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ALLOWANCE FOR LOAN LOSSES AND RESERVE FOR FIRST LOSS POSITION (Tables)
 12 Months Ended
Dec. 31, 2013
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, 2013
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residential,
Including Condominium and
Cooperative
Apartment
  
Multifamily Residential and Residential Mixed Use
  
Commercial
Mixed Use
Real Estate
  
Commercial Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
344
  
$
14,299
  
$
2,474
  
$
3,382
  
$
24
  
$
20,523
  
$
27
 
Provision (credit) for loan losses
  
(187
)
  
10
   
891
   
(342
)
  
(21
)
  
351
   
18
 
Charge-offs
  
(117
)
  
(504
)
  
(391
)
  
(9
)
  
-
   
(1,021
)
  
(21
)
Recoveries
  
196
   
35
   
29
   
16
   
-
   
276
   
-
 
Ending balance
 
$
236
  
$
13,840
  
$
3,003
  
$
3,047
  
$
3
  
$
20,129
  
$
24
 
                            
Ending balance – loans individually  evaluated for impairment
 
$
1,199
  
$
2,345
  
$
4,400
  
$
22,245
  
$
-
  
$
30,189
  
$
-
 
Ending balance – loans collectively evaluated for impairment
  
72,757
   
2,920,205
   
371,510
   
302,451
   
268
   
3,667,191
   
2,139
 
Allowance balance associated with loans
   individually evaluated for impairment
  
-
   
-
   
1,320
   
451
   
-
   
1,771
   
-
 
Allowance balance associated with loans collectivelly
   evaluated for impairment
  
236
   
13,840
   
1,683
   
2,596
   
3
   
18,358
   
24
 

At or for the Year Ended December 31, 2012
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residential,
Including Condominium and
Cooperative
Apartment
  
Multifamily Residential and Residential Mixed Use
  
Commercial
Mixed Use
Real Estate
  
Commercial
Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
480
  
$
14,313
  
$
1,528
  
$
3,783
  
$
124
  
$
20,228
  
$
26
 
Provision (credit) for loan losses
  
624
   
1,583
   
1,744
   
56
   
(97
)
  
3,910
   
11
 
Charge-offs
  
(777
)
  
(2,478
)
  
(821
)
  
(521
)
  
(3
)
  
(4,600
)
  
(10
)
Recoveries
  
17
   
829
   
18
   
39
   
-
   
903
   
-
 
Transfer from reserve for loan commitments
  
-
   
52
   
5
   
25
   
-
   
82
   
-
 
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 impairmentt
  
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 December 31, 2011
 
 
 
Real Estate Loans
  
Consumer Loans
 
 
 
One- to Four Family Residential, Including Condominium
and
Cooperative
Apartment
  
Multifamily Residential and Residential Mixed Use
  
Commercial
Mixed Use
Real Estate
  
Commercial Real Estate
  
Construction
  
Total Real Estate
  
 
Beginning balance
 
$
409
  
$
14,226
  
$
1,331
  
$
2,821
  
$
345
  
$
19,132
  
$
34
 
Provision for loan losses
  
200
   
2,505
   
861
   
2,548
   
711
   
6,825
   
21
 
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
   
-
 
Ending balance
 
$
480
  
$
14,313
  
$
1,528
  
$
3,783
  
$
124
  
$
20,228
  
$
26
 
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, 2013
  
Year Ended December 31, 2013
 
 
 
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, Including
   Condominium and Cooperative Apartment
 
  
  
  
  
 
   With no allocated reserve
 
$
1,066
  
$
987
  
$
-
  
$
1,010
  
$
42
 
   With an allocated reserve
  
255
   
212
   
-
   
211
   
14
 
Multifamily Residential and Residential Mixed Use
                    
   With no allocated reserve
  
2,494
   
2,345
   
-
   
2,851
   
163
 
   With an allocated reserve
  
-
   
-
   
-
   
-
   
-
 
Commercial Mixed Use Real Estate
                    
   With no allocated reserve
  
-
   
-
   
-
   
1,272
   
200
 
   With an allocated reserve
  
4,500
   
4,400
   
1,320
   
880
   
-
 
Commercial Real Estate
                    
   With no allocated reserve
  
8,316
   
7,203
   
-
   
22,787
   
1,100
 
   With an allocated reserve
  
15,042
   
15,042
   
451
   
15,168
   
857
 
Construction
                    
   With no allocated reserve
  
-
   
-
   
-
   
-
   
-
 
   With an allocated reserve
  
-
   
-
   
-
   
-
   
-
 
Total
                    
   With no allocated reserve
 
$
11,876
  
$
10,535
  
$
-
  
$
27,920
  
$
1,505
 
   With an allocated reserve
 
$
19,797
  
$
19,654
  
$
1,771
  
$
16,259
  
$
871
 
(1)
The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

 
 
At December 31, 2012
  
Year 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, Including
   Condominium and Cooperative Apartment
 
  
  
  
  
 
   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
   
-
 
Commercial Mixed Use 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.

The following table summarizes the average recorded investment and interest income recognized on impaired loans during the year ended December 31, 2011.  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, 2011
 
 
 
Average Recorded Investment(1)
  
Interest
Income Recognized
 
One- to Four Family Residential, Including
   Condominium and Cooperative Apartment
 
  
 
   With no allocated reserve
 
$
1,406
  
$
38
 
   With an allocated reserve
  
565
   
31
 
Multifamily Residential and Residential Mixed Use
        
   With no allocated reserve
  
11,194
   
795
 
   With an allocated reserve
  
3,040
   
86
 
Commercial Mixed Use Real Estate
        
   With no allocated reserve
  
3,901
   
191
 
   With an allocated reserve
  
1,893
   
11
 
Commercial Real Estate
        
   With no allocated reserve
  
15,243
   
407
 
   With an allocated reserve
  
15,620
   
868
 
Construction
        
   With no allocated reserve
  
3,835
   
227
 
   With an allocated reserve
  
-
   
-
 
Total
        
   With no allocated reserve
  
35,579
   
1,658
 
   With an allocated reserve
  
21,118
   
996
 
(1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.
First Loss Position And Related Reserve Liability

 
 
At or for the Year Ended December 31,
 
 
 
2013
  
2012
  
2011
 
Outstanding balance of multifamily loans serviced for FNMA at period end
 
$
208,375
  
$
256,731
  
$
308,104
 
Total First Loss Position at end of period
  
15,428
   
15,428
   
16,356
 
Reserve Liability on the First Loss Position
            
Balance at beginning of period
 
$
1,383
  
$
2,993
  
$
2,993
 
Credit for losses on problem loans(1)
  
(305
)
  
(1,286
)
  
-
 
Charge-offs and other net reductions in balance
  
(38
)
  
(342
)
  
-
 
Balance at period end
 
$
1,040
  
$
1,383
  
$
2,993
 
1 Amount recognized as a portion of mortgage banking income during the period.

The total First Loss Position remained unchanged during the year ended December 31, 2013.  During the year ended December 31, 2012, 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.