DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2016

Notional Amounts of All Derivative Instruments [Table Text Block]

The following table summarizes the notional amounts of all derivative instruments:
	Notional Amounts (1)
	As of December 31,
	2016		2015
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	$	91,510	$	120,816
Purchased interest rate cap agreements		91,510		120,816
Forward Contracts:
Sale of TBA GNMA MBS pools		33,000		30,000
	$	216,020	$	271,632
(1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions.

Summary of Fair Value of Derivative Instruments and Location in Statement of Financial Condition [Table Text Block]

The following table summarizes the fair value of derivative instruments and the location in the statement of financial conditions:
	Asset Derivatives					Liability Derivatives
	Statement of Financial Condition Location	December 31,		December 31,		Statement of Financial Condition Location	December 31,		December 31,
		2016		2015			2016		2015
		FairValue		FairValue			FairValue		FairValue
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	Other assets	$	-	$	-	Accounts payable and other liabilities	$	552	$	798
Purchased interest rate cap agreements	Other assets		554		806	Accounts payable and other liabilities		-		-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets		-		-	Accounts payable and other liabilities		201		123
		$	554	$	806		$	753	$	921

Effect of Derivative Instruments on Statement of Income (Loss) [Table Text Block]

The following table summarizes the effect of derivative instruments on the statement of income:
		Gain (or Loss)
	Location of Gain (or loss)	Year ended
	Recognized in Income on	December 31,
	Derivatives	2016		2015		2014
		(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Interest rate swap agreements	Interest income - Loans	$	-	$	-	$	1,258
Written and purchased interest rate cap agreements	Interest income - Loans		-		139		-
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities		(78)		25		(322)
Total (loss) gain on derivatives		$	(78)	$	164	$	936