FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables present the assets that are reported on the consolidated statements of financial condition at fair value as of the date indicated by level within the fair value hierarchy. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Assets Measured at Fair Value on a Recurring Basis at December 31, 2013
			Fair Value Measurements Using
Description	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Gains(Losses) for the Year Ended December 31, 2013
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	1,311	$	1,311	$	-	$	-	$	290
International Equity Mutual Funds		164		164		-		-		23
Fixed Income Mutual Funds		5,347		5,347		-		-		(48	)
Investment securities available-for-sale:
Agency notes		15,091		-		15,091		-		-
Registered Mutual Funds:
Domestic Equity Mutual Funds		2,016		2,016		-		-		-
International Equity Mutual Funds		427		427		-		-		-
Fixed Income Mutual Funds		1,115		1,115		-		-		-
Pass-through MBS issued by GSEs		29,959		-		29,959		-		-
CMOs issued by GSEs		321		-		321		-		-
Private issuer pass through MBS		680		-		680		-		-
Private issuer CMOs		583		-		583		-		-

Assets Measured at Fair Value on a Recurring Basis at December 31, 2012
			Fair Value Measurements Using
Description	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Gains for the Year Ended December 31, 2012
Trading Securities (Registered Mutual Funds)
Domestic Equity Mutual Funds	$	930	$	930	$	-	$	-	$	89
International Equity Mutual Funds		129		129		-		-		12
Fixed Income Mutual Funds		3,815		3,815		-		-		11
Investment securities available-for-sale:
Agency notes		29,945		-		29,945		-		-
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,502		1,502		-		-		-
International Equity Mutual Funds		358		358		-		-		-
Fixed Income Mutual Funds		1,145		1,145		-		-		-
Pass-through MBS issued by GSEs		44,678		-		44,678		-		-
CMOs issued by GSEs		2,462		-		2,462		-		-
Private issuer pass through MBS		955		-		955		-		-
Private issuer CMOs		926		-		926		-		-

Fair Value Measurements, Nonrecurring

Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2013
			Fair Value Measurements Using
Description	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Impaired loans:
One- to Four Family Residential, Including Condominium and Cooperative Apartment		477		-		-		477
Multifamily Residential and Residential Mixed Use Real Estate		325		-		-		325
Commercial Mixed Use Real Estate		4,400		-		-		4,400
Commercial Real Estate		5,707		-		-		5,707

Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2012
				Fair Value Measurements Using
Description	Total			Level 1 Inputs			Level 2 Inputs			Level 3 Inputs
Impaired loans:
Multifamily Residential and Residential Mixed Use Real Estate		$	450		$	-		$	-		$	450
Commercial Real Estate			6,472			-			-			6,472

Fair Value Inputs, Assets, Quantitative Information

The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis at December 31, 2013:

Fair Value Derived		Valuation Technique Utilized	Significant Unobservable Input(s)	Minimum Value			Maximum Value			Weighted Average Value
$	4,607	Income approach only	Capitalization rate		N/A	(1)		N/A	*		7.5	%
			Reduction for planned expedited disposal		N/A	(1)		N/A	*		0.4	%
	802	Blended income and sales comparison approaches	Reduction to the sales comparison value to reconcile differences between comparable sales		0.0	%-		15.0	%		5.0	%
			Capitalization rate (income approach component)		7.8	%		8.5	%		8.3	%
			Reduction for planned expedited disposal		20.0	%		30.0	%		26.0	%
	5,500	Previously negotiated note sales	Discount to unpaid principal balance from likely realizable value of a note sale based upon comparable note sale experience		N/A	(1)		N/A	(1)		17.0	%

(1)  Only one loan in this population.

The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis at December 31, 2012:

Fair Value Derived	Valuation Technique Utilized	Significant Unobservable Input(s)	Minimum Value	Maximum Value	Weighted Average Value
$207	Income approach only	Capitalization rate	N/A(1)	N/A(1)	7.5%
		Reduction for planned expedited disposal	N/A(1)	N/A(1)	10.0%
1,215	Blended income and sales comparison approaches	Reduction to the sales comparison value to reconcile differences between comparable sales	0.0%	6.0%	3.8%
		Capitalization rate (income approach component)	7.3%	7.5%	7.4%
		Reduction for planned expedited disposal	10.0%	25.0%	15.6%
5,500	Previously negotiated note sales	Discount to unpaid principal balance from likely realizable value of a note sale based upon comparable note sale experience	N/A(1)	N/A(1)	17.0%

(1)  Only one loan in this population.

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of financial instruments at December 31, 2013 and December 31, 2012 were as follows:

			Fair Value at December 31, 2013 Using
At December 31, 2013	Carrying Amount		Level 1 Inputs			Level 2 Inputs			Level 3 Inputs			Total
Assets:
Cash and due from banks	$	45,777	$	45,777			-			-		$	45,777
Investment securities held to maturity (TRUPS)		5,341		-			-			5,163			5,163
Loans, net		3,679,366		-			-			3,718,604			3,718,604
Premises held for sale		3,624		-			4,400			-			4,400
Accrued interest receivable		12,066		-			178			11,888			12,066
MSR		628		-			1,006			-			1,006
FHLBNY capital stock		48,051		n/	a		n/	a		n/	a		n/	a
Liabilities:
Savings, money market and checking accounts		1,678,737		1,678,737			-			-			1,678,737
CDs		828,409		-			839,059			-			839,059
Escrow and other deposits		69,404		69,404			-			-			69,404
FHLBNY Advances		910,000		-			934,336			-			934,336
Trust Preferred securities payable		70,680		-			70,680			-			70,680
Accrued interest payable		2,642		-			2,642			-			2,642

			Fair Value at December 31, 2012 Using
At December 31, 2012	Carrying Amount		Level 1 Inputs			Level 2 Inputs			Level 3 Inputs			Total
Assets:
Cash and due from banks	$	79,076	$	79,076			-			-		$	79,076
Investment securities held to maturity (TRUPS)		5,927		-			-			6,195			6,195
Loans, net		3,485,258		-			-			3,610,065			3,610,065
Loans held for sale		560		-			560			-			560
Accrued interest receivable		13,518		-			359			13,159			13,518
MSR		1,115		-			1,511			-			1,511
FHLBNY capital stock		45,011		N/	A		N/	A		N/	A		N/	A
Liabilities:
Savings, money market and checking accounts		1,587,454		1,587,454			-			-			1,587,454
CDs		891,975		-			907,657			-			907,657
Escrow and other deposits		82,753		82,753			-			-			82,753
FHLBNY Advances		842,500		-			885,774			-			885,774
Trust Preferred securities payable		70,680		-			70,680			-			70,680
Accrued interest payable		2,528		-			2,827			-			2,827