair value:		64,821		72,172		-		5,012		18,153		207		-		160,365
Ending Balance Acquired loans with deteriorated credit:		1,466		769		-		163		74		-		-		2,472
Total Gross Loans:	$	198,275	$	1,060,509	$	65,666	$	74,545	$	49,194	$	1,864	$	-	$	1,450,053
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,052	$	14,630	$	2,984	$	4,103	$	1,379	$	1,263	$	-	$	33,411
Ending Balance Acquired loans recorded at fair value:		9,428		5,713		-		-		1,361		-		-		16,502
Ending Balance Acquired loans with deteriorated credit:		1,466		530		-		163		74		-		-		2,233
Ending Balance Loans individually evaluated
for impairment:	$	19,946	$	20,873	$	2,984	$	4,266	$	2,814	$	1,263	$	-	$	52,146
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	122,936	$	972,938	$	62,682	$	65,267	$	29,588	$	394	$	-	$	1,253,805
Ending Balance Acquired loans recorded at fair value:		55,393		66,459		-		5,012		16,792		207		-		143,863
Ending Balance Acquired loans with deteriorated credit:		-		239		-		-		-		-		-		239
Ending Balance Loans collectively evaluated
for impairment:	$	178,329	$	1,039,636	$	62,682	$	70,279	$	46,380	$	601	$	-	$	1,397,907
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the year ended December 31, 2015. The table also details the amount of total loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of December 31, 2015. (In Thousands):

____

		Residential		Commercial & Multi-family		Construction		Commercial Business (1)		Home Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-		10		-		80		-		-		-		90
Acquired loans recorded at fair value:		67		-		-		-		106		-		-		173
Acquired loans with deteriorated credit:		-		-		-		199		-		-		-		199
Sub-total:		67		10		-		279		106		-		-		462
Recoveries:
Originated Loans:		-		70		-		-		-		-		-		70
Acquired loans recorded at fair value:		-		-		-		-		3		-		-		3
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		70		-		-		3		-		-		73
Provisions:
Originated Loans:		(257)		1,555		(358)		953		36		430		47		2,406
Acquired loans recorded at fair value:		(80)		(85)		-		-		95		-		-		(70)
Acquired loans with deteriorated credit:		(17)		(9)		-		(30)		-		-		-		(56)
Sub-total:		(354)		1,461		(358)		923		131		430		47		2,280
Totals:
Originated Loans:		2,107		11,643		722		1,749		369		879		168		17,637
Acquired loans recorded at fair value:		270		17		-		-		50		-		-		337
Acquired loans with deteriorated credit:		47		14		-		4		3		-		-		68
Ending Balance, December 31, 2015	$	2,424	$	11,674	$	722	$	1,753	$	422	$	879	$	168	$	18,042
Loans Receivables:
Ending Balance Originated Loans:	$	117,165	$	982,828	$	64,008	$	70,340	$	31,237	$	2,365	$	-	$	1,267,943
Ending Balance Acquired Loans:		67,587		79,308		-		4,281		18,851		263		-		170,290
Ending Balance Acquired loans with deteriorated credit:		1,474		669		-		167		71		-		-		2,381
Total Gross Loans:	$	186,226	$	1,062,805	$	64,008	$	74,788	$	50,159	$	2,628	$	-	$	1,440,614
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	9,120	$	14,681	$	-	$	4,203	$	1,456	$	1,463	$	-	$	30,923
Ending Balance Acquired Loans:		9,885		6,775		-		-		1,363		-		-		18,023
Ending Balance Acquired loans with deteriorated credit:		1,474		426		-		167		71		-		-		2,138
Ending Balance Loans individually evaluated
for impairment:	$	20,479	$	21,882	$	-	$	4,370	$	2,890	$	1,463	$	-	$	51,084
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	108,045	$	968,147	$	64,008	$	66,137	$	29,781	$	902	$	-	$	1,237,020
Ending Balance Acquired Loans:		57,702		72,533		-		4,281		17,488		263		-		152,267
Ending Balance Acquired loans with deteriorated credit:		-		243		-		-		-		-		-		243
Ending Balance Loans collectively evaluated
for impairment:	$	165,747	$	1,040,923	$	64,008	$	70,418	$	47,269	$	1,165	$	-	$	1,389,530

____

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2015. The table also details the amount of total loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2016 (In Thousands):

	Residential			Commercial & Multi-family	Construction		Business (1)		Equity (2)		Consumer		Unallocated		Total
Allowance for credit losses:
Originated Loans:	$	2,364	$	10,028	$	1,080	$	876	$	333	$	449	$	121	$	15,251
Acquired loans recorded at fair value:		417		102		-		-		58		-		-		577
Acquired loans with deteriorated credit:		64		23		-		233		3		-		-		323
Beginning Balance, December 31, 2014		2,845		10,153		1,080		1,109		394		449		121		16,151
Charge-offs:
Originated Loans:		-	-	10		-		22	-	-	-	-	-	-	-	32
Acquired loans recorded at fair value:		4	-	-		-		-	-	-	-	-	-	-	-	4
Acquired loans with deteriorated credit:		-	-	-		-		172	-	-	-	-	-	-	-	172
Sub-total:		4		10		-		194		-		-		-		208
Recoveries:
Originated Loans:		-		64		-		-		-		-		-		64
Acquired loans recorded at fair value:		-		-		-		-		1		-		-		1
Acquired loans with deteriorated credit:		-		-		-		-		-		-		-		-
Sub-total:		-		64		-		-		1		-		-		65
Provisions:
Originated Loans:		(54)		305		(24)		388		(17)		180		47		825
Acquired loans recorded at fair value:		(77)		39		-		-		(13)		-		-		(51)
Acquired loans with deteriorated credit:		(4)		-		-		(50)		-		-		-		(54)
Sub-total:		(135)		344		(24)		338		(30)		180		47		720
Totals:
Originated Loans:		2,310		10,387		1,056		1,242		316		629		168		16,108
Acquired loans recorded at fair value:		336		141		-		-		46		-		-		523
Acquired loans with deteriorated credit:		60		23		-		11		3		-		-		97
Ending Balance, March 31, 2015	$	2,706	$	10,551	$	1,056	$	1,253	$	365	$	629	$	168	$	16,728
Loans Receivable:
Ending Balance Originated Loans:	$	133,862	$	804,160	$	79,498	$	58,791	$	31,556	$	2,570	$	-	$	1,110,437
Ending Balance Acquired loans recorded at fair value:		78,933		92,569		-		6,222		21,961		629		-		200,314
Ending Balance Acquired loans with deteriorated credit:		1,588		1,126		-		194		80		-		-		2,988
Total Gross Loans:	$	214,383	$	897,855	$	79,498	$	65,207	$	53,597	$	3,199	$	-	$	1,313,739
Ending Balance: Loans individually evaluated
for impairment:
Ending Balance Originated Loans:	$	10,731	$	9,971	$	-	$	4,987	$	1,093	$	1,670	$	-	$	28,452
Ending Balance Acquired loans recorded at fair value:		9,536		6,981		-		-		1,196		-		-		17,713
Ending Balance Acquired loans with deteriorated credit:		1,588		874		-		194		80		-		-		2,736
Ending Balance Loans individually evaluated
for impairment:	$	21,855	$	17,826	$	-	$	5,181	$	2,369	$	1,670	$	-	$	48,901
Ending Balance: Loans collectively evaluated
for impairment:
Ending Balance Originated Loans:	$	123,131	$	794,189	$	79,498	$	53,804	$	30,463	$	900	$	-	$	1,081,985
Ending Balance Acquired loans recorded at fair value:		69,397		85,588		-		6,222		20,765		629		-		182,601
Ending Balance Acquired loans with deteriorated credit:		-		252		-		-		-		-		-		252
Ending Balance Loans collectively evaluated
for impairment:	$	192,528	$	880,029	$	79,498	$	60,026	$	51,228	$	1,529	$	-	$	1,264,838
_____________________________
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Non-Accruing Loans

		As of March 31, 2016		As of December 31, 2015
		(In Thousands)		(In Thousands)
Non-Accruing Loans:
Originated loans:
Residential one-to-four family	$	2,869	$	2,603
Commercial and multi-family		9,703		9,782
Construction		2,984		-
Commercial business(1)		726		718
Home equity(2)		655		777
Consumer		-		-
Sub-total:	$	16,937	$	13,880
Acquired loans recorded at fair value:
Residential one-to-four family	$	5,211	$	5,592
Commercial and multi-family		855		3,025
Construction		-		-
Commercial business(1)		-		-
Home equity(2)		671		665
Consumer		-		-
Sub-total:	$	6,737	$	9,282
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-
Commercial and multi-family		-		-
Construction		-		-
Commercial business(1)		163		167
Home equity(2)		121		118
Consumer		-		-
Sub-total:	$	284	$	285
Total	$	23,958	$	23,447

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Impaired Financing Receivables

The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
With no related allowance recorded:
Residential one-to-four family	$	3,283	$	20	$	2,404	$	10
Commercial and Multi-family		10,336		70		7,179		44
Construction		1,492		41		-		-
Commercial business(1)		2,108		3		3,021		43
Home equity(2)		1,204		9		542		5
Consumer		-		-		-		-
Sub-total:	$	18,423	$	143	$	13,146	$	102
Acquired loans recorded at fair value
With no related allowance recorded:
Residential one-to-four family	$	6,731	$	51	$	4,572	$	10
Commercial and Multi-family		4,318		12		4,914		50
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		765		3		726		4
Consumer		-		-		-		-
Sub-total	$	11,814	$	66	$	10,212	$	64
Acquired loans with deteriorated credit
With no related allowance recorded:
Residential one-to-four family	$	1,470	$	-	$	1,502	$	22
Commercial and Multi-family		478		-		876		14
Construction		-		-		-		-
Commercial business(1)		-		-		97		2
Home equity(2)		73		1		81		-
Consumer		-		-		-		-
Sub-total:	$	2,021	$	1	$	2,556	$	38
Total Impaired Loans
With no related allowance recorded:	$	32,258	$	210	$	25,914	$	204

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the average recorded investment and interest income recognized on impaired loans with allowance recorded by portfolio class for the three months ended March 31, 2016 and 2015. (In Thousands):

		Three Months Ended March 31,
		2016		2016		2015		2015
		Average		Interest		Average		Interest
		Recorded		Income		Recorded		Income
Originated loans		Investment		Recognized		Investment		Recognized
with an allowance recorded:
Residential one-to-four family	$	5,803	$	16	$	8,984	$	85
Commercial and Multi-family		4,320		54		2,568		-
Construction		-		-		-		-
Commercial business(1)		2,046		9		1,941		22
Home equity(2)		214		1		548		7
Consumer		1,363		-		1,761		-
Sub-total:	$	13,746	$	80	$	15,802	$	114
Acquired loans recorded at fair value
with an allowance recorded:
Residential one-to-four family	$	2,926	$	25	$	5,088	$	49
Commercial and Multi-family		1,927		1		1,766		22
Construction		-		-		-		-
Commercial business(1)		-		-		-		-
Home equity(2)		598		6		455		5
Consumer		-		-		-		-
Sub-total	$	5,451	$	32	$	7,309	$	76
Acquired loans with deteriorated credit
with an allowance recorded:
Residential one-to-four family	$	-	$	-	$	90	$	1
Commercial and Multi-family		-		-		-		-
Construction		-		-		-		-
Commercial business(1)		165		1		185		-
Home equity(2)		-		-		-		-
Consumer		-		-		-		-
Sub-total:	$	165	$	1	$	275	$	1
Total Impaired Loans
with an allowance recorded:	$	19,362	$	113	$	23,386	$	191

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment and unpaid principal balances where there is no related allowance on impaired loans by portfolio class at

March 31, 2016 and December 31, 2015. (In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with no related allowance recorded:
Residential one-to-four family	$	3,430	$	3,720	$	-	$	3,136	$	3,199	$	-
Commercial and multi-family		9,962		10,102		-		10,709		10,934		-
Construction		2,984		2,984		-		-		-		-
Commercial business(1)		2,092		3,559		-		2,123		3,183		-
Home equity(2)		1,137		1,192		-		1,270		1,326		-
Consumer		-		-		-		-		-		-
Sub-total:	$	19,605	$	21,557	$	-	$	17,238	$	18,642	$	-
Acquired loans recorded at fair
value with no related allowance
recorded:
Residential one-to-four family	$	5,816	$	6,159	$	-	$	7,646	$	8,082	$	-
Commercial and Multi-family		4,252		4,321		-		4,383		4,483		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		645		806		-		884		1,061		-
Consumer		-		-		-		-		-		-
Sub-total:	$	10,713	$	11,286	$	-	$	12,913	$	13,626	$	-
Acquired loans with deteriorated
credit with no related allowance
recorded:
Residential one-to-four family	$	1,466	$	2,093	$	-	$	1,474	$	2,101	$	-
Commercial and Multi-family		530		563		-		426		574		-
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		74		140		-		71		135		-
Consumer		-		-		-		-		-		-
Sub-total:	$	2,070	$	2,796	$	-	$	1,971	$	2,810	$	-
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-

__________

(1) Includes business lines of credit.
(2) Includes home equity lines of credit.

Note 6-Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes the recorded investment, unpaid principal balance, and the related allowance on impaired loans by portfolio class at March 31, 2016 and December 31, 2015. (In Thousands):

		As of March 31, 2016						As of December 31, 2015
		Recorded		Unpaid Principal		Related		Recorded		Unpaid Principal		Related
Originated loans		Investment		Balance		Allowance		Investment		Balance		Allowance
with an allowance recorded:
Residential one-to-four family	$	5,622	$	5,654	$	536	$	5,984	$	5,993	$	594
Commercial and Multi-family		4,668		4,738		1,111		3,972		3,972		1,069
Construction		-		-		-		-		-		-
Commercial business(1)		2,011		2,201		834		2,080		2,445		841
Home equity(2)		242		247		8		186		189		3
Consumer		1,263		1,263		922		1,463		1,463		876
Sub-total:	$	13,806	$	14,103	$	3,411	$	13,685	$	14,062	$	3,383
Acquired loans recorded at fair
value with an allowance
recorded:
Residential one-to-four family	$	3,612	$	3,860	$	242	$	2,239	$	2,402	$	219
Commercial and Multi-family		1,461		1,463		66		2,392		2,496		85
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		-		-		-		-
Home equity(2)		716		766		42		479		518		36
Consumer		-		-		-		-		-		-
Sub-total	$	5,789	$	6,089	$	350	$	5,110	$	5,416	$	340
Acquired loans with deteriorated
credit with an allowance
recorded:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	-	$	-
Commercial and Multi-family		-		-		-		-		-		-
Construction		-		-		-		-		-		-
Commercial business(1)		163		368		-		167		368		-
Home equity(2)		-		-		-		-		-		-
Consumer		-		-		-		-		-		-
Sub-total:	$	163	$	368	$	-	$	167	$	368	$	-
Total Impaired Loans
with an allowance recorded:	$	19,758	$	20,560	$	3,761	$	18,962	$	19,846	$	3,723
Total Impaired Loans
with no related allowance recorded:	$	32,388	$	35,639	$	-	$	32,122	$	35,078	$	-
Total Impaired Loans:	$	52,146	$	56,199	$	3,761	$	51,084	$	54,924	$	3,723

Troubled Debt Restructurings on Financing Receivables

The following table presents the total troubled debt restructured loans at March 31, 2016, excluding the purchase impairment mark on the acquired loans with deteriorated credit. (Dollars In Thousands):

	Accrual			Non-accrual			Total
March 31, 2016	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	7	$	1,833	2	$	868	9	$	2,701
Commercial and multi-family	4		3,137	14		5,997	18		9,134
Construction	-		-	-		-	-		0
Commercial business(1)	2		1,005	1		460	3		1,465
Home equity(2)	3		538	1		56	4		594
Consumer	-		-	-		-	-		0
Sub-total:	16	$	6,513	18	$	7,381	34	$	13,894
Acquired loans recorded at fair value:
Residential one-to-four family	17	$	3,952	12	$	2,963	29	$	6,915
Commercial and Multi-family	13		4,885	1		582	14		5,467
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	-		-	-		0
Home equity(2)	5		508	1		220	6		728
Consumer	-		-	-		-	-		0
Sub-total:	35	$	9,345	14	$	3,765	49	$	13,110
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,093	-	$	-	5	$	2,093
Commercial and Multi-family	1		563	-		-	1		563
Construction	-		-	-		-	-		0
Commercial business(1)	-		-	1		163	1		163
Home equity(2)	-		-	1		121	1		121
Consumer	-		-	-		-	-		0
Sub-total:	6	$	2,656	2	$	284	8	$	2,940
Total	57	$	18,514	34	$	11,430	91	$	29,944

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the total troubled debt restructured loans at December 31, 2015, excluding the purchase impairment mark on the acquired loans with deteriorated credit. (Dollars In Thousands):

	Accrual			Non-accrual			Total
December 31, 2015	# of Loans		Amount	# of Loans		Amount	# of Loans		Amount
Originated loans:
Residential one-to-four family	6	$	1,845	1	$	824	7	$	2,669
Commercial and multi-family	4		3,270	9		4,297	13		7,567
Construction	-		-	-		-	0		0
Commercial business(1)	1		778	2		705	3		1,483
Home equity(2)	2		491	3		157	5		648
Consumer	-		-	-		-	0		0
Sub-total:	13	$	6,384	15	$	5,983	28	$	12,367
Acquired loans recorded at fair value:
Residential one-to-four family	16	$	3,604	13	$	3,402	29	$	7,006
Commercial and Multi-family	13		4,863	1		582	14		5,445
Construction	-		-	-		-	0		0
Commercial business(1)	-		-	-		-	0		0
Home equity(2)	5		512	1		220	6		732
Consumer	-		-	-		-	0		0
Sub-total:	34	$	8,979	15	$	4,204	49	$	13,183
Acquired loans with deteriorated credit:
Residential one-to-four family	5	$	2,101	-	$	-	5	$	2,101
Commercial and Multi-family	2		574	-		-	2		574
Construction	-		-	-		-	-		-
Commercial business(1)	-		-	1		167	1		167
Home equity(2)	-		-	1		118	1		118
Consumer	-		-	-		-	-		-
Sub-total:	7	$	2,675	2	$	285	9	$	2,960
Total	54	$	18,038	32	$	10,472	86	$	28,510

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

A troubled debt restructuring (“TDR”) is a loan that has been modified whereby the Company has agreed to make certain concessions to a borrower to meet the needs of both the borrower and the Company to maximize the ultimate recovery of a loan. A TDR occurs when a borrower is experiencing, or is expected to experience, financial difficulties and the loan is modified using a modification that would otherwise not be granted to the borrower. The types of concessions granted are generally included, but not limited to interest rate reductions, limitations on the accrued interest charged, term extensions, and deferment of principal.

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2016. (Dollars In Thousands):

Three Months Ended March 31, 2016			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	1	$	71	$	71
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	1	$	71	$	71
Acquired loans recorded at fair value:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		228		228
Consumer	-		-		-
Sub-total:	1	$	228	$	228
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	2	$	299	$	299

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

The loans included above are considered TDRs as a result of the Company implementing one or more of the following concessions: granting a material extension of time, issuing a forbearance agreement, adjusting the interest rate to a below market rate, accepting interest only for a period of time or a change in amortization period. All TDRs were considered impaired and therefore were individually evaluated for impairment in the calculation of the allowance for loan losses. Prior to their classification as TDRs, certain of these loans had been collectively evaluated for impairment in the calculation of the allowance for loan losses.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2016. (Dollars In Thousands):

Three Months Ended March 31, 2016
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	1		61
Consumer	-		-
Sub-total:	1	$	61
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	1,075
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	1075
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	0	$	0
Total	2	$	1,136

__________
(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued

The following table summarizes information in regards to troubled debt restructurings which occurred during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015			Pre-Modification Outstanding		Post-Modification Outstanding
	Number of Contracts		Recorded Investments		Recorded Investments
Originated loans:
Residential one-to-four family	-	$	-	$	-
Commercial and multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	2	$	465	$	479
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	1		223		223
Consumer	-		-		-
Sub-total:	3	$	688	$	702
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-	$	-
Commercial and Multi-family	-		-		-
Construction	-		-		-
Commercial business(1)	-		-		-
Home equity(2)	-		-		-
Consumer	-		-		-
Sub-total:	-	$	-	$	-
Total	3	$	688	$	702

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table summarizes information in regards to troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2015. (Dollars In Thousands):

Three Months Ended March 31, 2015
	Number of Contracts		Recorded Investment
Originated loans:
Residential one-to-four family	-	$	-
Commercial and multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Acquired loans recorded at fair value:
Residential one-to-four family	1	$	222
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	1	$	222
Acquired loans with deteriorated credit:
Residential one-to-four family	-	$	-
Commercial and Multi-family	-		-
Construction	-		-
Commercial business(1)	-		-
Home equity(2)	-		-
Consumer	-		-
Sub-total:	-	$	-
Total	1	$	222

Delinquency Status of Total Loans Receivable

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	1,965	$	2,568	$	1,872	$	6,405	$	125,583	$	131,988	$	-
Commercial and multi-family		24,764		3,078		6,791		34,633		952,935		987,568		1,095
Construction		333		-		2,984		3,317		62,349		65,666		-
Commercial business(1)		667		199		653		1,519		67,851		69,370		-
Home equity(2)		388		56		239		683		30,284		30,967		-
Consumer		7		-		-		7		1,650		1,657		-
Sub-total:	$	28,124	$	5,901	$	12,539	$	46,564	$	1,240,652	$	1,287,216	$	1,095
Acquired loans recorded at fair value:
Residential one-to-four family	$	2,636	$	603	$	3,005	$	6,244	$	58,577		64,821	$	-
Commercial and multi-family		2,684		163		786		3,633		68,539		72,172		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		49		-		-		49		4,963		5,012		-
Home equity(2)		402		343		319		1,064		17,089		18,153		-
Consumer		-		-		-		-		207		207		-
Sub-total:	$	5,771	$	1,109	$	4,110	$	10,990	$	149,375	$	160,365	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,466		1,466	$	-
Commercial and multi-family		-		-		-		-		769		769		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		163		163		-		163		-
Home equity(2)		-		-		-		-		74		74		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	-	$	-	$	163	$	163	$	2,309	$	2,472	$	-
Total	$	33,895	$	7,010	$	16,812	$	57,717	$	1,392,336	$	1,450,053	$	1,095

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table sets forth the delinquency status of total loans receivable at December 31, 2015. (In Thousands):

													Loans Receivable
	30-59 Days		60-90 Days		Greater Than		Total Past				Total Loans		>90 Days
	Past Due		Past Due		90 Days		Due		Current		Receivable		and Accruing
		(In Thousands)
Originated loans:
Residential one-to-four family	$	3,495	$	786	$	1,577	$	5,858	$	111,307	$	117,165	$	-
Commercial and multi-family		12,491		3,362		6,467		22,320		960,508		982,828		578
Construction		4,677		80		-		4,757		59,251		64,008		-
Commercial business(1)		909		-		684		1,593		68,747		70,340		-
Home equity(2)		517		333		485		1,335		29,902		31,237		-
Consumer		-		-		-		-		2,365		2,365		-
Sub-total:	$	22,089	$	4,561	$	9,213	$	35,863	$	1,232,080	$	1,267,943	$	578
Acquired loans recorded at fair value:
Residential one-to-four family	$	3,340	$	311	$	3,512	$	7,163	$	60,424		67,587	$	-
Commercial and multi-family		1,913		1,313		1,285		4,511		74,797		79,308		-
Construction		-		-		-		-		-		-		-
Commercial business(1)		418		-		-		418		3,863		4,281		-
Home equity(2)		727		-		331		1,058		17,793		18,851		-
Consumer		12		-		-		12		251		263		-
Sub-total:	$	6,410	$	1,624	$	5,128	$	13,162	$	157,128	$	170,290	$	-
Acquired loans with deteriorated credit:
Residential one-to-four family	$	-	$	-	$	-	$	-	$	1,474	$	1,474	$	-
Commercial and multi-family		244		-		8		252		417		669		8
Construction		-		-		-		-		-		-		-
Commercial business(1)		-		-		167		167		-		167		-
Home equity(2)		-		-		-		-		71		71		-
Consumer		-		-		-		-		-		-		-
Sub-total:	$	244	$	-	$	175	$	419	$	1,962	$	2,381	$	8
Total	$	28,743	$	6,185	$	14,516	$	49,444	$	1,391,170	$	1,440,614	$	586

__________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Financing Receivable Credit Quality Indicators

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	121,699	$	6,278	$	4,011	$	-	$	-	$	131,988
Commercial and multi-family		968,829		4,655		14,084		-		-		987,568
Construction		61,807		875		2,984		-		-		65,666
Commercial business(1)		63,671		2,110		3,589		-		-		69,370
Home equity(2)		29,452		757		758		-		-		30,967
Consumer		492		28		1,137		-		-		1,657
Sub-total:	$	1,245,950	$	14,703	$	26,563	$	-	$	-	$	1,287,216
Acquired loans recorded at fair value:
Residential one-to-four family	$	55,732	$	2,824	$	6,265	$	-	$			64,821
Commercial and multi-family		66,591		1,875		3,706		-		-		72,172
Construction		-		-		-		-		-		-
Commercial business(1)		5,012		-		-		-		-		5,012
Home equity(2)		16,735		159		1,259		-		-		18,153
Consumer		207		-		-		-		-		207
Sub-total:	$	144,277	$	4,858	$	11,230	$	-	$	-	$	160,365
Residential one-to-four family	$	147	$	277	$	1,042	$	-	$	-		1,466
Commercial and multi-family		239		530		-		-		-		769
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		163		-		-		163
Home equity(2)		-		-		74		-		-		74
Consumer		-		-		-		-		-		-
Sub-total:	$	386	$	807	$	1,279	$	-	$	-	$	2,472
Total Gross Loans	$	1,390,613	$	20,368	$	39,072	$	-	$	-	$	1,450,053

_________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Note 6 - Loans Receivable and Allowance for Loan Losses (Continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2015. (In Thousands):

	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Originated loans:
Residential one-to-four family	$	108,259	$	4,857	$	4,049	$	-	$	-	$	117,165
Commercial and multi-family		966,229		1,868		14,731		-		-		982,828
Construction		63,292		716		-		-		-		64,008
Commercial business(1)		64,645		2,018		3,677		-		-		70,340
Home equity(2)		29,694		714		829		-		-		31,237
Consumer		1,198		30		1,137		-		-		2,365
Sub-total:	$	1,233,317	$	10,203	$	24,423	$	-	$	-	$	1,267,943
Acquired loans recorded at fair value:
Residential one-to-four family	$	58,362	$	2,574	$	6,651	$	-	$	-		67,587
Commercial and multi-family		72,770		1,780		4,758		-		-		79,308
Construction		-		-		-		-		-		-
Commercial business(1)		4,281		-		-		-		-		4,281
Home equity(2)		17,571		382		898		-		-		18,851
Consumer		263		-		-		-		-		263
Sub-total:	$	153,247	$	4,736	$	12,307	$	-	$	-	$	170,290
Acquired loans with deteriorated credit:
Residential one-to-four family	$	147	$	279	$	1,048	$	-	$	-		1,474
Commercial and multi-family		137		532		-		-		-		669
Construction		-		-		-		-		-		-
Commercial business(1)		-		-		167		-		-		167
Home equity(2)		-		-		71		-		-		71
Consumer		-		-		-		-		-		-
Sub-total:	$	284	$	811	$	1,286	$	-	$	-	$	2,381
Total Gross Loans	$	1,386,848	$	15,750	$	38,016	$	-	$	-	$	1,440,614

________

(1) Includes business lines of credit.

(2) Includes home equity lines of credit.

Inclusions in the Consolidated Statements of Financial Condition

	March 31,		December 31,
	2016		2015
Unpaid principal balance	$	170,655	$	183,046
Recorded investment		162,837		172,671

Accretable And Non-Accretable Discount on Loans Acquired

The following table presents changes in the accretable discount on loans acquired for the three months ended March 31, 2016 and 2015. (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	53,612	$	70,522
Accretion		(3,928)		(3,671)
Net Reclassification from Non-Accretable Difference		195		83
Balance, End of Period	$	49,879	$	66,934

The following table presents changes in the non-accretable yield on loans acquired for the three months ended March 31, 2016 and 2015. (In Thousands):

	Three Months Ended March 31,
	2016		2015
Balance, Beginning of Period	$	3,041	$	3,773
Loans Sold		-		-
Net Reclassification to Accretable Difference		(195)		(83)
Balance, End of Period	$	2,846	$	3,690

XML

Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Values of Financial Instruments [Abstract]

Fair Value Measurements, Recurring

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016:
Securities available for sale — Residential Mortgage Backed Securities	$	9,639	$	-	$	9,639	$	-
As of December 31, 2015:
Securities available for sale — Residential mortgage-backed securities	$	9,623	$	-	$	9,623	$	-

Fair Value Measurements, Nonrecurring

			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
As of March 31, 2016
Impaired Loans	$	15,997	$	-	$	-	$	15,997
Other real estate owned	$	2,021	$	-	$	-	$	2,021
As of December 31, 2015:
Impaired Loans	$	15,239	$	-	$	-	$	15,239
Other real estate owned	$	1,564	$	-	$	-	$	1,564

Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
March 31, 2016:
Impaired Loans	$	15,997	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	2,021	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
December 31, 2015:
Impaired Loans	$	15,239	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%
Other real estate owned	$	1,564	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
				Liquidation expenses (3)	0%-10%

(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.  The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

(3) Includes qualitative adjustments by management and estimated liquidation expenses.

Carrying Values and Estimated Fair Values of Financial Instruments

		As of March 31, 2016
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	210,196	$	210,196	$	210,196	$		$
Interest-earning time deposits		980		980		980
Securities available for sale		9,493		9,639				9,639
Loans held for sale		648		667				667
Loans receivable, net		1,429,549		1,464,202						1,464,202
FHLB of New York stock, at cost		11,161		11,161				11,161
Accrued interest receivable		5,981		5,981				5,981
Financial liabilities:
Deposits		1,350,420		1,352,216		717,421		634,795
Borrowings		210,000		214,059				214,059
Subordinated debentures		4,124		4,204				4,204
Accrued interest payable		1,113		1,113				1,113

		As of December 31, 2015
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	132,635	$	132,635	$	132,635	$	-	$	-
Interest-earning time deposits		1,238		1,238		1,238		-		-
Securities available for sale		9,623		9,623		-		9,623		-
Securities held to maturity		-		-		-		-		-
Loans held for sale		1,983		2,004		-		2,004		-
Loans receivable, net		1,420,118		1,443,739		-		-		1,443,739
FHLB of New York stock, at cost		10,711		10,711		-		10,711		-
Accrued interest receivable		5,595		5,595		-		5,595		-
Financial liabilities:
Deposits		1,273,929		1,270,267		653,763		616,504		-
Borrowings		200,000		202,948		-		202,948		-
Subordinated debentures		4,124		4,185		-		4,185		-
Accrued interest payable		1,053		1,053		-		1,053		-

XML

Pension and Postretirement Plans (Narrative) (Details) - USD ($)			3 Months Ended				12 Months Ended
	Dec. 02, 2015	Mar. 07, 2014	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Apr. 28, 2011
Defined Benefit Plan Disclosure [Line Items]
Retirement benefit as percentage of compensation			75.00%
Shares authorized for issuance								900,000
Expected future compensation expense, unexercised options			$ 846,070		$ 587,244
Expected future compensation expense, weighted average period for recognition			7 years 9 months 15 days		8 years 2 months 27 days
Shares underlying unexercised options			341,300
Directors [Member]
Defined Benefit Plan Disclosure [Line Items]
Options granted	120,000	110,000
Vesting period							10 years
Directors [Member] | Tranche 1 - 10 [Member]
Defined Benefit Plan Disclosure [Line Items]
Vesting percentage							10.00%
Employees [Member]
Defined Benefit Plan Disclosure [Line Items]
Options granted				32,500		6,000
Employees [Member] | Tranche 1 - 5 [Member]
Defined Benefit Plan Disclosure [Line Items]
Vesting percentage							20.00%

XML

Pension and Other Postretirement Plans (Schedule Of Periodic Pension And SERP) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 82	$ 64
Expected return on plan assets	(131)	(108)
Amortization of net loss	36	18
Net Periodic Pension Cost	(13)	(26)
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	3	3
Net Periodic Pension Cost	$ 3	$ 3

XML

Pension and Other Postretirement Plans (Summary of Stock Option Activity) (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Pension and Other Postretirement Plans [Abstract]
Outstanding, Beginning Balance - Number of Option Shares	417,000	289,720	289,720
Outstaning, Ending Balance - Number of Option Shares	417,000	289,720	417,000	289,720
Granted and exercisable stock options	75,700	74,220
Outstanding, Range of Exercise Prices, Lower Range Limit (per share)	$ 8.93	$ 8.93	$ 8.93	$ 8.93
Outstanding, Range of Exercise Prices, Upper Range Limit (per share)	15.65	18.41	15.65	15.65
Outstanding, Beginning Balance - Weighted Average Exercise Price	10.75	11.18	11.18
Outstanding, Ending Balance - Weighted Average Exercise Price	$ 10.75	$ 11.18	$ 10.75	$ 11.18

XML

Net Income per Common Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income per Common Share [Abstract]
Anti-dilutive outstanding options	0	127,000

XML

Net Income per Common Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income per Common Share [Abstract]
Net income available to common stockholders	$ 1,801	$ 1,644
Basic earnings per share - Income available to Common stockholders	1,801	1,644
Diluted earnings per share- Income available to Common stockholders	$ 1,801	$ 1,644
Basic earnings per share- Income available to Common stockholders, Shares	11,217	8,400
Effect of dilutive securities: Stock options: Shares	2	21
Diluted earnings per share- Income available to Common stockholders, Shares	11,219	8,421
Earnings Per Share, Basic	$ 0.16	$ 0.20
Earnings Per Share, Diluted	$ 0.16	$ 0.20

XML

Securities Available for Sale (Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Securities Available for Sale [Abstract]
Residential mortgage-backed securities: Due after five years through ten years, Amortized Cost	$ 3,401	$ 3,418
Residential mortgage-backed securities: Due after ten years, Amortized Cost	6,092	6,238
Residential mortgage-backed securities: Amortized Cost	9,493	9,656
Residential mortgage-backed securities: Due after five years through ten years, Gross Unrealized Gains	71	13
Residential mortgage-backed securities, Due after ten years, Gross Unrealized Gains	125	89
Residential mortgage-backed securities: Gross Unrealized Gains	196	102
Residential mortgage-backed securities: Due after five years through ten years, Gross Unrealized Losses	29	73
Residential mortgage-backed securities: Due after ten years, Gross Unrealized Losses	21	62
Residential mortgage-backed securities: Gross Unrealized Losses	50	135
Residential mortgage-backed securities: Due after five years through ten years, Fair Value	3,443	3,358
Residential mortgage-backed securities: Due after ten years, Fair Value	6,196	6,265
Residential mortgage-backed securities: Fair Value	$ 9,639	$ 9,623

XML

Securities Available For Sale (Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value ) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months - Fair Value		$ 1,163
More than 12 Months - Fair Value	$ 3,747	3,686
Total - Fair Value	3,747	4,849
Less than 12 Months - Unrealized Losses		4
More than 12 Months - Unrealized Losses	50	131
Total - Unrealized Losses	50	135
Residential mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months - Fair Value		1,163
More than 12 Months - Fair Value	3,747	3,686
Total - Fair Value	3,747	4,849
Less than 12 Months - Unrealized Losses		4
More than 12 Months - Unrealized Losses	50	131
Total - Unrealized Losses	$ 50	$ 135

XML

Loans Receivable and Allowance for Loan Losses (Narrative) (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		$ 1,450,053,000	$ 1,440,614,000	$ 1,313,739,000
Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		39,072,000	38,016,000
Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		20,368,000	15,750,000
Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		0
Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	74,545,000	74,788,000	65,207,000
Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		$ 1,060,509,000	$ 1,062,805,000	$ 897,855,000

[1] Includes business lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Recorded Investments in Loans Receivable) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		$ 1,450,053	$ 1,440,614	$ 1,313,739
Deferred loan fees, net		(2,336)	(2,454)
Allowance for loan losses		(18,168)	(18,042)
Total deductions from gross loans		(20,504)	(20,496)
Net Loans		1,429,549	1,420,118
Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		198,275	186,226	214,383
Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,060,509	1,062,805	897,855
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		65,666	64,008	79,498
Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	74,545	74,788	65,207
Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	49,194	50,159	53,597
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,864	2,628	3,199
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,287,216	1,267,943	1,110,437
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		131,988	117,165	133,862
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		987,568	982,828	804,160
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		65,666	64,008	79,498
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	69,370	70,340	58,791
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	30,967	31,237	31,556
Originated Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,657	2,365	2,570
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		160,365	170,290	200,314
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		64,821	67,587	78,933
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		72,172	79,308	92,569
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	5,012	4,281	6,222
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	18,153	18,851	21,961
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		207	263	629
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		2,472	2,381	2,988
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,466	1,474	1,588
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		769	669	1,126
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	163	167	194
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	$ 74	$ 71	$ 80

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Allowance for Credit Losses on Financing Receivables) (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		$ 18,042	$ 16,151	$ 16,151
Allowance for loan losses: Charge-offs		73	208	462
Allowance for loan losses: Recoveries		10	65	73
Allowance for loan losses: Provisions		189	720	2,280
Allowance for loan losses: Ending Balance		18,168	16,728	18,042
Loans receivables: Ending balance		1,450,053	1,313,739	1,440,614
Loans receivables: Ending balance: individually evaluated for impairment		52,146	48,901	51,084
Loans receivables: Ending balance: collectively evaluated for impairment		1,397,907	1,264,838	1,389,530
Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		2,424	2,845	2,845
Allowance for loan losses: Charge-offs		67	4	67
Allowance for loan losses: Provisions		136	(135)	(354)
Allowance for loan losses: Ending Balance		2,493	2,706	2,424
Loans receivables: Ending balance		198,275	214,383	186,226
Loans receivables: Ending balance: individually evaluated for impairment		19,946	21,855	20,479
Loans receivables: Ending balance: collectively evaluated for impairment		178,329	192,528	165,747
Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		11,674	10,153	10,153
Allowance for loan losses: Charge-offs			10	10
Allowance for loan losses: Recoveries			64	70
Allowance for loan losses: Provisions		(76)	344	1,461
Allowance for loan losses: Ending Balance		11,598	10,551	11,674
Loans receivables: Ending balance		1,060,509	897,855	1,062,805
Loans receivables: Ending balance: individually evaluated for impairment		20,873	17,826	21,882
Loans receivables: Ending balance: collectively evaluated for impairment		1,039,636	880,029	1,040,923
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		722	1,080	1,080
Allowance for loan losses: Provisions		111	(24)	(358)
Allowance for loan losses: Ending Balance		833	1,056	722
Loans receivables: Ending balance		65,666	79,498	64,008
Loans receivables: Ending balance: individually evaluated for impairment		2,984
Loans receivables: Ending balance: collectively evaluated for impairment		62,682	79,498	64,008
Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[1]	1,753	1,109	1,109
Allowance for loan losses: Charge-offs	[1]	3	194	279
Allowance for loan losses: Provisions	[1]	(84)	338	923
Allowance for loan losses: Ending Balance	[1]	1,666	1,253	1,753
Loans receivables: Ending balance	[1]	74,545	65,207	74,788
Loans receivables: Ending balance: individually evaluated for impairment	[1]	4,266	5,181	4,370
Loans receivables: Ending balance: collectively evaluated for impairment	[1]	70,279	60,026	70,418
Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[2]	422	394	394
Allowance for loan losses: Charge-offs	[2]	3		106
Allowance for loan losses: Recoveries	[2]	10	1	3
Allowance for loan losses: Provisions	[2]	(40)	(30)	131
Allowance for loan losses: Ending Balance	[2]	389	365	422
Loans receivables: Ending balance	[2]	49,194	53,597	50,159
Loans receivables: Ending balance: individually evaluated for impairment	[2]	2,814	2,369	2,890
Loans receivables: Ending balance: collectively evaluated for impairment	[2]	46,380	51,228	47,269
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		879	449	449
Allowance for loan losses: Provisions		46	180	430
Allowance for loan losses: Ending Balance		925	629	879
Loans receivables: Ending balance		1,864	3,199	2,628
Loans receivables: Ending balance: individually evaluated for impairment		1,263	1,670	1,463
Loans receivables: Ending balance: collectively evaluated for impairment		601	1,529	1,165
Unallocated [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		168	121	121
Allowance for loan losses: Provisions		96	47	47
Allowance for loan losses: Ending Balance		264	168	168
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		17,637	15,251	15,251
Allowance for loan losses: Charge-offs			32	90
Allowance for loan losses: Recoveries			64	70
Allowance for loan losses: Provisions		202	825	2,406
Allowance for loan losses: Ending Balance		17,839	16,108	17,637
Loans receivables: Ending balance		1,287,216	1,110,437	1,267,943
Loans receivables: Ending balance: individually evaluated for impairment		33,411	28,452	30,923
Loans receivables: Ending balance: collectively evaluated for impairment		1,253,805	1,081,985	1,237,020
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		2,107	2,364	2,364
Allowance for loan losses: Provisions		131	(54)	(257)
Allowance for loan losses: Ending Balance		2,238	2,310	2,107
Loans receivables: Ending balance		131,988	133,862	117,165
Loans receivables: Ending balance: individually evaluated for impairment		9,052	10,731	9,120
Loans receivables: Ending balance: collectively evaluated for impairment		122,936	123,131	108,045
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		11,643	10,028	10,028
Allowance for loan losses: Charge-offs			10	10
Allowance for loan losses: Recoveries			64	70
Allowance for loan losses: Provisions		(68)	305	1,555
Allowance for loan losses: Ending Balance		11,575	10,387	11,643
Loans receivables: Ending balance		987,568	804,160	982,828
Loans receivables: Ending balance: individually evaluated for impairment		14,630	9,971	14,681
Loans receivables: Ending balance: collectively evaluated for impairment		972,938	794,189	968,147
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		722	1,080	1,080
Allowance for loan losses: Provisions		111	(24)	(358)
Allowance for loan losses: Ending Balance		833	1,056	722
Loans receivables: Ending balance		65,666	79,498	64,008
Loans receivables: Ending balance: individually evaluated for impairment		2,984
Loans receivables: Ending balance: collectively evaluated for impairment		62,682	79,498	64,008
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[1]	1,749	876	876
Allowance for loan losses: Charge-offs	[1]		22	80
Allowance for loan losses: Provisions	[1]	(87)	388	953
Allowance for loan losses: Ending Balance	[1]	1,662	1,242	1,749
Loans receivables: Ending balance	[1]	69,370	58,791	70,340
Loans receivables: Ending balance: individually evaluated for impairment	[1]	4,103	4,987	4,203
Loans receivables: Ending balance: collectively evaluated for impairment	[1]	65,267	53,804	66,137
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[2]	369	333	333
Allowance for loan losses: Provisions	[2]	(27)	(17)	36
Allowance for loan losses: Ending Balance	[2]	342	316	369
Loans receivables: Ending balance	[2]	30,967	31,556	31,237
Loans receivables: Ending balance: individually evaluated for impairment	[2]	1,379	1,093	1,456
Loans receivables: Ending balance: collectively evaluated for impairment	[2]	29,588	30,463	29,781
Originated Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		879	449	449
Allowance for loan losses: Provisions		46	180	430
Allowance for loan losses: Ending Balance		925	629	879
Loans receivables: Ending balance		1,657	2,570	2,365
Loans receivables: Ending balance: individually evaluated for impairment		1,263	1,670	1,463
Loans receivables: Ending balance: collectively evaluated for impairment		394	900	902
Originated Loans [Member] | Unallocated [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		168	121	121
Allowance for loan losses: Provisions		96	47	47
Allowance for loan losses: Ending Balance		264	168	168
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		337	577	577
Allowance for loan losses: Charge-offs		73	4	173
Allowance for loan losses: Recoveries		10	1	3
Allowance for loan losses: Provisions		(12)	(51)	(70)
Allowance for loan losses: Ending Balance		262	523	337
Loans receivables: Ending balance		160,365	200,314	170,290
Loans receivables: Ending balance: individually evaluated for impairment		16,502	17,713	18,023
Loans receivables: Ending balance: collectively evaluated for impairment		143,863	182,601	152,267
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		270	417	417
Allowance for loan losses: Charge-offs		67	4	67
Allowance for loan losses: Provisions		5	(77)	(80)
Allowance for loan losses: Ending Balance		208	336	270
Loans receivables: Ending balance		64,821	78,933	67,587
Loans receivables: Ending balance: individually evaluated for impairment		9,428	9,536	9,885
Loans receivables: Ending balance: collectively evaluated for impairment		55,393	69,397	57,702
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		17	102	102
Allowance for loan losses: Provisions		(7)	39	(85)
Allowance for loan losses: Ending Balance		10	141	17
Loans receivables: Ending balance		72,172	92,569	79,308
Loans receivables: Ending balance: individually evaluated for impairment		5,713	6,981	6,775
Loans receivables: Ending balance: collectively evaluated for impairment		66,459	85,588	72,533
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Charge-offs	[1]	3
Allowance for loan losses: Provisions	[1]	3
Loans receivables: Ending balance	[1]	5,012	6,222	4,281
Loans receivables: Ending balance: collectively evaluated for impairment	[1]	5,012	6,222	4,281
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[2]	50	58	58
Allowance for loan losses: Charge-offs	[2]	3		106
Allowance for loan losses: Recoveries	[2]	10	1	3
Allowance for loan losses: Provisions	[2]	(13)	(13)	95
Allowance for loan losses: Ending Balance	[2]	44	46	50
Loans receivables: Ending balance	[2]	18,153	21,961	18,851
Loans receivables: Ending balance: individually evaluated for impairment	[2]	1,361	1,196	1,363
Loans receivables: Ending balance: collectively evaluated for impairment	[2]	16,792	20,765	17,488
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivables: Ending balance		207	629	263
Loans receivables: Ending balance: collectively evaluated for impairment		207	629	263
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		68	323	323
Allowance for loan losses: Charge-offs			172	199
Allowance for loan losses: Provisions		(1)	(54)	(56)
Allowance for loan losses: Ending Balance		67	97	68
Loans receivables: Ending balance		2,472	2,988	2,381
Loans receivables: Ending balance: individually evaluated for impairment		2,233	2,736	2,138
Loans receivables: Ending balance: collectively evaluated for impairment		239	252	243
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		47	64	64
Allowance for loan losses: Provisions			(4)	(17)
Allowance for loan losses: Ending Balance		47	60	47
Loans receivables: Ending balance		1,466	1,588	1,474
Loans receivables: Ending balance: individually evaluated for impairment		1,466	1,588	1,474
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance		14	23	23
Allowance for loan losses: Provisions		(1)		(9)
Allowance for loan losses: Ending Balance		13	23	14
Loans receivables: Ending balance		769	1,126	669
Loans receivables: Ending balance: individually evaluated for impairment		530	874	426
Loans receivables: Ending balance: collectively evaluated for impairment		239	252	243
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[1]	4	233	233
Allowance for loan losses: Charge-offs	[1]		172	199
Allowance for loan losses: Provisions	[1]		(50)	(30)
Allowance for loan losses: Ending Balance	[1]	4	11	4
Loans receivables: Ending balance	[1]	163	194	167
Loans receivables: Ending balance: individually evaluated for impairment	[1]	163	194	167
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses: Beginning Balance	[2]	3	3	3
Allowance for loan losses: Ending Balance	[2]	3	3	3
Loans receivables: Ending balance	[2]	74	80	71
Loans receivables: Ending balance: individually evaluated for impairment	[2]	$ 74	$ 80	$ 71

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Non-accruing Loans) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		$ 23,958	$ 23,447
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		16,937	13,880
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		2,869	2,603
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		9,703	9,782
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		2,984
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	[1]	726	718
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	[2]	655	777
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		6,737	9,282
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		5,211	5,592
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		855	3,025
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	[2]	671	665
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans		284	285
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	[1]	163	167
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	[2]	$ 121	$ 118

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		$ 32,388		$ 32,122
Recorded Investment - With an allowance recorded		19,758		18,962
Recorded Investment - Total		52,146		51,084
Unpaid Principal Balance - With no related allowance recorded		35,639		35,078
Unpaid Principal Balance - With an allowance recorded		20,560		19,846
Unpaid Principal Balance - Total		56,199		54,924
Related Allowance		3,761		3,723
Average Recorded Investment - With no related allowance recorded		32,258	$ 25,914
Average Recorded Investment - With an allowance recorded		19,362	23,386
Interest Income Recognized - With no related allowance recorded		210	204
Interest Income Recognized - With an allowance recorded		113	191
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		19,605		17,238
Recorded Investment - With an allowance recorded		13,806		13,685
Unpaid Principal Balance - With no related allowance recorded		21,557		18,642
Unpaid Principal Balance - With an allowance recorded		14,103		14,062
Related Allowance		3,411		3,383
Average Recorded Investment - With no related allowance recorded		18,423	13,146
Average Recorded Investment - With an allowance recorded		13,746	15,802
Interest Income Recognized - With no related allowance recorded		143	102
Interest Income Recognized - With an allowance recorded		80	114
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		3,430		3,136
Recorded Investment - With an allowance recorded		5,622		5,984
Unpaid Principal Balance - With no related allowance recorded		3,720		3,199
Unpaid Principal Balance - With an allowance recorded		5,654		5,993
Related Allowance		536		594
Average Recorded Investment - With no related allowance recorded		3,283	2,404
Average Recorded Investment - With an allowance recorded		5,803	8,984
Interest Income Recognized - With no related allowance recorded		20	10
Interest Income Recognized - With an allowance recorded		16	85
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		9,962		10,709
Recorded Investment - With an allowance recorded		4,668		3,972
Unpaid Principal Balance - With no related allowance recorded		10,102		10,934
Unpaid Principal Balance - With an allowance recorded		4,738		3,972
Related Allowance		1,111		1,069
Average Recorded Investment - With no related allowance recorded		10,336	7,179
Average Recorded Investment - With an allowance recorded		4,320	2,568
Interest Income Recognized - With no related allowance recorded		70	44
Interest Income Recognized - With an allowance recorded		54
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		2,984
Unpaid Principal Balance - With no related allowance recorded		2,984
Average Recorded Investment - With no related allowance recorded		1,492
Interest Income Recognized - With no related allowance recorded		41
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded	[1]	2,092		2,123
Recorded Investment - With an allowance recorded	[1]	2,011		2,080
Unpaid Principal Balance - With no related allowance recorded	[1]	3,559		3,183
Unpaid Principal Balance - With an allowance recorded	[1]	2,201		2,445
Related Allowance	[1]	834		841
Average Recorded Investment - With no related allowance recorded	[1]	2,108	3,021
Average Recorded Investment - With an allowance recorded	[1]	2,046	1,941
Interest Income Recognized - With no related allowance recorded	[1]	3	43
Interest Income Recognized - With an allowance recorded	[1]	9	22
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded	[2]	1,137		1,270
Recorded Investment - With an allowance recorded	[2]	242		186
Unpaid Principal Balance - With no related allowance recorded	[2]	1,192		1,326
Unpaid Principal Balance - With an allowance recorded	[2]	247		189
Related Allowance	[2]	8		3
Average Recorded Investment - With no related allowance recorded	[2]	1,204	542
Average Recorded Investment - With an allowance recorded	[2]	214	548
Interest Income Recognized - With no related allowance recorded	[2]	9	5
Interest Income Recognized - With an allowance recorded	[2]	1	7
Originated Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With an allowance recorded		1,263		1,463
Unpaid Principal Balance - With an allowance recorded		1,263		1,463
Related Allowance		922		876
Average Recorded Investment - With an allowance recorded		1,363	1,761
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		10,713		12,913
Recorded Investment - With an allowance recorded		5,789		5,110
Unpaid Principal Balance - With no related allowance recorded		11,286		13,626
Unpaid Principal Balance - With an allowance recorded		6,089		5,416
Related Allowance		350		340
Average Recorded Investment - With no related allowance recorded		11,814	10,212
Average Recorded Investment - With an allowance recorded		5,451	7,309
Interest Income Recognized - With no related allowance recorded		66	64
Interest Income Recognized - With an allowance recorded		32	76
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		5,816		7,646
Recorded Investment - With an allowance recorded		3,612		2,239
Unpaid Principal Balance - With no related allowance recorded		6,159		8,082
Unpaid Principal Balance - With an allowance recorded		3,860		2,402
Related Allowance		242		219
Average Recorded Investment - With no related allowance recorded		6,731	4,572
Average Recorded Investment - With an allowance recorded		2,926	5,088
Interest Income Recognized - With no related allowance recorded		51	10
Interest Income Recognized - With an allowance recorded		25	49
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		4,252		4,383
Recorded Investment - With an allowance recorded		1,461		2,392
Unpaid Principal Balance - With no related allowance recorded		4,321		4,483
Unpaid Principal Balance - With an allowance recorded		1,463		2,496
Related Allowance		66		85
Average Recorded Investment - With no related allowance recorded		4,318	4,914
Average Recorded Investment - With an allowance recorded		1,927	1,766
Interest Income Recognized - With no related allowance recorded		12	50
Interest Income Recognized - With an allowance recorded		1	22
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded	[2]	645		884
Recorded Investment - With an allowance recorded	[2]	716		479
Unpaid Principal Balance - With no related allowance recorded	[2]	806		1,061
Unpaid Principal Balance - With an allowance recorded	[2]	766		518
Related Allowance	[2]	42		36
Average Recorded Investment - With no related allowance recorded	[2]	765	726
Average Recorded Investment - With an allowance recorded	[2]	598	455
Interest Income Recognized - With no related allowance recorded	[2]	3	4
Interest Income Recognized - With an allowance recorded	[2]	6	5
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		2,070		1,971
Recorded Investment - With an allowance recorded		163		167
Unpaid Principal Balance - With no related allowance recorded		2,796		2,810
Unpaid Principal Balance - With an allowance recorded		368		368
Average Recorded Investment - With no related allowance recorded		2,021	2,556
Average Recorded Investment - With an allowance recorded		165	275
Interest Income Recognized - With no related allowance recorded		1	38
Interest Income Recognized - With an allowance recorded		1	1
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		1,466		1,474
Unpaid Principal Balance - With no related allowance recorded		2,093		2,101
Average Recorded Investment - With no related allowance recorded		1,470	1,502
Average Recorded Investment - With an allowance recorded			90
Interest Income Recognized - With no related allowance recorded			22
Interest Income Recognized - With an allowance recorded			1
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded		530		426
Unpaid Principal Balance - With no related allowance recorded		563		574
Average Recorded Investment - With no related allowance recorded		478	876
Interest Income Recognized - With no related allowance recorded			14
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With an allowance recorded	[1]	163		167
Unpaid Principal Balance - With an allowance recorded	[1]	368		368
Average Recorded Investment - With no related allowance recorded	[1]		97
Average Recorded Investment - With an allowance recorded	[1]	165	185
Interest Income Recognized - With no related allowance recorded	[1]		2
Interest Income Recognized - With an allowance recorded	[1]	1
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment - With no related allowance recorded	[2]	74		71
Unpaid Principal Balance - With no related allowance recorded	[2]	140		$ 135
Average Recorded Investment - With no related allowance recorded	[2]	73	$ 81
Interest Income Recognized - With no related allowance recorded	[2]	$ 1

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Troubled Debt Restructurings on Financing Receivables) (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2016 USD ($) loan	Mar. 31, 2015 USD ($) loan	Dec. 31, 2015 USD ($) loan
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		91		86
Number of Contracts | loan		2	3
Amount		$ 29,944		$ 28,510
Pre-Modification Outstanding Recorded Investments		299	$ 688
Post-Modification Outstanding Recorded Investments		$ 299	$ 702
Number of Contracts, Subsequent Default | loan		2	1
Recorded Investment, Subsequent Default		$ 1,136	$ 222
Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		57		54
Amount		$ 18,514		$ 18,038
Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		34		32
Amount		$ 11,430		$ 10,472
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Amount		$ 0
Originated Loans [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		34		28
Number of Contracts | loan		1
Amount		$ 13,894		$ 12,367
Pre-Modification Outstanding Recorded Investments		71
Post-Modification Outstanding Recorded Investments		$ 71
Number of Contracts, Subsequent Default | loan		1
Recorded Investment, Subsequent Default		$ 61
Originated Loans [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		16		13
Amount		$ 6,513		$ 6,384
Originated Loans [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		18		15
Amount		$ 7,381		$ 5,983
Originated Loans [Member] | Residential One-to-Four Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		9		7
Number of Contracts | loan		1
Amount		$ 2,701		$ 2,669
Pre-Modification Outstanding Recorded Investments		71
Post-Modification Outstanding Recorded Investments		$ 71
Originated Loans [Member] | Residential One-to-Four Family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		7		6
Amount		$ 1,833		$ 1,845
Originated Loans [Member] | Residential One-to-Four Family [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		2		1
Amount		$ 868		$ 824
Originated Loans [Member] | Commercial & Multi-family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		18		13
Amount		$ 9,134		$ 7,567
Originated Loans [Member] | Commercial & Multi-family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		4		4
Amount		$ 3,137		$ 3,270
Originated Loans [Member] | Commercial & Multi-family [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		14		9
Amount		$ 5,997		$ 4,297
Originated Loans [Member] | Construction [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan				0
Amount		$ 0		$ 0
Originated Loans [Member] | Commercial Business [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]	3		3
Amount	[1]	$ 1,465		$ 1,483
Originated Loans [Member] | Commercial Business [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]	2		1
Amount	[1]	$ 1,005		$ 778
Originated Loans [Member] | Commercial Business [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]	1		2
Amount	[1]	$ 460		$ 705
Originated Loans [Member] | Home Equity [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	4		5
Amount	[2]	$ 594		$ 648
Number of Contracts, Subsequent Default | loan	[2]	1
Recorded Investment, Subsequent Default	[2]	$ 61
Originated Loans [Member] | Home Equity [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	3		2
Amount	[2]	$ 538		$ 491
Originated Loans [Member] | Home Equity [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	1		3
Amount	[2]	$ 56		$ 157
Originated Loans [Member] | Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan				0
Amount				$ 0
Acquired Loans Recorded At Fair Value [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		49		49
Number of Contracts | loan		1	3
Amount		$ 13,110		$ 13,183
Pre-Modification Outstanding Recorded Investments		228	$ 688
Post-Modification Outstanding Recorded Investments		$ 228	$ 702
Number of Contracts, Subsequent Default | loan		1	1
Recorded Investment, Subsequent Default		$ 1,075	$ 222
Acquired Loans Recorded At Fair Value [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		35		34
Amount		$ 9,345		$ 8,979
Acquired Loans Recorded At Fair Value [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		14		15
Amount		$ 3,765		$ 4,204
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		29		29
Number of Contracts | loan			2
Amount		$ 6,915		$ 7,006
Pre-Modification Outstanding Recorded Investments			$ 465
Post-Modification Outstanding Recorded Investments			$ 479
Number of Contracts, Subsequent Default | loan		1	1
Recorded Investment, Subsequent Default		$ 1,075	$ 222
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		17		16
Amount		$ 3,952		$ 3,604
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		12		13
Amount		$ 2,963		$ 3,402
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		14		14
Amount		$ 5,467		$ 5,445
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		13		13
Amount		$ 4,885		$ 4,863
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		1		1
Amount		$ 582		$ 582
Acquired Loans Recorded At Fair Value [Member] | Construction [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan				0
Amount		0		$ 0
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]			0
Amount	[1]	$ 0		$ 0
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	6		6
Number of Contracts | loan	[2]	1	1
Amount	[2]	$ 728		$ 732
Pre-Modification Outstanding Recorded Investments	[2]	228	$ 223
Post-Modification Outstanding Recorded Investments	[2]	$ 228	$ 223
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	5		5
Amount	[2]	$ 508		$ 512
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	1		1
Amount	[2]	$ 220		$ 220
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan				0
Amount		$ 0		$ 0
Acquired Loans With Deteriorated Credit [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		8		9
Amount		$ 2,940		$ 2,960
Number of Contracts, Subsequent Default | loan		0
Recorded Investment, Subsequent Default		$ 0
Acquired Loans With Deteriorated Credit [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		6		7
Amount		$ 2,656		$ 2,675
Acquired Loans With Deteriorated Credit [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		2		2
Amount		$ 284		$ 285
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		5		5
Amount		$ 2,093		$ 2,101
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		5		5
Amount		$ 2,093		$ 2,101
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		1		2
Amount		$ 563		$ 574
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member] | Accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan		1		2
Amount		$ 563		$ 574
Acquired Loans With Deteriorated Credit [Member] | Construction [Member]
Financing Receivable, Modifications [Line Items]
Amount		$ 0
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]	1		1
Amount	[1]	$ 163		$ 167
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[1]	1		1
Amount	[1]	$ 163		$ 167
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	1		1
Amount	[2]	$ 121		$ 118
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member] | Non-accrual [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | loan	[2]	1		1
Amount	[2]	$ 121		$ 118
Acquired Loans With Deteriorated Credit [Member] | Consumer [Member]
Financing Receivable, Modifications [Line Items]
Amount		$ 0

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Delinquency Status of Total Loans Receivable) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		$ 57,717	$ 49,444
Current		1,392,336	1,391,170
Total Loans Receivable		1,450,053	1,440,614
Loans Receivable >90 Days and Accruing		1,095	586
30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		33,895	28,743
60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		7,010	6,185
Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		16,812	14,516
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		46,564	35,863
Current		1,240,652	1,232,080
Total Loans Receivable		1,287,216	1,267,943
Loans Receivable >90 Days and Accruing		1,095	578
Originated Loans [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		28,124	22,089
Originated Loans [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		5,901	4,561
Originated Loans [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		12,539	9,213
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		6,405	5,858
Current		125,583	111,307
Total Loans Receivable		131,988	117,165
Loans Receivable >90 Days and Accruing		0	0
Originated Loans [Member] | Residential One-to-Four Family [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		1,965	3,495
Originated Loans [Member] | Residential One-to-Four Family [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		2,568	786
Originated Loans [Member] | Residential One-to-Four Family [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		1,872	1,577
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		34,633	22,320
Current		952,935	960,508
Total Loans Receivable		987,568	982,828
Loans Receivable >90 Days and Accruing		1,095	578
Originated Loans [Member] | Commercial & Multi-family [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		24,764	12,491
Originated Loans [Member] | Commercial & Multi-family [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		3,078	3,362
Originated Loans [Member] | Commercial & Multi-family [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		6,791	6,467
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		3,317	4,757
Current		62,349	59,251
Total Loans Receivable		65,666	64,008
Loans Receivable >90 Days and Accruing		0	0
Originated Loans [Member] | Construction [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		333	4,677
Originated Loans [Member] | Construction [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			80
Originated Loans [Member] | Construction [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		2,984
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	1,519	1,593
Current	[1]	67,851	68,747
Total Loans Receivable	[1]	69,370	70,340
Loans Receivable >90 Days and Accruing	[1]	0	0
Originated Loans [Member] | Commercial Business [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	667	909
Originated Loans [Member] | Commercial Business [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	199
Originated Loans [Member] | Commercial Business [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	653	684
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	683	1,335
Current	[2]	30,284	29,902
Total Loans Receivable	[2]	30,967	31,237
Loans Receivable >90 Days and Accruing	[2]	0	0
Originated Loans [Member] | Home Equity [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	388	517
Originated Loans [Member] | Home Equity [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	56	333
Originated Loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	239	485
Originated Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		7
Current		1,650	2,365
Total Loans Receivable		1,657	2,365
Loans Receivable >90 Days and Accruing		0	0
Originated Loans [Member] | Consumer [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		7
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		10,990	13,162
Current		149,375	157,128
Total Loans Receivable		160,365	170,290
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans Recorded At Fair Value [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		5,771	6,410
Acquired Loans Recorded At Fair Value [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		1,109	1,624
Acquired Loans Recorded At Fair Value [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		4,110	5,128
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		6,244	7,163
Current		58,577	60,424
Total Loans Receivable		64,821	67,587
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		2,636	3,340
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		603	311
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		3,005	3,512
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		3,633	4,511
Current		68,539	74,797
Total Loans Receivable		72,172	79,308
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		2,684	1,913
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		163	1,313
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		786	1,285
Acquired Loans Recorded At Fair Value [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	49	418
Current	[1]	4,963	3,863
Total Loans Receivable	[1]	5,012	4,281
Loans Receivable >90 Days and Accruing	[1]	0	0
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	49	418
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	1,064	1,058
Current	[2]	17,089	17,793
Total Loans Receivable	[2]	18,153	18,851
Loans Receivable >90 Days and Accruing	[2]	0	0
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	402	727
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | 60 to 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	343
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[2]	319	331
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			12
Current		207	251
Total Loans Receivable		207	263
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			12
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		163	419
Current		2,309	1,962
Total Loans Receivable		2,472	2,381
Loans Receivable >90 Days and Accruing		0	8
Acquired Loans With Deteriorated Credit [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			244
Acquired Loans With Deteriorated Credit [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		163	175
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current		1,466	1,474
Total Loans Receivable		1,466	1,474
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			252
Current		769	417
Total Loans Receivable		769	669
Loans Receivable >90 Days and Accruing		0	8
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member] | 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			244
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due			8
Acquired Loans With Deteriorated Credit [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable >90 Days and Accruing		0	0
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	163	167
Total Loans Receivable	[1]	163	167
Loans Receivable >90 Days and Accruing	[1]	0	0
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member] | Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	[1]	163	167
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	[2]	74	71
Total Loans Receivable	[2]	74	71
Loans Receivable >90 Days and Accruing	[2]	0	0
Acquired Loans With Deteriorated Credit [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable >90 Days and Accruing		$ 0	$ 0

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Financing Receivable Credit Quality Indicators) (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		$ 1,450,053,000	$ 1,440,614,000	$ 1,313,739,000
Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,390,613,000	1,386,848,000
Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		20,368,000	15,750,000
Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		39,072,000	38,016,000
Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		0
Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		198,275,000	186,226,000	214,383,000
Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,060,509,000	1,062,805,000	897,855,000
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		65,666,000	64,008,000	79,498,000
Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	74,545,000	74,788,000	65,207,000
Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	49,194,000	50,159,000	53,597,000
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,864,000	2,628,000	3,199,000
Originated Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,287,216,000	1,267,943,000	1,110,437,000
Originated Loans [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,245,950,000	1,233,317,000
Originated Loans [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		14,703,000	10,203,000
Originated Loans [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		26,563,000	24,423,000
Originated Loans [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		131,988,000	117,165,000	133,862,000
Originated Loans [Member] | Residential One-to-Four Family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		121,699,000	108,259,000
Originated Loans [Member] | Residential One-to-Four Family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		6,278,000	4,857,000
Originated Loans [Member] | Residential One-to-Four Family [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		4,011,000	4,049,000
Originated Loans [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		987,568,000	982,828,000	804,160,000
Originated Loans [Member] | Commercial & Multi-family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		968,829,000	966,229,000
Originated Loans [Member] | Commercial & Multi-family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		4,655,000	1,868,000
Originated Loans [Member] | Commercial & Multi-family [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		14,084,000	14,731,000
Originated Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		65,666,000	64,008,000	79,498,000
Originated Loans [Member] | Construction [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		61,807,000	63,292,000
Originated Loans [Member] | Construction [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		875,000	716,000
Originated Loans [Member] | Construction [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		2,984,000
Originated Loans [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	69,370,000	70,340,000	58,791,000
Originated Loans [Member] | Commercial Business [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	63,671,000	64,645,000
Originated Loans [Member] | Commercial Business [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	2,110,000	2,018,000
Originated Loans [Member] | Commercial Business [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	3,589,000	3,677,000
Originated Loans [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	30,967,000	31,237,000	31,556,000
Originated Loans [Member] | Home Equity [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	29,452,000	29,694,000
Originated Loans [Member] | Home Equity [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	757,000	714,000
Originated Loans [Member] | Home Equity [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	758,000	829,000
Originated Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,657,000	2,365,000	2,570,000
Originated Loans [Member] | Consumer [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		492,000	1,198,000
Originated Loans [Member] | Consumer [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		28,000	30,000
Originated Loans [Member] | Consumer [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,137,000	1,137,000
Acquired Loans Recorded At Fair Value [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		160,365,000	170,290,000	200,314,000
Acquired Loans Recorded At Fair Value [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		144,277,000	153,247,000
Acquired Loans Recorded At Fair Value [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		4,858,000	4,736,000
Acquired Loans Recorded At Fair Value [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		11,230,000	12,307,000
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		64,821,000	67,587,000	78,933,000
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		55,732,000	58,362,000
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		2,824,000	2,574,000
Acquired Loans Recorded At Fair Value [Member] | Residential One-to-Four Family [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		6,265,000	6,651,000
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		72,172,000	79,308,000	92,569,000
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		66,591,000	72,770,000
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,875,000	1,780,000
Acquired Loans Recorded At Fair Value [Member] | Commercial & Multi-family [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		3,706,000	4,758,000
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	5,012,000	4,281,000	6,222,000
Acquired Loans Recorded At Fair Value [Member] | Commercial Business [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	5,012,000	4,281,000
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	18,153,000	18,851,000	21,961,000
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	16,735,000	17,571,000
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	159,000	382,000
Acquired Loans Recorded At Fair Value [Member] | Home Equity [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	1,259,000	898,000
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		207,000	263,000	629,000
Acquired Loans Recorded At Fair Value [Member] | Consumer [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		207,000	263,000
Acquired Loans With Deteriorated Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		2,472,000	2,381,000	2,988,000
Acquired Loans With Deteriorated Credit [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		386,000	284,000
Acquired Loans With Deteriorated Credit [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		807,000	811,000
Acquired Loans With Deteriorated Credit [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,279,000	1,286,000
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,466,000	1,474,000	1,588,000
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		147,000	147,000
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		277,000	279,000
Acquired Loans With Deteriorated Credit [Member] | Residential One-to-Four Family [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		1,042,000	1,048,000
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		769,000	669,000	1,126,000
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member] | Pass [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		239,000	137,000
Acquired Loans With Deteriorated Credit [Member] | Commercial & Multi-family [Member] | Special Mention [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross		530,000	532,000
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	163,000	167,000	194,000
Acquired Loans With Deteriorated Credit [Member] | Commercial Business [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[1]	163,000	167,000
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	74,000	71,000	$ 80,000
Acquired Loans With Deteriorated Credit [Member] | Home Equity [Member] | Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, gross	[2]	$ 74,000	$ 71,000

[1] Includes business lines of credit.

[2] Includes home equity lines of credit.

XML

Loans Receivable and Allowance for Loan Losses (Inclusions in the Consolidated Statements of Financial Condition) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loans Receivable and Allowance for Loan Losses [Abstract]
Unpaid principle balance	$ 170,655	$ 183,046
Recorded investment	$ 162,837	$ 172,671

XML

Loans Receivable and Allowance for Loan Losses (Accretable And Non-Accretable Discount on Loans Acquired) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Loans Receivable and Allowance for Loan Losses [Abstract]
Beginning Balance	$ 53,612	$ 70,522
Accretion	(3,928)	(3,671)
Net Reclassifications from Non-Accretable Difference	195	83
Ending Balance	49,879	66,934
Non-accretable yield, beginning balance	3,041	3,773
Net Reclassifications to Accretable Difference	(195)	(83)
Non-accretable yield, ending balance	$ 2,846	$ 3,690

XML

Fair Values of Financial Instruments (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers between fair value hierarchy	$ 0	$ 0
Impaired loans	19,758,000		$ 18,962,000
Valuation allowance	3,761,000		3,723,000
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	19,800,000		19,000,000
Valuation allowance	$ 3,800,000		$ 3,790,000

XML

Fair Values of Financial Instruments (Fair Value Measurements, Recurring) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 9,639	$ 9,623
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 9,639	$ 9,623
Significant Other Observable Inputs (Level 2) [Member] | Residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 9,639	$ 9,623
Significant Unobservable Inputs (Level 3) [Member] | Residential mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale

XML

Fair Values of Financial Instruments (Fair Value Measurements, Nonrecurring) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans	$ 15,997	$ 15,239
Impaired Loans [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans
Impaired Loans [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans
Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans	$ 15,997	$ 15,239
Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 2,021	$ 1,564
Other Real Estate Owned [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned
Other Real Estate Owned [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned
Other Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 2,021	$ 1,564

XML

Fair Values of Financial Instruments (Quantitative Information about Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans		$ 15,997	$ 15,239
Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans		15,997	15,239
Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		2,021	1,564
Other Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		2,021	1,564
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans		$ 15,997	$ 15,239
Valuation Techniques	[1]	Appraisal of collateral
Unobservable Input	[2]	Appraisal adjustments
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		0.00%	0.00%
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		10.00%	10.00%
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned		$ 2,021	$ 1,564
Valuation Techniques	[1]	Appraisal of collateral
Unobservable Input	[2]	Appraisal adjustments
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		0.00%	0.00%
Appraisal of Collateral [Member] | Appraisal Adjustments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		10.00%	10.00%
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	[3]	Liquidation expenses
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		0.00%	0.00%
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		10.00%	10.00%
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable Input	[3]	Liquidation expenses
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		0.00%	0.00%
Appraisal of Collateral [Member] | Liquidation Expenses [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range		10.00%	10.00%

[1] Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

[2] Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

[3] Includes qualitative adjustments by management and estimated liquidation expenses.

XML

Fair Values of Financial Instruments (Carrying Values and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 210,196	$ 132,635
Interest-earning time deposits	980	1,238
Securities available for sale	9,493	9,623
Loans held for sale	648	1,983
Loans receivable, net	1,429,549	1,420,118
FHLB of New York stock, at cost	11,161	10,711
Accrued interest receivable	5,981	5,595
Deposits	1,350,420	1,273,929
Borrowings	210,000	200,000
Subordinated debentures	4,124	4,124
Accrued interest payable	1,113	1,053
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	210,196	132,635
Interest-earning time deposits	980	1,238
Securities available for sale	9,639	9,623
Loans held for sale	667	2,004
Loans receivable, net	1,464,202	1,443,739
FHLB of New York stock, at cost	11,161	10,711
Accrued interest receivable	5,981	5,595
Deposits	1,352,216	1,270,267
Borrowings	214,059	202,948
Subordinated debentures	4,204	4,185
Accrued interest payable	1,113	1,053
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	210,196	132,635
Interest-earning time deposits	980	1,238
Deposits	717,421	653,763
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	9,639	9,623
Loans held for sale	667	2,004
FHLB of New York stock, at cost	11,161	10,711
Accrued interest receivable	5,981	5,595
Deposits	634,795	616,504
Borrowings	214,059	202,948
Subordinated debentures	4,204	4,185
Accrued interest payable	1,113	1,053
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, net	$ 1,464,202	$ 1,443,739