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DERIVATIVES AND HEDGING (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Designated in Hedge Relationships
As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives designated in hedge relationships were as follows (in thousands):
Asset DerivativesLiability Derivatives
March 31, 2021December 31, 2020March 31, 2021December 31, 2020
Notional/
Contract Amount
Fair
   Value (1)
Notional/
Contract Amount
Fair
   Value (1)
Notional/
Contract Amount
Fair
   Value (2)
Notional/
Contract Amount
Fair
   Value (2)
Interest rate swaps$248 $5 $338 $9 $248 $5 $338 $9 

(1)    Included in Loans receivable on the Consolidated Statements of Financial Condition.
(2)    Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition.
Schedule of Derivatives Not Designated in Hedge Relationships
As of March 31, 2021 and December 31, 2020, the notional values or contractual amounts and fair values of the Company’s derivatives not designated in hedge relationships were as follows (in thousands):
Asset DerivativesLiability Derivatives
March 31, 2021December 31, 2020March 31, 2021December 31, 2020
Notional/
Contract Amount
Fair
   Value (1)
Notional/
Contract Amount
Fair
   Value (1)
Notional/
Contract Amount
Fair
   Value (2)
Notional/
Contract Amount
Fair
   Value (2)
Interest rate swaps$458,118 $25,241 $451,760 $39,057 $458,118 $17,918 $451,760 $22,327 
Mortgage loan commitments
139,668 2,937 140,390 5,221 62,267 85 72,511 199 
Forward sales contracts
282,463 3,249 79,414 420 — — 204,000 1,556 
$880,249 $31,427 $671,564 $44,698 $520,385 $18,003 $728,271 $24,082 

(1)Included in Other assets on the Consolidated Statements of Financial Condition, with the exception of certain interest swaps and mortgage loan commitments (with a fair value of $246,000 at March 31, 2021 and $231,000 at December 31, 2020), which are included in Loans receivable.
(2)Included in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition.

Gains (losses) recognized in income on derivatives not designated in hedge relationships for the three months ended March 31, 2021 and 2020 were as follows (in thousands):
Location on Consolidated
Statements of Operations		Three Months Ended
March 31,
20212020
Mortgage loan commitmentsMortgage banking operations$(2,284)$1,726 
Forward sales contractsMortgage banking operations3,011 (3,068)
$727 $(1,342)
Offsetting Assets and Liabilities as of March 31, 2021 and December 31, 2020 (in thousands):
March 31, 2021
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
Gross Amounts RecognizedAmounts offset
in the Statement
of Financial Condition		Net Amounts
in the Statement
of Financial Condition		Netting Adjustment Per Applicable Master Netting AgreementsFair Value
of Financial Collateral
in the Statement
of Financial Condition		Net Amount
Derivative assets
Interest rate swaps$25,246 $— $25,246 $— $— $25,246 
$25,246 $— $25,246 $— $— $25,246 
Derivative liabilities
Interest rate swaps$23,877 $(5,954)$17,923 $— $(12,881)$5,042 
$23,877 $(5,954)$17,923 $— $(12,881)$5,042 
December 31, 2020
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
Gross Amounts RecognizedAmounts offset
in the Statement
of Financial Condition		Net Amounts
in the Statement
of Financial Condition		Netting Adjustment Per Applicable Master Netting AgreementsFair Value
of Financial Collateral
in the Statement
of Financial Condition		Net Amount
Derivative assets
Interest rate swaps$39,066 $— $39,066 $— $— $39,066 
$39,066 $— $39,066 $— $— $39,066 
Derivative liabilities
Interest rate swaps$39,204 $(16,868)$22,336 $— $(22,220)$116 
$39,204 $(16,868)$22,336 $— $(22,220)$116