FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of December 31, 2014 and 2013 (in thousands):

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Securities—available-for-sale
U.S. Government and agency	$	—	$	29,770	$	—	$	29,770
Municipal bonds	—		50,028		—		50,028
Corporate bonds	—		5,018		—		5,018
Mortgage-backed securities	—		300,810		—		300,810
Asset-backed securities	—		25,395		—		25,395
	—		411,021		—		411,021
Securities—trading
U.S. Government and agency	—		1,505		—		1,505
Municipal bonds	—		1,440		—		1,440
TPS and TRUP CDOs	—		—		19,118		19,118
Mortgage-backed securities	—		18,136		—		18,136
Equity securities and other	—		59		—		59
	—		21,140		19,118		40,258
Derivatives
Interest rate lock commitments	—		—		317		317
Interest rate swaps	—		6,290		—		6,290
	$	—	$	438,451	$	19,435	$	457,886
Liabilities
Advances from FHLB at fair value	$	—	$	32,250	$	—	$	32,250
Junior subordinated debentures net of unamortized deferred issuance costs at fair value	—		—		78,001		78,001
Derivatives
Interest rate forward sales commitments	—		198		—		198
Interest rate swaps	—		6,290		—		6,290
	$	—	$	38,738	$	78,001	$	116,739

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Securities—available-for-sale
U.S. Government and agency	$	—	$	58,660	$	—	$	58,660
Municipal bonds	—		52,855		—		52,855
Corporate bonds	—		6,964		—		6,964
Mortgage-backed securities	—		326,610		—		326,610
Asset-backed securities	—		25,191		—		25,191
	—		470,280		—		470,280
Securities—trading
U.S. Government and agency	—		1,481		—		1,481
Municipal bonds	—		5,023		—		5,023
TPS and TRUP CDOs	—		—		35,140		35,140
Mortgage-backed securities	—		20,760		—		20,760
Equity securities and other	—		68		—		68
	—		27,332		35,140		62,472
Derivatives
Interest rate lock commitments	—		—		130		130
Interest rate swaps	—		4,946		—		4,946
	$	—	$	502,558	$	35,270	$	537,828
Liabilities
Advances from FHLB at fair value	$	—	$	27,250	$	—	$	27,250
Junior subordinated debentures net of unamortized deferred issuance costs at fair value	—		—		73,928		73,928
Derivatives
Interest rate forward sales commitments	—		43		—		43
Interest rate swaps	—		4,946		—		4,946
	$	—	$	32,239	$	73,928	$	106,167

Schedule of Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the year ended December 31, 2014 and 2013 (in thousands):

	Year Ended December 31, 2014
	Level 3 Fair Value Inputs
	TPS and TRUP CDOs			Borrowings— Junior Subordinated Debentures
Beginning balance at December 31, 2013	$	35,140		$	73,928
Total gains or losses recognized
Assets gains (losses)	5,481			—
Liabilities (gains) losses	—			4,073
Purchases, issuances and settlements	—			—
Paydowns and maturities	(21,502		)	—
Transfers in and/or out of Level 3	—			—
Ending balance at December 31, 2014	$	19,119		$	78,001
	Year Ended December 31, 2013
	Level 3 Fair Value Inputs
	TPS and TRUP CDOs			Borrowings— Junior Subordinated Debentures
Beginning balance at December 31, 2012	$	35,741		$	73,063
Total gains or losses recognized
Assets gains (losses)	(181		)	—
Liabilities (gains) losses	—			865
Purchases, issuances and settlements	—			—
Paydowns and maturities	(420		)	—
Transfers in and/or out of Level 3	—			—
Ending balance at December 31, 2013	$	35,140		$	73,928

Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following tables present financial assets and liabilities measured at fair value on a non-recurring basis and the level within the fair value hierarchy at December 31, 2014 and 2013 (in thousands):

	At or For the Year Ended December 31, 2014
	Level 1		Level 2		Level 3		Total		Net Losses Recognized During the Period
Impaired loans	$	—	$	—	$	4,725	$	4,725	$	(512	)
REO	—		—		3,352		3,352		(453		)
	At or For the Year Ended December 31, 2013
	Level 1		Level 2		Level 3		Total		Net Losses Recognized During the Period
Impaired loans	$	—	$	—	$	10,627	$	10,627	$	(4,890	)
REO	—		—		4,044		4,044		(853		)

Schedule of Valuation Technique, Unobservable Input, and Qualitative Information for Unobservable Inputs

The following table provides a description of the valuation technique, unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring and nonrecurring basis at December 31, 2014 and 2013:

			December 31
			2014		2013
Financial Instruments	Valuation Technique	Unobservable Inputs	Weighted Average Rate		Weighted Average Rate
TPS securities	Discounted cash flows	Discount rate	5.26	%	5.50	%
TRUP CDOs	Discounted cash flows	Discount rate	3.96		3.85
Junior subordinated debentures	Discounted cash flows	Discount rate	5.26		5.50
Impaired loans	Discounted cash flows	Discount rate	Various		Various
	Collateral Valuations	Market values	n/a		n/a
REO	Appraisals	Market values	n/a		n/a

Schedule of Fair Value of Financial Instruments, by Balance Sheet Grouping

The following table presents estimated fair values of the Company’s financial instruments as of December 31, 2014 and 2013, whether or not recognized or recorded in the consolidated Statements of Financial Condition.  The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies.  However, considerable judgment is necessary to interpret market data in the development of the estimates of fair value.  Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange.  The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.  The carrying value and estimated fair value of financial instruments at December 31, 2014 and 2013 are as follows (in thousands):

	December 31, 2014				December 31, 2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Assets:
Cash and due from banks	$	126,072	$	126,072	$	137,349	$	137,349
Securities—trading	40,258		40,258		62,472		62,472
Securities—available-for-sale	411,021		411,021		470,280		470,280
Securities—held-to-maturity	131,258		137,608		102,513		103,610
Loans receivable held for sale	2,786		2,807		2,734		2,751
Loans receivable	3,831,034		3,722,179		3,415,711		3,297,936
FHLB stock	27,036		27,036		35,390		35,390
BOLI	63,759		63,759		61,945		61,945
Mortgage servicing rights	9,030		12,987		8,086		11,529
Derivatives:
Interest rate swaps	6,290		6,290		4,946		4,946
Interest rate lock commitments	317		317		130		130
Liabilities:
Demand, interest-bearing checking and money market	2,227,292		1,998,649		1,946,467		1,697,095
Regular savings	901,142		784,006		798,764		695,863
Certificates of deposit	770,516		764,549		872,695		867,904
Advances from FHLB at fair value	32,250		32,250		27,250		27,250
Junior subordinated debentures at fair value	78,001		78,001		73,928		73,928
Other borrowings	77,185		77,185		83,056		83,056
Derivatives:
Interest rate swaps	6,290		6,290		4,946		4,946
Interest rate forward sales commitments	198		198		43		43