LOANS RECEIVABLE AND CREDIT QUALITY (Tables)

9 Months Ended

Sep. 30, 2012

LOANS RECEIVABLE AND CREDIT QUALITY [Abstract]

Financing Receivable Credit Quality Indicators [Table Text Block]

The following is a summary of the credit risk profile of real estate loans (including deferred costs) by internally assigned grade as of the dates indicated:

	Balance at September 30, 2012
Grade	One- to Four-Family Residential and Cooperative Unit		Multifamily Residential and Residential Mixed Use		Mixed Use Commercial Real Estate		Commercial Real Estate		Construction		Total
Pass	$	61,658	$	2,482,610	$	333,488	$	365,405	$	-	$	3,243,161
Special Mention		461		9,821		5,494		-		-		15,776
Substandard		9,086		2,208		4,964		30,158		528		46,944
Total real estate loans individually assigned a credit grade	$	71,205	$	2,494,639	$	343,946	$	395,563	$	528	$	3,305,881
Real estate loans not individually assigned a credit grade⁽¹⁾	$	17,620		-		-		-		-	$	17,620

⁽¹⁾ Amount comprised of fully performing one- to four-family residential and cooperative unit loans with balances equal to or less than the FNMA Limits. The credit quality of these loans was instead evaluated based upon payment activity.

	Balance at December 31, 2011
Grade	One- to Four-Family Residential and Cooperative Unit		Multifamily Residential and Residential Mixed Use		Mixed Use Commercial Real Estate		Commercial Real Estate		Construction		Total
Pass	$	66,949	$	2,587,573	$	320,556	$	364,462	$	-	$	3,339,540
Special Mention		1,133		7,101		10,562		9,244		2,576		30,616
Substandard		2,635		8,245		7,152		39,610		623		58,265
Total real estate loans individually assigned a credit grade	$	70,717	$	2,602,919	$	338,270	$	413,316	$	3,199	$	3,428,421
Real estate loans not individually assigned a credit grade⁽¹⁾	$	29,995		-		-		-		-	$	29,995

For consumer loans, the Company evaluates credit quality based on payment activity. Consumer loans that are 90 days or more past due are placed on non-accrual status, while all remaining consumer loans are classified and evaluated as performing.

The following is a summary of the credit risk profile of consumer loans by internally assigned grade:

Grade	Balance at September 30, 2012		Balance at December 31, 2011
Pass (performing)	$	2,486	$	2,445
Substandard (non-accrual)		6		4
Total	$	2,492	$	2,449

Past Due Financing Receivables [Table Text Block]

The following is a breakdown of the past due status of the Company's investment in loans (excluding accrued interest and loans held for sale) as of the dates indicated:

At September 30, 2012
	30 to 59 Days Past Due	60 to 89 Days Past Due	Loans 90 Days or More Past Due and Still Accruing Interest	Non-accrual ⁽¹⁾	Total Past Due	Current	Total Loans
Real Estate:
One- to four-family residential and cooperative unit	$417	$-	$-	$1,150	$1,567	$87,258	$88,825
Multifamily residential and residential mixed use	2,494	4	-	1,008	3,506	2,491,133	2,494,639
Mixed use commercial real estate	1,172	-	-	721	1,893	342,053	343,946
Commercial real estate	-	-	-	7,805	7,805	387,758	395,563
Construction	-	-	-	-	-	528	528
Total real estate	$4,083	$4	$-	$10,684	$14,771	3,308,730	$3,323,501
Consumer	$4	$-	$-	$6	$10	$2,482	$2,492

⁽¹⁾Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of September 30, 2012.

At December 31, 2011
	30 to 59 Days Past Due	60 to 89 Days Past Due	Loans 90 Days or More Past Due and Still Accruing Interest	Non-accrual ⁽¹⁾	Total Past Due	Current	Total Loans
Real Estate:
One- to four-family residential and cooperative unit	$1,221	$-	$-	$2,205	$3,426	$97,286	$100,712
Multifamily residential and residential mixed use	2,589	-	946	7,069	10,604	2,592,315	2,602,919
Mixed use commercial real estate	4,976	-	-	5,591	10,567	327,703	338,270
Commercial real estate	478	-	2,874	11,083	14,435	398,881	413,316
Construction	-	-	-	-	-	3,199	3,199
Total real estate	$9,264	$-	$3,820	$25,948	$39,032	$3,419,384	$3,458,416
Consumer	$12	$5	$-	$4	$21	$2,428	$2,449

⁽¹⁾Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of December 31, 2011.

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

Troubled Debt Restructured Loans ("TDRs").

At September 30, 2012, the Bank had twenty-two loans totaling $51,241 with terms that were modified in a manner that met the criteria for a TDR. Thirteen of these TDRs totaling $47,587 were commercial real estate loans, five loans totaling $1,968 were multifamily residential and residential mixed-use real estate loans, three loans totaling $951 were mixed use loans with four units or less and the remaining $735 loan was a mixed-use commercial real estate loan. At December 31, 2011, the Bank had twenty-two loans totaling $48,753 with terms that were modified in a manner that met the criteria for a TDR. Twelve of these TDRs totaling $44,458 were commercial real estate loans, three loans totaling $1,657 were mixed-use commercial real estate loans, five loans totaling $2,013 were multifamily residential and residential mixed-use real estate loans and the remaining two loans totaling $625 were mixed use loans with

The following table summarizes outstanding TDRs as of the dates indicated:

	As of September 30, 2012		As of December 31, 2011
	No. of Loans	Balance	No. of Loans	Balance
Outstanding principal balance at period end	22	$51,241	22	$48,753
TDRs on accrual status at period end	18	43,106	17	40,688
TDRs on non-accrual status at period end	4	8,135	5	8,065

See "Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations – Asset Quality – TDRs" for a discussion of when a TDR is deemed accrual vs. non-accrual.

The Company has not restructured troubled consumer loans, as its consumer loan portfolio has not had any problem issues warranting restructuring. Therefore, all TDRs were collateralized by real estate at both September 30, 2012 and December 31, 2011.

The following tables summarize activity related to TDRs for the periods indicated:

	For the Three Months Ended September 30, 2012			For the Three Months Ended September 30, 2011
	Number of Loans	Pre-Modification Outstanding Recorded Investment	Post-Modification Outstanding Recorded Investment	Number of Loans	Pre-Modification Outstanding Recorded Investment	Post-Modification Outstanding Recorded Investment
Loan modifications during the period that met the definition of a TDR:
One- to four-family residential and cooperative unit	1	$330	$330	1	$212	$212
Multifamily residential and residential mixed use	-	-	-	1	361	361
Commercial real estate	-	-	-	5	20,523	20,523
TOTAL	1	$330	$330	7	$21,096	$21,096

	For the Nine Months Ended September 30, 2012			For the Nine Months Ended September 30, 2011
	Number of Loans	Pre-Modification Outstanding Recorded Investment	Post-Modification Outstanding Recorded Investment	Number of Loans	Pre-Modification Outstanding Recorded Investment	Post-Modification Outstanding Recorded Investment
Loan modifications during the period that met the definition of a TDR:
One- to four-family residential and cooperative unit	1	$330	$330
Multifamily residential and residential mixed use	1	459	459	2	$573	$573
Commercial real estate	2	4,430	4,430	5	20,543	20,543
TOTAL	4	$5,219	$5,219	7	$21,096	$21,096

The Bank's allowance for loan losses at September 30, 2012 reflected $551 of allocated reserve associated with modifications identified as TDRs. The Bank's allowance for loan losses at December 31, 2011 reflected $1,851 of allocated reserve associated with modifications identified as TDRs. The reduction in the aggregate balance of allocated reserve associated with TDRs from December 31, 2011 to September 30, 2012 reflected the improvement in the underlying conditions of nine TDRs with an aggregate reserve of $1,064 at December 31, 2011, that resulted in the determination that the allocated reserve was no longer warranted on these TDRs as of September 30, 2012. In addition, $154 of reserves as of December 31, 2011 were charged-off upon the disposal of two TDRs during the nine months ended September 30, 2012. Otherwise, there was no impact on the Bank's allowance for loan losses related to TDRs as of September 30, 2012 and December 31, 2011.

As of September 30, 2012, the Bank had no loan commitments to borrowers with outstanding TDRs.

A TDR is considered to be in payment default once it is 90 days contractually past due under the modified terms. All TDRs are considered impaired loans and are evaluated individually for measurable impairment, if any.

As of September 30, 2012, there were no TDRs modified within the previous 12 months that defaulted subsequent to modification (thus no significant impact to the allowance for loan losses during the three-month or nine-month periods ended September 30, 2012 related to such loans).