FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Fair Value, 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, 2020 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Marketable equity securities (Registered Mutual Funds):
Domestic equity mutual funds	$	1,503	$	1,503	$	—	$	—
International equity mutual funds		385		385		—		—
Fixed income mutual funds		3,819		3,819		—		—
Securities available-for-sale:
Agency Notes		35,008		—		35,008		—
Corporate Securities		42,720		—		42,720		—
Pass-through MBS issued by GSEs		191,802		—		191,802		—
Agency CMOs		272,477		—		272,477		—
Derivative – freestanding derivatives, net		18,475		—		18,475		—
Financial Liabilities
Derivative – cash flow hedges		30,504		—		30,504		—
Derivative – freestanding derivatives, net		18,475		—		18,475		—

			Fair Value Measurements at December 31, 2019 Using
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets
Marketable equity securities (Registered Mutual Funds)
Domestic equity mutual funds	$	1,657	$	1,657	$	—	$	—
International equity mutual funds		420		420		—		—
Fixed income mutual funds		3,817		3,817		—		—
Securities available-for-sale:
Agency Notes		19,935		—		19,935		—
Corporate Securities		28,596		—		28,596		—
Pass-through MBS issued by GSEs		247,483		—		247,483		—
Agency CMOs		254,981		—		254,981		—
Derivative – cash flow hedges		1,081		—		1,081		—
Derivative – freestanding derivatives		1,362		—		1,362		—
Financial Liabilities
Derivative – cash flow hedges		7,718		—		7,718		—
Derivative – freestanding derivatives		1,362		—		1,362		—

Fair Value Measurements, Nonrecurring

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 nonrecurring 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, 2020 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	117,013	$	117,013	$	—	$	—	$	117,013
Loans, net		5,401,890		—		—		5,413,499		5,413,499
Accrued interest receivable		27,506		—		1,559		25,947		27,506
Financial Liabilities
Savings, money market and checking accounts		3,044,858		3,044,858		—		—		3,044,858
Certificates of Deposits (“CDs”)		1,393,554		—		1,400,677		—		1,400,677
Escrow and other deposits		87,646		87,646		—		—		87,646
FHLBNY Advances		1,017,300		—		1,026,525		—		1,026,525
Subordinated debt, net		113,979		—		109,379		—		109,379
Accrued interest payable		1,961		—		1,961		—		1,961

			Fair Value Measurements at December 31, 2019 Using
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Financial Assets
Cash and due from banks	$	155,488	$	155,488	$	—	$	—	$	155,488
Loans, net		5,312,097		—		—		5,301,708		5,301,708
Accrued interest receivable		18,891		—		1,674		17,217		18,891
Financial Liabilities
Savings, money market and checking accounts		2,709,756		2,709,756		—		—		2,709,756
CDs		1,572,869		—		1,576,706		—		1,576,706
Escrow and other deposits		76,481		76,481		—		—		76,481
FHLBNY Advances		1,092,250		—		1,093,964		—		1,093,964
Subordinated debt, net		113,906		—		114,769		—		114,769
Other borrowings		110,000		110,000		—		—		110,000
Accrued interest payable		4,570		—		4,570		—		4,570