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DERIVATIVES AND HEDGING (Tables)
 6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Designated in Hedge Relationships
As of June 30, 2019 and December 31, 2018, 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
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
 
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
$
3,773

 
$
279

 
$
3,973

 
$
270

 
$
3,773

 
$
279

 
$
3,973

 
$
270


(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 June 30, 2019 and December 31, 2018, 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
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
 
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
$
287,416

 
$
13,325

 
$
272,374

 
$
2,868

 
$
287,416

 
$
10,788

 
$
272,374

 
$
2,868

Mortgage loan commitments
88,810

 
1,373

 
20,229

 
273

 
42,890

 
45

 
17,763

 
187

Forward sales contracts
46,726

 
172

 
18,328

 
198

 
225,703

 
1,035

 
144,250

 
1,467

 
$
422,952

 
$
14,870

 
$
310,931

 
$
3,339

 
$
556,009

 
$
11,868

 
$
434,387

 
$
4,522


(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 $406,000 at June 30, 2019 and $282,000 at December 31, 2018), 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 six months ended June 30, 2019 and 2018 were as follows (in thousands):
 
Location on Consolidated
Statements of Operations
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2019
 
2018
 
2019
 
2018
Mortgage loan commitments
Mortgage banking operations
 
$
1,093

 
$
96

 
$
1,100

 
$
164

Forward sales contracts
Mortgage banking operations
 
(392
)
 
(73
)
 
(242
)
 
268

 
 
 
$
701

 
$
23

 
$
858

 
$
432
Offsetting Assets and Liabilities as of June 30, 2019 and December 31, 2018 (in thousands):
 
June 30, 2019
 
 
 
 
 
 
 
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
$
13,621

 
$
(17
)
 
$
13,604

 
$
—

 
$
—

 
$
13,604

 
$
13,621

 
$
(17
)
 
$
13,604

 
$
—

 
$
—

 
$
13,604

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
13,621

 
$
(2,554
)
 
$
11,067

 
$
—

 
$
(10,919
)
 
$
148

 
$
13,621

 
$
(2,554
)
 
$
11,067

 
$
—

 
$
(10,919
)
 
$
148

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 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
$
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