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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2017

Notional Amounts of All Derivative Instruments [Table Text Block]

The following table summarizes the notional amounts of all derivative instruments:

	Notional Amounts ⁽¹⁾
	As of December 31,
	2017				2016
(In thousands)

Undesignated economic hedges:

Interest rate contracts:
Written interest rate cap agreements	$	91,010			$	91,510
Purchased interest rate cap agreements		91,010				91,510
Forward Contracts:
Sale of TBA GNMA MBS pools		26,000				33,000
	$	208,020			$	216,020

(1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions.

Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition [Table Text Block]

The following table summarizes for derivative instruments their fair values and location in the consolidated statements of financial condition:

	Asset Derivatives								Liability Derivatives
	Consolidated Statement of		December 31,			December 31,					December 31,			December 31,
	Financial Condition		2017			2016			Consolidated Statement of		2017			2016
	Location		Fair Value			Fair Value			Financial Condition Location		Fair Value			Fair Value
(In thousands)

Undesignated economic hedges:

Interest rate contracts:
Written interest rate cap agreements	Other assets		$	-		$	-		Accounts payable and other liabilities		$	305		$	552
Purchased interest rate cap agreements	Other assets			305			554		Accounts payable and other liabilities			-			-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets			7			-		Accounts payable and other liabilities			19			201
			$	312		$	554				$	324		$	753

Effect of Derivative Instruments on Statement of Income (Loss) [Table Text Block]

The following table summarizes the effect of derivative instruments on the consolidated statements of income:

				Gain (or Loss)
	Location of Gain (loss)			Year ended
	Recognized in Consolidated			December 31,
	Statement of Income on Derivatives			2017			2016			2015
				(In thousands)

Undesignated economic hedges:
Interest rate contracts:
Interest rate swap agreements	Interest income - Loans			$	-		$	-		$	-
Written and purchased interest rate cap agreements	Interest income - Loans				(2)			-			139
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities				189			(78)			25
Total gain (loss) on derivatives				$	187		$	(78)		$	164