DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 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 the indicated dates:
	Notional Amounts (1)
	As of December 31,
	2020		2019
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Interest rate swap agreements	$	15,864	$	-
Written interest rate cap agreements		14,500		21,010
Purchased interest rate cap agreements		14,500		21,010
Interest rate lock commitments		19,931		11,456
Forward Contracts:
Sale of TBA GNMA MBS pools		42,000		35,000
Forward loan sales commitments		19,998		6,418
	$	126,793	$	94,894
(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 as of the indicated dates:
	Asset Derivatives					Liability Derivatives
	Statements of	December 31,		December 31,			December 31,		December 31,
	Financial Condition	2020		2019		Statements of	2020		2019
	Location	Fair Value		Fair Value		Financial Condition Location	Fair Value		Fair Value
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Interest rate swap agreements	Other assets	$	1,622	$	-	Accounts payable and other liabilities	$	1,639	$	-
Written interest rate cap agreements	Other assets		-		-	Accounts payable and other liabilities		1		11
Purchased interest rate cap agreements	Other assets		1		11	Accounts payable and other liabilities		-		-
Interest rate lock commitments	Other assets		737		341	Accounts payable and other liabilities		-		-
Forward Contracts:
Sales of TBA GNMA MBS pools	Other assets		102		-	Accounts payable and other liabilities		280		138
Forward loan sales commitments	Other assets		20		20	Accounts payable and other liabilities		-		-
		$	2,482	$	372		$	1,920	$	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)	Year ended
	on Derivative Recognized in	December 31,
	Statements of Income	2020		2019		2018
		(In thousands)
Undesignated economic hedges:
Interest rate contracts:
Interest rate swap agreements	Interest income - Loans	$	27	$	-	$	-
Written and purchased interest rate cap agreements	Interest income - Loans		-		(6)		22
Interest rate lock commitments	Mortgage Banking Activities		576		224		383
Forward contracts:
Sales of TBA GNMA MBS pools	Mortgage Banking Activities		(54)		245		(371)
Forward loan sales commitments	Mortgage Banking Activities		(37)		8		12
Total gain on derivatives		$	512	$	471	$	46