FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2016

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Schedule of Assets and Liabilities 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 segmented by level within the fair value hierarchy.  Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Assets and Liabilities Measured at Fair Value on a Recurring Basis at June 30, 2016
			Fair Value Measurements Using
Description	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	787	$	787	$	-	$	-
International Equity Mutual Funds		207		207		-		-
Fixed Income Mutual Funds		5,820		5,820		-		-
Investment securities available-for-sale:
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,244		1,244		-		-
International Equity Mutual Funds		374		374		-		-
Fixed Income Mutual Funds		2,219		2,219		-		-
Pass-through MBS issued by GSEs		406		-		406		-
Financial Liabilities
Derivative – interest rate product	$	957		-	$	957		-

Assets Measured at Fair Value on a Recurring Basis at December 31, 2015
			Fair Value Measurements Using
Description	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	1,053	$	1,053	$	-	$	-
International Equity Mutual Funds		281		281		-		-
Fixed Income Mutual Funds		8,867		8,867		-		-
Investment securities available-for-sale:
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,253		1,253		-		-
International Equity Mutual Funds		383		383		-		-
Fixed Income Mutual Funds		2,120		2,120		-		-
Pass-through MBS issued by GSEs		431		-		431		-

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or non-recurring basis at June 30, 2016 and December 31, 2015 were as follows:

			Fair Value at June 30, 2016 Using
At June 30, 2016	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Cash and due from banks	$	89,927	$	89,927	$	-	$	-	$	89,927
Investment securities held to maturity (TRUPS)		5,319		-				6,805		6,805
Loans, net		5,190,208		-		-		5,213,167		5,213,167
Accrued interest receivable		14,896		-		2		14,894		14,896
FHLBNY capital stock		52,814		N/A		N/A		N/A		N/A
Liabilities:
Savings, money market and checking accounts		2,745,744		2,745,744		-		-		2,745,744
Certificates of Deposit ("CDs")		1,034,522		-		1,043,254		-		1,043,354
Escrow and other deposits		92,290		92,964		-		-		92,964
FHLBNY Advances		1,017,125		-		1,026,682		-		1,026,682
Trust Preferred securities payable		70,680		-		69,973		-		69,973
Accrued interest payable		2,156		-		2,156		-		2,156

			Fair Value at December 31, 2015 Using
At December 31, 2015	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Cash and due from banks	$	64,154	$	64,154	$	-	$	-	$	64,154
Investment securities held to maturity (TRUPS)		5,242		-		-		7,051		7,051
Loans, net		4,678,262		-		-		4,722,803		4,722,803
Accrued interest receivable		13,486		-		19		13,467		12,664
FHLBNY capital stock		58,713		N/A		N/A		N/A		N/A
Liabilities:
Savings, money market and checking accounts		2,325,463		2,325,463		-		-		2,325,463
CDs		858,847		-		865,581		-		865,581
Escrow and other deposits		77,130		77,130		-		-		77,130
FHLBNY Advances		1,166,725		-		1,170,274		-		1,170,274
Trust Preferred securities payable		70,680		-		69,973		-		69,973
Accrued interest payable		2,259		-		2,259		-		2,259