FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2019

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Assets and Liabilities Measured on Recurring Basis

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 September 30, 2019 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Marketable equity securities (Registered Mutual Funds):
Domestic equity mutual funds	$	1,564	$	1,564	$	—	$	—
International equity mutual funds		395		395		—		—
Fixed income mutual funds		3,876		3,876		—		—
Securities available-for-sale:
Agency Notes		40,047		—		40,047		—
Corporate Securities		26,543		—		26,543		—
Pass-through MBS issued by GSEs		247,431		—		247,431		—
Agency CMOs		205,587		—		205,587		—
Loans Held for Sale		1,839		—		1,839		—
Derivative – cash flow hedges		730		—		730		—
Derivative – freestanding derivatives		1,696		—		1,696		—
Financial Liabilities
Derivative – cash flow hedges		9,842		—		9,842		—
Derivative – freestanding derivatives		1,696		—		1,696		—

			Fair Value Measurements at December 31, 2018 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Marketable equity securities (Registered Mutual Funds)
Domestic equity mutual funds	$	1,420	$	1,420	$	—	$	—
International equity mutual funds		377		377		—		—
Fixed income mutual funds		3,870		3,870		—		—
Securities available-for-sale:
Agency Notes		25,145		—		25,145		—
Corporate Securities		11,135		—		11,135		—
Pass-through MBS issued by GSEs		354,613		—		354,613		—
Agency CMOs		111,992		—		111,992		—
Loans Held for Sale		1,097		—		1,097		—
Derivative – cash flow hedges		4,669		—		4,669		—
Financial Liabilities
Derivative – cash flow hedges		2,097		—		2,097		—

Impaired Loans Re-Measured and Reported at Fair Value

The following table presents impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral during the reported period.

					Fair Value Measurements at September 30, 2019 Using
	Carrying Amount Before Allocation		Specific Valuation Allowance Allocation		Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Impaired Loans
C&I	$	15,000	$	7,500	$	7,500	$	—	$	—	$	7,500

Carrying Amounts and Estimated Fair Values of Financial Instruments

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 September 30, 2019 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	112,541	$	112,541	$	—	$	—	$	112,541
Loans, net (excluding impaired loans carried at fair value)		5,448,235		—		—		5,443,562		5,443,562
Accrued interest receivable		19,329		19		1,751		17,559		19,329
Financial Liabilities
Savings, money market and checking accounts		2,740,718		2,740,718		—		—		2,740,718
Certificates of Deposits ("CDs")		1,650,688		—		1,652,396		—		1,652,396
Escrow and other deposits		110,233		110,233		—		—		110,233
FHLBNY Advances		1,056,750		—		1,040,395		—		1,040,395
Subordinated debt, net		113,869		—		114,732		—		114,732
Other borrowings		60,000		60,000		—		—		60,000
Accrued interest payable		5,646		12		5,634		—		5,646

			Fair Value Measurements at December 31, 2018 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	147,256	$	147,256	$	—	$	—	$	147,256
Loans, net		5,372,036		—		—		5,301,281		5,301,281
Accrued interest receivable		17,875		—		1,296		16,579		17,875
Financial Liabilities
Savings, money market and checking accounts		2,946,717		2,946,717		—		—		2,946,717
CDs		1,410,037		—		1,407,747		—		1,407,747
Escrow and other deposits		85,234		85,234		—		—		85,234
FHLBNY Advances		1,125,350		—		1,119,548		—		1,119,548
Subordinated debt, net		113,759		—		110,346		—		110,346
Accrued interest payable		2,710		—		2,710		—		2,710