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Note 8 - Deposits

12 Months Ended

Dec. 31, 2014

Deposit Liabilities Disclosures [Text Block]

8. Deposits

Total deposits at December 31, 2014 and 2013, and the weighted average rate on deposits at December 31, 2014, are as follows:

	2014		2013		Weighted Average Rate 2014
	(Dollars in thousands)
Interest-bearing deposits:
Certificate of deposit accounts	$	1,305,823	$	1,120,955		1.65	%
Savings accounts		261,942		265,003		0.38
Money market accounts		290,263		199,907		0.32
NOW accounts		1,359,057		1,416,774		0.45
Total interest-bearing deposits		3,217,085		3,002,639
Non-interest bearing demand deposits		255,834		197,343
Total due to depositors		3,472,919		3,199,982
Mortgagors' escrow deposits		35,679		32,798		0.09
Total deposits	$	3,508,598	$	3,232,780

The aggregate amount of time deposits with denominations of $250,000 or more (excluding brokered deposits issued in $1,000.00 amounts under a master certificate of deposit) was $109.6 million and $75.6 million at December 31, 2014 and 2013, respectively. The aggregate amount of brokered deposits was $763.9 million and $517.4 million at December 31, 2014 and 2013, respectively.

Deposits obtained from the governmental division are collateralized by either securities or letters of credit issued by FHLB-NY or are placed in an Insured Cash Sweep service (“ICS”). The letters of credit are collateralized by mortgage loans pledged by the Bank.

At December 31, 2014, government deposits totaled $891.9 million, of which $94.0 million were ICS deposits and $797.9 million were collateralized by $379.3 million in securities and $499.1 million of letters of credit. At December 31, 2013, there were $407.4 million in securities and $517.8 million of letters of credit pledged as collateral for $867.1 million in government deposits.

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

	2014		2013		2012
	(In thousands)
Certificate of deposit accounts	$	22,420	$	24,414	$	32,983
Savings accounts		597		515		689
Money market accounts		667		294		399
NOW accounts		6,227		6,777		6,275
Total due to depositors		29,911		32,000		40,346
Mortgagors' escrow deposits		133		37		36
Total interest expense on deposits	$	30,044	$	32,037	$	40,382

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

	2014		2013
	(In thousands)
Within 12 months	$	455,295	$	459,016
More than 12 months to 24 months		269,840		318,215
More than 24 months to 36 months		229,931		158,050
More than 36 months to 48 months		176,876		51,508
More than 48 months to 60 months		148,424		108,489
More than 60 months		25,457		25,677
Total certificate of deposit accounts	$	1,305,823	$	1,120,955

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

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