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DERIVATIVES AND HEDGING (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Designated in Hedge Relationships
As of September 30, 2020 and December 31, 2019, the notional values or contractual amounts and fair values of the Company’s derivatives designated in hedge relationships were as follows (in thousands):
Asset DerivativesLiability Derivatives
September 30, 2020December 31, 2019September 30, 2020December 31, 2019
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$427 $15 $3,567 $220 $427 $15 $3,567 $220 

(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, 2020 and December 31, 2019, 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 DerivativesLiability Derivatives
September 30, 2020December 31, 2019September 30, 2020December 31, 2019
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$419,497 $43,491 $371,957 $14,982 $419,497 $23,912 $371,957 $10,746 
Mortgage loan commitments
224,834 8,454 50,755 791 79,412 516 65,855 190 
Forward sales contracts
109,994 2,019 70,895 317 259,000 994 239,320 484 
$754,325 $53,964 $493,607 $16,090 $757,909 $25,422 $677,132 $11,420 

(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 $1.5 million at September 30, 2020 and $347,000 at December 31, 2019), 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, 2020 and 2019 were as follows (in thousands):
Location on Consolidated
Statements of Operations		Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Mortgage loan commitmentsMortgage banking operations$2,639 $(80)$7,664 $1,020 
Forward sales contractsMortgage banking operations258 47 (779)(195)
$2,897 $(33)$6,885 $825 
Offsetting Assets and Liabilities as of September 30, 2020 and December 31, 2019 (in thousands):
September 30, 2020
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
Gross Amounts RecognizedAmounts offset
in the Statement
of Financial Condition		Net Amounts
in the Statement
of Financial Condition		Netting Adjustment Per Applicable Master Netting AgreementsFair Value
of Financial Collateral
in the Statement
of Financial Condition		Net Amount
Derivative assets
Interest rate swaps$43,506 $— $43,506 $— $— $43,506 
$43,506 $— $43,506 $— $— $43,506 
Derivative liabilities
Interest rate swaps$43,653 $(19,726)$23,927 $— $(23,730)$197 
$43,653 $(19,726)$23,927 $— $(23,730)$197 
December 31, 2019
Gross Amounts of Financial Instruments Not Offset in the Consolidated Statements of Financial Condition
Gross Amounts RecognizedAmounts offset
in the Statement
of Financial Condition		Net Amounts
in the Statement
of Financial Condition		Netting Adjustment Per Applicable Master Netting AgreementsFair 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)