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DERIVATIVES AND HEDGING DERIVATIVES AND HEDGING (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of December 31, 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
 
December 31, 2019
 
December 31, 2018
 
December 31, 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
$
3,567

 
$
220

 
$
3,973

 
$
270

 
$
3,567

 
$
220

 
$
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 Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

As of December 31, 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
 
December 31, 2019
 
December 31, 2018
 
December 31, 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
$
371,957

 
$
14,982

 
$
272,374

 
$
2,868

 
$
371,957

 
$
10,746

 
$
272,374

 
$
2,868

Mortgage loan commitments
50,755

 
791

 
20,229

 
273

 
65,855

 
190

 
17,763

 
187

Forward sales contracts
70,895

 
317

 
18,328

 
198

 
239,320

 
484

 
144,250

 
1,467

 
$
493,607

 
$
16,090

 
$
310,931

 
$
3,339

 
$
677,132

 
$
11,420

 
$
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 $347,000 at December 31, 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 non-designated hedging instruments for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):
 
 
 
For the Years Ended December 31
 
Location on Income Statement
 
2019

 
2018

 
2017

Mortgage loan commitments
Mortgage banking operations
 
$
518

 
$
47

 
$
195

Forward sales contracts
Mortgage banking operations
 
(693
)
 
(775
)
 
(491
)
 
 
 
$
(175
)
 
$
(728
)
 
$
(296
)
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, 2019 and December 31, 2018 (in thousands):
 
December 31, 2019
 
 
 
 
 
 
 
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
$
15,242

 
$
(40
)
 
$
15,202

 
$
—

 
$
—

 
$
15,202

 
$
15,242

 
$
(40
)
 
$
15,202

 
$
—

 
$
—

 
$
15,202

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
15,242

 
$
(4,276
)
 
$
10,966

 
$
—

 
$
(15,209
)
 
$
(4,243
)
 
$
15,242

 
$
(4,276
)
 
$
10,966

 
$
—

 
$
(15,209
)
 
$
(4,243
)
 
 
 
 
 
 
 
 
 
 
 
 
 
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