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ALLOWANCE FOR LOAN LOSSES AND RESERVE FOR FIRST LOSS POSITION (Tables)
 12 Months Ended
Dec. 31, 2012
ALLOWANCE FOR LOAN LOSSES [Abstract]  
Allowance For Credit Losses For Impairment By Financing Receivables Class
The following table presents data regarding the allowance for loan losses and loans evaluated for impairment by class of loan within the real estate loan segment as well as for the aggregate consumer loan segment:

At or for the Year Ended December 31, 2012
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residential
and
Cooperative
Unit
  
Multifamily Residential and Residential Mixed Use
  
Mixed Use Commercial
Real Estate
  
Commercial Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
480
  
$
14,313
  
$
1,528
  
$
3,783
  
$
124
  
$
20,228
  
$
26
 
Charge-offs
  
(777
)
  
(2,478
)
  
(821
)
  
(521
)
  
(3
)
  
(4600
)
  
(10
)
Recoveries
  
17
   
829
   
18
   
39
   
-
   
903
   
-
 
Transfer from reserve for loan
   commitments
  
-
   
52
   
5
   
25
   
-
   
82
   
-
 
Provision (credit) for loan losses
  
624
   
1,583
   
1,744
   
56
   
(97
)
  
3,910
   
11
 
Ending balance
 
$
344
  
$
14,299
  
$
2,474
  
$
3,382
  
$
24
  
$
20,523
  
$
27
 
                            
Ending balance – loans individually
   evaluated for impairment
 
$
1,291
  
$
2,460
  
$
1,900
  
$
47,493
  
$
-
  
$
53,144
  
$
-
 
Ending balance – loans collectively
   evaluated for impairment
  
90,585
   
2,673,909
   
338,233
   
347,038
   
476
   
3,450,241
   
2,423
 
Allowance balance associated
   with loans individually evaluated
   for impairment
  
7
   
-
   
-
   
513
   
-
   
520
   
-
 
Allowance balance associated
   with loans collectivelly evaluated
   for impairment
  
337
   
14,299
   
2,474
   
2,869
   
24
   
20,003
   
27
 


At or for the Year Ended December 31, 2011
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residential
and
Cooperative
Unit
  
Multifamily Residential and Residential Mixed Use
  
Mixed Use Commercial
Real Estate
  
Commercial Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
409
  
$
14,226
  
$
1,331
  
$
2,821
  
$
345
  
$
19,132
  
$
34
 
Charge-offs
  
(129
)
  
(2,803
)
  
(697
)
  
(1,720
)
  
(962
)
  
(6,311
)
  
(29
)
Recoveries
  
-
   
220
   
48
   
147
  
‑
   
415
  
‑
 
Transfer from (to) reserve for loan
   Commitments
 
‑
   
165
   
(15
)
  
(13
)
  
30
   
167
  
‑
 
Provision for loan losses
  
200
   
2,505
   
861
   
2,548
   
711
   
6,825
   
21
 
Ending balance
 
$
480
  
$
14,313
  
$
1,528
  
$
3,783
  
$
124
  
$
20,228
  
$
26
 
                            
Ending balance – loans individually
   evaluated for impairment
 
$
2,547
  
$
10,028
  
$
6,739
  
$
51,070
   
-
  
$
70,384
  
$‑
 
Ending balance – loans collectively
   evaluated for impairment
  
98,165
   
2,592,891
   
331,531
   
362,246
   
3,199
   
3,388,032
   
2,449
 
Allowance balance associated
   with loans individually evaluated
   for impairment
  
130
   
45
   
73
   
1,927
   
-
   
2,175
  
‑
 
Allowance balance associated with
   loans collectivelly evaluated for
   impairment
  
350
   
14,268
   
1,455
   
1,856
   
124
   
18,053
   
26
 

At or for the Year Ended December 31, 2010
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residentail
and
Cooperative
Unit
  
Multifamily Residential and Residential Mixed Use
  
Mixed Use Commercial
Real Estate
  
Commercial Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
1,047
  
$
13,547
  
$
1,833
  
$
3,918
  
$
1,130
  
$
21,475
  
$
30
 
Charge-offs
  
(266
)
  
(10,062
)
  
(469
)
  
(1,964
)
  
(1,111
)
  
(13,872
)
  
(13
)
Recoveries
 
‑
   
55
  
‑
   
9
  
‑
   
64
  
‑
 
Transfer from (to) reserve for commitments
 
‑
   
188
   
65
   
(17
)
  
36
   
272
  
‑
 
Provision (credit) for loan losses
  
(372
)
  
10,498
   
(98
)
  
875
   
290
   
11,193
   
17
 
Ending balance
 
$
409
  
$
14,226
  
$
1,331
  
$
2,821
  
$
345
  
$
19,132
  
$
34
 
First Loss Position And Related Reserve Liability
The following is a summary of the aggregate balance of multifamily loans serviced for FNMA, the period-end First Loss Position associated with these loans, and activity in the related reserve liability:

 
 
At or for the Year Ended December 31,
 
 
 
2012
  
2011
  
2010
 
Outstanding balance of multifamily loans serviced for FNMA at period end
 
$
256,731
  
$
308,104
  
$
371,887
 
Total First Loss Position at end of period
  
15,428
   
16,356
   
16,789
 
Reserve Liability on the First Loss Position
            
Balance at beginning of period
 
$
2,993
  
$
2,993
  
$
4,373
 
Transfer of specific reserve for serviced loans re-acquired by the Bank
  
-
   
-
   
(1,123
)
Credit for losses on problem loans(1)
  
(1,286
)
  
-
   
-
 
Charge-offs and other net reductions in balance
  
(342
)
  
-
   
(257
)
Balance at period end
 
$
1,383
  
$
2,993
  
$
2,993
 
1 Amount recognized as a portion of mortgage banking income during the period.

During the years ended December 31, 2011 and 2010, the Bank received approval from FNMA to reduce the total First Loss Position by  $433 and $3,457, respectively, for losses incurred.  No such approval was received during the year ended December 31, 2012, however, the Bank was contractually permitted to reduce the total First Loss Position by $928 due to the satisfaction of certain loans within the FNMA pool.
Summary of Impaired Real Estate Loans
The following table summarizes impaired real estate loans as of and for the periods indicated (by collateral type within the real estate loan segment).

 
 
At December 31, 2012
  
For the Year Ended
Ended December 31, 2012
 
 
 
Unpaid Principal Balance at Period End
  
Recorded Investment
at Period End(1)
  
Reserve Balance Allocated within the Allowance for Loan Losses at Period End
  
Average Recorded Investment(1)
  
Interest
Income Recognized
 
One- to Four Family Residential and Cooperative Unit
 
  
  
  
  
 
   With no allocated reserve
 
$
1,079
  
$
1,079
  
$
-
  
$
867
  
$
55
 
   With an allocated reserve
  
258
   
212
   
7
   
452
   
19
 
Multifamily Residential and Residential Mixed Use
                    
   With no allocated reserve
  
2,767
   
2,460
   
-
   
5,434
   
341
 
   With an allocated reserve
  
-
   
-
   
-
   
420
   
-
 
Mixed Use Commercial Real Estate
                    
   With no allocated reserve
  
1,900
   
1,900
  
‑
   
2,516
   
74
 
   With an allocated reserve
  
-
   
-
   
-
   
192
   
-
 
Commercial Real Estate
                    
   With no allocated reserve
  
33,416
   
32,217
  
‑
   
29,362
   
1,675
 
   With an allocated reserve
  
15,276
   
15,276
   
513
   
20,087
   
746
 
Construction
                    
   With no allocated reserve
  
-
   
-
  
‑
   
-
   
-
 
   With an allocated reserve
  
-
   
-
  
‑
   
-
   
-
 
Total
                    
   With no allocated reserve
 
$
39,162
  
$
37,656
  
$
-
  
$
38,179
  
$
2,145
 
   With an allocated reserve
 
$
15,534
  
$
15,488
  
$
520
  
$
21,151
  
$
765
 
(1)
The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

 
 
At December 31, 2011
  
For the Year Ended
Ended December 31, 2011
 
 
 
Unpaid Principal Balance at Period End
  
Recorded Investment
at Period End(1)
  
Reserve Balance Allocated within the Allowance for Loan Losses at Period End
  
Average Recorded Investment(1)
  
Interest
Income Recognized
 
One- to Four Family Residential and Cooperative Unit
 
  
  
  
  
 
   With no allocated reserve
 
$
1,136
  
$
1,136
  
$
-
  
$
1,406
  
$
38
 
   With an allocated reserve
  
1,773
   
1,411
   
130
   
565
   
31
 
Multifamily Residential and Residential Mixed Use
                    
   With no allocated reserve
  
10,709
   
9,338
   
-
   
11,194
   
795
 
   With an allocated reserve
  
776
   
690
   
45
   
3,040
   
86
 
Mixed Use Commercial Real Estate
                    
   With no allocated reserve
  
5,780
   
5,780
  
‑
   
3,901
   
191
 
   With an allocated reserve
  
1,145
   
959
   
73
   
1,893
   
11
 
Commercial Real Estate
                    
   With no allocated reserve
  
14,317
   
11,812
  
‑
   
15,243
   
407
 
   With an allocated reserve
  
39,296
   
39,258
   
1,927
   
15,620
   
868
 
Construction
                    
   With no allocated reserve
  
-
   
-
  
‑
   
3,835
   
227
 
   With an allocated reserve
  
-
   
-
  
‑
   
-
   
-
 
Total
                    
   With no allocated reserve
 
$
31,942
  
$
28,066
  
$
-
  
$
35,579
  
$
1,658
 
   With an allocated reserve
 
$
42,990
  
$
42,318
  
$
2,175
  
$
21,118
  
$
996
 
(1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

The following table summarizes the average recorded investment and interest income recognized on impaired loans during the year ended December 31, 2010.  For purposes of this table, adjustments between the unpaid principal balance of the loans and their recorded investment (including accrued interest receivable) are deemed to be immaterial:

 
 
For the Year Ended
Ended December 31, 2010
 
 
 
Average Recorded Investment(1)
  
Interest Income Recognized
 
   With no allocated reserve
 
$
8,945
  
$
2,628
 
   With an allocated reserve
  
22,915
  
‑
 
Total
 
$
31,860
  
$
2,628
 
(1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.