Note 15 - Concentration of Credit Risk

12 Months Ended

Dec. 31, 2011

Concentration Risk Disclosure [Text Block]

15. Concentration of Credit Risk

The Company’s lending is concentrated in the metropolitan New York City metropolitan area. The Company evaluates each customer’s creditworthiness on a case-by-case basis under the Company’s established underwriting policies. The collateral obtained by the Company generally consists of first liens on one-to-four family residential, multi-family residential, and commercial real estate. At December 31, 2011, the largest amount the Savings Bank could lend to one borrower was approximately $61.6 million, and at that date, the Savings Bank’s largest aggregate amount of loans to one borrower was $41.3 million, all of which were performing according to their terms.