SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2013
SUBSEQUENT EVENTS [Abstract]
Subsequent Events [Text Block]	11. SUBSEQUENT EVENTS The Company recently provided notice to our primary regulator and affected customers that we will be closing our Water Mill and Middle Island branches in October 2013. The Company expects to record a one-time pre-tax charge of approximately $0.6 million during the third quarter of 2013 in connection with the closing of these two branches. The Company also anticipates selling the Water Mill branch later this year. The current appraised value of the Water Mill branch is well in excess of its carrying amount on the Company’s statement of condition. Once implemented, these branch closings are expected to reduce total operating expenses by approximately $0.8 million per year. The Bank was a member of the former Visa, Inc. payments organization and was issued Class B shares in 2008 when Visa, Inc. was organized. Approximately 39% of those shares were redeemed in connection with Visa, Inc.’s initial public offering in March 2008. The remaining shares that the Bank received have been restricted because of unsettled litigation pending against Visa, Inc. At its discretion, Visa, Inc. may redeem additional shares in order to resolve pending litigation. Accordingly, the Company has recorded these shares at zero in the accompanying statement of condition. On July 30, 2013, the Bank sold 50,000 Visa Class B shares at a gross pre-tax gain of approximately $3.8 million, which will be recorded in non-interest income in the Company’s statement of operations in the third quarter of 2013. The Company will also record its current estimate of the related liability of approximately $0.5 million arising from the sale of these shares as it retains the risk of future additions to the Visa, Inc. litigation reserve. The Company will record an operating expense in the third quarter in connection with this liability. The Company continues to own 88,638 Visa Class B shares subsequent to the sale described above. These shares remain restricted because of the continuing uncertainty of the litigation pending against Visa, Inc. Accordingly, the Company continues to record its Visa Class B shares at zero pending the outcome of the litigation. To the extent that the Company continues to own Visa Class B shares in the future, the Company expects to record the fair value of those shares upon expiration of the foregoing restriction.

11. SUBSEQUENT EVENTS

The Company recently provided notice to our primary regulator and affected customers that we will be closing our Water Mill and Middle Island branches in October 2013. The Company expects to record a one-time pre-tax charge of approximately $0.6 million during the third quarter of 2013 in connection with the closing of these two branches. The Company also anticipates selling the Water Mill branch later this year. The current appraised value of the Water Mill branch is well in excess of its carrying amount on the Company’s statement of condition. Once implemented, these branch closings are expected to reduce total operating expenses by approximately $0.8 million per year.

The Bank was a member of the former Visa, Inc. payments organization and was issued Class B shares in 2008 when Visa, Inc. was organized. Approximately 39% of those shares were redeemed in connection with Visa, Inc.’s initial public offering in March 2008. The remaining shares that the Bank received have been restricted because of unsettled litigation pending against Visa, Inc. At its discretion, Visa, Inc. may redeem additional shares in order to resolve pending litigation. Accordingly, the Company has recorded these shares at zero in the accompanying statement of condition.

On July 30, 2013, the Bank sold 50,000 Visa Class B shares at a gross pre-tax gain of approximately $3.8 million, which will be recorded in non-interest income in the Company’s statement of operations in the third quarter of 2013. The Company will also record its current estimate of the related liability of approximately $0.5 million arising from the sale of these shares as it retains the risk of future additions to the Visa, Inc. litigation reserve. The Company will record an operating expense in the third quarter in connection with this liability.

The Company continues to own 88,638 Visa Class B shares subsequent to the sale described above. These shares remain restricted because of the continuing uncertainty of the litigation pending against Visa, Inc. Accordingly, the Company continues to record its Visa Class B shares at zero pending the outcome of the litigation. To the extent that the Company continues to own Visa Class B shares in the future, the Company expects to record the fair value of those shares upon expiration of the foregoing restriction.