FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2019

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

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

	Fair Value Measurement using:
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
	Carrying		For Identical		Observable		Unobservable
	Amount		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
At March 31, 2019
Residential mortgage-backed securities	$	20,706	$	—	$	20,706	$	—
Residential collateralized mortgage obligations		2,031		—		2,031		—
Commercial mortgage-backed securities		5,925		—		5,925		—
Municipal bond		1,069		—		1,069		—
CRA Mutual Fund		2,149		2,149		—		—
	Fair Value Measurement using:
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
	Carrying		For Identical		Observable		Unobservable
	Amount		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
At December 31, 2018
Residential mortgage-backed securities	$	21,397	$	—	$	21,397	$	—
Residential collateralized mortgage obligations		2,116		—		2,116		—
Commercial mortgage-backed securities		5,849		—		5,849		—
Municipal bond		1,077		—		1,077		—
CRA Mutual Fund		2,110		2,110		—		—

Schedule of carrying amount and estimated fair values of financial instruments

Carrying amount and estimated fair values of financial instruments at March 31, 2019 and December 31, 2018 were as follows (dollars in thousands):

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
	Carrying		For Identical		Observable		Unobservable		Total Fair
At March 31, 2019	Amount		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Value
Assets:
Cash and due from banks	$	9,372	$	9,372	$	—	$	—	$	9,372
Overnight deposits		346,674		346,674		—		—		346,674
Debt securities available for sale		29,731		—		29,731		—		29,731
Securities held to maturity		4,392		—		4,295		—		4,295
Marketable equity securities		2,149		2,149		—		—		2,149
Loans, net		2,081,586		—		—		2,060,691		2,060,691
Other investments
FRB Stock		7,265		N/A		N/A		N/A		N/A
FHLB Stock		10,887		N/A		N/A		N/A		N/A
SBA Loan Fund		5,000		N/A		N/A		N/A		N/A
Disability Fund		500		—		500		—		500
Accrued interest receivable		6,396		—		139		6,257		6,396
Financial Liabilities:
Non-interest-bearing demand deposits	$	915,499	$	915,499	$	—	$	—	$	915,499
Money market and savings deposits		938,398		938,398		—		—		938,398
Time deposits		112,233		—		112,366		—		112,366
Federal Home Loan Bank of New York advances		215,000		—		215,009		—		215,009
Trust preferred securities payable		20,620		—		—		20,020		20,020
Subordinated debt, net of issuance cost		24,559		—		25,125		—		25,125
Accrued interest payable		984		67		671		246		984

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets		Other		Significant
	Carrying		For Identical		Observable		Unobservable		Total Fair
At December 31, 2018	Amount		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Value
Assets:
Cash and due from banks	$	9,246	$	9,246	$	—	$	—	$	9,246
Overnight deposits		223,704		223,704		—		—		223,704
Debt securities available for sale		30,439		—		30,439		—		30,349
Securities held to maturity		4,571		—		4,403		—		4,403
Marketable equity securities		2,110		2,110		—		—		2,110
Loans, net		1,846,274		—		—		1,796,462		1,796,462
Other investments		—		—		—		—		—
FRB Stock		7,250		N/A		N/A		N/A		N/A
FHLB Stock		9,537		N/A		N/A		N/A		N/A
SBA Loan Fund		5,000		N/A		N/A		N/A		N/A
Disability Fund		500		—		500		—		500
Accrued interest receivable		5,507		—		127		5,380		5,507
Financial liabilities:
Non-interest-bearing demand deposits	$	798,563	$	798,563	$	—	$	—	$	798,563
Money market and savings deposits		764,990		764,990		—		—		764,990
Time deposits		97,001		—		96,859		—		96,859
Federal Home Loan Bank of New York advances		185,000		—		184,999		—		184,999
Trust preferred securities payable		20,620		—		—		19,821		19,821
Subordinated debt, net of issuance cost		24,545		—		25,125		—		25,125
Accrued interest payable		1,282		13		1,044		225		1,282