LOANS RECEIVABLE AND CREDIT QUALITY (Tables)

9 Months Ended

Sep. 30, 2014

LOANS RECEIVABLE AND CREDIT QUALITY [Abstract]

Financing Receivable Credit Quality Indicators

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 September 30, 2014
Grade	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 Loans
Not Graded(1)	$	10,026	$	-	$	-	$	-	$	-	$	10,026
Pass		55,858		3,193,264		331,368		387,208		-		3,967,698
Special Mention		7,378		22,669		5,114		15,676		-		50,837
Substandard		2,314		3,774		5,875		10,738		-		22,701
Doubtful		-		-		-		-		-		-
Total	$	75,576	$	3,219,707	$	342,357	$	413,622	$	-	$	4,051,262

⁽¹⁾ Amount comprised of fully performing one- to four-family residential and condominium and cooperative unit loans with balances equal to or less than the FNMA Limits.

	Balance at December 31, 2013
Grade	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 Loans
Not Graded(1)	$	11,370	$	-	$	-	$	-	$	-	$	11,370
Pass		53,472		2,900,979		364,808		299,122		-		3,618,381
Special Mention		6,651		17,938		5,203		4,420		-		34,212
Substandard		2,463		3,633		4,579		21,154		268		32,097
Doubtful		-		-		1,320		-		-		1,320
Total	$	73,956	$	2,922,550	$	375,910	$	324,696	$	268	$	3,697,380

⁽¹⁾ Amount comprised of fully performing one- to four-family residential and condominium 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 September 30, 2014		Balance at December 31, 2013
Performing	$	1,905	$	2,136
Non-accrual		8		3
Total	$	1,913	$	2,139

Past Due Financing Receivables

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 September 30, 2014
	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, including condominium and cooperative apartment	$	117	$	-	$	-	$	1,363	$	1,480	$	74,096	$	75,576
Multifamily residential and residential mixed use		415		573		159		1,039		2,186		3,217,521		3,219,707
Commercial mixed use real estate		-		-		-		4,400		4,400		337,957		342,357
Commercial real estate		-		-		2,241		4,717		6,958		406,664		413,622
Construction		-		-		-		-		-		-		-
Total real estate	$	532	$	573	$	2,400	$	11,519	$	15,024	$	4,036,238	$	4,051,262
Consumer	$	5	$	3	$	-	$	8	$	16	$	1,897	$	1,913

⁽¹⁾ Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of September 30, 2014.

At December 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, including condominium and  cooperative apartment	$	143	$	302	$	-	$	1,242	$	1,687	$	72,269	$	73,956
Multifamily residential and residential mixed use		744		-		1,031		1,197		2,972		2,919,578		2,922,550
Commercial mixed use real estate		-		-		-		4,400		4,400		371,510		375,910
Commercial real estate		404		-		-		5,707		6,111		318,585		324,696
Construction		-		-		-		-		-		268		268
Total real estate	$	1,291	$	302	$	1,031	$	12,546	$	15,170	$	3,682,210	$	3,697,380
Consumer	$	6	$	4	$	-	$	3	$	13	$	2,126	$	2,139

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

Troubled Debt Restructurings on Financing Receivables

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

	As of September 30, 2014				As of December 31, 2013
	No. of Loans		Balance		No. of Loans		Balance
One- to four-family residential, including condominium and cooperative apartment		2	$	607		3	$	934
Multifamily residential and residential mixed use		4		1,115		4		1,148
Commercial mixed use real estate		1		4,400		-		-
Commercial real estate		4		13,742		5		22,245
Total real estate		11	$	19,864		12	$	24,327

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

	As of September 30, 2014					As of December 31, 2013
	No. of Loans		Balance			No. of Loans		Balance
Outstanding principal balance at period end		11		$	19,864		12		$	24,327
TDRs on accrual status at period end		8			10,747		10			18,620
TDRs on non-accrual status at period end		3			9,117		2			5,707

There were no loans modified in a manner that met the criteria of a TDR during the three-month and nine-month periods ended September 30, 2013.

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

	For the Three Months Ended September 30, 2014						For the Nine Months Ended September 30, 2014
	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:
Commercial mixed use real estate		-		-		-		1	$	4,400	$	4,400
Commercial real estate		1	$	3,500	$	3,500		1		3,500		3,500
TOTAL		1	$	3,500	$	3,500		2	$	7,900	$	7,900