DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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		As of
	March 31,		December 31,
(In thousands)	2019		2018
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	$	68,010	$	68,510
Purchased interest rate cap agreements		68,010		68,510
Interest rate lock commitments		9,301		11,722
Forward Contracts:
Sale of TBA GNMA MBS pools		28,000		33,000
Forward loan sales commitments		2,063		6,339
	$	175,384	$	188,081
(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 for derivative instruments their fair values and location in the consolidated statements of financial condition:
	Asset Derivatives					Liability Derivatives
	Statement of	March 31,		December 31,			March 31,		December 31,
	Financial	2019		2018			2019		2018
	Condition Location	FairValue		FairValue		Statement of Financial Condition Location	FairValue		FairValue
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	Other assets	$	-	$	-	Accounts payable and other liabilities	$	332	$	617
Purchased interest rate cap agreements	Other assets		334		623	Accounts payable and other liabilities		-		-
Interest rate lock commitments	Other assets		247		383	Accounts payable and other liabilities		-		-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets		-		-	Accounts payable and other liabilities		256		383
Forward loan sales commitments	Other assets		17		12	Accounts payable and other liabilities		-		-
		$	598	$	1,018		$	588	$	1,000

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

The following table summarizes the effect of derivative instruments on the consolidated statements of income:
		Gain (Loss)
	Location of Unrealized Gain (Loss)		Quarter Ended
	Recognized in	March 31,
	Statement of Income on Derivatives	2019		2018
			(In thousands)
UNDESIGNATED ECONOMIC HEDGES:
Interest rate contracts:
Written and purchased interest rate cap agreements	Interest income - Loans	$	(4)	$	-
Interest rate lock commitments	Mortgage Banking Activities		(20)		-
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities		127		(52)
Forward loan sales commitments	Mortgage Banking Activities		5		-
Total gain (loss) on derivatives		$	108	$	(52)