FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2017

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Schedule of Assets and Liabilities Measured on Recurring Basis

The following tables present the assets and liabilities measured at fair value on a recurring basis as of the dates 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.

			Fair Value Measurements at June 30, 2017 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	437	$	437	$	-	$	-
International Equity Mutual Funds		114		114		-		-
Fixed Income Mutual Funds		2,136		2,136		-		-
Investment securities available-for-sale:
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,456		1,456		-		-
International Equity Mutual Funds		429		429		-		-
Fixed Income Mutual Funds		2,164		2,164		-		-
Pass-through MBS issued by GSEs		343		-		343		-
Agency CMOs		3,153		-		3,153		-
Derivative – interest rate product		2,898		-		2,898		-
Financial Liabilities
Derivative – interest rate product		87		-		87		-

			Fair Value Measurements at December 31, 2016 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	873	$	873	$	-	$	-
International Equity Mutual Funds		213		213		-		-
Fixed Income Mutual Funds		5,867		5,867		-		-
Investment securities available-for-sale:
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,356		1,356		-		-
International Equity Mutual Funds		377		377		-		-
Fixed Income Mutual Funds		2,162		2,162		-		-
Pass-through MBS issued by GSEs		372		-		372		-
Agency CMOs		3,186		-		3,186		-
Derivative – interest rate product		3,228		-		3,228		-

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, 2017 and December 31, 2016 were as follows:

			Fair Value Measurements at June 30, 2017 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	110,044	$	110,044	$	-	$	-	$	110,044
TRUP CDOs		5,315		-		-		8,385		8,385
Loans, net		5,854,896		-		-		5,845,003		5,845,003
Accrued interest receivable		16,124		-		12		16,112		16,124
FHLBNY capital stock		50,961		N/A		N/A		N/A		N/A
Financial Liabilities
Savings, money market and checking accounts		3,521,854		3,521,854		-		-		3,521,854
Certificates of Deposits (“CDs”)		896,626		-		899,111		-		899,111
Escrow and other deposits		91,196		91,196		-		-		91,196
FHLBNY Advances		944,575		-		943,875		-		943,875
Subordinated debt		113,545		-		114,695		-		114,695
Trust Preferred securities payable		70,680		70,680		-		-		70,680
Accrued interest payable		2,289		-		2,289		-		2,289

			Fair Value Measurements at December 31, 2016 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	113,503	$	113,503	$	-	$	-	$	113,503
TRUP CDOs		5,378		-		-		7,296		7,296
Loans, net		5,615,886		-		-		5,609,034		5,609,034
Accrued interest receivable		15,647		-		11		15,636		15,647
FHLBNY capital stock		44,444		N/A		N/A		N/A		N/A
Financial Liabilities
Savings, money market and checking accounts		3,346,961		3,346,961		-		-		3,346,961
CDs		1,048,465		-		1,054,131		-		1,054,131
Escrow and other deposits		103,001		103,001		-		-		103,001
FHLBNY Advances		831,125		-		831,951		-		831,951
Trust Preferred securities payable		70,680		-		69,973		-		69,973
Accrued interest payable		2,080		-		2,080		-		2,080