FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following tables present the assets measured at fair value on a recurring basis as of the dates indicated segmented 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. There were no financial liabilities measured at fair value on a recurring basis at December 31, 2017 or 2016.

			Fair Value Measurements at December 31, 2017 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Trading securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	460	$	460	$	-	$	-
International Equity Mutual Funds		120		120		-		-
Fixed Income Mutual Funds		2,135		2,135		-		-
Investment securities available-for-sale:
Registered Mutual Funds:
Domestic Equity Mutual Funds		1,512		1,512		-		-
International Equity Mutual Funds		445		445		-		-
Fixed Income Mutual Funds		2,049		2,049		-		-
Pass-through MBS issued by GSEs		340,879		-		340,879		-
Agency CMOs		10,505		-		10,505		-
Derivative – interest rate product		4,041		-		4,041		-

			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		-

Fair Value Measurements, Nonrecurring

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 December 31, 2017 and December 31, 2016 were as follows:

			Fair Value Measurements at December 31, 2017 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets:
Cash and due from banks	$	169,455	$	169,455	$	-	$	-	$	169,455
Loans, net		5,581,084		-		-		5,519,746		5,519,746
Accrued interest receivable		16,543		-		751		15,792		16,543
FHLBNY capital stock		59,696		N/A		N/A		N/A		N/A
Financial Liabilities:
Savings, money market and checking accounts		3,311,560		3,311,560		-		-		3,311,560
CDs		1,091,887		-		1,192,964		-		1,192,964
Escrow and other deposits		82,168		82,168		-		-		82,168
FHLBNY Advances		1,170,000		-		1,164,947		-		1,164,947
Subordinated debt, net		113,612		-		115,337		-		115,337
Accrued interest payable		1,623		-		1,623		-		1,623

			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