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LOANS RECEIVABLE AND CREDIT QUALITY (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 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
 
Not Graded(1)
 
$
12,738
  
$
-
  
$
-
  
$
-
  
$
-
  
$
12,738
 
Pass
  
59,409
   
2,772,701
   
328,177
   
370,138
   
-
   
3,530,425
 
Special Mention
  
6,750
   
9,155
   
5,681
   
4,320
   
-
   
25,906
 
Substandard
  
2,213
   
3,350
   
7,199
   
22,078
   
338
   
35,178
 
Total real estate loans
 
$
81,110
  
$
2,785,206
  
$
341,057
  
$
396,536
  
$
338
  
$
3,604,247
 
(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.

 
 
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
 
Not Graded(1)
 
$
16,141
  
$
-
  
$
-
  
$
-
  
$
-
  
$
16,141
 
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
 
$
91,876
  
$
2,676,369
  
$
340,133
  
$
394,531
  
$
476
  
$
3,503,385
 
(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.

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 June 30, 2013
  
Balance at December 31, 2012
 
Performing
 
$
2,512
  
$
2,415
 
Non-accrual
  
5
   
8
 
Total
 
$
2,517
  
$
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 June 30, 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
$4
$149
$-
$1,164
$1,317
$79,793
$81,110
   Multifamily residential and residential mixed use
-
-
974
1,688
2,662
2,782,544
2,785,206
   Mixed use commercial real estate
-
-
-
1,150
1,150
339,907
341,057
   Commercial real estate
-
-
-
5,500
5,500
391,036
396,536
   Construction
-
-
-
-
-
338
338
Total real estate
$4
$149
$974
$9,502
$10,629
$3,593,618
$3,604,247
Consumer
$1
$5
$-
$5
$11
$2,506
$2,517
(1) Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of June 30, 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.

Accruing Loans 90 Days or More Past Due:

The Bank continued accruing interest on three real estate loans with an outstanding balance of $974 at June 30, 2013, and one loan with an outstanding balance of $190 at December 31, 2012, all  of which were 90 days or more past due on their respective contractual balloon principal payments.  The three loans at June 30, 2013, one of which was the $190 loan outstanding at December 31, 2012, continued to make monthly payments consistent with their initial contractual amortization schedule exclusive of the balloon payments.  These loans are both well secured and expected to be refinanced during the year ending December 31, 2013, and therefore remained on accrual status at both June 30, 2013 and December 31, 2012, and thus were deemed performing assets at both June 30, 2013 and 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 June 30, 2013
  
As of December 31, 2012
 
 
 
No. of Loans
  
Balance
  
No. of Loans
  
Balance
 
   One- to four-family residential and cooperative unit
  
3
  
$
941
   
3
  
$
948
 
   Multifamily residential and residential mixed use
  
5
   
1,917
   
5
   
1,953
 
   Mixed use commercial real estate
  
1
   
718
   
1
   
729
 
   Commercial real estate
  
10
   
41,016
   
13
   
47,493
 
Total real estate
  
19
  
$
44,592
   
22
  
$
51,123
 

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

 
 
As of June 30, 2013
  
As of December 31, 2012
 
 
 
No. of Loans
  
Balance
  
No. of Loans
  
Balance
 
Outstanding principal balance at period end
  
19
  
$
44,592
   
22
  
$
51,123
 
TDRs on accrual status at period end
  
17
   
38,699
   
20
   
44,858
 
TDRs on non-accrual status at period end
  
2
   
5,893
   
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 June 30, 2013 and December 31, 2012.

There were no loan modifications during the three months ended June 30, 2013 and 2012 that met the definition of a TDR.  The following table summarizes activity related to TDRs for the periods indicated:

 
For the Six Months Ended
June 30, 2013
 
For the Six Months Ended
June 30, 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- month and six- month periods ended June 30, 2013 and 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.

The Bank's allowance for loan losses at June 30, 2013 reflected $522 of allocated reserve associated with TDRs.  The Bank's allowance for loan losses at December 31, 2012 reflected $520 of allocated reserve associated with TDRs.  Activity related to reserves associated with TDRs was immaterial during the three-month and six-month periods ended June 30, 2013.  During the six months ended June 30, 2012, allocated reserves totaling $1,034 associated with nine TDRs were removed, as improvement in the underlying conditions of these loans resulted in the determination that the allocated reserve was no longer warranted.  In addition, during the six months ended June 30, 2012, $154 of reserves were charged-off upon the disposal of two TDRs.

As of June 30, 2013 and December 31, 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.

There were no TDRs which defaulted within twelve months following the modification during the three or six-month periods ended June 30, 2013 or 2012 (thus no significant impact to the allowance for loan losses during those periods).