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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2024 2023 2024 2023 2024 2023 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements $ 8,623 $ 8,969 Other assets $ 164 $ 283 Accounts payable and other liabilities $ 136 $ 255 Interest rate lock commitments 4,413 2,252 Other assets 27 58 Accounts payable and other liabilities - - Forward Contracts: Sales of TBA GNMA MBS pools 21,000 7,000 Other assets 127 - Accounts payable and other liabilities 14 62 $ 34,036 $ 18,221 $ 318 $ 341 $ 150 $ 317 (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: (Loss) Gain Location of (Loss) Gain Year Ended on Derivatives Recognized in December 31, Statements of Income 2024 2023 2022 (In thousands) Undesignated economic hedges: Interest rate contracts: Interest rate swap agreements Interest income - loans $ - $ (7) $ 28 Written and purchased interest rate cap agreements Interest income - loans - (1) 2 Interest rate lock commitments Mortgage banking activities (21) (74) (322) Forward contracts: Sales of TBA GNMA MBS pools Mortgage banking activities 175 (119) 135 Forward loan sales commitments Mortgage banking activities - - (20) Total gain (loss) on derivatives $ 154 $ (201) $ (177)

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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