Note 7 - Deposits

12 Months Ended

Dec. 31, 2011

Deposit Liabilities Disclosures [Text Block]

7. Deposits

Total deposits at December 31, 2011 and 2010, and the weighted average rate on deposits at December 31, 2011, are as follows:

	2011		2010		Weighted Average Rate 2011
	(Dollars in thousands)
Interest-bearing deposits:
Certificate of deposit accounts	$	1,529,110	$	1,520,572		2.31	%
Savings accounts		349,630		388,512		0.32
Money market accounts		200,183		371,998		0.33
NOW accounts		919,029		786,015		0.67
Total interest-bearing deposits		2,997,952		3,067,097
Non-interest bearing demand deposits		118,507		96,198
Total due to depositors		3,116,459		3,163,295
Mortgagors' escrow deposits		29,786		27,315		0.21
Total deposits	$	3,146,245	$	3,190,610

The aggregate amount of time deposits with denominations of $100,000 or more (excluding brokered deposits) was $565.7 million and $474.9 million at December 31, 2011 and 2010, respectively. The aggregate amount of brokered deposits was $444.8 million and $513.6 million at December 31, 2011 and 2010, respectively.

All of FCB deposits are collateralized by securities or letters of credit issued by FHLB-NY. The letters of credit are collateralized by mortgage loans pledged by the Savings Bank on behalf of FCB, thorough an agreement among the Savings Bank, FCB and the FHLB-NY.

At December 31, 2011, there were $358.0 million in securities and $392.3 million of letters of credit pledged as collateral for $591.0 million in deposits at FCB. At December 31, 2010, there were $397.7 million in securities and $254.6 million of letters of credit pledged as collateral for $570.5 million in deposits at FCB.

Interest expense on deposits is summarized as follows for the years ended December 31:

	2011		2010		2009
	(In thousands)
Certificate of deposit accounts	$	38,372	$	39,044	$	49,987
Savings accounts		2,091		3,334		5,529
Money market accounts		1,309		3,713		5,290
NOW accounts		6,610		7,511		5,906
Total due to depositors		48,382		53,602		66,712
Mortgagors' escrow deposits		49		53		66
Total interest expense on deposits	$	48,431	$	53,655	$	66,778

Scheduled remaining maturities of certificate of deposit accounts are summarized as follows for the years ended December 31:

	2011		2010
	(In thousands)
Within 12 months	$	662,610	$	362,392
More than 12 months to 24 months		249,324		466,352
More than 24 months to 36 months		262,904		207,840
More than 36 months to 48 months		219,864		241,982
More than 48 months to 60 months		91,678		199,651
More than 60 months		42,730		42,355
Total certificate of deposit accounts	$	1,529,110	$	1,520,572