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DERIVATIVES AND HEDGING (Tables)
 9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Designated in Hedge Relationships
As of September 30, 2018 and December 31, 2017, the notional values or contractual amounts and fair values of the Company's derivatives designated in hedge relationships were as follows (in thousands):
 
Asset Derivatives
 
Liability Derivatives
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
Notional/
Contract Amount
 
Fair
   Value (1)
 
Notional/
Contract Amount
 
Fair
   Value (1)
 
Notional/
Contract Amount
 
Fair
   Value (2)
 
Notional/
Contract Amount
 
Fair
   Value (2)
Interest rate swaps
$
4,070

 
$
257

 
$
4,350

 
$
447

 
$
4,070

 
$
257

 
$
4,350

 
$
447


(1) 
Included in Loans receivable on the Consolidated Statements of Financial Condition.
(2) 
Included in Other liabilities on the Consolidated Statements of Financial Condition.
Schedule of Derivatives Not Designated in Hedge Relationships
As of September 30, 2018 and December 31, 2017, the notional values or contractual amounts and fair values of the Company's derivatives not designated in hedge relationships were as follows (in thousands):
 
Asset Derivatives
 
Liability Derivatives
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
Notional/
Contract Amount
 
Fair
   Value (1)
 
Notional/
Contract Amount
 
Fair
   Value (1)
 
Notional/
Contract Amount
 
Fair
   Value (2)
 
Notional/
Contract Amount
 
Fair
   Value (2)
Interest rate swaps
$
280,872

 
$
6,128

 
$
285,047

 
$
4,636

 
$
280,872

 
$
6,128

 
$
285,047

 
$
4,636

Mortgage loan commitments
39,104

 
212

 
29,739

 
225

 
24,926

 
24

 
13,763

 
153

Forward sales contracts
128,902

 
368

 
43,069

 
298

 
—

 
—

 
47,000

 
48

 
$
448,878

 
$
6,708

 
$
357,855

 
$
5,159

 
$
305,798

 
$
6,152

 
$
345,810

 
$
4,837


(1) 
Included in Other assets on the Consolidated Statements of Financial Condition, with the exception of certain interest swaps and mortgage loan commitments (with a fair value of $420,000 at September 30, 2018 and $499,000 at December 31, 2017), which are included in Loans receivable.
(2) 
Included in Other liabilities on the Consolidated Statements of Financial Condition.

Gains (losses) recognized in income on derivatives not designated in hedge relationships for the three and nine months ended September 30, 2018 and 2017 were as follows (in thousands):
 
Location on Consolidated
Statements of Operations
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2018
 
2017
 
2018
 
2017
Mortgage loan commitments
Mortgage banking operations
 
$
(177
)
 
$
50

 
$
(13
)
 
$
235

Forward sales contracts
Mortgage banking operations
 
325

 
(398
)
 
594

 
(654
)
 
 
 
$
148

 
$
(348
)
 
$
581

 
$
(419
)
Offsetting Assets and Liabilities
The following tables illustrate the potential effect of the Company's derivative master netting arrangements, by type of financial instrument, on the Company's Consolidated Statements of Financial Condition as of September 30, 2018 and December 31, 2017 (in thousands):
 
September 30, 2018
 
 
 
 
 
 
 
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
 
 
 
Gross Amounts Recognized
 
Amounts offset
in the Statement
of Financial Condition
 
Net Amounts
in the Statement
of Financial Condition
 
Netting Adjustment Per Applicable Master Netting Agreements
 
Fair Value
of Financial Collateral
in the Statement
of Financial Condition
 
Net Amount
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
6,385

 
$
—

 
$
6,385

 
$
—

 
$
—

 
$
6,385

 
$
6,385

 
$
—

 
$
6,385

 
$
—

 
$
—

 
$
6,385

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
6,385

 
$
—

 
$
6,385

 
$
—

 
$
(295
)
 
$
6,090

 
$
6,385

 
$
—

 
$
6,385

 
$
—

 
$
(295
)
 
$
6,090

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
 
 
 
Gross Amounts Recognized
 
Amounts offset
in the Statement
of Financial Condition
 
Net Amounts
in the Statement
of Financial Condition
 
Netting Adjustment Per Applicable Master Netting Agreements
 
Fair Value
of Financial Collateral
in the Statement
of Financial Condition
 
Net Amount
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
5,083

 
$
—

 
$
5,083

 
$
(656
)
 
$
—

 
$
4,427

 
$
5,083

 
$
—

 
$
5,083

 
$
(656
)
 
$
—

 
$
4,427

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
5,083

 
$
—

 
$
5,083

 
$
(656
)
 
$
(3,467
)
 
$
960

 
$
5,083

 
$
—

 
$
5,083

 
$
(656
)
 
$
(3,467
)
 
$
960