DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

DERIVATIVE INSTRUMENTS [Abstract]

Offsetting Of Derivative Assets And Liabilities

Certain financial instruments such as derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. The Bank's derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association ("ISDA") master agreements which include "right of set-off" provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Bank does not generally offset such financial instruments for financial reporting purposes.

	March 31, 2013
							Gross Amounts Not Offset
							in the Consolidated
							Balance Sheet
										Financial
	Gross Amount		Gross Amount		Net Amount		Financial			Collateral			Net
	Recognized		Offset		Recognized		Instruments			Pledged			Amount
	(In thousands)
Financial assets:
Derivatives:
Forward commitments	$	3,666	$	-	$	3,666	$	-		$	-		$	3,666
Loan/lease interest rate swaps		46,284		-		46,284		-			-			46,284
Total financial assets	$	49,950	$	-	$	49,950	$	-		$	-		$	49,950
Financial liabilities:
Derivatives:
Forward commitments	$	968	$	-	$	968	$	-		$	-		$	968
Loan/lease interest rate swaps		46,284		-		46,284		-			(46,284	)		-
Repurchase arrangements		353,742		-		353,742		(353,742	)		-			-
Total financial liabilities	$	400,994	$	-	$	400,994	$	(353,742	)	$	(46,284	)	$	968

	December 31, 2012
							Gross Amounts Not Offset
							in the Consolidated
							Balance Sheet
										Financial
	Gross Amount		Gross Amount		Net Amount		Financial			Collateral			Net
	Recognized		Offset		Recognized		Instruments			Pledged			Amount
	(In thousands)
Financial assets:
Derivatives:
Forward commitments	$	4,168	$	-	$	4,168	$	-		$	-		$	4,168
Loan/lease interest rate swaps		52,154		-		52,154		-			-			52,154
Total financial assets	$	56,322	$	-	$	56,322	$	-		$	-		$	56,322
Financial liabilities:
Derivatives:
Forward commitments	$	622	$	-	$	622	$	-		$	-		$	622
Loan/lease interest rate swaps		52,154		-		52,154		-			(52,154	)		-
Repurchase arrangements		414,611		-		414,611		(414,611	)		-			-
Total financial liabilities	$	467,387	$	-	$	467,387	$	(414,611	)	$	(52,154	)	$	622

	March 31, 2012
							Gross Amounts Not Offset
							in the Consolidated
							Balance Sheet
										Financial
	Gross Amount		Gross Amount		Net Amount		Financial			Collateral			Net
	Recognized		Offset		Recognized		Instruments			Pledged			Amount
	(In thousands)
Financial assets:
Derivatives:
Forward commitments	$	2,963	$	-	$	2,963	$	-		$	-		$	2,963
Loan/lease interest rate swaps		50,857		-		50,857		-			-			50,857
Total financial assets	$	53,820	$	-	$	53,820	$	-		$	-		$	53,820
Financial liabilities:
Derivatives:
Forward commitments	$	351	$	-	$	351	$	-		$	-		$	351
Loan/lease interest rate swaps		50,857		-		50,857		-			(50,857	)		-
Repurchase arrangements		401,089		-		401,089		(401,089	)		-			-
Total financial liabilities	$	452,297	$	-	$	452,297	$	(401,089	)	$	(50,857	)	$	351