FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2018

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Assets and Liabilities Measured on Recurring Basis

The following tables present financial assets 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, 2018 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Marketable equity securities (Registered Mutual Funds):
Domestic Equity Mutual Funds	$	1,886	$	1,886	$	—	$	—
International Equity Mutual Funds		511		511		—		—
Fixed Income Mutual Funds		3,971		3,971		—		—
Debt securities available-for-sale:
Agency Notes		5,078				5,078
Pass-through MBS issued by GSEs		298,949		—		298,949		—
Agency CMOs		115,989		—		115,989		—
Loans held for sale		430		—		430		—
Derivative – interest rate product		6,775		—		6,775		—
Financial Liabilities
Derivative – interest rate product	$	176	$	—	$	$176	$	—

			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		72,629		—		72,629		—
Agency CMOs		278,755		—		278,755		—
Derivative – interest rate product		4,041		—		4,041		—

Carrying Amounts and Estimated Fair Values of Financial Instruments

The following tables present the carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or non-recurring is as follows for 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, 2018 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	150,992	$	150,992	$	—	$	—	$	150,992
Loans, net		5,383,376		—		—		5,304,6333		5,304,633
Accrued interest receivable		16,643		—		1,002		15,641		16,643
FHLBNY capital stock		53,874		N/A		N/A		N/A		N/A
Financial Liabilities
Savings, money market and checking accounts		3,108,391		3,108,391		—		—		3,108,391
Certificates of Deposits (“CDs”)		1,251,002		—		1,246,733		—		1,246,733
Escrow and other deposits		89,302		89,302		—		—		89,302
FHLBNY Advances		1,043,650		—		1,034,053		—		1,034,053
Subordinated debt, net		113,686		—		113,686		—		113,686
Accrued interest payable		2,305		—		2,305		—		2,305

			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