DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2020

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 as of indicated dates:
	Notional Amounts (1)
	As of		As of
	March 31,		December 31,
(In thousands)	2020		2019
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	$	21,010	$	21,010
Purchased interest rate cap agreements		21,010		21,010
Interest rate lock commitments		34,599		11,456
Forward Contracts:
Sale of TBA GNMA MBS pools		25,500		35,000
Forward loan sales commitments		5,023		6,418
	$	107,142	$	94,894

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 as of the indicated dates:
	Asset Derivatives					Liability Derivatives
	Statement of	March 31,		December 31,			March 31,		December 31,
	Financial	2020		2019			2020		2019
	Condition Location	Fair Value		Fair Value		Statement of Financial Condition Location	Fair Value		Fair Value
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Written interest rate cap agreements	Other assets	$	-	$	-	Accounts payable and other liabilities	$	9	$	11
Purchased interest rate cap agreements	Other assets		9		11	Accounts payable and other liabilities		-		-
Interest rate lock commitments	Other assets		303		341	Accounts payable and other liabilities		-		-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets		-		-	Accounts payable and other liabilities		803		138
Forward loan sales commitments	Other assets		20		20	Accounts payable and other liabilities		-		-
		$	332	$	372		$	812	$	149

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 for the indicated periods:
		Gain (or Loss)
	Location of Unrealized Gain (Loss)		Quarter Ended
	on Derivative Recognized in	March 31,
	Statements of Income	2020		2019
			(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		(91)		(20)
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities		(665)		127
Forward loan sales commitments	Mortgage Banking Activities		-		5
Total (loss) gain on derivatives		$	(756)	$	108