10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

ý	Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	For the Fiscal Year Ended December 31, 2016

OR

¨	Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	For the transition period from _______________ to _________________

Commission File No. 001-35791

Northfield Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Delaware	80-0882592
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
581 Main Street, Suite 810 Woodbridge, New Jersey	07095
(Address of Principal Executive Offices)	Zip Code

(732) 499-7200

(Registrant’s telephone number, including area code)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	The NASDAQ Stock Market, LLC

Securities Registered Pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes  ¨    No  ý

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes  ¨    No  ý

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  ý    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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes  ý   No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer, or a smaller reporting company.  See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one): 

Large accelerated filer	¨	Accelerated filer	ý
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     ý

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, computed by reference to price at which the common equity was last sold on June 30, 2016 was $615,976,344.

As of February 28, 2017, there were outstanding 48,843,879 shares of the registrant’s common stock.

DOCUMENTS INCORPORATED BY REFERENCE

Certain portions of the registrant’s Definitive Proxy Statement (the 2017 Proxy Statement) for the 2017 Annual Meeting of the Stockholders to be held May 24, 2017, will be incorporated by reference in Part III. The 2017 Proxy Statement will be filed within 120 days of December 31, 2016.

NORTHFIELD BANCORP, INC.

ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

	Part I.	Page
Item 1.	Business	1
Item 1A.	Risk Factors	34
Item 1B.	Unresolved Staff Comments	43
Item 2.	Properties	43
Item 3.	Legal Proceedings	43
Item 4.	Mine Safety Disclosures	43
	Part II.
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	44
Item 6.	Selected Financial Data	47
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	49
Item 7A.	Quantitative and Qualitative Disclosures about Market Risk	66
Item 8.	Financial Statements and Supplementary Data	66
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	126
Item 9A.	Controls and Procedures	126
Item 9B.	Other Information	126
	Part III.
Item 10.	Directors, Executive Officers and Corporate Governance	127
Item 11.	Executive Compensation	127
Item 12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	127
Item 13	Certain Relationships and Related Transactions, and Director Independence	127
Item 14	Principal Accounting Fees and Services	127
	Part IV.
Item 15	Exhibits, Financial Statement Schedules	128
Item 16	Form 10-K Summary	130
Signatures		131

PART I

ITEM 1. BUSINESS

Forward-Looking Statements

This Annual Report contains certain “forward-looking statements,”which can be identified by the use of such words as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” and words of similar meaning.  These forward-looking statements include, but are not limited to:

• statements of our goals, intentions, and expectations;

• statements regarding our business plans, prospects, growth and operating strategies;

• statements regarding the quality of our loan and investment portfolios; and

• estimates of our risks and future costs and benefits.

These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are beyond our control.  In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:   

• general economic conditions, either nationally or in our market areas, that are worse than expected;

• competition among depository and other financial institutions;

• inflation and changes in the interest rate environment that reduce our margins and yields or reduce the fair value of financial instruments;

• adverse changes in the securities or credit markets;

• changes in laws, tax policies, or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements;

• our ability to manage operations in the current economic conditions;

• our ability to enter new markets successfully and capitalize on growth opportunities;

• our ability to successfully integrate acquired entities;

• changes in consumer spending, borrowing and savings habits;

• changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, or the Securities and Exchange Commission, or the Public Company Accounting Oversight Board;

• cyber attacks, computer viruses and other technological risks that may breach the security of our websites or other systems to obtain unauthorized access to confidential information and destroy data or disable our systems;

• changes in our organization, compensation, and benefit plans;

• changes in the level of government support for housing finance;

• significant increases in our loan losses; and

• changes in the financial condition, results of operations, or future prospects of issuers of securities that we own.

Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements.  Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements after the date of this Form 10-K, whether as a result of new information, future events or otherwise.

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Northfield Bancorp, Inc.

Northfield Bancorp, Inc., a Delaware corporation (the “Company”), was organized in June 2010 and is the holding company for Northfield Bank. Northfield Bancorp, Inc. uses the support staff and offices of Northfield Bank and reimburses Northfield Bank for these services.  If Northfield Bancorp, Inc. expands or changes its business in the future, it may hire its own employees. In the future, we may pursue other business activities, including mergers and acquisitions, investment alternatives and diversification of operations.

Northfield Bancorp, Inc. is subject to comprehensive regulation and examination by the Board of Governors of the Federal Reserve System.

Northfield Bancorp, Inc.’s main office is located at 581 Main Street, Suite 810, Woodbridge, New Jersey 07095, and its telephone number at this address is (732) 499-7200. The Company's electronic filings with the Securities and Exchange Commission, including copies of annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to these filings, if any, are available, free of charge, as soon as practicable after they are filed with the Securities and Exchange Commission under the Investor Relations section of the Company's website, www.eNorthfield.com. Information on this website is not and should not be considered to be a part of this annual report. 

Northfield Bank

Northfield Bank was organized in 1887 and is a federally chartered savings bank. Northfield Bank conducts business from its home office located in Staten Island, New York, its operations center located in Woodbridge, New Jersey, its 37 additional branch offices located in New York and New Jersey, and a non-branch office located in Brooklyn, New York. The branch offices are located in Staten Island, Brooklyn, and the New Jersey counties of Hunterdon, Mercer, Middlesex, and Union.

On January 8, 2016, the Company completed its acquisition of Hopewell Valley Community Bank (“Hopewell Valley”), which, after purchase accounting adjustments, added $508.5 million to total assets, $342.6 million to loans, and $456.2 million to deposits, and nine branch offices in the Hunterdon and Mercer counties of New Jersey. Total consideration paid for Hopewell Valley was $55.4 million, consisting of $13.7 million in cash and 2,707,381 shares of common stock valued at $41.7 million based upon the $15.41 per share closing price of Northfield Bancorp, Inc.'s common stock on January 8, 2016.

Northfield Bank’s principal business consists of originating multifamily and other commercial real estate loans, purchasing investment securities, including mortgage-backed securities and corporate bonds, and, to a lesser extent, depositing funds in other financial institutions. Northfield Bank also offers construction and land loans, commercial and industrial loans, and home equity loans and lines of credit, as well as acquires pools of loans from time to time. Northfield Bank offers a variety of deposit accounts, including certificates of deposit, passbook, statement, and money market savings accounts, transaction deposit accounts (negotiable orders of withdrawal (NOW) accounts and non-interest bearing demand accounts), individual retirement accounts, and, to a lesser extent, when it is deemed cost effective, brokered deposits. Deposits are Northfield Bank’s primary source of funds for its lending and investing activities. Northfield Bank also borrows funds, principally through Federal Home Loan Bank (“FHLB”) of New York advances and repurchase agreements with brokers.  Northfield Bank owns 100% of NSB Services Corp., which, in turn, owns 100% of the voting common stock of a real estate investment trust, NSB Realty Trust, that holds primarily mortgage loans.  In addition, Northfield Bank refers its customers to independent third parties that provide non-deposit investment products and one-to-four family residential mortgage products.

Northfield Bank is subject to comprehensive regulation and examination by the Office of the Comptroller of the Currency (“OCC”).

Northfield Bank’s main office is located at 1731 Victory Boulevard, Staten Island, New York 10314, and its telephone number at this address is (718) 448-1000. Its website address is www.eNorthfield.com. Information on this website is not and should not be considered to be a part of this annual report.

Market Area and Competition

We have been in business since March 1, 1887, offering a variety of financial products and services to meet the needs of the communities we serve. Our commercial and retail banking network consists of multiple delivery channels including full-service banking offices, automated teller machines, telephone, and internet banking capabilities, including mobile banking and remote deposit capture. We consider our competitive products and pricing, branch network, customer service, and financial position, as our major strengths in attracting and retaining customers in our market areas.

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We face intense competition in our market areas both in making loans and attracting deposits. Our market areas have a high concentration of financial institutions, including large money center and regional banks, community banks, and credit unions. We face additional competition for deposits from money market funds, brokerage firms, mutual funds, and insurance companies. Some of our competitors offer products and services that we do not offer, such as trust services and private banking.

Our deposit sources are primarily concentrated in the communities surrounding our branch offices in the New York counties of Richmond (Staten Island) and Kings (Brooklyn), and Hunterdon, Mercer, Middlesex and Union counties in New Jersey.  As of June 30, 2016 (the latest date for which information is publicly available), we ranked fifth in deposit market share for Federal Deposit Insurance Corporation (FDIC) Insured Institutions in Staten Island with a 10.61% market share.  As of that date, we had a 0.68% deposit market share in Brooklyn, New York, and a combined deposit market share of 1.32% in the Hunterdon, Mercer, Middlesex and Union counties in New Jersey.

The following table sets forth the unemployment rates for the communities we serve and the national average for the last five years, as published by the Bureau of Labor Statistics:

	Unemployment Rate At December 31,
	2016		2015		2014		2013		2012
Hunterdon County, NJ	3.0	%	3.2	%	4.2	%	4.6	%	6.2	%
Mercer County, NJ	3.5		3.6		5.1		5.7		7.6
Union County, NJ	4.2		4.5		6.2		6.9		8.8
Middlesex County, NJ	3.5		3.8		5.2		6.1		7.9
Richmond County, NY	4.4		5.0		6.2		7.8		9.1
Kings County, NY	4.5		5.2		6.4		8.3		9.5
National Average	4.7		5.0		5.6		6.7		7.9

The following table sets forth median household income at December 31, 2016 and 2015, for the communities we serve, as published by the U.S. Census Bureau:

	Median Household Income
	At December 31,
	2016	2015
Hunterdon County, NJ	$113,676	$106,925
Mercer County, NJ	73,343	72,375
Union County, NJ	67,257	69,222
Middlesex County, NJ	79,140	78,734
Richmond County, NY	71,706	72,559
Kings County, NY	49,716	46,965

Lending Activities

Our principal lending activity is the origination of multifamily real estate loans and, to a lesser extent, other commercial real estate loans (typically on office, retail, and industrial properties), in New York City, New Jersey, and eastern Pennsylvania. We also originate one-to-four family residential real estate loans (non-owner occupied investment properties), construction and land loans, commercial and industrial loans, and home equity loans and lines of credit.

Loan Originations, Purchases, Sales, Participations, and Servicing.  All loans we originate for our portfolio are underwritten pursuant to our policies and procedures or are properly approved as exceptions to our policies and procedures. In the fourth quarter of 2015 we discontinued an origination assistance agreement with a third-party underwriter to originate residential real estate loans that conformed to secondary market underwriting standards, whereby the third-party underwriter would process and underwrite one-to-four family residential real estate loans that we funded at origination, and we elected either to portfolio the loans or sell them to the third-party. Our ability to originate fixed- or adjustable-rate loans is dependent on the relative customer demand for such loans, which is affected by various factors including current market interest rates as well as anticipated future market interest rates. Our loan origination activity may be adversely affected by changes in economic

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conditions that result in decreased loan demand. Our home equity loans and lines of credit typically are generated through direct mail advertisements, newspaper advertisements, online applications through our website, and referrals from branch personnel. A significant portion of our multifamily real estate loans and other commercial real estate loans are generated with the use of third-party loan brokers. Our commercial and industrial loans typically are generated through our loan officers and, to a lesser extent, referrals from accountants and other professional contacts. We generally retain in our portfolio all loans we originate and have historically only sold non-performing loans as part of a package of loans that were sold through the use of a third-party broker, or individual loans that were sold to individual third parties.  

Loans acquired in an assisted transaction with the FDIC in 2011, and in the mergers with Flatbush Federal Bancorp, Inc. (2012) and Hopewell Valley (2016), with deteriorated credit quality, herein referred to as purchased credit-impaired (“PCI”) loans, have a carrying value of $30.5 million at December 31, 2016.  The accounting and reporting for these loans differs substantially from those loans originated and classified as held-for-investment. For purposes of reporting, discussion and analysis, management has classified its loan portfolio into three categories: (1) PCI loans, which are held-for-investment, and initially valued at estimated fair value on the date of acquisition, with no initial related allowance for loan losses, (2) originated loans held-for-investment, which are carried at amortized cost, less net charge-offs and the allowance for loan losses, and (3) acquired loans with no evidence of credit deterioration, which are held-for-investment, and initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses. PCI and acquired loans are periodically evaluated for impairment after their initial valuation and, if determined to be impaired, could have an associated allowance for loan losses.

Loan Approval Procedures and Authority.  Our lending activities follow written, non-discriminatory, underwriting standards approved by our board of directors.  The loan approval process is intended to assess the borrower’s ability to repay the loan and the value of the collateral that will secure the loan, if any. To assess the borrower’s ability to repay, we review the borrower’s income and credit history, and information on the historical and projected income and expenses of the borrower.

In underwriting a loan secured by real property, we require an appraisal of the property by an independent licensed or certified appraiser approved by our board of directors. The appraisals of multifamily and other commercial real estate properties are also reviewed by an independent third-party appraiser. We review and inspect properties before disbursement of funds during the term of a construction loan. Generally, management obtains updated appraisals when a loan is deemed impaired. These appraisals may be more limited than those prepared for the underwriting of a new loan. In addition, when we acquire other real estate owned, we generally obtain a current appraisal to substantiate the net carrying value of the asset.

The board of directors maintains a loan committee consisting of bank directors to: periodically review and recommend for approval our policies related to lending as prepared by management; approve or reject loan applicants meeting certain criteria; and monitor loan quality including concentrations and certain other aspects of our lending functions, as applicable.  Certain Northfield Bank officers, at levels beginning with vice president, have individual lending authority that is approved by the board of directors.

Loan Portfolio Composition.  The following table sets forth the composition of our loan portfolio, by type of loan, at the dates indicated, excluding loans held for sale of $471,000 and $5.4 million, at December 31, 2013 and 2012, respectively. There were no loans held for sale at December 31, 2016, 2015, and 2014.

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	At December 31,
	2016					2015					2014					2013					2012
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
	(Dollars in thousands)
Loans originated:
Real estate loans:
Multifamily	$	1,506,335		50.86	%	$	1,318,461		55.66	%	$	1,072,193		55.31	%	$	870,951		58.61	%	$	610,129		49.18	%
Commercial	412,667			13.93		402,073			16.97		390,288			20.13	%	340,174			22.89		315,450			25.43
One-to-four family residential	105,968			3.58		98,332			4.15		74,401			3.84	%	64,753			4.36		64,733			5.22
Home equity and lines of credit	65,437			2.21		61,413			2.59		54,533			2.81	%	46,231			3.11		33,573			2.71
Construction and land	14,065			0.47		18,652			0.79		21,412			1.10	%	14,152			0.95		23,243			1.87
Commercial and industrial loans	31,906			1.08		25,554			1.08		12,945			0.67	%	10,162			0.68		14,786			1.19
Other loans	1,497			0.05		2,256			0.10		2,157			0.12	%	2,310			0.16		1,830			0.15
Total loans originated	2,137,875			72.18		1,926,741			81.34		1,627,929			83.98	%	1,348,733			90.76		1,063,744			85.75
PCI loans	30,498			1.03		33,115			1.40		44,816			2.31	%	59,468			4.00		75,349			6.07
Loans acquired:
Real estate loans:
One-to-four family residential	317,639			10.73		330,672			13.96		234,478			12.10		60,262			4.06		78,237			6.31
Multifamily	215,389			7.27		64,779			2.73		18,844			0.97		3,930			0.26		5,763			0.46
Commercial	188,001			6.35		11,160			0.47		11,999			0.62		13,254			0.89		17,053			1.38
Home equity and lines of credit	25,522			0.86		2,404			0.10		—			—		—			—		—			—
Construction and land	20,887			0.71		—			—		364			0.02		371			0.03		380			0.03
Commercial and industrial loans	25,443			0.86		—			—		—			—		—			—		—			—
Other loans	359			0.01		—			—		—			—		—			—		—			—
Total loans acquired	793,240			26.79		409,015			17.26		265,685			13.71		77,817			5.24		101,433			8.18
Total loans	$	2,961,613		100.00	%	$	2,368,871		100.00	%	$	1,938,430		100.00	%	$	1,486,018		100.00	%	$	1,240,526		100.00	%
Other items:
Deferred loan costs (fees), net	6,471					4,844					4,565					3,458					2,456
Allowance for loan losses	(24,595		)			(24,770		)			(26,292		)			(26,037		)			(26,424		)
Net loans held-for-investment	$	2,943,489				$	2,348,945				$	1,916,703				$	1,463,439				$	1,216,558

At December 31, 2016, PCI loans consisted of approximately 30% commercial real estate loans and 48% commercial and industrial loans, with the remaining balance in residential and home equity loans.  At December 31, 2015, these loans consisted of approximately 28% commercial real estate loans and 52% commercial and industrial loans, with the remaining balance in residential and home equity loans.  At December 31, 2014, these loans consisted of approximately 33% commercial real estate loans and 53% commercial and industrial loans, with the remaining balance in residential and home equity loans. At December 31, 2013, these loans consisted of approximately 37% commercial real estate loans and 47% commercial and industrial loans, with the remaining balance in residential and home equity loans. At December 31, 2012, these loans consisted of approximately 39% commercial real estate loans and 52% commercial and industrial loans, with the remaining balance in residential and home equity loans.

Loan Portfolio Maturities.  The following table summarizes the scheduled repayments of our loan portfolio and weighted average contractual rate by loan type at December 31, 2016.  Demand loans (loans having no stated repayment schedule or maturity) and overdraft loans are reported as being due in the year ending December 31, 2017. Maturities are based on the final contractual payment date and do not reflect the effect of prepayments, repricing and scheduled principal amortization.

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	Originated Loans
	Multifamily				Commercial Real Estate				One-to-Four Family Residential				Home Equity and Lines of Credit
	Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate
	(Dollars in thousands)
Due during the years ending December 31,
2017	$	—	—	%	$	673	7.00	%	$	723	5.55	%	$	589	3.40	%
2018	241		4.75	%	15,167		5.04	%	607		4.77	%	617		3.25	%
2019	—		—	%	1,629		5.20	%	417		5.34	%	801		3.37	%
2020 to 2021	473		6.25	%	5,156		4.80	%	398		5.77	%	2,491		3.65	%
2022 to 2026	81,911		3.83	%	21,514		4.46	%	2,233		4.59	%	11,138		3.53	%
2027 to 2031	55,070		4.44	%	66,313		4.56	%	12,399		4.04	%	16,831		3.81	%
2032 and beyond	1,368,640		3.56	%	302,215		4.35	%	89,191		3.57	%	32,970		3.31	%
Total	$	1,506,335	3.61	%	$	412,667	4.43	%	$	105,968	3.68	%	$	65,437	3.49	%
	Construction and Land				Commercial and Industrial				Other
	Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate
	(Dollars in thousands)
Due during the years ending December 31,
2017	$	4,016	4.97	%	$	12,378	4.29	%	$	1,235	0.17	%
2018	3,337		5.34	%	345		5.42	%	54		5.55	%
2019	—		—	%	2,335		4.42	%	—		—	%
2020 to 2021	—		—	%	7,393		3.64	%	30		10.73	%
2022 to 2026	119		4.83	%	8,825		4.68	%	75		5.96	%
2027 to 2031	533		6.49	%	401		4.74	%	—		—	%
2032 and beyond	6,060		4.04	%	229		8.21	%	103		4.25	%
Total	$	14,065	4.71	%	$	31,906	4.30	%	$	1,497	1.15	%
	Acquired Loans
	One-to-Four-Family Residential				Multifamily				Commercial Real Estate				Home Equity and Lines of Credit
	Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate
	(Dollars in thousands)
Due during the years ending December 31,
2017	$	3,627	4.65	%	$	—	—	%	$	2,270	5.05	%	$	422	3.27	%
2018	2,193		4.75	%	40		7.01	%	1,623		4.74	%	842		3.38	%
2019	2,348		5.18	%	6,396		3.35	%	5,315		4.80	%	1,150		3.76	%
2020 to 2021	1,675		6.58	%	141		7.07	%	12,629		4.58	%	1,494		3.50	%
2022 to 2026	3,651		5.36	%	200,168		3.15	%	34,881		4.34	%	6,430		3.86	%
2027 to 2031	10,404		4.06	%	4,259		3.71	%	19,399		4.80	%	11,303		3.83	%
2032 and beyond	293,741		2.81	%	4,385		4.47	%	111,884		5.11	%	3,881		2.49	%
Total	$	317,639	2.95	%	$	215,389	3.20	%	$	188,001	4.89	%	$	25,522	3.59	%

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	Acquired Loans (continued)
	Commercial and Industrial				Construction and Land				Other
	Amount		Weighted Average Rate		Amount		Weighted Average Rate		Amount		Weighted Average Rate
	(Dollars in thousands)
Due during the years ending December 31,
2017	$	8,155	4.16	%	$	10,395	4.87	%	$	265	5.39	%
2018	3,202		4.71	%	488		4.75	%	42		9.61	%
2019	1,199		4.51	%	—		—	%	46		11.56	%
2020 to 2021	3,423		4.69	%	—		—	%	6		15.75	%
2022 to 2026	5,039		5.02	%	4,564		4.77	%	—		—	%
2027 to 2031	533		4.91	%	—		—	%	—		—	%
2032 and beyond	3,892		5.41	%	5,440		4.87	%	—		—	%
Total	$	25,443	4.69	%	$	20,887	4.85	%	$	359	6.85	%

	PCI loans				Total Loans
	Amount		Weighted Average Rate(1)		Amount		Weighted Average Rate
	(Dollars in thousands)
Due during the years ending December 31,
2017	$	5,019	7.22	%	$	49,767	4.74	%
2018	752		12.30	%	29,550		5.10	%
2019	1,894		11.80	%	23,530		4.91	%
2020 to 2021	3,403		13.99	%	38,712		5.30	%
2022 to 2026	3,083		6.89	%	383,631		3.64	%
2027 to 2031	2,847		7.38	%	200,292		4.42	%
2032 and beyond	13,500		9.18	%	2,236,131		3.68	%
Total	$	30,498	9.23	%	$	2,961,613	3.79	%
(1) Represents estimated accretable yield.

At December 31, 2016, the Company had a total of $2.24 billion in loans due to mature in 2032 and beyond, of which $57.3 million, or 2.56%, are fixed rate loans.

The following table sets forth fixed- and adjustable-rate loans at December 31, 2016, that are contractually due after December 31, 2017:

	Due After December 31, 2017
	Fixed Rate		Adjustable Rate		Total
	(Dollars in thousands)
Real estate loans:
Multifamily	$	98,861	$	1,407,474	$	1,506,335
Commercial	41,959		370,035		411,994
One-to-four family residential	27,919		77,326		105,245
Construction and land	92		9,957		10,049
Home equity and lines of credit	33,363		31,485		64,848
Commercial and industrial loans	11,937		7,591		19,528
Other loans	262		—		262
PCI loans	3,397		22,082		25,479
Acquired loans	285,635		482,471		768,106
Total loans	$	503,425	$	2,408,421	$	2,911,846

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Multifamily Real Estate Loans. Originated loans secured by multifamily properties totaled approximately $1.51 billion, or 50.9% of our total loan portfolio, at December 31, 2016. We include in this category properties having more than four residential units and a business or businesses where the majority of space is utilized for residential purposes which we refer to as mixed-use.  At December 31, 2016, we had 865 originated multifamily real estate loans, with an average loan balance of approximately $1.7 million, although there are a large number of loans with balances substantially greater than this average. At December 31, 2016, our largest multifamily real estate loan had a principal balance of $30.9 million, was secured by four apartment buildings located in Staten Island, New York, and was performing in accordance with its original contractual terms. Substantially all of our multifamily real estate loans are secured by properties located in our primary market areas and eastern Pennsylvania.

Our multifamily real estate loans typically amortize over 20 to 30 years with negotiated interest rates that adjust after an initial five-, seven-, or 10-year period, and every five years thereafter. Adjustable-rate loans originated subsequent to 2008 generally have been indexed to the five-year London Interbank Offered Rate (“LIBOR”) swaps rate as published in the Federal Reserve Statistical Release adjusted for a negotiated margin. Beginning in October 2016, the Federal Reserve Statistical Release no longer publishes the LIBOR rate and we now use Intercontinental Exchange (“ICE”) market data reports to obtain LIBOR rates. We also originate, to a lesser extent, 10- to 15-year fixed-rate, fully amortizing loans. In general, our multifamily real estate loans have interest rate floors equal to the interest rate on the date the loan is originated, and have prepayment penalties should the loan be prepaid in the initial five-, seven-, or 10-year term. In addition, our multi-family loans may contain an initial interest-only period which typically does not exceed two years; however, these loans are underwritten on a fully amortizing basis. Loans that we have purchased typically adjust to different indexes.

In underwriting multifamily real estate loans, we consider a number of factors, including the ratio of the projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120%, computed after deduction for a vacancy factor and property expenses we deem appropriate), the age and condition of the collateral, the financial resources and income of the sponsor, and the sponsor’s experience in owning or managing similar properties. Multifamily real estate loans generally are originated in amounts up to 75% of the appraised value of the property securing the loan. We require title insurance, fire and extended coverage casualty insurance, and, if appropriate, flood insurance up to the regulatory required maximum amount of $500,000, in order to protect our security interest in the underlying property.  Although a significant portion of our multifamily real estate loans are referred to us by third-party loan brokers, we underwrite all multifamily real estate loans in accordance with our underwriting standards. Due to competitor considerations, as is customary in our marketplace, we typically do not obtain personal guarantees of the principals on multifamily real estate loans, except when warranted.

The repayment of loans secured by multifamily real estate properties typically depends on the successful operation of the property. If the cash flow from the property is reduced, or interest payments on the loan increase, the borrower’s ability to repay the loan may be impaired.

In a ruling that was contrary to a 1996 advisory opinion from the New York State Division of Housing and Community Renewal that owners of housing units who benefited from the receipt of “J-51” tax incentives under the Rent Stabilization Law are eligible to decontrol apartments, the New York State Court of Appeals ruled on October 22, 2009, that residential housing units located in two major housing complexes in New York City had been illegally decontrolled by the current and previous property owners. This ruling may subject other property owners that have previously or are currently benefiting from a J-51 tax incentive to litigation, possibly resulting in a significant reduction to property cash flows. Based on management’s assessment of our multifamily loan portfolio, we believe that only one loan may be affected by the ruling regarding J-51.  The loan had a principal balance of $6.7million at December 31, 2016, and was performing in accordance with its original contractual terms at that date.    

Commercial Real Estate Loans.  Originated commercial real estate loans (other than multifamily real estate loans) totaled $412.7 million, or 13.9% of our loan portfolio as of December 31, 2016.  At December 31, 2016, our commercial real estate loan portfolio consisted of 391 loans with an average loan balance of approximately $1.1 million, although there are a large number of loans with balances substantially greater than this average.  At December 31, 2016, our largest commercial real estate loan had a principal balance of $21.1 million, was secured by a mall with two small retail buildings located in New Jersey, and was performing in accordance with its original contractual terms.  Substantially all of our commercial real estate loans are secured by properties located in our primary market areas.

The following table sets forth the property types collateralizing our commercial real estate loans as of December 31, 2016:

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	At December 31, 2016
	Amount		Percent
	(Dollars in thousands)
Mixed use (majority of space is non-residential)	$	117,866	28.6	%
Retail	104,478		25.3
Office buildings	73,528		17.8
Warehousing	21,437		5.2
Accommodations	22,365		5.4
Services	21,464		5.2
Healthcare facilities	14,909		3.6
Manufacturing	7,299		1.8
Restaurant	7,221		1.7
Schools/day care	5,667		1.4
Recreational	3,512		0.9
Other	12,921		3.1
	$	412,667	100.0	%

Our commercial real estate loans typically amortize over 20 to 25 years with negotiated interest rates that adjust after an initial five-, seven-, or 10-year period, and every five years thereafter. Adjustable rate loans generally have been indexed to the five-year LIBOR swaps rate as published in the Federal Reserve Statistical Release, adjusted for a negotiated margin. Beginning in October 2016, the Federal Reserve Statistical Release no longer publishes the LIBOR rate and we now use ICE market data reports to obtain LIBOR rates. We also originate, to a lesser extent, 10- to 15-year fixed-rate, fully amortizing loans. In general, our commercial real estate loans have interest rate floors equal to the interest rate on the date the loan is originated, and generally have prepayment penalties if the loan is repaid in the initial five-, seven-, or 10-year term. Loans that we have acquired and purchased typically adjust to different indexes.

In underwriting commercial real estate loans, we generally lend up to the lesser of 75% of either the property’s appraised value or purchase price.  Our policies permit the origination of certain single-use property types but at lower loan-to-appraised value ratios. We base our decision to lend primarily on the economic viability of the property and the creditworthiness of the borrower. In evaluating a proposed commercial real estate loan, we emphasize the ratio of the property’s projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 125%, computed after deduction for a vacancy factor and property expenses we deem appropriate). Personal guarantees of the principals are typically obtained. We require title insurance, fire and extended coverage casualty insurance, and, if appropriate, flood insurance up to the regulatory required maximum amount of $500,000, in order to protect our security interest in the underlying property. Although a significant portion of our commercial real estate loans were referred to us by third-party loan brokers, we underwrite all commercial real estate loans in accordance with our underwriting standards.

Commercial real estate loans generally carry higher interest rates than multifamily residential real estate loans. Commercial real estate loans also generally have greater credit risk compared to multifamily residential real estate loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers.  Changes in economic conditions that are not in the control of the borrower or lender may affect the value of the collateral for the loan or the future cash flow of the property. Additionally, any decline in real estate values may be more pronounced for commercial real estate than for multifamily residential properties.

Construction and Land Loans. At December 31, 2016, originated construction and land loans totaled $14.1 million, or 0.5% of total loans receivable, and the additional un-advanced portion of these construction loans totaled $3.3 million. At December 31, 2016, we had 18 construction and land loans with an average loan balance of approximately $783,000 and our largest construction and land loan had a principal balance of $3.9 million and was secured by land.  At December 31, 2016, this loan was performing in accordance with its original contractual terms.

Our construction and land loans typically are interest-only loans with interest rates that are tied to the prime rate as published in The Wall Street Journal. Margins generally range from zero basis points to 200 basis points above the prime rate. We also originate, to a lesser extent, 10- to 15-year fixed-rate, fully amortizing land loans. In general, our construction and land loans have interest rate floors equal to the interest rate on the date the loan is originated, and we do not typically charge prepayment penalties.

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We grant construction and land loans to experienced developers for the construction of single-family residences, including condominiums, and commercial properties. Construction and land loans also are made to individuals for the construction of their personal residences. Advances on construction loans are made in accordance with a schedule reflecting the cost of construction, but are generally limited to a loan-to-completed appraised value ratio of 70%. Repayment of construction loans on residential properties normally is expected from the sale of units to individual purchasers, or in the case of individuals building their own residences, with a permanent mortgage. In the case of income-producing property, repayment usually is expected from permanent financing upon completion of construction. We typically offer permanent mortgage financing on our construction loans only on income-producing properties.

Land loans also help finance the purchase of land intended for future development, including single-family housing, multifamily housing, and commercial property. In some cases, we may make an acquisition loan before the borrower has received municipal approvals to develop the land. In general, the maximum loan-to-value ratio for land acquisition loans is 50% of the appraised value of the property, and the maximum term of these loans is three years. Generally, if the maturity of the loan exceeds three years, the loan must be an amortizing loan.

Construction and land loans generally carry higher interest rates and have shorter terms than multifamily and commercial real estate loans. Construction and land loans have greater credit risk than long-term financing on improved, income-producing real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the real estate value at completion of construction as compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction costs is inaccurate, we may decide to advance additional funds beyond the amount originally committed in order to protect our security interest in the underlying property. However, if the estimated value of the completed project is inaccurate, the borrower may hold the real estate with a value that is insufficient to assure full repayment of the construction loan upon its sale. In the event we make a land acquisition loan on real estate that is not yet approved for the planned development, there is a risk that approvals will not be granted or will be delayed. Construction loans also expose us to a risk that improvements will not be completed on time in accordance with specifications and projected costs. In addition, the ultimate sale or rental of the real estate may not occur as anticipated and the market value of collateral, when completed, may be less than the outstanding loans and there may be no permanent financing available upon completion. Substantially all of our construction and land loans are secured by real estate located in our primary market areas. 

Commercial and Industrial Loans. AtDecember 31, 2016, originated commercial and industrial loans totaled $31.9 million or1.1% of the total loan portfolio and the additional un-advanced portion of these commercial and industrial loans totaled $25.0 million.  As ofDecember 31, 2016, we had 193 commercial and industrial loans with an average loan balance of approximately $166,000,although we originate these types of loans in amounts substantially greater than this average.  AtDecember 31, 2016, our largest commercial and industrial loan had a principal balance of $5.0million and was performing in accordance with its original contractual terms.

Our commercial and industrial loans typically amortize over 10 years with interest rates that are indexed to the prime rate as published in The Wall Street Journal. Margins generally range from zero basis points to 300 basis points above the prime rate. We also originate, to a lesser extent, 10-year fixed-rate, fully amortizing loans. In general, our commercial and industrial loans have interest rate floors equal to the interest rate on the date the loan is originated and have prepayment penalties.

We make various types of secured and unsecured commercial and industrial loans for the purpose of working capital and other general business purposes. The terms of these loans generally range from less than one year to a maximum of 15 years. The loans either are negotiated on a fixed-rate basis or carry adjustable interest rates indexed to the prime rate as published in The Wall Street Journal.

Commercial credit decisions are based on our credit assessment of the applicant. We evaluate the applicant’s ability to repay in accordance with the proposed terms of the loan and assess the risks involved. Personal guarantees of the principals are typically obtained. In addition to evaluating the loan applicant’s financial statements, we consider the adequacy of the secondary sources of repayment for the loan, such as pledged collateral and the financial stability of the guarantors. Credit agency reports of each guarantor’s personal credit history supplement our analysis of the applicant’s creditworthiness. We also attempt to confirm with other banks and conduct trade investigations as part of our credit assessment of the borrower. Collateral securing a loan also is analyzed to determine its marketability.

During 2013, the Company expanded its small business lending to include unsecured loans of up to $250,000 using a scoring system developed by a third-party vendor.  The scoring system provides a consistent method of timely decisions related to these small business loans. During the fourth quarter of 2014, the Company began assembling a commercial and industrial

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lending team to serve primarily the Company's existing markets and the acquisition of Hopewell Valley in 2016 further allowed the Company to expand its commercial and industrial lending in New Jersey and Pennsylvania.

Commercial and industrial loans generally carry higher interest rates than multifamily and commercial real estate loans of like maturity because they have a higher risk of default since their repayment generally depends on the successful operation of the borrowers’ business.

One-to-Four Family ResidentialReal Estate Loans. At December 31, 2016, we had 271 originated one-to-four family residential real estate loans outstanding with an aggregate balance of $106.0 million, or 3.6% of our total loan portfolio.  As of December 31, 2016, the average balance of originated one-to-four family residential real estate loans was approximately $393,000, although we have originated this type of loan in amounts substantially greater than this average.  At December 31, 2016, our largest loan of this type had a principal balance of $4.9 million, was collateralized by 48 two-bedroom individual condominiums, and was performing in accordance with its original contractual terms. We no longer offer loans secured by owner-occupied, one-to-four family residential real estate loans. In the fourth quarter of 2015 we discontinued an origination assistance agreement with a third-party underwriter to originate residential real estate loans that conformed to secondary market underwriting standards, whereby the third-party underwriter would process and underwrite one-to-four family residential real estate loans that we funded at origination, and we elected either to portfolio the loans or sell them to the third-party. One-to-four family residential real estate loans sold to our third-party underwriter under a Loan and Servicing Rights Purchase and Sale Agreement totaled $2.4 million and $1.2 million during the years ended December 31, 2015 and 2014, respectively.

We historically have not offered “interest-only” mortgage loans on one-to-four family residential real estate properties, where the borrower pays interest for an initial period, after which the loan converts to a fully amortizing loan.However, during 2014 and 2015, we purchased pools of one-to-four family residential real estate loans, a substantial amount of which are interest-only mortgage loans. For further details on these purchases, see the “Acquired Loans” discussion below. We also historically have not offered loans that provide for negative amortization of principal, such as “Option ARM” loans, where the borrower can pay less than the interest owed on the loan, resulting in an increased principal balance during the life of the loan.

Home Equity Loans and Lines of Credit.  At December 31, 2016, we had 1,171 originated home equity loans and lines of credit with an aggregate outstanding balance of $65.4 million, or 2.2% of our total loan portfolio.  Of this total, outstanding home equity lines of credit totaled $32.0 million, or 1.1%, of our total loan portfolio and home equity loans totaled $33.4 million, or 1.1%, of our total loan portfolio. At December 31, 2016, the average home equity loan and line of credit balance was approximately $57,000, although we originate these types of loans in amounts substantially greater than this average.  At December 31, 2016, our largest outstanding home equity line of credit was $589,000 and was performing in accordance with its original contractual terms. At December 31, 2016, our largest outstanding home equity loan was $367,000 and was performing in accordance with its original contractual terms.

We offer home equity loans and home equity lines of credit that are secured by the borrower’s primary residence or second home. Home equity lines of credit are adjustable-rate loans tied to the prime rate as published in The Wall Street Journal adjusted for a margin, and have a maximum term of 20 years during which time the borrower is required to make principal payments based on a 20-year amortization. Home equity lines generally have interest rate floors and ceilings. The borrower is permitted to draw against the line during the entire term on originations occurring prior to June 15, 2011. For home equity loans originated beginning June 15, 2011, the borrower is only permitted to draw against the line for the initial 10 years. Our home equity loans typically are fully amortizing with fixed terms to 20 years. Home equity loans and lines of credit generally are underwritten with the same criteria we use to underwrite fixed-rate, one-to-four family residential real estate loans. Home equity loans and lines of credit may be underwritten with a loan-to-value ratio of 80% when combined with the principal balance of the existing mortgage loan. We appraise the property securing the loan at the time of the loan application to determine the value of the property. At the time we close a home equity loan or line of credit, we record a mortgage to perfect our security interest in the underlying collateral.    

PCI Loans. PCI loans are accounted for in accordance with Accounting Standards Codification (ASC) Subtopic 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality,” since all of these loans were acquired at a discount attributable, at least in part, to credit quality.  PCI loans are initially recorded at fair value (as determined by the present value of expected future cash flows) with no valuation allowance (i.e., allowance for loan losses). Under ASC Subtopic 310-30, the PCI loans are aggregated and accounted for as pools of loans based on common risk characteristics. PCI loans had a carrying balance of approximately $30.5 million at December 31, 2016, or 1.0% of our total loan portfolio. PCI loans consisted of approximately 30% commercial real estate loans and 48% commercial and industrial loans, with the remaining balance in residential and home equity loans. At December 31, 2016, 6.6% of PCI loans were past due 30 to 89 days, and 19.3% were past due 90 days or more.

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The difference between the undiscounted cash flows expected at acquisition and the investment in the PCI loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of the loans in each pool. Contractually required payments of interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “non-accretable difference,” are not recognized as a yield adjustment or as a loss accrual or a valuation allowance. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through an adjustment of the yield on the pool over its remaining life, while decreases in expected cash flows are recognized as impairment through a loss provision and an increase in the allowance for loan losses.

Acquired Loans.  Loans acquired, with no evidence of credit deterioration, are held-for-investment and initially valued at estimated fair value on the date of acquisition, with no initial related allowance for loan losses. These loans are evaluated for impairment on a quarterly basis as part of our analysis of the allowance for loan losses. During 2016, we acquired $342.6 million of loans as part of the Hopewell Valley acquisition, and in addition, we also purchased loan pools, primarily multifamily loans, totaling $165.9 million.

The following table provides the details of the loans purchased during the year ended December 31, 2016 (dollars in thousands):

Amounts(1)(2)		Weighted Average Interest Rate(2)	Weighted Average Loan-to-Value Ratio	Weighted Average Months to Next Rate Change or Maturity for Fixed Rate Loans	(F)ixed or (V)ariable	Amortization Term
$	27,415	3.98%	30%	120	F	30 Years
48,445		2.95%	53%	46	V	30 Years
82,242		2.93%	49%	33	V	30 Years
7,760		2.85%	66%	30	V	30 Years
$	165,862	3.11%	45%

__________________

(1) At time of purchase

(2) Comprised of $153.2 million multifamily loans, $7.8 million commercial real estate loans, and $4.9 million one-to-four family residential loans

(3) Net of servicing fee retained by the originating bank

The properties securing the above loans are primarily located in New York State.

During 2015, we purchased loan pools totaling $185.0 million, the most significant of which were a $127.4 million pool of one-to-four family residential loans and a $47.4 million pool of multifamily loans. The following table provides the details of the one-to-four family residential loans purchased during the year ended December 31, 2015 (dollars in thousands): 

Amounts(1)		Weighted Average Interest Rate(2)	Weighted Average Loan-to-Value Ratio	Weighted Average Months to Next Rate Change	Amortization Term	Amortization Type
$	49,345	2.49%	62%	44	30 Years	Fully amortizing
78,086		2.38%	59%	35	20 Years(3)	Delayed amortizing
$	127,431	2.42%	60%

_________________

(1) At time of purchase

(2) Net of servicing fee retained by the originating bank

(3) 20 years of amortization begins after an interest-only period for the first 10 years

Of the total loans purchased in the table above, $78.1 million, or 61%, are interest-only for the first 10 years and will re-price in less than five years at one-month LIBOR plus a weighted average margin of 1.6%; a floor rate also is included in the terms.  The remainder of the loan pool is scheduled to make principal and interest payments and will re-price in less than five years at one-month LIBOR plus a weighted average margin of 1.9%, also with a floor rate included in the terms.  The properties securing the loans (by state) are located as follows: 62.5% in New York, 22.2% in Massachusetts, and 15.3% in other states.

The multifamily loans purchased in 2015 had a weighted average interest rate of 3.37%, a weighted average loan-to-value ratio of 41.1%, with terms of 10 to 15 years and amortization ranging from 15 to 30 years at December 31, 2015. The properties securing these loans are located in New York State.

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The following table provides the details of the one-to-four family residential loans purchased in 2014 (dollars in thousands): 

Amounts(1)		Weighted Average Interest Rate(2)	Weighted Average Loan-to-Value Ratio	Weighted Average Months to Next Rate Change	Amortization Term	Amortization Type
$	71,782	2.47%	67%	53	30 Years	Fully amortizing
114,692		2.57%	61%	51	20 Years(3)	Delayed amortizing
$	186,474	2.53%	63%

_________________

(1) At time of purchase

(2) Net of servicing fee retained by the originating bank

(3) 20 years of amortization begins after an interest-only period for the first 10 years

The weighted average coupon of 2.53% noted in the table above is net of the servicing fee retained by the originating bank. Of the total loans purchased, $114.7 million, or 62%, are interest-only for the initial 10 years and will re-price in less than five years at one month LIBOR plus a weighted average margin of 1.7%. The remainder of the loan pool is scheduled to make principal and interest payments and will re-price in less than five years at one month LIBOR plus a weighted average margin of 1.8%. The locations of the properties (by state) securing the loans are as follows: 46.0% in New York, 30.5% in Massachusetts, and 23.5% in other states.

At December 31, 2016, acquired loans totaled approximately $793.2 million and consisted of approximately 40.0% one-to-four family residential loans, 27.2% multifamily loans, and 23.7% commercial real estate loans, with the remaining balance in home equity, construction and land, and commercial and industrial loans. At December 31, 2015, acquired loans totaled approximately $409.0 million and consisted of approximately 80.8% one-to-four family residential loans and 15.8% multifamily loans, with the remaining balance in commercial real estate and home equity loans. At December 31, 2014, acquired loans totaled approximately $265.7 million and consisted of approximately 88.3% one-to-four family residential loans and 7.1% multifamily loans, with the remaining balance in commercial real estate and industrial loans. 

Non-Performing and Problem Assets

When a loan is over 15 days delinquent, we generally send the borrower a late charge notice. When a loan is 30 days past due, we generally mail the borrower a letter reminding the borrower of the delinquency and, except for loans secured by one-to-four family residential real estate, we attempt personal, direct contact with the borrower to determine the reason for the delinquency, to ensure the borrower correctly understands the terms of the loan, and to emphasize the importance of making payments on or before the due date.  If necessary, additional late charges and delinquency notices are issued and the account will be monitored.  After 90 days of delinquency, we generally send the borrower a final demand for payment and refer the loan to legal counsel to commence foreclosure and related legal proceedings.   At times, we may shorten or lengthen these time frames. 

Generally, loans (excluding PCI loans) are placed on non-accrual status when payment of principal or interest is 90 days or more delinquent unless the loan is considered well-secured and in the process of collection. Loans also are placed on non-accrual status at any time if the ultimate collection of principal or interest in full is in doubt. When loans are placed on non-accrual status, unpaid accrued interest is reversed, and further income is recognized only to the extent received, and only if the principal balance is deemed fully collectible. The loan may be returned to accrual status if both principal and interest payments are brought current and factors indicating doubtful collection no longer exist, including performance by the borrower under the loan terms for a six-month period. Our Chief Lending Officer reports monitored loans, including all loans rated watch, special mention, substandard, doubtful or loss, to the loan committee of the board of directors at least quarterly.

To minimize our losses on delinquent loans we work with borrowers experiencing financial difficulties and will consider modifying existing loan terms and conditions that we would not otherwise consider, commonly referred to as troubled debt restructurings (“TDR”). We record an impairment loss associated with TDRs, if any, based on the present value of expected future cash flows discounted at the original loan’s effective interest rate or the underlying collateral value, less cost to sell, if the loan is collateral dependent. Once an obligation has been restructured because of credit problems, it continues to be considered restructured until paid in full or, if the obligation yields a market rate (a rate equal to or greater than the rate we were willing to accept at the time of the restructuring for a new loan with comparable risk), until the year subsequent to the year in which the restructuring takes place, provided the borrower has performed under the modified terms for a consecutive six-month period.

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PCI loans are subject to the same internal and external credit review process as non-PCI loans. If and when unexpected credit deterioration occurs at the loan pool level subsequent to the acquisition date, a provision for credit losses for PCI loans will be charged to earnings for the full amount of the decline in the discounted expected cash flows for the pool. Under the accounting guidance of ASC Subtopic 310-30, for acquired credit-impaired loans, the allowance for loan losses on PCI loans is measured at each financial reporting date based on future expected cash flows. This assessment and measurement is performed at the pool level and not at the individual loan level. Accordingly, decreases in expected cash flows resulting from further credit deterioration on a pool of acquired PCI loan pools as of such measurement date compared to those originally estimated are recognized by recording a provision and allowance for credit losses on PCI loans. Subsequent increases in the expected cash flows of the loans in that pool would first reduce any allowance for loan losses on PCI loans, and any excess will be accreted prospectively as a yield adjustment.

We consider our PCI loans to be performing due to the application of the yield accretion method under ASC Subtopic 310-30. ASC Subtopic 310-30 allows us to aggregate credit-impaired loans acquired in the same fiscal quarter into one or more pools, provided that the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows.  Accordingly, loans that may have been classified as non-performing loans are no longer classified as non-performing because, at the respective dates of acquisition, we believed that we would fully collect the new carrying value of these loans. The new carrying value represents the contractual balance, reduced by the portion expected to be uncollectible (referred to as the non-accretable difference) and by an accretable yield (discount) that is recognized as interest income. Management’s judgment is required in reclassifying loans subject to ASC Subtopic 310-30 as performing loans, and is dependent on having a reasonable expectation about the timing and amount of the cash flows to be collected, even if a loan is contractually past due.

Non-Performing and Restructured Loans(excluding PCI Loans).  The table below sets forth the amounts and categories of our non-performing assets at the dates indicated.  At December 31, 2016, 2015, 2014, 2013, and 2012, we had TDRs of $1.8 million, $4.4 million, $9.5 million, $10.7 million, and $19.3 million, respectively, which are included in the appropriate categories within non-accrual loans.  Additionally, we had $20.6 million, $22.3 million, $24.2 million, $26.2 million, and $25.7 million, of TDRs on accrual status at December 31, 2016, 2015, 2014, 2013, and 2012, respectively, which do not appear in the table below.  Generally, the types of concessions that we make to troubled borrowers include reductions in interest rates and payment extensions and to a lesser extent interest and principal forgiveness. At December 31, 2016, 75.1% of TDRs were commercial real estate loans, 16.1% were one-to-four family residential loans, 6.8% were multifamily loans, 1.5% were home equity loans, and 0.5% were commercial and industrial loans.  At December 31, 2016, all of the $20.6 million in accruing TDR loans were performing in accordance with their restructured terms. At December 31, 2016, loans totaling $1.4 million, or 76.4%, of the $1.8 million in non-accruing TDRs were not performing in accordance with their restructured terms. Three separate relationships account for these non-performing loans, which are primarily collateralized by real estate with an aggregate estimated fair value of $1.4 million.

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	At December 31,
	2016			2015			2014			2013			2012
	(Dollars in thousands)
Non-accrual loans:
Real estate loans:
Commercial(1)	$	5,513		$	5,232		$	11,164		$	12,450		$	22,425
One-to-four family residential	1,629			2,574			2,205			2,989			6,333
Construction and land	—			113			—			108			2,070
Multifamily	43			559			—			544			1,169
Home equity and lines of credit	127			329			98			1,239			1,694
Commercial and industrial loans	9			—			408			441			1,256
Total non-accrual loans	7,321			8,807			13,875			17,771			34,947
Loans delinquent 90 days or more and still accruing:
Real estate loans:
Commercial	—			—			—			—			349
One-to-four family residential	52			—			708			—			270
Home equity and lines of credit	8			—			—			—			—
Other	—			—			—			32			2
Commercial and industrial loans	—			15			—			—			—
Total loans delinquent 90 days or more and still accruing	60			15			708			32			621
Total non-performing loans	7,381			8,822			14,583			17,803			35,568
Other real estate owned	850			45			752			634			870
Total non-performing assets	$	8,231		$	8,867		$	15,335		$	18,437		$	36,438
Ratios:
Non-performing loans to total loans held-for-investment, net	0.25		%	0.37		%	0.75		%	1.20		%	2.86		%
Non-performing assets to total assets	0.21		%	0.28		%	0.51		%	0.68		%	1.30		%
Total assets	$	3,850,094		$	3,202,584		$	3,020,869		$	2,702,764		$	2,813,201
Loans held-for-investment, net	$	2,968,084		$	2,373,715		$	1,942,995		$	1,489,476		$	1,242,982

⁽¹⁾ Included in commercial real estate non-accrual loans at December 31, 2016, is a loan with a balance of approximately $3.3 million which was partially paid off in January 2017, from the sale of one of the properties collateralizing the loan, totaling approximately $3.1 million. No impairment reserve was required on this loan as of December 31, 2016.

At December 31, 2016, 6.6% of PCI loans were past due 30 to 89 days, and 19.3% were past due 90 days or more.  At December 31, 2015, 7.9% of PCI loans were past due 30 to 89 days, and 21.4% were past due 90 days or more. At December 31, 2014, 7.8% of PCI loans were past due 30 to 89 days, and 24.1% were past due 90 days or more. At December 31, 2013, 6.6% of PCI loans were past due 30 to 89 days, and 14.9% were past due 90 days or more. At December 31, 2012, 5.4% of PCI loans were past due 30 to 89 days, and 11.4% were past due 90 days or more.

The following table sets forth the property types collateralizing non-accrual commercial real estate loans at December 31, 2016:

	At December 31, 2016
	Amount		Percent
	(Dollars in thousands)
Warehousing	$	3,341	60.6	%
Restaurants	1,000		18.1
Office buildings	541		9.8
Mixed use	341		6.2
Other	290		5.3
Total	$	5,513	100.0	%

15

Other Real Estate Owned.  Real estate acquired by us as a result of foreclosure or by deed in lieu of foreclosure is classified as other real estate owned.  On the date the property is acquired, it is recorded at the lower of cost or estimated fair value, establishing a new cost basis.  Estimated fair value generally represents the sale price a buyer would be willing to pay on the basis of current market conditions, including normal terms from other financial institutions, less the estimated costs to sell the property.  Holding costs and declines in estimated fair value result in charges to expense after acquisition.  Other real estate owned consisted of one commercial real estate property with a carrying value of $850,000 at December 31, 2016, and one mixed-use property with a carrying value of $45,000 at December 31, 2015.

Potential Problem Loans and Classification of Assets.  Our loan officers and credit administration department monitor their loan portfolios, including evaluation of borrowers’ business operations, current financial condition, underlying values of any collateral, and assessment of their financial prospects in the current economic environment. Based on these evaluations, we determine an appropriate strategy for individual potential problem loans, with the objective of maximizing the recovery of the related loan balances.

Our policies, consistent with regulatory guidelines, provide for the classification of loans and other assets that are considered to be of lesser quality as substandard, doubtful, or loss assets. An asset is classified substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any.  Substandard assets include those assets characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Assets (or portions of assets) classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted. Assets that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve our close attention, are designated as special mention. At December 31, 2016, classified assets, excluding loans on non-accrual status, consisted of substandard assets of $26.1 million and no doubtful or loss assets.  At December 31, 2016, we also had $11.5 million of assets designated as special mention. At December 31, 2015, classified assets, excluding loans on non-accrual status, consisted of substandard assets of $30.1 million and no doubtful or loss assets.  At December 31, 2015, we also had $10.6 million of assets designated as special mention.

Our determination as to the classification of our assets (and the amount of our loss allowances) is subject to review by our principal federal regulator, the OCC, which can require that we adjust our classification and related loss allowances. We regularly review our asset portfolio to determine whether any assets require classification in accordance with applicable regulations. We also engage the services of a third party to review, on a sample basis, our risk ratings on a semi-annual basis.

At December 31, 2016, the Company had $10.1 million of accruing loans that were 30 to 89 days delinquent, as compared to $21.6 million at December 31, 2015.

The following table sets forth the total amounts of delinquencies for accruing loans that were 30 to 89 days past due by type and by amount at the dates indicated:

	December 31,
	2016		2015
	(Dollars in thousands)
Real estate loans:
Commercial	$	4,578	$	13,957
One-to-four family residential	3,621		4,209
Multifamily	1,440		2,965
Home equity and lines of credit	263		374
Commercial and industrial loans	148		104
Other loans	50		11
Total	$	10,100	$	21,620

The decrease in the delinquent loans was due in part to one commercial real estate loan with a balance of $5.6 million at December 31, 2015, which was 31 days delinquent and became current during the first quarter of 2016. This loan had a balance of $5.5 million at December 31, 2016, is classified as an accruing TDR, and adequately covered by collateral with a recent appraised value of $9.3 million.

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Allowance for Loan Losses

We provide for loan losses based on the consistent application of our documented allowance for loan loss methodology.  Loan losses are charged to the allowance for loans losses and recoveries are credited to it.  Additions to the allowance for loan losses are provided by charges against income based on various factors, which, in our judgment, deserve current recognition in estimating probable losses.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, for collateral dependent loans.  We regularly review the loan portfolio in order to maintain the allowance for loan losses in accordance with U.S. generally accepted accounting principles (U.S. GAAP). See“Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Polices - Allowance for Loan Losses”for a description of our allowance methodology.

The following table sets forth activity in our allowance for loan losses for the years indicated:

	At or For the Years Ended December 31,
	2016			2015			2014			2013			2012
	(Dollars in thousands)
Balance at beginning of year	$	24,770		$	26,292		$	26,037		$	26,424		$	26,836
Charge-offs:
Commercial real estate	(638		)	(1,431		)	(103		)	(1,208		)	(1,828		)
One-to-four family residential	(20		)	(277		)	(58		)	(414		)	(1,300		)
Construction and land	—			—			—			—			(43		)
Multifamily	(278		)	(120		)	(7		)	(657		)	(729		)
Home equity and lines of credit	—			(115		)	(489		)	(491		)	(2		)
Commercial and industrial	(66		)	(71		)	(135		)	(379		)	(90		)
Insurance premium finance loans	—			—			—			—			(198		)
Other	(2		)	(1		)	—			(25		)	(3		)
Total charge-offs	(1,004		)	(2,015		)	(792		)	(3,174		)	(4,193		)
Recoveries:
Commercial real estate	181			2			72			1			107
One-to-four family residential	2			20			—			18			—
Construction and land	—			—			246			567			—
Multifamily	—			25			35			—			9
Home equity and lines of credit	2			42			—			—			—
Commercial and industrial	4			34			8			201			86
Insurance premium finance loans	—			—			—			—			18
Other	5			17			41			73			25
Total recoveries	194			140			402			860			245
Net charge-offs	(810		)	(1,875		)	(390		)	(2,314		)	(3,948		)
Provision for loan losses	635			353			645			1,927			3,536
Balance at end of year	$	24,595		$	24,770		$	26,292		$	26,037		$	26,424
Ratios:
Net charge-offs to average loans outstanding	0.03		%	0.09		%	0.02		%	0.17		%	0.36		%
Allowance for loan losses to non-performing loans held-for-investment at end of year (1)	333.23			280.78			180.29			150.23			87.73
Allowance for loan losses to originated loans held-for-investment, net at end of year (2)	1.10			1.24			1.58			1.88			2.46
Allowance for loan losses to total loans held-for-investment at end of year (3)	0.83			1.04			1.35			1.75			2.13

⁽¹⁾  Excludes non-performing loans held-for-sale, carried at lower of cost or estimated fair value, less costs to sell.

⁽²⁾  Excludes PCI loans, acquired loans held-for-investment and loans held-for-sale (and related allowance for loan losses).

⁽³⁾  Includes PCI and acquired loans held-for-investment.

At December 31, 2016 and 2015, the allowance for loan losses related to PCI loans was $896,000 and $783,000, respectively.  Loans held-for-sale are excluded from the allowance for loan losses coverage ratios in the table above.

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Allocation of Allowance for Loan Losses.  The following tables set forth the allowance for loan losses allocated by loan category and the percent of loans in each category to total loans at the dates indicated.  The allowance for loan losses allocated to each category is not necessarily indicative of future losses in any particular category and does not restrict the use of the allowance to absorb losses in other categories. Prior to December 31, 2016, we maintained an amount identified as the unallocated component within the allowance for loan losses related to indicators of loan losses not fully captured in other components of the allowance for loan losses methodology, as well as the inherent imprecision of the loss estimation process.  During the fourth quarter of 2016, the Company enhanced the allowance for loan losses qualitative framework to more fully capture the risks related to certain loan loss factors. These enhancements are meant to increase the level of precision in the allowance for loan losses.  As a result, the Company will no longer have an unallocated reserve in its allowance for loan losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective loan portfolios.

	At December 31,
	2016				2015				2014
	Allowance for Loan Losses		Percent of Loans in Each Category to Total Loans		Allowance for Loan Losses		Percent of Loans in Each Category to Total Loans		Allowance for Loan Losses		Percent of Loans in Each Category to Total Loans
	(Dollars in thousands)
Real estate loans:
Commercial	$	5,432	13.93	%	$	7,106	16.97	%	$	9,309	20.13	%
One-to-four family residential	664		3.58		787		4.15		951		3.84
Construction and land	172		0.47		261		0.79		266		1.10
Multifamily	14,952		50.86		12,387		55.66		12,219		55.31
Home equity and lines of credit	588		2.21		795		2.59		901		2.81
Commercial and industrial	1,720		1.08		1,288		1.08		841		0.67
PCI loans	896		1.03		783		1.40		400		2.31
Loans Acquired	75		26.79		115		17.26		62		13.71
Other	96		0.05		155		0.10		134		0.12
Total allocated allowance	24,595		100.00	%	23,677		100.00	%	25,083		100.00	%
Unallocated	—				1,093				1,209
Total	$	24,595			$	24,770			$	26,292
	At December 31,
	2013				2012
	Allowance for Loan Losses		Percent of Loans in Each Category to Total Loans		Allowance for Loan Losses		Percent of Loans in Each Category to Total Loans
	(Dollars in thousands)
Real estate loans:
Commercial	$	12,619	22.89	%	$	14,480	25.43	%
One-to-four family residential	875		4.36		623		5.22
Construction and land	205		0.95		994		1.87
Multifamily	9,374		58.61		7,086		49.18
Home equity and lines of  credit	860		3.11		623		2.71
Commercial and industrial	425		0.68		1,160		1.19
Insurance premium finance loans	—		—		3		—
PCI loans	588		4.00		236		6.07
Loans Acquired	—		5.24		—		8.18
Other	67		0.16		18		0.15
Total allocated allowance	25,013		100.00	%	25,223		100.00	%
Unallocated	1,024				1,201
Total	$	26,037			$	26,424

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Investments

We conduct securities portfolio transactions in accordance with our board-approved investment policy, which is reviewed at least annually by the risk committee of the board of directors. Any changes to the policy are subject to ratification by the full board of directors. This policy dictates that investment decisions give consideration to the safety of the investment, liquidity requirements, potential returns, the ability to provide collateral for pledging requirements, and consistency with our interest rate risk management strategy. Our Chief Investment Officer executes our securities portfolio transactions, within policy requirements, with the approval of either the Chief Executive Officer or the President.  NSB Services Corp.’s and NSB Realty Trust’s investment officers execute security portfolio transactions in accordance with investment policies that substantially mirror Northfield Bank’s investment policy. All purchase and sale transactions are reviewed by the risk committee at least quarterly.

Our current investment policy permits investments in mortgage-backed securities, including pass-through securities and real estate mortgage investment conduits (“REMICs”). The investment policy also permits, with certain limitations, investments in debt securities issued by the U.S. Government, agencies of the U.S. Government or U.S. Government-sponsored enterprises (“GSEs”), asset-backed securities, municipal obligations (including bonds, tax anticipation notes and bond anticipation notes), money market mutual funds, federal funds, investment grade corporate bonds, reverse repurchase agreements, and certificates of deposit.

Northfield Bank’s investment policy does not permit investment in preferred and common stock of other entities including GSEs, other than our required investment in the common stock of the FHLB of New York or as permitted for community reinvestment purposes or to fund Northfield Bank’s deferred compensation plan. Northfield Bancorp, Inc. may invest in equity securities of other financial institutions up to certain limitations. As of December 31, 2016, we held no asset-backed securities other than mortgage-backed securities.  Our board of directors may change these limitations in the future.

Our current investment policy does not permit hedging through the use of derivative instruments such as financial futures or interest rate options and swaps.

At the time of purchase, we designate a security as either held-to-maturity, available-for-sale, or trading, based upon our ability and intent to hold such securities.  Trading securities and securities available-for-sale are reported at estimated fair value, and securities held-to-maturity are reported at amortized cost. A periodic review and evaluation of the available-for-sale and held-to-maturity securities portfolios is conducted to determine if the estimated fair value of any security has declined below its carrying value and whether such impairment is other-than-temporary. If such impairment is deemed to be other-than-temporary, the security is written down to a new cost basis and the resulting loss is charged against earnings. The estimated fair values of our securities are obtained from an independent nationally recognized pricing service (see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies - Securities Valuation and Impairment” for further discussion). At December 31, 2016, our investment portfolio consisted primarily of mortgage-backed securities guaranteed by GSEs and, to a lesser extent, private label mortgage-backed securities, municipal bonds, corporate debt securities and mutual funds. The market for these securities primarily consists of other financial institutions, insurance companies, real estate investment trusts, and mutual funds.

We purchase mortgage-backed securities insured or guaranteed primarily by the Federal National Mortgage Association (“Fannie Mae”),  the Federal Home Loan Mortgage Corporation (“Freddie Mac”), or the Government National Mortgage Association (“Ginnie Mae”), and to a lesser extent, securities issued by private companies (private label). We invest in mortgage-backed securities to achieve positive interest rate spreads with minimal administrative expense, and to lower our credit risk as a result of the guarantees provided by Fannie Mae, Freddie Mac, or Ginnie Mae as well as to provide us liquidity to fund loan originations and deposit outflows. In September 2008, the Federal Housing Finance Agency placed Freddie Mac and Fannie Mae into conservatorship.  The U.S. Treasury Department has established financing agreements to ensure that Freddie Mac and Fannie Mae meet their obligations to holders of mortgage-backed securities that they have issued or guaranteed.

Mortgage-backed securities are securities sold in the secondary market that are collateralized by pools of mortgages. Certain types of mortgage-backed securities are commonly referred to as “pass-through” certificates because the principal and interest of the underlying loans is “passed through” pro rata to investors, net of certain costs, including servicing and guarantee fees, in proportion to an investor’s ownership in the entire pool. The issuers of such securities pool mortgages and resell the participation interests in the form of securities to investors. The interest rate on the security is lower than the interest rates on the underlying loans to allow for payment of servicing and guaranty fees. Ginnie Mae, a U.S. Government agency, and GSEs, such as Fannie Mae and Freddie Mac, may guarantee the payments, or guarantee the timely payment of principal and interest to investors.

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Mortgage-backed securities are more liquid than individual mortgage loans since there is a more active market for such securities. In addition, mortgage-backed securities may be used to collateralize our specific liabilities and obligations. Investments in mortgage-backed securities issued or guaranteed by GSEs involve a risk that actual payments will be greater or less than estimated at the time of purchase, which may require adjustments to the amortization of any premium or accretion of any discount relating to such interests, thereby affecting the net yield on our securities. We periodically review current prepayment speeds to determine whether prepayment estimates require modification that could cause adjustment of amortization or accretion.

REMICs are a type of mortgage-backed security issued by special-purpose entities that aggregate pools of mortgages and mortgage-backed securities and create different classes of securities with varying maturities and amortization schedules, as well as a residual interest, with each class possessing different risk characteristics. The cash flows from the underlying collateral are generally divided into “tranches” or classes that have descending priorities with respect to the distribution of principal and interest cash flows.

The timely payment of principal and interest on these REMICs is generally supported (credit enhanced) in varying degrees by either insurance issued by a financial guarantee insurer, letters of credit, over collateralization, or subordination techniques. Substantially all of these securities are rated “AAA” by Standard & Poor’s or Moody’s at the time of purchase. Privately issued REMICs and pass-throughs can be subject to certain credit-related risks normally not associated with U.S. Government agency and GSE mortgage-backed securities. The loss protection generally provided by the various forms of credit enhancements is limited, and losses in excess of certain levels are not protected. Furthermore, the credit enhancement itself is subject to the creditworthiness of the credit enhancer. Thus, in the event a credit enhancer does not fulfill its obligations, the holder could be subject to risk of loss similar to a purchaser of a whole loan pool. Management believes that the credit enhancements are adequate to protect us from material losses on our private label mortgage-backed securities investments.  

At December 31, 2016, our corporate bond portfolio consisted of investment-grade securities, the majority of which had remaining maturities generally shorter than five years. Our investment policy provides that we may invest up to 15% of our tier-one risk-based capital in corporate bonds from individual issuers which, at the time of purchase, are within the investment-grade ratings from Standard & Poor’s, Moody’s or Fitch. The maturity of these bonds may not exceed 10 years, and there is no aggregate limit for this security type. Corporate bonds from individual issuers not rated investment grade at the time of purchase, are limited to the lesser of 1% of our total assets or 15% of our tier-one risk-based capital, and must have a maturity of less than one year. Aggregate holdings of this security type cannot exceed 5% of our total assets. Additionally, at the time of purchase, management performs due diligence to conclude that the security meets the regulatory standard for investment-grade. Bonds that subsequently experience a decline in credit rating below investment grade are monitored at least quarterly.

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The following table sets forth the amortized cost and estimated fair value of our available-for-sale and held-to-maturity securities portfolios (excluding FHLB of New York common stock) at the dates indicated.  As of December 31, 2016, 2015, and 2014, we also had a trading portfolio with a fair value of $7.9 million, $6.7 million and $6.4 million, respectively, consisting of mutual funds quoted in actively traded markets.  These securities are utilized to fund non-qualified deferred compensation obligations.

	At December 31,
	2016				2015				2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Securities available-for-sale:
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	225,047	$	224,549	$	228,557	$	231,700	$	292,162	$	299,340
REMICs:
GSEs	230,500		224,293		305,387		297,824		408,328		400,450
Non-GSEs	280		270		597		579		1,060		1,026
Debt securities
Municipal bonds	2,151		2,158		—		—		—		—
Corporate bonds	45,373		45,159		11,002		11,011		69,975		70,013
Other securities
Equity investments (1)	1,233		1,218		481		481		410		410
Other	1,250		1,250		—		—		—		—
Total securities available-for-sale	$	505,834	$	498,897	$	546,024	$	541,595	$	771,935	$	771,239
(1)  Mutual funds

	At December 31,
	2016				2015				2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Securities held-to-maturity:
Mortgage-backed securities:
Pass-through certificates - GSEs	$	10,148	$	10,118	$	10,346	$	10,369	$	3,609	$	3,691
Total securities held-to-maturity	$	10,148	$	10,118	$	10,346	$	10,369	$	3,609	$	3,691

The following table sets forth the amortized cost and estimated fair value of securities as of December 31, 2016, for issuers that exceeded 10% of our stockholders’ equity as of that date:

	At December 31, 2016
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Mortgage-backed securities:
Freddie Mac	$	223,992	$	221,812
Fannie Mae	$	233,812	$	229,431

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Portfolio Maturities and Yields.  The composition and maturities of the investment securities portfolio at December 31, 2016, are summarized in the following table.  Maturities are based on the final contractual payment dates, and do not reflect the effect of scheduled principal repayments, prepayments, or early redemptions that may occur.  All of our securities at December 31, 2016, were taxable securities.    

	One Year or Less				More than One Year through Five Years				More than Five Years through Ten Years				More than Ten Years				Total
	Amortized Cost		Weighted Average Yield		Amortized Cost		Weighted Average Yield		Amortized Cost		Weighted Average Yield		Amortized Cost		Weighted Average Yield		Amortized Cost		Fair Value		Weighted Average Yield
	(Dollars in thousands)
Securities available-for-sale:
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	139	5.50	%	$	43,706	3.20	%	$	44,336	2.93	%	$	136,866	2.26	%	$	225,047	$	224,549	2.58	%
REMICs:
GSEs	—		—	%	30,064		2.03	%	13,125		1.94	%	187,311		1.74	%	230,500		224,293		1.79	%
Non-GSEs	—		—	%	101		1.63	%	—		—	%	179		0.93	%	280		270		1.19	%
Debt securities
Municipal bonds	1,735		0.81	%	100		3.45	%	316		3.39	%	—		—	%	2,151		2,158		1.31	%
Corporate bonds	—		—	%	40,595		2.00	%	4,778		2.38	%					45,373		45,159		2.04	%
Equity investments	1,233		1.78	%	—		—	%	—		—	%	—		—	%	1,233		1,218		1.78	%
Other	1,250		1.70	%	—		—	%	—		—	%	—		—	%	1,250		1,250		1.70	%
Total securities available-for-sale	$	4,357	1.49	%	$	114,566	2.46	%	$	62,555	2.69	%	$	324,356	1.96	%	$	505,834	$	498,897	2.16	%
Securities held-to-maturity:
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	—	—	%	$	—	—	%	$	—	—	%	$	10,148	3.50	%	$	10,148	$	10,118	3.50	%
Total securities held-to-maturity	$	—	—	%	$	—	—	%	$	—	—	%	$	10,148	3.50	%	$	10,148	$	10,118	3.50	%

Sources of Funds

General.  Deposits traditionally have been our primary source of funds for our securities and lending activities. We also borrow from the FHLB of New York and other financial institutions to supplement cash flow needs, to manage the maturities of liabilities for interest rate and investment risk management purposes, and to manage our cost of funds. Our additional sources of funds are the proceeds of loan sales, scheduled loan and investment payments, maturing investments, loan prepayments, brokered deposits, and stockholders' equity, including retained earnings.

Deposits.  We accept deposits primarily from the areas in which our offices are located. We rely on our convenient locations, customer service, and competitive products and pricing to attract and retain deposits. We offer a variety of deposit accounts to businesses and consumers with a range of interest rates and terms. Our deposit accounts consist of transaction accounts (NOW and non-interest bearing checking accounts), savings accounts (money market, passbook, and statement savings), and certificates of deposit, including individual retirement accounts. We accept brokered deposits when it is deemed cost effective. At December 31, 2016 and 2015, we had brokered deposits totaling $98.8 million and $157.1 million,

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respectively. In addition, municipal deposits are a growing source of funds. At December 31, 2016 and 2015, we had municipal deposits of $362.8 million and $158.2 million, respectively. Municipal deposits are primarily secured by mortgaged-backed securities.

Interest rates offered generally are established weekly, while maturity terms, service fees, and withdrawal penalties are reviewed on a periodic basis. Deposit rates and terms are based primarily on current operating strategies, market interest rates, and liquidity requirements.

At December 31, 2016, we had $536.1 million in certificates of deposit, of which $237.7 million had remaining maturities of one year or less.

The following table sets forth the distribution of our average total deposit accounts, by account type, for the periods indicated: 

	For the Year Ended December 31,
	2016						2015						2014
	Average Balance		Percent		Weighted Average Rate		Average Balance		Percent		Weighted Average Rate		Average Balance		Percent		Weighted Average Rate
	(Dollars in thousands)
Non-interest bearing demand	$	372,946	14.50	%	—	%	$	262,318	13.68	%	—	%	$	236,425	15.83	%	—	%
NOW	414,366		16.10		0.23	%	181,341		9.47		0.25	%	120,680		8.08		0.36	%
Money market accounts	746,798		29.02		0.63	%	490,418		25.60		0.48	%	431,406		28.89		0.31	%
Savings	458,086		17.80		0.46	%	468,749		24.47		0.46	%	398,148		26.66		0.11	%
Certificates of deposit	580,973		22.58		1.12	%	512,977		26.78		1.07	%	306,803		20.54		1.04	%
Total deposits	$	2,573,169	100.00	%	0.56	%	$	1,915,803	100.00	%	0.55	%	$	1,493,462	100.00	%	0.36	%

As of December 31, 2016, the aggregate amount of our outstanding certificates of deposit in amounts greater than or equal to $100,000 was $209.3 million.  The following table sets forth the maturity of these certificates at December 31, 2016: 

	December 31, 2016
	(Dollars in thousands)
Three months or less	$	23,134
Over three months through six months	29,001
Over six months through one year	60,398
Over one year to three years	82,133
Over three years	14,674
Total	$	209,340

Borrowings.  Our borrowings consist primarily of advances from the FHLB of New York and the Federal Reserve Bank, as well as securities sold under agreements to repurchase (repurchase agreements) with third-party financial institutions. As of December 31, 2016, our FHLB advances totaled $453.2 million, or 14.0%, of total liabilities, repurchase agreements totaled $8.0 million, or 0.2%, of total liabilities, floating rate advances totaled $11.5 million, or 0.4%, of total liabilities and capitalized lease obligations totaled $523,000, or 0.02%, of total liabilities. At December 31, 2016, the Company had the ability to obtain additional funding from the FHLB of New York and Federal Reserve Bank discount window of approximately $837.8 million, utilizing unencumbered securities of $123.0 million and multifamily loans of $798.6 million.  Repurchase agreements are primarily secured by mortgage-backed securities.  Advances from the FHLB of New York are secured by our investment in the common stock of the FHLB of New York as well as by pledged mortgage-backed securities and loans.

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The following table sets forth information concerning balances and interest rates on our borrowings at and for the years indicated: 

	At or For the Years Ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Balance at end of year	$	473,206		$	558,129		$	778,658
Average balance during year	$	491,802		$	594,926		$	588,890
Maximum outstanding at any month end	$	529,988		$	760,088		$	830,092
Weighted average interest rate at end of year	1.44		%	1.57		%	1.42		%
Weighted average interest rate during year	1.50		%	1.56		%	1.69		%

Employees

As of December 31, 2016, we had 330 full-time employees and 36 part-time employees.  Our employees are not represented by any collective bargaining group.  Management believes that we have a good working relationship with our employees.

Subsidiary Activities

Northfield-Bancorp, Inc. owns 100% of Northfield Investments, Inc., an inactive New Jersey investment company, and 100% of Northfield Bank.  Northfield Bank owns 100% of NSB Services Corp., a Delaware corporation, which in turn owns 100% of the voting common stock of NSB Realty Trust. NSB Realty Trust is a Maryland real estate investment trust that holds mortgage loans, mortgage-backed securities and other investments. These entities enable us to segregate certain assets for management purposes, and promote our ability to raise capital in the future through the sale of preferred stock or other capital-enhancing securities or borrow against assets or stock of these entities for liquidity purposes. At December 31, 2016, Northfield Bank’s investment in NSB Services Corp. was $695.0 million, and NSB Services Corp. had assets of $704.9 million and liabilities of $9.8 million at that date. At December 31, 2016, NSB Services Corp.’s investment in NSB Realty Trust was $704.7 million, and NSB Realty Trust had $704.7 million in assets, and liabilities of $16,000 at that date.

Legal Proceedings

In the normal course of business, we may be party to various outstanding legal proceedings and claims. In the opinion of management, the consolidated financial statements will not be materially affected by the outcome of such legal proceedings and claims as of December 31, 2016.  

Expense and Tax Allocation Agreements

Northfield Bank has an agreement with Northfield Bancorp, Inc. to provide it with certain administrative support services, whereby Northfield Bank will be compensated at not less than the fair market value of the services provided.  In addition, Northfield Bank and Northfield Bancorp, Inc. have an agreement for allocating and reimbursing Northfield Bancorp, Inc. for Northfield Bank's portion of its consolidated tax liability.

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SUPERVISION AND REGULATION

General

Northfield Bank is a federally chartered savings bank that is regulated, examined, and supervised by the OCC and the FDIC. This regulation and supervision establishes a comprehensive framework of activities in which an institution may engage and is intended primarily for the protection of the FDIC’s deposit insurance fund and depositors, and not for the protection of security holders. Under this system of federal regulation, financial institutions are periodically examined to ensure that they satisfy applicable standards with respect to their capital adequacy, assets, management, earnings, liquidity, and sensitivity to market interest rates. Northfield Bank also is regulated to a lesser extent by the FRB, governing reserves to be maintained against deposits and other matters, including payments of dividends and the repurchase of shares of common stock. The OCC examines Northfield Bank and prepares reports for the consideration of its board of directors on any operating deficiencies. Northfield Bank’s relationship with its depositors and borrowers also is regulated to a great extent by federal law and, to a much lesser extent, state law, especially in matters concerning the ownership of deposit accounts and the form and content of Northfield Bank’s loan documents. Northfield Bank is also a member of and owns stock in the FHLB of New York, which is one of the 11 regional banks in the Federal Home Loan Bank System.

As a savings and loan holding company, Northfield Bancorp, Inc. is required to comply with the rules and regulations of the FRB.  It is required to file certain reports with and is subject to examination by and the enforcement authority of the FRB. Northfield Bancorp, Inc. is also subject to the rules and regulations of the Securities and Exchange Commission under the federal securities laws.

Any change in applicable laws or regulations, whether by the FDIC, the OCC, the FRB, or Congress, could have a material adverse effect on Northfield Bancorp, Inc. and Northfield Bank and their operations.

Set forth below is a brief description of material regulatory requirements that are or will be applicable to Northfield Bank and Northfield Bancorp, Inc. The description is limited to certain material aspects of the statutes and regulations addressed and is not intended to be a complete description of such statutes and regulations and their effects on Northfield Bank and Northfield Bancorp, Inc.

Business Activities

A federal savings bank derives its lending and investment powers from the Home Owners’ Loan Act, as amended, and the regulations of the OCC. Under these laws and regulations, Northfield Bank may originate mortgage loans secured by residential and commercial real estate, commercial business loans, and consumer loans, and it may invest in certain types of debt securities and certain other assets. Certain types of lending, such as commercial and consumer loans, are subject to aggregate limits calculated as a specified percentage of Northfield Bank’s capital or assets. Northfield Bank also may establish subsidiaries that may engage in a variety of activities, including some that are not otherwise permissible for Northfield Bank, including real estate investment and securities and insurance brokerage.

Loans-to-One-Borrower

We generally may not make a loan or extend credit to a single or related group of borrowers in excess of 15% of Northfield Bank’s unimpaired capital and unimpaired surplus. An additional amount may be loaned, equal to 10% of unimpaired capital and unimpaired surplus, if the loan is secured by readily marketable collateral, which is defined to include certain financial instruments and bullion, but generally does not include real estate. As of December 31, 2016, we were in compliance with our loans-to-one-borrower limitations.

Qualified Thrift Lender Test

Northfield Bank is required to satisfy a qualified thrift lender (QTL) test, under which we either must qualify as a “domestic building and loan” association as defined by the Internal Revenue Code or maintain at least 65% of our “portfolio assets” in “qualified thrift investments.” “Qualified thrift investments” consist primarily of residential mortgages and related investments, including mortgage-backed and related securities. “Portfolio assets” generally mean total assets less specified liquid assets up to 20% of total assets, goodwill, and other intangible assets and the value of property used to conduct business. A savings institution that fails the qualified thrift lender test must operate under specified restrictions. The Dodd-Frank Act made noncompliance with the QTL test also subject to agency enforcement action for a violation of law. As of December 31, 2016, we maintained 80.3% of our portfolio assets in qualified thrift investments and, therefore, we met the QTL test.

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Standards for Safety and Soundness 

Federal law requires each federal banking agency to prescribe for insured depository institutions under its jurisdiction standards relating to, among other things, internal controls, information systems and internal audit systems, loan documentation, credit underwriting, interest rate risk exposure, asset growth, employee compensation, and other operational and managerial standards as the agency deems appropriate. The federal banking agencies adopted Interagency Guidelines Prescribing Standards for Safety and Soundness to implement the safety and soundness standards required under federal law.  The guidelines set forth the safety and soundness standards that the federal banking agencies use to identify and address problems at insured depository institutions before capital becomes impaired. If the appropriate federal banking agency determines that an institution fails to meet any standard prescribed by the guidelines, the agency may require the institution to submit to the agency an acceptable plan to achieve compliance with the standard. If an institution fails to submit or implement an acceptable plan, the appropriate federal banking agency may issue an enforceable order requiring correction of the deficiencies.

Capital Requirements

Federal regulations require federally insured depository institutions to meet several minimum capital standards: a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, a total capital to risk-based assets of 8.0%, and a 4.0% Tier 1 capital to total assets leverage ratio. These capital requirements were effective January 1, 2015, and are the result of a final rule implementing recommendations of the Basel Committee on Banking Supervision and certain requirements of the Dodd-Frank Act.

In determining the amount of risk-weighted assets for purposes of calculating risk-based capital ratios, all assets, including certain off-balance sheet assets (e.g., recourse obligations, direct credit substitutes, residual interests) are multiplied by a risk weight factor assigned by the regulations based on the risks believed inherent in the type of asset. Higher levels of capital are required for asset categories believed to present greater risk. Common equity Tier 1 capital generally is defined as common stockholders’ equity and retained earnings. Tier 1 capital generally is defined as common equity Tier 1 plus additional Tier 1 capital. Additional Tier 1 capital includes certain noncumulative perpetual preferred stock and related surplus and minority interests in equity accounts of consolidated subsidiaries. Total capital includes Tier 1 capital (common equity Tier 1 capital plus additional Tier 1 capital) and Tier 2 capital. Tier 2 capital is comprised of capital instruments and related surplus, meeting specified requirements, and may include cumulative preferred stock and long-term perpetual preferred stock, mandatory convertible securities, intermediate preferred stock and subordinated debt. Also included in Tier 2 capital is the allowance for loan and lease losses limited to a maximum of 1.25% of risk-weighted assets. In assessing an institution’s capital adequacy, the OCC takes into consideration, not only these numeric factors, but qualitative factors as well, and has the authority to establish higher capital requirements for individual institutions when deemed necessary.

In addition to establishing the minimum regulatory capital requirements, the regulations limit capital distributions and certain discretionary bonus payments to management if the institution does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital to risk-weighted asset above the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement was phased in beginning January 1, 2016, at 0.625% of risk-weighted assets and increases each year until fully implemented at 2.5% on January 1, 2019.

Prompt Corrective Regulatory Action

Federal law requires, among other things, that federal bank regulators take “prompt corrective action” with respect to institutions that do not meet minimum capital requirements. For this purpose, the law establishes five capital categories: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. OCC regulations were amended to incorporate the previously mentioned increased regulatory capital standards that were effective January 1, 2015. Under the amended regulations, an institution is deemed to be “well capitalized” if it has a total risk-based capital ratio of 10.0% or greater, a Tier 1 risk-based capital ratio of 8.0% or greater, a leverage ratio of 5.0% or greater and a common equity Tier 1 ratio of 6.5% or greater. An institution is “adequately capitalized” if it has a total risk-based capital ratio of 8.0% or greater, a Tier 1 risk-based capital ratio of 6.0% or greater, a leverage ratio of 4.0% or greater and a common equity Tier 1 ratio of 4.5% or greater. An institution is “undercapitalized” if it has a total risk-based capital ratio of less than 8.0%, a Tier 1 risk-based capital ratio of less than 6.0%, a leverage ratio of less than 4.0% or a common equity Tier 1 ratio of less than 4.5%. An institution is deemed to be “significantly undercapitalized” if it has a total risk-based capital ratio of less than 6.0%, a Tier 1 risk-based capital ratio of less than 4.0%, a leverage ratio of less than 3.0% or a common equity Tier 1 ratio of less than 3.0%. An institution is considered to be “critically undercapitalized” if it has a ratio of tangible equity (as defined in the regulations) to total assets that is equal to or less than 2.0%.

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The regulations provide that a capital restoration plan must be filed with the OCC within 45 days of the date a savings institution receives notice that it is “undercapitalized,” “significantly undercapitalized” or “critically undercapitalized.” Any holding company for the savings institution required to submit a capital restoration plan must guarantee the lesser of an amount equal to 5.0% of the savings institution’s assets at the time it was notified or deemed to be undercapitalized by the OCC, or the amount necessary to restore the savings institution to adequately capitalized status. This guarantee remains in place until the OCC notifies the savings institution that it has maintained adequately capitalized status for each of four consecutive calendar quarters, and the OCC has the authority to require payment and collect payment under the guarantee. Various restrictions, including on growth and capital distributions, also apply to “undercapitalized” institutions. If an “undercapitalized” institution fails to submit an acceptable capital plan, it is treated as “significantly undercapitalized.” “Significantly undercapitalized” institutions must comply with one or more additional restrictions including, but not limited to, an order by the OCC to sell sufficient voting stock to become adequately capitalized, requirements to reduce total assets, cease receipt of deposits from correspondent banks or dismiss officers or directors and restrictions on interest rates paid on deposits, compensation of executive officers and capital distributions by the parent holding company. The OCC may also take any one of a number of discretionary supervisory actions against undercapitalized institutions, including the issuance of a capital directive and the replacement of senior executive officers and directors.

Capital Distributions

Federal regulations restrict “capital distributions” by savings institutions. For purposes of the regulations, capital distributions generally include cash dividends and other transactions charged to the capital account of a savings institution. A federal savings institution must file an application with the OCC for approval of the capital distribution if:

• the total capital distributions for the applicable calendar year exceeds the sum of the institution’s net income for that year to date plus the institution’s retained net income for the preceding two years that is still available for dividend;

• the institution would not be at least adequately capitalized following the distribution;

• the distribution would violate any applicable statute, regulation, agreement or written regulatory condition; or

• the institution is not eligible for expedited review of its filings (i.e., generally, institutions that do not have safety and soundness, compliance and Community Reinvestment Act ratings in the top two categories or fail a capital requirement).

A savings institution that is a subsidiary of a holding company, which is the case with Northfield Bank, must file a notice with the FRB at least 30 days before the board of directors declares a dividend or approves a capital distribution and receive FRB non-objection to the payment of the dividend.

Applications or notices may be denied if the institution will be undercapitalized after the proposed dividend, the proposed dividend raises safety and soundness concerns or the proposed dividend would violate a law, regulation enforcement order, or regulatory condition.

In the event that a savings institution’s capital falls below its regulatory requirements or it is notified by the regulatory agency that it is in need of more than normal supervision, its ability to make capital distributions would be restricted. In addition, any proposed capital distribution could be prohibited if the regulatory agency determines that the distribution would constitute an unsafe or unsound practice.

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Transactions with Related Parties

A savings institution’s authority to engage in transactions with related parties or “affiliates” is limited by Sections 23A and 23B of the Federal Reserve Act and its implementing regulation, FRB Regulation W. The term “affiliate” generally means any company that controls or is under common control with an institution, including Northfield Bancorp, Inc. and its non-savings institution subsidiaries (although certain subsidiaries of the institution itself are not considered affiliates). Applicable law limits the aggregate amount of “covered” transactions with any individual affiliate, including loans to the affiliate, to 10% of the capital and surplus of the savings institution. The aggregate amount of covered transactions with all affiliates is limited to 20% of the savings institution’s capital and surplus. Certain covered transactions with affiliates, such as loans to or guarantees issued on behalf of affiliates, are required to be secured by specified amounts of collateral. Purchasing low quality assets from affiliates is generally prohibited. Regulation W also provides that transactions with affiliates, including covered transactions, must be on terms and under circumstances, including credit standards, that are substantially the same or at least as favorable to the institution as those prevailing at the time for comparable transactions with non-affiliated companies. In addition, savings institutions are prohibited by law from lending to any affiliate that is engaged in activities that are not permissible for bank holding companies and no savings institution may purchase the securities of any affiliate other than a subsidiary.

Authority to extend credit to executive officers, directors and 10% or greater shareholders (insiders), as well as entities controlled by insiders, is governed by Sections 22(g) and 22(h) of the Federal Reserve Act and its implementing regulation, FRB Regulation O. Among other things, loans to insiders must be made on terms substantially the same as those offered to unaffiliated individuals and not involve more than the normal risk of repayment. There is an exception for bank-wide lending programs that do not discriminate in favor of insiders. Regulation O also places individual and aggregate limits on the amount of loans that may be made to insiders based, in part, on the institution’s capital position, and requires that certain prior board approval procedures be followed. Extensions of credit to executive officers are subject to additional restrictions on the types and amounts of loans that may be made. At December 31, 2016, Northfield Bank was in compliance with these regulations.

Enforcement

The OCC has primary enforcement responsibility over federal savings institutions, including the authority to bring enforcement action against “institution-related parties,” including officers, directors, certain shareholders, and attorneys, appraisers and accountants who knowingly or recklessly participate in wrongful action likely to have an adverse effect on an insured institution. Formal enforcement action may range from the issuance of a capital directive or cease and desist order to removal of officers and/or directors of the institution, receivership, conservatorship or the termination of deposit insurance.  Civil penalties cover a wide range of violations and actions, and range up to $25,000 per day, unless a finding of reckless disregard is made, in which case penalties may be as high as $1 million per day.

Deposit Insurance

Northfield Bank is a member of the Deposit Insurance Fund, which is administered by the FDIC. Deposit accounts in Northfield Bank are insured up to a maximum of $250,000 for each separately insured depositor by the FDIC.

The FDIC assesses insured depository institutions to maintain the Deposit Insurance Fund. Under the FDIC’s risk-based assessment system, institutions deemed less risky pay lower assessments. Assessments for institutions with less than $10 billion of assets are now based on financial measures and supervisory ratings derived from statistical modeling estimating the probability of an institution’s failure within three years. That system, effective July 1, 2016, replaced the previous system under which institutions were placed into risk categories.

The Dodd-Frank Act required the FDIC to revise its procedures to base assessments upon each insured institution’s total assets less tangible equity instead of deposits. The FDIC finalized a rule, effective April 1, 2011, that set the assessment range at 2.5 to 45 basis points of total assets less tangible equity. In conjunction with the Deposit Insurance Fund’s reserve ratio achieving 1.15%, the assessment range (inclusive of possible adjustments) was reduced for insured institutions of less than $10 billion of total assets to 1.5 basis points to 30 basis points, effective July 1, 2016.

The Dodd-Frank Act increased the minimum target Deposit Insurance Fund ratio from 1.15% of estimated insured deposits to 1.35% of estimated insured deposits. The Federal Deposit Insurance Corporation must seek to achieve the 1.35% ratio by September 30, 2020. The Dodd-Frank Act requires insured institutions with assets of $10 billion or more to fund the increase from 1.15% to 1.35% and, effective July 1, 2016, such institutions are subject to a surcharge to achieve that goal. The Dodd-Frank Act eliminated the 1.5% maximum fund ratio, instead leaving it to the discretion of the Federal Deposit Insurance

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Corporation, and the Federal Deposit Insurance Corporation has exercised that discretion by establishing a long-range fund ratio of 2%.

The FDIC has authority to increase insurance assessments. Any significant increases would have an adverse effect on the operating expenses and results of operations of Northfield Bank. Future insurance assessments cannot be predicted.

Insurance of deposits may be terminated by the FDIC upon a finding that an institution has engaged in unsafe or unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, rule, order or condition imposed in writing. Management of Northfield Bank does not know of any practice, condition, or violation that may lead to termination of the Company's deposit insurance.

In addition to the FDIC assessments, the Financing Corporation is authorized to impose and collect, through the FDIC, assessments for anticipated payments, issuance costs and custodial fees on bonds issued by the Financing Corporation in the 1980s to recapitalize the former Federal Savings and Loan Insurance Corporation. The bonds issued by the Financing Corporation are due to mature in 2017 through 2019. For the quarter ended December 31, 2016, the annualized Financing Corporation assessment was equal to 0.56 basis points of total quarterly average assets less quarterly average tangible capital.

Federal Home Loan Bank System

Northfield Bank is a member of the FHLB of New York, and therefore is a member of the Federal Home Loan Bank System, which consists of 11 regional Federal Home Loan Banks. The Federal Home Loan Bank System provides a central credit facility primarily for member institutions. Members of the FHLB are required to acquire and hold a specified amount of shares of FHLB capital stock. Northfield Bank was in compliance with this requirement at December 31, 2016.

Community Reinvestment Act and Fair Lending Laws

Savings institutions have a responsibility under the Community Reinvestment Act and related regulations to help meet the credit needs of their communities, including low- and moderate-income neighborhoods. An institution’s failure to comply with the provisions of the Community Reinvestment Act could, at a minimum, result in regulatory restrictions on certain activities such as branching and acquisitions. In the most recent Community Reinvestment Act Public Disclosure issued by the OCC on August 13, 2013, Northfield Bank was rated “Satisfactory”. Northfield Bank underwent a Community Reinvestment Act regulatory examination in December of 2016, for which the OCC has not yet issued their report.

Other Regulations

Interest and other charges collected or contracted for by Northfield Bank are subject to state usury laws and federal laws concerning interest rates. Northfield Bank’s operations are also subject to federal laws applicable to credit transactions, such as the:

• Truth-In-Lending Act, governing disclosures of credit terms to consumer borrowers;

• Real Estate Settlement Procedures Act, requiring that borrowers for mortgage loans for one-to-four family residential real estate receive various disclosures, including good faith estimates of settlement costs, lender servicing and escrow account practices, and prohibiting certain practices that increase the cost of settlement services;

• Home Mortgage Disclosure Act, requiring financial institutions to provide information to enable the public and public officials to determine whether a financial institution is fulfilling its obligation to help meet the housing needs of the community it serves;

• Equal Credit Opportunity Act and the Fair Housing Act, prohibiting discrimination on the basis of race, creed or other prohibited factors in extending credit;

• Fair Credit Reporting Act, governing the use and provision of information to credit reporting agencies;

• Fair Debt Collection Act, governing the manner in which consumer debts may be collected by collection agencies;

• Flood Disaster Protection Act, requiring flood insurance of collateral properties located in designated flood zones; and

• Rules and regulations of the various federal agencies charged with the responsibility of implementing such federal laws.

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The operations of Northfield Bank also are subject to the:

• Truth in Savings Act;

• Right to Financial Privacy Act, which imposes a duty to maintain confidentiality of consumer financial records and prescribes procedures for complying with administrative subpoenas of financial records;

• Electronic Funds Transfer Act, which governs automatic deposits to and withdrawals from deposit accounts and customers’ rights and liabilities arising from the use of automated teller machines and other electronic banking services;

• Check Clearing for the 21st Century Act (also known as Check 21), which gives “substitute checks,” such as digital check images and copies made from that image, the same legal standing as the original paper check;

• The USA PATRIOT Act, which requires banks and savings institutions to, among other things, establish broadened anti-money laundering compliance programs and due diligence policies and controls to ensure the detection and reporting of money laundering. Such required compliance programs are intended to supplement pre-existing compliance requirements that apply to financial institutions under the Bank Secrecy Act and the Office of Foreign Assets Control regulations; and

• The Gramm-Leach-Bliley Act, which places limitations on the sharing of consumer financial information by financial institutions with unaffiliated third parties and requires all financial institutions offering products or services to retail customers to provide such customers with the financial institution’s privacy policy and allow such customers the opportunity to “opt out” of the sharing of certain personal financial information with unaffiliated third parties.

Holding Company Regulation

Northfield Bancorp, Inc. is a unitary savings and loan holding company subject to regulation and supervision by the FRB.  The FRB has enforcement authority over Northfield Bancorp, Inc. and its non-savings institution subsidiaries.  Among other things, that authority permits the FRB to restrict or prohibit activities that are determined to be a risk to Northfield Bank.

As a savings and loan holding company, Northfield Bancorp, Inc.'s activities are limited to those activities permissible by law for financial holding companies (if Northfield Bancorp elects financial holding company status and otherwise qualifies to be a financial holding company) or multiple savings and loan holding companies.  A financial holding company may engage in activities that are financial in nature, incidental to financial activities or complementary to a financial activity. Such activities include lending and other activities permitted for bank holding companies under Section 4(c)(8) of the Bank Holding Company Act, insurance and underwriting equity securities. The Dodd-Frank Act added that any savings and loan holding company that engages in activities that are solely permissible for a financial holding company must meet the qualitative requirements for a bank holding company to be a financial holding company and conduct the activities in accordance with the requirements that would apply to a financial holding company’s conduct of the activity. Multiple savings and loan companies are authorized to engage in activities specified by FRB regulation, including activities permitted for bank holding companies under Section 4(c)(8) of the Bank Holding Company Act.

Federal law prohibits a savings and loan holding company, directly or indirectly, or through one or more subsidiaries, from acquiring more than 5% of another savings institution or savings and loan holding company without prior written approval of the FRB and from acquiring or retaining control of any depository not insured by the FDIC. In evaluating applications by holding companies to acquire savings institutions, the FRB must consider such things as the financial and managerial resources and future prospects of the company and institution involved, the effect of the acquisition on and the risk to the federal deposit insurance fund, the convenience and needs of the community and competitive factors. An acquisition by a savings and loan holding company of a savings institution in another state to be held as a separate subsidiary may not be approved unless it is a supervisory acquisition under Section 13(k) of the Federal Deposit Insurance Act or the law of the state in which the target is located authorizes such acquisitions by out-of-state companies.

Savings and loan holding companies have not historically been subjected to consolidated regulatory capital requirements. However, the Dodd-Frank Act requires the FRB to set for all depository institution holding companies minimum consolidated capital levels that are as stringent as those required for the insured depository subsidiaries. The previously discussed final rule regarding regulatory capital requirements implements the Dodd-Frank Act as to savings and loan holding companies.  Consolidated regulatory capital requirements identical to those applicable to the subsidiary depository institutions applied to savings and loan holding companies as of January 1, 2015.  As is the case with institutions themselves, the capital

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conservation buffer is being phased in between 2016 and 2019. Northfield Bancorp, Inc. exceeded the FRB’s consolidated capital requirements as of December 31, 2016.

The Dodd-Frank Act extended the “source of strength” doctrine to savings and loan holding companies. The FRB has issued regulations implementing the “source of strength” policy that requires holding companies act as a source of strength to their subsidiary depository institutions by providing capital, liquidity, and other support in times of financial stress.

The FRB has issued a policy statement regarding the payment of dividends and the repurchase of shares of common stock by bank and savings and loan holding companies. In general, the policy provides that dividends should be paid only out of current earnings and only if the prospective rate of earnings retention by the holding company appears consistent with the organization’s capital needs, asset quality and overall financial condition.  Regulatory guidance provides for prior regulatory review of capital distributions in certain circumstances such as where the company’s net income for the past four quarters, net of dividends previously paid over that period, is insufficient to fully fund the dividend or the company’s overall rate of earnings retention is inconsistent with the company’s capital needs and overall financial condition. The ability of a holding company to pay dividends may be restricted if a subsidiary bank becomes undercapitalized. The policy statement also specifies that a holding company should advise FRB supervisory staff prior to redeeming or repurchasing common or perpetual preferred stock when the holding company is experiencing financial weaknesses or redeeming or repurchasing common stock or perpetual preferred stock such that the repurchase or redemption would result in a net reduction as of the end of a quarter in the amount of such equity instruments outstanding compared with the beginning of the quarter in which the redemption or repurchase occurs. These regulatory policies could affect the ability of Northfield Bancorp, Inc. to pay dividends, repurchase common stock or otherwise engage in capital distributions.

Federal Securities Laws

Northfield Bancorp, Inc.’s common stock is registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Northfield Bancorp, Inc. is subject to the information, proxy solicitation, insider trading restrictions, and other requirements under the Securities Exchange Act of 1934.

Sarbanes-Oxley Act of 2002

The Sarbanes-Oxley Act of 2002 addresses, among other issues, corporate governance, auditing and accounting, executive compensation, and enhanced and timely disclosure of corporate information.  As directed by the Sarbanes-Oxley Act, our Chief Executive Officer and Chief Financial Officer are required to certify that our quarterly and annual reports do not contain any untrue statement of a material fact.  The rules adopted by the Securities and Exchange Commission under the Sarbanes-Oxley Act have several requirements, including having these officers certify that: (i) they are responsible for establishing, maintaining and regularly evaluating the effectiveness of our disclosure controls and procedures and internal control over financial reporting; (ii) they have made certain disclosures to our auditors and the audit committee of the board of directors about our internal control over financial reporting; and (iii) they have included information in our quarterly and annual reports about the effectiveness of our disclosure controls and procedures and whether there have been any changes in our internal control over financial reporting or in other factors that could materially affect internal control over financial reporting.

Change in Control Regulations

Under the Change in Bank Control Act, no person may acquire control of a savings and loan holding company, such as Northfield Bancorp, Inc., unless the FRB has been given 60 days prior written notice and has not issued a notice disapproving the proposed acquisition, taking into consideration certain factors, including the financial and managerial resources of the acquirer and the competitive effects of the acquisition.  Control, as defined under federal law, means ownership, control of or holding irrevocable proxies representing more than 25% of any class of voting stock, control in any manner of the election of a majority of the institution’s directors, or a determination by the regulator that the acquirer has the power to direct, or directly or indirectly to exercise a controlling influence over, the management or policies of the institution. Acquisition of more than 10% of any class of a savings and loan holding company’s voting stock constitutes a rebuttable determination of control under the regulations under certain circumstances including where, as is the case with Northfield Bancorp, Inc., the issuer has registered securities under Section 12 of the Securities Exchange Act of 1934.

In addition, federal regulations provide that no company may acquire control of a savings and loan holding company without the prior approval of the FRB. Any company that acquires such control becomes a “savings and loan holding company” subject to registration, examination, and regulation by the FRB.

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TAXATION

Federal Taxation

General. Northfield Bank and Northfield Bancorp, Inc. are subject to federal income taxation in the same general manner as other corporations, with some exceptions discussed below.  The following discussion of federal taxation is intended only to summarize certain pertinent federal income tax matters and is not a comprehensive description of the tax rules applicable to Northfield Bancorp, Inc. or Northfield Bank.

Northfield Bancorp, Inc.'s consolidated federal tax returns are not currently under audit.

Method of Accounting. For federal income tax purposes, Northfield Bancorp, Inc. currently reports its income and expenses on the accrual method of accounting and uses a tax year ending December 31 for filing its federal and state income tax returns.

Bad Debt Reserves.Historically, Northfield Bank was subject to special provisions in the tax law applicable to qualifying savings banks regarding allowable tax bad debt deductions and related reserves. Tax law changes were enacted in 1996 that eliminated the ability of savings banks to use the percentage of taxable income method for computing tax bad debt reserves for tax years after 1995, and required recapture into taxable income over a six-year period of all bad debt reserves accumulated after a savings bank’s last tax year beginning before January 1, 1988. Northfield Bank recaptured its post December 31, 1987, bad-debt reserve balance over the six-year period ended December 31, 2004.

Northfield Bancorp, Inc. is required to use the specific charge-off method to account for tax bad debt deductions.

Taxable Distributions and Recapture.Prior to 1996, bad debt reserves created prior to 1988 were subject to recapture into taxable income if Northfield Bank failed to meet certain thrift asset and definitional tests or made certain distributions. Tax law changes in 1996 eliminated thrift-related recapture rules. However, under current law, pre-1988 tax bad debt reserves remain subject to recapture if Northfield Bank makes certain non-dividend distributions, repurchases any of its common stock, pays dividends in excess of earnings and profits, or fails to qualify as a “bank” for tax purposes. At December 31, 2016, the total federal pre-base year bad debt reserve of Northfield Bank was approximately $5.9 million.

Alternative Minimum Tax. The Internal Revenue Code of 1986, as amended, imposes an alternative minimum tax at a rate of 20% on a base of regular taxable income plus certain tax preferences, less any available exemption. The alternative minimum tax is imposed to the extent it exceeds the regular income tax. Net operating losses can offset no more than 90% of alternative taxable income. Certain payments of alternative minimum tax may be used as credits against regular tax liabilities in future years. Northfield Bancorp, Inc.’s consolidated group has not been subject to the alternative minimum tax and has no such amounts available as credits for carryover.

Net Operating Loss Carryovers. A financial institution may carry back net operating losses to the preceding two taxable years and forward to the succeeding 20 taxable years. At December 31, 2016, Northfield Bancorp, Inc.’s consolidated group had no net operating loss carryforwards for federal income tax purposes.

Corporate Dividends-Received Deduction. Northfield Bancorp, Inc. may exclude from its federal taxable income 100% of dividends received from Northfield Bank as a wholly-owned subsidiary by filing consolidated tax returns.  The corporate dividends-received deduction is 80% when the corporation receiving the dividend owns at least 20% of the stock of the distributing corporation. The dividends-received deduction is 70% when the corporation receiving the dividend owns less than 20% of the distributing corporation.

State Taxation

In 2014, New York State (“NYS”) enacted several reforms (the “Tax Reform Package”) to its tax structure, including changes to the franchise, sales, estate, and personal income taxes. These changes were effective on January 1, 2015. The Tax Reform Package is intended to simplify the existing corporate tax code for NYS businesses while remaining relatively neutral in relation to corporate tax receipts.

Under the Tax Reform Package, the NYS corporate income tax rate dropped, effective January 1, 2016, from 7.10% to 6.50%. Effective January 1, 2015, the Metropolitan Transportation Authority (“MTA”) Tax Surcharge rate allocable to business activities carried on in the Metropolitan Commuter Transportation District increased from 17.0% to 25.6%. The MTA

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surcharge rate for years beginning on or after January 1, 2016 was 28% and for tax years beginning on or after January 1, 2017, and before January 1, 2018, the MTA surcharge rate has increased from 28% to 28.3%.

Some of the most significant elements of the Tax Reform Package include the merger of the bank tax into the general corporate franchise tax, expanded application of economic nexus, adoption of water’s-edge unitary reporting, and apportionment of source income solely by reference to customer location.

Merger of the Bank Tax into the Corporate Franchise Tax. NYS has historically imposed a franchise tax on general business corporations, commonly referred to as the “Article 9-A Corporate Franchise Tax,” and a separate franchise tax on banking corporations, commonly referred to as the “Article 32 Bank Tax.” Under these statutes, NYS financial service companies and banks are taxed under different regimes, even though the Gramm-Leach-Bliley Act, which became federal law in 1999, changed the federal regulatory system to permit the cross-ownership of finance and banking firms.

The Tax Reform Package repeals the Article 32 Bank Tax, merging it into the Article 9-A Corporate Franchise Tax. It also makes several modifications to the Article 9-A Corporate Franchise Tax to accommodate the merger, most notably providing a choice between two potential financial institution tax deductions: 1) a deduction equal to 32% of modified NYS taxable income available to all thrifts and banks with assets that do not exceed $8 billion; and 2) a deduction based upon 50% of the net interest income received from loans secured by real estate located in NYS or business loans made to NYS borrowers with a principal amount of less than $5 million. Alternatively, for financial institutions with assets that do not exceed $8 billion that owned a captive real estate investment trust (“REIT) as of April 1, 2014, the Tax Reform Package preserves the ability to exclude a percentage of dividends received from the REIT in determining NYS taxable income and increases this exclusion from the current level of 60% to 160% for tax years beginning on or after January 1, 2015. Financial institutions that continue to maintain these grandfathered REITs are prohibited from claiming either of the two financial institution tax deductions described above.

Consequently, under the revised Article 9-A Corporate Franchise Tax structure, for tax years beginning on or after January 1, 2015, the Bank will be required to claim the 160% exclusion for dividends received from its captive REIT subsidiary for any year the REIT remains in existence. If the REIT is liquidated, then the Bank will be entitled to choose on an annual basis between: 1) the 32% of modified taxable income deduction; or 2) the deduction based on 50% of the net interest income received from NYS real estate loans and small commercial loans to NYS customers.

Expansion of the Application of Economic Nexus. The Tax Reform Package requires that all companies availing themselves of the NYS market, referred to as having an “economic nexus with New York,” will be subject to NYS tax, regardless of whether they have any other connection with NYS. A corporation could thus become a NYS taxpayer without a physical presence in NYS.

Adoption of a Full Water’s-Edge Unitary Combined Filing. The Tax Reform Package requires all firms meeting an ownership test of 50% or more be deemed a unitary business and required to file a combined tax return. Substantial intercompany transactions are eliminated, and a domestic corporation without any assets or customers in NYS, but engaged in a unitary business with a related New York taxpayer, would become part of the NYS unitary group.

Source Income Solely by Reference to the Location of the Customer. The Tax Reform Package requires business income to be apportioned to and taxed by NYS using a single receipts factor based on the customer’s location. These provisions also contain favorable apportionment rules for asset-backed securities that will be beneficial to the Bank.

Northfield Bank reports income on a calendar year basis to New York City (NYC).  In 2015, NYC enacted corporate tax reforms, which are effective retroactive for tax years beginning on or after January 1, 2015. NYC generally conforms its tax law to NYS tax law and adopted conforming Tax Reform Package provisions similar to those described above for NYS. For tax years beginning on or after January 1, 2015, the NYC income tax rate applied to the Company apportioned NYC taxable income is 8.85%.

Our NYS and NYC tax returns are currently under audit for tax years 2010 through 2012.

Northfield Bancorp, Inc. and Northfield Bank file New Jersey Corporation Business Tax returns on a calendar year basis.  Generally, the income derived from New Jersey sources is subject to New Jersey tax. Northfield Bancorp, Inc. and Northfield Bank pay the greater of the corporate business tax at 9% of taxable income or the minimum tax of $1,200 per entity.

As a Delaware business corporation, Northfield Bancorp, Inc. is required to file an annual report with and pay franchise taxes to the state of Delaware. 

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ITEM 1A. RISK FACTORS

The material risks and uncertainties that management believes affect us are described below.  You should carefully consider the risks and uncertainties described below, together with all of the other information included or incorporated by reference herein.  The risks and uncertainties described below are not the only ones facing us.  Additional risks and uncertainties that management is not aware of or focused on or that management currently deems immaterial may also impair our business operations.  This report is qualified in its entirety by these risk factors.  See also, “Forward-Looking Statements.”

The level of our commercial real estate loan portfolio subjects us to additional regulatory scrutiny.

The OCC and the other federal bank regulatory agencies have promulgated joint guidance on sound risk management practices for financial institutions with concentrations in commercial real estate lending.  Under the guidance, a financial institution that, like us, is actively involved in commercial real estate lending should perform a risk assessment to identify concentrations. A financial institution may have a concentration in commercial real estate lending if, among other factors, (i) total reported loans for construction, land acquisition and development, and other land represent 100% or more of total capital, or (ii) total reported loans secured by multifamily and non-farm residential properties, loans for construction, land acquisition and development and other land, and loans otherwise sensitive to the general commercial real estate market, including loans to commercial real estate related entities, represent 300% or more of total capital.  Based on these factors we have a concentration in multifamily and commercial real estate lending, as such loans represent 374% of Northfield Bank's capital as of December 31, 2016. The particular focus of the guidance is on exposure to commercial real estate loans that are dependent on the cash flow from the real estate held as collateral and that are likely to be at greater risk to conditions in the commercial real estate market (as opposed to real estate collateral held as a secondary source of repayment or as an abundance of caution).  The purpose of the guidance is to guide banks in developing risk management practices and capital levels commensurate with the level and nature of real estate concentrations.  The guidance states that management should employ heightened risk management practices including board and management oversight and strategic planning, development of underwriting standards, risk assessment, and monitoring through market analysis and stress testing.  While we believe we have implemented policies and procedures with respect to our commercial real estate loan portfolio consistent with this guidance, bank regulators could require us to implement additional policies and procedures consistent with their interpretation of the guidance that may result in additional costs to us or that may result in a curtailment of our multifamily and commercial real estate lending and/or the requirement that we maintain higher levels of regulatory capital, either of which would adversely affect our loan originations and profitability.

Our concentration in multifamily loans and commercial real estate loans could expose us to increased lending risks and related loan losses.

Our current business strategy is to continue to originate multifamily loans and to a lesser extent other commercial real estate loans. At December 31, 2016, $1.92 billion, or 89.5% of our originated total loan portfolio held-for-investment, net, consisted of multifamily and other commercial real estate loans.

These types of loans generally expose a lender to greater risk of non-payment and loss than one-to-four family residential mortgage loans because repayment of the loans often depends on the successful operation of the properties and the sale of such properties securing the loans. Such loans typically involve larger loan balances to single borrowers or groups of related borrowers compared to one-to-four family residential mortgage loans. Also, many of our borrowers have more than one of these types of loans outstanding. Consequently, an adverse development with respect to one loan or one credit relationship can expose us to a significantly greater risk of loss compared to an adverse development with respect to a one-to-four family residential real estate loan.

In addition, if loans that are collateralized by real estate become troubled and the value of the real estate has been significantly impaired, then we may not be able to recover the full contractual amount of principal and interest that we anticipated at the time we originated the loan, which could cause us to increase our provision for loan losses and adversely affect our operating results and financial condition.

A significant portion of our loan portfolio is unseasoned. It is difficult to judge the future performance of unseasoned loans.

Our net loan portfolio has grown to $2.94 billion at December 31, 2016, from $1.22 billion at December 31, 2012. A large portion of this increase is due to increases in multifamily real estate loans. It is difficult to assess the future performance of these recently originated loans. These loans may experience higher delinquency or charge-off levels than our historical loan portfolio experience, which could adversely affect our future performance.

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Failure to successfully implement our growth strategies could cause us to incur significant costs and expenses which may negatively affect our financial condition and results of operations

We expect to continue to grow our assets, the level of our deposits or borrowings, and the scale of our operations. Achieving our growth targets depends, in part, on our ability to attract customers that currently bank at other financial institutions in our market, thereby increasing our share of the market, implement new lines of business or offer new products and services within existing lines of business, identify favorable loan and investment opportunities, and acquire other banks and non bank entities. Our ability to grow successfully will depend on a variety of factors, including our ability to attract and retain experienced bankers, the continued availability of desirable business opportunities, competitive responses from other financial institutions in our market areas and our ability to manage our growth. Growth opportunities may not be available or we may not be able to manage our growth successfully. If we do not manage our growth effectively, our financial condition and operating results could be negatively affected.

If our allowance for loan losses is not sufficient to cover actual loan losses, our earnings and capital could decrease.

We make various assumptions and judgments about the collectability of our loan portfolio, including the creditworthiness of our borrowers and the value of the real estate and other assets serving as collateral for the repayment of many of our loans. In determining the amount of the allowance for loan losses, we review our loans and our loss and delinquency experience, as well as the experience of other similarly situated institutions, and we evaluate other factors including, among other things, current economic conditions. If our assumptions are incorrect, or if delinquencies do not continue to improve or non-accrual and non-performing loans increase, our allowance for loan losses may not be sufficient to cover losses inherent in our loan portfolio, which would require additions to our allowance. Material additions to our allowance would materially decrease our net income.

The Financial Accounting Standards Board has adopted a new accounting standard that will be effective for us for the fiscal year beginning January 1, 2020.  This standard, referred to as Current Expected Credit Loss, or CECL, will require financial institutions to determine periodic estimates of lifetime expected credit losses on loans, and recognize the expected credit losses as allowances for loan losses.  This will change the current method of providing allowances for loan losses that are probable, which may require us to increase our allowance for loan losses, and to greatly increase the types of data we will need to collect and review to determine the appropriate level of the allowance for loan losses. We are currently evaluating the effect the CECL model will have on our consolidated financial statements, but the extent of the effect is indeterminable at this time as it will be dependent upon the nature and characteristics of the Company's loan portfolio at the adoption date, as well as economic conditions and forecasts at that date. Any requirement to increase our allowance for loan losses or expenses incurred to determine the appropriate level of the allowance for loan losses could have a material adverse effect on our financial condition and results of operations.

In addition, bank regulators periodically review our allowance for loan losses and, based on information available to them at the time of their review, may require us to increase our allowance for loan losses or recognize further loan charge-offs. An increase in our allowance for loan losses or loan charge-offs as required by these regulatory authorities may have a material adverse effect on our financial condition and results of operations.

A decline in economic conditions could reduce demand for our products and services and/or result in increases in our level of non-performing loans, which could have an adverse effect on our results of operations.

Unlike larger financial institutions that are more geographically diversified, our profitability depends primarily on the general economic conditions in New York, New Jersey and to a lesser extent eastern Pennsylvania. Local economic conditions have a significant impact on our commercial real estate, construction, and consumer loans, the ability of the borrowers to repay these loans and the value of the collateral securing these loans. Almost all of our loans are to borrowers located in or secured by collateral in the New York metropolitan area.

Deterioration in economic conditions could result in the following consequences, any of which could have a material adverse effect on our business, financial condition, liquidity and results of operations:

• demand for our products and services may decline;

• loan delinquencies, problem assets, and foreclosures may increase;

• collateral for loans, especially real estate, may decline in value, in turn reducing customers’ future borrowing power, and reducing the value of assets and collateral associated with existing loans;

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• the value of our securities portfolio may decline; and

• the net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us.

Moreover, a significant decline in general economic conditions, caused by inflation, recession, acts of terrorism, an outbreak of hostilities or other international or domestic calamities, unemployment or other factors beyond our control could further affect these local economic conditions and could further negatively affect the financial results of our banking operations. In addition, deflationary pressures, while possibly lowering our operating costs, could have a significant negative effect on our borrowers, especially our business borrowers, and the values of underlying collateral securing loans, which could negatively affect our financial performance.

Strong traditional and non-traditional competition within our market areas may limit our growth and profitability. 

We face intense competition in making loans and attracting deposits. Price competition from other financial institutions, credit unions, money market and mutual funds, insurance companies, and other non-traditional competitors such as financial technology companies for loans and deposits sometimes results in us charging lower interest rates on our loans and paying higher interest rates on our deposits and may reduce our net interest income. Competition also makes it more difficult and costly to attract and retain qualified employees. Many of the institutions with which we compete have substantially greater resources and lending limits than we have and may offer services that we do not provide. Our competitors also may price loan and deposit products aggressively when they enter into new lines of business or new market areas. We expect competition to increase in the future as a result of legislative, regulatory, and technological changes and the continuing trend of consolidation in the financial services industry. If we are not able to compete effectively in our market area, our profitability may be negatively affected. The greater resources and broader offering of deposit and loan products of some of our competitors may also limit our ability to increase our interest-earning assets.

The composition of our balance sheet continues to be more heavily weighted towards loans and therefore changes in market interest ratesin an increasing rate environmentcould adversely affect our financial condition and results of operations.

Our financial condition and results of operations are significantly affected by changes in market interest rates. Our results of operations substantially depend on our net interest income, which is the difference between the interest income we earn on our interest-earning assets and the interest expense we pay on our interest-bearing liabilities. Our interest-bearing liabilities generally reprice or mature more quickly than our interest-earning assets. If rates increase rapidly, we would likely have to increase the rates we pay on our deposits and borrowed funds more quickly than interest rates earned on our loans and investments, resulting in a negative effect on interest spreads and net interest income. In addition, the effect of rising rates could be compounded if deposit customers move funds from transaction and savings accounts to higher rate money market or certificate of deposit accounts. Conversely, should market interest rates fall below current levels, our net interest margin could also be affected negatively if competitive pressures keep us from further reducing rates on our deposits, while the yields on our assets decrease more rapidly through loan prepayments and interest rate adjustments.

Increases in interest rates also may decrease loan demand and/or may make it more difficult for borrowers to repay adjustable rate loans.  Additionally, increases in interest rates may increase capitalization rates utilized in valuing income-producing properties. This can result in lower appraised values, which can limit the ability of borrowers to refinance existing debt and may result in higher charge-offs of our non-performing collateral dependent loans.

Our balance sheet composition continues to shift towards investments in assets with longer durations.

We are subject to reinvestment risk associated with changes in interest rates. Changes in interest rates may affect the average life of loans and mortgage-related securities. Decreases in interest rates often result in increased prepayments of loans and mortgage-related securities, as borrowers refinance their loans to reduce borrowings costs. Under these circumstances, we are subject to reinvestment risk to the extent we are unable to reinvest the cash received from such prepayments in loans or other investments that have interest rates that are comparable to the interest rates on existing loans and securities.

Changes in interest rates also affect the value of our interest earning assets and in particular the carrying value of our securities portfolio.  Generally, the value of interest-earning assets fluctuates inversely with changes in interest rates.  

At December 31, 2016, our simulation model indicated that our net portfolio value (the net present value of our interest-earning assets and interest-bearing liabilities) would decrease by 13.47% if there was an instantaneous parallel 200 basis point increase in market interest rates. Although interest rate risk calculations provide 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

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effect of changes in market interest rates on our net portfolio value or net interest income and likely will differ from actual results.

Historically low interest rates may adversely affect our net interest income and profitability.

The FRB has maintained interest rates at historically low levels through its targeted federal funds rate and purchases of mortgage-backed securities. As a general matter, our interest-bearing liabilities reprice or mature more quickly than our interest-earning assets, which has resulted in increases in net interest income in the short term.  Our ability to lower our interest expense is limited at these interest rate levels while the average yield on our interest-earning assets may continue to decrease. Accordingly, our net interest income (the difference between interest income earned on assets and interest expense paid on liabilities) may decrease, which may have an adverse effect on our profitability.

Our funding sources may prove insufficient to replace deposits and support our future growth.

We must maintain sufficient funds to respond to the needs of depositors and borrowers. As a part of our liquidity management, we use a number of funding sources in addition to core deposit growth and repayments and maturities of loans and investments. These additional sources consist primarily of FHLB advances, proceeds from the sale of loans, federal funds purchased, and brokered certificates of deposit. As we continue to grow, we are likely to become more dependent on these sources. Adverse operating results or changes in industry conditions could lead to difficulty or an inability to access these additional funding sources. Our financial flexibility will be severely constrained if we are unable to maintain our access to funding or if adequate financing is not available to accommodate future growth at acceptable interest rates. If we are required to rely more heavily on more expensive funding sources to support future growth, our revenues may not increase proportionately to cover our costs. In this case, our operating margins and profitability would be adversely affected.

Our success depends on hiring and retaining certain key personnel.

Our performance largely depends on the talents and efforts of highly skilled individuals. We rely on key personnel to manage and operate our business, including major revenue generating functions such as loan and deposit generation. The loss of key staff may adversely affect our ability to maintain and manage these functions effectively, which could negatively affect our revenues. In addition, loss of key personnel could result in increased recruiting and hiring expenses, which could cause a decrease in our net income. Our continued ability to compete effectively depends on our ability to attract new employees and to retain and motivate our existing employees.

Cyber-attacks or other security breaches could adversely affect our operations, net income, or reputation.

We regularly collect, process, transmit and store significant amounts of confidential information regarding our customers, employees and others and concerning our own business, operations, plans and strategies. In some cases, this confidential or proprietary information is collected, compiled, processed, transmitted, or stored by third parties on our behalf.

Information security risks have generally increased in recent years because of the proliferation of new technologies, the use of the Internet and telecommunications technologies to conduct financial and other transactions, and the increased sophistication and activities of perpetrators of cyber-attacks and mobile phishing. Mobile phishing, a means for identity thieves to obtain sensitive personal information through fraudulent e-mail, text or voice mail, is an emerging threat targeting the customers of financial entities. A failure in or breach of our operational or information security systems, or those of our third-party service providers, as a result of cyber-attacks or information security breaches or due to employee error, malfeasance or other disruptions could adversely affect our business, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and/or cause losses.

If this confidential or proprietary information were to be mishandled, misused, or lost, we could be exposed to significant regulatory consequences, reputational damage, civil litigation, and financial loss.

Although we employ a variety of physical, procedural, and technological safeguards to protect this confidential and proprietary information from mishandling, misuse, or loss, these safeguards do not provide absolute assurance that mishandling, misuse, or loss of the information will not occur, and that if mishandling, misuse, or loss of information does occur, those events will be promptly detected and addressed. Similarly, when confidential or proprietary information is collected, compiled, processed, transmitted or stored by third parties on our behalf, our policies and procedures require that the third party agree to maintain the confidentiality of the information, establish and maintain policies and procedures designed to preserve the confidentiality of the information, and permit us to confirm the third party’s compliance with the terms of the agreement. As information security risks and cyber threats continue to evolve, we may be required to expend additional

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resources to continue to enhance our information security measures and/or to investigate and remediate any information security vulnerabilities.

Changes in our accounting policies or in accounting standards could materially affect how we report our financial condition and results of operations.

Our accounting policies are essential to understanding our financial results and condition. Some of these policies require the use of estimates and assumptions that may affect the value of our assets or liabilities and financial results. Some of our accounting policies are critical because they require management to make difficult, subjective, and complex judgments about matters that are inherently uncertain and because it is likely that materially different amounts would be reported under different conditions or using different assumptions. If such estimates or assumptions underlying our financial statements are incorrect, we may experience material losses.

From time to time, the Financial Accounting Standards Board and the Securities and Exchange Commission change the financial accounting and reporting standards or the interpretation of those standards that govern the preparation of our financial statements. These changes are beyond our control, can be hard to predict and could materially affect how we report our results of operations and financial condition. We could also be required to apply a new or revised standard retroactively, resulting in our restating prior period financial statements in material amounts. 

We hold certain intangible assets that could be classified as impaired in the future. If these assets are considered to be either partially or fully impaired in the future, our earnings and the book values of these assets would decrease.

We are required to test our goodwill for impairment on a periodic basis. The impairment testing process considers a variety of factors, including the current market price of our common shares, the estimated net present value of our assets and liabilities and information concerning the terminal valuation of similarly situated insured depository institutions. It is possible that future impairment testing could result in a partial or full impairment of the value of our goodwill. If an impairment determination is made in a future reporting period, our earnings and the book value of goodwill will be reduced by the amount of the impairment.

We are required to maintain a significant percentage of our total assets in residential mortgage loans and investments secured by residential mortgage loans, which restricts our ability to diversify our loan portfolio.

A federal savings bank differs from a commercial bank in that it is required to maintain at least 65% of its total assets in “qualified thrift investments,” which generally includes loans and investments for the purchase, refinance, construction, improvement, or repair of residential real estate, as well as home equity loans, education loans and small business loans. To maintain our federal savings bank charter we have to be a “qualified thrift lender” or “QTL” in nine out of each 12 immediately preceding months. The QTL requirement limits the extent to which we can grow our commercial loan portfolio, and failing the QTL test can result in an enforcement action. However, a loan that does not exceed $2 million (including a group of loans to one borrower) that is for commercial, corporate, business, or agricultural purposes is included in our qualified thrift investments. As of December 31, 2016, we maintained 80.3% of our portfolio assets in qualified thrift investments. Because of the QTL requirement, we may be limited in our ability to change our asset mix and increase the yield on our earning assets by growing our commercial loan portfolio.

In addition, if we continue to grow our commercial real estate loan portfolio and our residential mortgage loan portfolio decreases, it is possible that in order to maintain our QTL status, we could be forced to buy mortgage-backed securities or other qualifying assets at times when the terms of such investments may not be attractive. Alternatively, we may find it necessary to pursue different structures, including converting Northfield Bank’s savings bank charter to a commercial bank charter.

Because the nature of the financial services business involves a high volume of transactions, we face significant operational risks, including fraud.

We operate in diverse markets and rely on the ability of our employees and systems to process a high number of transactions over short periods of time. Operational risk is the risk of loss resulting from our operations, including but not limited to, the risk of fraud by employees or persons outside our company, the execution of unauthorized transactions by employees, errors relating to transaction processing and technology, breaches of the internal control system and compliance requirements, and business continuation and disaster recovery. Insurance coverage may not be available for such losses, or where available, such losses may exceed insurance limits. This risk of loss also includes the potential legal actions that could arise as a result of an operational deficiency or as a result of noncompliance with applicable regulatory standards, adverse

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business decisions or their implementation, and customer attrition due to potential negative publicity. In the event of a breakdown in the internal control system, improper operation of systems or improper employee actions, we could suffer financial loss, face regulatory action, and suffer damage to our reputation.

Risks associated with system failures, interruptions, or breaches of security could affect our earnings negatively.

Information technology systems are critical to our business. We use various technology systems to manage our customer relationships, general ledger, securities, deposits, and loans. We have established policies and procedures to prevent or limit the effect of system failures, interruptions, and security breaches, but such events may still occur or may not be adequately addressed if they do occur. In addition, any compromise of our systems could deter customers from using our products and services. Although we rely on security systems to provide security and authentication necessary to effect the secure transmission of data, these precautions may not protect our systems from compromises or breaches of security.

In addition, we outsource a majority of our data processing to certain third-party providers. If these third-party providers encounter difficulties, or if we have difficulty communicating with them, our ability to adequately process and account for transactions could be affected, and our business operations could be adversely affected. Threats to information security also exist in the processing of customer information through various other vendors and their personnel.

The occurrence of any system failures, interruption, or breach of security could damage our reputation and result in a loss of customers and business thereby subjecting us to additional regulatory scrutiny, or could expose us to litigation and possible financial liability. Any of these events could have a material adverse effect on our financial condition and results of operations.

We are subject to extensive regulatory oversight.

We are subject to extensive supervision, regulation, and examination by the OCC, the FRB, and the FDIC. As a result, we are limited in the manner in which we conduct our business, undertake new investments and activities, and obtain financing. This regulatory structure is designed primarily for the protection of the Deposit Insurance Fund and our depositors, and not to benefit our stockholders. This regulatory structure also gives the regulatory authorities extensive discretion in connection with their supervisory and enforcement actions and examination policies, including policies with respect to capital levels, the timing and amount of dividend payments, the classification of assets, the establishment of adequate loan loss reserves for regulatory purposes and the timing and amounts of assessments and fees.

In addition, we must comply with significant anti-money laundering and anti-terrorism laws and regulations, Community Reinvestment Act laws and regulations, and fair lending laws and regulations. Government agencies have the authority to impose monetary penalties and other sanctions on institutions that fail to comply with these laws and regulations, which could significantly affect our business activities, including our ability to acquire other financial institutions or expand our branch network.

Legislative or regulatory responses to perceived financial and market problems could impair our rights against borrowers.

Federal, state and local laws and policies could reduce the amount distressed borrowers are otherwise contractually obligated to pay under their mortgage loans, and may limit the ability of lenders to foreclose on mortgage collateral. Restrictions on Northfield Bank’s rights as creditor could result in increased credit losses on our loans and mortgage-backed securities, or increased expense in pursuing our remedies as a creditor.

Non-compliance with the USA PATRIOT Act, Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.

The USA PATRIOT and Bank Secrecy Acts require financial institutions to develop programs to prevent financial institutions from being used for money laundering and terrorist activities.  If such activities are detected, financial institutions are obligated to file suspicious activity reports with the U.S. Treasury’s Office of Financial Crimes Enforcement Network.  These rules require financial institutions to establish procedures for identifying and verifying the identity of customers seeking to open new financial accounts.  Failure to comply with these regulations could result in fines or sanctions.  Recently, several banking institutions have received large fines for non-compliance with these laws and regulations.  While we have developed policies and procedures designed to assist in compliance with these laws and regulations, these policies and procedures may not be effective in preventing violations of these laws and regulations. 

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Financial reform legislation has, among other things, tightened capital standards,and createdtheConsumer Financial Protection Bureau,resultingin new laws and regulations that are expected to increase our costs of operations.

The Dodd-Frank Act requires various federal agencies to adopt a broad range of new implementing rules and regulations, and to prepare numerous studies and reports for Congress. The federal agencies are given significant discretion in drafting the implementing rules and regulations, and consequently, many of the details and much of the impact of the Dodd-Frank Act may not be known for many months or years. Our operating and compliance costs have increased, and could continue to increase, as a result of the Dodd-Frank Act and the implementing rules and regulations. The need to comply with additional rules and regulations, as well as state laws and regulations to which we were not subject previously, will also divert management’s time from managing the remainder of our operations.

Final regulations could restrict our ability to originate and sell loans.

The Consumer Financial Protection Bureau has issued a rule designed to clarify for lenders how they can avoid legal liability under the Dodd-Frank Act, which would hold lenders accountable for ensuring a borrower’s ability to repay a mortgage. Loans that meet this “qualified mortgage” definition will be presumed to have complied with the new ability-to-repay standard. Under the Consumer Financial Protection Bureau’s rule, a “qualified mortgage” loan must not contain certain specified features, including:

• excessive upfront points and fees (those exceeding 3% of the total loan amount, less “bona fide discount points” for prime loans);

• interest-only payments;

• negative-amortization; or

• terms longer than 30 years.

Also, to qualify as a “qualified mortgage”, a loan must be made to a borrower whose total monthly debt-to-income ratio does not exceed 43%. Lenders must also verify and document the income and financial resources relied upon to qualify the borrower on the loan and underwrite the loan based on a fully amortizing payment schedule and maximum interest rate during the first five years, taking into account all applicable taxes, insurance, and assessments.

In addition, the Dodd-Frank Act requires the Consumer Financial Protection Bureau to adopt rules and publish forms that combine certain disclosures that consumers receive in connection with applying for and closing on certain mortgage loans under the Truth in Lending Act and the Real Estate Settlement Procedures Act. The Consumer Financial Protection Bureau has implemented a final rule to implement this requirement, and the final rule was effective in October 2015.

In addition, the Dodd-Frank Act requires the regulatory agencies to issue regulations that require securitizers of loans to retain “not less than 5% of the credit risk for any asset that is not a qualified residential mortgage.” The regulatory agencies have issued a final rule to implement this requirement. The final rule provides that the definition of “qualified residential mortgage” includes loans that meet the definition of a qualified mortgage issued by the Consumer Financial Protection Bureau for purposes of its regulations.

These rules could have a significant effect on the secondary market for loans and the types of loans we originate, and restrict our ability or desire to make certain types of loans or loans to certain borrowers, which could limit our growth or profitability.

Changes in the valuation of our securities portfolio could reduce net income and lower our capital levels. 

Our securities portfolio may be affected by fluctuations in market value, potentially reducing accumulated other comprehensive income and/or earnings.  Fluctuations in market value may be caused by changes in market interest rates, lower market prices for securities and limited investor demand.  Management evaluates securities for other-than-temporary impairment on a quarterly basis, with more frequent evaluation for selected issues.  In analyzing a debt issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, industry analysts’ reports and, to a lesser extent given the relatively insignificant levels of depreciation in our debt portfolio, spread differentials between the effective rates on instruments in the portfolio compared to risk-free rates.  In analyzing an equity issuer’s financial condition, management considers industry analysts’ reports, financial performance, and projected target prices of investment analysts within a one-year time period.  If

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this evaluation shows impairment to the actual or projected cash flows associated with one or more securities, a potential loss to earnings may occur.  Changes in interest rates also can have an adverse effect on our financial condition, as our available-for-sale securities are reported at their estimated fair value, and therefore are impacted by fluctuations in interest rates.  We increase or decrease our stockholders’ equity by the amount of change in the estimated fair value of the available-for-sale securities, net of taxes.  The declines in market value could result in other-than-temporary impairments of these assets, which would lead to accounting charges that could have a material adverse effect on our net income and capital levels. Changes in interest rates can also have an adverse effect on our financial condition, as our available-for-sale securities are reported at their estimated fair value, and therefore are impacted by fluctuations in interest rates.

Federal banking regulations restrict insured depository institutions and their affiliated companies from engaging in short-term proprietary trading of certain securities, investing in funds with collateral comprised of less than 100% loans that are not registered with the Securities and Exchange Commission and from engaging in hedging activities that do not hedge a specific identified risk. We continue to analyze the impact of this regulation on our investment portfolio, and whether any changes are required to our investment strategies that could negatively affect our earnings.

We have become subject to more stringent capital requirements, which may adversely affect our return on equity, require us to raise additional capital, or constrain us from paying dividends or repurchasing shares.

“Basel III” regulatory capital reforms and changes required by the Dodd-Frank Act were effective for us on January 1, 2015, and substantially amended the regulatory risk-based capital rules applicable to Northfield Bancorp, Inc. and Northfield Bank.  The new minimum capital requirements are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 to risk-based assets capital ratio of 6% (increased from 4%); (iii) a total capital ratio of 8% (unchanged from current rules); and (iv) a Tier 1 leverage ratio of 4%. The final rule also establishes a “capital conservation buffer” of 2.5%, and will result in the following minimum ratios: (i) a common equity Tier 1 capital ratio of 7.0%, (ii) a Tier 1 to risk-based assets capital ratio of 8.5%, and (iii) a total capital ratio of 10.5%. The new capital conservation buffer requirement was phased in beginning January 1, 2016, at 0.625% of risk-weighted assets and increases each year until fully implemented at 2.5% on January 1, 2019. An institution will be subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations will establish a maximum percentage of eligible retained income that can be utilized for such actions.

We have analyzed the effects of these new capital requirements as if these new requirements had been in full effect as of December 31, 2016, and we believe that Northfield Bank and the Company meet all of these new requirements, including the full 2.5% capital conservation buffer.

The application of more stringent capital requirements, among other things, could result in lower returns on equity, require the raising of additional capital, and result in regulatory actions if we were to be unable to comply with such requirements.  Furthermore, the imposition of liquidity requirements in connection with the implementation of Basel III could result in our having to lengthen the term of our funding, restructure our business models, and/or increase our holdings of liquid assets.  Implementation of changes to asset risk weightings for risk-based capital calculations, items included or deducted in calculating regulatory capital and/or additional capital conservation buffers could result in management modifying its business strategy, and could limit our ability to make distributions, including paying out dividends or buying back shares.  Specifically, beginning in 2016, Northfield Bancorp Inc.’s ability to pay dividends will be limited if it does not have the capital conservation buffer required by the new capital rules, which may limit our ability to pay dividends to stockholders.  See “Item 1. Business - Supervision and Regulation.”

The value of our deferred tax asset could be reduced if corporate tax rates in the U.S. are decreased.

There have been recent discussions by the executive branch regarding potentially decreasing the U.S. corporate tax rate. While we may benefit in some respects from any decreases in these corporate tax rates, any reduction in the U.S. corporate tax rate would result in a decrease to the value of our net deferred tax asset, which could negatively affect our financial condition and results of operations.

Our risk management framework may not be effective in mitigating risk and reducing the potential for significant losses.

Our risk management framework is designed to minimize risk and loss to us. We seek to identify, measure, monitor, report, and control our exposure to the types of risk to which we are subject, including strategic, market, liquidity, compliance, and operational risks. While we employ a broad and diversified set of risk monitoring and mitigation techniques, those techniques are inherently limited because they cannot anticipate the existence or future development of currently unanticipated or unknown risks. Recent economic conditions, heightened legislative and regulatory scrutiny of the financial services

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industry, among other developments, have resulted in a heightened level of risk for us. Accordingly, we could suffer losses as a result of our failure to properly anticipate and manage these risks.

Our business may be adversely affected by an increasing prevalence of fraud and other financial crimes.

Our loans to businesses and individuals and our deposit relationships and related transactions are subject to exposure to the risk of loss due to fraud and other financial crimes.  Nationally, reported incidents of fraud and other financial crimes have increased.  We have also experienced losses due to apparent fraud and other financial crimes.  While we have policies and procedures designed to prevent such losses, losses may still occur.

Acquisitionsmay disrupt our business and dilute stockholder value.

We regularly evaluate merger and acquisition opportunities and conduct due diligence activities related to possible transactions with other financial institutions and financial services companies. As a result, negotiations may take place and future mergers or acquisitions involving cash, debt, or equity securities may occur at any time. We seek acquisition partners that offer us either significant market presence or the potential to expand our market footprint and improve profitability through economies of scale or expanded services.

Acquiring other banks, businesses, or branches may have an adverse effect on our financial results and may involve various other risks commonly associated with acquisitions. These include:

• integrating personnel with diverse business backgrounds;

• converting customers to new systems;

• combining different corporate cultures; and

• retaining key employees.

The success of an acquisition will depend, in part, on our ability to realize the anticipated benefits and cost savings. If we are unable to integrate an acquired company successfully, the anticipated benefits and cost savings may not be realized fully or may take longer to realize than expected. A significant decline in asset valuations or cash flows may also cause us not to realize expected benefits.  

Various factors may make takeover attempts more difficult to achieve.

Our certificate of incorporation and bylaws, federal regulations, Northfield Bank’s charter, Delaware law, shares of restricted stock and stock options that we have granted or may grant to employees and directors, stock ownership by our management and directors and employment agreements that we have entered into with our executive officers, and various other factors may make it more difficult for companies or persons to acquire control of Northfield Bancorp, Inc. without the consent of our board of directors.

We may not pay dividends on our shares of common stock.

Although we currently pay dividends on a quarterly basis, stockholders are not entitled to receive dividends.  Federal regulations also may restrict capital distributions, which include cash dividends, to ensure the institution maintains adequate capital requirements.

Legal and regulatory proceedings and related matters could adversely affect us or the financial services industry in general.

We, and other participants in the financial services industry upon whom we rely to operate, have been and may in the future become involved in legal and regulatory proceedings. Most of the proceedings we consider to be in the normal course of our business or typical for the industry; however, it is inherently difficult to assess the outcome of these matters, and other participants in the financial services industry or we may not prevail in any proceeding or litigation. Any adverse determination could negatively affect our business, brand or image, or our financial condition and results of our operations.

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We are subject to environmental liability risk associated with lending activities.

A significant portion of our loan portfolio is secured by real estate, and we could become subject to environmental liabilities with respect to one or more of these properties. During the ordinary course of business, we may foreclose on and take title to properties securing defaulted loans. In doing so, there is a risk that hazardous or toxic substances could be found on these properties. If hazardous conditions or toxic substances are found on these properties, we may be liable for remediation costs, as well as for personal injury and property damage, civil fines and criminal penalties regardless of when the hazardous conditions or toxic substances first affected any particular property. Environmental laws may require us to incur substantial expenses to address unknown liabilities and may materially reduce the affected property’s value or limit our ability to use or sell the affected property. In addition, future laws or more stringent interpretations or enforcement policies with respect to existing laws may increase our exposure to environmental liability. Although we have policies and procedures to perform an environmental review before initiating any foreclosure action on nonresidential real property, these reviews may not be sufficient to detect all potential environmental hazards. The remediation costs and any other financial liabilities associated with an environmental hazard could have a material adverse effect on us.

ITEM 1B. UNRESOLVED STAFF COMMENTS

There are no unresolved staff comments.

ITEM 2. PROPERTIES

The Company operates from the Bank’s home office in Staten Island, New York, our corporate offices located at 581 Main Street, Woodbridge, New Jersey, and our additional 37 branch offices located in New York and New Jersey, and its lending office located in Brooklyn, New York.  Our branch offices are located in the New York counties of Richmond, and Kings and the New Jersey counties of Hunterdon, Mercer, Middlesex, and Union.  The net book value of our premises, land, and equipment was $26.9 million at December 31, 2016.

ITEM 3. LEGAL PROCEEDINGS

In the normal course of business, we may be party to various outstanding legal proceedings and claims.  In the opinion of management, the consolidated financial statements will not be materially affected by the outcome of such legal proceedings and claims as of December 31, 2016.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

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PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

Our shares of common stock are traded on the NASDAQ Global Select Market under the symbol “NFBK.”  The approximate number of holders of record of Northfield Bancorp, Inc.’s common stock as of February 28, 2017, was 4,449.  Certain shares of Northfield Bancorp, Inc. are held in “nominee” or “street” name and accordingly, the number of beneficial owners of such shares is not known or included in the foregoing number.  The following table presents quarterly market and dividend information for Northfield Bancorp, Inc. common stock for the years ended December 31, 2016 and 2015.  The following market information was provided by the NASDAQ Global Stock Market.

	High		Low		Dividends
Quarter ended December 31, 2016	$	20.59	$	14.88	$	0.08
Quarter ended September 30, 2016	$	16.28	$	14.38	$	0.08
Quarter ended June 30, 2016	$	16.58	$	14.31	$	0.08
Quarter ended March 31, 2016	$	16.68	$	14.43	$	0.07
Quarter ended December 31, 2015	$	16.40	$	14.71	$	0.07
Quarter ended September 30, 2015	$	15.86	$	14.60	$	0.07
Quarter ended June 30, 2015	$	15.26	$	14.32	$	0.07
Quarter ended March 31, 2015	$	14.90	$	14.06	$	0.07

The Company is subject to state law limitations and federal banking regulatory policy on the payment of dividends. Delaware law generally limits dividends to our capital surplus or, if there is no capital surplus, our net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year.  In addition, see “Item 1. Business - Supervision and Regulation - Holding Company Regulation.”

The sources of funds for the payment of a cash dividend are interest, and principal payments on Northfield Bancorp, Inc.’s investments, including its loan to Northfield Bank’s Employee Stock Ownership Plan, and dividends from Northfield Bank.

For a discussion of Northfield Bank’s ability to pay dividends, see “Item 1. Business - Supervision and Regulation.”

Stock Performance Graph

Set forth below is a stock performance graph (Source: SNL Financial) comparing (a) the cumulative total return on the Northfield Bancorp, Inc.’s common stock for the period December 31, 2011, through December 31, 2016, (b) the cumulative total return of the stocks included in the NASDAQ Composite Index over such period, (c) the cumulative total return on stocks included in the NASDAQ Bank Index over such period, and, (d) the cumulative total return on stocks included in the SNL U.S. Thrift Index over such period. Cumulative return assumes the reinvestment of dividends, and is expressed in dollars based on an assumed investment of $100.

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	As of
Index	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016
Northfield Bancorp, Inc.	100.00	108.61	137.49	157.26	172.36	220.54
NASDAQ Composite Index	100.00	117.45	164.57	188.84	201.98	219.89
NASDAQ Bank Index	100.00	118.69	168.21	176.48	192.08	265.02
SNL U.S. Thrift Index	100.00	121.63	156.09	167.88	188.78	231.23

Issuer Purchases of Equity Securities

The following table shows the Company’s repurchases of its common stock for each calendar month in the three months ended December 31, 2016:

				Total Number of
				Shares Purchased	Maximum Number
	Total Number	Average		as Part of Publicly	of Shares that May Yet
	of Shares	Price Paid per		Announced Plans	Be Purchased Under
Period	Purchased(1)	Share		or Programs(2)	Plans or Programs(2)
October 1, 2016, through October 31, 2016	224	$	16.04	—	—
November 1, 2016, through November 30, 2016	503	$	18.21	—	—
December 1, 2016, through December 31, 2016	558	$	18.70	—	—
Total	1,285	$	18.04	—

(1) Share repurchases are due to net settlement arrangements whereby shares are withheld to pay taxes incurred upon exercise of options or upon vesting of restricted shares, or to pay the exercise price of the option.

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(2) In 2014, the Company's Board of Directors revised its stock repurchase program to allow for the repurchase of a total of $170.0 million of the Company's common stock. On May 27, 2015, the Company’s Board of Directors authorized an increase of $15.0 million to its stock repurchase plan bringing the total authorized to $185.0 million at that date. The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. There were no shares remaining to be purchased at December 31, 2016, or December 31, 2015.

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ITEM 6. SELECTED FINANCIAL DATA

The summary information presented below at the dates or for each of the years presented is derived in part from our consolidated financial statements.  The following information is only a summary, and should be read in conjunction with our consolidated financial statements and notes included in this Annual Report:

	At December 31,
	2016			2015			2014			2013			2012
	(Dollars in thousands, except share data)
Selected Financial Condition Data:
Total assets	$	3,850,094		$	3,202,584		$	3,020,869		$	2,702,764		$	2,813,201
Cash and cash equivalents	96,085			51,853			76,709			61,239			128,761
Trading securities	7,857			6,713			6,422			5,998			4,677
Securities available-for-sale, at estimated market value	498,897			541,595			771,239			937,085			1,275,631
Securities held-to-maturity	10,148			10,346			3,609			—			2,220
Loans held-for-sale  (non-performing)	—			—			—			471			5,447
Loans held-for-investment:
PCI loans	30,498			33,115			44,816			59,468			75,349
Loans acquired	793,240			409,015			265,685			77,817			101,433
Originated loans, net	2,144,346			1,931,585			1,632,494			1,352,191			1,066,200
Loans held-for-investment, net	2,968,084			2,373,715			1,942,995			1,489,476			1,242,982
Allowance for loan losses	(24,595		)	(24,770		)	(26,292		)	(26,037		)	(26,424		)
Net loans held-for-investment	2,943,489			2,348,945			1,916,703			1,463,439			1,216,558
Bank owned life insurance	148,047			132,782			129,015			125,113			93,042
FHLB of New York stock, at cost	25,123			25,803			29,219			17,516			12,550
Other real estate owned	850			45			752			634			870
Deposits	2,713,587			2,052,929			1,620,665			1,492,689			1,956,860
Borrowed funds	473,206			558,129			778,658			470,325			419,122
Total liabilities	3,228,898			2,642,805			2,426,941			1,986,656			2,398,328
Total stockholders’ equity	$	621,196		$	559,779		$	593,928		$	716,108		$	414,873

	Years Ended December 31,
	2016		2015		2014		2013		2012
	(Dollars in thousands)
Selected Operating Data:
Interest income	$	124,972	$	101,758	$	91,701	$	92,470	$	91,539
Interest expense	21,668		19,688		15,352		16,948		22,644
Net interest income before provision for loan losses	103,304		82,070		76,349		75,522		68,895
Provision for loan losses	635		353		645		1,927		3,536
Net interest income after provision  for loan losses	102,669		81,717		75,704		73,595		65,359
Non-interest income	10,072		7,898		8,460		10,161		8,586
Non-interest expense	72,946		58,109		52,042		53,873		48,998
Income before income taxes	39,795		31,506		32,122		29,883		24,947
Income tax expense	13,665		11,975		11,856		10,736		8,916
Net income	$	26,130	$	19,531	$	20,266	$	19,147	$	16,031
Net income per common share - basic	$	0.59	$	0.46	$	0.41	$	0.35	$	0.30
Net income per common share - diluted	$	0.57	$	0.45	$	0.41	$	0.34	$	0.29
Weighted average basic shares outstanding	44,374,389		42,285,712		49,006,129		54,637,680		54,339,467
Weighted average diluted shares outstanding	45,717,887		43,478,481		50,032,259		55,560,309		55,115,680

Note: Weighted average basic and diluted shares have been restated to reflect the completion of our second-step conversion on January 24, 2013, at an exchange ratio of 1.4029-to-one.

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	At or For the Years Ended December 31,
	2016		2015		2014		2013		2012
Selected Financial Ratios and Other Data:
Performance Ratios:
Return on assets (ratio of net income to average total assets)(1)	0.70	%	0.63	%	0.73	%	0.70	%	0.65	%
Return on equity (ratio of net income to average equity)(1)	4.26		3.41		3.07		2.70		4.08
Interest rate spread(2)	2.80		2.63		2.74		2.68		2.76
Net interest margin(3)	2.98		2.83		2.97		2.97		2.98
Dividend payout ratio(4)	53.86		62.38		63.57		140.28		10.74
Efficiency ratio(5) (6)	64.34		64.59		61.36		62.87		63.24
Non-interest expense to average total assets	1.95		1.86		1.88		1.97		1.99
Average interest-earning assets to average interest-bearing liabilities	128.68		129.12		139.12		142.73		122.83
Average equity to average total assets	16.44		18.32		23.75		25.90		15.94
Asset Quality Ratios:
Non-performing assets to total assets	0.21		0.28		0.51		0.68		1.30
Non-performing loans(7) to total loans(8)	0.25		0.37		0.75		1.19		2.86
Allowance for loan losses to non-performing loans held-for-investment(9)	333.23		280.78		180.29		150.23		87.73
Allowance for loan losses to total loans held-for-investment, net(10)	0.83		1.04		1.35		1.75		2.13
Allowance for loan losses to originated loans held-for-investment, net(11)	1.10		1.24		1.58		1.88		2.46
Capital Ratios(12):
Common equity Tier 1 capital (to risk-weighted assets)	17.75		20.19		NA		NA		NA
Total capital (to risk-weighted assets)	18.56		21.21		22.95		28.94		22.30
Tier I capital (to risk-weighted assets)	17.75		20.19		21.77		27.69		21.04
Tier I capital (to adjusted assets)	14.55		15.72		16.46		19.88		12.65
Other Data:
Number of full service offices	38		30		30		30		29
Full time equivalent employees	348		290		302		306		306

(1)	The year ended December 31, 2016, includes merger-related charges of $2.4 million, net of tax, associated with the acquisition of Hopewell Valley. The year ended December 31, 2015, includes merger-related charges of $574,000, net of tax, associated with the acquisition of Hopewell Valley and a $795,000 charge related to the write-down of deferred tax assets resulting from New York City tax reforms. The year ended December 31, 2014, includes a gain of $560,000, net of tax, related to the settlement of the former Flatbush Federal Savings & Loan Association pension plan and a charge of $570,000 related to the write-down of deferred tax assets resulting from New York State tax reforms.
(2)	The interest rate spread represents the difference between the weighted-average yield on interest earning assets and the weighted-average costs of interest-bearing liabilities.
(3)	The net interest margin represents net interest income as a percent of average interest-earning assets for the period.
(4)	Dividend payout ratio is calculated as total dividends declared for the year (excluding any dividends waived by Northfield Bancorp, MHC) divided by net income for the year. 2013 includes a special dividend of $0.25 per share.
(5)	The efficiency ratio represents non-interest expense divided by the sum of net interest income and non-interest income.
(6)	The year ended December 31, 2016, includes merger-related pre-tax charges of $4.0 million associated with the acquisition of Hopewell Valley. The year ended December 31, 2015, includes merger-related pre-tax charges of $672,000 associated with the acquisition of Hopewell Valley. The year ended December 31, 2014, includes a pre-tax gain of $937,000, related to the settlement of the former Flatbush Federal Savings & Loan Association pension plan.
(7)	Non-performing loans consist of non-accruing loans and loans 90 days or more past due and still accruing (excluding PCI loans), and are included in total loans held-for-investment, net, and non-performing loans held-for-sale.
(8)	Includes originated loans held-for-investment, PCI loans, acquired loans and non-performing loans held-for-sale.
(9)	Excludes non-performing loans held-for-sale, carried at lower of cost or estimated fair value, less costs to sell.
(10)	Includes PCI and acquired loans held-for-investment.
(11)	Excludes PCI loans, acquired loans held-for-investment and loans held-for-sale (and related allowance for loan losses).
(12)	Capital Ratios are presented for Northfield Bank only.

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the Consolidated Financial Statements of Northfield Bancorp, Inc. and the Notes thereto included elsewhere in this report (collectively, the “Financial Statements”).  

Overview

On January 8, 2016, the Company completed its acquisition of Hopewell Valley Community Bank (“Hopewell Valley”), which, after purchase accounting adjustments, added $508.5 million to total assets, $342.6 million to loans, and $456.2 million to deposits, and nine branch offices in the Hunterdon and Mercer counties of New Jersey. Total consideration paid for Hopewell Valley was $55.4 million, consisting of $13.7 million in cash and 2,707,381 shares of common stock valued at $41.7 million based upon the $15.41 per share closing price of Northfield Bancorp, Inc.'s common stock on January 8, 2016.

Net income was $26.1 million, or $0.57 per diluted common share, and $19.5 million, or $0.45 per diluted common share, for the years ended December 31, 2016 and 2015, respectively. Net income for the year ended December 31, 2016, included merger-related expenses of $4.0 million ($2.4 million, after tax) associated with the Hopewell Valley acquisition. Net income for the year ended December 31, 2015, included merger-related expenses of $672,000 ($574,000, after tax) associated with the Hopewell Valley acquisition and a tax charge of $795,000 related to the write-down of deferred tax assets as a result of New York City tax reforms enacted in April 2015.

Our assets increased by $647.5 million, or 20.2%, to $3.85 billion at December 31, 2016, from $3.20 billion at December 31, 2015. The increase was primarily attributable to increases in loans held-for-investment, net, of $594.4 million, cash and cash equivalents of $44.2 million, goodwill of $22.3 million, and bank owned life insurance of $15.3 million. The increases were partially offset by a decrease in securities available-for-sale of $42.7 million. The overall increase in assets was primarily due to assets acquired from Hopewell Valley. Our liabilities increased by $586.1 million, or 22.2%, to $3.23 billion, at December 31, 2016, from $2.64 billion at December 31, 2015. The increase was primarily attributable to an increase in deposits of $660.7 million, partially offset by decreases in securities sold under agreements to repurchase of $55.0 million and other borrowings of $29.9 million. The increase in deposits was primarily due to $456.2 million of deposits acquired from Hopewell Valley.

Our stockholders’ equity increased by $61.4 million, or 11.0%, to $621.2 million at December 31, 2016, from $559.8 million at December 31, 2015. This increase was primarily due to common stock issued in conjunction with the Hopewell Valley transaction, which resulted in a $41.7 million increase in equity (discussed above) and net income of $26.1 million, partially offset by dividends payments of $14.1 million. To a lesser extent, the recognition of stock compensation expense associated with equity awards and the exercise of stock options, partially offset by an increase in unrealized losses on our securities-available-for sale portfolio, also contributed to the increase in equity.

Critical Accounting Policies

Critical accounting policies are defined as those that involve significant judgments and uncertainties, and could potentially result in materially different results under different assumptions and conditions.  We believe that the most critical accounting policies upon which our financial condition and results of operation depend, and which involve the most complex subjective decisions or assessments, are the following:

Allowance for Loan Losses and Impaired Loans.  The allowance for loan losses is the estimated amount considered necessary to cover probable and reasonably estimable incurred losses inherent in the loan portfolio at the balance sheet date.  The allowance is established through the provision for loan losses that is charged against income.  In determining the allowance for loan losses, we make significant estimates and judgments.  The determination of the allowance for loan losses is considered a critical accounting policy by management because of the high degree of judgment involved, the subjectivity of the assumptions used, and the potential for changes in the economic environment that could result in changes to the amount of the recorded allowance for loan losses.

The allowance for loan losses has been determined in accordance with U.S. GAAP.  We are responsible for the timely and periodic determination of the amount of the allowance required.  We believe that our allowance for loan losses is adequate to cover identifiable losses, as well as estimated losses inherent in our portfolio for which certain losses are probable but not specifically identifiable.

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Management performs a formal quarterly evaluation of the adequacy of the allowance for loan losses.  This quarterly process is performed by the accounting department, in conjunction with the credit administration department, and approved by the Controller. The Chief Financial Officer performs a final review of the calculation.  All supporting documentation with regard to the evaluation process is maintained by the accounting department.  Each quarter a summary of the allowance for loan losses is presented by the Chief Financial Officer to the audit committee of the board of directors.

The analysis of the allowance for loan losses has a component for impaired loans held-for-investment and PCI loans, and a component for general loan losses.  Prior to December 31, 2016, we maintained an amount identified as the unallocated component within the allowance for loan losses related to indicators of loan losses not fully captured in other components of the allowance for loan losses methodology, as well as the inherent imprecision of the loss estimation process.  During the fourth quarter of 2016, the Company enhanced the allowance for loan losses qualitative framework to more fully capture the risks related to certain loan loss factors. These enhancements are meant to increase the level of precision in the allowance for loan losses.  As a result, the Company will no longer have an unallocated reserve in its allowance for loan losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective loan portfolios.

Management has defined an impaired loan (excluding PCI loans) to be a loan for which it is probable, based on current information, that we will not collect all amounts due in accordance with the contractual terms of the loan agreement.  We have defined the population of impaired loans to be all non-accrual loans with an outstanding balance of $500,000 or greater, and all loans identified as a TDR.  Impaired loans are individually assessed to determine that the loan’s carrying value is not in excess of the estimated fair value of the collateral (less cost to sell), if the loan is collateral dependent, or the present value of the expected future cash flows, if the loan is not collateral dependent. Management performs a detailed evaluation of each impaired loan and generally obtains updated appraisals as part of the evaluation.  In addition, management adjusts estimated fair values down to appropriately consider recent market conditions, our willingness to accept, when appropriate, a lower sales price to effect a quick sale, and costs to dispose of any supporting collateral.  Determining the estimated fair value of underlying collateral (and related costs to sell) can be difficult in illiquid real estate markets and is subject to significant assumptions and estimates.  Management employs an independent third-party expert in appraisal preparation and review to ascertain the reasonableness of all appraisals.  Projecting the expected cash flows under TDRs is inherently subjective and requires, among other things, an evaluation of the borrower’s current and projected financial condition.  Actual results may be significantly different than our projections, and our established allowance for loan losses on these loans, and could have a material effect on our financial results.

The second component of the allowance for loan losses is the general loss allocation.  This assessment excludes impaired, trouble-debt restructured, and PCI loans, with loans being placed into groups with similar risk characteristics, primarily loan type, loan-to-value (if collateral dependent) and internal credit risk rating.  We apply an estimated loss rate to each loan group.  The loss rates applied are based on our net loss experience (using appropriate look-back and loss emergence periods) as adjusted, if appropriate, for our qualitative assessment of factors which may not be fully captured in our historical quantitative net loss rates applied to:

• changes in lending policies and procedures;

• changes in local, regional, national, and international economic and business conditions and developments that affect the collectability of our portfolio, including the condition of various market segments;

• changes in the nature and volume of our portfolio and in the terms of our loans;

• changes in the experience, ability and depth of lending management and other relevant staff;

• changes in the volume and severity of past due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans;

• changes in the quality of our loan review system;

• changes in the value of underlying collateral for collateral-dependent loans;

• the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and

• the effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our existing portfolio.

The loss emergence period is the estimated time from the date of the loss event to the actual recognition of the loss (typically the first charge-off), and is determined based upon a study of the Company's past loss experience by loan groups. 

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This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based on changes in economic and real estate market conditions.  Actual loan losses may be significantly different than the allowance for loan losses we have established, which could have a material effect on our financial results.

We have a concentration of loans secured by real property located in New York City, New Jersey, and, to a lesser extent, eastern Pennsylvania.  As a substantial amount of our loan portfolio is collateralized by real estate, appraisals of the underlying value of property securing loans are critical in determining the amount of the allowance required for specific loans. Assumptions for appraisal valuations are instrumental in determining the value of properties.  Overly optimistic assumptions or negative changes to assumptions could significantly impact the valuation of a property securing a loan and the related allowance determined.  The assumptions supporting such appraisals are reviewed by management and an independent third-party appraiser to determine that the resulting values reasonably reflect amounts realizable on the collateral.  Based on the composition of our loan portfolio, we believe the primary risks are increases in interest rates, a decline in the economy generally, or a decline in real estate market values in New York, or New Jersey, or eastern Pennsylvania.  Any one or a combination of these events may adversely affect our loan portfolio resulting in delinquencies, increased loan losses, and future loan loss provisions.

Although we believe we have established and maintained the allowance for loan losses at adequate levels, changes may be necessary if future economic or other conditions differ substantially from our estimation of the current operating environment.  Although management uses the information available, the level of the allowance for loan losses remains an estimate that is subject to significant judgment and short-term change.  In addition, the OCC, as an integral part of their examination process, will review our allowance for loan losses and may require us to recognize adjustments to the allowance based on their judgments about information available to them at the time of their examination.

Additionally, held-for-investment loans acquired with no evidence of credit deterioration are initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses. These loans are collectively evaluated for impairment on a quarterly basis as part of our analysis of the allowance for loan losses. 

We also maintain an allowance for estimated losses on off-balance sheet credit risks related to loan commitments and standby letters of credit.  Management utilizes a methodology similar to its allowance for loan loss methodology to estimate losses on these items.  The allowance for estimated credit losses on these items is included in other liabilities and any changes to the allowance are recorded as a component of other non-interest expense.

Purchased Credit-Impaired Loans.  PCI loans are subject to our internal credit review.  If and when credit deterioration occurs at the loan pool level subsequent to the acquisition date, a provision for credit losses for PCI loans will be charged to earnings for the full amount of the decline in expected cash flows for the pool.  Under the accounting guidance for acquired credit-impaired loans, the allowance for loan losses on PCI loans is measured at each financial reporting date based on future expected cash flows.  This assessment and measurement is performed at the pool level and not at the individual loan level.  Accordingly, decreases in expected cash flows resulting from further credit deterioration, on a pool basis, as of such measurement date compared to those originally estimated are recognized by recording a provision and allowance for credit losses on PCI loans.  Subsequent increases in the expected cash flows of the loans in each pool would first reduce any allowance for loan losses on PCI loans; and any excess will be accreted prospectively as a yield adjustment.  The analysis of expected cash flows for pools incorporates updated pool level expected prepayment rates, default rates, delinquency levels, and loan level loss severity given default assumptions.  The expected cash flows are estimated based on factors which include loan grades established in Northfield Bank's ongoing credit review program, likelihood of default based on observations of specific loans during the credit review process as well as applicable industry data, loss severity based on updated evaluation of cash flows from available collateral, and the contractual terms of the underlying loan agreement.  Actual cash flows could differ from those expected, and others provided with the same information could draw different reasonable conclusions and calculate different expected cash flows.

Goodwilland Other Intangibles.  We record all assets and liabilities in acquisitions, including goodwill and other intangible assets, at fair value as of the acquisition date, and expense all acquisition related costs as incurred.  Goodwill totaling $38.4 million at December 31, 2016, is not amortized but is subject to annual tests for impairment or more often if events or circumstances indicate it may be impaired.  Other intangible assets, such as core deposit intangibles, are amortized over their estimated useful lives and are subject to impairment tests if events or circumstances indicate a possible inability to realize the carrying amount. Such evaluation of other intangible assets is based on undiscounted cash flow projections. The initial recording of goodwill and other intangible assets requires subjective judgments concerning estimates of the fair value of the acquired assets and assumed liabilities.

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The goodwill impairment analysis is generally a two-step test. However, under current accounting guidance, we first assess qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. We are not required to calculate the fair value of our reporting unit if, based on a qualitative assessment, we determine that it was more likely than not that the unit’s fair value was not less than its carrying amount. During 2016, we elected to perform step one of the two-step goodwill impairment test for our reporting unit, but may perform the optional quantitative assessment in future periods. The first step compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired; however, if the carrying amount of the reporting unit exceeds its fair value, an additional step must be performed. That additional step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, i.e., by measuring the excess of the estimated fair value of the reporting unit, as determined in the first step above, over the aggregate estimated fair values of the individual assets, liabilities, and identifiable intangibles, as if the reporting unit was being acquired in a business combination at the impairment test date. An impairment loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value. The loss establishes a new basis in the goodwill and subsequent reversal of goodwill impairment losses are not permitted.

Securities Valuation and Impairment.  Our securities portfolio is comprised of mortgage-backed securities and, to a lesser extent, corporate bonds, municipal bonds, mutual funds and loan funds.  Our available-for-sale securities portfolio is carried at estimated fair value, with any unrealized gains or losses, net of taxes, reported as accumulated other comprehensive income or loss in stockholders’ equity.  Our trading securities portfolio is reported at estimated fair value.  Our held-to-maturity securities portfolio, consisting of debt securities for which we have a positive intent and ability to hold to maturity, is carried at amortized cost.  We conduct a quarterly review and evaluation of the available-for-sale and held-to-maturity securities portfolios to determine if the estimated fair value of any security has declined below its amortized cost, and whether such decline is other-than-temporary.  If such decline is deemed other-than-temporary, we adjust the cost basis of the security by writing down the security to estimated fair value through a charge to current period operations.  The estimated fair values of our securities are primarily affected by changes in interest rates, credit quality, and market liquidity.

Management is responsible for determining the estimated fair value of the securities in our portfolio.  In determining estimated fair values, each quarter management utilizes the services of an independent third-party service, recognized as a specialist in pricing securities.  The independent pricing service utilizes market prices of same or similar securities whenever such prices are available.  Prices involving distressed sellers are not utilized in determining fair value, if identifiable.  Where necessary, the independent third-party pricing service estimates fair value using models employing techniques such as discounted cash flow analyses.  The assumptions used in these models typically include assumptions for interest rates, credit losses, and prepayments, utilizing observable market data, where available.  Where the market price of the same or similar securities is not available, the valuation becomes more subjective and involves a high degree of judgment.  In addition, we compare securities prices to a second independent pricing service that is utilized as part of our asset liability risk management process and analyze significant anomalies in pricing including significant fluctuations, or lack thereof, in relation to other securities.  At December 31, 2016, and for each quarter end in 2016, all securities were priced by an independent third-party pricing service, and management made no adjustment to the prices received.

Determining that a decline in a security’s estimated fair value is other-than-temporary is inherently subjective, and becomes increasing difficult as it relates to mortgage-backed securities that are not guaranteed by the U.S. Government, or a U.S. Government Sponsored Enterprise (e.g., Fannie Mae and Freddie Mac).  In performing our evaluation of securities in an unrealized loss position, we consider, among other things, the severity and duration of time that the security has been in an unrealized loss position and the credit quality of the issuer.  As it relates to private label mortgage-backed securities not guaranteed by the U.S. Government, Fannie Mae, or Freddie Mac, we perform a review of the key underlying loan collateral risk characteristics including, among other things, origination dates, interest rate levels, composition of variable and fixed rates, reset dates (including related pricing indices), current loan to original collateral values, locations of collateral, delinquency status of loans, and current credit support.  In addition, for securities experiencing declines in estimated fair values of over 10%, as compared to its amortized cost, management also reviews published historical and expected prepayment speeds, underlying loan collateral default rates, and related historical and expected losses on the disposal of the underlying collateral on defaulted loans.  This evaluation is subjective as it requires estimates of future events, many of which are difficult to predict.  Actual results could be significantly different than our estimates and could have a material effect on our financial results. 

Deferred Income Taxes.We use the asset and liability method of accounting for income taxes.  Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary

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differences are expected to be recovered or settled.  If it is determined that it is more likely than not that the deferred tax assets will not be realized, a valuation allowance is established.  We consider the determination of this valuation allowance to be a critical accounting policy because of the need to exercise significant judgment in evaluating the amount and timing of recognition of deferred tax liabilities and assets, including projections of future taxable income.  These judgments and estimates are reviewed quarterly as regulatory and business factors change.  A valuation allowance for deferred tax assets may be required if the amounts of taxes recoverable through loss carry backs decline, or if we project lower levels of future taxable income.  Such a valuation allowance would be established and any subsequent changes to such allowance would require an adjustment to income tax expense that could adversely affect our operating results.

Stock Based Compensation.  We recognize the cost of director and employee services received in exchange for awards of equity instruments based on the grant-date fair value.

We estimate the per share fair value of options on the date of grant using the Black-Scholes option pricing model using assumptions for the expected dividend yield, expected stock price volatility, risk-free interest rate and expected option term.  These assumptions are based on our judgments regarding future option exercise experience and market conditions.  These assumptions are subjective in nature, involve uncertainties, and, therefore, cannot be determined with precision.  The Black-Scholes option pricing model also contains certain inherent limitations when applied to options that are not traded on public markets.

The per share fair value of options is highly sensitive to changes in assumptions.  In general, the per share fair value of options will move in the same direction as changes in the expected stock price volatility, risk-free interest rate and expected option term, and in the opposite direction of changes in the expected dividend yield.  The use of different assumptions or different option pricing models could result in materially different per share fair values of options.

Comparison of Financial Condition at December 31, 2016 and 2015

Total assets increased $647.5 million, or 20.2%, to $3.85 billion at December 31, 2016, from $3.20 billion at December 31, 2015.  The increase was primarily attributable to increases in loans held-for-investment, net, of $594.4 million, cash and cash equivalents of $44.2 million, goodwill of $22.3 million, and bank owned life insurance of $15.3 million. The increases were partially offset by a decrease in securities available-for-sale of $42.7 million. The overall increase in assets was primarily due to assets acquired from the Hopewell Valley acquisition.

Total loans held-for-investment, net, increased $594.4 million to $2.97 billion at December 31, 2016, as compared to $2.37 billion at December 31, 2015. The increase was primarily attributable to the addition of $342.6 million of loans acquired from Hopewell Valley, three loan pool purchases totaling $165.9 million, which consisted of primarily multifamily loans, and, to a lesser extent, originated loan growth.

Originated loans held-for-investment, net, totaled $2.14 billion at December 31, 2016, as compared to $1.93 billion at December 31, 2015. The increase was primarily due to an increase in multifamily real estate loans of $187.9 million, or 14.2%, to $1.51 billion at December 31, 2016, from $1.32 billion at December 31, 2015. The following tables details our multifamily real estate originations for the years ended December 31, 2016 and 2015 (dollars in thousands):

Year ended December 31, 2016
Multifamily Originations		Weighted Average Interest Rate	Weighted Average Loan-to-Value Ratio	(F)ixed or (V)ariable	Weighted Average Months to Next Rate Change or Maturity for Fixed Rate Loans	Amortization Term
$	312,716	3.41%	62%	V	80	30 Years
11,821		3.76%	40%	F	140	7- 20 Years
$	324,537	3.42%	62%

Year ended December 31, 2015
Multifamily Originations		Weighted Average Interest Rate	Weighted Average Loan-to-Value Ratio	(F)ixed or (V)ariable	Weighted Average Months to Next Rate Change or Maturity for Fixed Rate Loans	Amortization Term
$	394,694	3.37%	60%	V	75	15 to 30 Years
5,829		4.01%	26%	F	180	15 Years
$	400,523	3.37%	59%

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Acquired loans increased by $384.2 million to $793.2 million at December 31, 2016, from $409.0 million at December 31, 2015, due to $342.6 million of loans acquired from Hopewell Valley, and loan pool purchases totaling $165.9 million, which consisted primarily of multifamily loans, partially offset by paydowns. The following table provides the details of the loans purchased during the year ended December 31, 2016 (dollars in thousands):

The following table provides the details of the loans purchased during the year ended December 31, 2016 (dollars in thousands):

Amounts(1)(2)		Weighted Average Interest Rate(3)	Weighted Average Loan-to-Value Ratio	Weighted Average Months to Next Rate Change or Maturity for Fixed Rate Loans	(F)ixed or (V)ariable	Amortization Term
$	27,415	3.98%	30%	120	F	30 Years
48,445		2.95%	53%	46	V	30 Years
82,242		2.93%	49%	33	V	30 Years
7,760		2.85%	66%	30	V	30 Years
$	165,862	3.11%	45%

(1) At time of purchase

(2) Comprised of $153.2 million multifamily loans, $7.8 million commercial real estate loans, and $4.9 million one-to-four family residential loans

(3) Net of servicing fee retained by the originating bank

The properties securing the above loans are primarily located in New York State.

The following table provides the details of the one-to-four family residential real estate loans purchased during the year ended December 31, 2015 (dollars in thousands):

Amounts(1)		Weighted Average Interest Rate(2)	Weighted Average Loan-to-Value Ratio	Weighted Average Months to Next Rate Change	Amortization Term	Amortization Type
$	49,345	2.49%	62%	44	30 Years	Fully amortizing
78,086		2.38%	59%	35	20 Years(3)	Delayed amortizing
$	127,431	2.42%	60%

(1) At time of purchase

(2) Net of servicing fee

(3) 20 years of amortization begins after an interest-only period for the first 10 years

The weighted average coupon of 2.42% noted in the above table is net of the servicing fee retained by the originating bank.  Of the total loans purchased in the table above, $78.1 million, or 61%, are interest-only for the first 10 years and will re-price in less than five years at one month LIBOR plus a weighted average margin of 1.6%; a floor rate also is included in the terms.  The remainders of the loan pools are scheduled to make principal and interest payments and will re-price in less than five years at one month LIBOR plus a weighted average margin of 1.9%, also with a floor rate included in the terms.  The properties securing the loans are located (by state) as follows: 62.5% in New York, 22.2% in Massachusetts, and 15.3% in other states.

The multifamily loans purchased in 2015 had a weighted average interest rate of 3.37%, a weighted average loan-to-value ratio of 41.1%, and an amortization term of 10 to 15 years at time of purchase. The loans are secured by properties located in New York State.

Purchased credit-impaired (PCI) loans totaled $30.5 million at December 31, 2016, as compared to $33.1 million at December 31, 2015, and included $4.8 million of PCI loans acquired as part of the Hopewell Valley acquisition. The remaining $25.7 million of PCI loans were primarily acquired as part of a transaction with the Federal Deposit Insurance Corporation. The Company accreted interest income of $5.2 million for the year ended December 31, 2016, as compared to $4.5 million for the year ended December 31, 2015.

Cash and cash equivalents increased by $44.2 million, or 85.3%, to $96.1 million at December 31, 2016, from $51.9 million at December 31, 2015, due in part to $55.5 million of cash and cash equivalents acquired in the Hopewell transaction. Balances fluctuate based on the timing of receipt of security and loan repayments and the redeployment of cash into higher-yielding assets, or the funding of deposit or borrowing obligations.

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The securities available-for-sale portfolio totaled $498.9 million at December 31, 2016, compared to $541.6 million at December 31, 2015. At December 31, 2016, $448.8 million of the portfolio consisted of residential mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac, or Ginnie Mae. In addition, the Company held $45.2 million in corporate bonds, all of which were considered investment grade at December 31, 2016, and other securities of $4.9 million (including $1.2 million of equity investments in mutual funds). The effective duration of the securities portfolio at December 31, 2016 was 3.96 years.

Bank owned life insurance increased $15.3 million, or 11.5%, to $148.0 million at December 31, 2016, from $132.8 million at December 31, 2015. The increase was primarily due to $11.3 million of bank owned life insurance acquired from Hopewell Valley, as well as income earned on bank owned life insurance for the year ended December 31, 2016.

Goodwill increased $22.3 million, or 137.7%, to $38.4 million at December 31, 2016, from $16.2 million at December 31, 2015, due to goodwill arising on the Hopewell Valley acquisition.

Total liabilities increased $586.1 million, or 22.2%, to $3.23 billion at December 31, 2016, from $2.64 billion at December 31, 2015.  The increase was primarily attributable to an increase in deposits of $660.7 million, partially offset by decreases in securities sold under agreements to repurchase of $55.0 million and other borrowings of $29.9 million due to a shift in our balance sheet funding strategy. The increase in deposits was primarily due to $456.2 million of deposits acquired from Hopewell Valley.

Deposits increased $660.7 million, or 32.2%, to $2.71 billion at December 31, 2016, from $2.05 billion at December 31, 2015. The increase was attributable to increases of $377.0 million in transaction accounts, $270.5 million in money market accounts, and $36.2 million in certificate of deposit accounts, partially offset by a decrease in savings accounts of $23.1 million.

Borrowings, consisting primarily of FHLB advances and repurchase agreements, decreased by $84.9 million, or 15.2%, to $473.2 million at December 31, 2016, from $558.1 million at December 31, 2015. Management utilizes borrowings to mitigate interest rate risk, for short-term liquidity to fund loan growth, and to a lesser extent as part of leverage strategies. The growth in deposits enabled the Company to reduce its borrowings in 2016.

Total stockholders’ equity increased by $61.4 million to $621.2 million at December 31, 2016, from $559.8 million at December 31, 2015. This increase was primarily due to common stock issued in conjunction with the Hopewell Valley transaction, which resulted in a $41.7 million increase in equity, and net income of $26.1 million, partially offset by dividends payments of $14.1 million. To a lesser extent, the recognition of stock compensation expense associated with equity awards and the exercise of stock options, partially offset by an increase in unrealized losses on our securities-available-for sale portfolio, also contributed to the increase in equity.

Comparison of Operating Results for the Years Ended December 31, 2016 and 2015

Net Income. Net income was $26.1 million and $19.5 million for the years ended December 31, 2016 and 2015, respectively. Net income for the year ended December 31, 2016, included merger-related expenses of $4.0 million ($2.4 million, after tax), associated with the acquisition of Hopewell Valley. Net income for the year ended December 31, 2015, included merger-related expenses of $672,000 ($574,000, after tax), associated with the acquisition of Hopewell Valley and a tax charge of $795,000 related to the write-down of deferred tax assets as a result of New York City tax reforms enacted in April 2015. Other significant variances from the prior year are as follows: a $21.2 millionincrease in net interest income, a $2.2 millionincrease in non-interest income, a $14.8 millionincrease in non-interest expense, and a $1.7 millionincrease in income tax expense.

Interest Income.  Interest income increased by $23.2 million, or 22.8%, to $125.0 million for the year ended December 31, 2016, as compared to $101.8 million for the year ended December 31, 2015, due to an increase in the average balance of interest-earning assets of $561.0 million, or 19.3%, and a 10 basis point increase in the yields earned to 3.61% from 3.51% for the prior year. The increase in the average balance of interest-earning assets was primarily attributable to an increase in average loans of $632.3 million, partially offset by a decrease in average mortgage-backed securities of $95.3 million. The increase in average loan balances was largely due to $342.6 million of loans added through the Hopewell Valley acquisition, $165.9 million in loan pool purchases of primarily multifamily loans, and, to a lesser extent, originated loan growth. The Company accreted interest income related to its PCI loans of $5.2 million for the year ended December 31, 2016, as compared to $4.5 million for the year ended December 31, 2015. Interest income for the year ended December 31, 2016, included loan prepayment income of $1.9 million, compared to $2.1 million for the year ended December 31, 2015.

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Interest Expense.  Interest expense increased $2.0 million, or 10.1%, to $21.7 million for the year ended December 31, 2016, from $19.7 million for the year ended December 31, 2015.  The increase was due to an increase of $3.9 million in interest expense on deposits, partially offset by a decrease of $1.9 million in interest expense on borrowings. The increase in interest expense on deposits was attributable to an increase in the average balance of interest-bearing deposits of $546.7 million, or 33.1%, to $2.20 billion for the year ended December 31, 2016, from $1.65 billion for the year ended December 31, 2015, and a two basis point increase in the cost of interest-bearing deposits to 0.65% from 0.63%. The decrease in interest expense on borrowings was attributable to a decrease in the average balance of borrowings of $103.1 million and a six basis point decrease in borrowing costs from 1.56% at December 31, 2015, to 1.50% at December 31, 2016.

Net Interest Income.  Net interest income for the year ended December 31, 2016, increased $21.2 million, or 25.9%, to $103.3 million, from $82.1 million for the prior year, primarily due to a $561.0 million, or 19.3%, increase in our average interest-earning assets and a 15 basis point increase in our net interest margin to 2.98%. Yields earned on interest-earning assets increased 10 basis points to 3.61% for the year ended December 31, 2016, from 3.51% for the year ended December 31, 2015. The cost of interest-bearing liabilities decreased eight basis points to 0.80% for the year ended December 31, 2016, as compared to 0.88% for the prior year.

Provision for Loan Losses. The provision for loan losses increased $282,000 to $635,000 for the year ended December 31, 2016, from $353,000 for the year ended December 31, 2015, primarily due to growth of the originated loan portfolio, partially offset by an improvement in asset quality indicators, including declines in non-performing and delinquent loans, and lower net charge-offs. Acquired loans, including those acquired from Hopewell Valley, are valued at estimated fair value on the date of acquisition, with no related allowance for loan losses. Net charge-offs were $810,000 for the year ended December 31, 2016, compared to net charge-offs of $1.9 million for the year ended December 31, 2015.

Non-interest Income.    Non-interest income increased $2.2 million, or 27.5%, to $10.1 million for the year ended December 31, 2016, from $7.9 million for the year ended December 31, 2015, primarily due to increases in fees and service charges for customer services of $989,000, income on bank owned life insurance of $231,000, and gains on securities transactions, net, of $1.2 million. These increases were partially offset by a decrease in other income of $198,000, primarily related to realized gains on sales of other real estate owned properties during 2015. Securities gains, net, in 2016 included gains of $507,000, net, related to the Company’s trading portfolio, while 2015 results included losses of $396,000 related to the Company’s trading portfolio. The trading portfolio is utilized to fund the Company’s deferred compensation obligation to certain employees and directors of the Company's deferred compensation plan (the “Plan”). The participants of this Plan, at their election, defer a portion of their compensation. Gains and losses on trading securities have no effect on net income since participants benefit from, and bear the full risk of, changes in the trading securities market values. Therefore, the Company records an equal and offsetting amount in compensation expense, reflecting the change in the Company’s obligations under the Plan.

Non-interest Expense.   Non-interest expense increased $14.8 million, or 25.5%, to $72.9 million for the year ended December 31, 2016, from $58.1 million for the year ended December 31, 2015, primarily due to: (1) a $10.0 million increase in compensation and employee benefits largely driven by increased salary and benefit expense attributable to the addition of Hopewell Valley employees and general merit-related salary increases effective January 1, 2016, charges of $2.4 million related to severance, retention, and change-in-control compensation associated with the Hopewell Valley acquisition, and an increase in stock compensation expense related to the 2014 Equity Incentive Plan; (2) a $1.4 million increase in occupancy expense due to the addition of nine Hopewell Valley branches; (3) a $2.3 million increase in data processing costs, of which approximately $1.1 million was due to conversion costs associated with the Hopewell Valley acquisition; (4) an increase in professional fees of $424,000; and (5) an $832,000 increase in other expense, primarily due to increases in core deposit premium amortization, advertising costs, and general office expenses related to the Hopewell Valley acquisition.

Income Tax Expense.  The Company recorded income tax expense of $13.7 million for the year ended December 31, 2016, compared to $12.0 million for the year ended December 31, 2015. The effective tax rate for the year ended December 31, 2016, was 34.3% compared to 38.0% for the year ended December 31, 2015. Income tax expense for the year ended December 31, 2016, included $211,000 in non-deductible merger related expenses. Income tax expense for the year ended December 31, 2015, included a deferred tax asset write-down of $795,000 related to New York City tax reforms enacted in April 2015 and $574,000 in non-deductible merger related expenses.

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Comparison of Operating Results for the Years Ended December 31, 2015 and 2014

Net Income. Net income was $19.5 million and $20.3 million for the yearsended December 31, 2015and 2014, respectively.  Significant variances from the prior year are as follows: a $5.7 million increase in net interest income, a $292,000 decrease in the provision for loan losses, a $562,000decrease in non-interest income, and a $6.1 million increase in non-interest expense.

Interest Income.  Interest income increased by $10.1 million, or 11.0%, to $101.8 million for the year ended December 31, 2015, as compared to $91.7 million for the year ended December 31, 2014.  The increase was primarily due to a $335.1 million, or 13.0%, increase in average interest-earning assets, partially offset by a six basis point decline in the yields earned to 3.51% from 3.57% for the prior year. The increase in average interest-earning assets was due primarily to an increase in average loans outstanding of $520.7 million, partially offset by a decrease in average mortgage-backed securities of $176.5 million. The decline in yields was primarily due to lower rates earned on loans. The year ended December 31, 2015 included loan prepayment income of $2.1 million compared to $1.2 million for the year ended December 31, 2014.

Interest Expense.  Interest expense increased $4.3 million, or 28.2%, to $19.7 million for the year ended December 31, 2015, from $15.4 million for the year ended December 31, 2014.  The increase was primarily attributable to an increase in interest expense on deposits, resulting from a $396.4 million, or 31.5%, increase in the average balance of interest bearing deposits and a 20 basis point increase in the cost of interest bearing deposits to 0.63% from 0.43% for the prior year, due to higher rates offered on our deposit products to remain competitive.

Net Interest Income. Net interest income increased $5.7 million, or 7.5%, to $82.1 million for the year ended December 31, 2015, from $76.3 million for the year ended December 31, 2014. The increase was driven by a $335.1 million, or 13.0%, increase in average interest-earning assets, partially offset by a 14 basis point decrease in our net interest margin to 2.83% from 2.97% for the prior year. Net interest income for the year ended December 31, 2015, also was affected by an increase in interest expense, driven by a $402.5 million, or 21.8%, increase in our average interest-bearing liabilities. The cost of interest-bearing liabilities increased five basis points to 0.88% from 0.83% for the prior year, resulting from an increase in the cost of interest-bearing deposits, partially offset by lower rates on borrowed funds.

Provision for Loan Losses.  The provision for loan losses decreased $292,000, or 45.3%, to $353,000 for the year ended December 31, 2015, from $645,000 for the year ended December 31, 2014. While the loan portfolio has grown during the year, continued improvement in asset quality indicators, non-accrual trends, and general improvement in economic and business conditions, have helped lower the provision. Net charge-offs were $1.9 million for the year ended December 31, 2015, compared to net charge-offs of $390,000 for the year ended December 31, 2014. The increased level of charge-offs was primarily related to five previously impaired loans to one borrower that were restructured during the first quarter of 2015 and then subsequently sold in the fourth quarter of 2015. These loans had existing specific reserves associated with them that adequately covered the charge-offs, resulting in no significant effect on the provision for loan losses for the year ended December 31, 2015.

Non-interest Income.    Non-interest income decreased $562,000, or 6.6%, to $7.9 million for the year ended December 31, 2015, from $8.5 million for the year ended December 31, 2014, due to decreases in fees and service charges for customer services of $128,000, income on bank owned life insurance of $135,000, and gains on securities transactions, net, of $566,000. These decreases were partially offset by an increase in other income of $267,000, primarily related to realized gains on sales of other real estate owned properties during the year ended December 31, 2015. Securities losses, net, in 2015 included losses of $396,000 related to the Company’s trading portfolio, while 2014 results included losses of $155,000 related to the Company’s trading portfolio.  The trading portfolio is utilized to fund the Company’s deferred compensation obligation to certain employees and directors of the Company's deferred compensation plan (the Plan). The participants of this Plan, at their election, defer a portion of their compensation. Gains and losses on trading securities have no effect on net income since participants benefit from, and bear the full risk of, changes in the trading securities market values. Therefore, the Company records an equal and offsetting amount in compensation expense, reflecting the change in the Company’s obligations under the Plan. 

Non-interest Expense.   Non-interest expense increased $6.1 million, or 11.7%, to $58.1 million for the year ended December 31, 2015, from $52.0 million for the year ended December 31, 2014. This was primarily due to a $3.6 million increase in compensation and employee benefits, primarily attributable to increased salary expense and equity compensation expense, related to equity awards issued in June 2014 and May 2015, a $423,000 increase in occupancy costs, attributable to higher rent and real estate taxes, a $579,000 increase in professional fees, primarily attributable to merger expenses associated with the Company's merger with Hopewell Valley, which was completed on January 8, 2016, and a $1.3

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million increase in other expenses, largely due to an increase in Directors' equity awards. By comparison, non-interest expense for the year ended December 31, 2014, was favorably affected by a pre-tax gain of $937,000 related to the settlement of the former Flatbush Federal Savings & Loan Association pension plan.

Income Tax Expense.  The Company recorded income tax expense of $12.0 million for the year ended December 31, 2015, compared to $11.9 million for the year ended December 31, 2014.  The effective tax rate for the year ended December 31, 2015, was 38.0% compared to 36.9% for the year ended December 31, 2014. Income tax expense for the year ended December 31, 2015, included a deferred tax asset write-down of $795,000 related to New York City tax reforms enacted in April 2015, whereas the prior year included a deferred tax asset write-down of $570,000 related to New York State tax reforms enacted in March 2014. The year ended December 31, 2015, also included $574,000 in non-deductible merger related expenses.

Average Balances and Yields

The following tables set forth average balance sheets, average yields and costs, and certain other information for the years indicated.  No tax-equivalent yield adjustments have been made, as we had no tax-free interest-earning assets during the years.  All average balances are daily average balances based upon amortized costs.  Non-accrual loans are included in the computation of average balances.  The yields set forth below include the effect of deferred fees, discounts, and premiums that are amortized or accreted to interest income or interest expense.

	For the Years Ended December 31,
	2016						2015						2014
	Average Outstanding Balance		Interest		Average Yield/ Rate		Average Outstanding Balance		Interest		Average Yield/ Rate		Average Outstanding Balance		Interest		Average Yield/ Rate
	(Dollars in thousands)
Interest-earning assets:
Loans (1)	$	2,781,336	$	111,776	4.02	%	$	2,149,011	$	87,179	4.06	%	$	1,628,325	$	73,407	4.51	%
Mortgage-backed securities (2)	525,355		10,832		2.06	%	620,653		12,982		2.09	%	797,146		16,861		2.12	%
Other securities(2)	57,240		908		1.59	%	42,017		328		0.78	%	79,879		604		0.76	%
FHLB of New York stock	25,405		1,171		4.61	%	25,484		1,149		4.51	%	21,349		772		3.62	%
Interest-earning deposits	74,892		285		0.38	%	66,017		120		0.18	%	41,373		57		0.14	%
Total interest-earning assets	3,464,228		124,972		3.61	%	2,903,182		101,758		3.51	%	2,568,072		91,701		3.57
Non-interest-earning assets	268,154						219,566						207,490
Total assets	$	3,732,382					$	3,122,748					$	2,775,562
Interest-bearing liabilities:
Savings, NOW, and money market accounts	$	1,619,250	7,758		0.48	%	$	1,140,508	4,957		0.43	%	$	950,234	2,211		0.23	%
Certificates of deposit	580,973		6,529		1.12	%	512,977		5,466		1.07	%	306,803		3,180		1.04	%
Total interest-bearing deposits	2,200,223		14,287		0.65	%	1,653,485		10,423		0.63	%	1,257,037		5,391		0.43	%
Borrowings	491,802		7,381		1.50	%	594,926		9,265		1.56	%	588,890		9,961		1.69	%
Total interest-bearing liabilities	2,692,025		21,668		0.80	%	2,248,411		19,688		0.88	%	1,845,927		15,352		0.83	%
Non-interest-bearing deposits	372,946						262,318						236,425
Accrued expenses and other  liabilities	53,808						39,936						33,911
Total liabilities	3,118,779						2,550,665						2,116,263
Stockholders’ equity	613,603						572,083						659,299
Total liabilities and stockholders’ equity	$	3,732,382					$	3,122,748					$	2,775,562
Net interest income			$	103,304					$	82,070					$	76,349
Net interest rate spread (3)					2.81	%					2.63	%					2.74	%
Net interest-earning assets (4)	$	772,203					$	654,771					$	722,145
Net interest margin (5)					2.98	%					2.83	%					2.97	%
Average interest-earning assets to interest-bearing liabilities					128.68	%					129.12	%					139.12	%

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(1)	Includes non-accruing loans.
(2)	Securities available-for-sale are reported at amortized cost.
(3)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(4)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(5)	Net interest margin represents net interest income divided by average total interest-earning assets.

Rate/Volume Analysis

The following table presents the effects of changing rates and volumes on our net interest income for the years indicated.  The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume).  The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate).  The total column represents the sum of the prior columns.  For purposes of this table, changes attributable to both rate and volume, which cannot be segregated, have been allocated proportionately based on the changes due to rate and the changes due to volume. 

	Year Ended December 31,									Year Ended December 31,
	2016 vs. 2015									2015 vs. 2014
							Total									Total
	Increase (Decrease) Due to						Increase			Increase (Decrease) Due to						Increase
	Volume			Rate			(Decrease)			Volume			Rate			(Decrease)
	(Dollars in thousands)
Interest-earning assets:
Loans	$	25,404		$	(807	)	$	24,597		$	20,051		$	(6,279	)	$	13,772
Mortgage-backed securities	(1,967		)	(183		)	(2,150		)	(3,694		)	(185		)	(3,879		)
Other securities	151			429			580			(296		)	20			(276		)
FHLB of New York stock	(4		)	26			22			166			211			377
Interest-earning deposits	18			147			165			41			22			63
Total interest-earning assets	23,602			(388		)	23,214			16,268			(6,211		)	10,057
Interest-bearing liabilities:
Savings, NOW and money market accounts	2,252			549			2,801			504			2,242			2,746
Certificates of deposit	753			310			1,063			2,205			81			2,286
Total deposits	3,005			859			3,864			2,709			2,323			5,032
Borrowings	(1,558		)	(326		)	(1,884		)	105			(801		)	(696		)
Total interest-bearing liabilities	1,447			533			1,980			2,814			1,522			4,336
Change in net interest income	$	22,155		$	(921	)	$	21,234		$	13,454		$	(7,733	)	$	5,721

Asset Quality

Purchased Credit-Impaired Loans

PCI loans are recorded at estimated fair value using discounted expected future cash flows deemed to be collectible on the date acquired. Based on its detailed review of PCI loans and experience in loan workouts, management believes it has a reasonable expectation about the amount and timing of future cash flows and accordingly has classified PCI loans ($30.5 million at December 31, 2016) as accruing, even though they may be contractually past due.  At December 31, 2016, 6.6% of PCI loans were past due 30 to 89 days, and 19.3% were past due 90 days or more, as compared to 7.9% and 21.4%, respectively, at December 31, 2015.  

Originated and Acquired Loan

The discussion that follows includes originated and acquired loans, both held-for-investment and held-for-sale.

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General.  Maintaining loan quality historically has been, and will continue to be, a key element of our business strategy.  We employ conservative underwriting standards for new loan originations and maintain sound credit administration practices while the loans are outstanding.  In addition, substantially all of our loans are secured, predominantly by real estate. At December 31, 2016, our non-performing loans totaled $7.4 million, or 0.25%, of total loans held-for-investment.  At the same time, net charge-offs have remained low at 0.03% of average loans outstanding for the year ended December 31, 2016, as compared to 0.09% for the year ended December 31, 2015, and 0.02% for the year ended December 31, 2014.  

Non-performing Assets and Delinquent Loans.  The following table details non-performing assets at December 31, 2016 and 2015 (in thousands): 

	December 31,
	2016		2015
Non-accrual loans:
Held-for-investment(1)	$	5,540	$	4,456
Non-accruing loans subject to restructuring agreements:
Held-for-investment	1,781		4,351
Total non-accruing loans	7,321		8,807
Loans 90 days or more past due and still accruing:
Held-for-investment	60		15
Total non-performing loans	7,381		8,822
Other real estate owned	850		45
Total non-performing assets	$	8,231	$	8,867
Loans subject to restructuring agreements and still accruing	$	20,628	$	22,284
Accruing loans 30 to 89 days delinquent	$	10,100	$	21,620

The following table details non-performing loans by loan type at December 31, 2016 and 2015 (in thousands):  

	December 31,
	2016		2015
Non-accrual loans:
Real estate loans:
Commercial(1)	$	5,513	$	5,232
One-to-four family residential	1,629		2,574
Construction and land	—		113
Multifamily	43		559
Home equity and lines of credit	127		329
Commercial and industrial	9		—
Total non-accrual loans:	7,321		8,807
Loans delinquent 90 days or more and still accruing:
Real estate loans:
One-to-four family residential	52		—
Home equity and lines of credit	8		—
Commercial and industrial	—		15
Total loans delinquent 90 days or more and still accruing	60		15
Total non-performing loans	$	7,381	$	8,822

(1) Included in non-accrual commercial real estate loans is a loan with a balance of approximately $3.3 million at December 31, 2016, which was partially paid off in January 2017, from the sale of one of the properties collateralizing the loan, totaling approximately $3.1 million. No impairment reserve was required on this loan as of December 31, 2016.

Generally, loans, excluding PCI loans, are placed on non-accruing status when they become 90 days or more delinquent, and remain on non-accrual status until they are brought current, have six consecutive months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist.  Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent and still be on a non-accruing status.  

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 The following table sets forth the total amounts of delinquencies for accruing loans that were 30 to 89 days past due by type and by amount at the dates indicated (in thousands):    

	December 31,
	2016		2015
Real estate loans:
Commercial	$	4,578	$	13,957
One-to-four family residential	3,621		4,209
Multifamily	1,440		2,965
Home equity and lines of credit	263		374
Commercial and industrial loans	148		104
Other loans	50		11
	$	10,100	$	21,620

The decrease in the delinquent loans was due in part to one commercial real estate loan with a balance of $5.6 million at December 31, 2015, that was 31 days delinquent and became current during the first quarter of 2016. This loan had a balance of $5.5 million at December 31, 2016, is classified as an accruing TDR, and is adequately covered by collateral with a recent appraised value of $9.3 million.

Included in non-accruing loans are loans subject to restructuring agreements totaling $1.8 million and $4.4 million at December 31, 2016, and December 31, 2015, respectively.  At December 31, 2016, $1.4 million, or 76.4%, of the $1.8 million of loans subject to restructuring agreements were not performing in accordance with their restructured terms as compared to $2.3 million, or 53.2%, of the $4.4 million at December 31, 2015.  Three separate relationships account for the loans not performing in accordance with their restructured terms at December 31, 2016. These loans are primarily collateralized by real estate with an aggregate estimated fair value of $1.4 million.

The Company also holds loans subject to restructuring agreements that are on accrual status, which totaled $20.6 million and $22.3 million at December 31, 2016, and December 31, 2015, respectively.  At December 31, 2016, all of the accruing TDR loans totaling $20.6 million were performing in accordance with their restructured terms as compared to $7.2 million, or 32.3% of the $22.3 million at December 31, 2015 which were not performing in accordance with their restructured terms. Generally, the types of concessions that we make to troubled borrowers include both temporary and permanent reductions to interest rates, extensions of payment terms, and, to a lesser extent, forgiveness of principal and interest. 

The table below sets forth the amounts and categories of the TDRs as of December 31, 2016, and December 31, 2015 (in thousands):  

	At December 31,
	2016				2015
	Non-Accruing		Accruing		Non-Accruing		Accruing
Real estate loans:
Commercial	$	1,000	$	15,828	$	2,657	$	17,885
One-to-four family residential	783		2,835		1,694		2,053
Multifamily	—		1,527		—		1,876
Home equity and lines of credit	—		336		—		354
Commercial and industrial loans	—		102		—		116
	$	1,783	$	20,628	$	4,351	$	22,284

Allowance for loan losses.    The allowance for loan losses to non-performing loans (held-for-investment) increased from 280.78% at December 31, 2015, to 333.23% at December 31, 2016.  This increase was primarily attributable to a decrease in non-performing loans of $1.4 million, from $8.8 million at December 31, 2015, to $7.4 million at December 31, 2016.  All of the appraisals utilized for our impairment analysis at December 31, 2016, were completed within the last 12 months. Generally, non-performing loans are charged down to the appraised value of collateral less costs to sell, which reduces the ratio of the allowance for loan losses to non-performing loans.  Downward adjustments to appraisal values, primarily to reflect “quick sale” discounts, are generally recorded as specific reserves within the allowance for loan losses. 

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The allowance for loan losses to originated loans held-for-investment, net, decreased to 1.10% at December 31, 2016, from 1.24% at December 31, 2015.  The decrease was primarily attributable to growth in the originated portfolio from $1.93 billion at December 31, 2015, to $2.14 billion at December 31, 2016, whereas the allowance for loan losses decreased slightly. The decrease in the Company's allowance for loan losses during the year was primarily attributable to continued improvement in asset quality indicators, including declines in non-performing and delinquent loans, lower net charge-offs and a decrease in the number of impaired loans. Net charge-offs were $810,000 and $1.9 million for the years ended December 31, 2016 and 2015, respectively, compared to a provision of $635,000 and $353,000 for the years ended December 31, 2016 and 2015, respectively.

Specific reserves on impaired loans decreased $561,000, or 63.1%, from $889,000, at December 31, 2015, to $328,000 at December 31, 2016. The decrease was primarily due to fewer impaired loans at December 31, 2016. At December 31, 2016, the Company had 36 loans classified as impaired and recorded $328,000 of specific reserves on 13 of the 36 impaired loans.  At December 31, 2015, the Company had 42 loans classified as impaired and recorded $889,000 of specific reserves on 22 of the 42 impaired loans.

The following tablesets forth activity in our allowance for loan losses, by loan type,at December 31,for the years indicated (in thousands):  

	Real estate loans
	Commercial			One-to-four Family Residential			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Insurance Premium Loans		Other			PCI			Acquired			Unallocated			Total Allowance for Loan Losses
2013	$	12,619		$	875		$	205		$	9,374		$	860		$	425		$	—	$	67		$	588		$	—		$	1,024		$	26,037
Provision for loan losses	(3,279		)	134			(185		)	2,817			530			543			—		26			(188		)	62			185			645
Recoveries	72			—			246			35			—			8			—		41			—						—			402
Charge-offs	(103		)	(58		)	—			(7		)	(489		)	(135		)	—		—			—						—			(792		)
2014	9,309			951			266			12,219			901			841			—		134			400			62			1,209			26,292
Provision for loan losses	(774		)	93			(5		)	263			(33		)	484			—		5			383			53			(116		)	353
Recoveries	2			20			—			25			42			34			—		17			—			—			—			140
Charge-offs	(1,431		)	(277		)	—			(120		)	(115		)	(71		)	—		(1		)	—			—			—			(2,015		)
2015	7,106			787			261			12,387			795			1,288			—		155			783			115			1,093			24,770
Provision for loan losses	(1,217		)	(105		)	(89		)	2,843			(209		)	494			—		(62		)	113			(40		)	(1,093		)	635
Recoveries	181			2			—			—			2			4			—		5			—			—			—			194
Charge-offs	(638		)	(20		)	—			(278		)	—			(66		)	—		(2		)	—			—			—			(1,004		)
2016	$	5,432		$	664		$	172		$	14,952		$	588		$	1,720		$	—	$	96		$	896		$	75		$	—		$	24,595

During the year ended December 31, 2016, the Company recorded net charge-offs of $810,000, a decrease of $1.1 million, as compared to net charge-offs of $1.9 million for the year ended December 31, 2015.  The decrease in net charge-offs was primarily attributable to a $972,000 decrease in net charge-offs related to commercial real estate loans and a $239,000 decrease in net charge-offs related to one-to-four family real estate loans. Net charge-offs in 2015 included $1.2 million for commercial real estate loans related to five previously impaired loans to one borrower that were restructured and subsequently sold during 2015. The allowance for loan losses related to multifamily real estate loans and commercial and industrial loans increased due to growth in the portfolios. In addition, as a result of continued improvement in asset quality indicators, including declines in non-performing and delinquent loans, and lower net charge-offs, the allowance for loan losses in most of the other loan categories decreased in 2016 as compared to 2015. The increase in the allowance for PCI loans was attributable to the annual recasting of PCI cash flows. Prior to December 31, 2016, we maintained an amount identified as the unallocated component within the allowance for loan losses related to indicators of loan losses not fully captured in other components of the allowance for loan losses methodology, as well as the inherent imprecision of the loss estimation process.  During the fourth quarter of 2016, the Company enhanced the allowance for loan losses qualitative framework to more fully capture the risks related to certain loan loss factors. These enhancements are meant to increase the level of precision in the allowance for loan losses.  As a result, the Company will no longer have an unallocated reserve in its allowance for loan losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective loan portfolios.

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Management of Market Risk

General.  A majority of our assets and liabilities are monetary in nature. Consequently, our most significant form of market risk is interest rate risk. Our assets, consisting primarily of mortgage-related securities and loans, generally have longer maturities than our liabilities, which consist primarily of deposits and wholesale borrowings. As a result, a principal part of our business strategy involves managing interest rate risk and limiting the exposure of our net interest income to changes in market interest rates. Accordingly, our board of directors has established a management risk committee, comprised of our Chief Investment Officer, who chairs this Committee, our Chief Executive Officer, our President/Chief Operating Officer, our Chief Financial Officer, our Chief Lending Officer, and our Executive Vice President of Operations. This committee is responsible for, among other things, evaluating the interest rate risk inherent in our assets and liabilities, for recommending to the risk management committee of our board of directors 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.

We seek to manage our interest rate risk in order to minimize the exposure of our earnings and capital to changes in interest rates.  As part of our ongoing asset-liability management, we currently use the following strategies to manage our interest rate risk:

• originating multifamily loans and commercial real estate loans that generally have shorter maturities than one-to-four family residential real estate loans and have higher interest rates that generally reset from five to ten years;

• investing in shorter-term investment grade corporate securities and mortgage-backed securities; and

• obtaining general financing through lower-cost core deposits and longer-term FHLB advances and repurchase agreements.

Shortening the average term of our interest-earning assets by increasing our investments in shorter-term assets, as well as originating loans with variable interest rates, helps to match the maturities and interest rates of our assets and liabilities better, thereby reducing the exposure of our net interest income to changes in market interest rates.

Net Portfolio Value Analysis.  We compute amounts by which the net present value of our assets and liabilities (net portfolio value or “NPV”) would change in the event market interest rates changed over an assumed range of rates.  Our simulation model uses a discounted cash flow analysis to measure the interest rate sensitivity of NPV.  Depending on current market interest rates, we estimate the economic value of these assets and liabilities under the assumption that interest rates experience an instantaneous and sustained increase of 100, 200, 300, or 400 basis points, or a decrease of 100 and 200 basis points.  A basis point equals one-hundredth of one percent, and 100 basis points equals one percent.  An increase in interest rates from 3% to 4% would mean, for example, a 100 basis point increase in the “Change in Interest Rates” column below. 

Net Interest Income Analysis.  In addition to NPV calculations, we analyze our sensitivity to changes in interest rates through our net interest income model.  Net interest income is the difference between the interest income we earn on our interest-earning assets, such as loans and securities, and the interest we pay on our interest-bearing liabilities, such as deposits and borrowings.  In our model, we estimate what our net interest income would be for a twelve-month period.  Depending on current market interest rates we then calculate what the net interest income would be for the same period under the assumption that interest rates experience an instantaneous and sustained increase or decrease of 100, 200, 300, or 400 basis points, or a decrease of 100 and 200 basis points.

The following table sets forth, as of December 31, 2016, our calculation of the estimated changes in our NPV, NPV ratio, and percent change in net interest income that would result from the designated instantaneous and sustained changes in interest rates (dollars in thousands).  Computations of prospective effects of hypothetical interest rate changes are based on numerous assumptions, including relative levels of market interest rates, loan prepayments and deposit repricing characteristics including decay rates, and correlations to movements in interest rates, and should not be relied on as indicative of actual results.

63

	NPV at December 31, 2016
Change in Interest Rates (basis points)	Estimated Present Value of Assets		Estimated Present Value of Liabilities		Estimated NPV		Estimated Change In NPV			Estimated Change in NPV %		Estimated NPV/Present Value of Assets Ratio		Net Interest Income Percent Change
400	$	3,453,451	$	2,884,031	$	569,420	$	(200,567	)	(26.05	)%	16.49	%	(15.85	)%
300	3,551,355		2,936,326		615,029		(154,958		)	(20.12	)%	17.32	%	(11.67	)%
200	3,657,218		2,990,913		666,305		(103,682		)	(13.47	)%	18.22	%	(7.53	)%
100	3,765,179		3,047,933		717,246		(52,741		)	(6.85	)%	19.05	%	(3.68	)%
—	3,877,525		3,107,538		769,987		—			—	%	19.86	%	—	%
(100)	4,011,261		3,171,899		839,362		69,375			9.01	%	20.93	%	1.10	%
(200)	4,179,973		3,227,571		952,402		182,415			23.69	%	22.78	%	(1.89	)%

.

(1)	Assumes an instantaneous and sustained uniform change in interest rates at all maturities.
(2)	NPV includes non-interest earning assets and liabilities.

The table above indicates that at December 31, 2016, in the event of a 200 basis point decrease in interest rates, we would experience a 23.7% increase in estimated net portfolio value and a 1.9% decrease in net interest income.  In the event of a 400 basis point increase in interest rates, we would experience a 26.0% decrease in net portfolio value and a 15.9% decrease in net interest income.  Our policies provide that, in the event of a 200 basis point decrease or less in interest rates, our net present value ratio should decrease by no more than 300 basis points, or 10%, and in the event of a 400 basis point increase or less, our net present value should decrease by no more than 475 basis points, or 35%. In the event of a 200 basis point decrease or less, our projected net interest income should decrease by no more than 10% in year one, and in the event of a 400 basis point increase or less, our projected net interest income should decrease by no more than 30% in year one. However, when the federal funds rate is low and negative rate shocks do not produce meaningful results, management may temporarily suspend use of guidelines for negative rate shocks. At December 31, 2016, we were in compliance with all board approved policies with respect to interest rate risk management.

Certain shortcomings are inherent in the methodologies used in determining interest rate risk through changes in net portfolio value and net interest income.  Our model requires us to make certain assumptions that may or may not reflect the manner in which actual yields and costs respond to changes in market interest rates.  However, we also apply consistent parallel yield curve shifts (in both directions) to determine possible changes in net interest income if the theoretical yield curve shifts occurred gradually.  Net interest income analysis also adjusts the asset and liability repricing analysis based on changes in prepayment rates resulting from the parallel yield curve shifts.  In addition, the net portfolio value and net interest income information presented assume 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 assume 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 interest rate risk calculations provide 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 portfolio value or net interest income and will differ from actual results.

Liquidity and Capital Resources

Liquidity is the ability to fund assets and meet obligations as they come due.  Our primary sources of funds consist of deposit inflows, loan repayments, borrowings through repurchase agreements and advances from money center banks and the FHLB of New York, and repayments, maturities and sales of securities.  While maturities and scheduled amortization of loans and securities are reasonably predictable sources of funds, deposit flows and mortgage prepayments are greatly influenced by general interest rates, economic conditions, and competition.  Our board risk committee is responsible for establishing and monitoring our liquidity targets and strategies in order to ensure that sufficient liquidity exists for meeting the borrowing needs and withdrawals of deposits by our customers as well as unanticipated contingencies.  We seek to maintain a ratio of liquid assets (not subject to pledge or encumbered) as a percentage of deposits and borrowings of 35% or greater.  At December 31, 2016, this ratio was 46.17%.  We believe that we had sufficient sources of liquidity to satisfy our short- and long-term liquidity needs at December 31, 2016.

We regularly adjust our investments in liquid assets based on our assessment of: 

• expected loan demand; 

64

• expected deposit flows;

• yields available on interest-earning deposits and securities; and

• the objectives of our asset/liability management program. 

Our most liquid assets are cash and cash equivalents, corporate bonds, and unpledged mortgage-related securities issued or guaranteed by the U.S. Government, Fannie Mae, or Freddie Mac, that we can either borrow against or sell.  We also have the ability to surrender bank-owned life insurance contracts.  The surrender of these contracts would subject the Company to income taxes and penalties for increases in the cash surrender values over the original premium payments. 

The Company had the following primary sources of liquidity at December 31, 2016 (in thousands): 

Cash and cash equivalents	$96,085
Corporate bonds	45,159
Unpledged multifamily loans	798,600
Unpledged mortgage-backed securities (Issued or guaranteed by the U.S. Government, Fannie Mae, or Freddie Mac)	123,000

At December 31, 2016, we had $46.1 million in outstanding loan commitments.  In addition, we had $78.8 million in unused lines of credit to borrowers. Certificates of deposit due within one year of December 31, 2016, totaled $237.7 million, or 8.8% of total deposits. If these deposits do not remain with us, we will be required to seek other sources of funds, including loan sales, securities sales, other deposit products, including replacement certificates of deposit, securities sold under agreements to repurchase (repurchase agreements), and advances from the FHLB of New York and other borrowing sources.  Depending on market conditions, we may be required to pay higher rates on such deposits or other borrowings than we currently pay on the certificates of deposit due on December 31, 2016.  Based on experience, we believe that a significant portion of such deposits will remain with us, and we have the ability to attract and retain deposits by adjusting the interest rates offered.

We have a detailed contingency funding plan that is reviewed and reported to the board risk committee at least quarterly.  This planincludes monitoring cash on a daily basis to determine the liquidity needs ofthe Bank.  Additionally,managementperforms astress testonthe Bank’s retail deposits and wholesale funding sources in several scenarios on a quarterly basis. The stress scenarios include depositattritionof up to 50%,andsellingour securities available-for-sale portfolio at a discount of20% to its current estimated fair value.  TheBank continues to maintain significant liquidity under all stress scenarios. 

Northfield Bancorp, Inc. is a separate legal entity from Northfield Bank and must provide for its own liquidity to fund dividend payments, stock repurchases, and other corporate risk factors. The Company’s primary source of liquidity is the receipt of dividend payments from the Bank in accordance with applicable regulatory requirements. At December 31, 2016, Northfield Bancorp, Inc. (unconsolidated) had liquid assets of $9.0 million.

Northfield Bank is subject to various regulatory capital requirements, including a risk-based capital measure.  The risk-based capital guidelines include both a definition of capital and a framework for calculating risk-weighted assets by assigning assets and off-balance sheet items to broad risk categories.  At December 31, 2016, Northfield Bank exceeded all regulatory capital requirements and is considered “well capitalized” under regulatory guidelines.  See “Item 1. Business - Supervision and Regulation” and Note 13 of the Notes to the Consolidated Financial Statements.

During the first quarter of 2017, the Company enhanced its liquidity position by arranging for a municipal line of credit from the FHLB to be used, if needed, to collateralize our municipal deposits.

Off-Balance Sheet Arrangements and Aggregate Contractual Obligations

Commitments.As a financial services provider, we routinely are a party to various financial instruments with off-balance-sheet risks, such as commitments to extend credit, and unused lines of credit.  While these contractual obligations represent our potential future cash requirements, a significant portion of commitments to extend credit may expire without being drawn upon.  Such commitments are subject to the same credit policies and approval process applicable to loans we originate.  In addition, we routinely enter into commitments to sell mortgage loans; such amounts are not significant to our operations.  For additional information, see Note 12 of the Notes to the Consolidated Financial Statements.

65

Contractual Obligations.  In the ordinary course of our operations, we enter into certain contractual obligations.  Such obligations include leases for premises and equipment, agreements with respect to borrowed funds and deposit liabilities, and agreements with respect to investments.

The following table summarizes our significant fixed and determinable contractual obligations and other funding needs by payment date at December 31, 2016 (in thousands).  The payment amounts represent those amounts due to the recipient and do not include any unamortized premiums or discounts or other similar carrying amount adjustments.

	Payments Due by Period
Contractual Obligations	Less Than  One Year		One to Three Years		Three to Five Years		More Than Five Years		Total
Borrowings (1)	$	165,742	$	236,217	$	60,000	$	—	$	461,959
Floating rate advances	11,463		—		—		—		11,463
Operating leases	4,682		8,247		7,477		30,069		50,475
Capitalized leases	254		306		—		—		560
Certificates of deposit	237,733		204,221		94,123		—		536,077
Total	$	419,874	$	448,991	$	161,600	$	30,069	$	1,060,534
Commitments to extend credit (2)	$	124,894	$	—	$	—	$	—	$	124,894

(1)	Includes repurchase agreements, FHLB of New York advances, and accrued interest payable at December 31, 2016.
(2)	Includes unused lines of credit which are assumed to be funded within the year.

Recent Accounting Standards and Interpretations

See Note 1(s) of the Notes to the Consolidated Financial Statements.

Impact of Inflation and Changing Prices

Our consolidated financial statements and related notes have been prepared in accordance with U.S. GAAP.  U.S. GAAP generally requires the measurement of financial position and operating results in terms of historical dollars without consideration for changes in the relative purchasing power of money over time due to inflation.  The effect of inflation is reflected in the increased cost of our operations.  Unlike industrial companies, our assets and liabilities are primarily monetary in nature.  As a result, changes in market interest rates have a greater effect on our performance than inflation.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

For information regarding market risk see “Item 7. Management’s Discussion and Analysis of Financial Conditions and Results of Operations - Management of Market Risk.”

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

66

Report of Independent Registered Public Accounting Firm

The Board of Directors and Stockholders

Northfield Bancorp, Inc. and subsidiaries:

We have audited the accompanying consolidated balance sheets of Northfield Bancorp, Inc., and subsidiaries (the Company) as of December 31, 2016 and 2015, and the related consolidated statements of comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the three year period ended December 31, 2016. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Northfield Bancorp, Inc. and subsidiaries as of December 31, 2016 and 2015, and the results of their operations and their cash flows for each of the years in the three year period ended December 31, 2016, in conformity with U.S. generally accepted accounting principles.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March 16, 2017, expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.

/s/ KPMG LLP

Short Hills, New Jersey

March 16, 2017

67

Report of Independent Registered Public Accounting Firm

The Board of Directors and Stockholders

Northfield Bancorp, Inc.:

We have audited Northfield Bancorp, Inc.'s (the Company) internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed 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. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, Northfield Bancorp, Inc. maintained, in all material respects, effective internal control over financial reporting as of December 31, 2016, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Northfield Bancorp, Inc. and subsidiaries as of December 31, 2016 and 2015, and the related consolidated statements of comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2016, and our report dated March 16, 2017, expressed an unqualified opinion on those consolidated financial statements.

/s/ KPMG LLP

Short Hills, New Jersey

March 16, 2017

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Consolidated Balance Sheets

	At December 31,
	2016			2015
	(Dollars in thousands, except share data)
ASSETS:
Cash and due from banks	$	18,412		$	15,324
Interest-bearing deposits in other financial institutions	77,673			36,529
Total cash and cash equivalents	96,085			51,853
Trading securities	7,857			6,713
Securities available-for-sale, at estimated fair value (encumbered $11,786 at December 31, 2016, and $65,051 at December 31, 2015)	498,897			541,595
Securities held-to-maturity, (estimated fair value of $10,118 at December 31, 2016, and $10,369 at December 31, 2015) (encumbered $2,108 at December 31, 2016, and $5,619 at December 31, 2015)	10,148			10,346
Originated loans held-for-investment, net	2,144,346			1,931,585
Loans acquired	793,240			409,015
Purchased credit-impaired (PCI) loans held-for-investment	30,498			33,115
Loans held-for-investment, net	2,968,084			2,373,715
Allowance for loan losses	(24,595		)	(24,770		)
Net loans held-for-investment	2,943,489			2,348,945
Accrued interest receivable	9,714			8,263
Bank owned life insurance	148,047			132,782
Federal Home Loan Bank (FHLB) of New York stock, at cost	25,123			25,803
Premises and equipment, net	26,910			23,643
Goodwill	38,411			16,159
Other real estate owned	850			45
Other assets	44,563			36,437
Total assets	$	3,850,094		$	3,202,584
LIABILITIES AND STOCKHOLDERS’ EQUITY:
LIABILITIES:
Deposits	$	2,713,587		$	2,052,929
Securities sold under agreements to repurchase	8,000			63,000
Other borrowings	465,206			495,129
Advance payments by borrowers for taxes and insurance	12,331			10,862
Accrued expenses and other liabilities	29,774			20,885
Total liabilities	3,228,898			2,642,805
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 25,000,000 shares authorized, none issued or outstanding	—			—
Common stock, $0.01 par value: 150,000,000 shares authorized, 60,933,707 and 58,226,326 shares issued at December 31, 2016 and 2015, respectively, 48,526,658 and 45,565,540 outstanding at December 31, 2016 and 2015, respectively	609			582
Additional paid-in-capital	547,910			501,540
Unallocated common stock held by employee stock ownership plan	(23,466		)	(24,664		)
Retained earnings	268,226			256,170
Accumulated other comprehensive loss	(4,332		)	(2,986		)
Treasury stock at cost; 12,407,049 and 12,660,786 shares at December 31, 2016 and 2015, respectively	(167,751		)	(170,863		)
Total stockholders’ equity	621,196			559,779
Total liabilities and stockholders’ equity	$	3,850,094		$	3,202,584
See accompanying notes to consolidated financial statements.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

	Years ended December 31,
	2016		2015			2014
	(Dollars in thousands, except share and per share data)
Interest income:
Loans	$	111,776	$	87,179		$	73,407
Mortgage-backed securities	10,832		12,982			16,861
Other securities	908		328			604
FHLB of New York dividends	1,171		1,149			772
Deposits in other financial institutions	285		120			57
Total interest income	124,972		101,758			91,701
Interest expense:
Deposits	14,287		10,423			5,391
Borrowings	7,381		9,265			9,961
Total interest expense	21,668		19,688			15,352
Net interest income	103,304		82,070			76,349
Provision for loan losses	635		353			645
Net interest income after provision for loan losses	102,669		81,717			75,704
Non-interest income:
Fees and service charges for customer services	4,934		3,945			4,073
Income on bank owned life insurance	3,998		3,767			3,902
Gains/(losses) on securities transactions, net	813		(339		)	227
Other	327		525			258
Total non-interest income	10,072		7,898			8,460
Non-interest expense:
Compensation and employee benefits	39,780		29,760			26,195
Occupancy	11,411		10,039			9,616
Furniture and equipment	1,421		1,428			1,636
Data processing	6,054		3,802			3,680
Professional fees	3,461		3,037			2,458
Federal Deposit Insurance Corporation (FDIC) insurance	1,494		1,550			1,306
Other	9,325		8,493			7,151
Total non-interest expense	72,946		58,109			52,042
Income before income tax expense	39,795		31,506			32,122
Income tax expense	13,665		11,975			11,856
Net income	$	26,130	$	19,531		$	20,266
Net income per common share:
Basic	$	0.59	$	0.46		$	0.41
Diluted	$	0.57	$	0.45		$	0.41
Basic weighted average shares outstanding	44,374,389		42,285,712			49,006,129
Diluted weighted average shares outstanding	45,717,887		43,478,481			50,032,259
See accompanying notes to consolidated financial statements.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES Consolidated Statements of Comprehensive Income - (Continued)
	Years ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Net income	$	26,130		$	19,531		$	20,266
Other comprehensive (loss) income:
Unrealized (losses) gains on securities:
Net unrealized holding (losses) gains on securities	(2,202		)	(3,676		)	8,535
Less: reclassification adjustment for net gains included in net income (included in gains (losses) on securities transactions, net)	(306		)	(57		)	(382		)
Net unrealized (losses) gains	(2,508		)	(3,733		)	8,153
Post-retirement benefits adjustment	244			21			(1,689		)
Other comprehensive (loss) income, before tax	(2,264		)	(3,712		)	6,464
Income tax benefit (expense) related to net unrealized holding (losses) gains on securities	894			1,476			(3,408		)
Income tax expense related to reclassification adjustment for gains included in net income	122			23			153
Income tax (expense) benefit related to post retirement benefits adjustment	(98		)	(8		)	676
Other comprehensive (loss) income, net of tax	(1,346		)	(2,221		)	3,885
Comprehensive income	$	24,784		$	17,310		$	24,151

See accompanying notes to consolidated financial statements.

71

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Consolidated Statements of Changes in Stockholders’ Equity

	For the years ended December 31, 2016, 2015 and 2014
	Common Stock
	Shares Outstanding		Par Value		Additional Paid-in Capital			Unallocated Common Stock Held by the Employee Stock Ownership Plan			Retained Earnings			Accumulated Other Comprehensive Income (loss) Net of tax			Treasury Stock			Total Stockholders' Equity
	(Dollars in thousands, except share and per share data)
Balance at December 31, 2013	57,926,233		$	582	$	508,609		$	(26,985	)	$	242,180		$	(4,650	)	$	(3,628	)	$	716,108
Net income											20,266									20,266
Other comprehensive income, net of tax														3,885						3,885
Employee Stock Ownership Plan (ESOP) shares allocated or committed to be released					645			1,203												1,848
Stock compensation expense					2,805															2,805
Additional tax benefit on equity awards					390															390
Issuance of restricted stock	991,200				(12,633		)										12,633			—
Exercise of stock options	146,833				(210		)				(654		)				1,076			212
Cash dividends declared ($0.26 per common share)											(12,884		)							(12,884		)
Treasury stock (average cost of $13.00 per share)	(10,662,183	)															(138,702		)	(138,702		)
Balance at December 31, 2014	48,402,083		582		499,606			(25,782		)	248,908			(765		)	(128,621		)	593,928
Net income											19,531									19,531
Other comprehensive loss, net of tax														(2,221		)				(2,221		)
ESOP shares allocated or committed to be released					1,010			1,118												2,128
Stock compensation expense					6,763															6,763
Additional tax benefit on equity awards					122															122
Net issuance of restricted stock	387,280				(5,190		)										5,190			—
Exercise of stock options, net	81,789				(771		)				(85		)				1,014			158
Cash dividends declared ($0.28 per common share)											(12,184		)							(12,184		)
Treasury stock (average cost of $14.66 per share)	(3,305,612	)															(48,446		)	(48,446		)
Balance at December 31, 2015	45,565,540		582		501,540			(24,664		)	256,170			(2,986		)	(170,863		)	559,779
Net income											26,130									26,130
Other comprehensive loss, net of tax														(1,346		)				(1,346		)
Acquisition of Hopewell Valley Community Bank	2,707,381		27		41,694															41,721
ESOP shares allocated or committed to be released					1,093			1,198												2,291
Stock compensation expense					7,264															7,264
Additional tax benefit on equity awards					1,512															1,512
Net issuance of restricted stock	7,720				(198		)										198			—
Exercise of stock options, net	383,233				(4,995		)				—						5,115			120
Cash dividends declared ($0.31 per common share)											(14,074		)							(14,074		)
Treasury stock (average cost of $16.04 per share)	(137,216	)															(2,201		)	(2,201		)
Balance at December 31, 2016	48,526,658		$	609	$	547,910		$	(23,466	)	$	268,226		$	(4,332	)	$	(167,751	)	$	621,196
See accompanying notes to consolidated financial statements.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Consolidated Statements of Cash Flows

	Years Ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Cash flows from operating activities:
Net income	$	26,130		$	19,531		$	20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	635			353			645
ESOP and stock compensation expense	9,555			8,891			4,653
Depreciation	3,591			3,385			3,640
Amortization of premiums, and deferred loan costs, net of (accretion) of discounts, and deferred loan fees	2,226			1,800			1,695
Amortization of intangible assets	447			210			416
Income on bank owned life insurance	(3,998		)	(3,767		)	(3,902		)
Gain on sale of premises and equipment and other real estate owned, net	—			(282		)	—
Net gain on sale of loans held-for-sale	—			(4		)	(79		)
Proceeds from sale of loans held-for-sale	—			2,392			1,707
Origination of loans held-for-sale	—			(2,388		)	(1,157		)
(Gains) losses on securities transactions, net	(813		)	339			(227		)
Net purchases of trading securities	(637		)	(687		)	(579		)
Decrease (increase) in accrued interest receivable	1			(248		)	122
Decrease (increase) in other assets	3,052			3,359			(2,948		)
Deferred taxes	(3,059		)	(1,632		)	(1,167		)
Increase in accrued expenses and other liabilities	571			1,059			2,625
Net cash provided by operating activities	37,701			32,311			25,710
Cash flows from investing activities:
Net increase in loans receivable	(87,514		)	(246,562		)	(267,912		)
Purchase of loans	(167,345		)	(186,876		)	(186,475		)
Purchase of FHLB of New York stock	(9,497		)	(11,001		)	(20,138		)
Redemption of FHLB of New York stock	10,653			14,417			8,435
Purchases of securities available-for-sale	(105,860		)	—			(436		)
Principal payments and maturities on securities available-for-sale	162,594			173,923			161,650
Principal payments and maturities on securities held-to-maturity	181			870			442
Purchases of securities held-to-maturity	—			(7,657		)	(4,066		)
Proceeds from sale of securities available-for-sale	44,582			51,148			11,975
Proceeds from sale of premises and equipment and other real estate owned	45			918			418
Purchases and improvements of premises and equipment	(932		)	(802		)	(809		)
Net cash acquired in business combinations	55,479			—			—
Net cash used in investing activities	(97,614		)	(211,622		)	(296,916		)
Cash flows from financing activities:
Net increase in deposits	204,455			432,264			127,976
Dividends paid	(14,074		)	(12,184		)	(12,884		)
Exercise of stock options	120			158			212
Purchase of treasury stock	(2,201		)	(48,446		)	(138,702		)
Additional tax benefit on equity awards	1,512			122			390
Increase in advance payments by borrowers for taxes and insurance	1,469			3,070			1,351
Repayments under capital lease obligations	(204		)	(179		)	(272		)
Proceeds from securities sold under agreements to repurchase and other borrowings	228,978			250,314			821,373
Repayments related to securities sold under agreements to repurchase and other borrowings	(315,910		)	(470,664		)	(512,768		)
Net cash provided by financing activities	104,145			154,455			286,676
Net increase (decrease) in cash and cash equivalents	44,232			(24,856		)	15,470
Cash and cash equivalents at beginning of period	51,853			76,709			61,239
Cash and cash equivalents at end of period	$	96,085		$	51,853		$	76,709

See accompanying notes to consolidated financial statements.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Consolidated Statements of Cash Flows- (Continued)

	Years Ended December 31,
	2016			2015		2014
	(Dollars in thousands)
Supplemental cash flow information:
Cash paid during the period for:
Interest	$	22,037		$	19,738	$	15,002
Income taxes	14,415			10,800		16,696
Non-cash transactions:
Loans charged-off, net	810			1,875		390
Transfers of loans to other real estate owned	850			—		860
Other real estate owned write-downs	—			71		305
Acquisition:
Non-cash assets acquired, at fair value:
Securities available-for-sale	61,633			—		—
Loans	342,566			—		—
Accrued interest receivable	1,452			—		—
Bank owned life insurance	11,269			—		—
Premises and equipment	5,926			—		—
Federal Home Loan Bank of New York stock	476			—		—
Goodwill and other intangible assets	24,265
Other assets	5,389			—		—
Total non-cash assets acquired	452,976			—		—
Non-cash liabilities assumed, at fair value:
Deposits	456,203			—		—
Borrowings	2,213			—		—
Other liabilities	8,318			—		—
Total non-cash liabilities assumed	466,734			—		—
Net non-cash assets acquired	(13,758		)	—		—
Net cash and cash equivalents acquired	55,479			—		—
Common stock issued in acquisition	$	41,721		$	—	$	—

See accompanying notes to consolidated financial statements.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements

(1) Summary ofSignificantAccounting Policies

The following significant accounting and reporting policies of Northfield Bancorp, Inc. and subsidiaries (collectively, the “Company”), conform to U.S. generally accepted accounting principles (“U.S. GAAP”), and are used in preparing and presenting these consolidated financial statements.

(a)    Plan of Conversion and Reorganization

On June 6, 2012, the Board of Trustees of Northfield Bancorp, MHC (MHC) and the Board of Directors of the Company adopted a Plan of Conversion and Reorganization (the Plan).  Pursuant to the Plan, the MHC converted from the mutual holding company form of organization to the fully public form on January 24, 2013.  The MHC merged into the Company, and the MHC no longer exists.  The Company merged into a new Delaware corporation named Northfield Bancorp, Inc.  As part of the conversion, the MHC’s ownership interest of the Company was offered for sale in a public offering.  The existing publicly held shares of the Company, which represented the remaining ownership interest in the Company, were exchanged for new shares of common stock of Northfield Bancorp, Inc., the new Delaware corporation.  The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of the Company owned the same aggregate percentage of Northfield Bancorp., Inc. common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares).  When the conversion and public offering was completed, all of the capital stock of Northfield Bank was owned by Northfield Bancorp, Inc., the Delaware corporation.

The Plan provided for the establishment of special “liquidation accounts” for the benefit of certain depositors of Northfield Bank (the “Bank”) in an amount equal to the greater of the MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus or the retained earnings of Northfield Bank at the time it reorganized into the MHC.  Following the completion of the conversion, under the rules of the Board of Governors of the Federal Reserve System, Northfield Bank is not permitted to pay dividends on its capital stock to Northfield Bancorp, Inc., its sole shareholder, if Northfield Bank’s shareholder’s equity would be reduced below the amount of the liquidation accounts.  The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits.  Subsequent increases in qualifying deposits will not restore an eligible account holder’s interest in the liquidation accounts.

Direct costs of the conversion and public offering were deferred and reduced the proceeds from the shares sold in the public offering.  Costs of $11.5 million were incurred related to the conversion.

(b)    Basis of Presentation

The consolidated financial statements are comprised of the accounts of Northfield Bancorp, Inc. and its wholly owned subsidiaries, Northfield Investment, Inc. and the Bank, and the Bank’s wholly-owned significant subsidiaries, NSB Services Corp. and NSB Realty Trust.  All significant intercompany accounts and transactions have been eliminated in consolidation.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheets and revenues and expenses during the reporting periods.  Actual results may differ significantly from those estimates and assumptions.  A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses.  In connection with the determination of this allowance, management generally obtains independent appraisals for significant properties.  In addition, judgments related to the amount and timing of expected cash flows from PCI loans, goodwill, securities valuation and impairment, and deferred income taxes, involve a higher degree of complexity and subjectivity and require estimates and assumptions about highly uncertain matters.  Actual results may differ from the estimates and assumptions. 

Certain prior years' amounts have been reclassified to conform to the current year presentation.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

(c)    Business

The Company, through its principal subsidiary, the Bank, provides a full range of banking services primarily to individuals and corporate customers in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey.  The Company is subject to competition from other financial institutions and to the regulations of certain federal and state agencies, and undergoes periodic examinations by those regulatory authorities.

(d)    Cash Equivalents

Cash equivalents consist of cash on hand, due from banks, and interest-bearing deposits in other financial institutions with an original term of three months or less. 

(e)    Securities

Securities are classified at the time of purchase, based on management’s intention, as securities held-to-maturity, securities available-for-sale, or trading account securities.  Securities held-to-maturity are those that management has the positive intent and ability to hold until maturity.  Securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments.  Securities available-for-sale represents all securities not classified as either held-to-maturity or trading.  Securities available-for-sale are carried at estimated fair value with unrealized holding gains and losses (net of related tax effects) on such securities excluded from earnings, but included as a separate component of stockholders’ equity, titled “Accumulated other comprehensive income (loss).”  The cost of securities sold is determined using the specific-identification method.  Security transactions are recorded on a trade-date basis. Trading securities are securities that are bought and may be held for the purpose of selling them in the near term.  Trading securities are reported at estimated fair value, with unrealized holding gains and losses reported as a component of gain (loss) on securities transactions, net in non-interest income.

Our evaluation of other-than-temporary impairment considers our assessments of the reason for the decline in value, the duration and severity of the impairment, our intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and our intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis.  If a determination is made that a debt security is other-than-temporarily impaired, the Company will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors.  If we intend to hold securities in an unrealized loss position until the loss is recovered, which may be at maturity, the credit related component will be recognized as an other-than-temporary impairment charge in non-interest income.  The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax.  The estimated fair value of debt securities, including mortgage-backed securities and corporate debt obligations is furnished by an independent third-party pricing service.  The third-party pricing service primarily utilizes pricing models and methodologies that incorporate observable market inputs, including among other things, benchmark yields, reported trades, and projected prepayment and default rates.  Management reviews the data and assumptions used in pricing the securities by its third-party provider for reasonableness.   

(f)    Loans

The accounting and reporting for PCI loans and loans classified as held-for-sale differs substantially from those loans originated and classified by the Company as held-for-investment.  For purposes of reporting, discussion and analysis, management has classified its loan portfolio into four categories:  (1) loans originated by the Company and held-for-sale, which are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore have no associated allowance for loan losses, (2) PCI loans, which are held-for-investment, and initially valued at estimated fair value on the date of acquisition, with no initial related allowance for loan losses, (3) originated loans held-for-investment, which are carried at amortized cost, less net charge-offs and the allowance for loan losses, and (4) acquired loans with no evidence of credit deterioration, which are held-for-investment, and initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses.

Originated and acquired net loans held-for-investment are stated at unpaid principal balance, adjusted by unamortized premiums and unearned discounts, deferred origination fees and certain direct origination costs, and the allowance for loan losses.  Interest income on loans is accrued and credited to income as earned.  Net loan origination fees/costs are deferred and accreted/amortized to interest income over the loan’s contractual life using the level-yield method, adjusted for actual prepayments.  Generally, loans held-for-sale are designated at time of origination and generally consist of  newly originated fixed rate residential loans and are recorded at the lower of aggregate cost or estimated fair value in the aggregate.  Transfers of

76

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

loans from held-for-investment to held-for-sale are infrequent and occur at fair value less costs to sell, with any charge-off to allowance for loan losses. Gains are recognized on a settlement-date basis and are determined by the difference between the net sales proceeds and the carrying value of the loans, including any net deferred fees or costs.

Originated and acquired net loans held-for-investment are deemed impaired when it is probable, based on current information, that the Company will not collect all amounts due in accordance with the contractual terms of the loan agreement.  The Company has defined the population of originated and acquired impaired loans to be all originated and acquired non-accrual loans held-for-investment with an outstanding balance of $500,000 or greater and all loans restructured in troubled debt restructurings (TDRs).  Originated and acquired impaired loans held-for-investment are individually assessed to determine that the loan’s carrying value is not in excess of the expected future cash flows, discounted at the loan's original effective interest rate, or the fair value of the underlying collateral (less estimated costs to sell) if the loan is collateral dependent.  Impairments, if any, are recognized through a charge to the allowance for loan losses for the amount that the loan’s carrying value exceeds the discounted cash flow analysis or estimated fair value of collateral (less estimated costs to sell) if the loan is collateral dependent.  Such amounts are charged-off when considered appropriate.  

The allowance for loan losses is increased by the provision for loan losses charged against income and is decreased by charge-offs, net of recoveries.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, if it is determined that it is probable that recovery will come primarily from the sale or operation of such collateral.  Specific reserves on impaired loans that are not considered collateral dependent are charged-off when such amounts are not considered to be collectible.  The provision for loan losses is based on management’s evaluation of the adequacy of the allowance that considers, among other things, impaired loans held-for-investment, deterioration in PCI loans subsequent to acquisition, past loan loss experience, known and inherent risks in the portfolio, and existing adverse situations that may affect borrowers’ ability to repay.  Additionally, management evaluates changes, if any, in underwriting standards, collection, charge-off and recovery practices, the nature or volume of the portfolio, lending staff, concentration of loans, as well as current economic conditions, and other relevant factors.  Management believes the allowance for loan losses is adequate to provide for probable and reasonably estimable incurred losses at the date of the consolidated balance sheets.  The Company also maintains an allowance for estimated losses on off-balance sheet credit risks related to loan commitments and standby letters of credit.  Management utilizes a methodology similar to its allowance for loan loss adequacy methodology to estimate losses on these commitments.  The allowance for estimated credit losses on off-balance sheet commitments is included in other liabilities and any changes to the allowance are recorded as a component of other non-interest expense.

While management uses available information to estimate probable and reasonably estimable incurred losses on loans, future additions may be necessary based on changes in conditions, including changes in economic conditions, particularly in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey and to a lesser extent eastern Pennsylvania.  Accordingly, as with most financial institutions in the market area, the ultimate collectability of a substantial portion of the Company’s loan portfolio is susceptible to changes in conditions in the Company’s marketplace.  In addition, future changes in laws and regulations could make it more difficult for the Company to collect all contractual amounts due on its loans and mortgage-backed securities.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses.  Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

TDRs are loans where terms have been modified because of deterioration in the financial condition of the borrower.  Modifications could include extension of the repayment terms of the loan, reduced interest rates, or forgiveness of accrued interest and/or principal.  Once an obligation has been restructured because of such credit problems, it continues to be considered restructured until paid in full or, if the obligation yields a market rate (a rate equal to the rate the Company was willing to accept at the time of the restructuring for a new loan with comparable risk), until the year subsequent to the year in which the restructuring takes place, provided the borrower has performed under the modified terms for a six-month period.  The Company records an impairment charge equal to the difference between the present value of estimated future cash flows under the restructured terms discounted at the original loan’s effective interest rate, or the underlying collateral value less costs to sell, if the loan is collateral dependent.  Changes in present values attributable to the passage of time are recorded as a component of the provision for loan losses. 

A loan is considered past due when it is not paid in accordance with its contractual terms.  The accrual of income on loans, including impaired loans held-for-investment, and other loans in the process of foreclosure, is generally discontinued

77

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

when a loan becomes 90 days or more delinquent, or sooner when certain factors indicate that the ultimate collection of principal and interest is in doubt.  Loans on which the accrual of income has been discontinued are designated as non-accrual loans.  All previously accrued interest is reversed against interest income, and income is recognized subsequently only in the period that cash is received, provided no principal payments are due and the remaining principal balance outstanding is deemed collectible.  A non-accrual loan is not returned to accrual status until both principal and interest payments are brought current and factors indicating doubtful collection no longer exist, including performance by the borrower under the loan terms for a consecutive six-month period.

The Company accounts for the PCI loans based on expected cash flows. In accordance with current accounting guidance, the Company will maintain the integrity of a pool of multiple loans accounted for as a single asset and evaluate the pools for impairment, and accrual status, based on variances from the expected cash flows.

(g)    Federal Home Loan Bank Stock

The Bank, as a member of the Federal Home Loan Bank (FHLB) of New York, is required to hold shares of capital stock in the FHLB as a condition to both becoming a member and engaging in certain transactions with the FHLB.  The minimum investment requirement is determined by a “membership” investment component and an “activity-based” investment component.  The membership investment component is the greater of 0.20% of the Bank’s mortgage-related assets, as defined by the FHLB, or $1,000.  The activity-based investment component is equal to 4.5% of the Bank’s outstanding advances with the FHLB.  The activity-based investment component also considers other transactions, including assets originated for or sold to the FHLB, and delivery commitments issued by the FHLB.  The Company currently does not enter into these other types of transactions with the FHLB. 

On a quarterly basis, we perform our other-than-temporary impairment analysis of FHLB stock, we evaluate, among other things, (i) its earnings performance, including the significance of any decline in net assets of the FHLB as compared to the regulatory capital amount of the FHLB, (ii) the commitment by the FHLB to continue dividend payments, and (iii) the liquidity position of the FHLB.  We did not consider our investment in FHLB stock to be other-than-temporarily impaired at December 31, 2016 and 2015.

(h)    Premises and Equipment, Net

Premises and equipment, including leasehold improvements, are carried at cost, less accumulated depreciation and amortization.  Depreciation and amortization of premises and equipment, including capital leases, are computed on a straight-line basis over the estimated useful lives of the related assets.  The estimated useful lives of significant classes of assets are generally as follows: buildings - forty years; furniture and equipment - five to seven years; and purchased computer software - three years.  Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful lives of the improvements.  Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred.  Upon retirement or sale, any gain or loss is credited or charged to operations.

(i)    Bank Owned Life Insurance

The Company has purchased bank owned life insurance contracts to help fund its obligations for certain employee benefit costs.  The Company’s investment in such insurance contracts has been reported in the consolidated balance sheets at their cash surrender values.  Changes in cash surrender values and death benefit proceeds received in excess of the related cash surrender values are recorded as non-interest income.

(j)    Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets.  Goodwill is not amortized and is subject to an annual assessment for impairment. The goodwill impairment analysis is generally a two-step test. However, under current accounting guidance, first we may assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under current accounting guidance, we are not required to calculate the fair value of a reporting unit if, based on a qualitative assessment, we determine that it was more likely than not that the unit’s fair value was not less than its carrying amount. During 2016, we elected to perform step one of the two-step goodwill impairment test for our reporting unit, but we may choose to perform the optional quantitative assessment in future periods.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Goodwill is allocated to Northfield’s reporting unit at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings.

As of December 31, 2016, the carrying value of goodwill totaled $38.4 million.  The Company performed its annual goodwill impairment test, as of December 31, 2016, and determined that the fair value of the Company’s single reporting unit to be in excess of its carrying value.  The Company will test goodwill for impairment between annual test dates if an event occurs or circumstances change that would indicate the fair value of the reporting unit is below its carrying amount. No events have occurred and no circumstances have changed since the annual impairment test date that would indicate the fair value of the reporting unit is below its carrying amount.

(k)    Income Taxes

Income taxes are accounted for under the asset and liability method.  Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled.  When applicable, deferred tax assets are reduced by a valuation allowance for any portions determined not likely to be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Income tax benefits are recognized and measured based upon a two-step model: 1) a tax position must be more-likely-than-not to be sustained based solely on its technical merits in order to be recognized, and 2) the benefit is measured as the largest dollar amount of that position that is more-likely-than-not to be sustained upon settlement. The difference between the benefit recognized and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. The Company records income tax-related interest and penalties, if applicable, within income tax expense.

(l)    Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted (and without interest) net cash flows expected to be generated by the asset.  If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.

(m)    Securities Sold Under Agreements to Repurchase and Other Borrowings

The Company enters into sales of securities under agreements to repurchase (Repurchase Agreements) and collateral pledge agreements (Pledge Agreements) with selected dealers and banks.  Such agreements are accounted for as secured financing transactions since the Company maintains effective control over the transferred or pledged securities and the transfer meets the other accounting and recognition criteria as required by the transfer and servicing topic of the Financial Accounting Standards Board (FASB) Accounting Standards.  Obligations under these agreements are reflected as a liability in the consolidated balance sheets.  Securities underlying the agreements are maintained at selected dealers and banks as collateral for each transaction executed and may be sold or pledged by the counterparty.  Collateral underlying Repurchase Agreements that permit the counterparty to sell or pledge the underlying collateral is disclosed on the consolidated balance sheets as “encumbered.”  The Company retains the right under all Repurchase Agreements and Pledge Agreements to substitute acceptable collateral throughout the terms of the agreement.

(n)    Comprehensive Income (Loss)

Comprehensive income (loss) includes net income and the change in unrealized holding gains and losses on securities available-for-sale, change in actuarial gains and losses on other post retirement benefits, and change in service cost on other postretirement benefits, net of taxes.  Comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

(o)   Benefits

The Company sponsors a defined postretirement benefit plan that provides for medical and life insurance coverage to a limited number of retirees, as well as life insurance to all qualifying employees of the Company.  The estimated cost of postretirement benefits earned is accrued during an individual’s estimated service period to the Company. The Company recognizes in its balance sheet the over-funded or under-funded status of a defined benefit postretirement plan measured as the difference between the fair value of plan assets and the benefit obligation at the end of our calendar year.  The actuarial gains and losses and the prior service costs and credits that arise during the period are recognized as a component of other comprehensive income (loss), net of tax.    

Funds borrowed by the Employee Stock Ownership Plan (the “ESOP”) from the Company to purchase the Company’s common stock are being repaid from the Bank’s contributions over a period of up to 30 years.  The Company’s common stock not yet allocated to participants is recorded as a reduction of stockholders’ equity at cost.  The Company records compensation expense related to the ESOP at an amount equal to the shares committed to be released by the ESOP multiplied by the average fair value of our common stock during the reporting period.

The Company recognizes the grant-date fair value of stock based awards issued to participants' as compensation cost in the consolidated statements of comprehensive income (loss).  The fair value of common stock awards is based on the closing price of our common stock as reported on the NASDAQ Stock Market on the grant date.  The expense related to stock options is based on the estimated fair value of the options at the date of the grant using the Black-Scholes pricing model.  The awards are fixed in nature and compensation cost related to stock based awards is recognized on a straight-line basis over the requisite service periods.

The Bank has a 401(k) plan covering substantially all employees.  Contributions to the plan are expensed as incurred.

(p)    Segment Reporting

As a community-focused financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers.  Management makes operating decisions and assesses performance based on an ongoing review of these community banking operations, which constitute the Company’s only operating segment for financial reporting purposes. 

(q)    Net Income per Common Share

Net income per common share-basic is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding, excluding unallocated ESOP shares and unearned common stock award shares.  The weighted average common shares outstanding includes the average number of shares of common stock outstanding, including shares allocated or committed to be released ESOP shares.

Net income per common share-diluted is computed using the same method as basic earnings per share, but reflects the potential dilution that could occur if stock options and unvested shares of restricted stock were exercised and converted into common stock.  These potentially dilutive shares are included in the weighted average number of shares outstanding for the period using the treasury stock method.  When applying the treasury stock method, we add: (1) the assumed proceeds from option exercises; (2) the tax benefit, if any, that would be credited to additional paid-in capital assuming exercise of non-qualified stock options and vesting of shares of restricted stock; and (3) the average unamortized compensation costs related to unvested shares of restricted stock and stock options.  We then divide this sum by our average stock price for the period to calculate assumed shares repurchased.  The excess of the number of shares issuable over the number of shares assumed to be repurchased is added to basic weighted average common shares to calculate diluted earnings per share.  At December 31, 2016, 2015, and 2014, there were 1,343,498, 1,192,769, and 1,026,130 dilutive shares outstanding, respectively.    

(r)    Other Real Estate Owned

Assets acquired through loan foreclosure, or deed-in-lieu of, are held for sale and are initially recorded at estimated fair value less estimated selling costs when acquired, thus establishing a new cost basis.  Costs after acquisition are generally expensed.  If the estimated fair value of the asset subsequently declines, a write-down is recorded through other non-interest expense.

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Notes to Consolidated Financial Statements - (Continued)

(s)    Recent Accounting Developments

In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. Prior to this pronouncement there was no guidance on how to present restricted cash and cash equivalents in the Statement of Cash Flows. ASU No. 2016-18 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In August 2016, the FASB issued Accounting Standards Update (ASU) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which provides guidance on the classification of certain cash receipts and payments within the statement of cash flows. ASU No. 2016-15 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. Since the ASU only impacts classification on the statements of cash flows, adoption will not affect the Company's consolidated financial position, results of operations or its cash and cash equivalents.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. Current US GAAP is based on an incurred loss model that delays recognition of credit losses until it is probable the loss has been incurred. Accordingly, it is anticipated that credit losses will be recognized earlier under the CECL model than under the incurred loss model. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements, but the extent of the effect is indeterminable at this time as it will be dependent upon the nature and characteristics of the Company's loan portfolio at the adoption date, as well as economic conditions and forecasts at that date.

In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which includes provisions to simplify certain aspects related to the accounting for share-based awards and the related financial statement presentation. The ASU includes a requirement that the tax effect related to the settlement of share-based awards be recorded in income tax benefit or expense in the statements of earnings. This change is required to be adopted prospectively in the period of adoption. In addition, the ASU modifies the classification of certain share-based payment activities within the statements of cash flows and these changes are required to be applied retrospectively to all periods presented, or in certain cases prospectively, beginning in the period of adoption. ASU No. 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and the Company will adopt it in the first quarter of 2017. The impact of ASU No. 2016-09 on the Company's results of operations in future periods is dependent upon, among other things, the level of earnings and stock price of the Company, but assuming we continue to be in an excess tax benefit position, adoption will result in a reduction to tax expense due to the recognition of excess tax benefits as an income tax benefit rather than in additional paid-in capital.

     In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), which is intended to increase transparency and comparability of accounting for lease transactions. The ASU will require all leases to be recognized on the balance sheet as lease assets and lease liabilities and will require both quantitative and qualitative disclosures regarding key information about leasing arrangements. Lessor accounting is largely unchanged. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements.

In January 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. ASU

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Notes to Consolidated Financial Statements - (Continued)

No. 2016-01 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments, which requires that adjustments to provisional amounts that are identified during the measurement period of a business combination be recognized in the reporting period in which the adjustment amounts are determined. Furthermore, the income statement effects of such adjustments, if any, must be calculated as if the accounting had been completed at the acquisition date. Under previous guidance, adjustments to provisional amounts identified during the measurement period were to be recognized retrospectively. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will be effective for interim and annual periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance in U.S. GAAP. The Company does not expect the guidance to have a material effect on its consolidated financial statements as the ASU is not applicable to financial instruments and, therefore, will not affect the majority of the Company's revenues.

In January 2014, the FASB issued ASU No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which clarifies that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (i) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the ASU requires interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 was effective for annual and interim periods beginning after December 15, 2014 and the adoption of this pronouncement did not have a material effect on the Company’s consolidated financial statements.

(2) Business Combination

On January 8, 2016, the Company completed its acquisition of Hopewell Valley Community Bank (“Hopewell Valley”), which, after purchase accounting adjustments, added $508.5 million to total assets, $342.6 million to loans, and $456.2 million to deposits, and nine branch offices in the Hunterdon and Mercer counties of New Jersey. Total consideration paid for Hopewell Valley was $55.4 million, consisting of $13.7 million in cash and 2,707,381 shares of common stock valued at $41.7 million based upon the $15.41 per share closing price of Northfield Bancorp, Inc.'s common stock on January 8, 2016.

The transaction was accounted for under the acquisition method of accounting. Under this method of accounting, the purchase price has been allocated to the respective assets acquired and liabilities assumed based upon their estimated fair values, net of tax. The excess of consideration paid over the fair value of the net assets acquired has been recorded as goodwill.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition for Hopewell Valley (in thousands):

ASSETS ACQUIRED:	January 8, 2016
Cash and cash equivalents, net	$	55,479
Securities available for sale	61,633
Loans	342,566
Accrued interest receivable	1,452
Bank-owned life insurance	11,269
Premises and equipment	5,926
Federal Home Loan Bank of New York stock, at cost	476
Goodwill	22,252
Other intangible assets	2,013
Other assets	5,389
Total assets acquired	$	508,455
LIABILITIES ASSUMED:
Deposits	$	456,203
Other borrowings	2,213
Other liabilities	8,318
Total liabilities assumed	$	466,734
Net assets acquired	$	41,721

Fair Value Measurement of Assets Assumed and Liabilities Assumed

The methods used to determine the fair value of the assets acquired and liabilities assumed in the Hopewell Valley acquisition were as follows:

Cash and cash equivalents

The estimated fair values of cash and cash equivalents approximate their stated face amounts, as these financial instruments are either due on demand or have short-term maturities.

Securities Available-for-Sale

The estimated fair values of the investment securities classified as available-for-sale were calculated utilizing Level 1 and Level 2 inputs. Management reviewed the data and assumptions used by its third party provider in pricing the securities to ensure the highest level of significant inputs is derived from observable market data. These prices were validated against other pricing sources and broker-dealer indications.

Loans

The acquired loan portfolio was valued based on current guidance which defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Level 3 inputs were utilized to value the portfolio and included the use of present value techniques employing cash flow estimates and the incorporated assumptions that marketplace participants would use in estimating fair values. In instances where reliable market information was not available, the Company used its own assumptions in an effort to determine reasonable fair value. Specifically, management utilized three separate fair value analyses which a market participant would employ in estimating the total fair value adjustment. The three separate fair valuation methodologies used were: 1) interest rate loan fair value analysis; 2) general credit fair value adjustment; and 3) specific credit fair value adjustment.

To prepare the interest rate fair value analysis, loans were grouped by characteristics such as loan type, term, collateral and rate. Market rates for similar loans were obtained from various external data sources and reviewed by Company management for reasonableness. The average of these rates was used as the fair value interest rate a market participant would utilize. A present value approach was utilized to calculate the interest rate fair value adjustment.

The general credit fair value adjustment was calculated using a two part general credit fair value analysis: 1) expected lifetime losses; and 2) estimated fair value adjustment for qualitative factors. The expected lifetime losses were calculated

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Notes to Consolidated Financial Statements - (Continued)

using an average of historical losses of the Company, the acquired bank and peer banks. The adjustment related to qualitative factors was impacted by general economic conditions and the risk related to lack of familiarity with the originator's underwriting process.

To calculate the specific credit fair value adjustment, management reviewed the acquired loan portfolio for loans meeting the definition of an impaired loan with deteriorated credit quality. Loans meeting this definition were reviewed by comparing the contractual cash flows to expected collectible cash flows. The aggregate expected cash flows less the acquisition date fair value resulted in an accretable yield amount. The accretable yield amount will be recognized over the life of the loans on a level yield basis as an adjustment to yield.

Other intangible assets

Other intangible assets consisting of core deposit premium represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of an acquisition. The core deposit premium value represents the future economic benefit, including the present value of future tax benefits, of the potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources. The core deposit premium is being amortized over an estimated useful life of 10 years to approximate the existing deposit relationships acquired.

Deposits

The fair values of deposit liabilities with no stated maturity (i.e., non-interest bearing demand accounts, interest-bearing negotiable orders of withdrawal (NOW), savings and money market accounts) are equal to the carrying amounts payable on demand. The fair values of certificates of deposit represent contractual cash flows, discounted to present value using interest rates currently offered on deposits with similar characteristics and remaining maturities.

Other borrowings

Other borrowings consist of securities sold under agreements to repurchase. The carrying amounts approximate their fair values because they frequently re-price to a market rate.

(3) Securities Available-for-Sale

The following is a comparative summary of mortgage-backed securities, debt securities and other securities available-for-sale at December 31, 2016 and 2015 (in thousands):  

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	2016
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
Government sponsored enterprises (GSE)	$	225,047	$	2,800	$	3,298	$	224,549
Real estate mortgage investment conduits (REMICs):
GSE	230,500		259		6,466		224,293
Non-GSE	280		—		10		270
	455,827		3,059		9,774		449,112
Debt securities:
Municipal bonds	2,151		13		6		2,158
Corporate bonds	45,373		150		364		45,159
	47,524		163		370		47,317
Other securities
Equity investments - mutual funds	1,233		—		15		1,218
Other	1,250		—		—		1,250
	2,483		—		15		2,468
Total securities available-for-sale	$	505,834	$	3,222	$	10,159	$	498,897

	2015
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	228,557	$	4,673	$	1,530	$	231,700
REMICs:
GSE	305,387		647		8,210		297,824
Non-GSE	597		—		18		579
	534,541		5,320		9,758		530,103
Debt securities:
Corporate bonds	11,002		9		—		11,011
Other securities:
Equity investments-mutual funds	481		—		—		481
Total securities available-for-sale	$	546,024	$	5,329	$	9,758	$	541,595

The following is a summary of the expected maturity distribution of debt securities available-for-sale other than mortgage-backed securities at December 31, 2016 (in thousands): 

Available-for-sale	Amortized cost		Estimated fair value
Due in one year or less	$	1,735	$	1,730
Due after one year through five years	40,695		40,425
Due after five years through ten years	5,094		5,162
	$	47,524	$	47,317

Expected maturities on mortgage-backed securities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Certain securities available-for-sale are pledged or encumbered to secure borrowings under Pledge Agreements and Repurchase Agreements and for other purposes required by law.  At December 31, 2016, and December 31, 2015, securities available-for-sale with a carrying value of $108.8 million and $101.0 million, respectively, were pledged to secure repurchase agreements and deposits. See Note 8 for further discussion regarding securities pledged or encumbered for borrowings.

For the year ended December 31, 2016, the Company had gross proceeds of $44.6 million on sales of securities available-for-sale with gross realized gains of approximately $493,000 and gross realized losses of approximately $187,000.  For the year ended December 31, 2015, the Company had gross proceeds of $51.1 million on sales of securities available-for-sale with gross realized gains and gross realized losses of approximately $60,000 and $3,000 gross realized losses. For the year ended December 31, 2014, the Company had gross proceeds of $12.0 million on sales of securities available-for-sale with gross realized gains of approximately $382,000 and no gross realized losses. The Company recognized net gains of $507,000 on its trading securities portfolio during the year ended December 31, 2016, and net losses of $396,000 and $155,000, for the years ended December 31, 2015 and 2014, respectively. The Company routinely sells securities when market pricing presents, in management’s assessment, an economic benefit that outweighs holding such security, and when smaller balance securities become cost prohibitive to carry.

The Company did not recognize any other-than-temporary impairment charges in earnings during the years ended December 31, 2016, 2015 and 2014.

Gross unrealized losses on mortgage-backed securities, debt securities and other securities available-for-sale, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands): 

	December 31, 2016
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	2,703	$	121,878	$	595	$	8,402	$	3,298	$	130,280
REMICs:
GSE	1,622		75,586		4,844		97,726		6,466		173,312
Non-GSE	—		—		10		270		10		270
Debt securities:
Municipal bonds	6		1,679		—		—		6		1,679
Corporate bonds	364		26,022		—		—		364		26,022
Other securities	15		947		—		—		15		947
Total	$	4,710	$	226,112	$	5,449	$	106,398	$	10,159	$	332,510

	December 31, 2015
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	115	$	14,424	$	1,415	$	52,120	$	1,530	$	66,544
REMICs:
GSE	338		31,937		7,872		164,666		8,210		196,603
Non-GSE					18		579		18		579
Total	$	453	$	46,361	$	9,305	$	217,365	$	9,758	$	263,726

The Company held 19 pass-through mortgage-backed securities issued or guaranteed by GSEs, nine REMIC mortgage-backed securities issued or guaranteed by GSEs, and two REMIC mortgage-backed securities not issued or guaranteed by GSEs that were in a continuous unrealized loss position of greater than twelve months at December 31, 2016.

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Notes to Consolidated Financial Statements - (Continued)

There were 22 pass-through mortgage-backed securities issued or guaranteed by GSEs, 10 REMIC mortgage-backed securities issued or guaranteed by GSEs, five corporate bonds, and two municipal bonds that were in an unrealized loss position of less than twelve months. All securities referred to above were rated investment grade at December 31, 2016.  The declines in value relate to the general interest rate environment and are considered temporary.  The securities cannot be prepaid in a manner that would result in the Company not receiving all of its amortized cost.  The Company neither has an intent to sell, nor is it more likely than not that the Company will be required to sell, the securities before the recovery of their amortized cost basis or, if necessary, maturity.

The fair values of our investment securities could decline in the future if the underlying performance of the collateral for the collateralized mortgage obligations or other securities deteriorates and our credit enhancement levels do not provide sufficient protections to our contractual principal and interest.  As a result, there is a risk that significant other-than-temporary impairments may occur in the future given the current economic environment.

(4) Securities Held-to-Maturity

The following is a summary of mortgage-backed securities held-to-maturity at December 31, 2016 and 2015 (in thousands): 

	2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,148	$	29	$	59	$	10,118
Total securities held-to-maturity	$	10,148	$	29	$	59	$	10,118

	2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,346	$	53	$	30	$	10,369
Total securities held-to-maturity	$	10,346	$	53	$	30	$	10,369

Contractual maturities for mortgage-backed securities are not presented, as expected maturities on mortgage-backed securities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. There were no sales of held-to-maturity securities for the years ended December 31, 2016, 2015 or 2014. The Company did not recognize any other-than-temporary impairment charges in earnings on securities held-to-maturity during the years ended December 31, 2016, 2015 and 2014. At December 31, 2016, and December 31, 2015, securities held-to-maturity with a carrying value of $5.0 million and $5.6 million, respectively, were pledged to secure repurchase agreements and deposits.

Gross unrealized losses on mortgage-backed securities held-to-maturity, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands):

	December 31, 2016
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	59	$	7,466
Total securities held-to-maturity	$	59	$	7,466

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Notes to Consolidated Financial Statements - (Continued)

	December 31, 2015
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	30	$	3,901
Total securities held-to-maturity	$	30	$	3,901

The Company held four pass-through mortgage-backed securities held-to-maturity, issued or guaranteed by GSEs, that were in a continuous unrealized loss position of less than twelve months. Management evaluated these securities and concluded that the declines in value relate to the general interest rate environment and are considered temporary.  The securities cannot be prepaid in a manner that would result in the Company not receiving all of its amortized cost.  The Company neither has an intent to sell, nor is it more likely than not that the Company will be required to sell, the securities before the recovery of their amortized cost basis or, if necessary, maturity.

The fair values of our investment securities could decline in the future if the underlying performance of the collateral for the collateralized mortgage obligations or other securities deteriorates and our credit enhancement levels do not provide sufficient protections to our contractual principal and interest.  As a result, there is a risk that significant other-than-temporary impairments may occur in the future given the current economic environment.

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Notes to Consolidated Financial Statements - (Continued)

(5) Loans

Loans held-for-investment, net, consists of the following (in thousands): 

	December 31,
	2016			2015
Real estate loans:
Multifamily	$	1,506,335		$	1,318,461
Commercial mortgage	412,667			402,073
One-to-four family residential mortgage	105,968			98,332
Home equity and lines of credit	65,437			61,413
Construction and land	14,065			18,652
Total real estate loans	2,104,472			1,898,931
Commercial and industrial loans	31,906			25,554
Other loans	1,497			2,256
Total commercial and industrial and other loans	33,403			27,810
Deferred loan cost, net	6,471			4,844
Originated loans held-for-investment, net	2,144,346			1,931,585
PCI Loans	30,498			33,115
Loans acquired:
One-to-four family residential mortgage	317,639			330,672
Multifamily	215,389			64,779
Commercial mortgage	188,001			11,160
Home equity and lines of credit	25,522			2,404
Construction and land	20,887			—
Total acquired real estate loans	767,438			409,015
Commercial and industrial loans	25,443			—
Other loans	359			—
Total loans acquired	793,240			409,015
Loans held for investment, net	2,968,084			2,373,715
Allowance for loan losses	(24,595		)	(24,770		)
Net loans held-for-investment	$	2,943,489		$	2,348,945

The Company had no loans held-for-sale at December 31, 2016, or December 31, 2015. 

PCI loans totaled $30.5 million at December 31, 2016, as compared to $33.1 million at December 31, 2015, and included $4.8 million of loans acquired as part of the Hopewell Valley acquisition at December 31, 2016. The remaining balance of PCI loans is primarily attributable to those acquired as part of an FDIC-assisted transaction. The Company accounts for PCI loans utilizing U.S. GAAP applicable to loans acquired with deteriorated credit quality.  At December 31, 2016, PCI loans consisted of approximately 30% commercial real estate loans and 48% commercial and industrial loans, with the remaining balance in residential and home equity loans.  At December 31, 2015, PCI loans consisted of approximately 28% commercial real estate loans and 52% commercial and industrial loans, with the remaining balance in residential and home equity loans.

The following table sets forth information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired from Hopewell Valley at January 8, 2016 (in thousands):

	January 8, 2016
Contractually required principal and interest at acquisition	$	16,580
Contractual cash flows not expected to be collected (non-accretable discount)	(9,929		)
Expected cash flows to be collected at acquisition	6,651
Interest component of expected cash flows (accretable discount)	(845		)
Fair value of acquired loans	$	5,806

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following details the accretable yield (in thousands):   

	For The Year Ended December 31,
	2016			2015
Balance at the beginning of year	$	22,853		$	27,943
Acquisition	845			—
Accretion into interest income	(5,225		)	(4,525		)
Net reclassification from/(to) non-accretable difference(1)	5,742			(565		)
Balance at end of year	$	24,215		$	22,853

_______________________

1) Due to re-casting of cash flows for loan pools acquired in the 2011 FDIC-assisted transaction. Reclassifications of the non-accretable difference to the accretable yield may occur subsequent to the loan acquisition dates due to increases in expected cash flows of the loans.

The Company does not have any lending programs commonly referred to as subprime lending.  Subprime lending generally targets borrowers with weakened credit histories typically characterized by payment delinquencies, previous charge-offs, judgments, bankruptcies, or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios.

We provide for loan losses based on the consistent application of our documented allowance for loan loss methodology.  Loan losses are charged to the allowance for loans losses and recoveries are credited to it.  Additions to the allowance for loan losses are provided by charges against income based on various factors which, in our judgment, deserve current recognition in estimating incurred losses.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, for collateral dependent loans.  We regularly review the loan portfolio in order to maintain the allowance for loan losses in accordance with U.S. GAAP.   At December 31, 2016 and 2015, the allowance for loan losses related to loans held-for-investment (excluding PCI loans) consisted primarily of the following two components:

(1) Specific allowances are established for impaired loans (generally defined by the Company as non-accrual loans with an outstanding balance of $500,000 or greater and all loans restructured in troubled debt restructurings). The amount of impairment, if any, provided for as a specific reserve determined by the deficiency, if any, between the present value of expected future cash flows discounted at the original loan’s effective interest rate or the underlying collateral value (less estimated costs to sell and discounts for quick sales,) if the loan is collateral dependent, and the carrying value of the loan. Impaired loans that have no impairment losses are not considered for general allowances described below. Generally, the Company charges down a loan to the estimated fair value of the underlying collateral, less costs to sell for collateral dependent loans and, if necessary, maintains a specific reserve in the allowance for loan losses related to cash flow dependent impaired loans where the present value of the expected future cash flows, discounted at the loan’s original contractual interest rate, is less than the carrying value of the loan unless management determines that such shortfall should be charged off.

(2) General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. The portfolio is grouped into similar risk characteristics, primarily loan type, loan-to-value, if collateral dependent, and internal credit risk ratings. We apply an estimated loss rate to each loan group. The loss rates applied are based on our net loss experience (using appropriate look-back and loss emergence periods) as adjusted, if appropriate, for our qualitative assessment of factors which may not be fully captured in our historical quantitative net loss rates related to:

• changes in lending policies and procedures;

• changes in local, regional, national, and international economic and business conditions and developments that affect the collectability of our portfolio, including the condition of various market segments;

• changes in the nature and volume of our portfolio and in the terms of our loans;

• changes in the experience, ability and depth of lending management and other relevant staff;

• changes in the volume and severity of past due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans;

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

• changes in the quality of our loan review system;

• changes in the value of underlying collateral for collateral-dependent loans;

• the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and

• the effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our existing portfolio.

The loss emergence period is the estimated time from the date of the loss event to the actual recognition of the loss (typically the first charge-off), and is determined based upon a study of the Company's past loss experience by loan groups. This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based upon changes in economic and real estate market conditions. Actual loan losses may be significantly more than the allowance for loan losses we have established, which could have a material negative effect on our financial results. Prior to December 31, 2016, we maintained an amount identified as the unallocated component within the allowance for loan losses related to indicators of loan losses not fully captured in other components of the allowance for loan losses methodology, as well as the inherent imprecision of the loss estimation process.  During the fourth quarter of 2016, the Company enhanced the allowance for loan losses qualitative framework to more fully capture the risks related to certain loan loss factors. These enhancements are meant to increase the level of precision in the allowance for loan losses.  As a result, the Company will no longer have an unallocated reserve in its allowance for loan losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective loan portfolios.

Held-for-investment loans acquired with no evidence of credit deterioration are initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses. These loans are evaluated for impairment on a quarterly basis as part of our analysis of the allowance for loan losses. 

In underwriting a loan secured by real property, we require an appraisal (or an automated valuation model) of the property by an independent licensed appraiser approved by the Company’s board of directors.  The appraisal is subject to review by an independent third-party hired by the Company.  We review and inspect properties before disbursement of funds during the term of a construction loan.  Generally, management obtains updated appraisals when a loan is deemed impaired, or sooner if management deems it appropriate.  These appraisals may be more limited than those prepared for the underwriting of a new loan.  In addition, when the Company acquires other real estate owned, it generally obtains a current appraisal to substantiate the net carrying value of the asset.  

We evaluate the allowance for loan losses based on the combined total of the impaired and general components for loans.  Generally when the loan portfolio increases, absent other factors, our allowance for loan loss methodology results in a higher dollar amount of estimated incurred losses.  Conversely, when the loan portfolio decreases, absent other factors, our allowance for loan loss methodology results in a lower dollar amount of estimated incurred losses. 

Each quarter we evaluate the allowance for loan losses and adjust the allowance as appropriate through a provision for loan losses.  While we use the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the information used in making the evaluations.  In addition, as an integral part of their examination process, the Office of the Comptroller of the Currency (OCC) will periodically review the allowance for loan losses.  The OCC may require us to adjust the allowance based on their analysis of information available to them at the time of their examination.   

A summary of changes in the allowance for loan losses for the years ended December 31, 2016, 2015, and 2014 follows (in thousands): 

	December 31,
	2016			2015			2014
Balance at beginning of year	$	24,770		$	26,292		$	26,037
Provision for loan losses	635			353			645
Recoveries	194			140			402
Charge-offs	(1,004		)	(2,015		)	(792		)
Balance at end of year	$	24,595		$	24,770		$	26,292

91

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table sets forth activity in our allowance for loan losses, by loan type, for the years ended December 31, 2016 and 2015.  The following table also details the amount of loans receivable held-for-investment, net of deferred loan fees and costs, that are evaluated individually, and collectively, for impairment, and the related portion of allowance for loan losses that is allocated to each loan portfolio segment (in thousands):

	December 31, 2016
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans			Total
Allowance for loan losses:
Beginning Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115		$	24,770
Charge-offs	(638		)	(20		)	—			(278		)	—			(66		)	(2		)	—			(1,004		)	—		—			(1,004		)
Recoveries	181			2			—			—			2			4			5			—			194			—		—			194
Provisions (credit)	(1,217		)	(105		)	(89		)	2,843			(209		)	494			(62		)	(1,093		)	562			113		(40		)	635
Ending Balance	$	5,432		$	664		$	172		$	14,952		$	588		$	1,720		$	96		$	—		$	23,624		$	896	$	75		$	24,595
Ending balance: individually evaluated for impairment	$	64		$	66		$	—		$	95		$	23		$	5		$	—		$	—		$	253		$	—	$	75		$	328
Ending balance: collectively evaluated for impairment	$	5,368		$	598		$	172		$	14,857		$	565		$	1,715		$	96		$	—		$	23,371		$	896	$	—		$	24,267
Loans, net:
Ending Balance	$	413,352		$	106,524		$	14,092		$	1,510,100		$	66,767		$	32,013		$	1,498		$	—		$	2,144,346		$	30,498	$	793,240		$	2,968,084
Ending balance: individually evaluated for impairment	$	20,710		$	2,180		$	—		$	1,372		$	336		$	101		$	—		$	—		$	24,699		$	—	$	1,591		$	26,290
Ending balance: collectively evaluated for impairment	$	392,642		$	104,344		$	14,092		$	1,508,728		$	66,431		$	31,912		$	1,498		$	—		$	2,119,647		$	30,498	$	791,649		$	2,941,794

	December 31, 2015
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans		Total
Allowance for loan losses:
Beginning Balance	$	9,309		$	951		$	266		$	12,219		$	901		$	841		$	134		$	1,209		$	25,830		$	400	$	62	$	26,292
Charge-offs	(1,431		)	(277		)	—			(120		)	(115		)	(71		)	(1		)	—			(2,015		)	—		—		(2,015		)
Recoveries	2			20			—			25			42			34			17			—			140			—		—		140
Provisions (credit)	(774		)	93			(5		)	263			(33		)	484			5			(116		)	(83		)	383		53		353
Ending Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115	$	24,770
Ending balance: individually evaluated for impairment	$	394		$	167		$	—		$	158		$	51		$	4		$	—		$	—		$	774		$	—	$	115	$	889
Ending balance: collectively evaluated for impairment	$	6,712		$	620		$	261		$	12,229		$	744		$	1,284		$	155		$	1,093		$	23,098		$	783	$	—	$	23,881
Loans, net:
Ending Balance	$	402,714		$	99,010		$	18,677		$	1,320,724		$	62,594		$	25,610		$	2,256		$	—		$	1,931,585		$	33,115	$	409,015	$	2,373,715
Ending balance: individually evaluated for impairment	$	20,465		$	2,344		$	—		$	2,458		$	354		$	116		$	—		$	—		$	25,737		$	—	$	3,250	$	28,987
Ending balance: collectively evaluated for impairment	$	382,249		$	96,666		$	18,677		$	1,318,266		$	62,240		$	25,494		$	2,256		$	—		$	1,905,848		$	33,115	$	405,765	$	2,344,728

92

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The Company monitors the credit quality of its loan portfolio on a regular basis.  Credit quality is monitored by reviewing certain credit quality indicators.  Management has determined that loan-to-value ratios (at period end) and internally assigned credit risk ratings by loan type are the key credit quality indicators that best measure the credit quality of the Company’s loan receivables.  Loan-to-value (“LTV”) ratios used by management in monitoring credit quality are based on current period loan balances and original appraised values at time of origination (unless a current appraisal has been obtained as a result of the loan being deemed impaired).  In calculating the provision for loan losses, based on past loan loss experience, management has determined that commercial real estate loans and multifamily loans having loan-to-value ratios, as described above, of less than 35%, and one-to-four family loans having loan-to-value ratios, as described above, of less than 60%, require less of a loss factor than those with higher loan to value ratios.

The Company maintains a credit risk rating system as part of the risk assessment of its loan portfolio. The Company’s lending officers are required to assign a credit risk rating to each loan in their portfolio at origination. This risk rating is reviewed periodically and adjusted if necessary. Monthly, management presents monitored assets to the loan committee. In addition, the Company engages a third-party independent loan reviewer that performs semi-annual reviews of a sample of loans, validating the credit risk ratings assigned to such loans. The credit risk ratings play an important role in the establishment of the loan loss provision and the allowance for loan losses for originated loans held-for-investment. After determining the general reserve loss factor for each originated portfolio segment held-for-investment, the originated portfolio segment held-for-investment balance collectively evaluated for impairment is multiplied by the general reserve loss factor for the respective portfolio segment in order to determine the general reserve.

When assigning a risk rating to a loan, management utilizes the Bank’s internal nine-point credit risk rating system. 

1. Strong

2. Good

3. Acceptable

4. Adequate

5. Watch

6. Special Mention

7. Substandard

8. Doubtful

9. Loss

Loans rated 1 to 5 are considered pass ratings.  An asset is classified substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any.  Substandard assets have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.  Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable based on current circumstances.  Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted.  Assets which do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses, are required to be designated special mention.

93

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table details the recorded investment of originated loans receivable held-for-investment, net of deferred fees and costs, by loan type and credit quality indicator at December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	122,525	$	1,381,231	$	65,612	$	323,842	$	59,214	$	43,316	$	14,092	$	66,489	$	31,173	$	1,498	$	2,108,992
Special Mention	25		4,636		—		3,852		705		—		—		29		696		—		9,943
Substandard	40		1,643		1,179		18,867		1,807		1,482		—		249		144		—		25,411
Originated loans held-for-investment, net	$	122,590	$	1,387,510	$	66,791	$	346,561	$	61,726	$	44,798	$	14,092	$	66,767	$	32,013	$	1,498	$	2,144,346
	At December 31, 2015
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	124,678	$	1,188,916	$	52,253	$	319,733	$	48,429	$	46,578	$	18,677	$	61,935	$	24,846	$	2,256	$	1,888,301
Special Mention	51		3,832		974		2,966		504		—		—		75		316		—		8,718
Substandard	775		2,472		1,233		25,555		2,112		1,387		—		584		448		—		34,566
Originated loans held-for-investment, net	$	125,504	$	1,195,220	$	54,460	$	348,254	$	51,045	$	47,965	$	18,677	$	62,594	$	25,610	$	2,256	$	1,931,585

94

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers.  The recorded investment of these nonaccrual loans was $7.3 million and $8.8 million at December 31, 2016, and December 31, 2015, respectively.  Generally, originated loans are placed on non-accruing status when they become 90 days or more delinquent, or sooner if considered appropriate by management, and remain on non-accrual status until they are brought current, have six consecutive months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist.  Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent and still be on a non-accruing status. 

Non-accrual amounts include loans deemed to be impaired of $5.7 million and $6.7 million at December 31, 2016, and December 31, 2015, respectively.  Loans on non-accrual status with principal balances less than $500,000, and therefore not meeting the Company’s definition of an impaired loan, amounted to $1.7 million at December 31, 2016, and $2.1 million at December 31, 2015.  There was no loans held-for-sale at December 31, 2016, and December 31, 2015.  Loans past due ninety days or more and still accruing interest were $60,000 and $15,000 at December 31, 2016, and December 31, 2015, respectively, and consisted of loans that are well secured and in the process of collection. 

95

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table sets forth the detail, and delinquency status, of originated and acquired non-performing loans (non-accrual loans and loans past due ninety days or more and still accruing), net of deferred fees and costs, at December 31, 2016 and 2015 (in thousands), excluding PCI loans which have been segregated into pools.  For PCI loans, each loan pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows.

	At December 31, 2016
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	341	$	—	$	4,882	$	5,223	$	—	$	5,223
Total commercial	341		—		4,882		5,223		—		5,223
One-to-four family residential
LTV < 60%
Substandard	384		383		442		1,209		9		1,218
LTV => 60%
Substandard	—		—		—		—		43		43
Total one-to-four family residential	384		383		442		1,209		52		1,261
Multifamily
LTV => 35%
Substandard	—		—		3		3		—		3
LTV < 35%
Substandard	40		—		—		40		—		40
Total multifamily	40		—		3		43		—		43
Home equity and lines of credit
Substandard	—		96		—		96		—		96
Total home equity and lines of credit	—		96		—		96		—		96
Total non-performing loans held-for-investment	765		479		5,327		6,571		52		6,623
Loans acquired:
Real Estate Loans:
Commercial
LTV < 35%
Substandard	—		—		231		231		—		231
LTV >= 35%
Substandard	—		—		59		59		—		59
Total Commercial	—		—		290		290		—		290
One-to-four family residential
LTV < 60%
Substandard	420		—		—		420		—		420
Total one-to-four family residential	420		—		—		420		—		420
Home equity and lines of credit	—		—		31		31		8		39
Commercial and industrial	—		—		9		9		—		9
Total non-performing loans acquired	420		—		330		750		8		758
Total non-performing loans	$	1,185	$	479	$	5,657	$	7,321	$	60	$	7,381

96

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	At December 31, 2015
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	344	$	372	$	4,516	$	5,232	$	—	$	5,232
Total commercial	344		372		4,516		5,232		—		5,232
One-to-four family residential
LTV < 60%
Substandard	364		180		565		1,109		—		1,109
Total	364		180		565		1,109		—		1,109
LTV => 60%
Substandard	901		135		—		1,036		—		1,036
Total	901		135		—		1,036		—		1,036
Total one-to-four family residential	1,265		315		565		2,145		—		2,145
Construction and land
Pass	—		—		113		113		—		113
Total construction and land	—		—		113		113		—		113
Multifamily
LTV => 35%
Substandard	—		—		559		559		—		559
Total multifamily	—		—		559		559		—		559
Home equity and lines of credit
Substandard	—		—		329		329		—		329
Total home equity and lines of credit	—		—		329		329		—		329
Commercial and industrial loans
Pass	—		—		—		—		15		15
Total commercial and industrial loans	—		—		—		—		15		15
Total non-performing loans held-for-investment	1,609		687		6,082		8,378		15		8,393
Loans acquired:
One-to-four family residential
LTV < 60%
Substandard	429		—		—		429		—		429
Total one-to-four family residential	429		—		—		429		—		429
Total non-performing loans acquired	429		—		—		429		—		429
Total non-performing loans	$	2,038	$	687	$	6,082	$	8,807	$	15	$	8,822

97

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table sets forth the detail and delinquency status of originated and acquired loans, net of deferred fees and costs, by performing and non-performing loans at December 31, 2016 and 2015 (in thousands):

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	65,189	$	423	$	65,612	$	—	$	65,612
Substandard	1,179		—		1,179		—		1,179
Total	66,368		423		66,791		—		66,791
LTV => 35%
Pass	322,307		1,535		323,842		—		323,842
Special Mention	3,852		—		3,852		—		3,852
Substandard	12,600		1,044		13,644		5,223		18,867
Total	338,759		2,579		341,338		5,223		346,561
Total commercial	405,127		3,002		408,129		5,223		413,352
One-to-four family residential
LTV < 60%
Pass	56,787		2,427		59,214		—		59,214
Special Mention	—		705		705		—		705
Substandard	589		—		589		1,218		1,807
Total	57,376		3,132		60,508		1,218		61,726
LTV => 60%
Pass	43,316		—		43,316		—		43,316
Special Mention	—		—		—		—		—
Substandard	1,439		—		1,439		43		1,482
Total	44,755		—		44,755		43		44,798
Total one-to-four family residential	102,131		3,132		105,263		1,261		106,524
Construction and land
Pass	14,092		—		14,092		—		14,092
Special Mention	—		—		—		—		—
Substandard	—		—		—		—		—
Total construction and land	14,092		—		14,092		—		14,092
Multifamily
LTV < 35%
Pass	122,525		—		122,525		—		122,525
Special Mention	25		—		25		—		25
Substandard	—		—		—		40		40
Total	122,550		—		122,550		40		122,590
LTV= > 35%
Pass	1,380,331		900		1,381,231		—		1,381,231
Special Mention	4,636		—		4,636		—		4,636
Substandard	1,640		—		1,640		3		1,643
Total	1,386,607		900		1,387,507		3		1,387,510
Total multifamily	1,509,157		900		1,510,057		43		1,510,100
Home equity and lines of credit
Pass	66,369		120		66,489		—		66,489
Special Mention	29		—		29		—		29
Substandard	153		—		153		96		249
Total home equity and lines of credit	66,551		120		66,671		96		66,767
Commercial and industrial loans
Pass	31,040		133		31,173		—		31,173
Special Mention	696		—		696		—		696
Substandard	144		—		144		—		144
Total commercial and industrial loans	31,880		133		32,013		—		32,013
Other loans
Pass	1,452		46		1,498		—		1,498
Total other loans	1,452		46		1,498		—		1,498

98

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	2,130,390		7,333		2,137,723		6,623		2,144,346
Acquired loans:
One-to-four family residential
LTV < 60%
Pass	285,116		21		285,137		—		285,137
Special Mention	502		—		502		—		502
Substandard	654		261		915		420		1,335
Total	286,272		282		286,554		420		286,974
LTV => 60%
Pass	30,199		—		30,199		—		30,199
Substandard	259		207		466		—		466
Total	30,458		207		30,665		—		30,665
Total one-to-four family residential	316,730		489		317,219		420		317,639
Commercial
LTV < 35%
Pass	61,646		7		61,653		—		61,653
Special Mention	286		—		286		—		286
Substandard	406		1,040		1,446		231		1,677
Total	62,338		1,047		63,385		231		63,616
LTV => 35%
Pass	119,932		132		120,064		—		120,064
Special Mention	446		138		584		—		584
Substandard	3,419		259		3,678		59		3,737
Total	123,797		529		124,326		59		124,385
Total commercial	186,135		1,576		187,711		290		188,001
Construction and land
Pass	20,887		—		20,887		—		20,887
Total construction and land	20,887		—		20,887		—		20,887
Multifamily
LTV < 35%
Pass	205,025		—		205,025		—		205,025
Special Mention	99		111		210		—		210
Substandard	156		—		156		—		156
Total	205,280		111		205,391		—		205,391
LTV => 35%
Pass	9,569		—		9,569		—		9,569
Substandard	—		429		429		—		429
Total	9,569		429		9,998		—		9,998
Total multifamily	214,849		540		215,389		—		215,389
Commercial and industrial
Pass	25,419		—		25,419		—		25,419
Substandard	—		15		15		9		24
Total commercial and industrial	25,419		15		25,434		9		25,443
Home equity and lines of credit
Pass	25,340		45		25,385		—		25,385
Substandard	—		98		98		39		137
Total home equity and lines of credit	25,340		143		25,483		39		25,522
Other	355		4		359		—		359
Total loans acquired	789,715		2,767		792,482		758		793,240
	$	2,920,105	$	10,100	$	2,930,205	$	7,381	$	2,937,586

99

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	50,974	$	1,279	$	52,253	$	—	$	52,253
Special Mention	974		—		974		—		974
Substandard	1,233		—		1,233		—		1,233
Total	53,181		1,279		54,460		—		54,460
LTV => 35%
Pass	319,411		322		319,733		—		319,733
Special Mention	2,966		—		2,966		—		2,966
Substandard	8,696		11,627		20,323		5,232		25,555
Total	331,073		11,949		343,022		5,232		348,254
Total commercial	384,254		13,228		397,482		5,232		402,714
One-to-four family residential
LTV < 60%
Pass	45,737		2,692		48,429		—		48,429
Special Mention	134		370		504		—		504
Substandard	696		307		1,003		1,109		2,112
Total	46,567		3,369		49,936		1,109		51,045
LTV => 60%
Pass	46,578		—		46,578		—		46,578
Substandard	—		351		351		1,036		1,387
Total	46,578		351		46,929		1,036		47,965
Total one-to-four family residential	93,145		3,720		96,865		2,145		99,010
Construction and land
Pass	18,564		—		18,564		113		18,677
Total construction and land	18,564		—		18,564		113		18,677
Multifamily
LTV < 35%
Pass	124,678		—		124,678		—		124,678
Special Mention	—		51		51		—		51
Substandard	775		—		775		—		775
Total	125,453		51		125,504		—		125,504
LTV => 35%
Pass	1,187,147		1,769		1,188,916		—		1,188,916
Special Mention	2,687		1,145		3,832		—		3,832
Substandard	1,913		—		1,913		559		2,472
Total	1,191,747		2,914		1,194,661		559		1,195,220
Total multifamily	1,317,200		2,965		1,320,165		559		1,320,724
Home equity and lines of credit
Pass	61,561		374		61,935		—		61,935
Special Mention	75		—		75		—		75
Substandard	255		—		255		329		584
Total home equity and lines of credit	61,891		374		62,265		329		62,594
Commercial and industrial loans
Pass	24,780		51		24,831		15		24,846
Special Mention	316		—		316		—		316
Substandard	395		53		448		—		448
Total Commercial and industrial loans	25,491		104		25,595		15		25,610
Other loans
Pass	2,245		11		2,256		—		2,256
Total other loans	2,245		11		2,256		—		2,256

100

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	1,902,790		20,402		1,923,192		8,393		1,931,585
Loans acquired:
One-to-four family residential
LTV < 60%
Pass	313,425		312		313,737		—		313,737
Special Mention	549		—		549		—		549
Substandard	737		177		914		429		1,343
Total	314,711		489		315,200		429		315,629
LTV => 60%
Pass	14,759		—		14,759		—		14,759
Substandard	284		—		284		—		284
Total	15,043		—		15,043		—		15,043
Total one-to-four family residential	329,754		489		330,243		429		330,672
Commercial
LTV < 35%
Pass	2,164		—		2,164		—		2,164
Substandard	—		729		729		—		729
Total	2,164		729		2,893		—		2,893
LTV => 35%
Pass	5,536		—		5,536		—		5,536
Special Mention	883		—		883		—		883
Substandard	1,848		—		1,848		—		1,848
Total	8,267		—		8,267		—		8,267
Total commercial	10,431		729		11,160		—		11,160
Multifamily
LTV < 35%
Pass	4,695		—		4,695		—		4,695
Special Mention	138		—		138		—		138
Total	4,833		—		4,833		—		4,833
LTV => 35%
Pass	59,632		—		59,632		—		59,632
Special Mention	314		—		314		—		314
Total	59,946		—		59,946		—		59,946
Total multifamily	64,779		—		64,779		—		64,779
Home equity and lines of credit
Pass	2,404		—		2,404		—		2,404
Total home equity and lines of credit	2,404		—		2,404		—		2,404
Total loans acquired	407,368		1,218		408,586		429		409,015
	$	2,310,158	$	21,620	$	2,331,778	$	8,822	$	2,340,600

101

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The following table summarizes originated and acquired (subsequent to acquisition) impaired loans as of December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016							December 31, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance			Recorded Investment		Unpaid Principal Balance		Related Allowance
With No Allowance Recorded:
Real estate loans:
Commercial
Substandard	$	—	$	139	$	—		$	—	$	139	$	—
LTV => 35%
Pass	3,911		4,047		—			4,051		4,188		—
Special Mention	—		—		—
Substandard	14,780		16,868		—			13,371		14,748		—
One-to-four family residential
LTV < 60%
Pass	633		633		—			221		221		—
Substandard	184		184		—			234		234		—
LTV => 60%
Substandard	620		848		—			150		167
Multifamily
LTV < 35%
Substandard	156		156		—			—		—		—
LTV => 35%
Pass	63		534		—			75		545		—
Substandard	—		—		—			1,012		1,012		—
Home Equity
Pass	39		39		—			—		—		—
Commercial and industrial loans
Substandard	75		75		—			87		87		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Substandard	2,019		2,019		(64		)	4,891		5,430		(394		)
One-to-four family residential
LTV < 60%
Pass	—		—		—			503		503		(33		)
Substandard	1,522		1,522		(97		)	1,604		1,604		(152		)
LTV => 60%
Pass	275		275		(3		)
Special Mention	—		—		—			1,034		1,081		(97		)
Substandard	381		381		(41		)	—		—		—
Multifamily
LTV => 35%
Pass	1,309		1,309		(95		)	—		—		—
Substandard	—		—		—			1,371		1,371		(158		)
Home equity and lines of credit
Pass	258		258		(5		)	269		269		(11		)
Special Mention	—		—		—			44		44		(19		)
Substandard	39		39		(18		)	41		41		(21		)
Commercial and industrial loans
Special Mention	26		26		(5		)	29		29		(4		)
Total:
Real estate loans:
Commercial	20,710		23,073		(64		)	22,313		24,505		(394		)
One-to-four family residential	3,615		3,843		(141		)	3,746		3,810		(282		)
Multifamily	1,528		1,999		(95		)	2,458		2,928		(158		)
Home equity and lines of credit	336		336		(23		)	354		354		(51		)
Commercial and industrial loans	101		$	101	(5		)	116		116		(4		)
	$	26,290	$	29,352	$	(328	)	$	28,987	$	31,713	$	(889	)

102

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Included in the table above at December 31, 2016, are impaired loans with carrying balances of $11.5 million that were not written down by charge-offs or for which there are no specific reserves in our allowance for loan losses.  Included in the impaired loans at December 31, 2015, are loans with carrying balances of $14.5 million that were not written down by charge-offs or for which there are no specific reserves in our allowance for loan losses.  Loans not written down by charge-offs or specific reserves at December 31, 2016 and 2015, have sufficient collateral values, less costs to sell (including any discounts to facilitate a sale), or sufficient future cash flows to support the carrying balances of the loans. 

The following table summarizes the average recorded investment in originated and acquired impaired loans (excluding PCI loans) and interest recognized on impaired loans as of, and for, the years ended December 31, 2016, and December 31, 2015 (in thousands):

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
With No Allowance Recorded:
Real estate loans:
Commercial
LTV < 35%
Substandard	$	—	$	39	$	—	$	—
LTV => 35%
Pass	3,980		192		2,938		184
Special Mention	—		—		109		—
Substandard	13,853		450		12,593		884
One-to-four family residential
LTV < 60%
Pass	559		31		207		9
Special Mention	—		—		55		—
Substandard	213		21		188		22
One-to-four family residential
LTV => 60%
Substandard	339		26		101		3
Multifamily
LTV < 35%
Substandard	62		6		—		—
LTV => 35%
Pass	69		17		80		17
Substandard	582		—		688		27
Home equity and lines of credit
Pass	8		3
Special Mention	—		—		29		—
Commercial and industrial loans
Special Mention	—		—		59		—
Substandard	81		—		93		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Pass	—		—		668		—
Substandard	5,800		62		10,357		75
One-to-four family residential
LTV < 60%
Pass	137		—		263		19
Special Mention	—		—		127		—
Substandard	1,575		26		1,017		65
LTV => 60%
Pass	110		6		—		—
Special Mention	—		—		207		—
Substandard	796		4		377		102

103

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
Multifamily
LTV => 35%
Pass	794		50		—		—
Substandard	546		—		1,399		52
Home equity and lines of credit
Pass	264		8		163		7
Special Mention	34		—		129		3
Substandard	40		1		25		2
Commercial and industrial loans
Pass	—		—
Special Mention	27		1		24		2
Substandard	—		—		82		—
Total:
Real estate loans:
Commercial	23,633		743		26,665		1,143
One-to-four family residential	3,729		114		2,542		220
Multifamily	2,053		73		2,167		96
Home equity and lines of credit	346		12		346		12
Commercial and industrial loans	108		1		258		2
	$	29,869	$	943	$	31,978	$	1,473

There were no loans modified as troubled debt restructurings (“TDRs”) during the year ended December 31, 2016. The following tables summarize loans that were modified in a troubled debt restructuring during the year ended December 31, 2015:

	Year Ended December 31, 2015
		Pre-Modification		Post-Modification
	Number of	Outstanding Recorded		Outstanding Recorded
	Relationships	Investment		Investment
		(Dollars in thousands)
Commercial real estate loans
Substandard	3	$	8,957	$	8,457
One-to-four Family
Pass	1	20		20
Substandard	8	1,889		1,889
Home equity and lines of credit
Substandard	1	43		43
Total Troubled Debt Restructurings	13	$	10,909	$	10,409

One of the commercial real estate relationships in the table above, with a pre-modification outstanding recorded investment of $6.3 million, represents five loans to one borrower that were restructured into one loan, and then subsequently sold, during the year ended December 31, 2015. These loans were restructured to provide partial forgiveness of debt, after the borrower made a $500,000 principal payment. The remaining relationships in the table above were restructured to receive reduced interest rates. There were two loans modified as TDRs during the year ended December 31, 2015, that subsequently defaulted, consisting of two one-to-four family residential loans to one borrower, with a recorded investment of $361,000 at December 31, 2016, one of which totaling approximately $184,000, was paid off in full in February 2017.

At December 31, 2016 and 2015, we had TDRs of $22.4 million and $26.6 million, respectively.

Management classifies all troubled debt restructurings as impaired loans.  Impaired loans are individually assessed to determine that the loan’s carrying value is not in excess of the estimated fair value of the collateral (less cost to sell), if the loan is collateral dependent, or the present value of the expected future cash flows, if the loan is not collateral dependent. Management performs a detailed evaluation of each impaired loan and generally obtains updated appraisals as part of the

104

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Notes to Consolidated Financial Statements - (Continued)

evaluation.  In addition, management adjusts estimated fair values down to appropriately consider recent market conditions, our willingness to accept a lower sales price to effect a quick sale, and costs to dispose of any supporting collateral.  Determining the estimated fair value of underlying collateral (and related costs to sell) can be difficult in illiquid real estate markets and is subject to significant assumptions and estimates.  Management employs an independent third-party expert in appraisal preparation and review to ascertain the reasonableness of updated appraisals.  Projecting the expected cash flows under troubled debt restructurings which are not collateral dependent is inherently subjective and requires, among other things, an evaluation of the borrower’s current and projected financial condition. Actual results may be significantly different than our projections and our established allowance for loan losses on these loans, which could have a material effect on our financial results.

(6) Premises and Equipment, Net

At December 31, 2016 and 2015, premises and equipment, less accumulated depreciation and amortization, consists of the following (in thousands): 

	December 31,
	2016			2015
At cost:
Land	$	4,018		$	2,530
Buildings and improvements	8,856			6,695
Capital leases	2,600			2,600
Furniture, fixtures, and equipment	21,962			19,954
Leasehold improvements	27,398			26,197
	64,834			57,976
Accumulated depreciation and amortization	(37,924		)	(34,333		)
Premises and equipment, net	$	26,910		$	23,643

Depreciation expense for the years ended December 31, 2016, 2015, and 2014, was $3.6 million, $3.4 million, and $3.6 million, respectively.

There were no sales of premises and equipment in 2016, 2015, or 2014.

(7) Deposits

Deposit account balances are summarized as follows (dollars in thousands): 

	As of December 31,
	2016				2015
	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Transaction:
Negotiable orders of withdrawal	$	467,440	0.34	%	$	217,813	0.25	%
Non-interest bearing checking	390,484		—	%	263,073		—	%
Total transaction	857,924		0.19	%	480,886		0.11	%
Savings:
Money market	818,660		0.67	%	548,132		0.62	%
Savings	500,926		0.24	%	524,043		0.47	%
Total savings	1,319,586		0.51	%	1,072,175		0.55	%
Certificates of deposit:
Under $250,000	484,480		1.22	%	461,127		1.11	%
$250,000 or more	51,597		1.48	%	38,741		1.73	%
Total certificates of deposit	536,077		1.24	%	499,868		1.15	%
Total deposits	$	2,713,587	0.55	%	$	2,052,929	0.59	%

The Company had brokered deposits (included in certificates of deposit in the above table) of $98.8 million and $157.1 million at December 31, 2016 and 2015, respectively. 

105

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Scheduled maturities of certificates of deposit are summarized as follows (in thousands): 

	December 31, 2016
2017	$	237,733
2018	109,599
2019	94,622
2020	78,344
2021	15,779
Thereafter	—
Total	$	536,077

Interest expense on deposits is summarized as follows (in thousands):

	December 31,
	2016		2015		2014
Negotiable order of withdrawal and money market	$	5,634	$	2,816	$	1,766
Savings-passbook and statement	2,124		2,141		445
Certificates of deposit	6,529		5,466		3,180
	$	14,287	$	10,423	$	5,391

(8) Borrowings

Borrowings consisted of securities sold under agreements to repurchase, FHLB advances, and obligations under capital leases and are summarized as follows (in thousands): 

	December 31,
	2016		2015
Repurchase agreements	$	8,000	$	63,000
Other borrowings:
FHLB advances	453,220		487,130
Floating rate advances	11,463		7,272
Obligations under capital leases	523		727
	$	473,206	$	558,129

FHLB advances are secured by a blanket lien on unencumbered securities and the Company’s FHLB capital stock.    

Repurchase agreements and FHLB advances have contractual maturities as follows (in thousands): 

	December 31, 2016
	FHLB		Repurchase
	Advances		Agreements
2017	$	159,003	$	6,000
2018	140,715		2,000
2019	93,502		—
2020	60,000		—
2021	—		—
	$	453,220	$	8,000

At December 31, 2016, repurchase agreements have a weighted average rate of 3.19%, with $4.0 million maturing in the first quarter of 2017 and $4.0 million maturing in more than 90 days.  The repurchase agreements are secured primarily by mortgage-backed securities with an amortized cost of $13.7 million, and a fair value of $13.9 million, at December 31, 2016.  At December 31, 2015, repurchase agreements had a weighted average rate of 2.77%, with $51.0 million maturing in the first quarter of 2016 and $12.0 million maturing in more than 90 days. The repurchase agreements were secured primarily by mortgage-backed securities with an amortized cost of $69.1 million, and a fair value of $70.7 million, at December 31, 2015.    

106

NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The Company has the ability to obtain additional funding from the FHLB and Federal Reserve Bank discount window of approximately $837.8 million, utilizing unencumbered and unpledged securities of $123.0 million and multifamily loans of $798.6 million at December 31, 2016.  The Company expects to have sufficient funds available to meet current commitments in the normal course of business.

Interest expense on borrowings is summarized as follows (in thousands): 

	December 31,
	2016		2015		2014
Repurchase agreements	$	569	$	2,446	$	4,161
FHLB advances	6,743		6,742		5,717
Floating rate advances	27		17		3
Obligations under capital leases	42		60		80
	$	7,381	$	9,265	$	9,961

(9) Income Taxes

Income tax expense (benefit) consists of the following (in thousands): 

	December 31,
	2016			2015			2014
Federal tax expense (benefit):
Current	$	14,218		$	11,796		$	11,195
Deferred	(1,260		)	(2,305		)	(1,675		)
	12,958			9,491			9,520
State and local tax expense (benefit):
Current	2,506			1,811			1,828
Deferred	(1,799		)	673			508
	707			2,484			2,336
Total income tax expense	$	13,665		$	11,975		$	11,856

Reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate for the years ended December 31, 2016, 2015, and 2014, is as follows (dollars in thousands): 

	December 31,
	2016			2015			2014
Tax expense at statutory rate of 35%	$	13,928		$	11,027		$	11,242
Increase (decrease) in taxes resulting from:
State tax, net of federal income tax	460			1,615			1,519
Bank owned life insurance	(1,399		)	(1,319		)	(1,366		)
Merger related costs	74			201			—
Incentive stock options	299			210			134
Uncertain tax position	178			51			131
Other, net	125			190			196
Income tax expense	$	13,665		$	11,975		$	11,856

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2016 and 2015, are as follows (in thousands): 

	December 31,
	2016		2015
Deferred tax assets:
Allowance for loan losses	$	9,470	$	9,514
Capitalized leases	213		287
Deferred compensation	5,686		2,450
Accrued salaries	1,128		910
Postretirement benefits	576		555
Equity awards	5,005		4,707
Unrealized actuarial losses on post retirement benefits	124		217
Straight-line leases adjustment	1,219		1,099
Asset retirement obligation	89		97
Reserve for accrued interest receivable	1,116		775
Reserve for loan commitments	193		127
Employee Stock Ownership Plan	642		532
Other	366		358
Depreciation	2,509		2,123
Fair value adjustments of acquired loans	10,168		7,105
Fair value adjustments of pension benefit obligations	250		267
Unrealized losses on securities	2,775		1,780
Total gross deferred tax assets	41,529		32,903
Deferred tax liabilities:
Fair value adjustments of acquired securities	82		9
Fair value adjustments of deposit liabilities	547		30
Deferred loan fees	1,910		1,777
Other	59		21
Total gross deferred tax liabilities	2,598		1,837
Net deferred tax asset	$	38,931	$	31,066

The Company recorded net deferred tax assets of approximately $3.9 million as a result of the Hopewell Valley acquisition.

The Company has determined that it is not required to establish a valuation reserve for the net deferred tax asset account since it is “more likely than not” that the net deferred tax assets will be realized through future reversals of existing taxable temporary differences, future taxable income and tax planning strategies.  The conclusion that it is “more likely than not” that the net deferred tax assets will be realized is based on the history of earnings and the prospects for continued profitability.  Management will continue to review the tax criteria related to the recognition of deferred tax assets.

As a savings institution, the Bank is subject to a special federal tax provision regarding its frozen tax bad debt reserve. At December 31, 2016, and December 31, 2015, the Bank’s federal tax bad debt base-year reserve was $5.9 million, with a related net deferred tax liability of $2.8 million, which has not been recognized since the Bank does not expect that this reserve will become taxable in the foreseeable future. Events that would result in taxation of this reserve include redemptions of the Bank’s stock or certain excess distributions by the Bank to the Company.

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Notes to Consolidated Financial Statements - (Continued)

A reconciliation of the Company’s uncertain tax positions are as follows (in thousands):

	December 31,
	2016		2015		2014
Beginning balance	$	281	$	230	$	679
Settlements based on tax positions related to prior years	—		—		(580		)
Additions based on tax positions related to prior years	178		51		131
Ending balance	$	459	$	281	$	230

The Company recognizes interest and penalties on income taxes in income tax expense.

The following years are open for examination or under examination:

• Federal tax filings for 2013 through present.

• New York State tax filings 2013 through present. The 2010 through 2012 filings are currently under examination.

• New York City tax filings 2013 through present. The 2010 through 2012 filings are currently under examination.

• State of New Jersey 2013 through present.

(10) Retirement Benefits 

The Company has a 401(k) plan for its employees, which grants eligible employees (those salaried employees with at least three months of service) the opportunity to invest from 2% to 15% of their base compensation in certain investment alternatives.  The Company contributes an amount equal to 25% of employee contributions on the first 6% of base compensation contributed by eligible employees for the first three years of participation.  Subsequent years of participation in excess of three years will increase the Company matching contribution from 25% to 50% of an employee’s contributions, on the first 6% of base compensation contributed by eligible employees.  A member becomes fully vested in the Company’s contributions upon (a) completion of five years of service, or (b) normal retirement, early retirement, permanent disability, or death.  The Company’s contribution to this plan amounted to approximately $384,000, $321,000, and $292,000 for the years ended December 31, 2016, 2015, and 2014, respectively. 

The Company also maintains a profit-sharing plan in which the Company can contribute to the participant’s 401(k) account, at its discretion, up to the legal limit of the Internal Revenue Code.  The Company did not contribute to the profit sharing plan during 2016, 2015, and 2014.

The Company maintains the Northfield Bank ESOP.  The ESOP is a tax-qualified plan designed to invest primarily in the Company’s common stock.  The ESOP provides employees with the opportunity to receive a funded retirement benefit from the Bank, based primarily on the value of the Company’s common stock.  The ESOP purchased 2,463,884 shares of the Company’s common stock in the Company’s initial public offering at a price of $7.13 per share.  This purchase was funded with a loan from Northfield Bancorp, Inc. to the ESOP.  The outstanding balance at December 31, 2016 and 2015 was $12.1 million and $12.7 million, respectively.  The shares of the Company’s common stock purchased in the initial public offering are pledged as collateral for the loan.  Shares are released for allocation to participants as loan payments are made.  A total of 97,836 and 80,131 shares were released and allocated to participants of the ESOP for the years ended December 31, 2016 and 2015, respectively.  Cash dividends on unallocated shares are utilized to satisfy required debt payments.  Dividends on allocated shares are utilized to prepay debt which releases additional shares to participants.

Upon completion of the Company’s second-step conversion, a second ESOP was established for employees in 2013, which purchased 1,422,357 shares of the Company’s common stock at a price of $10.00 per share.  The purchase was funded with a loan from Northfield Bancorp, Inc. to the second ESOP.  The outstanding balance at December 31, 2016 and 2015 was $12.9 million and $13.3 million, respectively.  The shares of the Company’s common stock purchased in the second-step conversion are pledged as collateral for the loan.  Shares are released for allocation to participants as loan payments are made.  A total of 50,086 and 47,384 shares were released and allocated to participants of the second ESOP for the years ended December 31, 2016 and 2015, respectively.  Cash dividends on unallocated shares are utilized to satisfy required debt payments.  Dividends on allocated shares are utilized to prepay debt which releases additional shares to participants.

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Notes to Consolidated Financial Statements - (Continued)

ESOP compensation expense for both plans for the years ended December 31, 2016, 2015, and 2014 was $2.0 million, $1.9 million, and $1.7 million, respectively.  

The Company maintains a Supplemental Employee Stock Ownership Plan (the "SESOP"), a non-qualified plan, that provides supplemental benefits to certain executives who are prevented from receiving the full benefits contemplated by the ESOP’s benefit formula due to tax law limits for tax-qualified plans.  The supplemental payments for the SESOP consist of cash payments representing the value of Company shares that cannot be allocated to participants under the ESOPs due to legal limitations imposed on tax-qualified plans.  The Company's required contributions to the SESOP plan were $82,000, $82,000, and $7,000 for the years ended December 31, 2016, 2015, and 2014, respectively. 

The Company provides post retirement medical and life insurance to a limited number of retired individuals.  The Company also provides retiree life insurance benefits to all qualified employees, up to certain limits.  The following tables set forth the funded status and components of postretirement benefit costs at December 31 measurement dates (in thousands): 

	2016			2015			2014
Accumulated postretirement benefit obligation beginning of year	$	1,950		$	1,846		$	1,294
Service cost	8			9			6
Interest cost	71			62			53
Actuarial (gain) loss	(214		)	149			578
Benefits paid	(118		)	(116		)	(85		)
Accumulated postretirement benefit obligation end of year	1,697			1,950			1,846
Accrued liability (included in accrued expenses and other liabilities)	$	1,697		$	1,950		$	1,846

The following table sets forth the amounts recognized in accumulated other comprehensive income (loss) (in thousands): 

	December 31,
	2016		2015
Net loss	$	310	$	578
Transition obligation	—		—
Prior service cost	—		12
Loss recognized in accumulated other comprehensive income (loss)	$	310	$	590

The estimated net loss, prior service cost, and transition obligation, that will be amortized from accumulated other comprehensive income (loss) into net periodic cost in 2017, are $28,000,  $0, and $0 respectively. 

The following table sets forth the components of net periodic postretirement benefit costs for the years ended December 31, 2016, 2015, and 2014 (in thousands): 

	December 31,
	2016		2015		2014
Service cost	$	8	$	9	$	6
Interest cost	71		62		53
Amortization of transition obligation	—		17		17
Amortization of prior service costs	12		38		24
Amortization of unrecognized loss (gain)	54		44		(11		)
Net postretirement benefit cost included in compensation and employee benefits	$	145	$	170	$	89

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Notes to Consolidated Financial Statements - (Continued)

The assumed discount rate related to plan obligations reflects the weighted average of published market rates for high-quality corporate bonds with terms similar to those of the plans expected benefit payments, rounded to the nearest quarter percentage point.  The Company’s discount rate and rate of compensation increase used in accounting for the plan are as follows: 

	2016		2015		2014
Assumptions used to determine benefit obligation at period end:
Discount rate	3.50	%	3.75	%	3.50	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%
Assumptions used to determine net periodic benefit cost for the year:
Discount rate	3.75	%	3.50	%	4.25	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%

At December 31, 2016, a medical cost trend rate of 8.75% decreasing 0.50% per year thereafter until an ultimate rate of 4.75% is reached, was used in the plan’s valuation.  The Company’s healthcare cost trend rates are based, among other things, on the Company’s own experience and third-party analysis of recent and projected healthcare cost trends.

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands): 

	One Percentage Point Increase				One Percentage Point Decrease
	2016		2015		2016			2015
Effect on benefits earned and interest cost	$	6	$	6	$	(5	)	$	(4	)
Effect on accumulated postretirement benefit obligation	121		156		(108		)	(139		)

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):

	One Percentage Point Increase						One Percentage Point Decrease
	2016		2015		2014		2016			2015			2014
Aggregate of service and interest components of net periodic cost (benefit)	$	6	$	6	$	4	$	(5	)	$	(4	)	$	(3	)

Benefit payments of approximately $118,000, $116,000, and $85,000 were made in 2016, 2015, and 2014, respectively. The benefits expected to be paid under the postretirement health benefits plan for the next five years are as follows: $120,000 in 2017; $123,000 in 2018; $126,000 in 2019; $128,000 in 2020; and $129,000 in 2021.  The benefit payments expected to be paid in the aggregate for the years 2022 through 2026 are $617,000.  The expected benefits are based on the same assumptions used to measure the Company’s benefit obligation at December 31, 2016, and include estimated future employee service.

The Company also maintained a defined benefit pension plan covering certain employees and individuals from the Flatbush Federal Savings and Loan Association Pension Plan (as part of the acquisition of Flatbush Federal Bancorp, Inc. and its wholly-owned subsidiary, Flatbush Federal Savings and Loan Association), which was terminated in February 2014, and resulted in the Company recognizing a pre-tax gain of $937,000. 

The Company maintains a nonqualified plan to provide for the elective deferral of all or a portion of director fees by members of the board of directors, deferral of all or a portion of the compensation and/or annual incentive compensation payable to eligible employees of the Company, and to provide to certain officers of the Company benefits in excess of those permitted to be paid by the Company’s savings plan, ESOP, and profit-sharing plan under the applicable Internal Revenue Code.  The plan obligation was approximately $14.1 million and $6.9 million at December 31, 2016 and 2015, respectively, and is included in accrued expenses and other liabilities on the consolidated balance sheets.  Income under this plan was $503,000, $392,000, and $153,000 for the years ended December 31, 2016, 2015, and 2014, respectively. The Company invests to fund this future obligation, in various mutual funds designated as trading securities.  The securities are marked-to-market through current period earnings as a component of non-interest income.  Accrued obligations under this plan are credited or charged with the return on the trading securities portfolio as a component of compensation and benefits expense.

The Company entered into a supplemental retirement agreement with its former president and director in 2006.  The agreement provided for 120 monthly payments of $17,450.  The present value of the obligation, of approximately $1.6 million,

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Notes to Consolidated Financial Statements - (Continued)

was recorded in compensation and benefits expense in 2006. The payments were completed during 2016 and no obligation remains as of December 31, 2016. The present value of the obligation at December 31, 2015 was $154,000. 

(11) Equity Incentive Plan

In November 2016, the Company granted to an employee 20,000 restricted shares, and 40,000 stock options to purchase Company stock. These shares and options were issued out of the 2008 Equity Incentive Plan (the “2008 EIP”), which allows the Company to grant common stock or options to purchase common stock at specific prices to directors and employees of the Company. The 2008 EIP provides for the issuance or delivery of up to 4,311,796 shares of Northfield Bancorp, Inc. common stock subject to certain plan limitations. As of December 31, 2016, 40,085 restricted shares and 111,445 stock options remain available for issuance under the 2008 EIP.  All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2008 EIP.  Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years.  The fair value of stock options granted on November 16, 2016, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 1.80%, volatility of 30.07% and a dividend yield of 1.74%.  The fair value of stock options granted on July 26, 2013, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 1.39%, volatility of 35.33% and a dividend yield of 1.98%.  The fair value of stock options granted on January 30, 2010, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.90%, volatility of 38.29% and a dividend yield of 1.81%. The fair value of stock options granted on May 29, 2009, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.88%, volatility of 38.39% and a dividend yield of 1.50%. The fair value of stock options granted on January 30, 2009, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.17%, volatility of 35.33% and a dividend yield of 1.61%. The Company is expensing the grant date fair value of all employee and director share-based compensation over the requisite service periods on a straight-line basis.

In May 2015, the Company granted to directors and employees 419,000 restricted shares, and 1,090,000 stock options to purchase Company stock. These shares and options were issued out of the 2014 Equity Incentive Plan (the “2014 EIP”), which allows the Company to grant common stock or options to purchase common stock at specific prices to directors and employees of the Company. The 2014 EIP provides for the issuance or delivery of up to 4,978,249 shares (1,422,357 restricted shares and 3,555,892 stock options) of Northfield Bancorp, Inc. common stock subject to certain plan limitations. All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2014 EIP. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years. The fair value of stock options granted on May 27, 2015, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.67%, volatility of 32.06% and a dividend yield of 1.90%. As of December 31, 2016, 56,157 restricted shares and 86,852 stock options remain available for issuance under the 2014 EIP.

In 2014, the Company granted to directors and employees 1,001,200 restricted shares, and 2,502,600 stock options to purchase Company stock. These shares and options were issued out of the 2014 EIP. All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2014 EIP. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years. The fair value of stock options granted on June 11, 2014, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.92%, volatility of 33.83% and a dividend yield of 1.83%. The fair value of stock options granted on December 8, 2014, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.81%, volatility of 32.92% and a dividend yield of 1.68%.

During the years ended December 31, 2016, 2015, and 2014, the Company recorded, $7.3 million, $6.8 million, and $2.8 million of stock-based compensation.

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Notes to Consolidated Financial Statements - (Continued)

The following table is a summary of the Company’s non-vested stock options as of December 31, 2016, and changes therein during the year then ended: 

	Number of Stock Options		Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Contractual Life (years)
Outstanding- December 31, 2014	5,138,072		$	3.08	$	10.04	7.44
Granted	1,090,000		4.07		14.76		9.41
Forfeited	(73,040	)	3.91		13.13		—
Exercised	(143,171	)	2.33		7.22		—
Outstanding- December 31, 2015	6,011,861		3.30		10.93		6.41
Granted	40,000		4.94		18.44		9.88
Forfeited	(32,520	)	4.00		13.78		—
Exercised	(690,671	)	2.52		7.84		—
Outstanding- December 31, 2016	5,328,670		3.41		11.36		5.78
Exercisable- December 31, 2016	2,985,272		$	2.92	$	9.44	4.15

Expected future stock option expense related to the non-vested options outstanding as of December 31, 2016, is $7.0 million over an average period of 2.9 years.

The following is a summary of the status of the Company’s restricted shares as of December 31, 2016, and changes therein during the year then ended: 

	Number of Shares Awarded		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	1,003,074		$	13.11
Granted	419,000		14.76
Vested	(196,492	)	13.09
Forfeited	(31,720	)	13.13
Non-vested at December 31, 2015	1,193,862		13.70
Granted	20,000		18.44
Vested	(277,580	)	13.61
Forfeited	(12,280	)	13.87
Non-vested at December 31, 2016	924,002		$	13.82

Expected future stock award expense related to the non-vested restricted awards as of December 31, 2016, is $9.8 million over an average period of 2.9 years.

Upon the exercise of stock options, management expects to utilize treasury stock as the source of issuance for these shares.

(12) Commitments and Contingencies

The Company, in the normal course of business, is party to commitments that involve, to varying degrees, elements of risk in excess of the amounts recognized in the consolidated financial statements.  These commitments include unused lines of credit and commitments to extend credit.

At December 31, 2016 and 2015, the following commitment and contingent liabilities existed that are not reflected in the accompanying consolidated financial statements (in thousands):

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Notes to Consolidated Financial Statements - (Continued)

	December 31,
	2016		2015
Commitments to extend credit	$	46,069	$	18,400
Unused lines of credit	78,825		69,414
Standby letters of credit	7,463		471

The Company’s maximum exposure to credit losses in the event of nonperformance by the other party to these commitments is represented by the contractual amount.  The Company uses the same credit policies in granting commitments and conditional obligations as it does for amounts recorded in the consolidated balance sheets.  These commitments and obligations do not necessarily represent future cash flow requirements.  The Company evaluates each customer’s creditworthiness on a case-by-case basis.  The amount of collateral obtained, if deemed necessary, is based on management’s assessment of risk.  Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third-party. The guarantees generally extend for a term of up to one year and are fully collateralized.  For each guarantee issued, if the customer defaults on a payment to the third-party, the Company would have to perform under the guarantee.  The unamortized fee on standby letters of credit approximates their fair value; such fees were insignificant at December 31, 2016, and at December 31, 2015.  The Company maintains an allowance for estimated losses on commitments to extend credit in other liabilities.  At December 31, 2016 and 2015, the allowance was $475,000 and $318,000, respectively, and changes to the allowance are recorded as a component of other non-interest expense. 

At December 31, 2016, the Company was obligated under non-cancelable operating leases and capitalized leases on property used for banking purposes.  Most leases contain escalation clauses and renewal options which provide for increased rentals as well as for increases in certain property costs including real estate taxes, common area maintenance, and insurance.

The projected minimum annual rental payments and receipts under the capitalized leases and operating leases are as follows (in thousands): 

	Rental Payments Capitalized Leases		Rental Payments Operating Leases
Year ending December 31:
2017	$	254	$	4,682
2018	262		4,290
2019	44		3,957
2020	—		3,956
2021	—		3,521
Thereafter	—		30,069
Total minimum lease payments	$	560	$	50,475

Net rental expense included in occupancy expense was approximately $5.2 million, $4.6 million, and $4.3 million for the years ended December 31, 2016, 2015, and 2014, respectively. 

In the normal course of business, the Company may be a party to various outstanding legal proceedings and claims.  In the opinion of management, the consolidated financial statements will not be materially affected by the outcome of such legal proceedings and claims.

The Bank has entered into employment agreements with its Chief Executive Officer and the other executive officers of the Bank to ensure the continuity of executive leadership, to clarify the roles and responsibilities of executives, and to make explicit the terms and conditions of executive employment.  These agreements are for a term of three years subject to review and annual renewal, and provide for certain levels of base annual salary and in the event of a change in control, as defined, or in the event of termination, as defined, certain levels of base salary, bonus payments, and benefits for a period of up to three years.

(13) Regulatory Requirements

Federal regulations require federally insured depository institutions to meet several minimum capital standards: a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, a total capital to risk-based assets of 8.0%, and a 4.0% Tier 1 capital to total assets leverage ratio. These capital requirements were effective

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Notes to Consolidated Financial Statements - (Continued)

January 1, 2015, and are the result of a final rule implementing recommendations of the Basel Committee on Banking Supervision and certain requirements of the Dodd-Frank Act.

Under prompt corrective action regulations, the OCC is required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution.  Such actions could have a direct material effect on the institution’s financial statements.  The regulations establish a framework for the classification of savings institutions into five categories: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized.  Generally, an institution is considered well capitalized if it has a leverage (Tier 1) ratio of 5.0% or greater, a common equity Tier 1 ratio of 6.5% or greater, a Tier 1 risk-based capital ratio of 8.0% or greater, and a total risk-based capital ratio of 10.0% or greater.

The foregoing capital ratios are based in part on specific quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices.  Capital amounts and classifications also are subject to qualitative judgments by the regulators about capital components, risk weighting, and other factors.

On January 1, 2015, a final rule issued by the federal bank regulatory agencies became effective which 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 establishes a new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), increases the minimum Tier 1 capital to risk-based assets requirement (from 4% to 6% of risk-weighted assets) and assigns a higher risk weight (150%) to exposures that are more than 90 days past due or are on non-accrual 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 to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out election is exercised.  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 capital conservation buffer requirement was phased in beginning January 1, 2016, and will be fully phased by January 1, 2019. The final rule also implemented consolidated capital requirements for savings and loan holding companies, such as the Company, effective January 1, 2015.

Management believes that as of December 31, 2016, and December 31, 2015, the Bank exceeded all capital adequacy requirements to which it is subject. Further, the most recent OCC notification categorized the Bank as a well-capitalized institution under the prompt corrective action regulations. There have been no conditions or events since that notification that management believes have changed the Bank's classification.

The following is a summary of Northfield Bank’s regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands):

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	553,715	17.75	%	$	140,371	4.50	%	$	202,758	6.50	%
Tier 1 Leverage	553,715		14.55		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	553,715		17.75		187,161		6.00		249,548		8.00
Total capital (to risk-weighted assets)	578,828		18.56		249,548		8.00		311,935		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	498,067	20.19	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	498,067		15.72		126,744		4.00		158,429		5.00
Tier I capital (to risk-weighted assets)	498,067		20.19		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	523,223		21.21		197,378		8.00		246,722		10.00	%

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Notes to Consolidated Financial Statements - (Continued)

The following is a summary of the Company's regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands).

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	586,055	18.79	%	$	140,329	4.50	%	$	202,698	6.50	%
Tier 1 Leverage	586,055		15.40		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	586,055		18.79		187,106		6.00		249,474		8.00
Total capital (to risk-weighted assets)	611,168		19.60		249,474		8.00		380,533		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	546,564	22.15	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	546,564		17.25		126,764		4.00		158,455		5.00
Tier I capital (to risk-weighted assets)	546,564		22.15		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	571,720		23.17		197,378		8.00		246,722		10.00

(14) Fair Value of Measurement

The following table presents the assets reported on the consolidated balance sheet at their estimated fair value as of December 31, 2016 and 2015, by level within the Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification.  Financial assets and liabilities are classified in their entirety based on the level of input that is significant to the fair value measurement.  The fair value hierarchy is as follows: 

• Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

• Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means.

• Level 3 Inputs – Significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities.

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Notes to Consolidated Financial Statements - (Continued)

The following tables summarize financial assets and financial liabilities measured at fair value as of December 31, 2016 and 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):   

	Fair Value Measurements at December 31, 2016 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	448,842	$	—	$	448,842	$	—
Non-GSE	270		—		270		—
Debt securities
Municipal bonds	2,158		—		2,158
Corporate bonds	45,159		—		45,159		—
Other securities
Equity investments - mutual funds	1,218		271		947		—
Other	1,250		—		1,250		—
Total available-for-sale	498,897		271		498,626		—
Trading securities	7,857		7,857		—		—
Total	$	506,754	$	8,128	$	498,626	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	10,730	$	—	$	—	$	10,730
One-to-four family residential mortgage	2,177		—		—		2,177
Multifamily	1,276		—		—		1,276
Home equity and lines of credit	274		—		—		274
Total impaired real estate loans	14,457		—		—		14,457
Commercial and industrial loans	21		—		—		21
Other real estate owned	850		—		—		850
Total	$	15,328	$	—	$	—	$	15,328

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

	Fair Value Measurements at December 31, 2015 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	529,524	$	—	$	529,524	$	—
Non-GSE	579		—		579		—
Debt securities
Corporate bonds	11,011		—		11,011		—
Other securities
Equities	481		481		—		—
Total available-for-sale	541,595		481		541,114		—
Trading securities	6,713		6,713		—		—
Total	$	548,308	$	7,194	$	541,114	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	9,091	$	—	$	—	$	9,091
One-to-four family residential mortgage	2,873		—		—		2,873
Multifamily	1,288		—		—		1,288
Home equity and lines of credit	303		—		—		303
Total impaired real estate loans	13,555		—		—		13,555
Commercial and industrial loans	25		—		—		25
Other real estate owned	45		—		—		45
Total	$	13,625	$	—	$	—	$	13,625

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2016:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	14,478	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	850	Appraisals	Discount for costs to sell	7.0%

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2015:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	13,580	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10.0%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	45	Appraisals	Discount for costs to sell	7.0%

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Available-for-Sale Securities: The estimated fair values for mortgage-backedsecurities, GSE bonds,and corporate securities are obtained from a nationally recognized third-party pricing service.  The estimated fair values are derived primarily from cash flow models, which include assumptions for interest rates, credit losses, and prepayment speeds.  Broker/dealer quotes are utilized as well when such quotes are available and deemed representative of the market.  The significant inputs utilized in the cash flow models are based on market data obtained from sources independent of the Company (observable inputs,) and are therefore classified as Level 2 within the fair value hierarchy.  The estimated fair value of equity securities classified as Level 1, are derived from quoted market prices in active markets.  Equity securities consist primarily of money market mutual funds. There werenotransfers of securities between Level 1 and Level 2 during the year ended December 31, 2016. 

Trading Securities: Fair values are derived from quoted market prices in active markets.  The assets consist of publicly traded mutual funds.

Impaired Loans: AtDecember 31, 2016,and December 31, 2015, the Company hadoriginatedimpaired loansheld-for-investmentwith outstanding principal balances of$17.7 million and$17.0 million that were recorded at their estimated fair value of$14.5 million and$13.6 million, respectively. The Company recorded a net decrease in the specific reserve for impaired loans of$562,000 and $725,000 for theyears ended December 31, 2016and2015, respectively, andnetcharge-offs of$810,000 and$1.9 million for theyears ended December 31, 2016 and 2015,respectively, utilizing Level 3 inputs.  For purposes of estimating fair value of impaired loans, management utilizes independent appraisals, if the loan is collateral dependent, adjusted downward by management, as necessary, for changes in relevant valuation factors subsequent to the appraisal date, or the present value of expected future cash flows for non-collateral dependent loans and troubled debt restructurings.

Other Real Estate Owned:  At December 31, 2016 and 2015, the Company had assets acquired through foreclosure of$850,000and$45,000, respectively, recorded at estimated fair value, less estimated selling costs when acquired, thus establishing a new cost basis.  Estimated fair value is generally based on independent appraisals.  These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are considered Level 3 inputs.  When an asset is acquired, the excess of the loan balance over fair value, less estimated selling costs, is charged to the allowance for loan losses.  If the estimated fair value of the asset declines, a write-down is recorded through non-interest expense.  The valuation of foreclosed assets is subjective in nature and may be adjusted in the future because of changes in the economic conditions. 

In addition,the Company may be required, from time to time, to measure the fair value of certain other financial assets on a nonrecurring basis in accordance with U.S. GAAP.  The adjustments to fair value usually result from the application of lower-of-cost-or-market accounting or write downs of individual assets.

Fair Value of Financial Instruments

The FASB Accounting Standards Topic forFinancial Instrumentsrequires disclosure of the fair valueof financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring or non-recurring basis.  The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above.  The following methods and assumptions were used to estimate the fair value of other financial assets and financial liabilities not already discussed above:

(a) Cash, Cash Equivalents, and Certificates of Deposit

Cash and cash equivalents are short-term in nature with original maturities of three months or less; the carrying amount approximates fair value. Certificates of deposits having original terms of six-months or less; carrying value generally approximates fair value. Certificate of deposits with an original maturity of six months or greater the fair value is derived from discounted cash flows.

(b) Securities (Held-to-Maturity)

The estimated fair values for substantially all of our securities are obtained from an independent nationally recognized pricing service.  The independent pricing service utilizes market prices of same or similar securities whenever such prices are available.  Prices involving distressed sellers are not utilized in determining fair value.  Where necessary, the independent third-party pricing service estimates fair value using models employing techniques such as discounted cash flow analyses.  The

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

assumptions used in these models typically include assumptions for interest rates, credit losses, and prepayments, utilizing market observable data where available.

(c) Federal Home Loan Bank of New York Stock

The fair value for FHLB of New York stock is its carrying value, since this is the amount for which it could be redeemed and there is no active market for this stock.

(d) Loans (Held-for-Investment)

Fair values are estimated for portfolios of loans with similar financial characteristics.  Loans are segregated by type such as originated and purchased, and further segregated by residential mortgage, construction, land, multifamily, commercial and consumer.  Each loan category is further segmented into amortizing and non-amortizing and fixed and adjustable rate interest terms and by performing and non-performing categories.  The fair value of loans is estimated by discounting the future cash flows using current prepayment assumptions and current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.  This method of estimating fair value does not incorporate the exit price concept of fair value prescribed by the FASB ASC Topic for Fair Value Measurements and Disclosures, which would also consider adjustments for other factors such as liquidity and credit quality. The fair value would be affected significantly by these other factors.

(e) Loans (Held-for-Sale)

Held-for-sale loans are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore fair value is equal to carrying value.

(f) Deposits

The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, NOW and money market accounts, is equal to the amount payable on demand.  The fair value of certificates of deposit is based on the discounted value of contractual cash flows.  The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

(g) Commitments to Extend Credit and Standby Letters of Credit

The fair value of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties.  For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of off-balance-sheet commitments is insignificant and therefore not included in the following table.

(h) Borrowings

The fair value of borrowings is estimated by discounting future cash flows based on rates currently available for debt with similar terms and remaining maturity.

(i) Advance Payments by Borrowers for Taxes and Insurance

Advance payments by borrowers for taxes and insurance have no stated maturity; the fair value is equal to the amount currently payable.

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

The estimated fair values of the Company’s significant financial instruments at December 31, 2016 and 2015, are presented in the following table (in thousands):

	December 31, 2016
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	96,085	$	96,085	$	—	$	—	$	96,085
Trading securities	7,857		7,857		—		—		7,857
Securities available-for-sale	498,897		271		498,626		—		498,897
Securities held-to-maturity	10,148		—		10,118		—		10,118
FHLB of New York stock, at cost	25,123		—		25,123		—		25,123
Net loans held-for-investment	2,943,489		—		—		2,970,438		2,970,438
Financial liabilities:
Deposits	$	2,713,587	$	—	$	2,720,176	$	—	$	2,720,176
Repurchase agreements and other borrowings	473,206		—		472,387		—		472,387
Advance payments by borrowers	12,331		—		12,331		—		12,331

	December 31, 2015
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	51,853	$	51,853	$	—	$	—	$	51,853
Trading securities	6,713		6,713		—		—		6,713
Securities available-for-sale	541,595		481		541,114		—		541,595
Securities held-to-maturity	10,346		—		10,369		—		10,369
FHLB of New York stock, at cost	25,803		—		25,803		—		25,803
Net loans held-for-investment	2,348,945		—		—		2,375,028		2,375,028
Financial liabilities:
Deposits	$	2,052,929	$	—	$	2,058,894	$	—	$	2,058,894
Repurchase agreements and other borrowings	558,129		—		557,537		—		557,537
Advance payments by borrowers	10,862		—		10,862		—		10,862

Limitations

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument.  These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument.  Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors.  These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with a high degree of precision.  Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

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Notes to Consolidated Financial Statements - (Continued)

(15) Stock Repurchase Program

All of the Company's share repurchase programs permit shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The number of shares remaining to be purchased is calculated utilizing the remaining approved repurchase amount divided by the closing price of the stock on that day. There were no shares remaining to be purchased at December 31, 2016 or 2015.

On May 27, 2015, the Company’s Board of Directors authorized an increase to its stock repurchase plan in the amount of up to $15.0 million.

During 2014, the Company's Board of Directors authorized the repurchase of up to $170.0 million of the Company's common stock.

(16) Earnings Per Share

The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share for the periods indicated (in thousands, except share data):  

	December 31,
	2016		2015		2014
Net income available to common stockholders	$	26,130	$	19,531	$	20,266
Weighted average shares outstanding-basic	44,374,389		42,285,712		49,006,129
Effect of non-vested restricted stock and stock options outstanding	1,343,498		1,192,769		1,026,130
Weighted average shares outstanding-diluted	45,717,887		43,478,481		50,032,259
Earnings per share-basic	$	0.59	$	0.46	$	0.41
Earnings per share-diluted	$	0.57	$	0.45	$	0.41
Anti-dilutive shares	777,733		2,679,507		1,471,303

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

(17) Parent-only Financial Information

The following condensed parent company only financial information reflects Northfield Bancorp, Inc.’s investment in its wholly-owned consolidated subsidiary, Northfield Bank, using the equity method of accounting. 

Northfield Bancorp, Inc.

Condensed Balance Sheets

	December 31,
	2016		2015
	(in thousands)
Assets
Cash in Northfield Bank	$	8,953	$	22,504
Interest-earning deposits in other financial institutions	21		21
Investment in Northfield Bank	588,856		511,283
ESOP loan receivable	25,043		26,012
Other assets	118		516
Total assets	$	622,991	$	560,336
Liabilities and Stockholders' Equity
Total liabilities	$	1,795	$	557
Total stockholders' equity	621,196		559,779
Total liabilities and stockholders' equity	$	622,991	$	560,336

Northfield Bancorp, Inc.

Condensed Statements of Comprehensive Income (Loss)

	Years Ended
	December 31,
	2016			2015			2014
	(in thousands)
Interest on ESOP loan	$	913		$	875		$	903
Interest income on deposit in Northfield Bank	31			51			251
Gain (loss) on securities transactions, net	4			(4		)	(2		)
Undistributed earnings of Northfield Bank	26,303			19,718			20,331
Total income	27,251			20,640			21,483
Other expenses	936			891			956
Income tax expense	185			218			261
Total expense	1,121			1,109			1,217
Net income	$	26,130		$	19,531		$	20,266
Comprehensive income:
Net income	$	26,130		$	19,531		$	20,266
Other comprehensive (loss) income, net of tax	(1,346		)	(2,221		)	3,885
Comprehensive income	$	24,784		$	17,310		$	24,151

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

Northfield Bancorp, Inc.

Condensed Statements of Cash Flows

	December 31,
	2016			2015			2014
	(in thousands)
Cash flows from operating activities
Net income	$	26,130		$	19,531		$	20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in other assets	(1,998		)	(453		)	(969		)
Increase (decrease) in other liabilities	1,238			377			(362		)
Undistributed earnings of Northfield Bank	(26,303		)	(19,718		)	(20,329		)
Net cash used in operating activities	(933		)	(263		)	(1,394		)
Cash flows from investing activities
Cash consideration paid for business acquisition	(13,644		)	—			—
Dividends from Northfield Bank	14,700			25,900			66,274
Net cash provided by investing activities	1,056			25,900			66,274
Cash flows from financing activities
Principal payments on ESOP loan receivable	969			922			865
Purchase of treasury stock	(2,201		)	(48,446		)	(138,702		)
Dividends paid	(14,074		)	(12,184		)	(12,884		)
Exercise of stock options	120			158			212
Additional tax benefit on stock awards	1,512			122			390
Net cash used in financing activities	(13,674		)	(59,428		)	(150,119		)
Net decrease in cash and cash equivalents	(13,551		)	(33,791		)	(85,239		)
Cash and cash equivalents at beginning of year	22,525			56,316			141,555
Cash and cash equivalents at end of year	$	8,974		$	22,525		$	56,316

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NORTHFIELD BANCORP, INC.  AND SUBSIDIARIES

Notes to Consolidated Financial Statements - (Continued)

(18)        Selected Quarterly Financial Data (Unaudited)

The following tables are a summary of certain quarterly financial data for the years endedDecember 31, 2016and2015:

	2016 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	30,169		$	31,168	$	31,525	$	32,110
Interest expense	5,441			5,527		5,274		5,426
Net interest income	24,728			25,641		26,251		26,684
Provision (recoveries) for loan losses	(131		)	14		472		280
Net interest income after provision for loan losses	24,859			25,627		25,779		26,404
Other income	2,229			2,533		2,667		2,643
Other expenses	21,499			17,494		17,377		16,576
Income before income tax  expense	5,589			10,666		11,069		12,471
Income tax  expense	1,929			3,681		3,782		4,273
Net income	$	3,660		$	6,985	$	7,287	$	8,198
Net income per basic common share	$	0.08		$	0.16	$	0.16	$	0.18
Net income per diluted common share	$	0.08		$	0.15	$	0.16	$	0.18
	2015 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	24,753		$	25,037	$	25,570	$	26,398
Interest expense	4,769			4,752		4,997		5,170
Net interest income	19,984			20,285		20,573		21,228
Provision (recoveries) for loan losses	200			72		200		(119		)
Net interest income after provision for loan losses	19,784			20,213		20,373		21,347
Other income	2,104			2,006		1,666		2,122
Other expenses	14,300			14,514		14,847		14,448
Income before income tax  expense	7,588			7,705		7,192		9,021
Income tax  expense	2,586			3,410		2,515		3,464
Net income	$	5,002		$	4,295	$	4,677	$	5,557
Net income per basic common share	$	0.11		$	0.10	$	0.11	$	0.13
Net income per diluted common share	$	0.11		$	0.10	$	0.11	$	0.13

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTINGAND FINANCIAL DISCLOSURE

None

ITEM 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

John W. Alexander, our Chairman and Chief Executive Officer, and William R. Jacobs, our Chief Financial Officer, conducted an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) or (the Exchange Act) as of December 31, 2016.  Based upon their evaluation, they each found that our disclosure controls and procedures were effective.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the fourth quarter of 2016 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting and we identified no material weaknesses requiring corrective action with respect to those controls.

Management Report on Internal Control Over Financial Reporting

Management of the Company is responsible for establishing and maintaining effective internal control over financial reporting as such term is defined in Rule 13a-15(f) of the Exchange Act.  The Company’s internal control system is a process designed to provide reasonable assurance to the Company’s management and board of directors regarding the preparation and fair presentation of published financial statements.

Our internal control over financial reporting includes policies and procedures that pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets; provide reasonable assurances that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the directors of the Company; and provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on our financial statements.

All internal control systems, no matter how well designed, have inherent limitations.  Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2016.  In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013).  Based on our assessment we believe that, as of December 31, 2016, the Company’s internal control over financial reporting is effective based on those criteria.

The Company’s independent registered public accounting firm that audited the consolidated financial statements has issued an audit report on the effectiveness of the Company’s internal control over financial reporting as of December 31, 2016, and it is included in Item 8, under Part II of this Annual Report on Form 10-K.  This report appears on page 70 of this document.

ITEM 9B. OTHER INFORMATION

None

126

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The sections of the Company’s definitive proxy statement for the Company’s 2017 Annual Meeting of the Stockholders (the “2017 Proxy Statement”) entitled “Proposal I-Election of Directors,” “Corporate Governance and Board Matters-Director and Director Nominee Evaluation Process,” “Executive Officers who are not Directors” “Other Information-Section 16(a) Beneficial Ownership Reporting Compliance,” “Corporate Governance and Board Matters - Codes of Conduct and Ethics,” “Stockholder Communications,” and “Board of Directors, Leadership Structure, Role in Risk Oversight, Meetings and Standing Committees-Audit Committee” are incorporated herein by reference.

A copy of the Code of Conduct and Ethics for Employees, Officers, and Directors and the Code of Conduct and Ethics for Senior Financial Officers is available to shareholders under the investor relations tab on the Company's website at www.enorthfield.com.

ITEM 11. EXECUTIVE COMPENSATION

The sections of the Company’s 2017 Proxy Statement entitled “Corporate Governance and Board Matters-Director Compensation” and “Executive Compensation” are incorporated herein by reference.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The section of the Company’s 2017 Proxy Statement entitled “Voting Securities and Principal Holders Thereof”, is incorporated herein by reference.

Set forth below is information as of December 31, 2016, with respect to compensation plans (other than our employee stock ownership plan) under which equity securities of the Company are authorized for issuance:

	Equity Compensation Plan Information
	Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights	Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights(1)		Number of Securities Remaining Available for Future Issuance Under Stock-Based Compensation Plans (Excluding Securities Reflected in First Column)
Equity compensation plans approved by security holders	5,328,670	$	11.36	294,539
Equity compensation plans not approved by security holders	N/A	N/A		N/A
Total	5,328,670	$	11.36	294,539

⁽¹⁾ Represents the weighted average exercise price of outstanding options at December 31, 2016.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The sections of the Company’s 2017 Proxy Statement entitled “Corporate Governance and Board Matters-Transactions with Certain Related Persons” and “Board of Directors, Leadership Structure, Role in Oversight, Meetings and Standing Committees - Board of Directors” are incorporated herein by reference.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

The sections of the Company’s 2017 Proxy Statement entitled “Audit-Related Matters-Policy for Approval of Audit and Permitted Non-audit Services” and “Auditor Fees and Services” are incorporated herein by reference.

127

PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a)(1)  Financial Statements

The following documents are filed as part of this Form 10-K.

(A) Reports of Independent Registered Public Accounting Firm

(B) Consolidated Balance Sheets - at December 31, 2016, and 2015

(C) Consolidated Statements of Comprehensive Income - Years ended December 31, 2016, 2015, and 2014

(D) Consolidated Statements of Changes in Stockholders’ Equity - Years ended December 31, 2016, 2015, and 2014

(E) Consolidated Statements of Cash Flows - Years ended December 31, 2016, 2015, and 2014

(F) Notes to Consolidated Financial Statements.

(a)(2) Exhibits

3.1	Certificate of Incorporation of Northfield Bancorp, Inc. (4)
3.2	Bylaws of Northfield Bancorp, Inc. (4)
4	Form of Common Stock Certificate of Northfield Bancorp, Inc.(4)
10.1	Amended Employment Agreement with Kenneth J. Doherty (10) †
10.2	Amended Employment Agreement with Steven M. Klein (10) †
10.3	Supplemental Executive Retirement Agreement with Albert J. Regen (1) †
10.4	Northfield  Bank 2015 Management Cash Incentive Compensation Plan (10) †
10.5	Short Term Disability and Long Term Disability for Senior Management (1) †
10.6	Northfield Bank Non-Qualified Deferred Compensation Plan (3) †
10.7	Northfield Bank Non-Qualified Supplemental Employee Stock Ownership Plan (3) †
10.8	Amended Employment Agreement with John W. Alexander (2) †
10.9	Amended Employment Agreement with Michael J. Widmer (2) †
10.10	Amendment to Northfield Bank Non-Qualified Deferred Compensation Plan (6) †
10.11	Amendment to Northfield Bank Non-Qualified Supplemental Employee Stock Ownership
	Plan (6) †
10.12	Northfield Bancorp, Inc. 2008 Equity Incentive Plan (5) †
10.13	Form of Director Non-Statutory Stock Option Award Agreement under the 2008 Equity Incentive
	Plan (6) †
10.14	Form of Director Restricted Stock Award Agreement under the 2008 Equity Incentive Plan (6) †
10.15	Form of Employee Non-Statutory Stock Option Award Agreement under the 2008 Equity
	Incentive Plan (6) †
10.16	Form of Employee Incentive Stock Option Award Agreement under the 2008 Equity Incentive
	Plan (6) †
10.17	Form of Employee Restricted Stock Award Agreement under the 2008 Equity Incentive
	Plan (6) †
10.18	Northfield Bancorp, Inc. Management Cash Incentive Plan (7) †
10.19	Group Term Replacement Plan (9) †
10.20	Intentionally omitted
10.21	Amended Employment Agreement with William R. Jacobs (10) †
10.22	Northfield Bancorp, Inc. 2014 Equity Incentive Plan (12) †
10.23	Form of Employee Stock Option Award Agreement under the 2014 Equity Incentive Plan with the Exception of John W. Alexander and Steven M. Klein (13) †
10.24	Form of Employee Stock Option Award Agreement under the 2014 Equity Incentive Plan with John W. Alexander and Steven M. Klein (13) †
10.25	Form of Director Non-Statutory Stock Option Award Agreement under the 2014 Equity Incentive Plan (13) †
10.26	Form of Employee Restricted Stock Award Agreement under the 2014 Equity Incentive Plan with the exception of John W. Alexander and Steven M. Klein (13) †

128

10.27	Form of Employee Restricted Stock Award Agreement under the 2014 Equity Incentive Plan with John W. Alexander and Steven M. Klein (13) †
10.28	Form of Director Restricted Stock Award Agreement under the 2014 Equity Incentive Plan (13) †
10.29	Form of amendment to restricted stock award and stock option agreements to participants of the 2014 Equity Incentive Plan (2) †
10.30	Form of Employee Stock Option Award Agreement under the 2014 Equity Incentive Plan with the Exception of John W. Alexander and Steven M. Klein (14) †
10.31	Form of Employee Stock Option Award Agreement under the 2014 Equity Incentive Plan with John W. Alexander and Steven M. Klein (14) †
10.32	Form of Director Non-Statutory Stock Option Award Agreement under the 2014 Equity Incentive Plan (14) †
10.33	Form of Employee Restricted Stock Award Agreement under the 2014 Equity Incentive Plan with the exception of John W. Alexander and Steven M. Klein (14) †
10.34	Form of Employee Restricted Stock Award Agreement under the 2014 Equity Incentive Plan with John W. Alexander and Steven M. Klein (14) †
10.35	Form of Director Restricted Stock Award Agreement under the 2014 Equity Incentive Plan (14) †
10.36	Consulting Agreement between Northfield Bank and Patrick L. Ryan (15) †
10.37	Northfield Bancorp, Inc. 2016 Management Cash Incentive Plan, Amended January 27, 2016 †(16)
10.38	Form of Amendment to Employment Agreement effective January 1, 2016, with John W. Alexander, Steven M. Klein, Kenneth J. Doherty, William R. Jacobs, and Michael J. Widmer † (16)
10.39	Northfield Bancorp, Inc. 2017 Management Cash Incentive Plan, Amended January 25, 2017 † (17)
21	Subsidiaries of Registrant (1)
23	Consent of KPMG LLP *
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
32	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
101	The following materials from the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Statements of Financial Condition, (ii) the Consolidated Statements of Comprehensive Income, (iii) the Consolidated Statements of Changes in Stockholders’ Equity, (iv) the Consolidated Statements of Cash Flows and (v) the Notes to Consolidated Financial Statements.

______________________

†     Management contract or compensation plan or arrangement.

*     Filed herewith. 

(1) Incorporated by reference to the Registration Statement on Form S-1 of Northfield Bancorp, Inc. (File No. 333-143643), originally filed with the Securities and Exchange Commission on June 11, 2007.

(2) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K, dated  December 17, 2014, filed with the Securities and Exchange Commission on December 23, 2014 (File Number 001-35791).

(3) Incorporated by reference to Northfield Bancorp Inc.’s Annual Report on Form 10-K, dated December 31, 2007, filed with the Securities and Exchange Commission on March 31, 2008 (File Number 001-33732).

(4) Incorporated by reference to the Registration Statement on Form S-1 of Northfield Bancorp, Inc. (File No. 333-181995), originally filed with the Securities and Exchange Commission on June 8, 2012.

(5) Incorporated by reference to Northfield Bancorp Inc.’s Proxy Statement Pursuant to Section 14(a) filed with the Securities and Exchange Commission on November 12, 2008 (File Number 001-33732).

(6) Incorporated by reference to Northfield Bancorp Inc.’s Annual Report on Form 10-K, dated December 31, 2008, filed with the Securities and Exchange Commission on March 16, 2009 (File Number 001-33732).

(7) Incorporated by reference to Appendix B of Northfield Bancorp Inc.’s Definitive Proxy Statement for the 2014 Annual Meeting of Stockholders (File No. 001-35791) as filed with the Securities and Exchange Commission on April 25, 2014.

129

(8) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K, dated March 25, 2009, filed with the Securities and Exchange Commission on March 27, 2009 (File Number 001-33732).

(9) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K, dated April 28, 2010, filed with the Securities and Exchange Commission on April 29, 2010 (File Number 001-33732).

(10) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K, dated January 28, 2015, filed with the Securities and Exchange Commission on February 2, 2015 (File Number 001-35791).

(11) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K, dated March 15, 2012, filed with the Securities and Exchange Commission on March 15, 2012 (File Number 001-33732).

(12) Incorporated by reference to Appendix A of Northfield Bancorp Inc.’s Definitive Proxy Statement for the 2014 Annual Meeting of Stockholders (File No. 001-35791) as filed with the Securities and Exchange Commission on April 25, 2014.

(13) Incorporated by reference to Northfield Bancorp Inc.’s Quarterly Report on Form 10-Q, dated June 30, 2014, filed with the Securities and Exchange Commission on August 11, 2014 (File Number 001-35791).

(14) Incorporated by reference to Northfield Bancorp Inc.’s Quarterly Report on Form 10-Q, dated June 30, 2015, filed with the Securities and Exchange Commission on August 10, 2015 (File Number 001-35791).

(15) Incorporated by reference to Northfield Bancorp Inc.’s Registration Statement on Form S-4/A, filed with the Securities and Exchange Commission on October 23, 2015 (File Number 333-207291)

(16) Incorporated by reference to Northfield Bancorp Inc.’s Annual Report on Form 10-K dated December 31, 2015, filed with the Securities and Exchange Commission on March 15, 2016 (File Number 001-35791).

(17) Incorporated by reference to Northfield Bancorp Inc.’s Current Report on Form 8-K dated January 25, 2017, filed with the Securities and Exchange Commission on January 30, 2017 (File Number 001-35791).

ITEM 16. FOR 10-K SUMMARY

Not Applicable

130

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NORTHFIELD BANCORP, INC.

Date:	March 16, 2017	By:	/s/ John W. Alexander
			John W. Alexander
			Chairman and Chief Executive Officer
			(Duly Authorized Representative)

Pursuant to the requirements of the Securities Exchange of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Signatures	Title	Date
/s/ John W. Alexander	Chairman and Chief Executive Officer (Principal Executive Officer)	March 16, 2017
John W. Alexander
/s/ William R. Jacobs	Chief Financial Officer (Principal Financial and Accounting Officer)	March 16, 2017
William R. Jacobs
/s/ Annette Catino	Director	March 16, 2017
Annette Catino
/s/ Gil Chapman	Director	March 16, 2017
Gil Chapman
/s/ John P. Connors, Jr	Director	March 16, 2017
John P. Connors, Jr.
/s/ Timothy C. Harrison	Director	March 16, 2017
Timothy C. Harrison
/s/ Karen J. Kessler	Director	March 16, 2017
Karen J. Kessler
/s/ Steven M. Klein	Director	March 16, 2017
Steven M. Klein
/s/ Susan Lamberti	Director	March 16, 2017
Susan Lamberti
/s/ Patrick L. Ryan	Director	March 16, 2017
Patrick Ryan
/s/ Frank P. Patafio	Director	March 16, 2017
Frank P. Patafio
/s/ Patrick E. Scura, Jr.	Director	March 16, 2017
Patrick E. Scura, Jr.

131

EX-23

Exhibit 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors

Northfield Bancorp, Inc. and subsidiaries:

We consent to the incorporation by reference in the registration statements Nos. 333-186270 and 333-203132 on Form S-8, of Northfield Bancorp, Inc., of our reports dated March 16, 2017, with respect to the consolidated balance sheets of Northfield Bancorp, Inc. and subsidiaries (the Company) as of December 31, 2016 and 2015 and the related consolidated statements of comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2016, and the effectiveness of internal control over financial reporting as of December 31, 2016, which reports appear in the December 31, 2016 annual report on Form 10-K of the Company.

/s/ KPMG LLP

Short Hills, New Jersey

March 16, 2017

EX-31.1

Exhibit 31.1

Certification of Chief Executive Officer

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

I, John W. Alexander, certify that: 

1. I have reviewed this Annual Report on Form 10-K of Northfield Bancorp, Inc.;

2. Based on my knowledge, this 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 report;

3. Based on my knowledge, the financial statements, and other financial information included in this 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 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-l5(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 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 report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this 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; and

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 the 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:	March 16, 2017
/s/ John W. Alexander
John W. Alexander
Chairman and Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification of Chief Financial Officer

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

I, William R. Jacobs, certify that: 

1. I have reviewed this Annual Report on Form 10-K of Northfield Bancorp, Inc.;

2. Based on my knowledge, this 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 report;

3. Based on my knowledge, the financial statements, and other financial information included in this 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 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-l5(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 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 report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this 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; and

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 the 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:	March 16, 2017
/s/ William R. Jacobs
William R. Jacobs
Chief Financial Officer
(Principal Financial and Accounting 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

John W. Alexander, Chairman and Chief Executive Officer, and William R. Jacobs, Chief Financial Officer, of Northfield Bancorp, Inc. (the Company) each certify in his capacity as an officer of the Company that he has reviewed the Annual Report of the Company on Form 10-K for the year ended December 31, 2016 (the Report) and that to the best of his knowledge:

A. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and

B. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John W. Alexander	Dated:	March 16, 2017
John W. Alexander
Chairman and Chief Executive Officer

/s/ William R. Jacobs	Dated:	March 16, 2017
William R. Jacobs
Chief Financial Officer
(Principal Financial and Accounting Officer)

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Entity Registrant Name	Northfield Bancorp, Inc.
Entity Central Index Key	0001493225
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		48,843,879
Entity Current Reporting Status	Yes
Entity Public Float			$ 615,976,344
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS:
Cash and due from banks	$ 18,412	$ 15,324
Interest-bearing deposits in other financial institutions	77,673	36,529
Total cash and cash equivalents	96,085	51,853
Trading securities	7,857	6,713
Securities available-for-sale, at estimated fair value (encumbered $11,786 at December 31, 2016, and $65,051 at December 31, 2015)	498,897	541,595
Securities held-to-maturity, (estimated fair value of $10,118 at December 31, 2016, and $10,369 at December 31, 2015) (encumbered $2,108 at December 31, 2016, and $5,619 at December 31, 2015)	10,148	10,346
Originated loans held-for-investment, net	2,144,346	1,931,585
Loans acquired	793,240	409,015
Purchased credit-impaired (PCI) loans held-for-investment	30,498	33,115
Loans held-for-investment, net	2,968,084	2,373,715
Allowance for loan losses	(24,595)	(24,770)
Net loans held-for-investment	2,943,489	2,348,945
Accrued interest receivable	9,714	8,263
Bank owned life insurance	148,047	132,782
Federal Home Loan Bank (FHLB) of New York stock, at cost	25,123	25,803
Premises and equipment, net	26,910	23,643
Goodwill	38,411	16,159
Other real estate owned	850	45
Other assets	44,563	36,437
Total assets	3,850,094	3,202,584
LIABILITIES:
Deposits	2,713,587	2,052,929
Securities sold under agreements to repurchase	8,000	63,000
Other borrowings	465,206	495,129
Advance payments by borrowers for taxes and insurance	12,331	10,862
Accrued expenses and other liabilities	29,774	20,885
Total liabilities	3,228,898	2,642,805
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 25,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value: 150,000,000 shares authorized, 60,933,707 and 58,226,326 shares issued at December 31, 2016 and 2015, respectively, 48,526,658 and 45,565,540 outstanding at December 31, 2016 and 2015, respectively	609	582
Additional paid-in-capital	547,910	501,540
Unallocated common stock held by employee stock ownership plan	(23,466)	(24,664)
Retained earnings	268,226	256,170
Accumulated other comprehensive loss	(4,332)	(2,986)
Treasury stock at cost; 12,407,049 and 12,660,786 shares at December 31, 2016 and 2015, respectively	(167,751)	(170,863)
Total stockholders’ equity	621,196	559,779
Total liabilities and stockholders’ equity	$ 3,850,094	$ 3,202,584

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Available for sale securities encumbered	$ 11,786	$ 65,051
Estimated fair value of securities held to maturity	10,118	10,369
Held to maturity securities encumbered	$ 2,108	$ 5,619
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	25,000,000	25,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock, shares issued (shares)	60,933,707	58,226,326
Common stock, shares outstanding (shares)	48,526,658	45,565,540
Treasury stock, shares (shares)	12,407,049	12,660,786

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest income:
Loans	$ 111,776	$ 87,179	$ 73,407
Mortgage-backed securities	10,832	12,982	16,861
Other securities	908	328	604
FHLB of New York dividends	1,171	1,149	772
Deposits in other financial institutions	285	120	57
Total interest income	124,972	101,758	91,701
Interest expense:
Deposits	14,287	10,423	5,391
Borrowings	7,381	9,265	9,961
Total interest expense	21,668	19,688	15,352
Net interest income	103,304	82,070	76,349
Provision for loan losses	635	353	645
Net interest income after provision for loan losses	102,669	81,717	75,704
Non-interest income:
Fees and service charges for customer services	4,934	3,945	4,073
Income on bank owned life insurance	3,998	3,767	3,902
Gains/(losses) on securities transactions, net	813	(339)	227
Other	327	525	258
Total non-interest income	10,072	7,898	8,460
Non-interest expense:
Compensation and employee benefits	39,780	29,760	26,195
Occupancy	11,411	10,039	9,616
Furniture and equipment	1,421	1,428	1,636
Data processing	6,054	3,802	3,680
Professional fees	3,461	3,037	2,458
Federal Deposit Insurance Corporation (FDIC) insurance	1,494	1,550	1,306
Other	9,325	8,493	7,151
Total non-interest expense	72,946	58,109	52,042
Income before income tax expense	39,795	31,506	32,122
Income tax expense	13,665	11,975	11,856
Net income	$ 26,130	$ 19,531	$ 20,266
Net income per common share:
Net income per common share-basic (usd per share)	$ 0.59	$ 0.46	$ 0.41
Net income per common share-diluted (usd per share)	$ 0.57	$ 0.45	$ 0.41
Basic weighted average shares outstanding (in shares)	44,374,389	42,285,712	49,006,129
Diluted weighted average shares outstanding (in shares)	45,717,887	43,478,481	50,032,259
Net income	$ 26,130	$ 19,531	$ 20,266
Unrealized (losses) gains on securities:
Net unrealized holding (losses) gains on securities	(2,202)	(3,676)	8,535
Less: reclassification adjustment for net gains included in net income (included in gains (losses) on securities transactions, net)	(306)	(57)	(382)
Net unrealized (losses) gains	(2,508)	(3,733)	8,153
Post-retirement benefits adjustment	244	21	(1,689)
Other comprehensive (loss) income, before tax	(2,264)	(3,712)	6,464
Income tax benefit (expense) related to net unrealized holding (losses) gains on securities	894	1,476	(3,408)
Income tax expense related to reclassification adjustment for gains included in net income	122	23	153
Income tax (expense) benefit related to post retirement benefits adjustment	(98)	(8)	676
Other comprehensive (loss) income, net of tax	(1,346)	(2,221)	3,885
Comprehensive income	$ 24,784	$ 17,310	$ 24,151

XML

Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Unallocated Common Stock Held by the Employee Stock Ownership Plan	Retained Earnings	Accumulated Other Comprehensive Income (loss) Net of tax	Treasury Stock
Beginning Balance at Dec. 31, 2013	$ 716,108	$ 582	$ 508,609	$ (26,985)	$ 242,180	$ (4,650)	$ (3,628)
Beginning Balance, shares at Dec. 31, 2013		57,926,233
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,266				20,266
Other comprehensive income, net of tax	3,885					3,885
Employee Stock Ownership Plan (ESOP) shares allocated or committed to be released	1,848		645	1,203
Stock compensation expense	2,805		2,805
Additional tax benefit on equity awards	390		390
Net issuance of restricted stock	0		(12,633)				12,633
Issuance of restricted stock, shares		991,200
Exercise of stock options, net	212		(210)		(654)		1,076
Exercise of stock options, shares		146,833
Cash dividends declared	(12,884)				(12,884)
Treasury stock	(138,702)						(138,702)
Treasury stock, shares		(10,662,183)
Ending Balance at Dec. 31, 2014	593,928	$ 582	499,606	(25,782)	248,908	(765)	(128,621)
Ending Balance, shares at Dec. 31, 2014		48,402,083
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,531				19,531
Other comprehensive income, net of tax	(2,221)					(2,221)
Employee Stock Ownership Plan (ESOP) shares allocated or committed to be released	2,128		1,010	1,118
Stock compensation expense	6,763		6,763
Additional tax benefit on equity awards	122		122
Net issuance of restricted stock	0		(5,190)				5,190
Issuance of restricted stock, shares		387,280
Exercise of stock options, net	$ 158		(771)		(85)		1,014
Exercise of stock options, shares	143,171	81,789
Cash dividends declared	$ (12,184)				(12,184)
Treasury stock	(48,446)						(48,446)
Treasury stock, shares		(3,305,612)
Ending Balance at Dec. 31, 2015	559,779	$ 582	501,540	(24,664)	256,170	(2,986)	(170,863)
Ending Balance, shares at Dec. 31, 2015		45,565,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,130				26,130
Other comprehensive income, net of tax	(1,346)					(1,346)
Employee Stock Ownership Plan (ESOP) shares allocated or committed to be released	2,291		1,093	1,198
Stock compensation expense	7,264		7,264
Additional tax benefit on equity awards	1,512		1,512
Net issuance of restricted stock	0		(198)				198
Issuance of restricted stock, shares		7,720
Exercise of stock options, net	$ 120		(4,995)				5,115
Exercise of stock options, shares	690,671	383,233
Cash dividends declared	$ (14,074)				(14,074)
Treasury stock	(2,201)						(2,201)
Treasury stock, shares		(137,216)
Acquisition of Hopewell Valley Community Bank	41,721	$ 27	41,694
Acquisition of Hopewell Valley Community Bank, shares		2,707,381
Ending Balance at Dec. 31, 2016	$ 621,196	$ 609	$ 547,910	$ (23,466)	$ 268,226	$ (4,332)	$ (167,751)
Ending Balance, shares at Dec. 31, 2016		48,526,658

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Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Dividends declared (usd per share)	$ 0.31	$ 0.28	$ 0.26
Average cost of treasury stock (usd per share)	$ 16.04	$ 14.66	$ 13.00

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Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 26,130	$ 19,531	$ 20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	635	353	645
ESOP and stock compensation expense	9,555	8,891	4,653
Depreciation	3,591	3,385	3,640
Amortization of premiums, and deferred loan costs, net of (accretion) of discounts, and deferred loan fees	2,226	1,800	1,695
Amortization of intangible assets	447	210	416
Income on bank owned life insurance	(3,998)	(3,767)	(3,902)
Gain on sale of premises and equipment and other real estate owned, net	0	(282)	0
Net gain on sale of loans held-for-sale	0	(4)	(79)
Proceeds from sale of loans held-for-sale	0	2,392	1,707
Origination of loans held-for-sale	0	(2,388)	(1,157)
(Gains) losses on securities transactions, net	(813)	339	(227)
Net purchases of trading securities	(637)	(687)	(579)
Decrease (increase) in accrued interest receivable	1	(248)	122
Decrease (increase) in other assets	3,052	3,359	(2,948)
Deferred taxes	(3,059)	(1,632)	(1,167)
Increase in accrued expenses and other liabilities	571	1,059	2,625
Net cash provided by operating activities	37,701	32,311	25,710
Cash flows from investing activities:
Net increase in loans receivable	(87,514)	(246,562)	(267,912)
Purchase of loans	(167,345)	(186,876)	(186,475)
Purchase of FHLB of New York stock	(9,497)	(11,001)	(20,138)
Redemption of FHLB of New York stock	10,653	14,417	8,435
Purchases of securities available-for-sale	(105,860)	0	(436)
Principal payments and maturities on securities available-for-sale	162,594	173,923	161,650
Principal payments and maturities on securities held-to-maturity	181	870	442
Purchases of securities held-to-maturity	0	(7,657)	(4,066)
Proceeds from sale of securities available-for-sale	44,582	51,148	11,975
Proceeds from sale of premises and equipment and other real estate owned	45	918	418
Purchases and improvements of premises and equipment	(932)	(802)	(809)
Net cash acquired in business combinations	55,479	0	0
Net cash used in investing activities	(97,614)	(211,622)	(296,916)
Cash flows from financing activities:
Net increase in deposits	204,455	432,264	127,976
Dividends paid	(14,074)	(12,184)	(12,884)
Exercise of stock options	120	158	212
Purchase of treasury stock	(2,201)	(48,446)	(138,702)
Additional tax benefit on equity awards	1,512	122	390
Increase in advance payments by borrowers for taxes and insurance	1,469	3,070	1,351
Repayments under capital lease obligations	(204)	(179)	(272)
Proceeds from securities sold under agreements to repurchase and other borrowings	228,978	250,314	821,373
Repayments related to securities sold under agreements to repurchase and other borrowings	(315,910)	(470,664)	(512,768)
Net cash provided by financing activities	104,145	154,455	286,676
Net increase (decrease) in cash and cash equivalents	44,232	(24,856)	15,470
Cash and cash equivalents at beginning of period	51,853	76,709	61,239
Cash and cash equivalents at end of period	96,085	51,853	76,709
Supplemental cash flow information:
Interest	22,037	19,738	15,002
Income taxes	14,415	10,800	16,696
Non-cash transactions:
Loans charged-off, net	810	1,875	390
Transfers of loans to other real estate owned	850	0	860
Other real estate owned write-downs	0	71	305
Securities available-for-sale	61,633	0	0
Loans	342,566	0	0
Accrued interest receivable	1,452	0	0
Bank owned life insurance	11,269	0	0
Premises and equipment	5,926	0	0
Federal Home Loan Bank of New York stock	476	0	0
Goodwill and other intangible assets	24,265
Other assets	5,389	0	0
Total non-cash assets acquired	452,976	0	0
Deposits	456,203	0	0
Borrowings	2,213	0	0
Other liabilities	8,318	0	0
Total non-cash liabilities assumed	466,734	0	0
Net non-cash assets acquired	(13,758)	0	0
Net cash and cash equivalents acquired	55,479	0	0
Common stock issued in acquisition	$ 41,721	$ 0	$ 0

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Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary ofSignificantAccounting Policies

The following significant accounting and reporting policies of Northfield Bancorp, Inc. and subsidiaries (collectively, the “Company”), conform to U.S. generally accepted accounting principles (“U.S. GAAP”), and are used in preparing and presenting these consolidated financial statements.

(a)    Plan of Conversion and Reorganization

On June 6, 2012, the Board of Trustees of Northfield Bancorp, MHC (MHC) and the Board of Directors of the Company adopted a Plan of Conversion and Reorganization (the Plan).  Pursuant to the Plan, the MHC converted from the mutual holding company form of organization to the fully public form on January 24, 2013.  The MHC merged into the Company, and the MHC no longer exists.  The Company merged into a new Delaware corporation named Northfield Bancorp, Inc.  As part of the conversion, the MHC’s ownership interest of the Company was offered for sale in a public offering.  The existing publicly held shares of the Company, which represented the remaining ownership interest in the Company, were exchanged for new shares of common stock of Northfield Bancorp, Inc., the new Delaware corporation.  The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of the Company owned the same aggregate percentage of Northfield Bancorp., Inc. common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares).  When the conversion and public offering was completed, all of the capital stock of Northfield Bank was owned by Northfield Bancorp, Inc., the Delaware corporation.

The Plan provided for the establishment of special “liquidation accounts” for the benefit of certain depositors of Northfield Bank (the “Bank”) in an amount equal to the greater of the MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus or the retained earnings of Northfield Bank at the time it reorganized into the MHC.  Following the completion of the conversion, under the rules of the Board of Governors of the Federal Reserve System, Northfield Bank is not permitted to pay dividends on its capital stock to Northfield Bancorp, Inc., its sole shareholder, if Northfield Bank’s shareholder’s equity would be reduced below the amount of the liquidation accounts.  The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits.  Subsequent increases in qualifying deposits will not restore an eligible account holder’s interest in the liquidation accounts.

Direct costs of the conversion and public offering were deferred and reduced the proceeds from the shares sold in the public offering.  Costs of $11.5 million were incurred related to the conversion.

(b)    Basis of Presentation

The consolidated financial statements are comprised of the accounts of Northfield Bancorp, Inc. and its wholly owned subsidiaries, Northfield Investment, Inc. and the Bank, and the Bank’s wholly-owned significant subsidiaries, NSB Services Corp. and NSB Realty Trust.  All significant intercompany accounts and transactions have been eliminated in consolidation.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheets and revenues and expenses during the reporting periods.  Actual results may differ significantly from those estimates and assumptions.  A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses.  In connection with the determination of this allowance, management generally obtains independent appraisals for significant properties.  In addition, judgments related to the amount and timing of expected cash flows from PCI loans, goodwill, securities valuation and impairment, and deferred income taxes, involve a higher degree of complexity and subjectivity and require estimates and assumptions about highly uncertain matters.  Actual results may differ from the estimates and assumptions. 

Certain prior years' amounts have been reclassified to conform to the current year presentation.

(c)    Business

The Company, through its principal subsidiary, the Bank, provides a full range of banking services primarily to individuals and corporate customers in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey.  The Company is subject to competition from other financial institutions and to the regulations of certain federal and state agencies, and undergoes periodic examinations by those regulatory authorities.

(d)    Cash Equivalents

Cash equivalents consist of cash on hand, due from banks, and interest-bearing deposits in other financial institutions with an original term of three months or less. 

(e)    Securities

Securities are classified at the time of purchase, based on management’s intention, as securities held-to-maturity, securities available-for-sale, or trading account securities.  Securities held-to-maturity are those that management has the positive intent and ability to hold until maturity.  Securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments.  Securities available-for-sale represents all securities not classified as either held-to-maturity or trading.  Securities available-for-sale are carried at estimated fair value with unrealized holding gains and losses (net of related tax effects) on such securities excluded from earnings, but included as a separate component of stockholders’ equity, titled “Accumulated other comprehensive income (loss).”  The cost of securities sold is determined using the specific-identification method.  Security transactions are recorded on a trade-date basis. Trading securities are securities that are bought and may be held for the purpose of selling them in the near term.  Trading securities are reported at estimated fair value, with unrealized holding gains and losses reported as a component of gain (loss) on securities transactions, net in non-interest income.

Our evaluation of other-than-temporary impairment considers our assessments of the reason for the decline in value, the duration and severity of the impairment, our intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and our intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis.  If a determination is made that a debt security is other-than-temporarily impaired, the Company will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors.  If we intend to hold securities in an unrealized loss position until the loss is recovered, which may be at maturity, the credit related component will be recognized as an other-than-temporary impairment charge in non-interest income.  The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax.  The estimated fair value of debt securities, including mortgage-backed securities and corporate debt obligations is furnished by an independent third-party pricing service.  The third-party pricing service primarily utilizes pricing models and methodologies that incorporate observable market inputs, including among other things, benchmark yields, reported trades, and projected prepayment and default rates.  Management reviews the data and assumptions used in pricing the securities by its third-party provider for reasonableness.   

(f)    Loans

The accounting and reporting for PCI loans and loans classified as held-for-sale differs substantially from those loans originated and classified by the Company as held-for-investment.  For purposes of reporting, discussion and analysis, management has classified its loan portfolio into four categories:  (1) loans originated by the Company and held-for-sale, which are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore have no associated allowance for loan losses, (2) PCI loans, which are held-for-investment, and initially valued at estimated fair value on the date of acquisition, with no initial related allowance for loan losses, (3) originated loans held-for-investment, which are carried at amortized cost, less net charge-offs and the allowance for loan losses, and (4) acquired loans with no evidence of credit deterioration, which are held-for-investment, and initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses.

Originated and acquired net loans held-for-investment are stated at unpaid principal balance, adjusted by unamortized premiums and unearned discounts, deferred origination fees and certain direct origination costs, and the allowance for loan losses.  Interest income on loans is accrued and credited to income as earned.  Net loan origination fees/costs are deferred and accreted/amortized to interest income over the loan’s contractual life using the level-yield method, adjusted for actual prepayments.  Generally, loans held-for-sale are designated at time of origination and generally consist of  newly originated fixed rate residential loans and are recorded at the lower of aggregate cost or estimated fair value in the aggregate.  Transfers of loans from held-for-investment to held-for-sale are infrequent and occur at fair value less costs to sell, with any charge-off to allowance for loan losses. Gains are recognized on a settlement-date basis and are determined by the difference between the net sales proceeds and the carrying value of the loans, including any net deferred fees or costs.

Originated and acquired net loans held-for-investment are deemed impaired when it is probable, based on current information, that the Company will not collect all amounts due in accordance with the contractual terms of the loan agreement.  The Company has defined the population of originated and acquired impaired loans to be all originated and acquired non-accrual loans held-for-investment with an outstanding balance of $500,000 or greater and all loans restructured in troubled debt restructurings (TDRs).  Originated and acquired impaired loans held-for-investment are individually assessed to determine that the loan’s carrying value is not in excess of the expected future cash flows, discounted at the loan's original effective interest rate, or the fair value of the underlying collateral (less estimated costs to sell) if the loan is collateral dependent.  Impairments, if any, are recognized through a charge to the allowance for loan losses for the amount that the loan’s carrying value exceeds the discounted cash flow analysis or estimated fair value of collateral (less estimated costs to sell) if the loan is collateral dependent.  Such amounts are charged-off when considered appropriate.  

The allowance for loan losses is increased by the provision for loan losses charged against income and is decreased by charge-offs, net of recoveries.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, if it is determined that it is probable that recovery will come primarily from the sale or operation of such collateral.  Specific reserves on impaired loans that are not considered collateral dependent are charged-off when such amounts are not considered to be collectible.  The provision for loan losses is based on management’s evaluation of the adequacy of the allowance that considers, among other things, impaired loans held-for-investment, deterioration in PCI loans subsequent to acquisition, past loan loss experience, known and inherent risks in the portfolio, and existing adverse situations that may affect borrowers’ ability to repay.  Additionally, management evaluates changes, if any, in underwriting standards, collection, charge-off and recovery practices, the nature or volume of the portfolio, lending staff, concentration of loans, as well as current economic conditions, and other relevant factors.  Management believes the allowance for loan losses is adequate to provide for probable and reasonably estimable incurred losses at the date of the consolidated balance sheets.  The Company also maintains an allowance for estimated losses on off-balance sheet credit risks related to loan commitments and standby letters of credit.  Management utilizes a methodology similar to its allowance for loan loss adequacy methodology to estimate losses on these commitments.  The allowance for estimated credit losses on off-balance sheet commitments is included in other liabilities and any changes to the allowance are recorded as a component of other non-interest expense.

While management uses available information to estimate probable and reasonably estimable incurred losses on loans, future additions may be necessary based on changes in conditions, including changes in economic conditions, particularly in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey and to a lesser extent eastern Pennsylvania.  Accordingly, as with most financial institutions in the market area, the ultimate collectability of a substantial portion of the Company’s loan portfolio is susceptible to changes in conditions in the Company’s marketplace.  In addition, future changes in laws and regulations could make it more difficult for the Company to collect all contractual amounts due on its loans and mortgage-backed securities.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses.  Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

TDRs are loans where terms have been modified because of deterioration in the financial condition of the borrower.  Modifications could include extension of the repayment terms of the loan, reduced interest rates, or forgiveness of accrued interest and/or principal.  Once an obligation has been restructured because of such credit problems, it continues to be considered restructured until paid in full or, if the obligation yields a market rate (a rate equal to the rate the Company was willing to accept at the time of the restructuring for a new loan with comparable risk), until the year subsequent to the year in which the restructuring takes place, provided the borrower has performed under the modified terms for a six-month period.  The Company records an impairment charge equal to the difference between the present value of estimated future cash flows under the restructured terms discounted at the original loan’s effective interest rate, or the underlying collateral value less costs to sell, if the loan is collateral dependent.  Changes in present values attributable to the passage of time are recorded as a component of the provision for loan losses. 

A loan is considered past due when it is not paid in accordance with its contractual terms.  The accrual of income on loans, including impaired loans held-for-investment, and other loans in the process of foreclosure, is generally discontinued when a loan becomes 90 days or more delinquent, or sooner when certain factors indicate that the ultimate collection of principal and interest is in doubt.  Loans on which the accrual of income has been discontinued are designated as non-accrual loans.  All previously accrued interest is reversed against interest income, and income is recognized subsequently only in the period that cash is received, provided no principal payments are due and the remaining principal balance outstanding is deemed collectible.  A non-accrual loan is not returned to accrual status until both principal and interest payments are brought current and factors indicating doubtful collection no longer exist, including performance by the borrower under the loan terms for a consecutive six-month period.

The Company accounts for the PCI loans based on expected cash flows. In accordance with current accounting guidance, the Company will maintain the integrity of a pool of multiple loans accounted for as a single asset and evaluate the pools for impairment, and accrual status, based on variances from the expected cash flows.

(g)    Federal Home Loan Bank Stock

The Bank, as a member of the Federal Home Loan Bank (FHLB) of New York, is required to hold shares of capital stock in the FHLB as a condition to both becoming a member and engaging in certain transactions with the FHLB.  The minimum investment requirement is determined by a “membership” investment component and an “activity-based” investment component.  The membership investment component is the greater of 0.20% of the Bank’s mortgage-related assets, as defined by the FHLB, or $1,000.  The activity-based investment component is equal to 4.5% of the Bank’s outstanding advances with the FHLB.  The activity-based investment component also considers other transactions, including assets originated for or sold to the FHLB, and delivery commitments issued by the FHLB.  The Company currently does not enter into these other types of transactions with the FHLB. 

On a quarterly basis, we perform our other-than-temporary impairment analysis of FHLB stock, we evaluate, among other things, (i) its earnings performance, including the significance of any decline in net assets of the FHLB as compared to the regulatory capital amount of the FHLB, (ii) the commitment by the FHLB to continue dividend payments, and (iii) the liquidity position of the FHLB.  We did not consider our investment in FHLB stock to be other-than-temporarily impaired at December 31, 2016 and 2015.

(h)    Premises and Equipment, Net

Premises and equipment, including leasehold improvements, are carried at cost, less accumulated depreciation and amortization.  Depreciation and amortization of premises and equipment, including capital leases, are computed on a straight-line basis over the estimated useful lives of the related assets.  The estimated useful lives of significant classes of assets are generally as follows: buildings - forty years; furniture and equipment - five to seven years; and purchased computer software - three years.  Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful lives of the improvements.  Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred.  Upon retirement or sale, any gain or loss is credited or charged to operations.

(i)    Bank Owned Life Insurance

The Company has purchased bank owned life insurance contracts to help fund its obligations for certain employee benefit costs.  The Company’s investment in such insurance contracts has been reported in the consolidated balance sheets at their cash surrender values.  Changes in cash surrender values and death benefit proceeds received in excess of the related cash surrender values are recorded as non-interest income.

(j)    Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets.  Goodwill is not amortized and is subject to an annual assessment for impairment. The goodwill impairment analysis is generally a two-step test. However, under current accounting guidance, first we may assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under current accounting guidance, we are not required to calculate the fair value of a reporting unit if, based on a qualitative assessment, we determine that it was more likely than not that the unit’s fair value was not less than its carrying amount. During 2016, we elected to perform step one of the two-step goodwill impairment test for our reporting unit, but we may choose to perform the optional quantitative assessment in future periods.

Goodwill is allocated to Northfield’s reporting unit at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings.

As of December 31, 2016, the carrying value of goodwill totaled $38.4 million.  The Company performed its annual goodwill impairment test, as of December 31, 2016, and determined that the fair value of the Company’s single reporting unit to be in excess of its carrying value.  The Company will test goodwill for impairment between annual test dates if an event occurs or circumstances change that would indicate the fair value of the reporting unit is below its carrying amount. No events have occurred and no circumstances have changed since the annual impairment test date that would indicate the fair value of the reporting unit is below its carrying amount.

(k)    Income Taxes

Income taxes are accounted for under the asset and liability method.  Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled.  When applicable, deferred tax assets are reduced by a valuation allowance for any portions determined not likely to be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Income tax benefits are recognized and measured based upon a two-step model: 1) a tax position must be more-likely-than-not to be sustained based solely on its technical merits in order to be recognized, and 2) the benefit is measured as the largest dollar amount of that position that is more-likely-than-not to be sustained upon settlement. The difference between the benefit recognized and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. The Company records income tax-related interest and penalties, if applicable, within income tax expense.

(l)    Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted (and without interest) net cash flows expected to be generated by the asset.  If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.

(m)    Securities Sold Under Agreements to Repurchase and Other Borrowings

The Company enters into sales of securities under agreements to repurchase (Repurchase Agreements) and collateral pledge agreements (Pledge Agreements) with selected dealers and banks.  Such agreements are accounted for as secured financing transactions since the Company maintains effective control over the transferred or pledged securities and the transfer meets the other accounting and recognition criteria as required by the transfer and servicing topic of the Financial Accounting Standards Board (FASB) Accounting Standards.  Obligations under these agreements are reflected as a liability in the consolidated balance sheets.  Securities underlying the agreements are maintained at selected dealers and banks as collateral for each transaction executed and may be sold or pledged by the counterparty.  Collateral underlying Repurchase Agreements that permit the counterparty to sell or pledge the underlying collateral is disclosed on the consolidated balance sheets as “encumbered.”  The Company retains the right under all Repurchase Agreements and Pledge Agreements to substitute acceptable collateral throughout the terms of the agreement.

(n)    Comprehensive Income (Loss)

Comprehensive income (loss) includes net income and the change in unrealized holding gains and losses on securities available-for-sale, change in actuarial gains and losses on other post retirement benefits, and change in service cost on other postretirement benefits, net of taxes.  Comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income.

(o)   Benefits

The Company sponsors a defined postretirement benefit plan that provides for medical and life insurance coverage to a limited number of retirees, as well as life insurance to all qualifying employees of the Company.  The estimated cost of postretirement benefits earned is accrued during an individual’s estimated service period to the Company. The Company recognizes in its balance sheet the over-funded or under-funded status of a defined benefit postretirement plan measured as the difference between the fair value of plan assets and the benefit obligation at the end of our calendar year.  The actuarial gains and losses and the prior service costs and credits that arise during the period are recognized as a component of other comprehensive income (loss), net of tax.    

Funds borrowed by the Employee Stock Ownership Plan (the “ESOP”) from the Company to purchase the Company’s common stock are being repaid from the Bank’s contributions over a period of up to 30 years.  The Company’s common stock not yet allocated to participants is recorded as a reduction of stockholders’ equity at cost.  The Company records compensation expense related to the ESOP at an amount equal to the shares committed to be released by the ESOP multiplied by the average fair value of our common stock during the reporting period.

The Company recognizes the grant-date fair value of stock based awards issued to participants' as compensation cost in the consolidated statements of comprehensive income (loss).  The fair value of common stock awards is based on the closing price of our common stock as reported on the NASDAQ Stock Market on the grant date.  The expense related to stock options is based on the estimated fair value of the options at the date of the grant using the Black-Scholes pricing model.  The awards are fixed in nature and compensation cost related to stock based awards is recognized on a straight-line basis over the requisite service periods.

The Bank has a 401(k) plan covering substantially all employees.  Contributions to the plan are expensed as incurred.

(p)    Segment Reporting

As a community-focused financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers.  Management makes operating decisions and assesses performance based on an ongoing review of these community banking operations, which constitute the Company’s only operating segment for financial reporting purposes. 

(q)    Net Income per Common Share

Net income per common share-basic is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding, excluding unallocated ESOP shares and unearned common stock award shares.  The weighted average common shares outstanding includes the average number of shares of common stock outstanding, including shares allocated or committed to be released ESOP shares.

Net income per common share-diluted is computed using the same method as basic earnings per share, but reflects the potential dilution that could occur if stock options and unvested shares of restricted stock were exercised and converted into common stock.  These potentially dilutive shares are included in the weighted average number of shares outstanding for the period using the treasury stock method.  When applying the treasury stock method, we add: (1) the assumed proceeds from option exercises; (2) the tax benefit, if any, that would be credited to additional paid-in capital assuming exercise of non-qualified stock options and vesting of shares of restricted stock; and (3) the average unamortized compensation costs related to unvested shares of restricted stock and stock options.  We then divide this sum by our average stock price for the period to calculate assumed shares repurchased.  The excess of the number of shares issuable over the number of shares assumed to be repurchased is added to basic weighted average common shares to calculate diluted earnings per share.  At December 31, 2016, 2015, and 2014, there were 1,343,498, 1,192,769, and 1,026,130 dilutive shares outstanding, respectively.    

(r)    Other Real Estate Owned

Assets acquired through loan foreclosure, or deed-in-lieu of, are held for sale and are initially recorded at estimated fair value less estimated selling costs when acquired, thus establishing a new cost basis.  Costs after acquisition are generally expensed.  If the estimated fair value of the asset subsequently declines, a write-down is recorded through other non-interest expense.

(s)    Recent Accounting Developments

In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. Prior to this pronouncement there was no guidance on how to present restricted cash and cash equivalents in the Statement of Cash Flows. ASU No. 2016-18 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In August 2016, the FASB issued Accounting Standards Update (ASU) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which provides guidance on the classification of certain cash receipts and payments within the statement of cash flows. ASU No. 2016-15 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. Since the ASU only impacts classification on the statements of cash flows, adoption will not affect the Company's consolidated financial position, results of operations or its cash and cash equivalents.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. Current US GAAP is based on an incurred loss model that delays recognition of credit losses until it is probable the loss has been incurred. Accordingly, it is anticipated that credit losses will be recognized earlier under the CECL model than under the incurred loss model. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements, but the extent of the effect is indeterminable at this time as it will be dependent upon the nature and characteristics of the Company's loan portfolio at the adoption date, as well as economic conditions and forecasts at that date.

In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which includes provisions to simplify certain aspects related to the accounting for share-based awards and the related financial statement presentation. The ASU includes a requirement that the tax effect related to the settlement of share-based awards be recorded in income tax benefit or expense in the statements of earnings. This change is required to be adopted prospectively in the period of adoption. In addition, the ASU modifies the classification of certain share-based payment activities within the statements of cash flows and these changes are required to be applied retrospectively to all periods presented, or in certain cases prospectively, beginning in the period of adoption. ASU No. 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and the Company will adopt it in the first quarter of 2017. The impact of ASU No. 2016-09 on the Company's results of operations in future periods is dependent upon, among other things, the level of earnings and stock price of the Company, but assuming we continue to be in an excess tax benefit position, adoption will result in a reduction to tax expense due to the recognition of excess tax benefits as an income tax benefit rather than in additional paid-in capital.

     In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), which is intended to increase transparency and comparability of accounting for lease transactions. The ASU will require all leases to be recognized on the balance sheet as lease assets and lease liabilities and will require both quantitative and qualitative disclosures regarding key information about leasing arrangements. Lessor accounting is largely unchanged. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements.

In January 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. ASU No. 2016-01 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments, which requires that adjustments to provisional amounts that are identified during the measurement period of a business combination be recognized in the reporting period in which the adjustment amounts are determined. Furthermore, the income statement effects of such adjustments, if any, must be calculated as if the accounting had been completed at the acquisition date. Under previous guidance, adjustments to provisional amounts identified during the measurement period were to be recognized retrospectively. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will be effective for interim and annual periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance in U.S. GAAP. The Company does not expect the guidance to have a material effect on its consolidated financial statements as the ASU is not applicable to financial instruments and, therefore, will not affect the majority of the Company's revenues.

In January 2014, the FASB issued ASU No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which clarifies that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (i) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the ASU requires interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 was effective for annual and interim periods beginning after December 15, 2014 and the adoption of this pronouncement did not have a material effect on the Company’s consolidated financial statements.

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Business Combination

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Business Combination

Business Combination

On January 8, 2016, the Company completed its acquisition of Hopewell Valley Community Bank (“Hopewell Valley”), which, after purchase accounting adjustments, added $508.5 million to total assets, $342.6 million to loans, and $456.2 million to deposits, and nine branch offices in the Hunterdon and Mercer counties of New Jersey. Total consideration paid for Hopewell Valley was $55.4 million, consisting of $13.7 million in cash and 2,707,381 shares of common stock valued at $41.7 million based upon the $15.41 per share closing price of Northfield Bancorp, Inc.'s common stock on January 8, 2016.

The transaction was accounted for under the acquisition method of accounting. Under this method of accounting, the purchase price has been allocated to the respective assets acquired and liabilities assumed based upon their estimated fair values, net of tax. The excess of consideration paid over the fair value of the net assets acquired has been recorded as goodwill.

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition for Hopewell Valley (in thousands):

ASSETS ACQUIRED:	January 8, 2016
Cash and cash equivalents, net	$	55,479
Securities available for sale	61,633
Loans	342,566
Accrued interest receivable	1,452
Bank-owned life insurance	11,269
Premises and equipment	5,926
Federal Home Loan Bank of New York stock, at cost	476
Goodwill	22,252
Other intangible assets	2,013
Other assets	5,389
Total assets acquired	$	508,455
LIABILITIES ASSUMED:
Deposits	$	456,203
Other borrowings	2,213
Other liabilities	8,318
Total liabilities assumed	$	466,734
Net assets acquired	$	41,721

Fair Value Measurement of Assets Assumed and Liabilities Assumed

The methods used to determine the fair value of the assets acquired and liabilities assumed in the Hopewell Valley acquisition were as follows:

Cash and cash equivalents

The estimated fair values of cash and cash equivalents approximate their stated face amounts, as these financial instruments are either due on demand or have short-term maturities.

Securities Available-for-Sale

The estimated fair values of the investment securities classified as available-for-sale were calculated utilizing Level 1 and Level 2 inputs. Management reviewed the data and assumptions used by its third party provider in pricing the securities to ensure the highest level of significant inputs is derived from observable market data. These prices were validated against other pricing sources and broker-dealer indications.

Loans

The acquired loan portfolio was valued based on current guidance which defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Level 3 inputs were utilized to value the portfolio and included the use of present value techniques employing cash flow estimates and the incorporated assumptions that marketplace participants would use in estimating fair values. In instances where reliable market information was not available, the Company used its own assumptions in an effort to determine reasonable fair value. Specifically, management utilized three separate fair value analyses which a market participant would employ in estimating the total fair value adjustment. The three separate fair valuation methodologies used were: 1) interest rate loan fair value analysis; 2) general credit fair value adjustment; and 3) specific credit fair value adjustment.

To prepare the interest rate fair value analysis, loans were grouped by characteristics such as loan type, term, collateral and rate. Market rates for similar loans were obtained from various external data sources and reviewed by Company management for reasonableness. The average of these rates was used as the fair value interest rate a market participant would utilize. A present value approach was utilized to calculate the interest rate fair value adjustment.

The general credit fair value adjustment was calculated using a two part general credit fair value analysis: 1) expected lifetime losses; and 2) estimated fair value adjustment for qualitative factors. The expected lifetime losses were calculated using an average of historical losses of the Company, the acquired bank and peer banks. The adjustment related to qualitative factors was impacted by general economic conditions and the risk related to lack of familiarity with the originator's underwriting process.

To calculate the specific credit fair value adjustment, management reviewed the acquired loan portfolio for loans meeting the definition of an impaired loan with deteriorated credit quality. Loans meeting this definition were reviewed by comparing the contractual cash flows to expected collectible cash flows. The aggregate expected cash flows less the acquisition date fair value resulted in an accretable yield amount. The accretable yield amount will be recognized over the life of the loans on a level yield basis as an adjustment to yield.

Other intangible assets

Other intangible assets consisting of core deposit premium represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of an acquisition. The core deposit premium value represents the future economic benefit, including the present value of future tax benefits, of the potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources. The core deposit premium is being amortized over an estimated useful life of 10 years to approximate the existing deposit relationships acquired.

Deposits

The fair values of deposit liabilities with no stated maturity (i.e., non-interest bearing demand accounts, interest-bearing negotiable orders of withdrawal (NOW), savings and money market accounts) are equal to the carrying amounts payable on demand. The fair values of certificates of deposit represent contractual cash flows, discounted to present value using interest rates currently offered on deposits with similar characteristics and remaining maturities.

Other borrowings

Other borrowings consist of securities sold under agreements to repurchase. The carrying amounts approximate their fair values because they frequently re-price to a market rate.

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Securities Available-For-Sale

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Securities Available-For-Sale

Securities Available-for-Sale

The following is a comparative summary of mortgage-backed securities, debt securities and other securities available-for-sale at December 31, 2016 and 2015 (in thousands):  

	2016
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
Government sponsored enterprises (GSE)	$	225,047	$	2,800	$	3,298	$	224,549
Real estate mortgage investment conduits (REMICs):
GSE	230,500		259		6,466		224,293
Non-GSE	280		—		10		270
	455,827		3,059		9,774		449,112
Debt securities:
Municipal bonds	2,151		13		6		2,158
Corporate bonds	45,373		150		364		45,159
	47,524		163		370		47,317
Other securities
Equity investments - mutual funds	1,233		—		15		1,218
Other	1,250		—		—		1,250
	2,483		—		15		2,468
Total securities available-for-sale	$	505,834	$	3,222	$	10,159	$	498,897

	2015
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	228,557	$	4,673	$	1,530	$	231,700
REMICs:
GSE	305,387		647		8,210		297,824
Non-GSE	597		—		18		579
	534,541		5,320		9,758		530,103
Debt securities:
Corporate bonds	11,002		9		—		11,011
Other securities:
Equity investments-mutual funds	481		—		—		481
Total securities available-for-sale	$	546,024	$	5,329	$	9,758	$	541,595

The following is a summary of the expected maturity distribution of debt securities available-for-sale other than mortgage-backed securities at December 31, 2016 (in thousands): 

Available-for-sale	Amortized cost		Estimated fair value
Due in one year or less	$	1,735	$	1,730
Due after one year through five years	40,695		40,425
Due after five years through ten years	5,094		5,162
	$	47,524	$	47,317

Expected maturities on mortgage-backed securities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties.

Certain securities available-for-sale are pledged or encumbered to secure borrowings under Pledge Agreements and Repurchase Agreements and for other purposes required by law.  At December 31, 2016, and December 31, 2015, securities available-for-sale with a carrying value of $108.8 million and $101.0 million, respectively, were pledged to secure repurchase agreements and deposits. See Note 8 for further discussion regarding securities pledged or encumbered for borrowings.

For the year ended December 31, 2016, the Company had gross proceeds of $44.6 million on sales of securities available-for-sale with gross realized gains of approximately $493,000 and gross realized losses of approximately $187,000.  For the year ended December 31, 2015, the Company had gross proceeds of $51.1 million on sales of securities available-for-sale with gross realized gains and gross realized losses of approximately $60,000 and $3,000 gross realized losses. For the year ended December 31, 2014, the Company had gross proceeds of $12.0 million on sales of securities available-for-sale with gross realized gains of approximately $382,000 and no gross realized losses. The Company recognized net gains of $507,000 on its trading securities portfolio during the year ended December 31, 2016, and net losses of $396,000 and $155,000, for the years ended December 31, 2015 and 2014, respectively. The Company routinely sells securities when market pricing presents, in management’s assessment, an economic benefit that outweighs holding such security, and when smaller balance securities become cost prohibitive to carry.

The Company did not recognize any other-than-temporary impairment charges in earnings during the years ended December 31, 2016, 2015 and 2014.

Gross unrealized losses on mortgage-backed securities, debt securities and other securities available-for-sale, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands): 

	December 31, 2016
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	2,703	$	121,878	$	595	$	8,402	$	3,298	$	130,280
REMICs:
GSE	1,622		75,586		4,844		97,726		6,466		173,312
Non-GSE	—		—		10		270		10		270
Debt securities:
Municipal bonds	6		1,679		—		—		6		1,679
Corporate bonds	364		26,022		—		—		364		26,022
Other securities	15		947		—		—		15		947
Total	$	4,710	$	226,112	$	5,449	$	106,398	$	10,159	$	332,510

	December 31, 2015
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	115	$	14,424	$	1,415	$	52,120	$	1,530	$	66,544
REMICs:
GSE	338		31,937		7,872		164,666		8,210		196,603
Non-GSE					18		579		18		579
Total	$	453	$	46,361	$	9,305	$	217,365	$	9,758	$	263,726

The Company held 19 pass-through mortgage-backed securities issued or guaranteed by GSEs, nine REMIC mortgage-backed securities issued or guaranteed by GSEs, and two REMIC mortgage-backed securities not issued or guaranteed by GSEs that were in a continuous unrealized loss position of greater than twelve months at December 31, 2016. There were 22 pass-through mortgage-backed securities issued or guaranteed by GSEs, 10 REMIC mortgage-backed securities issued or guaranteed by GSEs, five corporate bonds, and two municipal bonds that were in an unrealized loss position of less than twelve months. All securities referred to above were rated investment grade at December 31, 2016.  The declines in value relate to the general interest rate environment and are considered temporary.  The securities cannot be prepaid in a manner that would result in the Company not receiving all of its amortized cost.  The Company neither has an intent to sell, nor is it more likely than not that the Company will be required to sell, the securities before the recovery of their amortized cost basis or, if necessary, maturity.

The fair values of our investment securities could decline in the future if the underlying performance of the collateral for the collateralized mortgage obligations or other securities deteriorates and our credit enhancement levels do not provide sufficient protections to our contractual principal and interest.  As a result, there is a risk that significant other-than-temporary impairments may occur in the future given the current economic environment.

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Securities Held-To-Maturity

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Securities Held-To-Maturity

Securities Held-to-Maturity

The following is a summary of mortgage-backed securities held-to-maturity at December 31, 2016 and 2015 (in thousands): 

	2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,148	$	29	$	59	$	10,118
Total securities held-to-maturity	$	10,148	$	29	$	59	$	10,118

	2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,346	$	53	$	30	$	10,369
Total securities held-to-maturity	$	10,346	$	53	$	30	$	10,369

Contractual maturities for mortgage-backed securities are not presented, as expected maturities on mortgage-backed securities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. There were no sales of held-to-maturity securities for the years ended December 31, 2016, 2015 or 2014. The Company did not recognize any other-than-temporary impairment charges in earnings on securities held-to-maturity during the years ended December 31, 2016, 2015 and 2014. At December 31, 2016, and December 31, 2015, securities held-to-maturity with a carrying value of $5.0 million and $5.6 million, respectively, were pledged to secure repurchase agreements and deposits.

Gross unrealized losses on mortgage-backed securities held-to-maturity, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands):

	December 31, 2016
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	59	$	7,466
Total securities held-to-maturity	$	59	$	7,466

	December 31, 2015
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	30	$	3,901
Total securities held-to-maturity	$	30	$	3,901

The Company held four pass-through mortgage-backed securities held-to-maturity, issued or guaranteed by GSEs, that were in a continuous unrealized loss position of less than twelve months. Management evaluated these securities and concluded that the declines in value relate to the general interest rate environment and are considered temporary.  The securities cannot be prepaid in a manner that would result in the Company not receiving all of its amortized cost.  The Company neither has an intent to sell, nor is it more likely than not that the Company will be required to sell, the securities before the recovery of their amortized cost basis or, if necessary, maturity.

The fair values of our investment securities could decline in the future if the underlying performance of the collateral for the collateralized mortgage obligations or other securities deteriorates and our credit enhancement levels do not provide sufficient protections to our contractual principal and interest.  As a result, there is a risk that significant other-than-temporary impairments may occur in the future given the current economic environment.

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Loans

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Loans

Loans

Loans held-for-investment, net, consists of the following (in thousands): 

	December 31,
	2016			2015
Real estate loans:
Multifamily	$	1,506,335		$	1,318,461
Commercial mortgage	412,667			402,073
One-to-four family residential mortgage	105,968			98,332
Home equity and lines of credit	65,437			61,413
Construction and land	14,065			18,652
Total real estate loans	2,104,472			1,898,931
Commercial and industrial loans	31,906			25,554
Other loans	1,497			2,256
Total commercial and industrial and other loans	33,403			27,810
Deferred loan cost, net	6,471			4,844
Originated loans held-for-investment, net	2,144,346			1,931,585
PCI Loans	30,498			33,115
Loans acquired:
One-to-four family residential mortgage	317,639			330,672
Multifamily	215,389			64,779
Commercial mortgage	188,001			11,160
Home equity and lines of credit	25,522			2,404
Construction and land	20,887			—
Total acquired real estate loans	767,438			409,015
Commercial and industrial loans	25,443			—
Other loans	359			—
Total loans acquired	793,240			409,015
Loans held for investment, net	2,968,084			2,373,715
Allowance for loan losses	(24,595		)	(24,770		)
Net loans held-for-investment	$	2,943,489		$	2,348,945

The Company had no loans held-for-sale at December 31, 2016, or December 31, 2015. 

PCI loans totaled $30.5 million at December 31, 2016, as compared to $33.1 million at December 31, 2015, and included $4.8 million of loans acquired as part of the Hopewell Valley acquisition at December 31, 2016. The remaining balance of PCI loans is primarily attributable to those acquired as part of an FDIC-assisted transaction. The Company accounts for PCI loans utilizing U.S. GAAP applicable to loans acquired with deteriorated credit quality.  At December 31, 2016, PCI loans consisted of approximately 30% commercial real estate loans and 48% commercial and industrial loans, with the remaining balance in residential and home equity loans.  At December 31, 2015, PCI loans consisted of approximately 28% commercial real estate loans and 52% commercial and industrial loans, with the remaining balance in residential and home equity loans.

The following table sets forth information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired from Hopewell Valley at January 8, 2016 (in thousands):

	January 8, 2016
Contractually required principal and interest at acquisition	$	16,580
Contractual cash flows not expected to be collected (non-accretable discount)	(9,929		)
Expected cash flows to be collected at acquisition	6,651
Interest component of expected cash flows (accretable discount)	(845		)
Fair value of acquired loans	$	5,806

The following details the accretable yield (in thousands):   

	For The Year Ended December 31,
	2016			2015
Balance at the beginning of year	$	22,853		$	27,943
Acquisition	845			—
Accretion into interest income	(5,225		)	(4,525		)
Net reclassification from/(to) non-accretable difference(1)	5,742			(565		)
Balance at end of year	$	24,215		$	22,853

_______________________

1) Due to re-casting of cash flows for loan pools acquired in the 2011 FDIC-assisted transaction. Reclassifications of the non-accretable difference to the accretable yield may occur subsequent to the loan acquisition dates due to increases in expected cash flows of the loans.

The Company does not have any lending programs commonly referred to as subprime lending.  Subprime lending generally targets borrowers with weakened credit histories typically characterized by payment delinquencies, previous charge-offs, judgments, bankruptcies, or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios.

We provide for loan losses based on the consistent application of our documented allowance for loan loss methodology.  Loan losses are charged to the allowance for loans losses and recoveries are credited to it.  Additions to the allowance for loan losses are provided by charges against income based on various factors which, in our judgment, deserve current recognition in estimating incurred losses.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, for collateral dependent loans.  We regularly review the loan portfolio in order to maintain the allowance for loan losses in accordance with U.S. GAAP.   At December 31, 2016 and 2015, the allowance for loan losses related to loans held-for-investment (excluding PCI loans) consisted primarily of the following two components:

(1) Specific allowances are established for impaired loans (generally defined by the Company as non-accrual loans with an outstanding balance of $500,000 or greater and all loans restructured in troubled debt restructurings). The amount of impairment, if any, provided for as a specific reserve determined by the deficiency, if any, between the present value of expected future cash flows discounted at the original loan’s effective interest rate or the underlying collateral value (less estimated costs to sell and discounts for quick sales,) if the loan is collateral dependent, and the carrying value of the loan. Impaired loans that have no impairment losses are not considered for general allowances described below. Generally, the Company charges down a loan to the estimated fair value of the underlying collateral, less costs to sell for collateral dependent loans and, if necessary, maintains a specific reserve in the allowance for loan losses related to cash flow dependent impaired loans where the present value of the expected future cash flows, discounted at the loan’s original contractual interest rate, is less than the carrying value of the loan unless management determines that such shortfall should be charged off.

(2) General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. The portfolio is grouped into similar risk characteristics, primarily loan type, loan-to-value, if collateral dependent, and internal credit risk ratings. We apply an estimated loss rate to each loan group. The loss rates applied are based on our net loss experience (using appropriate look-back and loss emergence periods) as adjusted, if appropriate, for our qualitative assessment of factors which may not be fully captured in our historical quantitative net loss rates related to:

• changes in lending policies and procedures;

• changes in local, regional, national, and international economic and business conditions and developments that affect the collectability of our portfolio, including the condition of various market segments;

• changes in the nature and volume of our portfolio and in the terms of our loans;

• changes in the experience, ability and depth of lending management and other relevant staff;

• changes in the volume and severity of past due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans;

• changes in the quality of our loan review system;

• changes in the value of underlying collateral for collateral-dependent loans;

• the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and

• the effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our existing portfolio.

The loss emergence period is the estimated time from the date of the loss event to the actual recognition of the loss (typically the first charge-off), and is determined based upon a study of the Company's past loss experience by loan groups. This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based upon changes in economic and real estate market conditions. Actual loan losses may be significantly more than the allowance for loan losses we have established, which could have a material negative effect on our financial results. Prior to December 31, 2016, we maintained an amount identified as the unallocated component within the allowance for loan losses related to indicators of loan losses not fully captured in other components of the allowance for loan losses methodology, as well as the inherent imprecision of the loss estimation process.  During the fourth quarter of 2016, the Company enhanced the allowance for loan losses qualitative framework to more fully capture the risks related to certain loan loss factors. These enhancements are meant to increase the level of precision in the allowance for loan losses.  As a result, the Company will no longer have an unallocated reserve in its allowance for loan losses, as the risks and uncertainties meant to be captured by the unallocated allowance have been included in the qualitative framework for the respective loan portfolios.

Held-for-investment loans acquired with no evidence of credit deterioration are initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses. These loans are evaluated for impairment on a quarterly basis as part of our analysis of the allowance for loan losses. 

In underwriting a loan secured by real property, we require an appraisal (or an automated valuation model) of the property by an independent licensed appraiser approved by the Company’s board of directors.  The appraisal is subject to review by an independent third-party hired by the Company.  We review and inspect properties before disbursement of funds during the term of a construction loan.  Generally, management obtains updated appraisals when a loan is deemed impaired, or sooner if management deems it appropriate.  These appraisals may be more limited than those prepared for the underwriting of a new loan.  In addition, when the Company acquires other real estate owned, it generally obtains a current appraisal to substantiate the net carrying value of the asset.  

We evaluate the allowance for loan losses based on the combined total of the impaired and general components for loans.  Generally when the loan portfolio increases, absent other factors, our allowance for loan loss methodology results in a higher dollar amount of estimated incurred losses.  Conversely, when the loan portfolio decreases, absent other factors, our allowance for loan loss methodology results in a lower dollar amount of estimated incurred losses. 

Each quarter we evaluate the allowance for loan losses and adjust the allowance as appropriate through a provision for loan losses.  While we use the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the information used in making the evaluations.  In addition, as an integral part of their examination process, the Office of the Comptroller of the Currency (OCC) will periodically review the allowance for loan losses.  The OCC may require us to adjust the allowance based on their analysis of information available to them at the time of their examination.   

A summary of changes in the allowance for loan losses for the years ended December 31, 2016, 2015, and 2014 follows (in thousands): 

	December 31,
	2016			2015			2014
Balance at beginning of year	$	24,770		$	26,292		$	26,037
Provision for loan losses	635			353			645
Recoveries	194			140			402
Charge-offs	(1,004		)	(2,015		)	(792		)
Balance at end of year	$	24,595		$	24,770		$	26,292

The following table sets forth activity in our allowance for loan losses, by loan type, for the years ended December 31, 2016 and 2015.  The following table also details the amount of loans receivable held-for-investment, net of deferred loan fees and costs, that are evaluated individually, and collectively, for impairment, and the related portion of allowance for loan losses that is allocated to each loan portfolio segment (in thousands):

	December 31, 2016
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans			Total
Allowance for loan losses:
Beginning Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115		$	24,770
Charge-offs	(638		)	(20		)	—			(278		)	—			(66		)	(2		)	—			(1,004		)	—		—			(1,004		)
Recoveries	181			2			—			—			2			4			5			—			194			—		—			194
Provisions (credit)	(1,217		)	(105		)	(89		)	2,843			(209		)	494			(62		)	(1,093		)	562			113		(40		)	635
Ending Balance	$	5,432		$	664		$	172		$	14,952		$	588		$	1,720		$	96		$	—		$	23,624		$	896	$	75		$	24,595
Ending balance: individually evaluated for impairment	$	64		$	66		$	—		$	95		$	23		$	5		$	—		$	—		$	253		$	—	$	75		$	328
Ending balance: collectively evaluated for impairment	$	5,368		$	598		$	172		$	14,857		$	565		$	1,715		$	96		$	—		$	23,371		$	896	$	—		$	24,267
Loans, net:
Ending Balance	$	413,352		$	106,524		$	14,092		$	1,510,100		$	66,767		$	32,013		$	1,498		$	—		$	2,144,346		$	30,498	$	793,240		$	2,968,084
Ending balance: individually evaluated for impairment	$	20,710		$	2,180		$	—		$	1,372		$	336		$	101		$	—		$	—		$	24,699		$	—	$	1,591		$	26,290
Ending balance: collectively evaluated for impairment	$	392,642		$	104,344		$	14,092		$	1,508,728		$	66,431		$	31,912		$	1,498		$	—		$	2,119,647		$	30,498	$	791,649		$	2,941,794

	December 31, 2015
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans		Total
Allowance for loan losses:
Beginning Balance	$	9,309		$	951		$	266		$	12,219		$	901		$	841		$	134		$	1,209		$	25,830		$	400	$	62	$	26,292
Charge-offs	(1,431		)	(277		)	—			(120		)	(115		)	(71		)	(1		)	—			(2,015		)	—		—		(2,015		)
Recoveries	2			20			—			25			42			34			17			—			140			—		—		140
Provisions (credit)	(774		)	93			(5		)	263			(33		)	484			5			(116		)	(83		)	383		53		353
Ending Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115	$	24,770
Ending balance: individually evaluated for impairment	$	394		$	167		$	—		$	158		$	51		$	4		$	—		$	—		$	774		$	—	$	115	$	889
Ending balance: collectively evaluated for impairment	$	6,712		$	620		$	261		$	12,229		$	744		$	1,284		$	155		$	1,093		$	23,098		$	783	$	—	$	23,881
Loans, net:
Ending Balance	$	402,714		$	99,010		$	18,677		$	1,320,724		$	62,594		$	25,610		$	2,256		$	—		$	1,931,585		$	33,115	$	409,015	$	2,373,715
Ending balance: individually evaluated for impairment	$	20,465		$	2,344		$	—		$	2,458		$	354		$	116		$	—		$	—		$	25,737		$	—	$	3,250	$	28,987
Ending balance: collectively evaluated for impairment	$	382,249		$	96,666		$	18,677		$	1,318,266		$	62,240		$	25,494		$	2,256		$	—		$	1,905,848		$	33,115	$	405,765	$	2,344,728

The Company monitors the credit quality of its loan portfolio on a regular basis.  Credit quality is monitored by reviewing certain credit quality indicators.  Management has determined that loan-to-value ratios (at period end) and internally assigned credit risk ratings by loan type are the key credit quality indicators that best measure the credit quality of the Company’s loan receivables.  Loan-to-value (“LTV”) ratios used by management in monitoring credit quality are based on current period loan balances and original appraised values at time of origination (unless a current appraisal has been obtained as a result of the loan being deemed impaired).  In calculating the provision for loan losses, based on past loan loss experience, management has determined that commercial real estate loans and multifamily loans having loan-to-value ratios, as described above, of less than 35%, and one-to-four family loans having loan-to-value ratios, as described above, of less than 60%, require less of a loss factor than those with higher loan to value ratios.

The Company maintains a credit risk rating system as part of the risk assessment of its loan portfolio. The Company’s lending officers are required to assign a credit risk rating to each loan in their portfolio at origination. This risk rating is reviewed periodically and adjusted if necessary. Monthly, management presents monitored assets to the loan committee. In addition, the Company engages a third-party independent loan reviewer that performs semi-annual reviews of a sample of loans, validating the credit risk ratings assigned to such loans. The credit risk ratings play an important role in the establishment of the loan loss provision and the allowance for loan losses for originated loans held-for-investment. After determining the general reserve loss factor for each originated portfolio segment held-for-investment, the originated portfolio segment held-for-investment balance collectively evaluated for impairment is multiplied by the general reserve loss factor for the respective portfolio segment in order to determine the general reserve.

When assigning a risk rating to a loan, management utilizes the Bank’s internal nine-point credit risk rating system. 

1. Strong

2. Good

3. Acceptable

4. Adequate

5. Watch

6. Special Mention

7. Substandard

8. Doubtful

9. Loss

Loans rated 1 to 5 are considered pass ratings.  An asset is classified substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any.  Substandard assets have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.  Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable based on current circumstances.  Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted.  Assets which do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses, are required to be designated special mention.

The following table details the recorded investment of originated loans receivable held-for-investment, net of deferred fees and costs, by loan type and credit quality indicator at December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	122,525	$	1,381,231	$	65,612	$	323,842	$	59,214	$	43,316	$	14,092	$	66,489	$	31,173	$	1,498	$	2,108,992
Special Mention	25		4,636		—		3,852		705		—		—		29		696		—		9,943
Substandard	40		1,643		1,179		18,867		1,807		1,482		—		249		144		—		25,411
Originated loans held-for-investment, net	$	122,590	$	1,387,510	$	66,791	$	346,561	$	61,726	$	44,798	$	14,092	$	66,767	$	32,013	$	1,498	$	2,144,346
	At December 31, 2015
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	124,678	$	1,188,916	$	52,253	$	319,733	$	48,429	$	46,578	$	18,677	$	61,935	$	24,846	$	2,256	$	1,888,301
Special Mention	51		3,832		974		2,966		504		—		—		75		316		—		8,718
Substandard	775		2,472		1,233		25,555		2,112		1,387		—		584		448		—		34,566
Originated loans held-for-investment, net	$	125,504	$	1,195,220	$	54,460	$	348,254	$	51,045	$	47,965	$	18,677	$	62,594	$	25,610	$	2,256	$	1,931,585

Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers.  The recorded investment of these nonaccrual loans was $7.3 million and $8.8 million at December 31, 2016, and December 31, 2015, respectively.  Generally, originated loans are placed on non-accruing status when they become 90 days or more delinquent, or sooner if considered appropriate by management, and remain on non-accrual status until they are brought current, have six consecutive months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist.  Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent and still be on a non-accruing status. 

Non-accrual amounts include loans deemed to be impaired of $5.7 million and $6.7 million at December 31, 2016, and December 31, 2015, respectively.  Loans on non-accrual status with principal balances less than $500,000, and therefore not meeting the Company’s definition of an impaired loan, amounted to $1.7 million at December 31, 2016, and $2.1 million at December 31, 2015.  There was no loans held-for-sale at December 31, 2016, and December 31, 2015.  Loans past due ninety days or more and still accruing interest were $60,000 and $15,000 at December 31, 2016, and December 31, 2015, respectively, and consisted of loans that are well secured and in the process of collection. 

The following table sets forth the detail, and delinquency status, of originated and acquired non-performing loans (non-accrual loans and loans past due ninety days or more and still accruing), net of deferred fees and costs, at December 31, 2016 and 2015 (in thousands), excluding PCI loans which have been segregated into pools.  For PCI loans, each loan pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows.

	At December 31, 2016
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	341	$	—	$	4,882	$	5,223	$	—	$	5,223
Total commercial	341		—		4,882		5,223		—		5,223
One-to-four family residential
LTV < 60%
Substandard	384		383		442		1,209		9		1,218
LTV => 60%
Substandard	—		—		—		—		43		43
Total one-to-four family residential	384		383		442		1,209		52		1,261
Multifamily
LTV => 35%
Substandard	—		—		3		3		—		3
LTV < 35%
Substandard	40		—		—		40		—		40
Total multifamily	40		—		3		43		—		43
Home equity and lines of credit
Substandard	—		96		—		96		—		96
Total home equity and lines of credit	—		96		—		96		—		96
Total non-performing loans held-for-investment	765		479		5,327		6,571		52		6,623
Loans acquired:
Real Estate Loans:
Commercial
LTV < 35%
Substandard	—		—		231		231		—		231
LTV >= 35%
Substandard	—		—		59		59		—		59
Total Commercial	—		—		290		290		—		290
One-to-four family residential
LTV < 60%
Substandard	420		—		—		420		—		420
Total one-to-four family residential	420		—		—		420		—		420
Home equity and lines of credit	—		—		31		31		8		39
Commercial and industrial	—		—		9		9		—		9
Total non-performing loans acquired	420		—		330		750		8		758
Total non-performing loans	$	1,185	$	479	$	5,657	$	7,321	$	60	$	7,381

	At December 31, 2015
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	344	$	372	$	4,516	$	5,232	$	—	$	5,232
Total commercial	344		372		4,516		5,232		—		5,232
One-to-four family residential
LTV < 60%
Substandard	364		180		565		1,109		—		1,109
Total	364		180		565		1,109		—		1,109
LTV => 60%
Substandard	901		135		—		1,036		—		1,036
Total	901		135		—		1,036		—		1,036
Total one-to-four family residential	1,265		315		565		2,145		—		2,145
Construction and land
Pass	—		—		113		113		—		113
Total construction and land	—		—		113		113		—		113
Multifamily
LTV => 35%
Substandard	—		—		559		559		—		559
Total multifamily	—		—		559		559		—		559
Home equity and lines of credit
Substandard	—		—		329		329		—		329
Total home equity and lines of credit	—		—		329		329		—		329
Commercial and industrial loans
Pass	—		—		—		—		15		15
Total commercial and industrial loans	—		—		—		—		15		15
Total non-performing loans held-for-investment	1,609		687		6,082		8,378		15		8,393
Loans acquired:
One-to-four family residential
LTV < 60%
Substandard	429		—		—		429		—		429
Total one-to-four family residential	429		—		—		429		—		429
Total non-performing loans acquired	429		—		—		429		—		429
Total non-performing loans	$	2,038	$	687	$	6,082	$	8,807	$	15	$	8,822

The following table sets forth the detail and delinquency status of originated and acquired loans, net of deferred fees and costs, by performing and non-performing loans at December 31, 2016 and 2015 (in thousands):

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	65,189	$	423	$	65,612	$	—	$	65,612
Substandard	1,179		—		1,179		—		1,179
Total	66,368		423		66,791		—		66,791
LTV => 35%
Pass	322,307		1,535		323,842		—		323,842
Special Mention	3,852		—		3,852		—		3,852
Substandard	12,600		1,044		13,644		5,223		18,867
Total	338,759		2,579		341,338		5,223		346,561
Total commercial	405,127		3,002		408,129		5,223		413,352
One-to-four family residential
LTV < 60%
Pass	56,787		2,427		59,214		—		59,214
Special Mention	—		705		705		—		705
Substandard	589		—		589		1,218		1,807
Total	57,376		3,132		60,508		1,218		61,726
LTV => 60%
Pass	43,316		—		43,316		—		43,316
Special Mention	—		—		—		—		—
Substandard	1,439		—		1,439		43		1,482
Total	44,755		—		44,755		43		44,798
Total one-to-four family residential	102,131		3,132		105,263		1,261		106,524
Construction and land
Pass	14,092		—		14,092		—		14,092
Special Mention	—		—		—		—		—
Substandard	—		—		—		—		—
Total construction and land	14,092		—		14,092		—		14,092
Multifamily
LTV < 35%
Pass	122,525		—		122,525		—		122,525
Special Mention	25		—		25		—		25
Substandard	—		—		—		40		40
Total	122,550		—		122,550		40		122,590
LTV= > 35%
Pass	1,380,331		900		1,381,231		—		1,381,231
Special Mention	4,636		—		4,636		—		4,636
Substandard	1,640		—		1,640		3		1,643
Total	1,386,607		900		1,387,507		3		1,387,510
Total multifamily	1,509,157		900		1,510,057		43		1,510,100
Home equity and lines of credit
Pass	66,369		120		66,489		—		66,489
Special Mention	29		—		29		—		29
Substandard	153		—		153		96		249
Total home equity and lines of credit	66,551		120		66,671		96		66,767
Commercial and industrial loans
Pass	31,040		133		31,173		—		31,173
Special Mention	696		—		696		—		696
Substandard	144		—		144		—		144
Total commercial and industrial loans	31,880		133		32,013		—		32,013
Other loans
Pass	1,452		46		1,498		—		1,498
Total other loans	1,452		46		1,498		—		1,498

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	2,130,390		7,333		2,137,723		6,623		2,144,346
Acquired loans:
One-to-four family residential
LTV < 60%
Pass	285,116		21		285,137		—		285,137
Special Mention	502		—		502		—		502
Substandard	654		261		915		420		1,335
Total	286,272		282		286,554		420		286,974
LTV => 60%
Pass	30,199		—		30,199		—		30,199
Substandard	259		207		466		—		466
Total	30,458		207		30,665		—		30,665
Total one-to-four family residential	316,730		489		317,219		420		317,639
Commercial
LTV < 35%
Pass	61,646		7		61,653		—		61,653
Special Mention	286		—		286		—		286
Substandard	406		1,040		1,446		231		1,677
Total	62,338		1,047		63,385		231		63,616
LTV => 35%
Pass	119,932		132		120,064		—		120,064
Special Mention	446		138		584		—		584
Substandard	3,419		259		3,678		59		3,737
Total	123,797		529		124,326		59		124,385
Total commercial	186,135		1,576		187,711		290		188,001
Construction and land
Pass	20,887		—		20,887		—		20,887
Total construction and land	20,887		—		20,887		—		20,887
Multifamily
LTV < 35%
Pass	205,025		—		205,025		—		205,025
Special Mention	99		111		210		—		210
Substandard	156		—		156		—		156
Total	205,280		111		205,391		—		205,391
LTV => 35%
Pass	9,569		—		9,569		—		9,569
Substandard	—		429		429		—		429
Total	9,569		429		9,998		—		9,998
Total multifamily	214,849		540		215,389		—		215,389
Commercial and industrial
Pass	25,419		—		25,419		—		25,419
Substandard	—		15		15		9		24
Total commercial and industrial	25,419		15		25,434		9		25,443
Home equity and lines of credit
Pass	25,340		45		25,385		—		25,385
Substandard	—		98		98		39		137
Total home equity and lines of credit	25,340		143		25,483		39		25,522
Other	355		4		359		—		359
Total loans acquired	789,715		2,767		792,482		758		793,240
	$	2,920,105	$	10,100	$	2,930,205	$	7,381	$	2,937,586

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	50,974	$	1,279	$	52,253	$	—	$	52,253
Special Mention	974		—		974		—		974
Substandard	1,233		—		1,233		—		1,233
Total	53,181		1,279		54,460		—		54,460
LTV => 35%
Pass	319,411		322		319,733		—		319,733
Special Mention	2,966		—		2,966		—		2,966
Substandard	8,696		11,627		20,323		5,232		25,555
Total	331,073		11,949		343,022		5,232		348,254
Total commercial	384,254		13,228		397,482		5,232		402,714
One-to-four family residential
LTV < 60%
Pass	45,737		2,692		48,429		—		48,429
Special Mention	134		370		504		—		504
Substandard	696		307		1,003		1,109		2,112
Total	46,567		3,369		49,936		1,109		51,045
LTV => 60%
Pass	46,578		—		46,578		—		46,578
Substandard	—		351		351		1,036		1,387
Total	46,578		351		46,929		1,036		47,965
Total one-to-four family residential	93,145		3,720		96,865		2,145		99,010
Construction and land
Pass	18,564		—		18,564		113		18,677
Total construction and land	18,564		—		18,564		113		18,677
Multifamily
LTV < 35%
Pass	124,678		—		124,678		—		124,678
Special Mention	—		51		51		—		51
Substandard	775		—		775		—		775
Total	125,453		51		125,504		—		125,504
LTV => 35%
Pass	1,187,147		1,769		1,188,916		—		1,188,916
Special Mention	2,687		1,145		3,832		—		3,832
Substandard	1,913		—		1,913		559		2,472
Total	1,191,747		2,914		1,194,661		559		1,195,220
Total multifamily	1,317,200		2,965		1,320,165		559		1,320,724
Home equity and lines of credit
Pass	61,561		374		61,935		—		61,935
Special Mention	75		—		75		—		75
Substandard	255		—		255		329		584
Total home equity and lines of credit	61,891		374		62,265		329		62,594
Commercial and industrial loans
Pass	24,780		51		24,831		15		24,846
Special Mention	316		—		316		—		316
Substandard	395		53		448		—		448
Total Commercial and industrial loans	25,491		104		25,595		15		25,610
Other loans
Pass	2,245		11		2,256		—		2,256
Total other loans	2,245		11		2,256		—		2,256

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	1,902,790		20,402		1,923,192		8,393		1,931,585
Loans acquired:
One-to-four family residential
LTV < 60%
Pass	313,425		312		313,737		—		313,737
Special Mention	549		—		549		—		549
Substandard	737		177		914		429		1,343
Total	314,711		489		315,200		429		315,629
LTV => 60%
Pass	14,759		—		14,759		—		14,759
Substandard	284		—		284		—		284
Total	15,043		—		15,043		—		15,043
Total one-to-four family residential	329,754		489		330,243		429		330,672
Commercial
LTV < 35%
Pass	2,164		—		2,164		—		2,164
Substandard	—		729		729		—		729
Total	2,164		729		2,893		—		2,893
LTV => 35%
Pass	5,536		—		5,536		—		5,536
Special Mention	883		—		883		—		883
Substandard	1,848		—		1,848		—		1,848
Total	8,267		—		8,267		—		8,267
Total commercial	10,431		729		11,160		—		11,160
Multifamily
LTV < 35%
Pass	4,695		—		4,695		—		4,695
Special Mention	138		—		138		—		138
Total	4,833		—		4,833		—		4,833
LTV => 35%
Pass	59,632		—		59,632		—		59,632
Special Mention	314		—		314		—		314
Total	59,946		—		59,946		—		59,946
Total multifamily	64,779		—		64,779		—		64,779
Home equity and lines of credit
Pass	2,404		—		2,404		—		2,404
Total home equity and lines of credit	2,404		—		2,404		—		2,404
Total loans acquired	407,368		1,218		408,586		429		409,015
	$	2,310,158	$	21,620	$	2,331,778	$	8,822	$	2,340,600

The following table summarizes originated and acquired (subsequent to acquisition) impaired loans as of December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016							December 31, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance			Recorded Investment		Unpaid Principal Balance		Related Allowance
With No Allowance Recorded:
Real estate loans:
Commercial
Substandard	$	—	$	139	$	—		$	—	$	139	$	—
LTV => 35%
Pass	3,911		4,047		—			4,051		4,188		—
Special Mention	—		—		—
Substandard	14,780		16,868		—			13,371		14,748		—
One-to-four family residential
LTV < 60%
Pass	633		633		—			221		221		—
Substandard	184		184		—			234		234		—
LTV => 60%
Substandard	620		848		—			150		167
Multifamily
LTV < 35%
Substandard	156		156		—			—		—		—
LTV => 35%
Pass	63		534		—			75		545		—
Substandard	—		—		—			1,012		1,012		—
Home Equity
Pass	39		39		—			—		—		—
Commercial and industrial loans
Substandard	75		75		—			87		87		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Substandard	2,019		2,019		(64		)	4,891		5,430		(394		)
One-to-four family residential
LTV < 60%
Pass	—		—		—			503		503		(33		)
Substandard	1,522		1,522		(97		)	1,604		1,604		(152		)
LTV => 60%
Pass	275		275		(3		)
Special Mention	—		—		—			1,034		1,081		(97		)
Substandard	381		381		(41		)	—		—		—
Multifamily
LTV => 35%
Pass	1,309		1,309		(95		)	—		—		—
Substandard	—		—		—			1,371		1,371		(158		)
Home equity and lines of credit
Pass	258		258		(5		)	269		269		(11		)
Special Mention	—		—		—			44		44		(19		)
Substandard	39		39		(18		)	41		41		(21		)
Commercial and industrial loans
Special Mention	26		26		(5		)	29		29		(4		)
Total:
Real estate loans:
Commercial	20,710		23,073		(64		)	22,313		24,505		(394		)
One-to-four family residential	3,615		3,843		(141		)	3,746		3,810		(282		)
Multifamily	1,528		1,999		(95		)	2,458		2,928		(158		)
Home equity and lines of credit	336		336		(23		)	354		354		(51		)
Commercial and industrial loans	101		$	101	(5		)	116		116		(4		)
	$	26,290	$	29,352	$	(328	)	$	28,987	$	31,713	$	(889	)

Included in the table above at December 31, 2016, are impaired loans with carrying balances of $11.5 million that were not written down by charge-offs or for which there are no specific reserves in our allowance for loan losses.  Included in the impaired loans at December 31, 2015, are loans with carrying balances of $14.5 million that were not written down by charge-offs or for which there are no specific reserves in our allowance for loan losses.  Loans not written down by charge-offs or specific reserves at December 31, 2016 and 2015, have sufficient collateral values, less costs to sell (including any discounts to facilitate a sale), or sufficient future cash flows to support the carrying balances of the loans. 

The following table summarizes the average recorded investment in originated and acquired impaired loans (excluding PCI loans) and interest recognized on impaired loans as of, and for, the years ended December 31, 2016, and December 31, 2015 (in thousands):

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
With No Allowance Recorded:
Real estate loans:
Commercial
LTV < 35%
Substandard	$	—	$	39	$	—	$	—
LTV => 35%
Pass	3,980		192		2,938		184
Special Mention	—		—		109		—
Substandard	13,853		450		12,593		884
One-to-four family residential
LTV < 60%
Pass	559		31		207		9
Special Mention	—		—		55		—
Substandard	213		21		188		22
One-to-four family residential
LTV => 60%
Substandard	339		26		101		3
Multifamily
LTV < 35%
Substandard	62		6		—		—
LTV => 35%
Pass	69		17		80		17
Substandard	582		—		688		27
Home equity and lines of credit
Pass	8		3
Special Mention	—		—		29		—
Commercial and industrial loans
Special Mention	—		—		59		—
Substandard	81		—		93		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Pass	—		—		668		—
Substandard	5,800		62		10,357		75
One-to-four family residential
LTV < 60%
Pass	137		—		263		19
Special Mention	—		—		127		—
Substandard	1,575		26		1,017		65
LTV => 60%
Pass	110		6		—		—
Special Mention	—		—		207		—
Substandard	796		4		377		102

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
Multifamily
LTV => 35%
Pass	794		50		—		—
Substandard	546		—		1,399		52
Home equity and lines of credit
Pass	264		8		163		7
Special Mention	34		—		129		3
Substandard	40		1		25		2
Commercial and industrial loans
Pass	—		—
Special Mention	27		1		24		2
Substandard	—		—		82		—
Total:
Real estate loans:
Commercial	23,633		743		26,665		1,143
One-to-four family residential	3,729		114		2,542		220
Multifamily	2,053		73		2,167		96
Home equity and lines of credit	346		12		346		12
Commercial and industrial loans	108		1		258		2
	$	29,869	$	943	$	31,978	$	1,473

There were no loans modified as troubled debt restructurings (“TDRs”) during the year ended December 31, 2016. The following tables summarize loans that were modified in a troubled debt restructuring during the year ended December 31, 2015:

	Year Ended December 31, 2015
		Pre-Modification		Post-Modification
	Number of	Outstanding Recorded		Outstanding Recorded
	Relationships	Investment		Investment
		(Dollars in thousands)
Commercial real estate loans
Substandard	3	$	8,957	$	8,457
One-to-four Family
Pass	1	20		20
Substandard	8	1,889		1,889
Home equity and lines of credit
Substandard	1	43		43
Total Troubled Debt Restructurings	13	$	10,909	$	10,409

One of the commercial real estate relationships in the table above, with a pre-modification outstanding recorded investment of $6.3 million, represents five loans to one borrower that were restructured into one loan, and then subsequently sold, during the year ended December 31, 2015. These loans were restructured to provide partial forgiveness of debt, after the borrower made a $500,000 principal payment. The remaining relationships in the table above were restructured to receive reduced interest rates. There were two loans modified as TDRs during the year ended December 31, 2015, that subsequently defaulted, consisting of two one-to-four family residential loans to one borrower, with a recorded investment of $361,000 at December 31, 2016, one of which totaling approximately $184,000, was paid off in full in February 2017.

At December 31, 2016 and 2015, we had TDRs of $22.4 million and $26.6 million, respectively.

Management classifies all troubled debt restructurings as impaired loans.  Impaired loans are individually assessed to determine that the loan’s carrying value is not in excess of the estimated fair value of the collateral (less cost to sell), if the loan is collateral dependent, or the present value of the expected future cash flows, if the loan is not collateral dependent. Management performs a detailed evaluation of each impaired loan and generally obtains updated appraisals as part of the evaluation.  In addition, management adjusts estimated fair values down to appropriately consider recent market conditions, our willingness to accept a lower sales price to effect a quick sale, and costs to dispose of any supporting collateral.  Determining the estimated fair value of underlying collateral (and related costs to sell) can be difficult in illiquid real estate markets and is subject to significant assumptions and estimates.  Management employs an independent third-party expert in appraisal preparation and review to ascertain the reasonableness of updated appraisals.  Projecting the expected cash flows under troubled debt restructurings which are not collateral dependent is inherently subjective and requires, among other things, an evaluation of the borrower’s current and projected financial condition. Actual results may be significantly different than our projections and our established allowance for loan losses on these loans, which could have a material effect on our financial results.

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Premises And Equipment, Net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Premises And Equipment, Net

Premises and Equipment, Net

At December 31, 2016 and 2015, premises and equipment, less accumulated depreciation and amortization, consists of the following (in thousands): 

	December 31,
	2016			2015
At cost:
Land	$	4,018		$	2,530
Buildings and improvements	8,856			6,695
Capital leases	2,600			2,600
Furniture, fixtures, and equipment	21,962			19,954
Leasehold improvements	27,398			26,197
	64,834			57,976
Accumulated depreciation and amortization	(37,924		)	(34,333		)
Premises and equipment, net	$	26,910		$	23,643

Depreciation expense for the years ended December 31, 2016, 2015, and 2014, was $3.6 million, $3.4 million, and $3.6 million, respectively.

There were no sales of premises and equipment in 2016, 2015, or 2014.

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Deposits

12 Months Ended

Dec. 31, 2016

Banking and Thrift [Abstract]

Deposits

Deposits

Deposit account balances are summarized as follows (dollars in thousands): 

	As of December 31,
	2016				2015
	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Transaction:
Negotiable orders of withdrawal	$	467,440	0.34	%	$	217,813	0.25	%
Non-interest bearing checking	390,484		—	%	263,073		—	%
Total transaction	857,924		0.19	%	480,886		0.11	%
Savings:
Money market	818,660		0.67	%	548,132		0.62	%
Savings	500,926		0.24	%	524,043		0.47	%
Total savings	1,319,586		0.51	%	1,072,175		0.55	%
Certificates of deposit:
Under $250,000	484,480		1.22	%	461,127		1.11	%
$250,000 or more	51,597		1.48	%	38,741		1.73	%
Total certificates of deposit	536,077		1.24	%	499,868		1.15	%
Total deposits	$	2,713,587	0.55	%	$	2,052,929	0.59	%

The Company had brokered deposits (included in certificates of deposit in the above table) of $98.8 million and $157.1 million at December 31, 2016 and 2015, respectively. 

Scheduled maturities of certificates of deposit are summarized as follows (in thousands): 

	December 31, 2016
2017	$	237,733
2018	109,599
2019	94,622
2020	78,344
2021	15,779
Thereafter	—
Total	$	536,077

Interest expense on deposits is summarized as follows (in thousands):

	December 31,
	2016		2015		2014
Negotiable order of withdrawal and money market	$	5,634	$	2,816	$	1,766
Savings-passbook and statement	2,124		2,141		445
Certificates of deposit	6,529		5,466		3,180
	$	14,287	$	10,423	$	5,391

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Borrowings

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Borrowings

Borrowings

Borrowings consisted of securities sold under agreements to repurchase, FHLB advances, and obligations under capital leases and are summarized as follows (in thousands): 

	December 31,
	2016		2015
Repurchase agreements	$	8,000	$	63,000
Other borrowings:
FHLB advances	453,220		487,130
Floating rate advances	11,463		7,272
Obligations under capital leases	523		727
	$	473,206	$	558,129

FHLB advances are secured by a blanket lien on unencumbered securities and the Company’s FHLB capital stock.    

Repurchase agreements and FHLB advances have contractual maturities as follows (in thousands): 

	December 31, 2016
	FHLB		Repurchase
	Advances		Agreements
2017	$	159,003	$	6,000
2018	140,715		2,000
2019	93,502		—
2020	60,000		—
2021	—		—
	$	453,220	$	8,000

At December 31, 2016, repurchase agreements have a weighted average rate of 3.19%, with $4.0 million maturing in the first quarter of 2017 and $4.0 million maturing in more than 90 days.  The repurchase agreements are secured primarily by mortgage-backed securities with an amortized cost of $13.7 million, and a fair value of $13.9 million, at December 31, 2016.  At December 31, 2015, repurchase agreements had a weighted average rate of 2.77%, with $51.0 million maturing in the first quarter of 2016 and $12.0 million maturing in more than 90 days. The repurchase agreements were secured primarily by mortgage-backed securities with an amortized cost of $69.1 million, and a fair value of $70.7 million, at December 31, 2015.    

The Company has the ability to obtain additional funding from the FHLB and Federal Reserve Bank discount window of approximately $837.8 million, utilizing unencumbered and unpledged securities of $123.0 million and multifamily loans of $798.6 million at December 31, 2016.  The Company expects to have sufficient funds available to meet current commitments in the normal course of business.

Interest expense on borrowings is summarized as follows (in thousands): 

	December 31,
	2016		2015		2014
Repurchase agreements	$	569	$	2,446	$	4,161
FHLB advances	6,743		6,742		5,717
Floating rate advances	27		17		3
Obligations under capital leases	42		60		80
	$	7,381	$	9,265	$	9,961

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Income Taxes

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax expense (benefit) consists of the following (in thousands): 

	December 31,
	2016			2015			2014
Federal tax expense (benefit):
Current	$	14,218		$	11,796		$	11,195
Deferred	(1,260		)	(2,305		)	(1,675		)
	12,958			9,491			9,520
State and local tax expense (benefit):
Current	2,506			1,811			1,828
Deferred	(1,799		)	673			508
	707			2,484			2,336
Total income tax expense	$	13,665		$	11,975		$	11,856

Reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate for the years ended December 31, 2016, 2015, and 2014, is as follows (dollars in thousands): 

	December 31,
	2016			2015			2014
Tax expense at statutory rate of 35%	$	13,928		$	11,027		$	11,242
Increase (decrease) in taxes resulting from:
State tax, net of federal income tax	460			1,615			1,519
Bank owned life insurance	(1,399		)	(1,319		)	(1,366		)
Merger related costs	74			201			—
Incentive stock options	299			210			134
Uncertain tax position	178			51			131
Other, net	125			190			196
Income tax expense	$	13,665		$	11,975		$	11,856

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2016 and 2015, are as follows (in thousands): 

	December 31,
	2016		2015
Deferred tax assets:
Allowance for loan losses	$	9,470	$	9,514
Capitalized leases	213		287
Deferred compensation	5,686		2,450
Accrued salaries	1,128		910
Postretirement benefits	576		555
Equity awards	5,005		4,707
Unrealized actuarial losses on post retirement benefits	124		217
Straight-line leases adjustment	1,219		1,099
Asset retirement obligation	89		97
Reserve for accrued interest receivable	1,116		775
Reserve for loan commitments	193		127
Employee Stock Ownership Plan	642		532
Other	366		358
Depreciation	2,509		2,123
Fair value adjustments of acquired loans	10,168		7,105
Fair value adjustments of pension benefit obligations	250		267
Unrealized losses on securities	2,775		1,780
Total gross deferred tax assets	41,529		32,903
Deferred tax liabilities:
Fair value adjustments of acquired securities	82		9
Fair value adjustments of deposit liabilities	547		30
Deferred loan fees	1,910		1,777
Other	59		21
Total gross deferred tax liabilities	2,598		1,837
Net deferred tax asset	$	38,931	$	31,066

The Company recorded net deferred tax assets of approximately $3.9 million as a result of the Hopewell Valley acquisition.

The Company has determined that it is not required to establish a valuation reserve for the net deferred tax asset account since it is “more likely than not” that the net deferred tax assets will be realized through future reversals of existing taxable temporary differences, future taxable income and tax planning strategies.  The conclusion that it is “more likely than not” that the net deferred tax assets will be realized is based on the history of earnings and the prospects for continued profitability.  Management will continue to review the tax criteria related to the recognition of deferred tax assets.

As a savings institution, the Bank is subject to a special federal tax provision regarding its frozen tax bad debt reserve. At December 31, 2016, and December 31, 2015, the Bank’s federal tax bad debt base-year reserve was $5.9 million, with a related net deferred tax liability of $2.8 million, which has not been recognized since the Bank does not expect that this reserve will become taxable in the foreseeable future. Events that would result in taxation of this reserve include redemptions of the Bank’s stock or certain excess distributions by the Bank to the Company.

A reconciliation of the Company’s uncertain tax positions are as follows (in thousands):

	December 31,
	2016		2015		2014
Beginning balance	$	281	$	230	$	679
Settlements based on tax positions related to prior years	—		—		(580		)
Additions based on tax positions related to prior years	178		51		131
Ending balance	$	459	$	281	$	230

The Company recognizes interest and penalties on income taxes in income tax expense.

The following years are open for examination or under examination:

• Federal tax filings for 2013 through present.

• New York State tax filings 2013 through present. The 2010 through 2012 filings are currently under examination.

• New York City tax filings 2013 through present. The 2010 through 2012 filings are currently under examination.

• State of New Jersey 2013 through present.

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Retirement Benefits

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Retirement Benefits

Retirement Benefits 

The Company has a 401(k) plan for its employees, which grants eligible employees (those salaried employees with at least three months of service) the opportunity to invest from 2% to 15% of their base compensation in certain investment alternatives.  The Company contributes an amount equal to 25% of employee contributions on the first 6% of base compensation contributed by eligible employees for the first three years of participation.  Subsequent years of participation in excess of three years will increase the Company matching contribution from 25% to 50% of an employee’s contributions, on the first 6% of base compensation contributed by eligible employees.  A member becomes fully vested in the Company’s contributions upon (a) completion of five years of service, or (b) normal retirement, early retirement, permanent disability, or death.  The Company’s contribution to this plan amounted to approximately $384,000, $321,000, and $292,000 for the years ended December 31, 2016, 2015, and 2014, respectively. 

The Company also maintains a profit-sharing plan in which the Company can contribute to the participant’s 401(k) account, at its discretion, up to the legal limit of the Internal Revenue Code.  The Company did not contribute to the profit sharing plan during 2016, 2015, and 2014.

The Company maintains the Northfield Bank ESOP.  The ESOP is a tax-qualified plan designed to invest primarily in the Company’s common stock.  The ESOP provides employees with the opportunity to receive a funded retirement benefit from the Bank, based primarily on the value of the Company’s common stock.  The ESOP purchased 2,463,884 shares of the Company’s common stock in the Company’s initial public offering at a price of $7.13 per share.  This purchase was funded with a loan from Northfield Bancorp, Inc. to the ESOP.  The outstanding balance at December 31, 2016 and 2015 was $12.1 million and $12.7 million, respectively.  The shares of the Company’s common stock purchased in the initial public offering are pledged as collateral for the loan.  Shares are released for allocation to participants as loan payments are made.  A total of 97,836 and 80,131 shares were released and allocated to participants of the ESOP for the years ended December 31, 2016 and 2015, respectively.  Cash dividends on unallocated shares are utilized to satisfy required debt payments.  Dividends on allocated shares are utilized to prepay debt which releases additional shares to participants.

Upon completion of the Company’s second-step conversion, a second ESOP was established for employees in 2013, which purchased 1,422,357 shares of the Company’s common stock at a price of $10.00 per share.  The purchase was funded with a loan from Northfield Bancorp, Inc. to the second ESOP.  The outstanding balance at December 31, 2016 and 2015 was $12.9 million and $13.3 million, respectively.  The shares of the Company’s common stock purchased in the second-step conversion are pledged as collateral for the loan.  Shares are released for allocation to participants as loan payments are made.  A total of 50,086 and 47,384 shares were released and allocated to participants of the second ESOP for the years ended December 31, 2016 and 2015, respectively.  Cash dividends on unallocated shares are utilized to satisfy required debt payments.  Dividends on allocated shares are utilized to prepay debt which releases additional shares to participants.

ESOP compensation expense for both plans for the years ended December 31, 2016, 2015, and 2014 was $2.0 million, $1.9 million, and $1.7 million, respectively.  

The Company maintains a Supplemental Employee Stock Ownership Plan (the "SESOP"), a non-qualified plan, that provides supplemental benefits to certain executives who are prevented from receiving the full benefits contemplated by the ESOP’s benefit formula due to tax law limits for tax-qualified plans.  The supplemental payments for the SESOP consist of cash payments representing the value of Company shares that cannot be allocated to participants under the ESOPs due to legal limitations imposed on tax-qualified plans.  The Company's required contributions to the SESOP plan were $82,000, $82,000, and $7,000 for the years ended December 31, 2016, 2015, and 2014, respectively. 

The Company provides post retirement medical and life insurance to a limited number of retired individuals.  The Company also provides retiree life insurance benefits to all qualified employees, up to certain limits.  The following tables set forth the funded status and components of postretirement benefit costs at December 31 measurement dates (in thousands): 

	2016			2015			2014
Accumulated postretirement benefit obligation beginning of year	$	1,950		$	1,846		$	1,294
Service cost	8			9			6
Interest cost	71			62			53
Actuarial (gain) loss	(214		)	149			578
Benefits paid	(118		)	(116		)	(85		)
Accumulated postretirement benefit obligation end of year	1,697			1,950			1,846
Accrued liability (included in accrued expenses and other liabilities)	$	1,697		$	1,950		$	1,846

The following table sets forth the amounts recognized in accumulated other comprehensive income (loss) (in thousands): 

	December 31,
	2016		2015
Net loss	$	310	$	578
Transition obligation	—		—
Prior service cost	—		12
Loss recognized in accumulated other comprehensive income (loss)	$	310	$	590

The estimated net loss, prior service cost, and transition obligation, that will be amortized from accumulated other comprehensive income (loss) into net periodic cost in 2017, are $28,000,  $0, and $0 respectively. 

The following table sets forth the components of net periodic postretirement benefit costs for the years ended December 31, 2016, 2015, and 2014 (in thousands): 

	December 31,
	2016		2015		2014
Service cost	$	8	$	9	$	6
Interest cost	71		62		53
Amortization of transition obligation	—		17		17
Amortization of prior service costs	12		38		24
Amortization of unrecognized loss (gain)	54		44		(11		)
Net postretirement benefit cost included in compensation and employee benefits	$	145	$	170	$	89

The assumed discount rate related to plan obligations reflects the weighted average of published market rates for high-quality corporate bonds with terms similar to those of the plans expected benefit payments, rounded to the nearest quarter percentage point.  The Company’s discount rate and rate of compensation increase used in accounting for the plan are as follows: 

	2016		2015		2014
Assumptions used to determine benefit obligation at period end:
Discount rate	3.50	%	3.75	%	3.50	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%
Assumptions used to determine net periodic benefit cost for the year:
Discount rate	3.75	%	3.50	%	4.25	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%

At December 31, 2016, a medical cost trend rate of 8.75% decreasing 0.50% per year thereafter until an ultimate rate of 4.75% is reached, was used in the plan’s valuation.  The Company’s healthcare cost trend rates are based, among other things, on the Company’s own experience and third-party analysis of recent and projected healthcare cost trends.

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands): 

	One Percentage Point Increase				One Percentage Point Decrease
	2016		2015		2016			2015
Effect on benefits earned and interest cost	$	6	$	6	$	(5	)	$	(4	)
Effect on accumulated postretirement benefit obligation	121		156		(108		)	(139		)

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):

	One Percentage Point Increase						One Percentage Point Decrease
	2016		2015		2014		2016			2015			2014
Aggregate of service and interest components of net periodic cost (benefit)	$	6	$	6	$	4	$	(5	)	$	(4	)	$	(3	)

Benefit payments of approximately $118,000, $116,000, and $85,000 were made in 2016, 2015, and 2014, respectively. The benefits expected to be paid under the postretirement health benefits plan for the next five years are as follows: $120,000 in 2017; $123,000 in 2018; $126,000 in 2019; $128,000 in 2020; and $129,000 in 2021.  The benefit payments expected to be paid in the aggregate for the years 2022 through 2026 are $617,000.  The expected benefits are based on the same assumptions used to measure the Company’s benefit obligation at December 31, 2016, and include estimated future employee service.

The Company also maintained a defined benefit pension plan covering certain employees and individuals from the Flatbush Federal Savings and Loan Association Pension Plan (as part of the acquisition of Flatbush Federal Bancorp, Inc. and its wholly-owned subsidiary, Flatbush Federal Savings and Loan Association), which was terminated in February 2014, and resulted in the Company recognizing a pre-tax gain of $937,000. 

The Company maintains a nonqualified plan to provide for the elective deferral of all or a portion of director fees by members of the board of directors, deferral of all or a portion of the compensation and/or annual incentive compensation payable to eligible employees of the Company, and to provide to certain officers of the Company benefits in excess of those permitted to be paid by the Company’s savings plan, ESOP, and profit-sharing plan under the applicable Internal Revenue Code.  The plan obligation was approximately $14.1 million and $6.9 million at December 31, 2016 and 2015, respectively, and is included in accrued expenses and other liabilities on the consolidated balance sheets.  Income under this plan was $503,000, $392,000, and $153,000 for the years ended December 31, 2016, 2015, and 2014, respectively. The Company invests to fund this future obligation, in various mutual funds designated as trading securities.  The securities are marked-to-market through current period earnings as a component of non-interest income.  Accrued obligations under this plan are credited or charged with the return on the trading securities portfolio as a component of compensation and benefits expense.

The Company entered into a supplemental retirement agreement with its former president and director in 2006.  The agreement provided for 120 monthly payments of $17,450.  The present value of the obligation, of approximately $1.6 million, was recorded in compensation and benefits expense in 2006. The payments were completed during 2016 and no obligation remains as of December 31, 2016. The present value of the obligation at December 31, 2015 was $154,000.

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Equity Incentive Plan

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Incentive Plan

Equity Incentive Plan

In November 2016, the Company granted to an employee 20,000 restricted shares, and 40,000 stock options to purchase Company stock. These shares and options were issued out of the 2008 Equity Incentive Plan (the “2008 EIP”), which allows the Company to grant common stock or options to purchase common stock at specific prices to directors and employees of the Company. The 2008 EIP provides for the issuance or delivery of up to 4,311,796 shares of Northfield Bancorp, Inc. common stock subject to certain plan limitations. As of December 31, 2016, 40,085 restricted shares and 111,445 stock options remain available for issuance under the 2008 EIP.  All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2008 EIP.  Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years.  The fair value of stock options granted on November 16, 2016, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 1.80%, volatility of 30.07% and a dividend yield of 1.74%.  The fair value of stock options granted on July 26, 2013, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 1.39%, volatility of 35.33% and a dividend yield of 1.98%.  The fair value of stock options granted on January 30, 2010, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.90%, volatility of 38.29% and a dividend yield of 1.81%. The fair value of stock options granted on May 29, 2009, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.88%, volatility of 38.39% and a dividend yield of 1.50%. The fair value of stock options granted on January 30, 2009, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years utilizing the simplified method, risk-free rate of return of 2.17%, volatility of 35.33% and a dividend yield of 1.61%. The Company is expensing the grant date fair value of all employee and director share-based compensation over the requisite service periods on a straight-line basis.

In May 2015, the Company granted to directors and employees 419,000 restricted shares, and 1,090,000 stock options to purchase Company stock. These shares and options were issued out of the 2014 Equity Incentive Plan (the “2014 EIP”), which allows the Company to grant common stock or options to purchase common stock at specific prices to directors and employees of the Company. The 2014 EIP provides for the issuance or delivery of up to 4,978,249 shares (1,422,357 restricted shares and 3,555,892 stock options) of Northfield Bancorp, Inc. common stock subject to certain plan limitations. All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2014 EIP. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years. The fair value of stock options granted on May 27, 2015, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.67%, volatility of 32.06% and a dividend yield of 1.90%. As of December 31, 2016, 56,157 restricted shares and 86,852 stock options remain available for issuance under the 2014 EIP.

In 2014, the Company granted to directors and employees 1,001,200 restricted shares, and 2,502,600 stock options to purchase Company stock. These shares and options were issued out of the 2014 EIP. All stock options and restricted stock granted to date vest in equal installments over a five-year period beginning one year from the date of grant. The vesting of options and restricted stock awards may accelerate in accordance with terms of the 2014 EIP. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on quoted market prices and all have an expiration period of ten years. The fair value of stock options granted on June 11, 2014, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.92%, volatility of 33.83% and a dividend yield of 1.83%. The fair value of stock options granted on December 8, 2014, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.5 years, risk-free rate of return of 1.81%, volatility of 32.92% and a dividend yield of 1.68%.

During the years ended December 31, 2016, 2015, and 2014, the Company recorded, $7.3 million, $6.8 million, and $2.8 million of stock-based compensation.

The following table is a summary of the Company’s non-vested stock options as of December 31, 2016, and changes therein during the year then ended: 

	Number of Stock Options		Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Contractual Life (years)
Outstanding- December 31, 2014	5,138,072		$	3.08	$	10.04	7.44
Granted	1,090,000		4.07		14.76		9.41
Forfeited	(73,040	)	3.91		13.13		—
Exercised	(143,171	)	2.33		7.22		—
Outstanding- December 31, 2015	6,011,861		3.30		10.93		6.41
Granted	40,000		4.94		18.44		9.88
Forfeited	(32,520	)	4.00		13.78		—
Exercised	(690,671	)	2.52		7.84		—
Outstanding- December 31, 2016	5,328,670		3.41		11.36		5.78
Exercisable- December 31, 2016	2,985,272		$	2.92	$	9.44	4.15

Expected future stock option expense related to the non-vested options outstanding as of December 31, 2016, is $7.0 million over an average period of 2.9 years.

The following is a summary of the status of the Company’s restricted shares as of December 31, 2016, and changes therein during the year then ended: 

	Number of Shares Awarded		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	1,003,074		$	13.11
Granted	419,000		14.76
Vested	(196,492	)	13.09
Forfeited	(31,720	)	13.13
Non-vested at December 31, 2015	1,193,862		13.70
Granted	20,000		18.44
Vested	(277,580	)	13.61
Forfeited	(12,280	)	13.87
Non-vested at December 31, 2016	924,002		$	13.82

Expected future stock award expense related to the non-vested restricted awards as of December 31, 2016, is $9.8 million over an average period of 2.9 years.

Upon the exercise of stock options, management expects to utilize treasury stock as the source of issuance for these shares.

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Commitments And Contingencies

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Commitments and Contingencies

The Company, in the normal course of business, is party to commitments that involve, to varying degrees, elements of risk in excess of the amounts recognized in the consolidated financial statements.  These commitments include unused lines of credit and commitments to extend credit.

At December 31, 2016 and 2015, the following commitment and contingent liabilities existed that are not reflected in the accompanying consolidated financial statements (in thousands):

	December 31,
	2016		2015
Commitments to extend credit	$	46,069	$	18,400
Unused lines of credit	78,825		69,414
Standby letters of credit	7,463		471

The Company’s maximum exposure to credit losses in the event of nonperformance by the other party to these commitments is represented by the contractual amount.  The Company uses the same credit policies in granting commitments and conditional obligations as it does for amounts recorded in the consolidated balance sheets.  These commitments and obligations do not necessarily represent future cash flow requirements.  The Company evaluates each customer’s creditworthiness on a case-by-case basis.  The amount of collateral obtained, if deemed necessary, is based on management’s assessment of risk.  Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third-party. The guarantees generally extend for a term of up to one year and are fully collateralized.  For each guarantee issued, if the customer defaults on a payment to the third-party, the Company would have to perform under the guarantee.  The unamortized fee on standby letters of credit approximates their fair value; such fees were insignificant at December 31, 2016, and at December 31, 2015.  The Company maintains an allowance for estimated losses on commitments to extend credit in other liabilities.  At December 31, 2016 and 2015, the allowance was $475,000 and $318,000, respectively, and changes to the allowance are recorded as a component of other non-interest expense. 

At December 31, 2016, the Company was obligated under non-cancelable operating leases and capitalized leases on property used for banking purposes.  Most leases contain escalation clauses and renewal options which provide for increased rentals as well as for increases in certain property costs including real estate taxes, common area maintenance, and insurance.

The projected minimum annual rental payments and receipts under the capitalized leases and operating leases are as follows (in thousands): 

	Rental Payments Capitalized Leases		Rental Payments Operating Leases
Year ending December 31:
2017	$	254	$	4,682
2018	262		4,290
2019	44		3,957
2020	—		3,956
2021	—		3,521
Thereafter	—		30,069
Total minimum lease payments	$	560	$	50,475

Net rental expense included in occupancy expense was approximately $5.2 million, $4.6 million, and $4.3 million for the years ended December 31, 2016, 2015, and 2014, respectively. 

In the normal course of business, the Company may be a party to various outstanding legal proceedings and claims.  In the opinion of management, the consolidated financial statements will not be materially affected by the outcome of such legal proceedings and claims.

The Bank has entered into employment agreements with its Chief Executive Officer and the other executive officers of the Bank to ensure the continuity of executive leadership, to clarify the roles and responsibilities of executives, and to make explicit the terms and conditions of executive employment.  These agreements are for a term of three years subject to review and annual renewal, and provide for certain levels of base annual salary and in the event of a change in control, as defined, or in the event of termination, as defined, certain levels of base salary, bonus payments, and benefits for a period of up to three years.

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Regulatory Requirements

12 Months Ended

Dec. 31, 2016

Regulatory Requirements [Abstract]

Regulatory Requirements

Regulatory Requirements

Federal regulations require federally insured depository institutions to meet several minimum capital standards: a common equity Tier 1 capital to risk-based assets ratio of 4.5%, a Tier 1 capital to risk-based assets ratio of 6.0%, a total capital to risk-based assets of 8.0%, and a 4.0% Tier 1 capital to total assets leverage ratio. These capital requirements were effective January 1, 2015, and are the result of a final rule implementing recommendations of the Basel Committee on Banking Supervision and certain requirements of the Dodd-Frank Act.

Under prompt corrective action regulations, the OCC is required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution.  Such actions could have a direct material effect on the institution’s financial statements.  The regulations establish a framework for the classification of savings institutions into five categories: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized.  Generally, an institution is considered well capitalized if it has a leverage (Tier 1) ratio of 5.0% or greater, a common equity Tier 1 ratio of 6.5% or greater, a Tier 1 risk-based capital ratio of 8.0% or greater, and a total risk-based capital ratio of 10.0% or greater.

The foregoing capital ratios are based in part on specific quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices.  Capital amounts and classifications also are subject to qualitative judgments by the regulators about capital components, risk weighting, and other factors.

On January 1, 2015, a final rule issued by the federal bank regulatory agencies became effective which 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 establishes a new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), increases the minimum Tier 1 capital to risk-based assets requirement (from 4% to 6% of risk-weighted assets) and assigns a higher risk weight (150%) to exposures that are more than 90 days past due or are on non-accrual 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 to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out election is exercised.  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 capital conservation buffer requirement was phased in beginning January 1, 2016, and will be fully phased by January 1, 2019. The final rule also implemented consolidated capital requirements for savings and loan holding companies, such as the Company, effective January 1, 2015.

Management believes that as of December 31, 2016, and December 31, 2015, the Bank exceeded all capital adequacy requirements to which it is subject. Further, the most recent OCC notification categorized the Bank as a well-capitalized institution under the prompt corrective action regulations. There have been no conditions or events since that notification that management believes have changed the Bank's classification.

The following is a summary of Northfield Bank’s regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands):

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	553,715	17.75	%	$	140,371	4.50	%	$	202,758	6.50	%
Tier 1 Leverage	553,715		14.55		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	553,715		17.75		187,161		6.00		249,548		8.00
Total capital (to risk-weighted assets)	578,828		18.56		249,548		8.00		311,935		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	498,067	20.19	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	498,067		15.72		126,744		4.00		158,429		5.00
Tier I capital (to risk-weighted assets)	498,067		20.19		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	523,223		21.21		197,378		8.00		246,722		10.00	%

The following is a summary of the Company's regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands).

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	586,055	18.79	%	$	140,329	4.50	%	$	202,698	6.50	%
Tier 1 Leverage	586,055		15.40		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	586,055		18.79		187,106		6.00		249,474		8.00
Total capital (to risk-weighted assets)	611,168		19.60		249,474		8.00		380,533		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	546,564	22.15	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	546,564		17.25		126,764		4.00		158,455		5.00
Tier I capital (to risk-weighted assets)	546,564		22.15		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	571,720		23.17		197,378		8.00		246,722		10.00

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Fair Value Measurement

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair Value of Measurement

The following table presents the assets reported on the consolidated balance sheet at their estimated fair value as of December 31, 2016 and 2015, by level within the Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification.  Financial assets and liabilities are classified in their entirety based on the level of input that is significant to the fair value measurement.  The fair value hierarchy is as follows: 

• Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

• Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means.

• Level 3 Inputs – Significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities.

The following tables summarize financial assets and financial liabilities measured at fair value as of December 31, 2016 and 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):   

	Fair Value Measurements at December 31, 2016 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	448,842	$	—	$	448,842	$	—
Non-GSE	270		—		270		—
Debt securities
Municipal bonds	2,158		—		2,158
Corporate bonds	45,159		—		45,159		—
Other securities
Equity investments - mutual funds	1,218		271		947		—
Other	1,250		—		1,250		—
Total available-for-sale	498,897		271		498,626		—
Trading securities	7,857		7,857		—		—
Total	$	506,754	$	8,128	$	498,626	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	10,730	$	—	$	—	$	10,730
One-to-four family residential mortgage	2,177		—		—		2,177
Multifamily	1,276		—		—		1,276
Home equity and lines of credit	274		—		—		274
Total impaired real estate loans	14,457		—		—		14,457
Commercial and industrial loans	21		—		—		21
Other real estate owned	850		—		—		850
Total	$	15,328	$	—	$	—	$	15,328

	Fair Value Measurements at December 31, 2015 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	529,524	$	—	$	529,524	$	—
Non-GSE	579		—		579		—
Debt securities
Corporate bonds	11,011		—		11,011		—
Other securities
Equities	481		481		—		—
Total available-for-sale	541,595		481		541,114		—
Trading securities	6,713		6,713		—		—
Total	$	548,308	$	7,194	$	541,114	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	9,091	$	—	$	—	$	9,091
One-to-four family residential mortgage	2,873		—		—		2,873
Multifamily	1,288		—		—		1,288
Home equity and lines of credit	303		—		—		303
Total impaired real estate loans	13,555		—		—		13,555
Commercial and industrial loans	25		—		—		25
Other real estate owned	45		—		—		45
Total	$	13,625	$	—	$	—	$	13,625

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2016:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	14,478	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	850	Appraisals	Discount for costs to sell	7.0%

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2015:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	13,580	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10.0%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	45	Appraisals	Discount for costs to sell	7.0%

Available-for-Sale Securities: The estimated fair values for mortgage-backedsecurities, GSE bonds,and corporate securities are obtained from a nationally recognized third-party pricing service.  The estimated fair values are derived primarily from cash flow models, which include assumptions for interest rates, credit losses, and prepayment speeds.  Broker/dealer quotes are utilized as well when such quotes are available and deemed representative of the market.  The significant inputs utilized in the cash flow models are based on market data obtained from sources independent of the Company (observable inputs,) and are therefore classified as Level 2 within the fair value hierarchy.  The estimated fair value of equity securities classified as Level 1, are derived from quoted market prices in active markets.  Equity securities consist primarily of money market mutual funds. There werenotransfers of securities between Level 1 and Level 2 during the year ended December 31, 2016. 

Trading Securities: Fair values are derived from quoted market prices in active markets.  The assets consist of publicly traded mutual funds.

Impaired Loans: AtDecember 31, 2016,and December 31, 2015, the Company hadoriginatedimpaired loansheld-for-investmentwith outstanding principal balances of$17.7 million and$17.0 million that were recorded at their estimated fair value of$14.5 million and$13.6 million, respectively. The Company recorded a net decrease in the specific reserve for impaired loans of$562,000 and $725,000 for theyears ended December 31, 2016and2015, respectively, andnetcharge-offs of$810,000 and$1.9 million for theyears ended December 31, 2016 and 2015,respectively, utilizing Level 3 inputs.  For purposes of estimating fair value of impaired loans, management utilizes independent appraisals, if the loan is collateral dependent, adjusted downward by management, as necessary, for changes in relevant valuation factors subsequent to the appraisal date, or the present value of expected future cash flows for non-collateral dependent loans and troubled debt restructurings.

Other Real Estate Owned:  At December 31, 2016 and 2015, the Company had assets acquired through foreclosure of$850,000and$45,000, respectively, recorded at estimated fair value, less estimated selling costs when acquired, thus establishing a new cost basis.  Estimated fair value is generally based on independent appraisals.  These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are considered Level 3 inputs.  When an asset is acquired, the excess of the loan balance over fair value, less estimated selling costs, is charged to the allowance for loan losses.  If the estimated fair value of the asset declines, a write-down is recorded through non-interest expense.  The valuation of foreclosed assets is subjective in nature and may be adjusted in the future because of changes in the economic conditions. 

In addition,the Company may be required, from time to time, to measure the fair value of certain other financial assets on a nonrecurring basis in accordance with U.S. GAAP.  The adjustments to fair value usually result from the application of lower-of-cost-or-market accounting or write downs of individual assets.

Fair Value of Financial Instruments

The FASB Accounting Standards Topic forFinancial Instrumentsrequires disclosure of the fair valueof financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring or non-recurring basis.  The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above.  The following methods and assumptions were used to estimate the fair value of other financial assets and financial liabilities not already discussed above:

(a) Cash, Cash Equivalents, and Certificates of Deposit

Cash and cash equivalents are short-term in nature with original maturities of three months or less; the carrying amount approximates fair value. Certificates of deposits having original terms of six-months or less; carrying value generally approximates fair value. Certificate of deposits with an original maturity of six months or greater the fair value is derived from discounted cash flows.

(b) Securities (Held-to-Maturity)

The estimated fair values for substantially all of our securities are obtained from an independent nationally recognized pricing service.  The independent pricing service utilizes market prices of same or similar securities whenever such prices are available.  Prices involving distressed sellers are not utilized in determining fair value.  Where necessary, the independent third-party pricing service estimates fair value using models employing techniques such as discounted cash flow analyses.  The assumptions used in these models typically include assumptions for interest rates, credit losses, and prepayments, utilizing market observable data where available.

(c) Federal Home Loan Bank of New York Stock

The fair value for FHLB of New York stock is its carrying value, since this is the amount for which it could be redeemed and there is no active market for this stock.

(d) Loans (Held-for-Investment)

Fair values are estimated for portfolios of loans with similar financial characteristics.  Loans are segregated by type such as originated and purchased, and further segregated by residential mortgage, construction, land, multifamily, commercial and consumer.  Each loan category is further segmented into amortizing and non-amortizing and fixed and adjustable rate interest terms and by performing and non-performing categories.  The fair value of loans is estimated by discounting the future cash flows using current prepayment assumptions and current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.  This method of estimating fair value does not incorporate the exit price concept of fair value prescribed by the FASB ASC Topic for Fair Value Measurements and Disclosures, which would also consider adjustments for other factors such as liquidity and credit quality. The fair value would be affected significantly by these other factors.

(e) Loans (Held-for-Sale)

Held-for-sale loans are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore fair value is equal to carrying value.

(f) Deposits

The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, NOW and money market accounts, is equal to the amount payable on demand.  The fair value of certificates of deposit is based on the discounted value of contractual cash flows.  The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

(g) Commitments to Extend Credit and Standby Letters of Credit

The fair value of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties.  For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of off-balance-sheet commitments is insignificant and therefore not included in the following table.

(h) Borrowings

The fair value of borrowings is estimated by discounting future cash flows based on rates currently available for debt with similar terms and remaining maturity.

(i) Advance Payments by Borrowers for Taxes and Insurance

Advance payments by borrowers for taxes and insurance have no stated maturity; the fair value is equal to the amount currently payable.

The estimated fair values of the Company’s significant financial instruments at December 31, 2016 and 2015, are presented in the following table (in thousands):

	December 31, 2016
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	96,085	$	96,085	$	—	$	—	$	96,085
Trading securities	7,857		7,857		—		—		7,857
Securities available-for-sale	498,897		271		498,626		—		498,897
Securities held-to-maturity	10,148		—		10,118		—		10,118
FHLB of New York stock, at cost	25,123		—		25,123		—		25,123
Net loans held-for-investment	2,943,489		—		—		2,970,438		2,970,438
Financial liabilities:
Deposits	$	2,713,587	$	—	$	2,720,176	$	—	$	2,720,176
Repurchase agreements and other borrowings	473,206		—		472,387		—		472,387
Advance payments by borrowers	12,331		—		12,331		—		12,331

	December 31, 2015
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	51,853	$	51,853	$	—	$	—	$	51,853
Trading securities	6,713		6,713		—		—		6,713
Securities available-for-sale	541,595		481		541,114		—		541,595
Securities held-to-maturity	10,346		—		10,369		—		10,369
FHLB of New York stock, at cost	25,803		—		25,803		—		25,803
Net loans held-for-investment	2,348,945		—		—		2,375,028		2,375,028
Financial liabilities:
Deposits	$	2,052,929	$	—	$	2,058,894	$	—	$	2,058,894
Repurchase agreements and other borrowings	558,129		—		557,537		—		557,537
Advance payments by borrowers	10,862		—		10,862		—		10,862

Limitations

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument.  These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument.  Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors.  These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with a high degree of precision.  Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

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Stock Repurchase Program

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Stock Repurchase Program

Stock Repurchase Program

All of the Company's share repurchase programs permit shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The number of shares remaining to be purchased is calculated utilizing the remaining approved repurchase amount divided by the closing price of the stock on that day. There were no shares remaining to be purchased at December 31, 2016 or 2015.

On May 27, 2015, the Company’s Board of Directors authorized an increase to its stock repurchase plan in the amount of up to $15.0 million.

During 2014, the Company's Board of Directors authorized the repurchase of up to $170.0 million of the Company's common stock.

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Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share for the periods indicated (in thousands, except share data):  

	December 31,
	2016		2015		2014
Net income available to common stockholders	$	26,130	$	19,531	$	20,266
Weighted average shares outstanding-basic	44,374,389		42,285,712		49,006,129
Effect of non-vested restricted stock and stock options outstanding	1,343,498		1,192,769		1,026,130
Weighted average shares outstanding-diluted	45,717,887		43,478,481		50,032,259
Earnings per share-basic	$	0.59	$	0.46	$	0.41
Earnings per share-diluted	$	0.57	$	0.45	$	0.41
Anti-dilutive shares	777,733		2,679,507		1,471,303

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Parent-Only Financial Information

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent-Only Financial Information

Parent-only Financial Information

The following condensed parent company only financial information reflects Northfield Bancorp, Inc.’s investment in its wholly-owned consolidated subsidiary, Northfield Bank, using the equity method of accounting. 

Northfield Bancorp, Inc.

Condensed Balance Sheets

	December 31,
	2016		2015
	(in thousands)
Assets
Cash in Northfield Bank	$	8,953	$	22,504
Interest-earning deposits in other financial institutions	21		21
Investment in Northfield Bank	588,856		511,283
ESOP loan receivable	25,043		26,012
Other assets	118		516
Total assets	$	622,991	$	560,336
Liabilities and Stockholders' Equity
Total liabilities	$	1,795	$	557
Total stockholders' equity	621,196		559,779
Total liabilities and stockholders' equity	$	622,991	$	560,336

Northfield Bancorp, Inc.

Condensed Statements of Comprehensive Income (Loss)

	Years Ended
	December 31,
	2016			2015			2014
	(in thousands)
Interest on ESOP loan	$	913		$	875		$	903
Interest income on deposit in Northfield Bank	31			51			251
Gain (loss) on securities transactions, net	4			(4		)	(2		)
Undistributed earnings of Northfield Bank	26,303			19,718			20,331
Total income	27,251			20,640			21,483
Other expenses	936			891			956
Income tax expense	185			218			261
Total expense	1,121			1,109			1,217
Net income	$	26,130		$	19,531		$	20,266
Comprehensive income:
Net income	$	26,130		$	19,531		$	20,266
Other comprehensive (loss) income, net of tax	(1,346		)	(2,221		)	3,885
Comprehensive income	$	24,784		$	17,310		$	24,151

Northfield Bancorp, Inc.

Condensed Statements of Cash Flows

	December 31,
	2016			2015			2014
	(in thousands)
Cash flows from operating activities
Net income	$	26,130		$	19,531		$	20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in other assets	(1,998		)	(453		)	(969		)
Increase (decrease) in other liabilities	1,238			377			(362		)
Undistributed earnings of Northfield Bank	(26,303		)	(19,718		)	(20,329		)
Net cash used in operating activities	(933		)	(263		)	(1,394		)
Cash flows from investing activities
Cash consideration paid for business acquisition	(13,644		)	—			—
Dividends from Northfield Bank	14,700			25,900			66,274
Net cash provided by investing activities	1,056			25,900			66,274
Cash flows from financing activities
Principal payments on ESOP loan receivable	969			922			865
Purchase of treasury stock	(2,201		)	(48,446		)	(138,702		)
Dividends paid	(14,074		)	(12,184		)	(12,884		)
Exercise of stock options	120			158			212
Additional tax benefit on stock awards	1,512			122			390
Net cash used in financing activities	(13,674		)	(59,428		)	(150,119		)
Net decrease in cash and cash equivalents	(13,551		)	(33,791		)	(85,239		)
Cash and cash equivalents at beginning of year	22,525			56,316			141,555
Cash and cash equivalents at end of year	$	8,974		$	22,525		$	56,316

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Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

Selected Quarterly Financial Data (Unaudited)

The following tables are a summary of certain quarterly financial data for the years endedDecember 31, 2016and2015:

	2016 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	30,169		$	31,168	$	31,525	$	32,110
Interest expense	5,441			5,527		5,274		5,426
Net interest income	24,728			25,641		26,251		26,684
Provision (recoveries) for loan losses	(131		)	14		472		280
Net interest income after provision for loan losses	24,859			25,627		25,779		26,404
Other income	2,229			2,533		2,667		2,643
Other expenses	21,499			17,494		17,377		16,576
Income before income tax  expense	5,589			10,666		11,069		12,471
Income tax  expense	1,929			3,681		3,782		4,273
Net income	$	3,660		$	6,985	$	7,287	$	8,198
Net income per basic common share	$	0.08		$	0.16	$	0.16	$	0.18
Net income per diluted common share	$	0.08		$	0.15	$	0.16	$	0.18
	2015 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	24,753		$	25,037	$	25,570	$	26,398
Interest expense	4,769			4,752		4,997		5,170
Net interest income	19,984			20,285		20,573		21,228
Provision (recoveries) for loan losses	200			72		200		(119		)
Net interest income after provision for loan losses	19,784			20,213		20,373		21,347
Other income	2,104			2,006		1,666		2,122
Other expenses	14,300			14,514		14,847		14,448
Income before income tax  expense	7,588			7,705		7,192		9,021
Income tax  expense	2,586			3,410		2,515		3,464
Net income	$	5,002		$	4,295	$	4,677	$	5,557
Net income per basic common share	$	0.11		$	0.10	$	0.11	$	0.13
Net income per diluted common share	$	0.11		$	0.10	$	0.11	$	0.13

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Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Plan of Conversion and Reorganization

Plan of Conversion and Reorganization

On June 6, 2012, the Board of Trustees of Northfield Bancorp, MHC (MHC) and the Board of Directors of the Company adopted a Plan of Conversion and Reorganization (the Plan).  Pursuant to the Plan, the MHC converted from the mutual holding company form of organization to the fully public form on January 24, 2013.  The MHC merged into the Company, and the MHC no longer exists.  The Company merged into a new Delaware corporation named Northfield Bancorp, Inc.  As part of the conversion, the MHC’s ownership interest of the Company was offered for sale in a public offering.  The existing publicly held shares of the Company, which represented the remaining ownership interest in the Company, were exchanged for new shares of common stock of Northfield Bancorp, Inc., the new Delaware corporation.  The exchange ratio ensured that immediately after the conversion and public offering, the public shareholders of the Company owned the same aggregate percentage of Northfield Bancorp., Inc. common stock that they owned immediately prior to that time (excluding shares purchased in the stock offering and cash received in lieu of fractional shares).  When the conversion and public offering was completed, all of the capital stock of Northfield Bank was owned by Northfield Bancorp, Inc., the Delaware corporation.

The Plan provided for the establishment of special “liquidation accounts” for the benefit of certain depositors of Northfield Bank (the “Bank”) in an amount equal to the greater of the MHC’s ownership interest in the retained earnings of the Company as of the date of the latest balance sheet contained in the prospectus or the retained earnings of Northfield Bank at the time it reorganized into the MHC.  Following the completion of the conversion, under the rules of the Board of Governors of the Federal Reserve System, Northfield Bank is not permitted to pay dividends on its capital stock to Northfield Bancorp, Inc., its sole shareholder, if Northfield Bank’s shareholder’s equity would be reduced below the amount of the liquidation accounts.  The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits.  Subsequent increases in qualifying deposits will not restore an eligible account holder’s interest in the liquidation accounts.

Basis of Presentation

Basis of Presentation

The consolidated financial statements are comprised of the accounts of Northfield Bancorp, Inc. and its wholly owned subsidiaries, Northfield Investment, Inc. and the Bank, and the Bank’s wholly-owned significant subsidiaries, NSB Services Corp. and NSB Realty Trust.  All significant intercompany accounts and transactions have been eliminated in consolidation.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheets and revenues and expenses during the reporting periods.  Actual results may differ significantly from those estimates and assumptions.  A material estimate that is particularly susceptible to significant change in the near term is the allowance for loan losses.  In connection with the determination of this allowance, management generally obtains independent appraisals for significant properties.  In addition, judgments related to the amount and timing of expected cash flows from PCI loans, goodwill, securities valuation and impairment, and deferred income taxes, involve a higher degree of complexity and subjectivity and require estimates and assumptions about highly uncertain matters.  Actual results may differ from the estimates and assumptions. 

Certain prior years' amounts have been reclassified to conform to the current year presentation.

Business

Business

The Company, through its principal subsidiary, the Bank, provides a full range of banking services primarily to individuals and corporate customers in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey.  The Company is subject to competition from other financial institutions and to the regulations of certain federal and state agencies, and undergoes periodic examinations by those regulatory authorities.

Cash Equivalents

Cash Equivalents

Cash equivalents consist of cash on hand, due from banks, and interest-bearing deposits in other financial institutions with an original term of three months or less. 

Securities

Securities

Securities are classified at the time of purchase, based on management’s intention, as securities held-to-maturity, securities available-for-sale, or trading account securities.  Securities held-to-maturity are those that management has the positive intent and ability to hold until maturity.  Securities held-to-maturity are carried at amortized cost, adjusted for amortization of premiums and accretion of discounts using the level-yield method over the contractual term of the securities, adjusted for actual prepayments.  Securities available-for-sale represents all securities not classified as either held-to-maturity or trading.  Securities available-for-sale are carried at estimated fair value with unrealized holding gains and losses (net of related tax effects) on such securities excluded from earnings, but included as a separate component of stockholders’ equity, titled “Accumulated other comprehensive income (loss).”  The cost of securities sold is determined using the specific-identification method.  Security transactions are recorded on a trade-date basis. Trading securities are securities that are bought and may be held for the purpose of selling them in the near term.  Trading securities are reported at estimated fair value, with unrealized holding gains and losses reported as a component of gain (loss) on securities transactions, net in non-interest income.

Our evaluation of other-than-temporary impairment considers our assessments of the reason for the decline in value, the duration and severity of the impairment, our intent and ability to hold the securities (as well as the likelihood of a near-term recovery), and our intent to sell the securities and whether it is more likely than not that we will be required to sell the securities before the recovery of their amortized cost basis.  If a determination is made that a debt security is other-than-temporarily impaired, the Company will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors.  If we intend to hold securities in an unrealized loss position until the loss is recovered, which may be at maturity, the credit related component will be recognized as an other-than-temporary impairment charge in non-interest income.  The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income (loss), net of tax.  The estimated fair value of debt securities, including mortgage-backed securities and corporate debt obligations is furnished by an independent third-party pricing service.  The third-party pricing service primarily utilizes pricing models and methodologies that incorporate observable market inputs, including among other things, benchmark yields, reported trades, and projected prepayment and default rates.  Management reviews the data and assumptions used in pricing the securities by its third-party provider for reasonableness.

Loans

Loans

The accounting and reporting for PCI loans and loans classified as held-for-sale differs substantially from those loans originated and classified by the Company as held-for-investment.  For purposes of reporting, discussion and analysis, management has classified its loan portfolio into four categories:  (1) loans originated by the Company and held-for-sale, which are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore have no associated allowance for loan losses, (2) PCI loans, which are held-for-investment, and initially valued at estimated fair value on the date of acquisition, with no initial related allowance for loan losses, (3) originated loans held-for-investment, which are carried at amortized cost, less net charge-offs and the allowance for loan losses, and (4) acquired loans with no evidence of credit deterioration, which are held-for-investment, and initially valued at an estimated fair value on the date of acquisition, with no initial related allowance for loan losses.

Originated and acquired net loans held-for-investment are stated at unpaid principal balance, adjusted by unamortized premiums and unearned discounts, deferred origination fees and certain direct origination costs, and the allowance for loan losses.  Interest income on loans is accrued and credited to income as earned.  Net loan origination fees/costs are deferred and accreted/amortized to interest income over the loan’s contractual life using the level-yield method, adjusted for actual prepayments.  Generally, loans held-for-sale are designated at time of origination and generally consist of  newly originated fixed rate residential loans and are recorded at the lower of aggregate cost or estimated fair value in the aggregate.  Transfers of loans from held-for-investment to held-for-sale are infrequent and occur at fair value less costs to sell, with any charge-off to allowance for loan losses. Gains are recognized on a settlement-date basis and are determined by the difference between the net sales proceeds and the carrying value of the loans, including any net deferred fees or costs.

Originated and acquired net loans held-for-investment are deemed impaired when it is probable, based on current information, that the Company will not collect all amounts due in accordance with the contractual terms of the loan agreement.  The Company has defined the population of originated and acquired impaired loans to be all originated and acquired non-accrual loans held-for-investment with an outstanding balance of $500,000 or greater and all loans restructured in troubled debt restructurings (TDRs).  Originated and acquired impaired loans held-for-investment are individually assessed to determine that the loan’s carrying value is not in excess of the expected future cash flows, discounted at the loan's original effective interest rate, or the fair value of the underlying collateral (less estimated costs to sell) if the loan is collateral dependent.  Impairments, if any, are recognized through a charge to the allowance for loan losses for the amount that the loan’s carrying value exceeds the discounted cash flow analysis or estimated fair value of collateral (less estimated costs to sell) if the loan is collateral dependent.  Such amounts are charged-off when considered appropriate.  

The allowance for loan losses is increased by the provision for loan losses charged against income and is decreased by charge-offs, net of recoveries.  Loan losses are charged-off in the period the loans, or portion thereof, are deemed uncollectible.  Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated fair value of the underlying collateral, less cost to sell, if it is determined that it is probable that recovery will come primarily from the sale or operation of such collateral.  Specific reserves on impaired loans that are not considered collateral dependent are charged-off when such amounts are not considered to be collectible.  The provision for loan losses is based on management’s evaluation of the adequacy of the allowance that considers, among other things, impaired loans held-for-investment, deterioration in PCI loans subsequent to acquisition, past loan loss experience, known and inherent risks in the portfolio, and existing adverse situations that may affect borrowers’ ability to repay.  Additionally, management evaluates changes, if any, in underwriting standards, collection, charge-off and recovery practices, the nature or volume of the portfolio, lending staff, concentration of loans, as well as current economic conditions, and other relevant factors.  Management believes the allowance for loan losses is adequate to provide for probable and reasonably estimable incurred losses at the date of the consolidated balance sheets.  The Company also maintains an allowance for estimated losses on off-balance sheet credit risks related to loan commitments and standby letters of credit.  Management utilizes a methodology similar to its allowance for loan loss adequacy methodology to estimate losses on these commitments.  The allowance for estimated credit losses on off-balance sheet commitments is included in other liabilities and any changes to the allowance are recorded as a component of other non-interest expense.

While management uses available information to estimate probable and reasonably estimable incurred losses on loans, future additions may be necessary based on changes in conditions, including changes in economic conditions, particularly in Richmond and Kings counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey and to a lesser extent eastern Pennsylvania.  Accordingly, as with most financial institutions in the market area, the ultimate collectability of a substantial portion of the Company’s loan portfolio is susceptible to changes in conditions in the Company’s marketplace.  In addition, future changes in laws and regulations could make it more difficult for the Company to collect all contractual amounts due on its loans and mortgage-backed securities.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses.  Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

TDRs are loans where terms have been modified because of deterioration in the financial condition of the borrower.  Modifications could include extension of the repayment terms of the loan, reduced interest rates, or forgiveness of accrued interest and/or principal.  Once an obligation has been restructured because of such credit problems, it continues to be considered restructured until paid in full or, if the obligation yields a market rate (a rate equal to the rate the Company was willing to accept at the time of the restructuring for a new loan with comparable risk), until the year subsequent to the year in which the restructuring takes place, provided the borrower has performed under the modified terms for a six-month period.  The Company records an impairment charge equal to the difference between the present value of estimated future cash flows under the restructured terms discounted at the original loan’s effective interest rate, or the underlying collateral value less costs to sell, if the loan is collateral dependent.  Changes in present values attributable to the passage of time are recorded as a component of the provision for loan losses. 

A loan is considered past due when it is not paid in accordance with its contractual terms.  The accrual of income on loans, including impaired loans held-for-investment, and other loans in the process of foreclosure, is generally discontinued when a loan becomes 90 days or more delinquent, or sooner when certain factors indicate that the ultimate collection of principal and interest is in doubt.  Loans on which the accrual of income has been discontinued are designated as non-accrual loans.  All previously accrued interest is reversed against interest income, and income is recognized subsequently only in the period that cash is received, provided no principal payments are due and the remaining principal balance outstanding is deemed collectible.  A non-accrual loan is not returned to accrual status until both principal and interest payments are brought current and factors indicating doubtful collection no longer exist, including performance by the borrower under the loan terms for a consecutive six-month period.

The Company accounts for the PCI loans based on expected cash flows. In accordance with current accounting guidance, the Company will maintain the integrity of a pool of multiple loans accounted for as a single asset and evaluate the pools for impairment, and accrual status, based on variances from the expected cash flows.

Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

The Bank, as a member of the Federal Home Loan Bank (FHLB) of New York, is required to hold shares of capital stock in the FHLB as a condition to both becoming a member and engaging in certain transactions with the FHLB.  The minimum investment requirement is determined by a “membership” investment component and an “activity-based” investment component.  The membership investment component is the greater of 0.20% of the Bank’s mortgage-related assets, as defined by the FHLB, or $1,000.  The activity-based investment component is equal to 4.5% of the Bank’s outstanding advances with the FHLB.  The activity-based investment component also considers other transactions, including assets originated for or sold to the FHLB, and delivery commitments issued by the FHLB.  The Company currently does not enter into these other types of transactions with the FHLB. 

On a quarterly basis, we perform our other-than-temporary impairment analysis of FHLB stock, we evaluate, among other things, (i) its earnings performance, including the significance of any decline in net assets of the FHLB as compared to the regulatory capital amount of the FHLB, (ii) the commitment by the FHLB to continue dividend payments, and (iii) the liquidity position of the FHLB.  We did not consider our investment in FHLB stock to be other-than-temporarily impaired at December 31, 2016 and 2015.

Premises and Equipment, Net

Premises and Equipment, Net

Premises and equipment, including leasehold improvements, are carried at cost, less accumulated depreciation and amortization.  Depreciation and amortization of premises and equipment, including capital leases, are computed on a straight-line basis over the estimated useful lives of the related assets.  The estimated useful lives of significant classes of assets are generally as follows: buildings - forty years; furniture and equipment - five to seven years; and purchased computer software - three years.  Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful lives of the improvements.  Major improvements are capitalized, while repairs and maintenance costs are charged to operations as incurred.  Upon retirement or sale, any gain or loss is credited or charged to operations.

Bank Owned Life Insurance

Bank Owned Life Insurance

The Company has purchased bank owned life insurance contracts to help fund its obligations for certain employee benefit costs.  The Company’s investment in such insurance contracts has been reported in the consolidated balance sheets at their cash surrender values.  Changes in cash surrender values and death benefit proceeds received in excess of the related cash surrender values are recorded as non-interest income.

Goodwill

Goodwill

Intangible assets resulting from acquisitions under the purchase method of accounting consist of goodwill and other intangible assets.  Goodwill is not amortized and is subject to an annual assessment for impairment. The goodwill impairment analysis is generally a two-step test. However, under current accounting guidance, first we may assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under current accounting guidance, we are not required to calculate the fair value of a reporting unit if, based on a qualitative assessment, we determine that it was more likely than not that the unit’s fair value was not less than its carrying amount. During 2016, we elected to perform step one of the two-step goodwill impairment test for our reporting unit, but we may choose to perform the optional quantitative assessment in future periods.

Goodwill is allocated to Northfield’s reporting unit at the date goodwill is actually recorded. If the carrying value of a reporting unit exceeds its estimated fair value, a second step in the analysis is performed to determine the amount of impairment, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying value of a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded equal to the excess amount in the current period earnings.

As of December 31, 2016, the carrying value of goodwill totaled $38.4 million.  The Company performed its annual goodwill impairment test, as of December 31, 2016, and determined that the fair value of the Company’s single reporting unit to be in excess of its carrying value.  The Company will test goodwill for impairment between annual test dates if an event occurs or circumstances change that would indicate the fair value of the reporting unit is below its carrying amount. No events have occurred and no circumstances have changed since the annual impairment test date that would indicate the fair value of the reporting unit is below its carrying amount.

Income Taxes

Income Taxes

Income taxes are accounted for under the asset and liability method.  Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled.  When applicable, deferred tax assets are reduced by a valuation allowance for any portions determined not likely to be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Income tax benefits are recognized and measured based upon a two-step model: 1) a tax position must be more-likely-than-not to be sustained based solely on its technical merits in order to be recognized, and 2) the benefit is measured as the largest dollar amount of that position that is more-likely-than-not to be sustained upon settlement. The difference between the benefit recognized and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. The Company records income tax-related interest and penalties, if applicable, within income tax expense.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted (and without interest) net cash flows expected to be generated by the asset.  If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.

Securities Sold Under Agreements to Repurchase and Other Borrowings

Securities Sold Under Agreements to Repurchase and Other Borrowings

The Company enters into sales of securities under agreements to repurchase (Repurchase Agreements) and collateral pledge agreements (Pledge Agreements) with selected dealers and banks.  Such agreements are accounted for as secured financing transactions since the Company maintains effective control over the transferred or pledged securities and the transfer meets the other accounting and recognition criteria as required by the transfer and servicing topic of the Financial Accounting Standards Board (FASB) Accounting Standards.  Obligations under these agreements are reflected as a liability in the consolidated balance sheets.  Securities underlying the agreements are maintained at selected dealers and banks as collateral for each transaction executed and may be sold or pledged by the counterparty.  Collateral underlying Repurchase Agreements that permit the counterparty to sell or pledge the underlying collateral is disclosed on the consolidated balance sheets as “encumbered.”  The Company retains the right under all Repurchase Agreements and Pledge Agreements to substitute acceptable collateral throughout the terms of the agreement.

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Comprehensive income (loss) includes net income and the change in unrealized holding gains and losses on securities available-for-sale, change in actuarial gains and losses on other post retirement benefits, and change in service cost on other postretirement benefits, net of taxes.  Comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income.

Benefits

Benefits

The Company sponsors a defined postretirement benefit plan that provides for medical and life insurance coverage to a limited number of retirees, as well as life insurance to all qualifying employees of the Company.  The estimated cost of postretirement benefits earned is accrued during an individual’s estimated service period to the Company. The Company recognizes in its balance sheet the over-funded or under-funded status of a defined benefit postretirement plan measured as the difference between the fair value of plan assets and the benefit obligation at the end of our calendar year.  The actuarial gains and losses and the prior service costs and credits that arise during the period are recognized as a component of other comprehensive income (loss), net of tax.    

Funds borrowed by the Employee Stock Ownership Plan (the “ESOP”) from the Company to purchase the Company’s common stock are being repaid from the Bank’s contributions over a period of up to 30 years.  The Company’s common stock not yet allocated to participants is recorded as a reduction of stockholders’ equity at cost.  The Company records compensation expense related to the ESOP at an amount equal to the shares committed to be released by the ESOP multiplied by the average fair value of our common stock during the reporting period.

The Company recognizes the grant-date fair value of stock based awards issued to participants' as compensation cost in the consolidated statements of comprehensive income (loss).  The fair value of common stock awards is based on the closing price of our common stock as reported on the NASDAQ Stock Market on the grant date.  The expense related to stock options is based on the estimated fair value of the options at the date of the grant using the Black-Scholes pricing model.  The awards are fixed in nature and compensation cost related to stock based awards is recognized on a straight-line basis over the requisite service periods.

The Bank has a 401(k) plan covering substantially all employees.  Contributions to the plan are expensed as incurred.

Segment Reporting

Segment Reporting

As a community-focused financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers.  Management makes operating decisions and assesses performance based on an ongoing review of these community banking operations, which constitute the Company’s only operating segment for financial reporting purposes. 

Net Income per Common Share

Net Income per Common Share

Net income per common share-basic is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding, excluding unallocated ESOP shares and unearned common stock award shares.  The weighted average common shares outstanding includes the average number of shares of common stock outstanding, including shares allocated or committed to be released ESOP shares.

Net income per common share-diluted is computed using the same method as basic earnings per share, but reflects the potential dilution that could occur if stock options and unvested shares of restricted stock were exercised and converted into common stock.  These potentially dilutive shares are included in the weighted average number of shares outstanding for the period using the treasury stock method.  When applying the treasury stock method, we add: (1) the assumed proceeds from option exercises; (2) the tax benefit, if any, that would be credited to additional paid-in capital assuming exercise of non-qualified stock options and vesting of shares of restricted stock; and (3) the average unamortized compensation costs related to unvested shares of restricted stock and stock options.  We then divide this sum by our average stock price for the period to calculate assumed shares repurchased.  The excess of the number of shares issuable over the number of shares assumed to be repurchased is added to basic weighted average common shares to calculate diluted earnings per share.

Other Real Estate Owned

Other Real Estate Owned

Assets acquired through loan foreclosure, or deed-in-lieu of, are held for sale and are initially recorded at estimated fair value less estimated selling costs when acquired, thus establishing a new cost basis.  Costs after acquisition are generally expensed.  If the estimated fair value of the asset subsequently declines, a write-down is recorded through other non-interest expense.

Recent Accounting Developments

Recent Accounting Developments

In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. Prior to this pronouncement there was no guidance on how to present restricted cash and cash equivalents in the Statement of Cash Flows. ASU No. 2016-18 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In August 2016, the FASB issued Accounting Standards Update (ASU) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which provides guidance on the classification of certain cash receipts and payments within the statement of cash flows. ASU No. 2016-15 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is required to be applied retrospectively to all periods presented beginning in the year of adoption. Since the ASU only impacts classification on the statements of cash flows, adoption will not affect the Company's consolidated financial position, results of operations or its cash and cash equivalents.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires credit losses on most financial assets measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (CECL) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. Current US GAAP is based on an incurred loss model that delays recognition of credit losses until it is probable the loss has been incurred. Accordingly, it is anticipated that credit losses will be recognized earlier under the CECL model than under the incurred loss model. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements, but the extent of the effect is indeterminable at this time as it will be dependent upon the nature and characteristics of the Company's loan portfolio at the adoption date, as well as economic conditions and forecasts at that date.

In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which includes provisions to simplify certain aspects related to the accounting for share-based awards and the related financial statement presentation. The ASU includes a requirement that the tax effect related to the settlement of share-based awards be recorded in income tax benefit or expense in the statements of earnings. This change is required to be adopted prospectively in the period of adoption. In addition, the ASU modifies the classification of certain share-based payment activities within the statements of cash flows and these changes are required to be applied retrospectively to all periods presented, or in certain cases prospectively, beginning in the period of adoption. ASU No. 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and the Company will adopt it in the first quarter of 2017. The impact of ASU No. 2016-09 on the Company's results of operations in future periods is dependent upon, among other things, the level of earnings and stock price of the Company, but assuming we continue to be in an excess tax benefit position, adoption will result in a reduction to tax expense due to the recognition of excess tax benefits as an income tax benefit rather than in additional paid-in capital.

     In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), which is intended to increase transparency and comparability of accounting for lease transactions. The ASU will require all leases to be recognized on the balance sheet as lease assets and lease liabilities and will require both quantitative and qualitative disclosures regarding key information about leasing arrangements. Lessor accounting is largely unchanged. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. The Company is currently evaluating the potential effect of adoption of this pronouncement on its consolidated financial statements.

In January 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. ASU No. 2016-01 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments, which requires that adjustments to provisional amounts that are identified during the measurement period of a business combination be recognized in the reporting period in which the adjustment amounts are determined. Furthermore, the income statement effects of such adjustments, if any, must be calculated as if the accounting had been completed at the acquisition date. Under previous guidance, adjustments to provisional amounts identified during the measurement period were to be recognized retrospectively. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The adoption of this pronouncement is not expected to have a material effect on the Company's consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will be effective for interim and annual periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance in U.S. GAAP. The Company does not expect the guidance to have a material effect on its consolidated financial statements as the ASU is not applicable to financial instruments and, therefore, will not affect the majority of the Company's revenues.

In January 2014, the FASB issued ASU No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which clarifies that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (i) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (ii) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the ASU requires interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 was effective for annual and interim periods beginning after December 15, 2014 and the adoption of this pronouncement did not have a material effect on the Company’s consolidated financial statements.

Fair Value Measurement

Fair Value of Measurement

The following table presents the assets reported on the consolidated balance sheet at their estimated fair value as of December 31, 2016 and 2015, by level within the Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification.  Financial assets and liabilities are classified in their entirety based on the level of input that is significant to the fair value measurement.  The fair value hierarchy is as follows: 

• Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

• Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means.

• Level 3 Inputs – Significant unobservable inputs that reflect the Company’s own assumptions that market participants would use in pricing the assets or liabilities.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The FASB Accounting Standards Topic forFinancial Instrumentsrequires disclosure of the fair valueof financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring or non-recurring basis.  The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above.  The following methods and assumptions were used to estimate the fair value of other financial assets and financial liabilities not already discussed above:

(a) Cash, Cash Equivalents, and Certificates of Deposit

Cash and cash equivalents are short-term in nature with original maturities of three months or less; the carrying amount approximates fair value. Certificates of deposits having original terms of six-months or less; carrying value generally approximates fair value. Certificate of deposits with an original maturity of six months or greater the fair value is derived from discounted cash flows.

(b) Securities (Held-to-Maturity)

The estimated fair values for substantially all of our securities are obtained from an independent nationally recognized pricing service.  The independent pricing service utilizes market prices of same or similar securities whenever such prices are available.  Prices involving distressed sellers are not utilized in determining fair value.  Where necessary, the independent third-party pricing service estimates fair value using models employing techniques such as discounted cash flow analyses.  The assumptions used in these models typically include assumptions for interest rates, credit losses, and prepayments, utilizing market observable data where available.

(c) Federal Home Loan Bank of New York Stock

The fair value for FHLB of New York stock is its carrying value, since this is the amount for which it could be redeemed and there is no active market for this stock.

(d) Loans (Held-for-Investment)

Fair values are estimated for portfolios of loans with similar financial characteristics.  Loans are segregated by type such as originated and purchased, and further segregated by residential mortgage, construction, land, multifamily, commercial and consumer.  Each loan category is further segmented into amortizing and non-amortizing and fixed and adjustable rate interest terms and by performing and non-performing categories.  The fair value of loans is estimated by discounting the future cash flows using current prepayment assumptions and current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.  This method of estimating fair value does not incorporate the exit price concept of fair value prescribed by the FASB ASC Topic for Fair Value Measurements and Disclosures, which would also consider adjustments for other factors such as liquidity and credit quality. The fair value would be affected significantly by these other factors.

(e) Loans (Held-for-Sale)

Held-for-sale loans are carried at the lower of aggregate cost or estimated fair value, less costs to sell, and therefore fair value is equal to carrying value.

(f) Deposits

The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, NOW and money market accounts, is equal to the amount payable on demand.  The fair value of certificates of deposit is based on the discounted value of contractual cash flows.  The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

(g) Commitments to Extend Credit and Standby Letters of Credit

The fair value of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties.  For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of off-balance-sheet commitments is insignificant and therefore not included in the following table.

(h) Borrowings

The fair value of borrowings is estimated by discounting future cash flows based on rates currently available for debt with similar terms and remaining maturity.

(i) Advance Payments by Borrowers for Taxes and Insurance

Advance payments by borrowers for taxes and insurance have no stated maturity; the fair value is equal to the amount currently payable.

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Business Combination (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition for Hopewell Valley (in thousands):

ASSETS ACQUIRED:	January 8, 2016
Cash and cash equivalents, net	$	55,479
Securities available for sale	61,633
Loans	342,566
Accrued interest receivable	1,452
Bank-owned life insurance	11,269
Premises and equipment	5,926
Federal Home Loan Bank of New York stock, at cost	476
Goodwill	22,252
Other intangible assets	2,013
Other assets	5,389
Total assets acquired	$	508,455
LIABILITIES ASSUMED:
Deposits	$	456,203
Other borrowings	2,213
Other liabilities	8,318
Total liabilities assumed	$	466,734
Net assets acquired	$	41,721

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Securities Available-For-Sale (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Comparative Summary Of Mortgage-Backed Securities And Other Securities Available-For-Sale

The following is a comparative summary of mortgage-backed securities, debt securities and other securities available-for-sale at December 31, 2016 and 2015 (in thousands):  

	2016
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
Government sponsored enterprises (GSE)	$	225,047	$	2,800	$	3,298	$	224,549
Real estate mortgage investment conduits (REMICs):
GSE	230,500		259		6,466		224,293
Non-GSE	280		—		10		270
	455,827		3,059		9,774		449,112
Debt securities:
Municipal bonds	2,151		13		6		2,158
Corporate bonds	45,373		150		364		45,159
	47,524		163		370		47,317
Other securities
Equity investments - mutual funds	1,233		—		15		1,218
Other	1,250		—		—		1,250
	2,483		—		15		2,468
Total securities available-for-sale	$	505,834	$	3,222	$	10,159	$	498,897

	2015
			Gross		Gross		Estimated
	Amortized		unrealized		unrealized		fair
	cost		gains		losses		value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	228,557	$	4,673	$	1,530	$	231,700
REMICs:
GSE	305,387		647		8,210		297,824
Non-GSE	597		—		18		579
	534,541		5,320		9,758		530,103
Debt securities:
Corporate bonds	11,002		9		—		11,011
Other securities:
Equity investments-mutual funds	481		—		—		481
Total securities available-for-sale	$	546,024	$	5,329	$	9,758	$	541,595

Summary Of Expected Maturity Distribution Of Debt Securities Available-For-Sale, Other Than Mortgage-Backed Securities

The following is a summary of the expected maturity distribution of debt securities available-for-sale other than mortgage-backed securities at December 31, 2016 (in thousands): 

Available-for-sale	Amortized cost		Estimated fair value
Due in one year or less	$	1,735	$	1,730
Due after one year through five years	40,695		40,425
Due after five years through ten years	5,094		5,162
	$	47,524	$	47,317

Gross Unrealized Losses On Mortgage-Backed Securities

Gross unrealized losses on mortgage-backed securities, debt securities and other securities available-for-sale, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands): 

	December 31, 2016
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	2,703	$	121,878	$	595	$	8,402	$	3,298	$	130,280
REMICs:
GSE	1,622		75,586		4,844		97,726		6,466		173,312
Non-GSE	—		—		10		270		10		270
Debt securities:
Municipal bonds	6		1,679		—		—		6		1,679
Corporate bonds	364		26,022		—		—		364		26,022
Other securities	15		947		—		—		15		947
Total	$	4,710	$	226,112	$	5,449	$	106,398	$	10,159	$	332,510

	December 31, 2015
	Less than 12 months				12 months or more				Total
	Unrealized		Estimated		Unrealized		Estimated		Unrealized		Estimated
	losses		fair value		losses		fair value		losses		fair value
Mortgage-backed securities:
Pass-through certificates:
GSE	$	115	$	14,424	$	1,415	$	52,120	$	1,530	$	66,544
REMICs:
GSE	338		31,937		7,872		164,666		8,210		196,603
Non-GSE					18		579		18		579
Total	$	453	$	46,361	$	9,305	$	217,365	$	9,758	$	263,726

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Securities Held-To-Maturity (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Summary Of Mortgage-Backed Securities Held-To-Maturity

The following is a summary of mortgage-backed securities held-to-maturity at December 31, 2016 and 2015 (in thousands): 

	2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,148	$	29	$	59	$	10,118
Total securities held-to-maturity	$	10,148	$	29	$	59	$	10,118

	2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	10,346	$	53	$	30	$	10,369
Total securities held-to-maturity	$	10,346	$	53	$	30	$	10,369

Held-to-maturity Securities

Gross unrealized losses on mortgage-backed securities held-to-maturity, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2016 and 2015, were as follows (in thousands):

	December 31, 2016
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	59	$	7,466
Total securities held-to-maturity	$	59	$	7,466

	December 31, 2015
	Less than 12 months
	Unrealized Losses		Estimated Fair Value
Mortgage-backed securities:
Pass-through certificates:
GSEs	$	30	$	3,901
Total securities held-to-maturity	$	30	$	3,901

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Loans (Tables)

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Net Loans Held-For-Investment

Loans held-for-investment, net, consists of the following (in thousands): 

	December 31,
	2016			2015
Real estate loans:
Multifamily	$	1,506,335		$	1,318,461
Commercial mortgage	412,667			402,073
One-to-four family residential mortgage	105,968			98,332
Home equity and lines of credit	65,437			61,413
Construction and land	14,065			18,652
Total real estate loans	2,104,472			1,898,931
Commercial and industrial loans	31,906			25,554
Other loans	1,497			2,256
Total commercial and industrial and other loans	33,403			27,810
Deferred loan cost, net	6,471			4,844
Originated loans held-for-investment, net	2,144,346			1,931,585
PCI Loans	30,498			33,115
Loans acquired:
One-to-four family residential mortgage	317,639			330,672
Multifamily	215,389			64,779
Commercial mortgage	188,001			11,160
Home equity and lines of credit	25,522			2,404
Construction and land	20,887			—
Total acquired real estate loans	767,438			409,015
Commercial and industrial loans	25,443			—
Other loans	359			—
Total loans acquired	793,240			409,015
Loans held for investment, net	2,968,084			2,373,715
Allowance for loan losses	(24,595		)	(24,770		)
Net loans held-for-investment	$	2,943,489		$	2,348,945

PCI Loans Acquired

The following table sets forth information regarding the estimates of the contractually required payments, the cash flows expected to be collected, and the estimated fair value of the PCI loans acquired from Hopewell Valley at January 8, 2016 (in thousands):

	January 8, 2016
Contractually required principal and interest at acquisition	$	16,580
Contractual cash flows not expected to be collected (non-accretable discount)	(9,929		)
Expected cash flows to be collected at acquisition	6,651
Interest component of expected cash flows (accretable discount)	(845		)
Fair value of acquired loans	$	5,806

Summary Of Changes In Accretable Yields Of Acquired Loans

The following details the accretable yield (in thousands):   

	For The Year Ended December 31,
	2016			2015
Balance at the beginning of year	$	22,853		$	27,943
Acquisition	845			—
Accretion into interest income	(5,225		)	(4,525		)
Net reclassification from/(to) non-accretable difference(1)	5,742			(565		)
Balance at end of year	$	24,215		$	22,853

_______________________

1) Due to re-casting of cash flows for loan pools acquired in the 2011 FDIC-assisted transaction. Reclassifications of the non-accretable difference to the accretable yield may occur subsequent to the loan acquisition dates due to increases in expected cash flows of the loans.

Activity In Allowance For Loan Losses

A summary of changes in the allowance for loan losses for the years ended December 31, 2016, 2015, and 2014 follows (in thousands): 

	December 31,
	2016			2015			2014
Balance at beginning of year	$	24,770		$	26,292		$	26,037
Provision for loan losses	635			353			645
Recoveries	194			140			402
Charge-offs	(1,004		)	(2,015		)	(792		)
Balance at end of year	$	24,595		$	24,770		$	26,292

Allowance For Loan Losses And Loans Receivable By Portfolio Segment

The following table sets forth activity in our allowance for loan losses, by loan type, for the years ended December 31, 2016 and 2015.  The following table also details the amount of loans receivable held-for-investment, net of deferred loan fees and costs, that are evaluated individually, and collectively, for impairment, and the related portion of allowance for loan losses that is allocated to each loan portfolio segment (in thousands):

	December 31, 2016
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans			Total
Allowance for loan losses:
Beginning Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115		$	24,770
Charge-offs	(638		)	(20		)	—			(278		)	—			(66		)	(2		)	—			(1,004		)	—		—			(1,004		)
Recoveries	181			2			—			—			2			4			5			—			194			—		—			194
Provisions (credit)	(1,217		)	(105		)	(89		)	2,843			(209		)	494			(62		)	(1,093		)	562			113		(40		)	635
Ending Balance	$	5,432		$	664		$	172		$	14,952		$	588		$	1,720		$	96		$	—		$	23,624		$	896	$	75		$	24,595
Ending balance: individually evaluated for impairment	$	64		$	66		$	—		$	95		$	23		$	5		$	—		$	—		$	253		$	—	$	75		$	328
Ending balance: collectively evaluated for impairment	$	5,368		$	598		$	172		$	14,857		$	565		$	1,715		$	96		$	—		$	23,371		$	896	$	—		$	24,267
Loans, net:
Ending Balance	$	413,352		$	106,524		$	14,092		$	1,510,100		$	66,767		$	32,013		$	1,498		$	—		$	2,144,346		$	30,498	$	793,240		$	2,968,084
Ending balance: individually evaluated for impairment	$	20,710		$	2,180		$	—		$	1,372		$	336		$	101		$	—		$	—		$	24,699		$	—	$	1,591		$	26,290
Ending balance: collectively evaluated for impairment	$	392,642		$	104,344		$	14,092		$	1,508,728		$	66,431		$	31,912		$	1,498		$	—		$	2,119,647		$	30,498	$	791,649		$	2,941,794

	December 31, 2015
	Real Estate
	Commercial			One-to-Four Family			Construction and Land			Multifamily			Home Equity and Lines of Credit			Commercial and Industrial			Other			Unallocated			Originated Loans Total			PCI		Acquired Loans		Total
Allowance for loan losses:
Beginning Balance	$	9,309		$	951		$	266		$	12,219		$	901		$	841		$	134		$	1,209		$	25,830		$	400	$	62	$	26,292
Charge-offs	(1,431		)	(277		)	—			(120		)	(115		)	(71		)	(1		)	—			(2,015		)	—		—		(2,015		)
Recoveries	2			20			—			25			42			34			17			—			140			—		—		140
Provisions (credit)	(774		)	93			(5		)	263			(33		)	484			5			(116		)	(83		)	383		53		353
Ending Balance	$	7,106		$	787		$	261		$	12,387		$	795		$	1,288		$	155		$	1,093		$	23,872		$	783	$	115	$	24,770
Ending balance: individually evaluated for impairment	$	394		$	167		$	—		$	158		$	51		$	4		$	—		$	—		$	774		$	—	$	115	$	889
Ending balance: collectively evaluated for impairment	$	6,712		$	620		$	261		$	12,229		$	744		$	1,284		$	155		$	1,093		$	23,098		$	783	$	—	$	23,881
Loans, net:
Ending Balance	$	402,714		$	99,010		$	18,677		$	1,320,724		$	62,594		$	25,610		$	2,256		$	—		$	1,931,585		$	33,115	$	409,015	$	2,373,715
Ending balance: individually evaluated for impairment	$	20,465		$	2,344		$	—		$	2,458		$	354		$	116		$	—		$	—		$	25,737		$	—	$	3,250	$	28,987
Ending balance: collectively evaluated for impairment	$	382,249		$	96,666		$	18,677		$	1,318,266		$	62,240		$	25,494		$	2,256		$	—		$	1,905,848		$	33,115	$	405,765	$	2,344,728

Investment Of Originated Loans Held-For-Investment, Net Of Deferred Fees And Costs, By Loan Type And Credit Quality Indicator

The following table details the recorded investment of originated loans receivable held-for-investment, net of deferred fees and costs, by loan type and credit quality indicator at December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	122,525	$	1,381,231	$	65,612	$	323,842	$	59,214	$	43,316	$	14,092	$	66,489	$	31,173	$	1,498	$	2,108,992
Special Mention	25		4,636		—		3,852		705		—		—		29		696		—		9,943
Substandard	40		1,643		1,179		18,867		1,807		1,482		—		249		144		—		25,411
Originated loans held-for-investment, net	$	122,590	$	1,387,510	$	66,791	$	346,561	$	61,726	$	44,798	$	14,092	$	66,767	$	32,013	$	1,498	$	2,144,346
	At December 31, 2015
	Real Estate
	Multifamily				Commercial				One-to-Four Family				Construction and Land		Home Equity and Lines of Credit		Commercial and Industrial		Other		Total
	< 35% LTV		=> 35% LTV		< 35% LTV		=> 35% LTV		< 60% LTV		=> 60% LTV
Internal Risk Rating
Pass	$	124,678	$	1,188,916	$	52,253	$	319,733	$	48,429	$	46,578	$	18,677	$	61,935	$	24,846	$	2,256	$	1,888,301
Special Mention	51		3,832		974		2,966		504		—		—		75		316		—		8,718
Substandard	775		2,472		1,233		25,555		2,112		1,387		—		584		448		—		34,566
Originated loans held-for-investment, net	$	125,504	$	1,195,220	$	54,460	$	348,254	$	51,045	$	47,965	$	18,677	$	62,594	$	25,610	$	2,256	$	1,931,585

Estimated Expected Future Cash Flows Of Each PCI Loan Pool

The following table sets forth the detail, and delinquency status, of originated and acquired non-performing loans (non-accrual loans and loans past due ninety days or more and still accruing), net of deferred fees and costs, at December 31, 2016 and 2015 (in thousands), excluding PCI loans which have been segregated into pools.  For PCI loans, each loan pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows.

	At December 31, 2016
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	341	$	—	$	4,882	$	5,223	$	—	$	5,223
Total commercial	341		—		4,882		5,223		—		5,223
One-to-four family residential
LTV < 60%
Substandard	384		383		442		1,209		9		1,218
LTV => 60%
Substandard	—		—		—		—		43		43
Total one-to-four family residential	384		383		442		1,209		52		1,261
Multifamily
LTV => 35%
Substandard	—		—		3		3		—		3
LTV < 35%
Substandard	40		—		—		40		—		40
Total multifamily	40		—		3		43		—		43
Home equity and lines of credit
Substandard	—		96		—		96		—		96
Total home equity and lines of credit	—		96		—		96		—		96
Total non-performing loans held-for-investment	765		479		5,327		6,571		52		6,623
Loans acquired:
Real Estate Loans:
Commercial
LTV < 35%
Substandard	—		—		231		231		—		231
LTV >= 35%
Substandard	—		—		59		59		—		59
Total Commercial	—		—		290		290		—		290
One-to-four family residential
LTV < 60%
Substandard	420		—		—		420		—		420
Total one-to-four family residential	420		—		—		420		—		420
Home equity and lines of credit	—		—		31		31		8		39
Commercial and industrial	—		—		9		9		—		9
Total non-performing loans acquired	420		—		330		750		8		758
Total non-performing loans	$	1,185	$	479	$	5,657	$	7,321	$	60	$	7,381

	At December 31, 2015
	Total Non-Performing Loans
	Non-Accruing Loans
	0-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total		90 Days or More Past Due and Accruing		Total Non-Performing Loans
Loans held-for-investment:
Real estate loans:
Commercial
LTV => 35%
Substandard	$	344	$	372	$	4,516	$	5,232	$	—	$	5,232
Total commercial	344		372		4,516		5,232		—		5,232
One-to-four family residential
LTV < 60%
Substandard	364		180		565		1,109		—		1,109
Total	364		180		565		1,109		—		1,109
LTV => 60%
Substandard	901		135		—		1,036		—		1,036
Total	901		135		—		1,036		—		1,036
Total one-to-four family residential	1,265		315		565		2,145		—		2,145
Construction and land
Pass	—		—		113		113		—		113
Total construction and land	—		—		113		113		—		113
Multifamily
LTV => 35%
Substandard	—		—		559		559		—		559
Total multifamily	—		—		559		559		—		559
Home equity and lines of credit
Substandard	—		—		329		329		—		329
Total home equity and lines of credit	—		—		329		329		—		329
Commercial and industrial loans
Pass	—		—		—		—		15		15
Total commercial and industrial loans	—		—		—		—		15		15
Total non-performing loans held-for-investment	1,609		687		6,082		8,378		15		8,393
Loans acquired:
One-to-four family residential
LTV < 60%
Substandard	429		—		—		429		—		429
Total one-to-four family residential	429		—		—		429		—		429
Total non-performing loans acquired	429		—		—		429		—		429
Total non-performing loans	$	2,038	$	687	$	6,082	$	8,807	$	15	$	8,822

Detail and Delinquency Status of Originated Loans Held-For-Investment, Net Of Deferred Fees and Costs, By Performing And Non-Performing Loans

The following table sets forth the detail and delinquency status of originated and acquired loans, net of deferred fees and costs, by performing and non-performing loans at December 31, 2016 and 2015 (in thousands):

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	65,189	$	423	$	65,612	$	—	$	65,612
Substandard	1,179		—		1,179		—		1,179
Total	66,368		423		66,791		—		66,791
LTV => 35%
Pass	322,307		1,535		323,842		—		323,842
Special Mention	3,852		—		3,852		—		3,852
Substandard	12,600		1,044		13,644		5,223		18,867
Total	338,759		2,579		341,338		5,223		346,561
Total commercial	405,127		3,002		408,129		5,223		413,352
One-to-four family residential
LTV < 60%
Pass	56,787		2,427		59,214		—		59,214
Special Mention	—		705		705		—		705
Substandard	589		—		589		1,218		1,807
Total	57,376		3,132		60,508		1,218		61,726
LTV => 60%
Pass	43,316		—		43,316		—		43,316
Special Mention	—		—		—		—		—
Substandard	1,439		—		1,439		43		1,482
Total	44,755		—		44,755		43		44,798
Total one-to-four family residential	102,131		3,132		105,263		1,261		106,524
Construction and land
Pass	14,092		—		14,092		—		14,092
Special Mention	—		—		—		—		—
Substandard	—		—		—		—		—
Total construction and land	14,092		—		14,092		—		14,092
Multifamily
LTV < 35%
Pass	122,525		—		122,525		—		122,525
Special Mention	25		—		25		—		25
Substandard	—		—		—		40		40
Total	122,550		—		122,550		40		122,590
LTV= > 35%
Pass	1,380,331		900		1,381,231		—		1,381,231
Special Mention	4,636		—		4,636		—		4,636
Substandard	1,640		—		1,640		3		1,643
Total	1,386,607		900		1,387,507		3		1,387,510
Total multifamily	1,509,157		900		1,510,057		43		1,510,100
Home equity and lines of credit
Pass	66,369		120		66,489		—		66,489
Special Mention	29		—		29		—		29
Substandard	153		—		153		96		249
Total home equity and lines of credit	66,551		120		66,671		96		66,767
Commercial and industrial loans
Pass	31,040		133		31,173		—		31,173
Special Mention	696		—		696		—		696
Substandard	144		—		144		—		144
Total commercial and industrial loans	31,880		133		32,013		—		32,013
Other loans
Pass	1,452		46		1,498		—		1,498
Total other loans	1,452		46		1,498		—		1,498

	December 31, 2016
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	2,130,390		7,333		2,137,723		6,623		2,144,346
Acquired loans:
One-to-four family residential
LTV < 60%
Pass	285,116		21		285,137		—		285,137
Special Mention	502		—		502		—		502
Substandard	654		261		915		420		1,335
Total	286,272		282		286,554		420		286,974
LTV => 60%
Pass	30,199		—		30,199		—		30,199
Substandard	259		207		466		—		466
Total	30,458		207		30,665		—		30,665
Total one-to-four family residential	316,730		489		317,219		420		317,639
Commercial
LTV < 35%
Pass	61,646		7		61,653		—		61,653
Special Mention	286		—		286		—		286
Substandard	406		1,040		1,446		231		1,677
Total	62,338		1,047		63,385		231		63,616
LTV => 35%
Pass	119,932		132		120,064		—		120,064
Special Mention	446		138		584		—		584
Substandard	3,419		259		3,678		59		3,737
Total	123,797		529		124,326		59		124,385
Total commercial	186,135		1,576		187,711		290		188,001
Construction and land
Pass	20,887		—		20,887		—		20,887
Total construction and land	20,887		—		20,887		—		20,887
Multifamily
LTV < 35%
Pass	205,025		—		205,025		—		205,025
Special Mention	99		111		210		—		210
Substandard	156		—		156		—		156
Total	205,280		111		205,391		—		205,391
LTV => 35%
Pass	9,569		—		9,569		—		9,569
Substandard	—		429		429		—		429
Total	9,569		429		9,998		—		9,998
Total multifamily	214,849		540		215,389		—		215,389
Commercial and industrial
Pass	25,419		—		25,419		—		25,419
Substandard	—		15		15		9		24
Total commercial and industrial	25,419		15		25,434		9		25,443
Home equity and lines of credit
Pass	25,340		45		25,385		—		25,385
Substandard	—		98		98		39		137
Total home equity and lines of credit	25,340		143		25,483		39		25,522
Other	355		4		359		—		359
Total loans acquired	789,715		2,767		792,482		758		793,240
	$	2,920,105	$	10,100	$	2,930,205	$	7,381	$	2,937,586

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Commercial
LTV < 35%
Pass	$	50,974	$	1,279	$	52,253	$	—	$	52,253
Special Mention	974		—		974		—		974
Substandard	1,233		—		1,233		—		1,233
Total	53,181		1,279		54,460		—		54,460
LTV => 35%
Pass	319,411		322		319,733		—		319,733
Special Mention	2,966		—		2,966		—		2,966
Substandard	8,696		11,627		20,323		5,232		25,555
Total	331,073		11,949		343,022		5,232		348,254
Total commercial	384,254		13,228		397,482		5,232		402,714
One-to-four family residential
LTV < 60%
Pass	45,737		2,692		48,429		—		48,429
Special Mention	134		370		504		—		504
Substandard	696		307		1,003		1,109		2,112
Total	46,567		3,369		49,936		1,109		51,045
LTV => 60%
Pass	46,578		—		46,578		—		46,578
Substandard	—		351		351		1,036		1,387
Total	46,578		351		46,929		1,036		47,965
Total one-to-four family residential	93,145		3,720		96,865		2,145		99,010
Construction and land
Pass	18,564		—		18,564		113		18,677
Total construction and land	18,564		—		18,564		113		18,677
Multifamily
LTV < 35%
Pass	124,678		—		124,678		—		124,678
Special Mention	—		51		51		—		51
Substandard	775		—		775		—		775
Total	125,453		51		125,504		—		125,504
LTV => 35%
Pass	1,187,147		1,769		1,188,916		—		1,188,916
Special Mention	2,687		1,145		3,832		—		3,832
Substandard	1,913		—		1,913		559		2,472
Total	1,191,747		2,914		1,194,661		559		1,195,220
Total multifamily	1,317,200		2,965		1,320,165		559		1,320,724
Home equity and lines of credit
Pass	61,561		374		61,935		—		61,935
Special Mention	75		—		75		—		75
Substandard	255		—		255		329		584
Total home equity and lines of credit	61,891		374		62,265		329		62,594
Commercial and industrial loans
Pass	24,780		51		24,831		15		24,846
Special Mention	316		—		316		—		316
Substandard	395		53		448		—		448
Total Commercial and industrial loans	25,491		104		25,595		15		25,610
Other loans
Pass	2,245		11		2,256		—		2,256
Total other loans	2,245		11		2,256		—		2,256

	December 31, 2015
	Performing (Accruing) Loans
	0-29 Days Past Due		30-89 Days Past Due		Total		Non-Performing Loans		Total Loans Receivable, net
Total originated loans held-for-investment	1,902,790		20,402		1,923,192		8,393		1,931,585
Loans acquired:
One-to-four family residential
LTV < 60%
Pass	313,425		312		313,737		—		313,737
Special Mention	549		—		549		—		549
Substandard	737		177		914		429		1,343
Total	314,711		489		315,200		429		315,629
LTV => 60%
Pass	14,759		—		14,759		—		14,759
Substandard	284		—		284		—		284
Total	15,043		—		15,043		—		15,043
Total one-to-four family residential	329,754		489		330,243		429		330,672
Commercial
LTV < 35%
Pass	2,164		—		2,164		—		2,164
Substandard	—		729		729		—		729
Total	2,164		729		2,893		—		2,893
LTV => 35%
Pass	5,536		—		5,536		—		5,536
Special Mention	883		—		883		—		883
Substandard	1,848		—		1,848		—		1,848
Total	8,267		—		8,267		—		8,267
Total commercial	10,431		729		11,160		—		11,160
Multifamily
LTV < 35%
Pass	4,695		—		4,695		—		4,695
Special Mention	138		—		138		—		138
Total	4,833		—		4,833		—		4,833
LTV => 35%
Pass	59,632		—		59,632		—		59,632
Special Mention	314		—		314		—		314
Total	59,946		—		59,946		—		59,946
Total multifamily	64,779		—		64,779		—		64,779
Home equity and lines of credit
Pass	2,404		—		2,404		—		2,404
Total home equity and lines of credit	2,404		—		2,404		—		2,404
Total loans acquired	407,368		1,218		408,586		429		409,015
	$	2,310,158	$	21,620	$	2,331,778	$	8,822	$	2,340,600

Summary Of Impaired Loans

The following table summarizes the average recorded investment in originated and acquired impaired loans (excluding PCI loans) and interest recognized on impaired loans as of, and for, the years ended December 31, 2016, and December 31, 2015 (in thousands):

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
With No Allowance Recorded:
Real estate loans:
Commercial
LTV < 35%
Substandard	$	—	$	39	$	—	$	—
LTV => 35%
Pass	3,980		192		2,938		184
Special Mention	—		—		109		—
Substandard	13,853		450		12,593		884
One-to-four family residential
LTV < 60%
Pass	559		31		207		9
Special Mention	—		—		55		—
Substandard	213		21		188		22
One-to-four family residential
LTV => 60%
Substandard	339		26		101		3
Multifamily
LTV < 35%
Substandard	62		6		—		—
LTV => 35%
Pass	69		17		80		17
Substandard	582		—		688		27
Home equity and lines of credit
Pass	8		3
Special Mention	—		—		29		—
Commercial and industrial loans
Special Mention	—		—		59		—
Substandard	81		—		93		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Pass	—		—		668		—
Substandard	5,800		62		10,357		75
One-to-four family residential
LTV < 60%
Pass	137		—		263		19
Special Mention	—		—		127		—
Substandard	1,575		26		1,017		65
LTV => 60%
Pass	110		6		—		—
Special Mention	—		—		207		—
Substandard	796		4		377		102

	December 31, 2016				December 31, 2015
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
Multifamily
LTV => 35%
Pass	794		50		—		—
Substandard	546		—		1,399		52
Home equity and lines of credit
Pass	264		8		163		7
Special Mention	34		—		129		3
Substandard	40		1		25		2
Commercial and industrial loans
Pass	—		—
Special Mention	27		1		24		2
Substandard	—		—		82		—
Total:
Real estate loans:
Commercial	23,633		743		26,665		1,143
One-to-four family residential	3,729		114		2,542		220
Multifamily	2,053		73		2,167		96
Home equity and lines of credit	346		12		346		12
Commercial and industrial loans	108		1		258		2
	$	29,869	$	943	$	31,978	$	1,473

The following table summarizes originated and acquired (subsequent to acquisition) impaired loans as of December 31, 2016 and 2015 (in thousands): 

	At December 31, 2016							December 31, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance			Recorded Investment		Unpaid Principal Balance		Related Allowance
With No Allowance Recorded:
Real estate loans:
Commercial
Substandard	$	—	$	139	$	—		$	—	$	139	$	—
LTV => 35%
Pass	3,911		4,047		—			4,051		4,188		—
Special Mention	—		—		—
Substandard	14,780		16,868		—			13,371		14,748		—
One-to-four family residential
LTV < 60%
Pass	633		633		—			221		221		—
Substandard	184		184		—			234		234		—
LTV => 60%
Substandard	620		848		—			150		167
Multifamily
LTV < 35%
Substandard	156		156		—			—		—		—
LTV => 35%
Pass	63		534		—			75		545		—
Substandard	—		—		—			1,012		1,012		—
Home Equity
Pass	39		39		—			—		—		—
Commercial and industrial loans
Substandard	75		75		—			87		87		—
With a Related Allowance Recorded:
Real estate loans:
Commercial
LTV => 35%
Substandard	2,019		2,019		(64		)	4,891		5,430		(394		)
One-to-four family residential
LTV < 60%
Pass	—		—		—			503		503		(33		)
Substandard	1,522		1,522		(97		)	1,604		1,604		(152		)
LTV => 60%
Pass	275		275		(3		)
Special Mention	—		—		—			1,034		1,081		(97		)
Substandard	381		381		(41		)	—		—		—
Multifamily
LTV => 35%
Pass	1,309		1,309		(95		)	—		—		—
Substandard	—		—		—			1,371		1,371		(158		)
Home equity and lines of credit
Pass	258		258		(5		)	269		269		(11		)
Special Mention	—		—		—			44		44		(19		)
Substandard	39		39		(18		)	41		41		(21		)
Commercial and industrial loans
Special Mention	26		26		(5		)	29		29		(4		)
Total:
Real estate loans:
Commercial	20,710		23,073		(64		)	22,313		24,505		(394		)
One-to-four family residential	3,615		3,843		(141		)	3,746		3,810		(282		)
Multifamily	1,528		1,999		(95		)	2,458		2,928		(158		)
Home equity and lines of credit	336		336		(23		)	354		354		(51		)
Commercial and industrial loans	101		$	101	(5		)	116		116		(4		)
	$	26,290	$	29,352	$	(328	)	$	28,987	$	31,713	$	(889	)

Summary Of Troubled Debt Restructuring

The following tables summarize loans that were modified in a troubled debt restructuring during the year ended December 31, 2015:

	Year Ended December 31, 2015
		Pre-Modification		Post-Modification
	Number of	Outstanding Recorded		Outstanding Recorded
	Relationships	Investment		Investment
		(Dollars in thousands)
Commercial real estate loans
Substandard	3	$	8,957	$	8,457
One-to-four Family
Pass	1	20		20
Substandard	8	1,889		1,889
Home equity and lines of credit
Substandard	1	43		43
Total Troubled Debt Restructurings	13	$	10,909	$	10,409

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Premises And Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Premises And Equipment Less Accumulated Depreciation And Amortization

At December 31, 2016 and 2015, premises and equipment, less accumulated depreciation and amortization, consists of the following (in thousands): 

	December 31,
	2016			2015
At cost:
Land	$	4,018		$	2,530
Buildings and improvements	8,856			6,695
Capital leases	2,600			2,600
Furniture, fixtures, and equipment	21,962			19,954
Leasehold improvements	27,398			26,197
	64,834			57,976
Accumulated depreciation and amortization	(37,924		)	(34,333		)
Premises and equipment, net	$	26,910		$	23,643

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Deposits (Tables)

12 Months Ended

Dec. 31, 2016

Banking and Thrift [Abstract]

Deposit Account Balances

Deposit account balances are summarized as follows (dollars in thousands): 

	As of December 31,
	2016				2015
	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Transaction:
Negotiable orders of withdrawal	$	467,440	0.34	%	$	217,813	0.25	%
Non-interest bearing checking	390,484		—	%	263,073		—	%
Total transaction	857,924		0.19	%	480,886		0.11	%
Savings:
Money market	818,660		0.67	%	548,132		0.62	%
Savings	500,926		0.24	%	524,043		0.47	%
Total savings	1,319,586		0.51	%	1,072,175		0.55	%
Certificates of deposit:
Under $250,000	484,480		1.22	%	461,127		1.11	%
$250,000 or more	51,597		1.48	%	38,741		1.73	%
Total certificates of deposit	536,077		1.24	%	499,868		1.15	%
Total deposits	$	2,713,587	0.55	%	$	2,052,929	0.59	%

Maturities Of Certificates Of Deposit

Scheduled maturities of certificates of deposit are summarized as follows (in thousands): 

	December 31, 2016
2017	$	237,733
2018	109,599
2019	94,622
2020	78,344
2021	15,779
Thereafter	—
Total	$	536,077

Interest Expense On Deposits

Interest expense on deposits is summarized as follows (in thousands):

	December 31,
	2016		2015		2014
Negotiable order of withdrawal and money market	$	5,634	$	2,816	$	1,766
Savings-passbook and statement	2,124		2,141		445
Certificates of deposit	6,529		5,466		3,180
	$	14,287	$	10,423	$	5,391

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Borrowings (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Summary Of Borrowings

Borrowings consisted of securities sold under agreements to repurchase, FHLB advances, and obligations under capital leases and are summarized as follows (in thousands): 

	December 31,
	2016		2015
Repurchase agreements	$	8,000	$	63,000
Other borrowings:
FHLB advances	453,220		487,130
Floating rate advances	11,463		7,272
Obligations under capital leases	523		727
	$	473,206	$	558,129

Contractual Maturities Repurchase Agreements And FHLB Advances

Repurchase agreements and FHLB advances have contractual maturities as follows (in thousands): 

	December 31, 2016
	FHLB		Repurchase
	Advances		Agreements
2017	$	159,003	$	6,000
2018	140,715		2,000
2019	93,502		—
2020	60,000		—
2021	—		—
	$	453,220	$	8,000

Summary Of Interest Expense On Borrowings

Interest expense on borrowings is summarized as follows (in thousands): 

	December 31,
	2016		2015		2014
Repurchase agreements	$	569	$	2,446	$	4,161
FHLB advances	6,743		6,742		5,717
Floating rate advances	27		17		3
Obligations under capital leases	42		60		80
	$	7,381	$	9,265	$	9,961

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

Income tax expense (benefit) consists of the following (in thousands): 

	December 31,
	2016			2015			2014
Federal tax expense (benefit):
Current	$	14,218		$	11,796		$	11,195
Deferred	(1,260		)	(2,305		)	(1,675		)
	12,958			9,491			9,520
State and local tax expense (benefit):
Current	2,506			1,811			1,828
Deferred	(1,799		)	673			508
	707			2,484			2,336
Total income tax expense	$	13,665		$	11,975		$	11,856

Reconciliation Between The Amount Of Reported Total Income Tax Expense And The Amount Computed By Multiplying The Applicable Statutory Income Tax Rate

Reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate for the years ended December 31, 2016, 2015, and 2014, is as follows (dollars in thousands): 

	December 31,
	2016			2015			2014
Tax expense at statutory rate of 35%	$	13,928		$	11,027		$	11,242
Increase (decrease) in taxes resulting from:
State tax, net of federal income tax	460			1,615			1,519
Bank owned life insurance	(1,399		)	(1,319		)	(1,366		)
Merger related costs	74			201			—
Incentive stock options	299			210			134
Uncertain tax position	178			51			131
Other, net	125			190			196
Income tax expense	$	13,665		$	11,975		$	11,856

Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2016 and 2015, are as follows (in thousands): 

	December 31,
	2016		2015
Deferred tax assets:
Allowance for loan losses	$	9,470	$	9,514
Capitalized leases	213		287
Deferred compensation	5,686		2,450
Accrued salaries	1,128		910
Postretirement benefits	576		555
Equity awards	5,005		4,707
Unrealized actuarial losses on post retirement benefits	124		217
Straight-line leases adjustment	1,219		1,099
Asset retirement obligation	89		97
Reserve for accrued interest receivable	1,116		775
Reserve for loan commitments	193		127
Employee Stock Ownership Plan	642		532
Other	366		358
Depreciation	2,509		2,123
Fair value adjustments of acquired loans	10,168		7,105
Fair value adjustments of pension benefit obligations	250		267
Unrealized losses on securities	2,775		1,780
Total gross deferred tax assets	41,529		32,903
Deferred tax liabilities:
Fair value adjustments of acquired securities	82		9
Fair value adjustments of deposit liabilities	547		30
Deferred loan fees	1,910		1,777
Other	59		21
Total gross deferred tax liabilities	2,598		1,837
Net deferred tax asset	$	38,931	$	31,066

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the Company’s uncertain tax positions are as follows (in thousands):

	December 31,
	2016		2015		2014
Beginning balance	$	281	$	230	$	679
Settlements based on tax positions related to prior years	—		—		(580		)
Additions based on tax positions related to prior years	178		51		131
Ending balance	$	459	$	281	$	230

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Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Funded Status And Components Of Postretirement Benefit Costs

The following tables set forth the funded status and components of postretirement benefit costs at December 31 measurement dates (in thousands): 

	2016			2015			2014
Accumulated postretirement benefit obligation beginning of year	$	1,950		$	1,846		$	1,294
Service cost	8			9			6
Interest cost	71			62			53
Actuarial (gain) loss	(214		)	149			578
Benefits paid	(118		)	(116		)	(85		)
Accumulated postretirement benefit obligation end of year	1,697			1,950			1,846
Accrued liability (included in accrued expenses and other liabilities)	$	1,697		$	1,950		$	1,846

Amounts Recognized In Accumulated Other Comprehensive Income (Loss)

The following table sets forth the amounts recognized in accumulated other comprehensive income (loss) (in thousands): 

	December 31,
	2016		2015
Net loss	$	310	$	578
Transition obligation	—		—
Prior service cost	—		12
Loss recognized in accumulated other comprehensive income (loss)	$	310	$	590

Components Of Net Periodic Postretirement Benefit Cost

The following table sets forth the components of net periodic postretirement benefit costs for the years ended December 31, 2016, 2015, and 2014 (in thousands): 

	December 31,
	2016		2015		2014
Service cost	$	8	$	9	$	6
Interest cost	71		62		53
Amortization of transition obligation	—		17		17
Amortization of prior service costs	12		38		24
Amortization of unrecognized loss (gain)	54		44		(11		)
Net postretirement benefit cost included in compensation and employee benefits	$	145	$	170	$	89

Defined Benefit Plan, Assumptions Used In Accounting For The Plan

The Company’s discount rate and rate of compensation increase used in accounting for the plan are as follows: 

	2016		2015		2014
Assumptions used to determine benefit obligation at period end:
Discount rate	3.50	%	3.75	%	3.50	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%
Assumptions used to determine net periodic benefit cost for the year:
Discount rate	3.75	%	3.50	%	4.25	%
Rate of increase in compensation	4.00	%	4.00	%	4.00	%

Summary Of Percentage Point Change In Assumed Heath Care Cost Trends

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands): 

	One Percentage Point Increase				One Percentage Point Decrease
	2016		2015		2016			2015
Effect on benefits earned and interest cost	$	6	$	6	$	(5	)	$	(4	)
Effect on accumulated postretirement benefit obligation	121		156		(108		)	(139		)

A one percentage-point change in assumed heath care cost trends would have the following effects (in thousands):

	One Percentage Point Increase						One Percentage Point Decrease
	2016		2015		2014		2016			2015			2014
Aggregate of service and interest components of net periodic cost (benefit)	$	6	$	6	$	4	$	(5	)	$	(4	)	$	(3	)

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Equity Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options Outstanding

The following table is a summary of the Company’s non-vested stock options as of December 31, 2016, and changes therein during the year then ended: 

	Number of Stock Options		Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Contractual Life (years)
Outstanding- December 31, 2014	5,138,072		$	3.08	$	10.04	7.44
Granted	1,090,000		4.07		14.76		9.41
Forfeited	(73,040	)	3.91		13.13		—
Exercised	(143,171	)	2.33		7.22		—
Outstanding- December 31, 2015	6,011,861		3.30		10.93		6.41
Granted	40,000		4.94		18.44		9.88
Forfeited	(32,520	)	4.00		13.78		—
Exercised	(690,671	)	2.52		7.84		—
Outstanding- December 31, 2016	5,328,670		3.41		11.36		5.78
Exercisable- December 31, 2016	2,985,272		$	2.92	$	9.44	4.15

Status of the Company's Restricted Share Awards

The following is a summary of the status of the Company’s restricted shares as of December 31, 2016, and changes therein during the year then ended: 

	Number of Shares Awarded		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	1,003,074		$	13.11
Granted	419,000		14.76
Vested	(196,492	)	13.09
Forfeited	(31,720	)	13.13
Non-vested at December 31, 2015	1,193,862		13.70
Granted	20,000		18.44
Vested	(277,580	)	13.61
Forfeited	(12,280	)	13.87
Non-vested at December 31, 2016	924,002		$	13.82

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Commitments And Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitment And Contingent Liabilities Not Reflected In Consolidated Financial Statements

At December 31, 2016 and 2015, the following commitment and contingent liabilities existed that are not reflected in the accompanying consolidated financial statements (in thousands):

	December 31,
	2016		2015
Commitments to extend credit	$	46,069	$	18,400
Unused lines of credit	78,825		69,414
Standby letters of credit	7,463		471

The Projected Minimum Annual Rental Payments And Receipts Under The Capitalized Leases And Operating Leases

The projected minimum annual rental payments and receipts under the capitalized leases and operating leases are as follows (in thousands): 

	Rental Payments Capitalized Leases		Rental Payments Operating Leases
Year ending December 31:
2017	$	254	$	4,682
2018	262		4,290
2019	44		3,957
2020	—		3,956
2021	—		3,521
Thereafter	—		30,069
Total minimum lease payments	$	560	$	50,475

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Regulatory Requirements (Tables)

12 Months Ended

Dec. 31, 2016

Regulatory Requirements [Abstract]

Bank's Regulatory Capital Amounts And Ratios Compared To Regulatory Requirements

The following is a summary of Northfield Bank’s regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands):

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	553,715	17.75	%	$	140,371	4.50	%	$	202,758	6.50	%
Tier 1 Leverage	553,715		14.55		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	553,715		17.75		187,161		6.00		249,548		8.00
Total capital (to risk-weighted assets)	578,828		18.56		249,548		8.00		311,935		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	498,067	20.19	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	498,067		15.72		126,744		4.00		158,429		5.00
Tier I capital (to risk-weighted assets)	498,067		20.19		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	523,223		21.21		197,378		8.00		246,722		10.00	%

The following is a summary of the Company's regulatory capital amounts and ratios compared to the regulatory requirements as of December 31, 2016 and 2015, for classification as a well-capitalized institution and minimum capital (dollars in thousands).

									For Well
					For Capital				Capitalized
					Adequacy				Under Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2016:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	586,055	18.79	%	$	140,329	4.50	%	$	202,698	6.50	%
Tier 1 Leverage	586,055		15.40		152,213		4.00		190,267		5.00
Tier I capital (to risk-weighted assets)	586,055		18.79		187,106		6.00		249,474		8.00
Total capital (to risk-weighted assets)	611,168		19.60		249,474		8.00		380,533		10.00
As of December 31, 2015:
Common Equity Tier 1 Capital (to risk-weighted assets)	$	546,564	22.15	%	$	111,025	4.50	%	$	160,369	6.50	%
Tier 1 Leverage	546,564		17.25		126,764		4.00		158,455		5.00
Tier I capital (to risk-weighted assets)	546,564		22.15		148,033		6.00		197,378		8.00
Total capital (to risk-weighted assets)	571,720		23.17		197,378		8.00		246,722		10.00

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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Significant Fair Value Of Assets And Liabilities Measured On Recurring And Non Recurring Basis

The following tables summarize financial assets and financial liabilities measured at fair value as of December 31, 2016 and 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):   

	Fair Value Measurements at December 31, 2016 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	448,842	$	—	$	448,842	$	—
Non-GSE	270		—		270		—
Debt securities
Municipal bonds	2,158		—		2,158
Corporate bonds	45,159		—		45,159		—
Other securities
Equity investments - mutual funds	1,218		271		947		—
Other	1,250		—		1,250		—
Total available-for-sale	498,897		271		498,626		—
Trading securities	7,857		7,857		—		—
Total	$	506,754	$	8,128	$	498,626	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	10,730	$	—	$	—	$	10,730
One-to-four family residential mortgage	2,177		—		—		2,177
Multifamily	1,276		—		—		1,276
Home equity and lines of credit	274		—		—		274
Total impaired real estate loans	14,457		—		—		14,457
Commercial and industrial loans	21		—		—		21
Other real estate owned	850		—		—		850
Total	$	15,328	$	—	$	—	$	15,328

	Fair Value Measurements at December 31, 2015 Using:
	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Measured on a recurring basis:
Assets:
Investment securities:
Available-for-sale:
Mortgage-backed securities
GSE	$	529,524	$	—	$	529,524	$	—
Non-GSE	579		—		579		—
Debt securities
Corporate bonds	11,011		—		11,011		—
Other securities
Equities	481		481		—		—
Total available-for-sale	541,595		481		541,114		—
Trading securities	6,713		6,713		—		—
Total	$	548,308	$	7,194	$	541,114	$	—
Measured on a non-recurring basis:
Assets:
Impaired loans:
Real estate loans:
Commercial real estate	$	9,091	$	—	$	—	$	9,091
One-to-four family residential mortgage	2,873		—		—		2,873
Multifamily	1,288		—		—		1,288
Home equity and lines of credit	303		—		—		303
Total impaired real estate loans	13,555		—		—		13,555
Commercial and industrial loans	25		—		—		25
Other real estate owned	45		—		—		45
Total	$	13,625	$	—	$	—	$	13,625

Level 3 Assets Measured At Fair Value On A Non-Recurring Basis

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2016:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	14,478	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	850	Appraisals	Discount for costs to sell	7.0%

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2015:   

	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
	(in thousands)
Impaired loans	$	13,580	Appraisals	Discount for costs to sell	7.0%
				Discount for quick sale	10.0%
			Discounted cash flows	Interest rates	4.75% - 7.5%
Other real estate owned	$	45	Appraisals	Discount for costs to sell	7.0%

Estimated Fair Values Of Significant Financial Instruments

The estimated fair values of the Company’s significant financial instruments at December 31, 2016 and 2015, are presented in the following table (in thousands):

	December 31, 2016
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	96,085	$	96,085	$	—	$	—	$	96,085
Trading securities	7,857		7,857		—		—		7,857
Securities available-for-sale	498,897		271		498,626		—		498,897
Securities held-to-maturity	10,148		—		10,118		—		10,118
FHLB of New York stock, at cost	25,123		—		25,123		—		25,123
Net loans held-for-investment	2,943,489		—		—		2,970,438		2,970,438
Financial liabilities:
Deposits	$	2,713,587	$	—	$	2,720,176	$	—	$	2,720,176
Repurchase agreements and other borrowings	473,206		—		472,387		—		472,387
Advance payments by borrowers	12,331		—		12,331		—		12,331

	December 31, 2015
			Estimated Fair Value
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	51,853	$	51,853	$	—	$	—	$	51,853
Trading securities	6,713		6,713		—		—		6,713
Securities available-for-sale	541,595		481		541,114		—		541,595
Securities held-to-maturity	10,346		—		10,369		—		10,369
FHLB of New York stock, at cost	25,803		—		25,803		—		25,803
Net loans held-for-investment	2,348,945		—		—		2,375,028		2,375,028
Financial liabilities:
Deposits	$	2,052,929	$	—	$	2,058,894	$	—	$	2,058,894
Repurchase agreements and other borrowings	558,129		—		557,537		—		557,537
Advance payments by borrowers	10,862		—		10,862		—		10,862

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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share Calculations And Reconciliation

The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share for the periods indicated (in thousands, except share data):  

	December 31,
	2016		2015		2014
Net income available to common stockholders	$	26,130	$	19,531	$	20,266
Weighted average shares outstanding-basic	44,374,389		42,285,712		49,006,129
Effect of non-vested restricted stock and stock options outstanding	1,343,498		1,192,769		1,026,130
Weighted average shares outstanding-diluted	45,717,887		43,478,481		50,032,259
Earnings per share-basic	$	0.59	$	0.46	$	0.41
Earnings per share-diluted	$	0.57	$	0.45	$	0.41
Anti-dilutive shares	777,733		2,679,507		1,471,303

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Parent-Only Financial Information (Tables) - Parent Company

12 Months Ended

Dec. 31, 2016

Condensed Balance Sheets

Northfield Bancorp, Inc.

Condensed Balance Sheets

	December 31,
	2016		2015
	(in thousands)
Assets
Cash in Northfield Bank	$	8,953	$	22,504
Interest-earning deposits in other financial institutions	21		21
Investment in Northfield Bank	588,856		511,283
ESOP loan receivable	25,043		26,012
Other assets	118		516
Total assets	$	622,991	$	560,336
Liabilities and Stockholders' Equity
Total liabilities	$	1,795	$	557
Total stockholders' equity	621,196		559,779
Total liabilities and stockholders' equity	$	622,991	$	560,336

Condensed Statements of Comprehensive Income (Loss)

Northfield Bancorp, Inc.

Condensed Statements of Comprehensive Income (Loss)

	Years Ended
	December 31,
	2016			2015			2014
	(in thousands)
Interest on ESOP loan	$	913		$	875		$	903
Interest income on deposit in Northfield Bank	31			51			251
Gain (loss) on securities transactions, net	4			(4		)	(2		)
Undistributed earnings of Northfield Bank	26,303			19,718			20,331
Total income	27,251			20,640			21,483
Other expenses	936			891			956
Income tax expense	185			218			261
Total expense	1,121			1,109			1,217
Net income	$	26,130		$	19,531		$	20,266
Comprehensive income:
Net income	$	26,130		$	19,531		$	20,266
Other comprehensive (loss) income, net of tax	(1,346		)	(2,221		)	3,885
Comprehensive income	$	24,784		$	17,310		$	24,151

Condensed Statements of Cash Flows

Northfield Bancorp, Inc.

Condensed Statements of Cash Flows

	December 31,
	2016			2015			2014
	(in thousands)
Cash flows from operating activities
Net income	$	26,130		$	19,531		$	20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in other assets	(1,998		)	(453		)	(969		)
Increase (decrease) in other liabilities	1,238			377			(362		)
Undistributed earnings of Northfield Bank	(26,303		)	(19,718		)	(20,329		)
Net cash used in operating activities	(933		)	(263		)	(1,394		)
Cash flows from investing activities
Cash consideration paid for business acquisition	(13,644		)	—			—
Dividends from Northfield Bank	14,700			25,900			66,274
Net cash provided by investing activities	1,056			25,900			66,274
Cash flows from financing activities
Principal payments on ESOP loan receivable	969			922			865
Purchase of treasury stock	(2,201		)	(48,446		)	(138,702		)
Dividends paid	(14,074		)	(12,184		)	(12,884		)
Exercise of stock options	120			158			212
Additional tax benefit on stock awards	1,512			122			390
Net cash used in financing activities	(13,674		)	(59,428		)	(150,119		)
Net decrease in cash and cash equivalents	(13,551		)	(33,791		)	(85,239		)
Cash and cash equivalents at beginning of year	22,525			56,316			141,555
Cash and cash equivalents at end of year	$	8,974		$	22,525		$	56,316

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Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Parent Company

Selected Quarterly Financial Data (Unaudited)

The following tables are a summary of certain quarterly financial data for the years endedDecember 31, 2016and2015:

	2016 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	30,169		$	31,168	$	31,525	$	32,110
Interest expense	5,441			5,527		5,274		5,426
Net interest income	24,728			25,641		26,251		26,684
Provision (recoveries) for loan losses	(131		)	14		472		280
Net interest income after provision for loan losses	24,859			25,627		25,779		26,404
Other income	2,229			2,533		2,667		2,643
Other expenses	21,499			17,494		17,377		16,576
Income before income tax  expense	5,589			10,666		11,069		12,471
Income tax  expense	1,929			3,681		3,782		4,273
Net income	$	3,660		$	6,985	$	7,287	$	8,198
Net income per basic common share	$	0.08		$	0.16	$	0.16	$	0.18
Net income per diluted common share	$	0.08		$	0.15	$	0.16	$	0.18
	2015 Quarter Ended
	March 31			June 30		September 30		December 31
	(Dollars in thousands, except per share data)
Selected Operating Data:
Interest income	$	24,753		$	25,037	$	25,570	$	26,398
Interest expense	4,769			4,752		4,997		5,170
Net interest income	19,984			20,285		20,573		21,228
Provision (recoveries) for loan losses	200			72		200		(119		)
Net interest income after provision for loan losses	19,784			20,213		20,373		21,347
Other income	2,104			2,006		1,666		2,122
Other expenses	14,300			14,514		14,847		14,448
Income before income tax  expense	7,588			7,705		7,192		9,021
Income tax  expense	2,586			3,410		2,515		3,464
Net income	$	5,002		$	4,295	$	4,677	$	5,557
Net income per basic common share	$	0.11		$	0.10	$	0.11	$	0.13
Net income per diluted common share	$	0.11		$	0.10	$	0.11	$	0.13

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Summary Of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Significant Accounting Policies [Line Items]
Conversion cost				$ 11,500
Threshold of membership investment component, percentage	0.20%
Threshold of membership investment component	$ 1
Activity based investment component as a percentage of outstanding advances	4.50%
Goodwill	$ 38,411	$ 16,159
ESOP repayment period (years)	30 years
Effect of non-vested restricted stock and stock options outstanding	1,343,498	1,192,769	1,026,130
Minimum
Schedule Of Significant Accounting Policies [Line Items]
Minimum amount of non-accrual loans individually evaluated for impairment	$ 500
Building
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of significant classes of assets (years)	40 years
Furniture And Equipment | Minimum
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of significant classes of assets (years)	5 years
Furniture And Equipment | Maximum
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of significant classes of assets (years)	7 years
Software
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives of significant classes of assets (years)	3 years

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Business Combination - Narrative (Details) - Hopewell Valley Community Bank $ / shares in Units, $ in Thousands	Jan. 08, 2016 USD ($) branch $ / shares shares
Business Acquisition [Line Items]
Assets acquired	$ 508,455
Loans acquired	342,566
Deposits acquired	$ 456,203
Number of branch offices acquired | branch	9
Total consideration transferred	$ 55,400
Cash consideration	$ 13,700
Core Deposits
Business Acquisition [Line Items]
Estimated useful life	10 years
Common Stock
Business Acquisition [Line Items]
Consideration transferred, common stock (shares) | shares	2,707,381
Consideration transferred, common stock	$ 41,700
Closing price (usd per share) | $ / shares	$ 15.41

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Business Combination - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jan. 08, 2016	Dec. 31, 2015
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 38,411		$ 16,159
Hopewell Valley Community Bank
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents, net		$ 55,479
Securities available for sale		61,633
Loans		342,566
Accrued interest receivable		1,452
Bank-owned life insurance		11,269
Premises and equipment		5,926
Federal Home Loan Bank of New York stock, at cost		476
Goodwill		22,252
Other intangible assets		2,013
Other assets		5,389
Total assets acquired		508,455
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Deposits		456,203
Other borrowings		2,213
Other liabilities		8,318
Total liabilities assumed		466,734
Net assets acquired		$ 41,721

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Securities Available-for-Sale - Comparative Summary Of Mortgage-Backed Securities And Other Securities Available-For-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 505,834	$ 546,024
Gross unrealized gains	3,222	5,329
Gross unrealized losses	10,159	9,758
Estimated fair value	498,897	541,595
Pass-through certificates | GSE
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	225,047	228,557
Gross unrealized gains	2,800	4,673
Gross unrealized losses	3,298	1,530
Estimated fair value	224,549	231,700
REMICs
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	455,827	534,541
Gross unrealized gains	3,059	5,320
Gross unrealized losses	9,774	9,758
Estimated fair value	449,112	530,103
REMICs | GSE
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	230,500	305,387
Gross unrealized gains	259	647
Gross unrealized losses	6,466	8,210
Estimated fair value	224,293	297,824
REMICs | Non-GSE
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	280	597
Gross unrealized gains	0	0
Gross unrealized losses	10	18
Estimated fair value	270	579
Debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	47,524
Gross unrealized gains	163
Gross unrealized losses	370
Estimated fair value	47,317
Debt securities | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,151
Gross unrealized gains	13
Gross unrealized losses	6
Estimated fair value	2,158
Debt securities | Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	45,373	11,002
Gross unrealized gains	150	9
Gross unrealized losses	364	0
Estimated fair value	45,159	11,011
Other securities
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,483
Gross unrealized gains	0
Gross unrealized losses	15
Estimated fair value	2,468
Other securities | Equity investments - mutual funds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,233	481
Gross unrealized gains	0	0
Gross unrealized losses	15	0
Estimated fair value	1,218	$ 481
Other securities | Other
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	1,250
Gross unrealized gains	0
Gross unrealized losses	0
Estimated fair value	$ 1,250

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Securities Available-for-Sale - Summary Of Expected Maturity Distribution Of Debt Securities Available-For-Sale, Other Than Mortgage-Backed Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Amortized cost	$ 505,834	$ 546,024
Estimated fair value	498,897	$ 541,595
Other Than Mortgage Backed Securities
Amortized cost, Due in one year or less	1,735
Amortized cost, Due after one year through five years	40,695
Amortized cost, Due after five years through ten years	5,094
Amortized cost	47,524
Estimated fair value, Due in one year or less	1,730
Estimated fair value, Due after one year through five years	40,425
Estimated fair value, Due after five years through ten years	5,162
Estimated fair value	$ 47,317

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Securities Available-for-Sale - Narrative (Details)	12 Months Ended
	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Schedule of Available-for-sale Securities [Line Items]
Carrying value of securities available-for-sale | $	$ 108,800,000	$ 101,000,000
Proceeds from sale of securities available-for-sale | $	44,582,000	51,148,000	$ 11,975,000
Gross realized gains on sales of securities available-for-sale | $	493,000	60,000	382,000
Gross realized losses on sales of securities available-for-sale | $	187,000	3,000	0
Impairment charges against earnings | $	0	0	0
Gains on trading securities | $	$ 507,000
Losses on trading securities | $		$ 396,000	$ 155,000
Continuous Unrealized Loss Position Less Than 12 Months | REMIC
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	10
GSE | Continuous Unrealized Loss Position 12 Months Or Longer
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	19
GSE | Continuous Unrealized Loss Position 12 Months Or Longer | REMIC
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	9
GSE | Continuous Unrealized Loss Position Less Than 12 Months | Pass-through certificates
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	22
Non-GSE | Continuous Unrealized Loss Position 12 Months Or Longer | REMIC
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	2
Corporate bonds | Continuous Unrealized Loss Position Less Than 12 Months | REMIC
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	5
Municipal bonds | Continuous Unrealized Loss Position Less Than 12 Months | REMIC
Schedule of Available-for-sale Securities [Line Items]
Number of securities | security	2

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Securities Available-for-Sale - Gross Unrealized Losses On Mortgage-Backed Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	$ 4,710	$ 453
Estimated Fair value, less than 12 months	226,112	46,361
Unrealized losses, 12 months or more	5,449	9,305
Estimated Fair value, 12 months or more	106,398	217,365
Unrealized losses, total	10,159	9,758
Estimated fair value, total	332,510	263,726
Pass-through certificates | GSE
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	2,703	115
Estimated Fair value, less than 12 months	121,878	14,424
Unrealized losses, 12 months or more	595	1,415
Estimated Fair value, 12 months or more	8,402	52,120
Unrealized losses, total	3,298	1,530
Estimated fair value, total	130,280	66,544
REMICs | GSE
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	1,622	338
Estimated Fair value, less than 12 months	75,586	31,937
Unrealized losses, 12 months or more	4,844	7,872
Estimated Fair value, 12 months or more	97,726	164,666
Unrealized losses, total	6,466	8,210
Estimated fair value, total	173,312	196,603
REMICs | Non-GSE
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	0
Estimated Fair value, less than 12 months	0
Unrealized losses, 12 months or more	10	18
Estimated Fair value, 12 months or more	270	579
Unrealized losses, total	10	18
Estimated fair value, total	270	$ 579
Debt securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	15
Estimated Fair value, less than 12 months	947
Unrealized losses, 12 months or more	0
Estimated Fair value, 12 months or more	0
Unrealized losses, total	15
Estimated fair value, total	947
Debt securities | Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	6
Estimated Fair value, less than 12 months	1,679
Unrealized losses, 12 months or more	0
Estimated Fair value, 12 months or more	0
Unrealized losses, total	6
Estimated fair value, total	1,679
Debt securities | Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses, less than 12 months	364
Estimated Fair value, less than 12 months	26,022
Unrealized losses, 12 months or more	0
Estimated Fair value, 12 months or more	0
Unrealized losses, total	364
Estimated fair value, total	$ 26,022

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Securities Held-To-Maturity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 10,148	$ 10,346
Gross Unrealized Gains	29	53
Gross Unrealized Losses	59	30
Estimated fair value of securities held to maturity	10,118	10,369
Held-to-maturity securities pledged to secured repurchase agreements and deposits	5,000	5,600
Mortgage-Backed Securities, Pass-Through Certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	10,148	10,346
Gross Unrealized Gains	29	53
Gross Unrealized Losses	59	30
Estimated fair value of securities held to maturity	$ 10,118	$ 10,369

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Securities Held-to-Maturity - Unrealized Losses and Estimated Fair Value (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss	$ 59	$ 30
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	7,466	3,901
Mortgage-Backed Securities, Pass-Through Certificates
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss	59	30
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 7,466	$ 3,901
Number of held-to-maturity securities in an unrealized loss position | security	4

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Loans - Net Loans Held-For-Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments In Loans [Line Items]
Commercial and industrial loans	$ 31,906	$ 25,554
Other loans	1,497	2,256
Total commercial and industrial and other loans	33,403	27,810
Deferred loan cost, net	6,471	4,844
Originated loans held-for-investment, net	2,144,346	1,931,585
PCI Loans	30,498	33,115
Loans acquired	793,240	409,015
Loans held-for-investment, net	2,968,084	2,373,715
Allowance for loan losses	(24,595)	(24,770)	$ (26,292)	$ (26,037)
Net loans held-for-investment	2,943,489	2,348,945
Real Estate Loans
Investments In Loans [Line Items]
Loans receivable	2,104,472	1,898,931
Real Estate Loans | Multifamily
Investments In Loans [Line Items]
Loans receivable	1,506,335	1,318,461
Loans held-for-investment, net	1,510,100	1,320,724
Allowance for loan losses	(14,952)	(12,387)	(12,219)
Real Estate Loans | Commercial mortgage
Investments In Loans [Line Items]
Loans receivable	412,667	402,073
Loans held-for-investment, net	413,352	402,714
Allowance for loan losses	(5,432)	(7,106)	(9,309)
Real Estate Loans | One-to-four family residential mortgage
Investments In Loans [Line Items]
Loans receivable	105,968	98,332
Loans held-for-investment, net	106,524	99,010
Allowance for loan losses	(664)	(787)	(951)
Real Estate Loans | Home equity and lines of credit
Investments In Loans [Line Items]
Loans receivable	65,437	61,413
Loans held-for-investment, net	66,767	62,594
Allowance for loan losses	(588)	(795)	(901)
Real Estate Loans | Construction and land
Investments In Loans [Line Items]
Loans receivable	14,065	18,652
Loans held-for-investment, net	14,092	18,677
Allowance for loan losses	(172)	(261)	$ (266)
Real Estate Loans Acquired
Investments In Loans [Line Items]
Loans acquired	767,438	409,015
Real Estate Loans Acquired | Multifamily
Investments In Loans [Line Items]
Loans acquired	215,389	64,779
Real Estate Loans Acquired | Commercial mortgage
Investments In Loans [Line Items]
Loans acquired	188,001	11,160
Real Estate Loans Acquired | One-to-four family residential mortgage
Investments In Loans [Line Items]
Loans acquired	317,639	330,672
Real Estate Loans Acquired | Home equity and lines of credit
Investments In Loans [Line Items]
Loans acquired	25,522	2,404
Real Estate Loans Acquired | Construction and land
Investments In Loans [Line Items]
Loans acquired	20,887	0
Acquired Loans
Investments In Loans [Line Items]
Commercial and industrial loans	25,443	0
Other loans	359	0
Loans acquired	$ 793,240	$ 409,015

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Loans - Narrative (Details)	12 Months Ended
	Dec. 31, 2016 USD ($) contract	Dec. 31, 2015 USD ($) contract borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of loans held for sale	$ 0	$ 0
Purchased credit-impaired (PCI) loans held-for-investment	30,498,000	33,115,000
Purchased credit-impaired (PCI) loans held-for-investment, Federal Deposit Insurance Corporation assisted transaction		33,100,000
Principal balance of loans on non accrual status	1,700,000	2,100,000
Investment in non accrual loans	7,300,000	8,800,000
Impairment of loans	5,700,000	6,700,000
Loans held-for-sale non accrual amount	0	0
Loans past 90 days and still accruing	60,000	15,000
Loans with carrying balances not written down	$ 11,500,000	$ 14,500,000
Number of real estate relationships | contract	0	13
Pre-modification outstanding recorded investment		$ 10,909,000
Number of loans modified as TDR that subsequently defaulted | contract		2
Troubled debt restructurings	$ 22,400,000	$ 26,600,000
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal balance of loans on non accrual status	$ 500,000
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchased credit-impaired (PCI) loan percent	30.00%	28.00%
Loan to value ratio	35.00%
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchased credit-impaired (PCI) loan percent	48.00%	52.00%
Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate relationships | contract		1
Pre-modification outstanding recorded investment		$ 6,300,000
Pre-modification number of loans | contract		5
Number of borrowers | borrower		1
Post-modification number of loans | contract		1
Proceeds from Loans		$ 500,000
One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan to value ratio	60.00%
Number of loans modified as TDR that subsequently defaulted | contract		2
Number of borrowers for loans modified as TDR that subsequently defaulted | borrower		1
Recorded investment of subsequently defaulted loans		$ 361,000
Number of loans paid off in full | contract	1
Loans paid off in full	$ 184,000
Hopewell Valley Community Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchased credit-impaired (PCI) loans held-for-investment	$ 4,800,000

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Loans - PCI Loans Acquired from Hopewell Valley (Details) - Hopewell Valley Community Bank $ in Thousands	Jan. 08, 2016 USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Contractually required principal and interest at acquisition	$ 16,580
Contractual cash flows not expected to be collected (non-accretable discount)	(9,929)
Expected cash flows to be collected at acquisition	6,651
Interest component of expected cash flows (accretable discount)	(845)
Fair value of acquired loans	$ 5,806

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Loans - Summary Of Accretable Yield (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at the beginning of year	$ 22,853	$ 27,943
Acquisition	845	0
Accretion into interest income	(5,225)	(4,525)
Net reclassification (to)/from non-accretable difference	5,742	(565)
Balance at end of year	$ 24,215	$ 22,853

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Loans - Activity In The Allowance For Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	$ 24,770	$ 26,292	$ 26,037
Provision for loan losses	635	353	645
Recoveries	194	140	402
Charge-offs	(1,004)	(2,015)	(792)
Ending Balance	$ 24,595	$ 24,770	$ 26,292

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Loans - Allowance For Loan Losses And The Loans Receivable By Portfolio Segment And Based On Impairment Method (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for loan losses:
Beginning Balance	$ 24,770	$ 26,292	$ 26,037
Charge-offs	(1,004)	(2,015)	(792)
Recoveries	194	140	402
Provisions (credit)	635	353	645
Ending Balance	24,595	24,770	26,292
Ending balance: individually evaluated for impairment	328	889
Ending balance: collectively evaluated for impairment	24,267	23,881
Loans, net:
Loans held-for-investment, net	2,968,084	2,373,715
Ending balance: individually evaluated for impairment	26,290	28,987
Ending balance: collectively evaluated for impairment	2,941,794	2,344,728
Commercial and Industrial
Allowance for loan losses:
Beginning Balance	1,288	841
Charge-offs	(66)	(71)
Recoveries	4	34
Provisions (credit)	494	484
Ending Balance	1,720	1,288	841
Ending balance: individually evaluated for impairment	5	4
Ending balance: collectively evaluated for impairment	1,715	1,284
Loans, net:
Loans held-for-investment, net	32,013	25,610
Ending balance: individually evaluated for impairment	101	116
Ending balance: collectively evaluated for impairment	31,912	25,494
Other
Allowance for loan losses:
Beginning Balance	155	134
Charge-offs	(2)	(1)
Recoveries	5	17
Provisions (credit)	(62)	5
Ending Balance	96	155	134
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	96	155
Loans, net:
Loans held-for-investment, net	1,498	2,256
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	1,498	2,256
Unallocated
Allowance for loan losses:
Beginning Balance	1,093	1,209
Charge-offs	0	0
Recoveries	0	0
Provisions (credit)	(1,093)	(116)
Ending Balance	0	1,093	1,209
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	0	1,093
Loans, net:
Loans held-for-investment, net	0	0
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	0	0
Originated Loans Total
Allowance for loan losses:
Beginning Balance	23,872	25,830
Charge-offs	(1,004)	(2,015)
Recoveries	194	140
Provisions (credit)	562	(83)
Ending Balance	23,624	23,872	25,830
Ending balance: individually evaluated for impairment	253	774
Ending balance: collectively evaluated for impairment	23,371	23,098
Loans, net:
Loans held-for-investment, net	2,144,346	1,931,585
Ending balance: individually evaluated for impairment	24,699	25,737
Ending balance: collectively evaluated for impairment	2,119,647	1,905,848
PCI
Allowance for loan losses:
Beginning Balance	783	400
Charge-offs	0	0
Recoveries	0	0
Provisions (credit)	113	383
Ending Balance	896	783	400
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	896	783
Loans, net:
Loans held-for-investment, net	30,498	33,115
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	30,498	33,115
Acquired Loans
Allowance for loan losses:
Beginning Balance	115	62
Charge-offs	0	0
Recoveries	0	0
Provisions (credit)	(40)	53
Ending Balance	75	115	62
Ending balance: individually evaluated for impairment	75	115
Ending balance: collectively evaluated for impairment	0	0
Loans, net:
Loans held-for-investment, net	793,240	409,015
Ending balance: individually evaluated for impairment	1,591	3,250
Ending balance: collectively evaluated for impairment	791,649	405,765
Real Estate Loans | Commercial mortgage
Allowance for loan losses:
Beginning Balance	7,106	9,309
Charge-offs	(638)	(1,431)
Recoveries	181	2
Provisions (credit)	(1,217)	(774)
Ending Balance	5,432	7,106	9,309
Ending balance: individually evaluated for impairment	64	394
Ending balance: collectively evaluated for impairment	5,368	6,712
Loans, net:
Loans held-for-investment, net	413,352	402,714
Ending balance: individually evaluated for impairment	20,710	20,465
Ending balance: collectively evaluated for impairment	392,642	382,249
Real Estate Loans | One-to-four family residential mortgage
Allowance for loan losses:
Beginning Balance	787	951
Charge-offs	(20)	(277)
Recoveries	2	20
Provisions (credit)	(105)	93
Ending Balance	664	787	951
Ending balance: individually evaluated for impairment	66	167
Ending balance: collectively evaluated for impairment	598	620
Loans, net:
Loans held-for-investment, net	106,524	99,010
Ending balance: individually evaluated for impairment	2,180	2,344
Ending balance: collectively evaluated for impairment	104,344	96,666
Real Estate Loans | Construction and land
Allowance for loan losses:
Beginning Balance	261	266
Charge-offs	0	0
Recoveries	0	0
Provisions (credit)	(89)	(5)
Ending Balance	172	261	266
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	172	261
Loans, net:
Loans held-for-investment, net	14,092	18,677
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	14,092	18,677
Real Estate Loans | Multifamily
Allowance for loan losses:
Beginning Balance	12,387	12,219
Charge-offs	(278)	(120)
Recoveries	0	25
Provisions (credit)	2,843	263
Ending Balance	14,952	12,387	12,219
Ending balance: individually evaluated for impairment	95	158
Ending balance: collectively evaluated for impairment	14,857	12,229
Loans, net:
Loans held-for-investment, net	1,510,100	1,320,724
Ending balance: individually evaluated for impairment	1,372	2,458
Ending balance: collectively evaluated for impairment	1,508,728	1,318,266
Real Estate Loans | Home equity and lines of credit
Allowance for loan losses:
Beginning Balance	795	901
Charge-offs	0	(115)
Recoveries	2	42
Provisions (credit)	(209)	(33)
Ending Balance	588	795	$ 901
Ending balance: individually evaluated for impairment	23	51
Ending balance: collectively evaluated for impairment	565	744
Loans, net:
Loans held-for-investment, net	66,767	62,594
Ending balance: individually evaluated for impairment	336	354
Ending balance: collectively evaluated for impairment	$ 66,431	$ 62,240

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Loans - Investment Of Originated Loans Held-For-Investment, Net Of Deferred Fees And Costs, By Loan Type And Credit Quality Indicator (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	$ 2,144,346	$ 1,931,585
Pass
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	2,108,992	1,888,301
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	9,943	8,718
Substandard
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	25,411	34,566
Multifamily | Real Estate Loans | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	122,590	125,504
Multifamily | Real Estate Loans | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,387,510	1,195,220
Multifamily | Real Estate Loans | Pass | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	122,525	124,678
Multifamily | Real Estate Loans | Pass | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,381,231	1,188,916
Multifamily | Real Estate Loans | Special Mention | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	25	51
Multifamily | Real Estate Loans | Special Mention | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	4,636	3,832
Multifamily | Real Estate Loans | Substandard | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	40	775
Multifamily | Real Estate Loans | Substandard | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,643	2,472
Commercial mortgage | Real Estate Loans | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	66,791	54,460
Commercial mortgage | Real Estate Loans | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	346,561	348,254
Commercial mortgage | Real Estate Loans | Pass | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	65,612	52,253
Commercial mortgage | Real Estate Loans | Pass | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	323,842	319,733
Commercial mortgage | Real Estate Loans | Special Mention | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	0	974
Commercial mortgage | Real Estate Loans | Special Mention | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	3,852	2,966
Commercial mortgage | Real Estate Loans | Substandard | Less Than 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,179	1,233
Commercial mortgage | Real Estate Loans | Substandard | Greater Than or Equal to 35% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	18,867	25,555
One-to-four family residential mortgage | Real Estate Loans | Less Than 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	61,726	51,045
One-to-four family residential mortgage | Real Estate Loans | Greater than or Equal to 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	44,798	47,965
One-to-four family residential mortgage | Real Estate Loans | Pass | Less Than 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	59,214	48,429
One-to-four family residential mortgage | Real Estate Loans | Pass | Greater than or Equal to 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	43,316	46,578
One-to-four family residential mortgage | Real Estate Loans | Special Mention | Less Than 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	705	504
One-to-four family residential mortgage | Real Estate Loans | Special Mention | Greater than or Equal to 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	0	0
One-to-four family residential mortgage | Real Estate Loans | Substandard | Less Than 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,807	2,112
One-to-four family residential mortgage | Real Estate Loans | Substandard | Greater than or Equal to 60% LTV
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,482	1,387
Construction and land | Real Estate Loans
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	14,092	18,677
Construction and land | Real Estate Loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	14,092	18,677
Construction and land | Real Estate Loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	0	0
Construction and land | Real Estate Loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	0	0
Home equity and lines of credit | Real Estate Loans
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	66,767	62,594
Home equity and lines of credit | Real Estate Loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	66,489	61,935
Home equity and lines of credit | Real Estate Loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	29	75
Home equity and lines of credit | Real Estate Loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	249	584
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	32,013	25,610
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	31,173	24,846
Commercial and Industrial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	696	316
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	144	448
Other loans
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,498	2,256
Other loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	1,498	2,256
Other loans | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	0	0
Other loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Originated loans held-for-investment, net	$ 0	$ 0

XML

Loans - Estimated Expected Future Cash Flows Of Each PCI Loan Pool (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
90 Days or More Past Due and Accruing	$ 60	$ 15
Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	7,321	8,807
90 Days or More Past Due and Accruing	60	15
Total Non-Performing Loans	7,381	8,822
Non-Performing Loans | Loans Held For Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	6,571	8,378
90 Days or More Past Due and Accruing	52	15
Total Non-Performing Loans	6,623	8,393
Non-Performing Loans | Loans Held For Investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	5,223	5,232
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	5,223	5,232
Non-Performing Loans | Loans Held For Investment | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	5,223	5,232
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	5,223	5,232
Non-Performing Loans | Loans Held For Investment | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	1,209	2,145
90 Days or More Past Due and Accruing	52	0
Total Non-Performing Loans	1,261	2,145
Non-Performing Loans | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		1,109
90 Days or More Past Due and Accruing		0
Total Non-Performing Loans		1,109
Non-Performing Loans | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	1,209	1,109
90 Days or More Past Due and Accruing	9	0
Total Non-Performing Loans	1,218	1,109
Non-Performing Loans | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		1,036
90 Days or More Past Due and Accruing		0
Total Non-Performing Loans		1,036
Non-Performing Loans | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	1,036
90 Days or More Past Due and Accruing	43	0
Total Non-Performing Loans	43	1,036
Non-Performing Loans | Loans Held For Investment | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		113
90 Days or More Past Due and Accruing		0
Total Non-Performing Loans		113
Non-Performing Loans | Loans Held For Investment | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		113
90 Days or More Past Due and Accruing		0
Total Non-Performing Loans		113
Non-Performing Loans | Loans Held For Investment | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	43	559
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	43	559
Non-Performing Loans | Loans Held For Investment | Multifamily | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	40
90 Days or More Past Due and Accruing	0
Total Non-Performing Loans	40
Non-Performing Loans | Loans Held For Investment | Multifamily | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	3	559
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	3	559
Non-Performing Loans | Loans Held For Investment | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	96	329
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	96	329
Non-Performing Loans | Loans Held For Investment | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	96	329
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	96	329
Non-Performing Loans | Loans Held For Investment | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
90 Days or More Past Due and Accruing		15
Total Non-Performing Loans		15
Non-Performing Loans | Loans Held For Investment | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
90 Days or More Past Due and Accruing		15
Total Non-Performing Loans		15
Non-Performing Loans | Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	750	429
90 Days or More Past Due and Accruing	8	0
Total Non-Performing Loans	758	429
Non-Performing Loans | Acquired Loans | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	290
90 Days or More Past Due and Accruing	0
Total Non-Performing Loans	290
Non-Performing Loans | Acquired Loans | Commercial mortgage | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	231
90 Days or More Past Due and Accruing	0
Total Non-Performing Loans	231
Non-Performing Loans | Acquired Loans | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	59
90 Days or More Past Due and Accruing	0
Total Non-Performing Loans	59
Non-Performing Loans | Acquired Loans | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	420	429
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	420	429
Non-Performing Loans | Acquired Loans | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	420	429
90 Days or More Past Due and Accruing	0	0
Total Non-Performing Loans	420	429
Non-Performing Loans | Acquired Loans | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	31
90 Days or More Past Due and Accruing	8
Total Non-Performing Loans	39
Non-Performing Loans | Acquired Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	9
90 Days or More Past Due and Accruing	0
Total Non-Performing Loans	9
Non-Performing Loans | 0-29 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	1,185	2,038
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	765	1,609
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	341	344
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	341	344
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	384	1,265
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		364
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	384	364
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		901
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	901
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	40	0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Multifamily | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	40
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Multifamily | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	420	429
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | Commercial mortgage | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	420	429
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	420	429
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 0-29 Days Past Due | Acquired Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	479	687
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	479	687
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	372
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	372
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	383	315
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		180
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	383	180
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		135
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	135
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Multifamily | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Multifamily | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	96	0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	96	0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | Commercial mortgage | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 30-89 Days Past Due | Acquired Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	5,657	6,082
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	5,327	6,082
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	4,882	4,516
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	4,882	4,516
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	442	565
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		565
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	442	565
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		113
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		113
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	3	559
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Multifamily | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Multifamily | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	3	559
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	329
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	329
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 90 Days or More Past Due | Loans Held For Investment | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans		0
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	330	0
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	290
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | Commercial mortgage | Less Than 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	231
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | Commercial mortgage | Greater Than or Equal to 35% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	59
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	0
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | One-to-four family residential mortgage | Less Than 60% LTV | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	0	$ 0
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	31
Non-Performing Loans | 90 Days or More Past Due | Acquired Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Accruing Loans	$ 9

XML

Loans - Detail And Delinquency Status Of Originated Loans Held-For-Investment, Net Of Deferred Fees And Costs, By Performing And Non-Performing Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	$ 2,144,346	$ 1,931,585
Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	7,321	8,807
Non-Performing Loans	7,381	8,822
Loans Held For Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	2,144,346	1,931,585
Loans Held For Investment | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,137,723	1,923,192
Loans Held For Investment | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	6,623	8,393
Loans Held For Investment | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	413,352	402,714
Loans Held For Investment | Commercial mortgage | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	66,791	54,460
Loans Held For Investment | Commercial mortgage | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	346,561	348,254
Loans Held For Investment | Commercial mortgage | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	65,612	52,253
Loans Held For Investment | Commercial mortgage | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	323,842	319,733
Loans Held For Investment | Commercial mortgage | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net		974
Loans Held For Investment | Commercial mortgage | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	3,852	2,966
Loans Held For Investment | Commercial mortgage | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,179	1,233
Loans Held For Investment | Commercial mortgage | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	18,867	25,555
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	408,129	397,482
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,791	54,460
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	341,338	343,022
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	65,612	52,253
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	323,842	319,733
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		974
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,852	2,966
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,179	1,233
Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	13,644	20,323
Loans Held For Investment | Commercial mortgage | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	5,223	5,232
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	5,223	5,232
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans		0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial mortgage | Non-Performing Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	5,223	5,232
Loans Held For Investment | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	106,524	99,010
Loans Held For Investment | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	61,726	51,045
Loans Held For Investment | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	44,798	47,965
Loans Held For Investment | One-to-four family residential mortgage | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	59,214	48,429
Loans Held For Investment | One-to-four family residential mortgage | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	43,316	46,578
Loans Held For Investment | One-to-four family residential mortgage | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	705	504
Loans Held For Investment | One-to-four family residential mortgage | Special Mention | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	0
Loans Held For Investment | One-to-four family residential mortgage | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,807	2,112
Loans Held For Investment | One-to-four family residential mortgage | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,482	1,387
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	105,263	96,865
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	60,508	49,936
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	44,755	46,929
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	59,214	48,429
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	43,316	46,578
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	705	504
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	589	1,003
Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,439	351
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	1,261	2,145
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	1,218	1,109
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	43	1,036
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Special Mention | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	1,218	1,109
Loans Held For Investment | One-to-four family residential mortgage | Non-Performing Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	43	1,036
Loans Held For Investment | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	14,092	18,677
Loans Held For Investment | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	14,092	18,677
Loans Held For Investment | Construction and land | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	0
Loans Held For Investment | Construction and land | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	0
Loans Held For Investment | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	14,092	18,564
Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	14,092	18,564
Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
Loans Held For Investment | Construction and land | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	113
Loans Held For Investment | Construction and land | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	113
Loans Held For Investment | Construction and land | Non-Performing Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Loans Held For Investment | Construction and land | Non-Performing Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Loans Held For Investment | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,510,100	1,320,724
Loans Held For Investment | Multifamily | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	122,590	125,504
Loans Held For Investment | Multifamily | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,387,510	1,195,220
Loans Held For Investment | Multifamily | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	122,525	124,678
Loans Held For Investment | Multifamily | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,381,231	1,188,916
Loans Held For Investment | Multifamily | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	25	51
Loans Held For Investment | Multifamily | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	4,636	3,832
Loans Held For Investment | Multifamily | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	40	775
Loans Held For Investment | Multifamily | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,643	2,472
Loans Held For Investment | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,510,057	1,320,165
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	122,550	125,504
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,387,507	1,194,661
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	122,525	124,678
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,381,231	1,188,916
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25	51
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	4,636	3,832
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	775
Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,640	1,913
Loans Held For Investment | Multifamily | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	43	559
Loans Held For Investment | Multifamily | Non-Performing Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	40	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	3	559
Loans Held For Investment | Multifamily | Non-Performing Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	40	0
Loans Held For Investment | Multifamily | Non-Performing Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	3	559
Loans Held For Investment | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	66,767	62,594
Loans Held For Investment | Home equity and lines of credit | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	66,489	61,935
Loans Held For Investment | Home equity and lines of credit | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	29	75
Loans Held For Investment | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	249	584
Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,671	62,265
Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,489	61,935
Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	29	75
Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	153	255
Loans Held For Investment | Home equity and lines of credit | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	96	329
Loans Held For Investment | Home equity and lines of credit | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Home equity and lines of credit | Non-Performing Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Home equity and lines of credit | Non-Performing Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	96	329
Loans Held For Investment | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	32,013	25,610
Loans Held For Investment | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	31,173	24,846
Loans Held For Investment | Commercial and Industrial | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	696	316
Loans Held For Investment | Commercial and Industrial | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	144	448
Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	32,013	25,595
Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	31,173	24,831
Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	696	316
Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	144	448
Loans Held For Investment | Commercial and Industrial | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	15
Loans Held For Investment | Commercial and Industrial | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	15
Loans Held For Investment | Commercial and Industrial | Non-Performing Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Commercial and Industrial | Non-Performing Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,498	2,256
Loans Held For Investment | Other loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,498	2,256
Loans Held For Investment | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,498	2,256
Loans Held For Investment | Other loans | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,498	2,256
Loans Held For Investment | Other loans | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Loans Held For Investment | Other loans | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	793,240	409,015
Acquired Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	792,482	408,586
Acquired Loans | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	758	429
Acquired Loans | Commercial mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	188,001	11,160
Acquired Loans | Commercial mortgage | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	63,616	2,893
Acquired Loans | Commercial mortgage | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	124,385	8,267
Acquired Loans | Commercial mortgage | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	61,653	2,164
Acquired Loans | Commercial mortgage | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	120,064	5,536
Acquired Loans | Commercial mortgage | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	286
Acquired Loans | Commercial mortgage | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	584	883
Acquired Loans | Commercial mortgage | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,677	729
Acquired Loans | Commercial mortgage | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	3,737	1,848
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	187,711	11,160
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	63,385	2,893
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	124,326	8,267
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	61,653	2,164
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	120,064	5,536
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	286
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	584	883
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,446	729
Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,678	1,848
Acquired Loans | Commercial mortgage | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	290	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	231	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	59	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	231	0
Acquired Loans | Commercial mortgage | Non-Performing Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	59	0
Acquired Loans | One-to-four family residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	317,639	330,672
Acquired Loans | One-to-four family residential mortgage | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	286,974	315,629
Acquired Loans | One-to-four family residential mortgage | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	30,665	15,043
Acquired Loans | One-to-four family residential mortgage | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	285,137	313,737
Acquired Loans | One-to-four family residential mortgage | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	30,199	14,759
Acquired Loans | One-to-four family residential mortgage | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	502	549
Acquired Loans | One-to-four family residential mortgage | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	1,335	1,343
Acquired Loans | One-to-four family residential mortgage | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	466	284
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	317,219	330,243
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	286,554	315,200
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	30,665	15,043
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	285,137	313,737
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	30,199	14,759
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	502	549
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	915	914
Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	466	284
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	420	429
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	420	429
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	420	429
Acquired Loans | One-to-four family residential mortgage | Non-Performing Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	20,887
Acquired Loans | Construction and land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	20,887
Acquired Loans | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	20,887
Acquired Loans | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	20,887
Acquired Loans | Construction and land | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Construction and land | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	215,389	64,779
Acquired Loans | Multifamily | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	205,391	4,833
Acquired Loans | Multifamily | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	9,998	59,946
Acquired Loans | Multifamily | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	205,025	4,695
Acquired Loans | Multifamily | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	9,569	59,632
Acquired Loans | Multifamily | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	210	138
Acquired Loans | Multifamily | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net		314
Acquired Loans | Multifamily | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	156
Acquired Loans | Multifamily | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	429
Acquired Loans | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	215,389	64,779
Acquired Loans | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	205,391	4,833
Acquired Loans | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	9,998	59,946
Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	205,025	4,695
Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	9,569	59,632
Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	210	138
Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		314
Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	156
Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	429
Acquired Loans | Multifamily | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Multifamily | Non-Performing Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans		0
Acquired Loans | Multifamily | Non-Performing Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Multifamily | Non-Performing Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Home equity and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	25,522	2,404
Acquired Loans | Home equity and lines of credit | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	25,385	2,404
Acquired Loans | Home equity and lines of credit | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	137
Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,483	2,404
Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,385	2,404
Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	98
Acquired Loans | Home equity and lines of credit | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	39	0
Acquired Loans | Home equity and lines of credit | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0	0
Acquired Loans | Home equity and lines of credit | Non-Performing Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	39
Acquired Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	25,443
Acquired Loans | Commercial and Industrial | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	25,419
Acquired Loans | Commercial and Industrial | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	24
Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,434
Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,419
Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	15
Acquired Loans | Commercial and Industrial | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	9
Acquired Loans | Commercial and Industrial | Non-Performing Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Acquired Loans | Commercial and Industrial | Non-Performing Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	9
Acquired Loans | Other loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	359
Acquired Loans | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	359
Acquired Loans | Other loans | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	0
Total Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated loans held-for-investment, net	2,937,586	2,340,600
Total Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,930,205	2,331,778
Total Loans | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Performing Loans	7,381	8,822
0-29 Days Past Due | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,185	2,038
0-29 Days Past Due | Loans Held For Investment | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,130,390	1,902,790
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	405,127	384,254
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,368	53,181
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	338,759	331,073
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	65,189	50,974
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	322,307	319,411
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		974
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,852	2,966
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,179	1,233
0-29 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	12,600	8,696
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	102,131	93,145
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	57,376	46,567
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	44,755	46,578
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	56,787	45,737
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	43,316	46,578
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	134
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	589	696
0-29 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,439	0
0-29 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	14,092	18,564
0-29 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	14,092	18,564
0-29 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,509,157	1,317,200
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	122,550	125,453
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,386,607	1,191,747
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	122,525	124,678
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,380,331	1,187,147
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25	0
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	4,636	2,687
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	775
0-29 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,640	1,913
0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,551	61,891
0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	66,369	61,561
0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	29	75
0-29 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	153	255
0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	31,880	25,491
0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	31,040	24,780
0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	696	316
0-29 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	144	395
0-29 Days Past Due | Loans Held For Investment | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,452	2,245
0-29 Days Past Due | Loans Held For Investment | Other loans | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,452	2,245
0-29 Days Past Due | Acquired Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	789,715	407,368
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	186,135	10,431
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	62,338	2,164
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	123,797	8,267
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	61,646	2,164
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	119,932	5,536
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	286
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	446	883
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	406	0
0-29 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,419	1,848
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	316,730	329,754
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	286,272	314,711
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	30,458	15,043
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	285,116	313,425
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	30,199	14,759
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	502	549
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	654	737
0-29 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	259	284
0-29 Days Past Due | Acquired Loans | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	20,887
0-29 Days Past Due | Acquired Loans | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	20,887
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	214,849	64,779
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	205,280	4,833
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	9,569	59,946
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	205,025	4,695
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	9,569	59,632
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	99	138
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		314
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	156
0-29 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,340	2,404
0-29 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,340	2,404
0-29 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,419
0-29 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	25,419
0-29 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
0-29 Days Past Due | Acquired Loans | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	355
0-29 Days Past Due | Total Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,920,105	2,310,158
30-89 Days Past Due | Non-Performing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	479	687
30-89 Days Past Due | Loans Held For Investment | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	7,333	20,402
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,002	13,228
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	423	1,279
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,579	11,949
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	423	1,279
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,535	322
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		0
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,044	11,627
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,132	3,720
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	3,132	3,369
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	351
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,427	2,692
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	705	370
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	307
30-89 Days Past Due | Loans Held For Investment | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	351
30-89 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Loans Held For Investment | Construction and land | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	900	2,965
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	51
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	900	2,914
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	900	1,769
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	51
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	1,145
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	120	374
30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	120	374
30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	133	104
30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	133	51
30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Loans Held For Investment | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	53
30-89 Days Past Due | Loans Held For Investment | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	46	11
30-89 Days Past Due | Loans Held For Investment | Other loans | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	46	11
30-89 Days Past Due | Acquired Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	2,767	1,218
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,576	729
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,047	729
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	529	0
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	7	0
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	132	0
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	138	0
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	1,040	729
30-89 Days Past Due | Acquired Loans | Commercial mortgage | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	259	0
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	489	489
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	282	489
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	207	0
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	21	312
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Pass | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Special Mention | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Less Than 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	261	177
30-89 Days Past Due | Acquired Loans | One-to-four family residential mortgage | Performing (Accruing) Loans | Substandard | Greater than or Equal to 60% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	207	0
30-89 Days Past Due | Acquired Loans | Construction and land | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Acquired Loans | Construction and land | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	540	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	111	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	429	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Pass | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	111	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Special Mention | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans		0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Less Than 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Acquired Loans | Multifamily | Performing (Accruing) Loans | Substandard | Greater Than or Equal to 35% LTV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	429
30-89 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	143	0
30-89 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	45	0
30-89 Days Past Due | Acquired Loans | Home equity and lines of credit | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	98
30-89 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	15
30-89 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	0
30-89 Days Past Due | Acquired Loans | Commercial and Industrial | Performing (Accruing) Loans | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	15
30-89 Days Past Due | Acquired Loans | Other loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	4
30-89 Days Past Due | Total Loans | Performing (Accruing) Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Performing (Accruing) Loans	$ 10,100	$ 21,620

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Loans - Summary Of Impaired Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Related Allowance	$ (328)	$ (889)
Recorded investment	26,290	28,987
Unpaid Principal Balance	29,352	31,713
Commercial mortgage
Financing Receivable, Impaired [Line Items]
Related Allowance	(64)	(394)
Recorded investment	20,710	22,313
Unpaid Principal Balance	23,073	24,505
Commercial mortgage | Pass | Greater Than or Equal to 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	3,911	4,051
Unpaid Principal Balance With No Related Allowance Recorded	4,047	4,188
Commercial mortgage | Substandard | Less Than 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	0	0
Unpaid Principal Balance With No Related Allowance Recorded	139	139
Commercial mortgage | Substandard | Greater Than or Equal to 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	14,780	13,371
Recorded Investment With a Related Allowance Recorded	2,019	4,891
Unpaid Principal Balance With No Related Allowance Recorded	16,868	14,748
Unpaid Principal Balance With a Related Allowance Recorded	2,019	5,430
Related Allowance	(64)	(394)
One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Related Allowance	(141)	(282)
Recorded investment	3,615	3,746
Unpaid Principal Balance	3,843	3,810
One-to-four family residential mortgage | Pass | Less Than 60% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	633	221
Recorded Investment With a Related Allowance Recorded	0	503
Unpaid Principal Balance With No Related Allowance Recorded	633	221
Unpaid Principal Balance With a Related Allowance Recorded	0	503
Related Allowance	0	(33)
One-to-four family residential mortgage | Pass | Greater than or Equal to 60% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With a Related Allowance Recorded	275
Unpaid Principal Balance With a Related Allowance Recorded	275
Related Allowance	(3)
One-to-four family residential mortgage | Special Mention | Greater than or Equal to 60% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With a Related Allowance Recorded	0	1,034
Unpaid Principal Balance With a Related Allowance Recorded	0	1,081
Related Allowance	0	(97)
One-to-four family residential mortgage | Substandard | Less Than 60% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	184	234
Recorded Investment With a Related Allowance Recorded	1,522	1,604
Unpaid Principal Balance With No Related Allowance Recorded	184	234
Unpaid Principal Balance With a Related Allowance Recorded	1,522	1,604
Related Allowance	(97)	(152)
One-to-four family residential mortgage | Substandard | Greater than or Equal to 60% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	620	150
Recorded Investment With a Related Allowance Recorded	381	0
Unpaid Principal Balance With No Related Allowance Recorded	848	167
Unpaid Principal Balance With a Related Allowance Recorded	381	0
Related Allowance	(41)	0
Multifamily
Financing Receivable, Impaired [Line Items]
Related Allowance	(95)	(158)
Recorded investment	1,528	2,458
Unpaid Principal Balance	1,999	2,928
Multifamily | Pass | Greater Than or Equal to 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	63	75
Recorded Investment With a Related Allowance Recorded	1,309	0
Unpaid Principal Balance With No Related Allowance Recorded	534	545
Unpaid Principal Balance With a Related Allowance Recorded	1,309	0
Related Allowance	(95)	0
Multifamily | Substandard | Less Than 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	156	0
Unpaid Principal Balance With No Related Allowance Recorded	156	0
Multifamily | Substandard | Greater Than or Equal to 35% LTV
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	0	1,012
Recorded Investment With a Related Allowance Recorded	0	1,371
Unpaid Principal Balance With No Related Allowance Recorded	0	1,012
Unpaid Principal Balance With a Related Allowance Recorded	0	1,371
Related Allowance	0	(158)
Home equity and lines of credit
Financing Receivable, Impaired [Line Items]
Related Allowance	(23)	(51)
Recorded investment	336	354
Unpaid Principal Balance	336	354
Home equity and lines of credit | Pass
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	39	0
Recorded Investment With a Related Allowance Recorded	258	269
Unpaid Principal Balance With No Related Allowance Recorded	39	0
Unpaid Principal Balance With a Related Allowance Recorded	258	269
Related Allowance	(5)	(11)
Home equity and lines of credit | Special Mention
Financing Receivable, Impaired [Line Items]
Recorded Investment With a Related Allowance Recorded	0	44
Unpaid Principal Balance With a Related Allowance Recorded	0	44
Related Allowance	0	(19)
Home equity and lines of credit | Substandard
Financing Receivable, Impaired [Line Items]
Recorded Investment With a Related Allowance Recorded	39	41
Unpaid Principal Balance With a Related Allowance Recorded	39	41
Related Allowance	(18)	(21)
Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Related Allowance	(5)	(4)
Recorded investment	101	116
Unpaid Principal Balance	101	116
Commercial and Industrial | Special Mention
Financing Receivable, Impaired [Line Items]
Recorded Investment With a Related Allowance Recorded	26	29
Unpaid Principal Balance With a Related Allowance Recorded	26	29
Related Allowance	(5)	(4)
Commercial and Industrial | Substandard
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Related Allowance Recorded	75	87
Unpaid Principal Balance With No Related Allowance Recorded	$ 75	$ 87

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Loans - Impaired loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Average recorded investment	$ 29,869	$ 31,978
Interest income	943	1,473
Commercial mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment	23,633	26,665
Interest income	743	1,143
One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment	3,729	2,542
Interest income	114	220
Multifamily
Financing Receivable, Impaired [Line Items]
Average recorded investment	2,053	2,167
Interest income	73	96
Home equity and lines of credit
Financing Receivable, Impaired [Line Items]
Average recorded investment	346	346
Interest income	12	12
Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Average recorded investment	108	258
Interest income	1	2
Pass | Home equity and lines of credit
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	8
Interest income, with no related allowance	3
Average recorded investment, with a related allowance	264	163
Interest income, with a related allowance	8	7
Pass | Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Average recorded investment, with a related allowance	0
Interest income, with a related allowance	0
Special Mention | Home equity and lines of credit
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	0	29
Interest income, with no related allowance	0	0
Average recorded investment, with a related allowance	34	129
Interest income, with a related allowance	0	3
Special Mention | Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	0	59
Interest income, with no related allowance	0	0
Average recorded investment, with a related allowance	27	24
Interest income, with a related allowance	1	2
Substandard | Home equity and lines of credit
Financing Receivable, Impaired [Line Items]
Average recorded investment, with a related allowance	40	25
Interest income, with a related allowance	1	2
Substandard | Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	81	93
Interest income, with no related allowance	0	0
Average recorded investment, with a related allowance	0	82
Interest income, with a related allowance	0	0
Less Than 35% LTV | Substandard | Commercial mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	0	0
Interest income, with no related allowance	39	0
Less Than 35% LTV | Substandard | Multifamily
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	62	0
Interest income, with no related allowance	6	0
Greater Than or Equal to 35% LTV | Pass | Commercial mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	3,980	2,938
Interest income, with no related allowance	192	184
Average recorded investment, with a related allowance	0	668
Interest income, with a related allowance	0	0
Greater Than or Equal to 35% LTV | Pass | Multifamily
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	69	80
Interest income, with no related allowance	17	17
Average recorded investment, with a related allowance	794	0
Interest income, with a related allowance	50	0
Greater Than or Equal to 35% LTV | Special Mention | Commercial mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	0	109
Interest income, with no related allowance	0	0
Greater Than or Equal to 35% LTV | Substandard | Commercial mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	13,853	12,593
Interest income, with no related allowance	450	884
Average recorded investment, with a related allowance	5,800	10,357
Interest income, with a related allowance	62	75
Greater Than or Equal to 35% LTV | Substandard | Multifamily
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	582	688
Interest income, with no related allowance	0	27
Average recorded investment, with a related allowance	546	1,399
Interest income, with a related allowance	0	52
Less Than 60% LTV | Pass | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	559	207
Interest income, with no related allowance	31	9
Average recorded investment, with a related allowance	137	263
Interest income, with a related allowance	0	19
Less Than 60% LTV | Special Mention | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	0	55
Interest income, with no related allowance	0	0
Average recorded investment, with a related allowance	0	127
Interest income, with a related allowance	0	0
Less Than 60% LTV | Substandard | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	213	188
Interest income, with no related allowance	21	22
Average recorded investment, with a related allowance	1,575	1,017
Interest income, with a related allowance	26	65
Greater than or Equal to 60% LTV | Pass | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with a related allowance	110	0
Interest income, with a related allowance	6	0
Greater than or Equal to 60% LTV | Special Mention | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with a related allowance	0	207
Interest income, with a related allowance	0	0
Greater than or Equal to 60% LTV | Substandard | One-to-four family residential mortgage
Financing Receivable, Impaired [Line Items]
Average recorded investment, with no related allowance	339	101
Interest income, with no related allowance	26	3
Average recorded investment, with a related allowance	796	377
Interest income, with a related allowance	$ 4	$ 102

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Loans - Summary Of Troubled Debt Restructuring (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016 contract	Dec. 31, 2015 USD ($) contract
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract	0	13
Pre-Modification Outstanding Recorded Investment		$ 10,909
Post-Modification Outstanding Recorded Investment		$ 10,409
Commercial mortgage
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract		1
Pre-Modification Outstanding Recorded Investment		$ 6,300
Commercial mortgage | Substandard
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract		3
Pre-Modification Outstanding Recorded Investment		$ 8,957
Post-Modification Outstanding Recorded Investment		$ 8,457
One-to-four family residential mortgage | Substandard
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract		8
Pre-Modification Outstanding Recorded Investment		$ 1,889
Post-Modification Outstanding Recorded Investment		$ 1,889
One-to-four family residential mortgage | Pass
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract		1
Pre-Modification Outstanding Recorded Investment		$ 20
Post-Modification Outstanding Recorded Investment		$ 20
Home equity and lines of credit | Substandard
Financing Receivable, Modifications [Line Items]
Number of Relationships | contract		1
Pre-Modification Outstanding Recorded Investment		$ 43
Post-Modification Outstanding Recorded Investment		$ 43

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Premises and Equipment, Net - Premises And Equipment Less Accumulated Depreciation And Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 64,834	$ 57,976
Accumulated depreciation and amortization	(37,924)	(34,333)
Premises and equipment, net	26,910	23,643
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	4,018	2,530
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	8,856	6,695
Capital leases
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	2,600	2,600
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	21,962	19,954
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 27,398	$ 26,197

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Premises and Equipment, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,600,000	$ 3,400,000	$ 3,600,000
Gain on sale of premises and equipment	$ 0	$ 0	$ 0

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Deposits - Deposit Account Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Banking and Thrift [Abstract]
Negotiable orders of withdrawal	$ 467,440	$ 217,813
Non-interest-bearing demand	390,484	263,073
Total transactions	857,924	480,886
Money market	818,660	548,132
Savings	500,926	524,043
Total savings	1,319,586	1,072,175
Under $250,000	484,480	461,127
$250,000 or more	51,597	38,741
Total certificates of deposit	536,077	499,868
Total deposits	$ 2,713,587	$ 2,052,929
Weighted Average Rate, Negotiable orders of withdrawal	0.34%	0.25%
Weighted Average Rate, Total transactions	0.19%	0.11%
Weighted Average Rate, Money market	0.67%	0.62%
Weighted Average Rate, Savings	0.24%	0.47%
Weighted Average Rate, Total Savings	0.51%	0.55%
Weighted Average Rate, Under $250,000	1.22%	1.11%
Weighted Average Rate, $250,000 or more	1.48%	1.73%
Weighted Average Rate, Total certificates of deposit	1.24%	1.15%
Weighted Average Rate, Total deposits	0.55%	0.59%

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Deposits - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Certificates of Deposit
Time Deposits [Line Items]
Brokered deposits	$ 98.8	$ 157.1

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Deposits - Maturities Of Certificates Of Deposit (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Banking and Thrift [Abstract]
2017	$ 237,733
2018	109,599
2019	94,622
2020	78,344
2021	15,779
Thereafter	0
Total certificates of deposit	$ 536,077	$ 499,868

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Deposits - Interest Expense On Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Negotiable order of withdrawal and money market	$ 5,634	$ 2,816	$ 1,766
Savings-passbook and statement	2,124	2,141	445
Certificates of deposit	6,529	5,466	3,180
Total interest expense on deposits	$ 14,287	$ 10,423	$ 5,391

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Borrowings - Summary Of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Repurchase agreements	$ 8,000	$ 63,000
Other borrowings:
FHLB advances	453,220	487,130
Floating rate advances	11,463	7,272
Obligations under capital leases	523	727
Total long term debt	$ 473,206	$ 558,129

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Borrowings - Contractual Maturities Repurchase Agreements And FHLB Advances (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Long Term Debt Maturities Repayments Of Principal [Line Items]
Total long term debt	$ 473,206	$ 558,129
Repurchase agreements
Long Term Debt Maturities Repayments Of Principal [Line Items]
2017	6,000
2018	2,000
2019	0
2020	0
2021	0
Total long term debt	8,000
FHLB advances
Long Term Debt Maturities Repayments Of Principal [Line Items]
2017	159,003
2018	140,715
2019	93,502
2020	60,000
2021	0
Total long term debt	$ 453,220

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Borrowings - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Short Term And Long Term Debt [Line Items]
FHLB advances	$ 837.8
Unencumbered securities	123.0
Multifamily loans held as collateral	$ 798.6
Repurchase agreements
Schedule Of Short Term And Long Term Debt [Line Items]
Weighted average interest rate	3.19%	2.77%
Maturity in the first quarter	$ 4.0	$ 51.0
Maturity in more than 90 days	4.0	12.0
Repurchase agreements | Mortgage Backed Securities
Schedule Of Short Term And Long Term Debt [Line Items]
Mortgage-backed securities amortized cost	13.7	69.1
Mortgage-backed securities held for sale fair value	$ 13.9	$ 70.7
Repurchase agreements | Maturity over 90 days
Schedule Of Short Term And Long Term Debt [Line Items]
Maturity period	90 days

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Borrowings - Summary Of Interest Expense On Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest Expense [Line Items]
Interest expense	$ 7,381	$ 9,265	$ 9,961
Obligations under capital leases
Interest Expense [Line Items]
Interest expense	42	60	80
FHLB advances
Interest Expense [Line Items]
Interest expense	6,743	6,742	5,717
Floating rate advances
Interest Expense [Line Items]
Interest expense	27	17	3
Repurchase agreements
Interest Expense [Line Items]
Interest expense	$ 569	$ 2,446	$ 4,161

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Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Federal tax expense (benefit):
Current	$ 14,218	$ 11,796	$ 11,195
Deferred	(1,260)	(2,305)	(1,675)
Federal tax expense (benefit)	12,958	9,491	9,520
State and local tax expense (benefit):
Current	2,506	1,811	1,828
Deferred	(1,799)	673	508
State and local tax expense (benefit)	707	2,484	2,336
Income tax expense	$ 13,665	$ 11,975	$ 11,856

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Income Taxes - Reconciliation Between The Amount Of Reported Total Income Tax Expense And The Amount Computed By Multiplying The Applicable Statutory Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Tax expense at statutory rate of 35%	$ 13,928	$ 11,027	$ 11,242
Increase (decrease) in taxes resulting from:
State tax, net of federal income tax	460	1,615	1,519
Bank owned life insurance	(1,399)	(1,319)	(1,366)
Merger related costs	74	201	0
Incentive stock options	299	210	134
Uncertain tax position	178	51	131
Other, net	125	190	196
Income tax expense	$ 13,665	$ 11,975	$ 11,856
Statutory Rate	35.00%	35.00%	35.00%

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Income Taxes - Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Allowance for loan losses	$ 9,470	$ 9,514
Capitalized leases	213	287
Deferred compensation	5,686	2,450
Accrued salaries	1,128	910
Postretirement benefits	576	555
Equity awards	5,005	4,707
Unrealized actuarial losses on post retirement benefits	124	217
Straight-line leases adjustment	1,219	1,099
Asset retirement obligation	89	97
Reserve for accrued interest receivable	1,116	775
Reserve for loan commitments	193	127
Employee Stock Ownership Plan	642	532
Other	366	358
Depreciation	2,509	2,123
Fair value adjustments of acquired loans	10,168	7,105
Fair value adjustments of pension benefit obligations	250	267
Unrealized losses on securities	2,775	1,780
Total gross deferred tax assets	41,529	32,903
Deferred tax liabilities:
Fair value adjustments of acquired securities	82	9
Fair value adjustments of deposit liabilities	547	30
Deferred loan fees	1,910	1,777
Other	59	21
Total gross deferred tax liabilities	2,598	1,837
Net deferred tax asset	$ 38,931	$ 31,066

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Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Net deferred tax asset	$ 38,931	$ 31,066
Bad debt base year reserve	5,900	5,900
Federal tax bad debt deferred tax liability	2,800	$ 2,800
Hopewell Valley Community Bank
Operating Loss Carryforwards [Line Items]
Net deferred tax asset	$ 3,900

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Income Taxes - Reconciliation Of Uncertain Tax Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 281	$ 230	$ 679
Settlements based on tax positions related to prior years	0	0	(580)
Additions based on tax positions related to prior years	178	51	131
Unrecognized Tax Benefits, Ending Balance	$ 281	$ 230	$ 679	$ 459

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Retirement Benefits - Narrative (Details)	1 Months Ended	12 Months Ended
	Feb. 28, 2014 USD ($)	Dec. 31, 2016 USD ($) $ / shares payment shares	Dec. 31, 2015 USD ($) shares	Dec. 31, 2014 USD ($)	Dec. 31, 2006 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Requisite service period for employees to be eligible for 401(k) plan		3 months
Percent of employer match on employee contributions		25.00%
Percent of base compensation contributed by eligible employees		6.00%
Contribution plan participation period (years)		3 years
Contribution plan subsequent participation period (years)		3 years
Requisite service period for members to become fully vested		5 years
Company contribution amount		$ 384,000	$ 321,000	$ 292,000
ESOP compensation expense		2,000,000	1,900,000	1,700,000
Estimated loss that will be amortized from accumulated other comprehensive income (loss) into net periodic cost		28,000
Prior service cost that will be amortized from accumulated other comprehensive income (loss) into net periodic cost		0
Transition obligation that will be amortized from accumulated other comprehensive income (loss) into net periodic cost		$ 0
Medical cost trend rate		8.75%
Medical cost trend rate reduction percent per year		0.50%
Medical cost trend rate ultimate rate		4.75%
Benefits paid		$ 118,000	116,000	85,000
Benefits expected to be paid under the postretirement health benefits plan in 2017		120,000
Benefits expected to be paid under the postretirement health benefits plan in 2018		123,000
Benefits expected to be paid under the postretirement health benefits plan in 2019		126,000
Benefits expected to be paid under the postretirement health benefits plan in 2020		128,000
Benefits expected to be paid under the postretirement health benefits plan in 2021		129,000
Benefits expected to be paid under the postretirement health benefits plan in 2022 through 2026		$ 617,000
Pre-tax gain	$ 937,000
Number of monthly payments | payment		120
Agreement monthly payment		$ 17,450
Present value of agreement obligation		0	154,000		$ 1,600,000
Supplemental Employee Retirement Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation		14,100,000	6,900,000
Benefit plan (income) expense		$ (503,000)	(392,000)	(153,000)
Minimum
Defined Benefit Plan Disclosure [Line Items]
Percent of compensation employees can invest in 401(k) plan		2.00%
Matching contribution percent		25.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Percent of compensation employees can invest in 401(k) plan		15.00%
Matching contribution percent		50.00%
First ESOP
Defined Benefit Plan Disclosure [Line Items]
Employee stock ownership plan, shares authorized and purchased | shares		2,463,884
Initial public offering price (usd per share) | $ / shares		$ 7.13
Outstanding loan balance		$ 12,100,000	$ 12,700,000
Shares released and allocated to participants | shares		97,836	80,131
Second ESOP
Defined Benefit Plan Disclosure [Line Items]
Employee stock ownership plan, shares authorized and purchased | shares		1,422,357
Initial public offering price (usd per share) | $ / shares		$ 10.00
Outstanding loan balance		$ 12,900,000	$ 13,300,000
Shares released and allocated to participants | shares		50,086	47,384
Supplemental ESOP
Defined Benefit Plan Disclosure [Line Items]
Company contribution to SESOP plan		$ 82,000	$ 82,000	$ 7,000

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Retirement Benefits - Funded Status And Components Of Post Retirement Benefit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefits paid	$ (118)	$ (116)	$ (85)
Other Pension Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Accumulated postretirement benefit obligation beginning of year	1,950	1,846	1,294
Service cost	8	9	6
Interest cost	71	62	53
Actuarial (gain) loss	(214)	149	578
Benefits paid	(118)	(116)	(85)
Accumulated postretirement benefit obligation end of year	1,697	1,950	1,846
Accrued liability (included in accrued expenses and other liabilities)	$ 1,697	$ 1,950	$ 1,846

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Retirement Benefits - Amounts Recognized In Accumulated Other Comprehensive Income (Loss) (Details) - Other Pension Plans, Defined Benefit - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Net loss	$ 310	$ 578
Transition obligation	0	0
Prior service cost	0	12
Loss recognized in accumulated other comprehensive income (loss)	$ 310	$ 590

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Retirement Benefits - Components Of Net Periodic Post Retirement Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Amortization of transition obligation	$ 0
Amortization of prior service costs	0
Other Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	8	$ 9	$ 6
Interest cost	71	62	53
Amortization of transition obligation	0	17	17
Amortization of prior service costs	12	38	24
Amortization of unrecognized loss (gain)	54	44	(11)
Net postretirement benefit cost included in compensation and employee benefits	$ 145	$ 170	$ 89

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Retirement Benefits - Defined Benefit Plan, Assumptions Used In Accounting For The Plan (Details) - Other Pension Plans, Defined Benefit	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assumptions used to determine benefit obligation at period end:
Discount rate	3.50%	3.75%	3.50%
Rate of increase in compensation	4.00%	4.00%	4.00%
Assumptions used to determine net periodic benefit cost for the year:
Discount rate	3.75%	3.50%	4.25%
Rate of increase in compensation	4.00%	4.00%	4.00%

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Retirement Benefits - Summary Of Percentage Point Change In Assumed Health Care Cost Trends (Details) - Other Pension Plans, Defined Benefit - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Aggregate of service and interest components of net periodic cost (benefit), one percentage point increase	$ 6	$ 6	$ 4
Aggregate of service and interest components of net periodic cost (benefit), one percentage point decrease	(5)	(4)	$ (3)
Effect on accumulated postretirement benefit obligation, one percentage point increase	121	156
Effect on accumulated postretirement benefit obligation, one percentage point decrease	$ (108)	$ (139)

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Equity Incentive Plan - Narrative (Details) - USD ($) $ in Millions									1 Months Ended		12 Months Ended
	Nov. 16, 2016	May 27, 2015	Dec. 08, 2014	Jun. 11, 2014	Jul. 26, 2013	Jan. 30, 2010	May 29, 2009	Jan. 30, 2009	Nov. 30, 2016	May 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted											20,000	419,000
Stock options granted											40,000	1,090,000
Allocated stock-based compensation expense											$ 7.3	$ 6.8	$ 2.8
2008 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under equity incentive plan									4,311,796
Vesting period (years)											5 years
Beginning of vesting period (years)											1 year
Stock option expiration period (years)											10 years
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted													1,001,200
Stock options granted													2,502,600
Shares authorized under equity incentive plan										4,978,249
Expected life			6 years 6 months	6 years 6 months
Risk free return			1.81%	1.92%
Volatility			32.92%	33.83%
Dividend rate			1.68%	1.83%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future stock-based compensation expense											$ 9.8
Average period of expected future stock option expense											2 years 10 months 24 days
Restricted Stock | 2008 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted									20,000
Shares authorized under equity incentive plan											40,085
Restricted Stock | 2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted										419,000
Shares authorized under equity incentive plan										1,422,357
Shares available for issuance under equity incentive plan											56,157
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future stock-based compensation expense											$ 7.0
Average period of expected future stock option expense											2 years 10 months 24 days
Stock Options | 2008 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted									40,000
Shares authorized under equity incentive plan											111,445
Expected life	6 years 6 months				6 years 6 months	6 years 6 months	6 years 6 months	6 years 6 months
Risk free return	1.80%				1.39%	2.90%	2.88%	2.17%
Volatility	30.07%				35.33%	38.29%	38.39%	5.33%
Dividend rate	1.74%				1.98%	1.81%	1.50%	1.61%
Stock Options | 2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted										1,090,000
Shares authorized under equity incentive plan										3,555,892
Vesting period (years)										5 years			5 years
Beginning of vesting period (years)										1 year			1 year
Stock option expiration period (years)										10 years			10 years
Expected life		6 years 6 months
Risk free return		1.67%
Volatility		32.06%
Dividend rate		1.90%
Shares available for issuance under equity incentive plan											86,852

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Equity Incentive Plan - Stock Options Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding (shares) - Beginning Balance	6,011,861	5,138,072
Granted (shares)	40,000	1,090,000
Forfeited (shares)	(32,520)	(73,040)
Exercised (shares)	(690,671)	(143,171)
Outstanding (shares) - Ending Balance	5,328,670	6,011,861	5,138,072
Exercisable (shares)	2,985,272
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding (usd per share) - Beginning Balance	$ 3.30	$ 3.08
Granted (usd per share)	4.94	4.07
Forfeited (usd per share)	4.00	3.91
Exercised (usd per share)	2.52	2.33
Outstanding (usd per share) - Ending Balance	3.41	3.30	$ 3.08
Exercisable (usd per share)	2.92
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (usd per share) - Beginning Balance	10.93	10.04
Granted (usd per share)	18.44	14.76
Forfeited (usd per share)	13.78	13.13
Exercised (usd per share)	7.84	7.22
Outstanding (usd per share) - Ending Balance	11.36	$ 10.93	$ 10.04
Exercisable (usd per share)	$ 9.44
Outstanding, weighted average contractual life (years)	5 years 9 months 11 days	6 years 4 months 28 days	7 years 5 months 9 days
Granted, weighted average contractual life (years)	9 years 10 months 17 days	9 years 4 months 28 days
Exercisable, weighted average contractual life (years)	4 years 1 month 24 days

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Equity Incentive Plan - Status Of The Company's Restricted Share Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested (shares) - Beginning Balance	1,193,862	1,003,074
Granted (shares)	20,000	419,000
Vested (shares)	(277,580)	(196,492)
Forfeited (shares)	(12,280)	(31,720)
Non-vested (shares) - Ending Balance	924,002	1,193,862
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested (usd per share) - Beginning Balance	$ 13.70	$ 13.11
Granted (usd per share)	18.44	14.76
Vested (usd per share)	13.61	13.09
Forfeited (usd per share)	13.87	13.13
Non-vested (usd per share) - Ending Balance	$ 13.82	$ 13.70

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Commitments and Contingencies - Commitment And Contingent Liabilities Not Reflected In Consolidated Financial Statements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Commitments to extend credit
Commitments and contingent liabilities	$ 46,069	$ 18,400
Unused lines of credit
Commitments and contingent liabilities	78,825	69,414
Standby letters of credit
Commitments and contingent liabilities	$ 7,463	$ 471

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Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Guarantees extend term period (years)	1 year
Allowance for estimated losses on commitments	$ 475	$ 318
Net rental expense	$ 5,200	$ 4,600	$ 4,300
Agreements term (years)	3 years

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Commitments and Contingencies - The Projected Minimum Annual Rental Payments And Receipts Under The Capitalized Leases And Operating Leases (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capitalized Leases, 2017	$ 254
Capitalized Leases, 2018	262
Capitalized Leases, 2019	44
Capitalized Leases, 2020	0
Capitalized Leases, 2021	0
Capitalized Leases, Thereafter	0
Capitalized Leases, Total minimum lease payments	560
Operating Leases, 2017	4,682
Operating Leases, 2018	4,290
Operating Leases, 2019	3,957
Operating Leases, 2020	3,956
Operating Leases, 2021	3,521
Operating Leases, Thereafter	30,069
Operating Leases, Total minimum lease payments	$ 50,475

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Regulatory Requirements - Narrative (Details)	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015	Dec. 31, 2014
Regulatory Requirements [Abstract]
Common Equity Tier 1 Capital (to risk-weighted assets), for capital adequacy purposes ratio	4.50%	4.50%	4.50%
Tier 1 capital (to risk-weighted assets), for capital adequacy purposes ratio	6.00%	6.00%	6.00%	4.00%
Total capital (to risk-weighted assets), for capital adequacy purposes ratio	8.00%	8.00%
Tier 1 capital (core) (to adjusted total assets), for capital adequacy purposes ratio	4.00%	4.00%
Tier 1 capital (core) (to adjusted total assets), for well capitalized under prompt corrective action provisions ratio	5.00%	5.00%
Common Equity Tier 1 Capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	6.50%	6.50%
Tier 1 risk-based capital ratio	8.00%	8.00%
Total capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	10.00%	10.00%
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets, Higher Risk Weight			150.00%
Common Equity Tier 1 Capital (to risk-weighted assets), ratio	18.79%	22.15%	2.50%

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Regulatory Requirements - Regulatory Capital Amounts And Ratios Compared To Regulatory Requirements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2015	Dec. 31, 2014
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital (to risk-weighted assets), amount	$ 586,055	$ 546,564
Common Equity Tier 1 Capital (to risk-weighted assets), ratio	18.79%	22.15%	2.50%
Common Equity Tier 1 Capital (to risk-weighted assets), for capital adequacy purposes amount	$ 140,329	$ 111,025
Common Equity Tier 1 Capital (to risk-weighted assets), for capital adequacy purposes ratio	4.50%	4.50%	4.50%
Common Equity Tier 1 Capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions amount	$ 202,698	$ 160,369
Common Equity Tier 1 Capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	6.50%	6.50%
Tier 1 capital (core) (to adjusted total assets), amount	$ 586,055	$ 546,564
Tier 1 capital (core) (to adjusted total assets), ratio	15.40%	17.25%
Tier 1 capital (core) (to adjusted total assets), for capital adequacy purposes amount	$ 152,213	$ 126,764
Tier 1 capital (core) (to adjusted total assets), for capital adequacy purposes ratio	4.00%	4.00%
Tier 1 capital (core) (to adjusted total assets), for well capitalized under prompt corrective action provisions amount	$ 190,267	$ 158,455
Tier 1 capital (core) (to adjusted total assets), for well capitalized under prompt corrective action provisions ratio	5.00%	5.00%
Tier 1 capital (to risk-weighted assets), amount	$ 586,055	$ 546,564
Tier 1 capital (to risk-weighted assets), ratio	18.79%	22.15%
Tier 1 capital (to risk-weighted assets), for capital adequacy purposes amount	$ 187,106	$ 148,033
Tier 1 capital (to risk-weighted assets), for capital adequacy purposes ratio	6.00%	6.00%	6.00%	4.00%
Tier 1 capital (to risk-weighted assets) for well capitalized under prompt corrective action provisions amount	$ 249,474	$ 197,378
Tier 1 capital (to risk-weighted assets) for well capitalized under prompt corrective action provisions ratio	8.00%	8.00%
Total capital (to risk-weighted assets), actual	$ 611,168	$ 571,720
Total capital (to risk-weighted assets), ratio	19.60%	23.17%
Total capital (to risk-weighted assets), for capital adequacy purposes amount	$ 249,474	$ 197,378
Total capital (to risk-weighted assets), for capital adequacy purposes ratio	8.00%	8.00%
Total capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions amount	$ 380,533	$ 246,722
Total capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	10.00%	10.00%
Subsidiaries
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital (to risk-weighted assets), amount	$ 553,715	$ 498,067
Common Equity Tier 1 Capital (to risk-weighted assets), ratio	17.75%	20.19%
Common Equity Tier 1 Capital (to risk-weighted assets), for capital adequacy purposes amount	$ 140,371	$ 111,025
Common Equity Tier 1 Capital (to risk-weighted assets), for capital adequacy purposes ratio	4.50%	4.50%
Common Equity Tier 1 Capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions amount	$ 202,758	$ 160,369
Common Equity Tier 1 Capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	6.50%	6.50%
Tier 1 capital (core) (to adjusted total assets), amount	$ 553,715	$ 498,067
Tier 1 capital (core) (to adjusted total assets), ratio	14.55%	15.72%
Tier 1 capital (core) (to adjusted total assets), for capital adequacy purposes amount	$ 152,213	$ 126,744
Tier 1 capital (core) (to adjusted total assets), for capital adequacy purposes ratio	4.00%	4.00%
Tier 1 capital (core) (to adjusted total assets), for well capitalized under prompt corrective action provisions amount	$ 190,267	$ 158,429
Tier 1 capital (core) (to adjusted total assets), for well capitalized under prompt corrective action provisions ratio	5.00%	5.00%
Tier 1 capital (to risk-weighted assets), amount	$ 553,715	$ 498,067
Tier 1 capital (to risk-weighted assets), ratio	17.75%	20.19%
Tier 1 capital (to risk-weighted assets), for capital adequacy purposes amount	$ 187,161	$ 148,033
Tier 1 capital (to risk-weighted assets), for capital adequacy purposes ratio	6.00%	6.00%
Tier 1 capital (to risk-weighted assets) for well capitalized under prompt corrective action provisions amount	$ 249,548	$ 197,378
Tier 1 capital (to risk-weighted assets) for well capitalized under prompt corrective action provisions ratio	8.00%	8.00%
Total capital (to risk-weighted assets), actual	$ 578,828	$ 523,223
Total capital (to risk-weighted assets), ratio	18.56%	21.21%
Total capital (to risk-weighted assets), for capital adequacy purposes amount	$ 249,548	$ 197,378
Total capital (to risk-weighted assets), for capital adequacy purposes ratio	8.00%	8.00%
Total capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions amount	$ 311,935	$ 246,722
Total capital (to risk-weighted assets), for well capitalized under prompt corrective action provisions ratio	10.00%	10.00%

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Fair Value Measurement - Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 498,897,000	$ 541,595,000
Trading securities	7,857,000	6,713,000
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	498,897,000	541,595,000
Trading securities	7,857,000	6,713,000
Total assets measured on a recurring basis	506,754,000	548,308,000
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	271,000	481,000
Trading securities	7,857,000	6,713,000
Total assets measured on a recurring basis	8,128,000	7,194,000
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	498,626,000	541,114,000
Trading securities	0	0
Total assets measured on a recurring basis	498,626,000	541,114,000
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Trading securities	0	0
Total assets measured on a recurring basis	0	0
Recurring Basis | GSE
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	448,842,000	529,524,000
Recurring Basis | GSE | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Recurring Basis | GSE | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	448,842,000	529,524,000
Recurring Basis | GSE | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Recurring Basis | Non-GSE
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	270,000	579,000
Recurring Basis | Non-GSE | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Recurring Basis | Non-GSE | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	270,000	579,000
Recurring Basis | Non-GSE | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed securities	0	0
Recurring Basis | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	2,158,000
Recurring Basis | Municipal bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0
Recurring Basis | Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	2,158,000
Recurring Basis | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	45,159,000	11,011,000
Recurring Basis | Corporate bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0	0
Recurring Basis | Corporate bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	45,159,000	11,011,000
Recurring Basis | Corporate bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0	0
Recurring Basis | Equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	1,218,000	481,000
Recurring Basis | Equities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	271,000	481,000
Recurring Basis | Equities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	947,000	0
Recurring Basis | Equities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0	0
Recurring Basis | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	1,250,000
Recurring Basis | Other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0
Recurring Basis | Other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	1,250,000
Recurring Basis | Other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other securities	0
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	14,457,000	13,555,000
Commercial and industrial loans	21,000	25,000
Other real estate owned	850,000	45,000
Total assets measured on a non-recurring basis	15,328,000	13,625,000
Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Commercial and industrial loans	0	0
Other real estate owned	0	0
Total assets measured on a non-recurring basis	0	0
Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Commercial and industrial loans	0	0
Other real estate owned	0	0
Total assets measured on a non-recurring basis	0	0
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	14,457,000	13,555,000
Commercial and industrial loans	21,000	25,000
Other real estate owned	850,000	45,000
Total assets measured on a non-recurring basis	15,328,000	13,625,000
Nonrecurring | Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	10,730,000	9,091,000
Nonrecurring | Commercial real estate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Commercial real estate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Commercial real estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	10,730,000	9,091,000
Nonrecurring | One-to-four family residential mortgage
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,177,000	2,873,000
Nonrecurring | One-to-four family residential mortgage | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | One-to-four family residential mortgage | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | One-to-four family residential mortgage | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,177,000	2,873,000
Nonrecurring | Multifamily
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,276,000	1,288,000
Nonrecurring | Multifamily | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Multifamily | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Multifamily | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,276,000	1,288,000
Nonrecurring | Home equity and lines of credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	274,000	303,000
Nonrecurring | Home equity and lines of credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Home equity and lines of credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Nonrecurring | Home equity and lines of credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 274,000	$ 303,000

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Fair Value Measurement - Qualitative Information For Level 3 Assets Measured At Fair Value On A Non-Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Unobservable Inputs One | Impaired loans
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 14,478	$ 13,580
Valuation Methodology	Appraisals	Appraisals
Unobservable Inputs	Discount for costs to sell	Discount for costs to sell
Range of Inputs	7.00%	7.00%
Unobservable Inputs One | Other real estate owned
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 850	$ 45
Valuation Methodology	Appraisals	Appraisals
Unobservable Inputs	Discount for costs to sell	Discount for costs to sell
Range of Inputs	7.00%	7.00%
Unobservable Inputs Two | Impaired loans
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Unobservable Inputs	Discount for quick sale	Discount for quick sale
Range of Inputs	10.00%	10.00%
Unobservable Inputs Three | Impaired loans
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Valuation Methodology	Discounted cash flows	Discounted cash flows
Unobservable Inputs	Interest rates	Interest rates
Unobservable Inputs Three | Minimum | Impaired loans
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range of Inputs	4.75%	4.75%
Unobservable Inputs Three | Maximum | Impaired loans
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Range of Inputs	7.50%	7.50%

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Fair Value Measurement - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Transfers of securities between Level 1 and Level 2	$ 0
Impaired loans held-for-investment and held-for-sale with outstanding principal balances	17,700,000	$ 17,000,000
Estimated fair value of impaired loans held-for-investment and held-for-sale	14,500,000	13,600,000
Decrease in reserve for impaired loans	562,000	725,000
Net impairment charge-offs	810,000	1,900,000
Assets acquired through foreclosure, or deed in lieu of foreclosure	$ 850,000	$ 45,000

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Fair Value Measurement - Estimated Fair Values Of The Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial assets:
Trading securities	$ 7,857	$ 6,713
Securities available-for-sale	498,897	541,595
Securities held-to-maturity	10,118	10,369
Carrying Value
Financial assets:
Cash and cash equivalents	96,085	51,853
Trading securities	7,857	6,713
Securities available-for-sale	498,897	541,595
Securities held-to-maturity	10,148	10,346
FHLB of New York stock, at cost	25,123	25,803
Net loans held-for-investment	2,943,489	2,348,945
Financial liabilities:
Deposits	2,713,587	2,052,929
Repurchase agreements and other borrowings	473,206	558,129
Advance payments by borrowers	12,331	10,862
Estimated Fair Value
Financial assets:
Cash and cash equivalents	96,085	51,853
Trading securities	7,857	6,713
Securities available-for-sale	498,897	541,595
Securities held-to-maturity	10,118	10,369
FHLB of New York stock, at cost	25,123	25,803
Net loans held-for-investment	2,970,438	2,375,028
Financial liabilities:
Deposits	2,720,176	2,058,894
Repurchase agreements and other borrowings	472,387	557,537
Advance payments by borrowers	12,331	10,862
Estimated Fair Value | Level 1
Financial assets:
Cash and cash equivalents	96,085	51,853
Trading securities	7,857	6,713
Securities available-for-sale	271	481
Securities held-to-maturity	0	0
FHLB of New York stock, at cost	0	0
Net loans held-for-investment	0	0
Financial liabilities:
Deposits	0	0
Repurchase agreements and other borrowings	0	0
Advance payments by borrowers	0	0
Estimated Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Trading securities	0	0
Securities available-for-sale	498,626	541,114
Securities held-to-maturity	10,118	10,369
FHLB of New York stock, at cost	25,123	25,803
Net loans held-for-investment	0	0
Financial liabilities:
Deposits	2,720,176	2,058,894
Repurchase agreements and other borrowings	472,387	557,537
Advance payments by borrowers	12,331	10,862
Estimated Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Trading securities	0	0
Securities available-for-sale	0	0
Securities held-to-maturity	0	0
FHLB of New York stock, at cost	0	0
Net loans held-for-investment	2,970,438	2,375,028
Financial liabilities:
Deposits	0	0
Repurchase agreements and other borrowings	0	0
Advance payments by borrowers	$ 0	$ 0

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Stock Repurchase Program (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	May 27, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Stock repurchase program, remaining number of shares to be purchased	0	0
Stock repurchased program, authorized amount			$ 15,000,000.0	$ 170,000,000.0

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Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 26,130	$ 19,531	$ 20,266
Basic weighted average shares outstanding (in shares)	44,374,389	42,285,712	49,006,129
Effect of non-vested restricted stock and stock options outstanding (in shares)	1,343,498	1,192,769	1,026,130
Weighted average shares outstanding-diluted (in shares)	45,717,887	43,478,481	50,032,259
Earnings per share-basic (usd per share)	$ 0.59	$ 0.46	$ 0.41
Earnings per share-diluted (usd per share)	$ 0.57	$ 0.45	$ 0.41
Anti-dilutive shares	777,733	2,679,507	1,471,303

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Parent-only Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS:
Interest-earning deposits in other financial institutions	$ 77,673	$ 36,529
Other assets	44,563	36,437
Total assets	3,850,094	3,202,584
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Total liabilities	3,228,898	2,642,805
Total stockholders' equity	621,196	559,779	$ 593,928	$ 716,108
Total liabilities and stockholders' equity	3,850,094	3,202,584
Parent Company
ASSETS:
Cash in Northfield Bank	8,953	22,504
Interest-earning deposits in other financial institutions	21	21
Investment in Northfield Bank	588,856	511,283
ESOP loan receivable	25,043	26,012
Other assets	118	516
Total assets	622,991	560,336
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Total liabilities	1,795	557
Total stockholders' equity	621,196	559,779
Total liabilities and stockholders' equity	$ 622,991	$ 560,336

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Parent-only Financial Information - Condensed Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income tax expense									$ 13,665	$ 11,975	$ 11,856
Net income									26,130	19,531	20,266
Other comprehensive (loss) income, net of tax									(1,346)	(2,221)	3,885
Comprehensive income									24,784	17,310	24,151
Parent Company
Interest on ESOP loan									913	875	903
Interest income on deposit in Northfield Bank									31	51	251
Gain (loss) on securities transactions, net									4	(4)	(2)
Undistributed earnings of Northfield Bank									26,303	19,718	20,331
Total income									27,251	20,640	21,483
Other expenses									936	891	956
Income tax expense	$ 4,273	$ 3,782	$ 3,681	$ 1,929	$ 3,464	$ 2,515	$ 3,410	$ 2,586	185	218	261
Total expense									1,121	1,109	1,217
Net income	$ 8,198	$ 7,287	$ 6,985	$ 3,660	$ 5,557	$ 4,677	$ 4,295	$ 5,002	26,130	19,531	20,266
Other comprehensive (loss) income, net of tax									(1,346)	(2,221)	3,885
Comprehensive income									$ 24,784	$ 17,310	$ 24,151

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Parent-only Financial Information - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income									$ 26,130	$ 19,531	$ 20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in other assets									3,052	3,359	(2,948)
Cash flows from financing activities:
Exercise of stock options									120	158	212
Additional tax benefit on stock awards									1,512	122	390
Net decrease in cash and cash equivalents									44,232	(24,856)	15,470
Cash and cash equivalents at beginning of period				$ 51,853				$ 76,709	51,853	76,709	61,239
Cash and cash equivalents at end of period	$ 96,085				$ 51,853				96,085	51,853	76,709
Parent Company
Cash flows from operating activities:
Net income	8,198	$ 7,287	$ 6,985	3,660	5,557	$ 4,677	$ 4,295	5,002	26,130	19,531	20,266
Adjustments to reconcile net income to net cash provided by operating activities:
Decrease (increase) in other assets									(1,998)	(453)	(969)
Increase (decrease) in other liabilities									1,238	377	(362)
Undistributed earnings of Northfield Bank									(26,303)	(19,718)	(20,329)
Net cash used in operating activities									(933)	(263)	(1,394)
Cash flows from investing activities:
Cash consideration paid for business acquisition									(13,644)	0	0
Dividends from Northfield Bank									14,700	25,900	66,274
Net cash provided by investing activities									1,056	25,900	66,274
Cash flows from financing activities:
Principal payments on ESOP loan receivable									969	922	865
Purchase of treasury stock									(2,201)	(48,446)	(138,702)
Dividends paid									(14,074)	(12,184)	(12,884)
Exercise of stock options									120	158	212
Additional tax benefit on stock awards									1,512	122	390
Net cash used in financing activities									(13,674)	(59,428)	(150,119)
Net decrease in cash and cash equivalents									(13,551)	(33,791)	(85,239)
Cash and cash equivalents at beginning of period				$ 22,525				$ 56,316	22,525	56,316	141,555
Cash and cash equivalents at end of period	$ 8,974				$ 22,525				$ 8,974	$ 22,525	$ 56,316

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Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest income									$ 124,972	$ 101,758	$ 91,701
Interest expense									21,668	19,688	15,352
Net interest income									103,304	82,070	76,349
Provision for loan losses									635	353	645
Net interest income after provision for loan losses									102,669	81,717	75,704
Other income									10,072	7,898	8,460
Other expenses									72,946	58,109	52,042
Income before income tax expense									39,795	31,506	32,122
Income tax expense									13,665	11,975	11,856
Net income									$ 26,130	$ 19,531	$ 20,266
Net income per common share-basic (usd per share)									$ 0.59	$ 0.46	$ 0.41
Net income per common share-diluted (usd per share)									$ 0.57	$ 0.45	$ 0.41
Parent Company
Interest income	$ 32,110	$ 31,525	$ 31,168	$ 30,169	$ 26,398	$ 25,570	$ 25,037	$ 24,753
Interest expense	5,426	5,274	5,527	5,441	5,170	4,997	4,752	4,769
Net interest income	26,684	26,251	25,641	24,728	21,228	20,573	20,285	19,984
Provision for loan losses	280	472	14	(131)	(119)	200	72	200
Net interest income after provision for loan losses	26,404	25,779	25,627	24,859	21,347	20,373	20,213	19,784
Other income	2,643	2,667	2,533	2,229	2,122	1,666	2,006	2,104
Other expenses	16,576	17,377	17,494	21,499	14,448	14,847	14,514	14,300
Income before income tax expense	12,471	11,069	10,666	5,589	9,021	7,192	7,705	7,588
Income tax expense	4,273	3,782	3,681	1,929	3,464	2,515	3,410	2,586	$ 185	$ 218	$ 261
Net income	$ 8,198	$ 7,287	$ 6,985	$ 3,660	$ 5,557	$ 4,677	$ 4,295	$ 5,002	$ 26,130	$ 19,531	$ 20,266
Net income per common share-basic (usd per share)	$ 0.18	$ 0.16	$ 0.16	$ 0.08	$ 0.13	$ 0.11	$ 0.10	$ 0.11
Net income per common share-diluted (usd per share)	$ 0.18	$ 0.16	$ 0.15	$ 0.08	$ 0.13	$ 0.11	$ 0.10	$ 0.11