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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest and dividend income    
Interest and fees on loans $ 42,120 $ 42,940
Interest and dividends on securities:    
Interest 6,875 6,954
Dividends 189 175
Other interest income 27 17
Total interest and dividend income 49,211 50,086
Interest expense    
Deposits 7,718 8,291
Other interest expense 5,006 7,649
Total interest expense 12,724 15,940
Net interest income 36,487 34,146
Provision (benefit) for loan losses (1,119) 6,000
Net interest income after provision for loan losses 37,606 28,146
Non-interest income    
Banking services fee income 709 1,040
Net loss on sale of loans   (9)
Net gain on sale of securities   2,858
Net loss from fair value adjustments (644) (123)
Federal Home Loan Bank of New York stock dividends 551 414
Bank owned life insurance 776 825
Other income 318 343
Total non-interest income 1,710 5,348
Non-interest expense    
Salaries and employee benefits 12,578 12,233
Occupancy and equipment 2,035 1,860
Professional services 1,210 1,618
FDIC deposit insurance 697 991
Data processing 1,068 1,043
Depreciation and amortization 715 767
Other real estate owned/foreclosure expense 256 668
Other operating expenses 3,534 3,239
Total non-interest expense 22,093 22,419
Income before income taxes 17,223 11,075
Provision for income taxes    
Federal 4,758 3,461
State and local 2,169 858
Total taxes 6,927 4,319
Net income $ 10,296 $ 6,756
Basic earnings per common share (in Dollars per share) $ 0.34 $ 0.22
Diluted earnings per common share (in Dollars per share) $ 0.34 [1] $ 0.22 [1]
Dividends per common share (in Dollars per share) $ 0.15 $ 0.13
[1] For the three months ended March 31, 2014, there were no options that were anti-dilutive. For the three months ended March 31, 2013, options topurchase 542,400 shares at an average exercise price of $17.66 were not included in the computation of diluted earnings per common share as theywere anti-dilutive.