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DERIVATIVES AND HEDGING DERIVATIVES AND HEDGING (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of December 31, 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
 
December 31, 2018
 
December 31, 2017
 
December 31, 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
$
3,973

 
$
270

 
$
4,350

 
$
447

 
$
3,973

 
$
270

 
$
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 Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
As of December 31, 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
 
December 31, 2018
 
December 31, 2017
 
December 31, 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
$
272,374

 
$
2,868

 
$
285,047

 
$
4,636

 
$
272,374

 
$
2,868

 
$
285,047

 
$
4,636

Mortgage loan commitments
20,229

 
273

 
29,739

 
225

 
17,763

 
187

 
13,763

 
153

Forward sales contracts
18,328

 
198

 
43,069

 
298

 
144,250

 
1,467

 
47,000

 
48

 
$
310,931

 
$
3,339

 
$
357,855

 
$
5,159

 
$
434,387

 
$
4,522

 
$
345,810

 
$
4,837


(1) 
Included in Other Assets on the Consolidated Statements of Financial Condition, with the exception of those interest rate swaps from prior to 2009 that were not designated in hedge relationships (with a fair value of $270,000 at December 31, 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 non-designated hedging instruments for the years ended December 31, 2018, 2017 and 2016 were as follows (in thousands):
 
 
 
For the Years Ended December 31
 
Location on Income Statement
 
2018

 
2017

 
2016

Mortgage loan commitments
Mortgage banking operations
 
$
47

 
$
195

 
$
(348
)
Forward sales contracts
Mortgage banking operations
 
(775
)
 
(491
)
 
296

 
 
 
$
(728
)
 
$
(296
)
 
$
(52
)
Offsetting Assets and Liabilities
The following presents additional information related to the Company's derivative contracts, by type of financial instrument, as of December 31, 2018 and December 31, 2017 (in thousands):
 
December 31, 2018
 
 
 
 
 
 
 
Gross Amounts of Financial Instruments Not Offset in the Statement of Financial Condition
 
 
 
Gross Amounts Recognized
 
Amounts offset in the Statement
of Financial Condition
 
Net Amounts
in the Statement
of Financial Condition
 
Derivative Amount
 
Fair Value
of Financial Collateral
in the Statement
of Financial Condition
 
Net Amount
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
5,038

 
$
(1,900
)
 
$
3,138

 
$
—

 
$
—

 
$
3,138

 
$
5,038

 
$
(1,900
)
 
$
3,138

 
$
—

 
$
—

 
$
3,138

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
5,038

 
$
(1,900
)
 
$
3,138

 
$
—

 
$
(1,320
)
 
$
1,818

 
$
5,038

 
$
(1,900
)
 
$
3,138

 
$
—

 
$
(1,320
)
 
$
1,818

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
Gross Amounts of Financial Instruments Not Offset in the Statement of Financial Condition
 
 
 
Gross Amounts Recognized
 
Amounts offset in the Statement
of Financial Condition
 
Net Amounts
in the Statement
of Financial Condition
 
Derivative Amount
 
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