Note 8 - Deposits

12 Months Ended

Dec. 31, 2015

Disclosure Text Block [Abstract]

Deposit Liabilities Disclosures [Text Block]

8. Deposits

Total deposits at December 31, 2015 and 2014, and the weighted average rate on deposits at December 31, 2015, are as follows:

	2015		2014		Weighted Average Rate 2015
	(Dollars in thousands)
Interest-bearing deposits:
Certificate of deposit accounts	$	1,403,302	$	1,305,823		1.41	%
Savings accounts		261,748		261,942		0.45
Money market accounts		472,489		290,263		0.46
NOW accounts		1,448,695		1,359,057		0.49
Total interest-bearing deposits		3,586,234		3,217,085
Non-interest bearing demand deposits		269,469		255,834
Total due to depositors		3,855,703		3,472,919
Mortgagors' escrow deposits		36,844		35,679		0.17
Total deposits	$	3,892,547	$	3,508,598

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 $169.2 million and $109.6 million at December 31, 2015 and 2014, respectively. The aggregate amount of brokered deposits was $982.8 million and $763.9 million at December 31, 2015 and 2014, respectively.

Deposits obtained by the government banking 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, 2015, government banking division deposits totaled $975.9 million, of which $210.7 million were ICS deposits and $765.2 million were collateralized by $364.7 million in securities and $494.0 million of letters of credit. At December 31, 2014, government banking division 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.

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

	2015		2014		2013
	(In thousands)
Certificate of deposit accounts	$	20,943	$	22,420	$	24,414
Savings accounts		1,151		597		515
Money market accounts		1,551		667		294
NOW accounts		6,593		6,227		6,777
Total due to depositors		30,238		29,911		32,000
Mortgagors' escrow deposits		98		133		37
Total interest expense on deposits	$	30,336	$	30,044	$	32,037

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

	2015		2014
	(In thousands)
Within 12 months	$	448,229	$	455,295
More than 12 months to 24 months		478,361		269,840
More than 24 months to 36 months		247,349		229,931
More than 36 months to 48 months		167,529		176,876
More than 48 months to 60 months		35,558		148,424
More than 60 months		26,276		25,457
Total certificate of deposit accounts	$	1,403,302	$	1,305,823