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DERIVATIVES AND HEDGING DERIVATIVES AND HEDGING (Tables)
 12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of December 31, 2013 and December 31, 2012, 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, 2013
 
December 31, 2012
 
December 31, 2013
 
December 31, 2012
 
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
$
7,420

 
$
1,295

 
$
10,507

 
$
2,163

 
$
7,420

 
$
1,295

 
$
10,507

 
$
2,163


(1) 
Included in Loans Receivable on the Consolidated Statement of Financial Condition.
(2) 
Included in Other Liabilities on the Consolidated Statement of Financial Condition.
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
As of December 31, 2013 and December 31, 2012, 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, 2013
 
December 31, 2012
 
December 31, 2013
 
December 31, 2012
 
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
$
135,122

 
$
3,651

 
$
100,447

 
$
6,190

 
$
135,122

 
$
3,651

 
$
100,447

 
$
6,190

Mortgage loan commitments
14,107

 
57

 
45,363

 
436

 
7,326

 
43

 
43,686

 
74

Forward sales contracts
22,526

 
73

 
43,686

 
74

 
—

 
—

 
41,500

 
121

 
$
171,755

 
$
3,781

 
$
189,496

 
$
6,700

 
$
142,448

 
$
3,694

 
$
185,633

 
$
6,385


(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 $791,000 at December 31, 2013 and $1.1 million at December 31, 2012), 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, 2013 and 2012 were as follows (in thousands):
 
 
 
For the Year Ended December 31
 
Location on Income Statement
 
2013

 
2012

Mortgage loan commitments
Mortgage banking operations
 
$
(174
)
 
$
205

Forward sales contracts
Mortgage banking operations
 
310

 
160

 
 
 
$
136

 
$
365
Offsetting Assets and Liabilities
The following table illustrates 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 December 31, 2013 and December 31, 2012 (in thousands):
 
December 31, 2013
 
 
 
 
 
 
 
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
 
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
$
4,946

 
$
—

 
$
4,946

 
$
(554
)
 
$
—

 
$
4,392

 
$
4,946

 
$
—

 
$
4,946

 
$
(554
)
 
$
—

 
$
4,392

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
4,946

 
$
—

 
$
4,946

 
$
(554
)
 
$
(2,657
)
 
$
1,735

 
$
4,946

 
$
—

 
$
4,946

 
$
(554
)
 
$
(2,657
)
 
$
1,735

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
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
 
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
$
8,353

 
$
—

 
$
8,353

 
$
—

 
$
—

 
$
8,353

 
$
8,353

 
$
—

 
$
8,353

 
$
—

 
$
—

 
$
8,353

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
8,353

 
$
—

 
$
8,353

 
$
—

 
$
(8,353
)
 
$
—

 
$
8,353

 
$
—

 
$
8,353

 
$
—

 
$
(8,353
)
 
$
—