LOANS RECEIVABLE AND CREDIT QUALITY (Tables)

3 Months Ended

Mar. 31, 2013

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 March 31, 2013
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	$	63,163	$	2,700,314	$	328,870	$	377,646	$	-	$	3,469,993
Special Mention		6,759		7,086		3,597		6,196		-		23,638
Substandard		2,429		3,524		8,590		22,136		416		37,095
Total real estate loans individually assigned a credit grade	$	72,351	$	2,710,924	$	341,057	$	405,978	$	416	$	3,530,726
Real estate loans not individually assigned a credit grade⁽¹⁾	$	13,661	‑		‑		‑		‑		$	13,661

⁽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, 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	$	66,415	$	2,665,410	$	326,053	$	363,299	$	-	$	3,421,177
Special Mention		6,333		7,711		5,547		2,639		-		22,230
Substandard		2,987		3,248		8,533		28,593		476		43,837
Total real estate loans individually assigned a credit grade	$	75,735	$	2,676,369	$	340,133	$	394,531	$	476	$	3,487,244
Real estate loans not individually assigned a credit grade⁽¹⁾	$	16,141	‑		‑		‑		‑		$	16,141

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 March 31, 2013		Balance at December 31, 2012
Performing	$	1,960	$	2,415
Non-accrual		7		8
Total	$	1,967	$	2,423

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 March 31, 2013
	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	$	304	$	192	$	-	$	697	$	1,193	$	84,819	$	86,012
Multifamily residential and residential mixed use		916		-		186		809		1,911		2,709,013		2,710,924
Mixed use commercial real estate		-		-		-		1,159		1,159		339,898		341,057
Commercial real estate		563		-		-		5,500		6,063		399,915		405,978
Construction		-		-		-		-		-		416		416
Total real estate	$	1,783	$	192	$	186	$	8,165	$	10,326	$	3,534,062	$	3,544,387
Consumer	$	5	$	5	$	-	$	7	$	17	$	1,950	$	1,967

⁽¹⁾Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of March 31, 2013.

At December 31, 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	$	336	$	155	$	-	$	938	$	1,429	$	90,447	$	91,876
Multifamily residential and residential mixed use		6,451		-		190		507		7,148		2,669,221		2,676,369
Mixed use commercial real estate		-		-		-		1,170		1,170		338,963		340,133
Commercial real estate		207		-		-		6,265		6,472		388,059		394,531
Construction		-		-		-		-		-		476		476
Total real estate	$	6,994	$	155	$	190	$	8,880	$	16,219	$	3,487,166	$	3,503,385
Consumer	$	2	$	5	$	-	$	8	$	15	$	2,408	$	2,423

⁽¹⁾Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of December 31, 2012.

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following table summarizes outstanding TDRs by underlying collateral type as of the dates indicated:

	As of March 31, 2013				As of December 31, 2012
	No. of Loans		Balance		No. of Loans		Balance
One- to four-family residential and cooperative unit		3	$	944		3	$	948
Multifamily residential and residential mixed use		5		1,933		5		1,953
Mixed use commercial real estate		1		724		1		729
Commercial real estate		11		43,738		13		47,493
Total real estate		20	$	47,339		22	$	51,123

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

	As of March 31, 2013				As of December 31, 2012
	No. of Loans		Balance		No. of Loans		Balance
Outstanding principal balance at period end		20	$	47,339		22	$	51,123
TDRs on accrual status at period end		18		41,444		20		44,858
TDRs on non-accrual status at period end		2		5,895		2		6,265

Accrual status for TDRs is determined separately for each TDR in accordance with the Bank's policies for determining accrual or non-accrual status. At the time an agreement is entered into between the Bank and the borrower that results in the Bank's determination that a TDR has been created, the loan can be either on accrual or non-accrual status. If a loan is on non-accrual status at the time it is restructured, it continues to be classified as non-accrual until the borrower has demonstrated compliance with the modified loan terms for a period of at least six months. Conversely, if at the time of restructuring the loan is performing (and accruing), it will remain accruing throughout its restructured period, unless the loan subsequently meets any of the criteria for non-accrual status under either the Bank's policy and/or the criteria related to accrual of interest established by agency regulations.

The Company has not restructured troubled consumer loans, as its consumer loan portfolio has not experienced any problem issues warranting restructuring. Therefore, all TDRs were collateralized by real estate at both March 31, 2013 and December 31, 2012.

The following table summarizes activity related to TDRs for the periods indicated:

	For the Three Months Ended March 31, 2013						For the Three Months Ended March 31, 2012
	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:
Multifamily residential and residential mixed use		-		-		-		1	$	459	$	459
Commercial real estate		-		-		-		2		4,430		4,430
TOTAL		-		-		-		3	$	4,889	$	4,889

During the three months ended March 31, 2012, the Company made modifications to other existing loans that were deemed both insignificant and sufficiently temporary in nature, thus not warranting classification as TDRs. Such activity was immaterial.