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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amounts of All Derivative Instruments [Table Text Block] |
The following table summarizes the notional amounts of all derivative instruments as of the indicated dates:
|  |  | Notional Amounts (1)
|  |  | As of |  | As of
|  |  | September 30, |  | December 31,
|  |  | 2021 |  | 2020
(In thousands) |
Undesignated economic hedges: |  |  |  |  |
Interest rate contracts: |  |  |  |  |
| Interest rate swap agreements | $ | 13,409 |  | $ | 15,864
| Written interest rate cap agreements |  | 14,500 |  |  | 14,500
| Purchased interest rate cap agreements |  | 14,500 |  |  | 14,500
| Interest rate lock commitments |  | 14,390 |  |  | 19,931
Forward Contracts: |  |  |  |  |
| Sale of TBA GNMA MBS pools |  | 30,000 |  |  | 42,000
| Forward loan sales commitments |  | 9,409 |  |  | 19,998
| $ | 96,208 |  | $ | 126,793
(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 as of the indicated dates:
|  | Asset Derivatives |  | Liability Derivatives
|  | Statement of |  | September 30, |  | December 31, |  |  |  | September 30, |  | December 31,
|  | Financial |  | 2021 |  | 2020 |  |  |  | 2021 |  | 2020
|  | Condition Location |  | Fair Value |  | Fair Value |  | Statement of Financial Condition Location |  | Fair Value |  | Fair Value
(In thousands) |
Undesignated economic hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swap agreements | Other assets |  | $ | 1,218 |  | $ | 1,622 |  | Accounts payable and other liabilities |  | $ | 1,213 |  | $ | 1,639
| Written interest rate cap agreements | Other assets |  |  | - |  |  | - |  | Accounts payable and other liabilities |  |  | 3 |  |  | 1
| Purchased interest rate cap agreements | Other assets |  |  | 3 |  |  | 1 |  | Accounts payable and other liabilities |  |  | - |  |  | -
| Interest rate lock commitments | Other assets |  |  | 485 |  |  | 737 |  | Accounts payable and other liabilities |  |  | - |  |  | -
Forward Contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Sales of TBA GNMA MBS pools | Other assets |  |  | 44 |  |  | 102 |  | Accounts payable and other liabilities |  |  | 11 |  |  | 280
| Forward loan sales commitments | Other assets |  |  | 20 |  |  | 20 |  | Accounts payable and other liabilities |  |  | - |  |  | -
|  |  |  | $ | 1,770 |  | $ | 2,482 |  |  |  | $ | 1,227 |  | $ | 1,920
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 for the indicated periods:
|  |  |  | Gain or (Loss) |  | Gain or (Loss)
|  | Location of Unrealized Gain (Loss) |  | Quarter Ended |  | Nine-Month Period Ended
|  | on Derivative Recognized in |  | September 30, |  | September 30,
|  | Statement of Income |  | 2021 |  | 2020 |  | 2021 |  | 2020
(In thousands) |  |  |
UNDESIGNATED ECONOMIC HEDGES: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swap agreements | Interest income - Loans |  | $ | 4 |  | $ | 18 |  | $ | 22 |  | $ | 18
| Interest rate lock commitments | Mortgage Banking Activities |  |  | (24) |  |  | 254 |  |  | (488) |  |  | 910
Forward contracts: |  |  |  |  |  |  |  |  |  |  |  |  |
| Sales of TBA GNMA MBS pools | Mortgage Banking Activities |  |  | 143 |  |  | 454 |  |  | 225 |  |  | 458
| Total gain (loss) on derivatives |  |  | $ | 123 |  | $ | 726 |  | $ | (241) |  | $ | 1,386

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