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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 12 Months Ended
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Dec. 31, 2022
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract] |
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 notional amounts, fair values and location in the consolidated statements of financial condition as of the indicated dates: Asset Derivatives Liability Derivatives Notional Amounts (1) Statements of Financial Condition Location Fair Value Statements of Financial Condition Location Fair Value December 31, December 31, December 31, 2022 2021 2022 2021 2022 2021 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 9,290 $ 12,588 Other assets $ 313 $ 1,098 Accounts payable and other liabilities $ 278 $ 1,092 Written interest rate cap agreements 14,500 14,500 Other assets - - Accounts payable and other liabilities 197 8 Purchased interest rate cap agreements 14,500 14,500 Other assets 199 8 Accounts payable and other liabilities - - Interest rate lock commitments 3,225 12,097 Other assets 63 379 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools 11,000 27,000 Other assets 58 - Accounts payable and other liabilities 1 78 Forward loan sales commitments - 12,668 Other assets - 20 Accounts payable and other liabilities - - $ 52,515 $ 93,353 $ 633 $ 1,505 $ 476 $ 1,178 (1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions.
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) Location of Gain (Loss) Year ended on Derivative Recognized in December 31, Statements of Income 2022 2021 2020 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Interest income - loans $ 28 $ 24 $ 27 Written and purchased interest rate cap agreements Interest income - loans 2 - - Interest rate lock commitments Mortgage banking activities (322) (687) 576 Forward contracts: Sales of TBA GNMA MBS pools Mortgage banking activities 135 114 (54) Forward loan sales commitments Mortgage banking activities (20) - (37) Total (loss) gain on derivatives $ (177) $ (549) $ 512

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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