XML 77 R62.htm IDEA: XBRL DOCUMENT v3.22.4
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
12 Months Ended
Dec. 31, 2022
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES [Abstract]  
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 notional
 
amounts, fair values and location in the consolidated
statements of financial condition as of the indicated dates:
Asset Derivatives
Liability Derivatives
Notional Amounts
(1)
Statements of Financial
Condition Location
Fair Value
Statements of Financial Condition
Location
Fair Value
December 31,
December 31,
December 31,
2022
2021
2022
2021
2022
2021
(In thousands)
Undesignated economic hedges:
Interest rate contracts:
 
Interest rate swap agreements
 
$
9,290
$
12,588
Other assets
$
313
$
1,098
Accounts payable and other liabilities
$
278
$
1,092
 
Written interest rate cap agreements
14,500
14,500
Other assets
-
-
Accounts payable and other liabilities
197
8
 
Purchased interest rate cap agreements
14,500
14,500
Other assets
199
8
Accounts payable and other liabilities
-
-
 
Interest rate lock commitments
3,225
12,097
Other assets
63
379
Accounts payable and other liabilities
-
-
Forward Contracts:
 
Sales of TBA GNMA MBS pools
11,000
27,000
Other assets
58
-
Accounts payable and other liabilities
1
78
 
Forward loan sales commitments
-
12,668
Other assets
-
20
Accounts payable and other liabilities
-
-
$
52,515
$
93,353
$
633
$
1,505
$
476
$
1,178
(1) Notional amounts are presented on a gross basis with no netting of offsetting exposure positions.
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 Gain (Loss)
Year ended
on Derivative Recognized in
December 31,
Statements of Income
2022
2021
2020
(In thousands)
Undesignated economic hedges:
 
Interest rate contracts:
 
Interest rate swap agreements
 
Interest income - loans
$
28
$
24
$
27
 
Written and purchased interest rate cap agreements
Interest income - loans
2
-
-
 
Interest rate lock commitments
Mortgage banking activities
(322)
(687)
576
 
Forward contracts:
 
Sales of TBA GNMA MBS pools
Mortgage banking activities
135
114
(54)
 
Forward loan sales commitments
Mortgage banking activities
(20)
-
(37)
 
Total (loss) gain on derivatives
$
(177)
$
(549)
$
512