Dime Community Bancshares 10-Q 7 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 07, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	DIME COMMUNITY BANCSHARES INC
Entity Central Index Key	1,005,409
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		37,446,742
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Cash and due from banks	$ 110,044	$ 113,503
Investment securities held-to-maturity (estimated fair value of $8,385 and $7,296 at June 30, 2017 and December 31, 2016, respectively) (Fully unencumbered)	5,315	5,378
Investment securities available-for-sale, at fair value (Fully unencumbered)	4,049	3,895
Mortgage-backed securities ("MBS") available-for-sale, at fair value (Fully unencumbered)	3,496	3,558
Trading Securities	2,687	6,953
Loans:
Real estate, net	5,806,933	5,633,007
Commercial and industrial ("C&I") loans	68,199	2,058
Other loans	1,749	1,357
Less allowance for loan losses	(21,985)	(20,536)
Total loans, net	5,854,896	5,615,886
Premises and fixed assets, net	22,315	18,405
Premises held for sale	1,379	1,379
Federal Home Loan Bank of New York ("FHLBNY") capital stock	50,961	44,444
Bank Owned Life Insurance ("BOLI")	87,424	86,328
Goodwill	55,638	55,638
Other assets	59,980	50,063
Total Assets	6,258,184	6,005,430
Due to depositors:
Interest bearing deposits	4,105,129	4,097,992
Non-interest bearing deposits	313,351	297,434
Total deposits	4,418,480	4,395,426
Escrow and other deposits	91,196	103,001
FHLBNY advances	944,575	831,125
Subordinated notes payable	113,545	0
Trust Preferred securities payable	70,680	70,680
Other liabilities	39,260	39,330
Total Liabilities	5,677,736	5,439,562
Stockholders' Equity:
Preferred stock ($0.01 par, 9,000,000 shares authorized, none issued or outstanding at June 30, 2017 and December 31, 2016)	0	0
Common stock ($0.01 par, 125,000,000 shares authorized, 53,614,924 shares and 53,572,745 shares issued at June 30, 2017 and December 31, 2016, respectively, and 37,675,379 shares and 37,455,853 shares outstanding at June 30, 2017 and December 31, 2016, respectively)	536	536
Additional paid-in capital	280,453	278,356
Retained earnings	516,165	503,539
Accumulated other comprehensive loss, net of deferred taxes	(5,647)	(5,939)
Unearned stock award common stock	(4,433)	(1,932)
Holding Company common stock held by Benefit Maintenance Plan ("BMP")	(7,029)	(6,859)
Treasury stock, at cost (15,939,545 shares and 16,116,892 shares at June 30, 2017 and December 31, 2016, respectively)	(199,597)	(201,833)
Total Stockholders' Equity	580,448	565,868
Total Liabilities And Stockholders' Equity	$ 6,258,184	$ 6,005,430

CONSOLIDATED STATEMENTS OF FIN3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Investment securities held to maturity, fair value	$ 8,385	$ 7,296
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	9,000,000	9,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	53,614,924	53,572,745
Common stock, shares outstanding (in shares)	37,675,379	37,455,853
Treasury stock (in shares)	15,939,545	16,116,892

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest income:
Loans secured by real estate	$ 51,137	$ 47,358	$ 101,612	$ 93,009
C&I loans	474	6	515	11
Other loans	18	18	36	37
MBS	14	2	28	4
Investment securities	164	265	354	438
Other short-term investments	611	721	1,328	1,382
Total interest income	52,418	48,370	103,873	94,881
Interest expense:
Deposits and escrow	9,509	7,597	19,016	14,391
Borrowed funds	4,856	5,163	9,317	10,249
Total interest expense	14,365	12,760	28,333	24,640
Net interest income	38,053	35,610	75,540	70,241
Provision for loan losses	1,047	442	1,497	421
Net interest income after provision for loan losses	37,006	35,168	74,043	69,820
Non-interest income:
Service charges and other fees	919	758	1,713	1,443
Net mortgage banking income	65	27	81	55
Net gain on securities and other assets	59	33	134	79
Net (loss) gain on the sale of premises held for sale	0	(4)	0	68,183
Income from BOLI	551	1,043	1,096	1,603
Other	153	448	501	683
Total non-interest income	1,747	2,305	3,525	72,046
Non-interest expense:
Salaries and employee benefits	9,341	9,532	19,661	19,240
Occupancy and equipment	3,500	3,115	7,128	5,742
Data processing costs	1,503	1,256	3,110	2,451
Marketing	1,466	1,178	2,932	2,355
Federal deposit insurance premiums	712	581	1,367	1,320
Other	2,947	2,430	6,040	4,853
Total non-interest expense	19,469	18,092	40,238	35,961
Income before income taxes	19,284	19,381	37,330	105,905
Income tax expense	7,295	8,173	14,184	44,660
Net income	$ 11,989	$ 11,208	$ 23,146	$ 61,245
Earnings per Share:
Basic (in dollars per share)	$ 0.32	$ 0.30	$ 0.62	$ 1.67
Diluted (in dollars per share)	$ 0.32	$ 0.30	$ 0.61	$ 1.67

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Net Income	$ 11,989	$ 11,208	$ 23,146	$ 61,245
Other comprehensive income:
Change in unrealized holding loss on securities held-to-maturity and transferred securities	30	22	64	41
Change in unrealized holding loss on securities available-for-sale	104	47	224	62
Change in pension and other postretirement obligations	355	425	657	850
Change in unrealized gain on derivatives	(733)	(957)	(418)	(957)
Other comprehensive gain before income taxes	(244)	(463)	527	(4)
Deferred tax expense (benefit)	(111)	(209)	235	(2)
Other comprehensive income (loss), net of tax	(133)	(254)	292	(2)
Total comprehensive income	$ 11,856	$ 10,954	$ 23,438	$ 61,243

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss, Net of Deferred Taxes [Member]	Unallocated Common Stock of ESOP [Member]	Unearned Stock Award Common Stock [Member]	Common Stock Held by BMP [Member]	Treasury Stock, at Cost [Member]	Total
Balance at Dec. 31, 2015	$ 533	$ 262,798	$ 451,606	$ (8,801)	$ (2,313)	$ (2,271)	$ (9,354)	$ (198,251)	$ 493,947
Balance (in shares) at Dec. 31, 2015	37,371,992
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	$ 0	0	61,245	0	0	0	0	0	61,245
Other comprehensive income (loss), net of tax	0	0	0	(2)	0	0	0	0	(2)
Exercise of stock options	$ 2	2,898	0	0	0	0	0	0	2,900
Exercise of stock options (in shares)	193,828
Release of shares, net of forfeitures	$ 0	727	0	0	0	(1,311)	(222)	1,105	299
Release of shares, net of forfeitures (in shares)	88,951
Stock-based compensation	$ 0	561	0	0	115	828	0	0	1,504
Cash dividends declared and paid	0	0	(10,282)	0	0	0	0	0	(10,282)
Balance at Jun. 30, 2016	$ 535	266,984	502,569	(8,803)	(2,198)	(2,754)	(9,576)	(197,146)	549,611
Balance (in shares) at Jun. 30, 2016	37,654,771
Balance at Dec. 31, 2016	$ 536	278,356	503,539	(5,939)	0	(1,932)	(6,859)	(201,833)	565,868
Balance (in shares) at Dec. 31, 2016	37,455,853
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	$ 0	0	23,146	0	0	0	0	0	23,146
Other comprehensive income (loss), net of tax	0	0	0	292	0	0	0	0	292
Exercise of stock options	$ 0	626	0	0	0	0	0	0	626
Exercise of stock options (in shares)	42,179
Release of shares, net of forfeitures	$ 0	1,471	0	0	0	(3,339)	(170)	2,236	198
Release of shares, net of forfeitures (in shares)	177,347
Stock-based compensation	$ 0	0	0	0	0	838	0	0	838
Cash dividends declared and paid	0	0	(10,520)	0	0	0	0	0	(10,520)
Balance at Jun. 30, 2017	$ 536	$ 280,453	$ 516,165	$ (5,647)	$ 0	$ (4,433)	$ (7,029)	$ (199,597)	$ 580,448
Balance (in shares) at Jun. 30, 2017	37,675,379

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 23,146	$ 61,245
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain recognized on trading securities	(134)	(39)
Net gain on the sale of other real estate owned ("OREO")	0	(40)
Net gain on sale of premises held for sale	0	(68,183)
Net depreciation, amortization and accretion	1,836	1,086
Stock plan compensation [excluding Employee Stock Ownership Plan ("ESOP")]	838	943
ESOP compensation expense	0	561
Provision for loan losses	1,497	421
Increase in cash surrender value of BOLI	(1,096)	(1,119)
Income recognized from mortality benefit on BOLI	0	(484)
Deferred income tax provision	6	615
Reduction in credit related other than temporary impairment ("OTTI") amortized through interest income	(52)	(52)
Excess tax benefit from stock benefit plans	0	(142)
Changes in assets and liabilities:
Increase in other assets	(10,488)	(4,094)
Increase in other liabilities	499	6,038
Net cash provided by (used in) Operating activities	16,052	(3,244)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of investment securities available-for-sale	101	0
Purchases of investment securities available-for-sale	(37)	(19)
Proceeds from the sales of trading securities	4,544	3,648
Purchases of trading securities	(144)	(222)
Proceeds from calls and principal repayments of MBS available-for-sale	28	25
Proceeds from the sale of loans	393	0
Purchases of loans	0	(152,637)
Loans originated, net of repayments	(240,900)	(359,730)
Proceeds from sale of OREO	0	170
Proceeds from surrender of cash surrender value of BOLI	0	1,425
Net proceeds from the sale of premises held for sale	0	75,899
Net purchases of fixed assets	(5,527)	(16)
Redemption of FHLBNY capital stock, net	(6,517)	5,899
Net cash used in Investing Activities	(248,059)	(425,558)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in due to depositors	23,054	595,956
Increase (decrease) in escrow and other deposits	(11,805)	15,160
Repayments of FHLBNY advances	(1,359,500)	(2,402,500)
Proceeds from FHLBNY advances	1,472,950	2,252,900
Proceeds from exercise of stock options	626	2,900
Excess tax benefit from stock benefit plans	0	142
Release of stock for benefit plan awards	198	299
Cash dividends paid to stockholders	(10,520)	(10,282)
Proceeds from Subordinated debt issuance, net	113,545	0
Net cash provided by Financing Activities	228,548	454,575
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(3,459)	25,773
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	113,503	64,154
CASH AND CASH EQUIVALENTS, END OF PERIOD	110,044	89,927
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	20,912	29,100
Cash paid for interest	28,124	11,770
Transfer of premises to held for sale	0	1,379
Amortization of unrealized loss on securities transferred from available-for-sale to held-to-maturity	47	25
Net decrease in non-credit component of OTTI	$ 17	$ 16

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2017
NATURE OF OPERATIONS [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Dime Community Bancshares (the “Company”), is a Delaware corporation headquartered in the Brooklyn Heights neighborhood of Brooklyn, New York. The Company was organized in 1996 and is registered as a savings and loan holding company with the Board of Governors of the Federal Reserve System pursuant to section 10(l) of the Home Owners’ Loan Act, as amended. As of June 30, 2017, t The Company engages in commercial banking and financial services through its wholly-owned banking subsidiary, Dime Community Bank. In 2004, the Company formed Dime Community Capital Trust I as a subsidiary, which issued $72.2 million of 7.0% trust preferred securities, $70.7 million of which remained outstanding at June 30, 2017. The Company’s common stock is traded on the Nasdaq Global Market under the symbol “DCOM.” Dime Community Bank, a New York-chartered stock savings bank formerly known as The Dime Savings Bank of Williamsburgh, was founded in 1864 and operates 27 full service retail banking offices located in the New York City boroughs of Brooklyn, Queens, and the Bronx, and in Nassau County, New York. The Bank’s principal business is gathering deposits from customers within its market area and via the internet, and investing them primarily in multifamily residential, commercial real estate, mixed use, and, to a lesser extent, commercial and industrial (“C&I”) loans, mortgage-backed securities, obligations of the U.S. government and government sponsored enterprises, and corporate debt and equity securities. The substantial majority of the Bank’s lending occurs in the greater New York City metropolitan area. The Bank has four active subsidiaries, including two real estate investment trusts that hold one- to four-family and multifamily residential and commercial real estate loans; Dime Insurance Agency, which engages in general insurance agency activities; and Boulevard Funding Corporation, which holds and manages real estate.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
SUMMARY OF ACCOUNTING POLICIES [Abstract]
SUMMARY OF ACCOUNTING POLICIES	2. SUMMARY OF ACCOUNTING POLICIES In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair presentation of the Company's financial condition as of June 30, 2017 and December 31, 2016, the results of operations and statements of comprehensive income for the three-month and six-month periods ended June 30, 2017 and 2016, and the changes in stockholders' equity and cash flows for the six-month periods ended June 30, 2017 and 2016. The results of operations for the three-month and six-month period ended June 30, 2017 are not necessarily indicative of the results of operations for the remainder of the year ending December 31, 2017. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted pursuant to the rules and regulations of the U. S. Securities and Exchange Commission ("SEC'). The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Please see "Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited condensed consolidated financial statements utilizing significant estimates. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2016 and notes thereto.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2017
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	3. RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) e.g., Revenue from Contracts with Customers (Topic 606): Principal Versus Agent Consideration - Reporting Revenue Gross Versus Net In January 2016, the FASB issued ASU 2016-01, an amendment to Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2017
OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	4. OTHER COMPREHENSIVE INCOME (LOSS) Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Securities Held- to-Maturity and Transferred Securities Securities Available-for- Sale Defined Benefit Plans Derivative Asset Total Accumulated Other Comprehensive Gain (Loss) Balance as of January 1, 2017 $ (713 ) $ (92 ) $ (6,910 ) $ 1,776 $ (5,939 ) Other comprehensive income before reclassifications 36 125 (7 ) (331 ) (177 ) Amounts reclassified from accumulated other comprehensive loss - - 372 97 469 Net other comprehensive income during the period 36 125 365 (234 ) 292 Balance as of June 30, 2017 $ (677 ) $ 33 $ (6,545 ) $ 1,542 $ (5,647 ) Balance as of January 1, 2016 $ (760 ) $ (122 ) $ (7,919 ) $ - $ (8,801 ) Other comprehensive income before reclassifications 22 34 - (526 ) (470 ) Amounts reclassified from accumulated other comprehensive loss - - 468 - 468 Net other comprehensive income during the period 22 34 468 (526 ) (2 ) Balance as of June 30, 2016 $ (738 ) $ (88 ) $ (7,451 ) $ (526 ) $ (8,803 ) The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below. Reclassification adjustments related to securities available-for-sale are included in the line entitled net gain (loss) on securities and other assets Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Change in unrealized holding loss on securities held-to-maturity and transferred securities: Accretion of previously recognized non-credit component of OTTI $ 8 $ 8 $ 17 $ 16 Change in unrealized loss on securities transferred to held-to-maturity 22 14 47 25 Net change 30 22 64 41 Tax expense 12 10 28 19 Net change in unrealized holding loss on securities held-to-maturity and transferred securities 18 12 36 22 Change in unrealized holding gain on securities available-for-sale: Change in net unrealized gain during the period 104 47 224 62 Tax expense 44 21 99 28 Net change in unrealized holding gain on securities available-for-sale 60 26 125 34 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in salaries and employee benefits expense 355 425 657 850 Tax expense 161 191 292 382 Net change in pension and other postretirement obligations 194 234 365 468 Change in unrealized loss on derivative liability: Change in net unrealized loss during the period (825 ) (998 ) (597 ) (998 ) Reclassification adjustment for expense included in interest expense 92 41 179 41 Net change (733 ) (957 ) (418 ) (957 ) Tax benefit (328 ) (431 ) (184 ) (431 ) Net change in unrealized loss on derivative liability (405 ) (526 ) (234 ) (526 ) Other comprehensive income (loss) $ (133 ) $ (254 ) $ 292 $ (2 )

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE ("EPS") [Abstract]
EARNINGS PER SHARE ("EPS")	5. EARNINGS PER SHARE ("EPS") Basic EPS is computed by dividing net income by the weighted-average common shares outstanding during the reporting period. Diluted EPS is computed using the same method as basic EPS, but reflects the potential dilution that would occur if "in the money" stock options were exercised and converted into common stock, and likely aggregate Long-term Incentive Plan (“LTIP”) share payout. In determining the weighted average shares outstanding for basic and diluted EPS, treasury shares, and (until the period ended September 30, 2016) unallocated ESOP shares, are excluded. Vested restricted stock award (“RSA”) shares are included in the calculation of the weighted average shares outstanding for basic and diluted EPS. Unvested RSA shares and LTIP shares not yet awarded are recognized as a special class of participating securities under ASC 260. The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income per the Consolidated Statements of Income $ 11,989 $ 11,208 $ 23,146 $ 61,245 Less: Dividends paid and earnings allocated to participating securities (38 ) (24 ) (63 ) (55 ) Income attributable to common stock $ 11,951 $ 11,184 $ 23,083 $ 61,190 Weighted average common shares outstanding, including participating securities 37,733,956 36,946,082 37,670,585 36,874,535 Less: weighted average participating securities (179,346 ) (192,525 ) (166,398 ) (202,885 ) Weighted average common shares outstanding 37,554,610 36,753,557 37,504,187 36,671,650 Basic EPS $ 0.32 $ 0.30 $ 0.62 $ 1.67 Income attributable to common stock $ 11,951 $ 11,184 $ 23,083 $ 61,190 Weighted average common shares outstanding 37,554,610 36,753,557 37,504,187 36,671,650 Weighted average common equivalent shares outstanding 81,188 65,028 86,011 69,420 Weighted average common and equivalent shares outstanding 37,635,798 36,818,585 37,590,198 36,741,070 Diluted EPS $ 0.32 $ 0.30 $ 0.61 $ 1.67 Common and equivalent shares resulting from the dilutive effect of "in-the-money" outstanding stock options are calculated based upon the excess of the average market value of the common stock over the exercise price of outstanding in-the-money There were no “out-of-the-money” stock options during the three-month or six-month periods ended June 30, 2017. There were 80,000 weighted-average stock options outstanding for the three-month and six-month periods ended June 30, 2016 which were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period. For information about the calculation of likely aggregate LTIP share payout, see Note 6.

ACCOUNTING FOR STOCK BASED COMP

ACCOUNTING FOR STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2017
ACCOUNTING FOR STOCK BASED COMPENSATION [Abstract]
ACCOUNTING FOR STOCK BASED COMPENSATION	6. ACCOUNTING FOR STOCK BASED COMPENSATION The Company maintains the Dime Community Bancshares, Inc. 2001 Stock Option Plan for Outside Directors, Officers and Employees, the 2004 Stock Incentive Plan and the 2013 Equity and Incentive Plan (“2013 Equity Plan”) (collectively, the "Stock Plans"), which are discussed more fully in Note 15 to the Company's audited consolidated financial statements for the year ended December 31, 2016, and which are subject to the accounting requirements of ASC 505-50 and ASC 718. Stock Option Awards The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the six-month period then ended: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Years Aggregate Intrinsic Value Options outstanding at January 1, 2017 209,254 $ 15.48 Options granted - - Options exercised (42,179 ) 14.87 Options outstanding at June 30, 2017 167,075 $ 15.64 2.1 $ 662 Options vested and exercisable at June 30, 2017 167,075 $ 15.64 2.1 $ 662 Information related to stock options during each period is as follows: At or for the Three Months Ended June 30, At or for the Six Months Ended June 30, 2017 2016 2017 2016 Cash received for option exercise cost $ 2 $ 2,900 $ 626 $ 2,900 Income tax benefit recognized on stock option exercises (1) - 64 69 64 Intrinsic value of options exercised 1 732 276 732 (1) Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital. There were no grants of stock options during the three-month or six-month periods ended June 30, 2017 or 2016. All stock options are fully vested at both June 30, 2017 and 2016. Restricted Stock Awards The Company has made RSA grants to outside Directors and certain officers under the 2004 Stock Incentive Plan or 2013 Equity and Incentive Plan. Typically, awards to outside Directors fully vest on the first anniversary of the grant date, while awards to officers may vest in equal annual installments over a four-year period or at the end of the four-year requisite period. The following table presents a summary of activity related to the RSAs granted, and changes during the three-month period then ended: Number of Shares Weighted-Average Grant-Date Fair Value Unvested allocated shares outstanding at January 1, 2017 152,409 $ 16.56 Shares granted 121,857 19.60 Shares vested (82,520 ) 16.34 Shares forfeited (16,448 ) 17.24 Unvested allocated shares at June 30, 2017 175,298 $ 18.71 All awards were made at the fair value of the Holding Company’s common stock ( i.e. Information related to RSAs during each period is as follows: At or for the Three Months Ended June 30, At or for the Six Months Ended June 30, 2017 2016 2017 2016 Compensation expense recognized $ 370 $ 390 $ 666 $ 828 Income tax benefit recognized on vesting of RSA (1) 114 77 116 78 (1) Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital. As of June 30, 2017, unrecognized compensation cost relating to unvested restricted shares totaled $2,998. This amount will be recognized over a remaining weighted average period of 2.89 years. Performance Based Equity Awards The Company established the LTIP, a long term incentive award program for certain officers, that meets the criteria for equity-based accounting. For each award, threshold (50% of target), target (100% of target) and maximum (150% of target) opportunities are eligible to be earned over a three-year performance period based on the Company's relative performance on certain goals that were established at the onset of the performance period and cannot be altered subsequently. Shares of the Holding Company’s common stock are issued on the grant date and held as unvested stock awards until the end of the performance period. They are issued at the maximum opportunity in order to ensure that an adequate number of shares are allocated for shares expected to vest at the end of the performance period. The following table presents a summary of activity related to performance based equity awards, and changes during the three-month period then ended: Number of Shares Weighted-Average Grant-Date Fair Value Maximum aggregate share payout at January 1, 2017 24,730 $ 17.35 Shares granted 71,976 19.75 Shares forfeited (10,010 ) 18.73 Maximum aggregate share payout at June 30, 2017 86,696 $ 19.18 Minimum aggregate share payout - - Likely aggregate share payout 49,974 $ 19.47 Compensation expense recorded for performance based equity awards was $76 and $21 for the three-month periods ended June 30, 2017 and 2016, respectively. Compensation expense recorded for performance based equity awards was $172 and $48 for the six-month periods ended June 30, 2017 and 2016, respectively.

LOANS RECEIVABLE AND CREDIT QUA

LOANS RECEIVABLE AND CREDIT QUALITY	6 Months Ended
	Jun. 30, 2017
LOANS RECEIVABLE AND CREDIT QUALITY [Abstract]
LOANS RECEIVABLE AND CREDIT QUALITY	7. LOANS RECEIVABLE AND CREDIT QUALITY Loans are reported at the principal amount outstanding, net of unearned fees or costs and the allowance for loan losses. Interest income on loans is recorded using the level yield method. Under this method, discount accretion and premium amortization are included in interest income. Loan origination fees and certain direct loan origination costs are deferred and amortized as yield adjustments over the contractual loan terms. Credit Quality Indicators: On a quarterly basis, the Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying them as to credit risk. This analysis includes all loans, such as multifamily residential, mixed use residential ( i.e., i.e. The Company uses the following definitions for risk ratings: Special Mention. Substandard. Doubtful. The Bank had no loans classified as doubtful as of June 30, 2017 or December 31, 2016. All real estate and C&I loans not classified as Special Mention or Substandard were deemed pass loans at both June 30, 2017 and December 31, 2016. The following is a summary of the credit risk profile of real estate and C&I loans (including deferred costs) by internally assigned grade as of the dates indicated: Balance at June 30, 2017 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 69,688 $ 182 $ 1,112 $ - $ 70,982 Multifamily residential and residential mixed use 4,747,233 3,432 5,515 - 4,756,180 Commercial mixed use real estate 399,960 - 4,966 - 404,926 Commercial real estate 563,513 864 6,468 - 570,845 ADC 4,000 - - - 4,000 Total real estate 5,784,394 4,478 18,061 - 5,806,933 C&I 68,199 - - - 68,199 Total $ 5,852,593 $ 4,478 $ 18,061 $ - $ 5,875,132 Balance at December 31, 2016 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 72,325 $ 212 $ 1,485 $ - $ 74,022 Multifamily residential and residential mixed use 4,589,838 3,488 7,200 - 4,600,526 Commercial mixed use real estate 398,139 535 5,465 - 404,139 Commercial real estate 546,568 525 7,227 - 554,320 Total Real Estate $ 5,606,870 $ 4,760 $ 21,377 $ - $ 5,633,007 For consumer loans, the Company evaluates credit quality based on payment activity. Consumer loans that are 90 days or more past due are placed on non-accrual status, while all remaining consumer loans are classified and evaluated as performing. The following is a summary of the credit risk profile of consumer loans by internally assigned grade: Grade Balance at June 30, 2017 Balance at December 31, 2016 (1) Performing $ 1,748 $ 3,414 Non-accrual 1 1 Total $ 1,749 $ 3,415 (1) Included in the balance of consumer loans at December 31, 2016 are $2,058 of C&I loans. Subsequent to December 31, 2016, C&I loans were evaluated based on risk ratings and included in the preceding credit risk profile table. The following is a breakdown of the past due status of the Company's investment in loans (excluding accrued interest) as of the dates indicated: At June 30, 2017 30 to 59 Days Past Due 60 to 89 Days Past Due Loans 90 Days or More Past Due and Still Accruing Interest Non-accrual (1) Total Past Due Current Total Loans Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 84 $ 74 $ 373 $ 654 $ 1,185 $ 69,797 $ 70,982 Multifamily residential and residential mixed use - - 98 2,618 2,716 4,753,464 4,756,180 Commercial mixed use real estate - - 793 101 894 404,032 404,926 Commercial real estate 1,713 - - - 1,713 569,132 570,845 ADC - - - - - 4,000 4,000 Total real estate $ 1,797 $ 74 $ 1,264 $ 3,373 $ 6,508 $ 5,800,425 $ 5,806,933 C&I $ - $ - $ - $ - $ - $ 68,199 $ 68,199 Consumer $ 2 $ - $ - $ 1 $ 3 $ 1,746 $ 1,749 (1) At December 31, 2016 30 to 59 Days Past Due 60 to 89 Days Past Due Loans 90 Days or More Past Due and Still Accruing Interest Non-accrual (1) Total Past Due Current Total Loans Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 188 $ - $ 1,513 $ 1,012 $ 2,712 $ 71,309 $ 74,022 Multifamily residential and residential mixed use - - 1,557 2,675 4,232 4,596,294 4,600,526 Commercial mixed use real estate - - - 549 549 403,590 404,139 Commercial real estate 1,732 - - - 1,732 552,588 554,320 Total real estate $ 1,920 $ - $ 3,070 $ 4,236 $ 9,226 $ 5,623,781 $ 5,633,007 C&I $ - $ - $ - $ - $ - $ 2,058 $ 2,058 Consumer $ - $ - $ - $ 1 $ 1 $ 1,356 $ 1,357 (1) Accruing Loans 90 Days or More Past Due The Bank continued accruing interest on five real estate loans with an aggregate outstanding balance of $1,265 at June 30, 2017, and four real estate loans with an aggregate outstanding balance of $3,070 at December 31, 2016, all of which were 90 days or more past due on their respective contractual maturity dates. These loans continued to make monthly payments consistent with their initial contractual amortization schedule exclusive of the balloon payments due at maturity. These loans were well secured and were expected to be refinanced, and, therefore, remained on accrual status and were deemed performing assets at the dates indicated above. Troubled Debt Restructurings ("TDRs") The following table summarizes outstanding TDRs by underlying collateral types as of the dates indicated: As of June 30, 2017 As of December 31, 2016 No. of Loans Balance No. of Loans Balance One-to-four family residential, including condominium and cooperative apartment 2 $ 399 2 $ 407 Multifamily residential and residential mixed use 3 639 3 658 Commercial mixed use real estate 1 4,218 1 4,261 Commercial real estate 1 3,330 1 3,363 Total real estate 7 $ 8,586 7 $ 8,689 Accrual status for TDRs is determined separately for each TDR in accordance with the Bank’s policies for determining accrual or non-accrual status. At the time an agreement is entered into between the Bank and the borrower that results in the Bank's determination that a TDR has been created, the loan can be on either accrual or non-accrual status. If a loan is on non-accrual status at the time it is restructured, it continues to be classified as non-accrual until the borrower has demonstrated compliance with the modified loan terms for a period of at least six months. Conversely, if at the time of restructuring the loan is performing (and accruing), it will remain accruing throughout its restructured period, unless the loan subsequently meets any of the criteria for non-accrual status under the Bank’s policy and agency regulations. There were no TDRs on non-accrual status at June 30, 2017 or December 31, 2016. The Company has not restructured troubled consumer loans, as its consumer loan portfolio has not experienced any problem issues warranting restructuring. Therefore, all TDRs were collateralized by real estate at both June 30, 2017 and December 31, 2016. There were no loans modified in a manner that met the criteria of a TDR during the three-month or six-month periods ended June 30, 2017. The Company modified one one-to-four family residential loan in a manner that met the criteria of a TDR during the three-month and six-month periods ended June 30, 2016. The Bank's allowance for loan losses at June 30, 2017 and December 31, 2016 did not reflect any allocated reserve associated with TDRs. As of June 30, 2017 and December 31, 2016, the Bank had no loan commitments to borrowers with outstanding TDRs. A TDR is considered to be in payment default once it is 90 days contractually past due under the modified terms. All TDRs are considered impaired loans and are evaluated individually for measurable impairment, if any. There were no TDRs which defaulted within twelve months following the modification during the three-month or six-month periods ended June 30, 2017 or 2016 (thus no impact to the allowance for loan losses during those periods). Impaired Loans A loan is considered impaired when, based on then current information and events, it is probable that all contractual amounts due will not be collected in accordance with the terms of the loan. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays or shortfalls generally are not classified as impaired. Management determines the significance of payment delays and shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Bank considers TDRs and non-accrual multifamily residential, commercial real estate, and C&I loans, along with non-accrual one-to-four family loans in excess of the FNMA Limits, to be impaired. Non-accrual one-to-four family loans equal to or less than the FNMA Limits, as well as all consumer loans, are considered homogeneous loan pools and are not required to be evaluated individually for impairment unless considered a TDR. Impairment is typically measured using the difference between the outstanding loan principal balance and either: 1) the likely realizable value of a note sale; 2) the fair value of the underlying collateral, net of likely disposal costs, if repayment is expected to come from liquidation of the collateral; or 3) the present value of estimated future cash flows (using the loan’s pre-modification rate for some of the performing TDRs). If a TDR is substantially performing in accordance with its restructured terms, management will look to either the potential net liquidation proceeds of the underlying collateral or the present value of the expected cash flows from the debt service in measuring impairment (whichever is deemed most appropriate under the circumstances). If a TDR has re-defaulted, generally the likely realizable net proceeds from either a note sale or the liquidation of the collateral is considered when measuring impairment. Measured impairment is either charged off immediately or, in limited instances, recognized as an allocated reserve within the allowance for loan losses. Please refer to Note 8 for tabular information related to impaired loans.

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2017
ALLOWANCE FOR LOAN LOSSES [Abstract]
ALLOWANCE FOR LOAN LOSSES	8. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses may consist of specific and general components. At June 30, 2017, the Bank’s periodic evaluation of its allowance for loan losses (specific or general) was comprised of two primary components: (1) impaired loans and (2) pass graded loans. Within these components, the Company has identified the following portfolio segments for purposes of assessing its allowance for loan losses: (1) real estate loans; (2) C&I loans; and (3) consumer loans. Within these segments, the Bank analyzes the allowance for loan losses based upon the underlying collateral type (classes). Due to their small homogeneous balances, consumer loans were not individually evaluated for impairment as of either June 30, 2017 or December 31, 2016. Impaired Loan Component All multifamily residential, mixed use, commercial real estate, ADC and C&I loans that are deemed to meet the definition of impaired are individually evaluated for impairment. In addition, all condominium or cooperative apartment and one-to-four family residential real estate loans in excess of the FNMA Limits are individually evaluated for impairment. Impairment is typically measured using the difference between the outstanding loan principal balance and either: (1) the likely realizable value of a note sale; (2) the fair value of the underlying collateral, net of likely disposal costs, if repayment is expected to come from liquidation of the collateral; or (3) the present value of estimated future cash flows (using the loan's pre-modification rate in the case of some performing TDRs). For impaired loans on non-accrual status, either of the initial two measurements is utilized. All TDRs are considered impaired loans and are evaluated individually for measurable impairment, if any. If a TDR is substantially performing in accordance with its restructured terms, management will look to either the present value of the expected cash flows from the debt service or the potential net liquidation proceeds of the underlying collateral in measuring impairment (whichever is deemed most appropriate under the circumstances). If a TDR has re-defaulted, the likely realizable net proceeds from either a note sale or the liquidation of the collateral are generally considered when measuring impairment. While measured impairment is generally charged off immediately, impairment attributed to a reduction in the present value of expected cash flows of a performing TDR is generally reflected as an allocated reserve within the allowance for loan losses. At June 30, 2017 and December 31, 2016, there were no allocated reserves related to TDRs within the allowance for loan losses. Smaller balance homogeneous real estate loans, such as condominium or cooperative apartment and one-to four-family residential real estate loans with balances equal to or less than the FNMA Limits, are collectively evaluated for impairment, and accordingly, are not separately identified for impairment disclosures. Non-Impaired Loan Component During the three month period ended June 30, 2016, the Bank refined the calculation of the allowance for loan losses associated with non-impaired loans using third party software purchased by the Bank. The software model is substantially similar to the previous model used by the Bank whereby the primary drivers of the calculation are historical charge-offs by loan type and certain qualitative elements. The historical loss look-back period for Substandard and Special Mention non-impaired loans was expanded from the previous twelve month period to a forty-eight month period, which is aligned with the same historical loss look-back period used for all Pass-graded loans. Management has evaluated the impact of these changes and concluded that they are not material to the overall allowance for non-impaired loans. The Bank initially looks to the underlying collateral type when determining the allowance for loan losses associated with non-impaired real estate loans. The following underlying collateral types are analyzed separately: 1) one-to-four family residential and condominium or cooperative apartment; 2) multifamily residential and residential mixed use; 3) commercial mixed use real estate, 4) commercial real estate; 5) ADC; and 6) C&I. Within the analysis of each underlying collateral type, the following elements are additionally considered and provided weighting in determining the allowance for loan losses for non-impaired real estate loans: (i) Charge-off experience (including peer charge-off experience) (ii) Economic conditions (iii) Underwriting standards or experience (iv) Loan concentrations (v) Regulatory climate (vi) Nature and volume of the portfolio (vii) Changes in the quality and scope of the loan review function The following is a brief synopsis of the manner in which each element is considered: (i) Charge-off experience - Loans within the non-impaired loan portfolio are segmented by significant common characteristics, against which historical loss rates are applied to reflect probable incurred loss percentages. The Bank also reviews and considers the charge-off experience of peer banks in its lending marketplace in order to determine whether probable incurred losses that could take a longer period to flow through its allowance for loan losses possibly exist. (ii) Economic conditions - The Bank assigned a loss allocation to its entire non-impaired real estate loan portfolio based, in part, upon a review of economic conditions affecting the local real estate market. Specifically, the Bank considered both the level of, and recent trends in: 1) the local and national unemployment rate, 2) residential and commercial vacancy rates, 3) real estate sales and pricing, and 4) delinquencies in the Bank’s loan portfolio. (iii) Underwriting standards or experience - Underwriting standards are reviewed to ensure that changes in the Bank's lending policies and practices are adequately evaluated for risk and reflected in its analysis of potential credit losses. Loss expectations associated with changes in the Bank’s lending policies and practices, if any, are then incorporated into the methodology. (iv) Loan concentrations - The Bank regularly reviews its loan concentrations (borrower, collateral type and location) in order to ensure that heightened risk has not evolved that has not been captured through other factors. The risk component of loan concentrations is regularly evaluated for reserve adequacy. (v) Regulatory climate – Consideration is given to public statements made by the banking regulatory agencies that have a potential impact on the Bank’s loan portfolio and allowance for loan losses. (vi) Nature and volume of the portfolio – The Bank considers any significant changes in the overall nature and volume of its loan portfolio. (vii) Changes in the quality and scope of the loan review function – The Bank considers the potential impact upon its allowance for loan losses of any adverse change in the quality and scope of the loan review function. All non-impaired Substandard loans were deemed sufficiently well secured and performing to have remained on accrual status both prior and subsequent to their downgrade to the Substandard internal loan grade at June 30, 2017. Consumer Loans Due to their small individual balances, the Bank does not evaluate individual consumer loans for impairment. Loss percentages are applied to aggregate consumer loans based upon both their delinquency status and loan type. These loss percentages are derived from a combination of the Company’s historical loss experience and/or nationally published loss data on such loans. Consumer loans in excess of 120 days delinquent are typically fully charged off against the allowance for loan losses. The following tables present data regarding the allowance for loan losses activity for the periods indicated: At or for the Three Months Ended June 30, 2017 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate C&I Beginning balance $ 129 $ 16,665 $ 1,589 $ 2,099 $ - $ 20,482 $ 453 $ 19 Provision (credit) for loan losses (19 ) 730 (178 ) (65 ) 6 474 570 3 Charge-offs - (23 ) - - - (23 ) - (5 ) Recoveries 12 - - - - 12 - - Ending balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 At or for the Three Months Ended June 30, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate Beginning balance $ 99 $ 14,462 $ 1,552 $ 2,381 $ 18,494 $ 19 Provision (credit) for loan losses 96 407 133 (194 ) 442 - Charge-offs (4 ) (43 ) (1 ) - (48 ) - Recoveries 1 - - - 1 1 Ending balance $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 At or for the Six Months Ended June 30, 2017 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate C&I Beginning balance $ 145 $ 16,555 $ 1,698 $ 2,118 $ - $ 20,516 $ - $ 20 Provision (credit) for loan losses (23 ) 864 (291 ) (84 ) 6 472 1,023 2 Charge-offs (13 ) (92 ) - - - (105 ) - (5 ) Recoveries 13 45 4 - - 62 - - Ending balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 At or for the Six Months Ended June 30, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate Beginning balance $ 263 $ 14,118 $ 1,652 $ 2,461 $ 18,494 $ 20 Provision (credit) for loan losses (46 ) 731 34 (297 ) 422 (1 ) Charge-offs (27 ) (60 ) (2 ) - (89 ) - Recoveries 2 37 - 23 62 1 Ending balance $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment evaluation method as of the periods indicated: At or for the Three Months Ended June 30, 2017 Real Estate Loans C&I Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate Allowance for loan losses: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 122 17,372 1,411 2,034 6 20,945 1,023 17 Total ending allowance balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 Loans: Individually evaluated for impairment $ 399 $ 3,257 $ 4,319 $ 3,330 $ - $ 11,305 $ - $ - Collectively evaluated for impairment 70,583 4,752,923 400,607 567,515 4,000 5,795,628 68,199 1,749 Total ending loans balance $ 70,982 $ 4,756,180 $ 404,926 $ 570,845 $ 4,000 $ 5,806,933 $ 68,199 $ 1,749 At or for the Year Ended December 31, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate C&I Allowance for loan losses: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 145 16,555 1,698 2,118 20,516 - 20 Total ending allowance balance $ 145 $ 16,555 $ 1,698 $ 2,118 $ 20,516 $ - $ 20 Loans: Individually evaluated for impairment $ 407 $ 3,333 $ 4,810 $ 3,363 $ 11,913 $ - $ - Collectively evaluated for impairment 73,615 4,597,193 399,329 550,957 5,621,094 2,058 1,357 Total ending loans balance $ 74,022 $ 4,600,526 $ 404,139 $ 554,320 $ 5,633,007 $ 2,058 $ 1,357 There were no impaired real estate loans with a related allowance recorded for the periods ended June 30, 2017 or December 31, 2016. The following tables summarize impaired real estate loans with no related allowance recorded as of the periods indicated (by collateral type within the real estate loan segment): At June 30, 2017 At December 31, 2016 Unpaid Principal Balance Recorded Investment (1) Related Allowance Unpaid Principal Balance Recorded Investment (1) Related Allowance With no related allowance recorded: One-to-Four Family Residential, Including Condominium and Cooperative Apartment $ 399 $ 399 $ - $ 407 $ 407 $ - Multifamily Residential and Residential Mixed Use 3,257 3,257 - 3,333 3,333 - Commercial Mixed Use Real Estate 4,319 4,319 - 4,810 4,810 - Commercial Real Estate 3,330 3,330 - 3,363 3,363 - Total with no related allowance recorded $ 11,305 $ 11,305 $ - $ 11,913 $ 11,913 $ - (1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality. The following table presents information for impaired loans for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized With no related allowance recorded: One-to-Four Family Residential, Including Condominium and Cooperative Apartment $ 400 $ 7 $ 399 $ 7 $ 402 $ 14 $ 465 $ 41 Multifamily Residential and Residential Mixed Use 3,264 16 2,451 25 3,287 62 1,962 38 Commercial Mixed Use Real Estate 4,527 43 4,367 44 4,622 88 4,360 88 Commercial Real Estate 3,338 33 3,404 34 3,347 67 3,481 68 Ending balance $ 11,529 $ 99 $ 10,621 $ 110 $ 11,658 $ 231 $ 10,268 $ 235 (1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

INVESTMENT AND MORTGAGE-BACKED

INVESTMENT AND MORTGAGE-BACKED SECURITIES	6 Months Ended
	Jun. 30, 2017
INVESTMENT AND MORTGAGE-BACKED SECURITIES [Abstract]
INVESTMENT AND MORTGAGE-BACKED SECURITIES	9. INVESTMENT AND MORTGAGE-BACKED SECURITIES The following tables summarize the major categories of securities owned by the Company (excluding trading securities) for the periods indicated: At June 30, 2017 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities held-to-maturity: Pooled bank trust preferred securities (“TRUP CDOs”) (2) $ 5,315 $ 3,161 $ (91 ) $ 8,385 Investment securities available-for-sale: Registered Mutual Funds 3,944 186 (81 ) 4,049 Pass-through MBS issued by GSEs 333 10 - 343 Agency Collateralized Mortgage Obligation (“CMO”) 3,207 - (54 ) 3,153 Total investment securities available-for-sale 7,484 196 (135 ) 7,545 Total investment securities $ 12,799 $ 3,357 $ (226 ) $ 15,930 (1) (2) At December 31, 2016 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities held-to-maturity: TRUP CDOs $ 5,378 $ 2,221 $ (303 ) $ 7,296 Investment securities available-for-sale: Registered Mutual Funds 4,011 62 (178 ) 3,895 Pass-through MBS issued by GSEs 360 12 - 372 CMO 3,247 - (61 ) 3,186 Total investment securities available-for-sale 7,618 74 (239 ) 7,453 Total investment securities $ 12,996 $ 2,295 $ (542 ) $ 14,749 (1) The held-to-maturity TRUP CDOs had a weighted average term to maturity of 17.5 years at June 30, 2017 At June 30, 2017 June 30, 2017 Gross proceeds from the sales of registered mutual funds totaled $68 and $103 for the three-month and six-month periods ended June 30, 2017, respectively. There were no gains or losses recognized on these sales. There were no sales of registered mutual funds during the three-month or six-month periods ended June 30, 2016. There were no sales of pass-through MBS issued by GSEs during the three-month or six-month periods ended June 30, 2017 or 2016.There were no sales of agency collateralized mortgage obligation securities during the three-month or six-month periods ended June 30, 2017 or 2016. Gross proceeds from the sales of trading securities were $4,544 during the three-month and six-month periods ended June 30, 2017. Gross gains of $63 and gross losses of $25 were recognized on these sales. Gross proceeds from the sales of trading securities were $3,648 during the three-month and six-month periods ended June 30, 2016. Gross gains of $3 and gross losses of $45 were recognized on these sales. The following table summarizes the gross unrealized losses and fair value of investment securities aggregated by investment category and the length of time the securities were in a continuous unrealized loss position for the periods indicated: June 30, 2017 Less than 12 Consecutive Months 12 Consecutive Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities held-to-maturity: TRUP CDOs $ - $ - $ 2,549 $ 91 $ 2,549 $ 91 Investment securities available-for-sale: Registered Mutual Funds 1,099 25 1,595 56 2,694 81 Agency CMO - - 3,153 54 3,153 54 December 31, 2016 Less than 12 Consecutive Months 12 Consecutive Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities held-to-maturity: TRUP CDOs $ - $ - $ 2,439 $ 303 $ 2,439 $ 303 Investment securities available-for-sale: Registered Mutual Funds 1,308 47 1,747 131 3,055 178 Agency CMO 3,186 61 - - 3,186 61 The Company sold its $5,315 of TRUP CDOs in August 2017. The disclosures below are as of, or for the periods ended June 30, 2017 and 2016. TRUP CDOs That Maintained an Unrealized Holding Loss for 12 or More Consecutive Months At June 30 , · Based upon an internal review of the collateral backing the TRUP CDOs portfolio, which accounted for current and prospective deferrals, the securities could reasonably be expected to continue making all contractual payments · At June 30, 2017, the Company did not intend to sell these securities prior to full recovery of their impairment · There were no cash or working capital requirements nor contractual or regulatory obligations that would compel the Company to sell these securities prior to their forecasted recovery or maturity · The securities have a pool of underlying issuers comprised primarily of banks · None of the securities have exposure to real estate investment trust issued debt (which has experienced high default rates) · The securities feature either a mandatory auction or a de-leveraging mechanism that could result in principal repayments to the Bank prior to the stated maturity of the security · The securities are adequately collateralized The unrealized loss on the second TRUP with unrealized holding losses for 12 or more consecutive months was considered to be other than temporary. See below for a discussion of other than temporary impairment. TRUP CDOs with Other than Temporary Impairment As of each reporting period through June 30, 2017, the Company applied the protocol established by ASC 320-10-65 in order to determine whether OTTI existed for its TRUPS and/or to measure, for TRUP CDOs that were determined to be other than temporarily impaired, the credit related and non-credit related components of OTTI. As of June 30, 2017, five TRUP CDOs were determined to meet the criteria for OTTI based upon this analysis, and no additional OTTI charges were recognized. The following table provides a reconciliation of the pre-tax OTTI charges recognized on the Company's TRUP CDOs, for which a portion of the impairment loss (non-credit factors) was recognized in other comprehensive income for the period ended: Three Months Ended June 30, 2017 2016 Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Cumulative pre-tax balance at the beginning of the period $ 8,587 $ 536 $ 9,123 $ 8,691 $ 570 $ 9,261 Amortization of previously recognized OTTI (26 ) (9 ) (35 ) (26 ) (8 ) (34 ) Cumulative pre-tax balance at end of the period $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227 Six Months Ended June 30, 2017 2016 Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Cumulative pre-tax balance at the beginning of the period $ 8,613 $ 544 $ 9,157 $ 8,717 $ 578 $ 9,295 Amortization of previously recognized OTTI (52 ) (17 ) (69 ) (52 ) (16 ) (68 ) Cumulative pre-tax balance at end of the period $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2017
DERIVATIVES AND HEDGING ACTIVITIES [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	10. DERIVATIVES AND HEDGING ACTIVITIES Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated Other Comprehensive Loss and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three-month and six-month periods ended June 30, 2017 and 2016, such derivatives were used to hedge the variability in cash flows associated with wholesale borrowings, i.e. Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are paid on the Company’s liabilities. During the next twelve months the Company estimates that $52 will be reclassified as an increase to interest expense. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition: At June 30, 2017 At December 31, 2016 Count Notional Amount Fair Value Assets Fair Value Liabilities Count Notional Amount Fair Value Assets Fair Value Liabilities Included in other assets/(liabilities): Interest rate swaps related to FHLBNY advances 7 $ 135,000 $ 2,898 $ (87 ) 4 $ 90,000 $ 3,228 $ - Weighted average pay rates 1.46 % 1.24 % Weighted average receive rates 1.22 % 0.95 % Weighted average maturity 4.79 years 5.32 years The table below presents the effect of the Company’s derivative financial instruments as the amount of gain or (loss) on the Consolidated Statements of Income for the periods indicated: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Interest rate products Effective portion: Amount of gain (loss) recognized in other comprehensive income $ (825 ) $ (998 ) $ (597 ) $ (998 ) Amount of gain or (loss) reclassified from other comprehensive income into interest expense (92 ) (41 ) (179 ) (41 ) Ineffective Portion: Amount of gain or (loss) recognized in other non-interest expense - - - - The Company’s agreements with each of its derivative counterparties state that if the Company defaults on any of its indebtedness, it could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty. The Company’s agreements with certain of its derivative counterparties state that if the Bank fails to maintain its status as a well-capitalized institution, the Bank could be required to terminate its derivative positions with the counterparty. As of June 30, 2017, the termination value of derivatives in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $2,791. If the Company had breached any of the above provisions at June 30, 2017, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty. There were no provisions breached for the period ended June 30, 2017.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2017
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	11. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value hierarchy established under ASC 820-10 is summarized as follows: Level 1 Inputs Level 2 Inputs e.g. Level 3 Inputs The following tables present the assets and liabilities measured at fair value on a recurring basis as of the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements at June 30, 2017 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 437 $ 437 $ - $ - International Equity Mutual Funds 114 114 - - Fixed Income Mutual Funds 2,136 2,136 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,456 1,456 - - International Equity Mutual Funds 429 429 - - Fixed Income Mutual Funds 2,164 2,164 - - Pass-through MBS issued by GSEs 343 - 343 - Agency CMOs 3,153 - 3,153 - Derivative – interest rate product 2,898 - 2,898 - Financial Liabilities Derivative – interest rate product 87 - 87 - Fair Value Measurements at December 31, 2016 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 873 $ 873 $ - $ - International Equity Mutual Funds 213 213 - - Fixed Income Mutual Funds 5,867 5,867 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,356 1,356 - - International Equity Mutual Funds 377 377 - - Fixed Income Mutual Funds 2,162 2,162 - - Pass-through MBS issued by GSEs 372 - 372 - Agency CMOs 3,186 - 3,186 - Derivative – interest rate product 3,228 - 3,228 - The Company’s available-for-sale investment securities and MBS are reported at fair value, which were determined utilizing prices obtained from independent parties. The valuations obtained are based upon market data, and often utilize evaluated pricing models that vary by asset and incorporate available trade, bid and other market information. For securities that do not trade on a daily basis, pricing applications apply available information such as benchmarking and matrix pricing. The market inputs normally sought in the evaluation of securities include benchmark yields, reported trades, broker/dealer quotes (obtained only from market makers or broker/dealers recognized as market participants), issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. For certain securities, additional inputs may be used or some market inputs may not be applicable. Prioritization of inputs may vary on any given day based on market conditions. The pass-through MBS issued by GSEs all possessed the highest possible credit rating published by at least one established credit rating agency as of June 30, 2017 and December 31, 2016. Obtaining market values as of June 30, 2017 and December 31, 2016 for these securities utilizing significant observable inputs was not difficult due to their considerable demand. Derivatives represent interest rate swaps and estimated fair values are based on valuation models using observable market data as of the measurement date. There were no assets measured at fair value on a non-recurring basis as of June 30, 2017 or December 31, 2016. Impaired Loans An appraisal is generally ordered for all impaired multifamily residential, mixed use and commercial real estate loans for which the most recent appraisal is more than one year old. The Bank never adjusts independent appraisal data upward. Occasionally, management will adjust independent appraisal data downward based upon its own lending expertise and/or experience with the subject property, utilizing such factors as potential note sale values, or a more refined estimate of costs to repair and time to lease the property. Adjustments for potential disposal costs are also considered when determining the final appraised value. As of June 30, 2017 and December 31, 2016, there were no impaired loans measured at fair value. The carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or non-recurring basis at June 30, 2017 and December 31, 2016 were as follows: Fair Value Measurements at June 30, 2017 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 110,044 $ 110,044 $ - $ - $ 110,044 TRUP CDOs 5,315 - - 8,385 8,385 Loans, net 5,854,896 - - 5,845,003 5,845,003 Accrued interest receivable 16,124 - 12 16,112 16,124 FHLBNY capital stock 50,961 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,521,854 3,521,854 - - 3,521,854 Certificates of Deposits (“CDs”) 896,626 - 899,111 - 899,111 Escrow and other deposits 91,196 91,196 - - 91,196 FHLBNY Advances 944,575 - 943,875 - 943,875 Subordinated debt 113,545 - 114,695 - 114,695 Trust Preferred securities payable 70,680 70,680 - - 70,680 Accrued interest payable 2,289 - 2,289 - 2,289 Fair Value Measurements at December 31, 2016 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 113,503 $ 113,503 $ - $ - $ 113,503 TRUP CDOs 5,378 - - 7,296 7,296 Loans, net 5,615,886 - - 5,609,034 5,609,034 Accrued interest receivable 15,647 - 11 15,636 15,647 FHLBNY capital stock 44,444 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,346,961 3,346,961 - - 3,346,961 CDs 1,048,465 - 1,054,131 - 1,054,131 Escrow and other deposits 103,001 103,001 - - 103,001 FHLBNY Advances 831,125 - 831,951 - 831,951 Trust Preferred securities payable 70,680 - 69,973 - 69,973 Accrued interest payable 2,080 - 2,080 - 2,080 Cash and Due From Banks – TRUP CDOs Held to Maturity Loans, Net (Excluding Impaired Loans Carried at Fair Value) Accrued Interest Receivable – FHLBNY Capital Stock Deposits i.e Escrow and Other Deposits – (i.e. FHLBNY Advances – Subordinated debt Trust Preferred Securities Payable Accrued Interest Payable –

RETIREMENT AND POSTRETIREMENT P

RETIREMENT AND POSTRETIREMENT PLANS	6 Months Ended
	Jun. 30, 2017
RETIREMENT AND POSTRETIREMENT PLANS [Abstract]
RETIREMENT AND POSTRETIREMENT PLANS	12. RETIREMENT AND POSTRETIREMENT PLANS The Holding Company or the Bank maintains the Retirement Plan of Dime Community Bank (the "Employee Retirement Plan"), the Retirement Plan for Board Members of Dime Community Bancshares, Inc. (the "Outside Director Retirement Plan"), the BMP, and the Postretirement Welfare Plan of Dime Community Bank (the "Postretirement Plan"). Net expenses associated with these plans were comprised of the following components: Three Months Ended June 30, 2017 2016 BMP, Employee and Outside Director Retirement Plans Postretirement Plan BMP, Employee and Outside Director Retirement Plans Postretirement Plan Service cost $ - $ - $ - $ - Interest cost 329 14 343 16 Expected return on assets (395 ) - (383 ) - Unrecognized past service liability - (2 ) - (2 ) Amortization of unrealized loss (gain) 359 (1 ) 428 (1 ) Net periodic cost $ 293 $ 11 $ 388 $ 13 Six Months Ended June 30, 2017 2016 BMP, Employee and Outside Director Retirement Plans Postretirement Plan BMP, Employee and Outside Director Retirement Plans Postretirement Plan Service cost $ - $ - $ - $ - Interest cost 658 28 686 32 Expected return on assets (790 ) - (766 ) - Unrecognized past service liability - (4 ) - (4 ) Amortization of unrealized loss (gain) 718 (2 ) 858 (2 ) Net periodic cost $ 586 $ 22 $ 778 $ 26 The Company disclosed in its consolidated financial statements for the year ended December 31, 2016 that it expected to make contributions to, or benefit payments on behalf of, benefit plans during 2017 as follows: Employee Retirement Plan - $15, Outside Director Retirement Plan - $208, Postretirement Plan - $113, and BMP - $725. The Company made contributions of $8 to the Employee Retirement Plan during the three months ended June 30, 2017, and $12 during the six months ended June 30, 2017, and expects to make the remainder of the anticipated contributions during 2017. The Company made benefit payments of $56 on behalf of the Outside Director Retirement Plan during the three months ended June 30, 2017, and $97 during the six months ended June 30, 2017, and expects to make the remainder of the estimated net contributions or benefit payments during 2017. The Company made benefit payments totaling $42 on behalf of the Postretirement Plan during the three months ended June 30, 2017, and $77 during the six months ended June 30, 2017, and expects to make the remainder of the anticipated contributions or benefit payments during 2017. The Company made benefit payments totaling $69 on behalf of the BMP during the three month period ended June 30, 2017, and $104 during six months ended June 30, 2017, and expects to make the remainder of the anticipated benefit payments during 2017. The BMP exists in order to compensate executive officers for any curtailments in benefits due to statutory limitations on qualifying benefit plans. During the three-month period ended June 30, 2017, in addition to benefit payments from the defined benefit plan component of the BMP discussed above, a retired participant elected a gross lump-sum distribution of $121. The distribution was satisfied by 4,282 shares of Common Stock (market value of $84) held by the ESOP component of the BMP and cash of $37 held by the defined contribution plan components of the BMP. As a result of the distribution, a non-cash tax benefit of $8 was recognized for the difference between market value and cost basis of the common stock held by the BMP. Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09.

SUBORDINATED NOTES PAYABLE

SUBORDINATED NOTES PAYABLE	6 Months Ended
	Jun. 30, 2017
SUBORDINATED NOTES PAYABLE [Abstract]
SUBORDINATED NOTE PAYABLE	13. SUBORDINATED NOTES PAYABLE During the six months ended June 30, 2017, the Holding Company issued $115.0 million of fixed-to-floating rate subordinated notes due June 2027, which become callable commencing on June 15, 2022. The notes will mature on June 15, 2027 (the “Maturity Date”). From and including June 13, 2017 until but excluding June 15, 2022, interest will be paid semi-annually in arrears on each June 15 and December 15 at a fixed annual interest rate equal to 4.50%. From and including June 15, 2022 to, but excluding, the Maturity Date or earlier redemption date, the interest rate shall reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 266 basis points, payable quarterly in arrears. Debt issuance cost directly associated with subordinated debt offering was capitalized and netted with subordinated notes payable on the Consolidated Statements of Financial Condition.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
INCOME TAXES [Abstract]
INCOME TAXES	14. INCOME TAXES During the three months ended June 30, 2017 and 2016, the Company's consolidated effective tax rates were 37.8% and 42.2%, respectively. During the six months ended June 30, 2017 and 2016, the Company's consolidated effective tax rates were 38.0% and 42.2%, respectively. The higher consolidated tax rate during the three-month and six-month periods ended June 30, 2016 was primarily the result of a $68,183 gain on sale of real estate transaction during the six month period ended June 30, 2016. There were no other significant unusual income tax items during the three-month or six-month periods ended either June 30, 2017 or 2016.

PREMISES HELD FOR SALE

PREMISES HELD FOR SALE	6 Months Ended
	Jun. 30, 2017
PREMISES HELD FOR SALE [Abstract]
PREMISES HELD FOR SALE	15. PREMISES HELD FOR SALE On March 16, 2016, the Bank completed the sale of premises held for sale with an aggregate recorded balance of $ 8,799 at December 31, 2015. A gain of $68,183 was recognized on this sale. During the three months ended March 31, 2016, the Bank re-classified certain real estate utilized as a retail branch and principal office of the Company and the Bank to premises held for sale. The aggregate recorded balance of the premises held for sale was $1,379 at June 30, 2017, the outstanding balance upon transfer. On April 14, 2016, a Purchase and Sale Agreement was executed for the property, for a sale price of $12,300. The sale is expected to close in September 2017.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2017
SUBSEQUENT EVENT [Abstract]
SUBSEQUENT EVENT	16. SUBSEQUENT EVENT The Company redeemed its $70,680 of Trust Preferred securities borrowings at par from third parties in June 2017. The redemption was completed on July 17, 2017. No gain or loss is expected to be recorded from the redemption. On July 24, 2017, the Company decided to sell its $5,315 of TRUP CDOs. The sale was completed in August 2017. A pre-tax gain of approximately $3,850 is expected to be recorded from the sale.

OTHER COMPREHENSIVE INCOME (L24

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2017
OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]
Activity in Accumulated Other Comprehensive Income (Loss), Net of Tax	Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Securities Held- to-Maturity and Transferred Securities Securities Available-for- Sale Defined Benefit Plans Derivative Asset Total Accumulated Other Comprehensive Gain (Loss) Balance as of January 1, 2017 $ (713 ) $ (92 ) $ (6,910 ) $ 1,776 $ (5,939 ) Other comprehensive income before reclassifications 36 125 (7 ) (331 ) (177 ) Amounts reclassified from accumulated other comprehensive loss - - 372 97 469 Net other comprehensive income during the period 36 125 365 (234 ) 292 Balance as of June 30, 2017 $ (677 ) $ 33 $ (6,545 ) $ 1,542 $ (5,647 ) Balance as of January 1, 2016 $ (760 ) $ (122 ) $ (7,919 ) $ - $ (8,801 ) Other comprehensive income before reclassifications 22 34 - (526 ) (470 ) Amounts reclassified from accumulated other comprehensive loss - - 468 - 468 Net other comprehensive income during the period 22 34 468 (526 ) (2 ) Balance as of June 30, 2016 $ (738 ) $ (88 ) $ (7,451 ) $ (526 ) $ (8,803 )
Component of Other Comprehensive Income (Loss)	Reclassification adjustments related to the defined benefit plan are included in the line entitled salaries and employee benefits. Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Change in unrealized holding loss on securities held-to-maturity and transferred securities: Accretion of previously recognized non-credit component of OTTI $ 8 $ 8 $ 17 $ 16 Change in unrealized loss on securities transferred to held-to-maturity 22 14 47 25 Net change 30 22 64 41 Tax expense 12 10 28 19 Net change in unrealized holding loss on securities held-to-maturity and transferred securities 18 12 36 22 Change in unrealized holding gain on securities available-for-sale: Change in net unrealized gain during the period 104 47 224 62 Tax expense 44 21 99 28 Net change in unrealized holding gain on securities available-for-sale 60 26 125 34 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in salaries and employee benefits expense 355 425 657 850 Tax expense 161 191 292 382 Net change in pension and other postretirement obligations 194 234 365 468 Change in unrealized loss on derivative liability: Change in net unrealized loss during the period (825 ) (998 ) (597 ) (998 ) Reclassification adjustment for expense included in interest expense 92 41 179 41 Net change (733 ) (957 ) (418 ) (957 ) Tax benefit (328 ) (431 ) (184 ) (431 ) Net change in unrealized loss on derivative liability (405 ) (526 ) (234 ) (526 ) Other comprehensive income (loss) $ (133 ) $ (254 ) $ 292 $ (2 )

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2017
EARNINGS PER SHARE ("EPS") [Abstract]
Reconciliation of Numerators and Denominators of Basic EPS and Diluted EPS	The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net income per the Consolidated Statements of Income $ 11,989 $ 11,208 $ 23,146 $ 61,245 Less: Dividends paid and earnings allocated to participating securities (38 ) (24 ) (63 ) (55 ) Income attributable to common stock $ 11,951 $ 11,184 $ 23,083 $ 61,190 Weighted average common shares outstanding, including participating securities 37,733,956 36,946,082 37,670,585 36,874,535 Less: weighted average participating securities (179,346 ) (192,525 ) (166,398 ) (202,885 ) Weighted average common shares outstanding 37,554,610 36,753,557 37,504,187 36,671,650 Basic EPS $ 0.32 $ 0.30 $ 0.62 $ 1.67 Income attributable to common stock $ 11,951 $ 11,184 $ 23,083 $ 61,190 Weighted average common shares outstanding 37,554,610 36,753,557 37,504,187 36,671,650 Weighted average common equivalent shares outstanding 81,188 65,028 86,011 69,420 Weighted average common and equivalent shares outstanding 37,635,798 36,818,585 37,590,198 36,741,070 Diluted EPS $ 0.32 $ 0.30 $ 0.61 $ 1.67

ACCOUNTING FOR STOCK BASED CO26

ACCOUNTING FOR STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2017
ACCOUNTING FOR STOCK BASED COMPENSATION [Abstract]
Summary of Activity Related to Stock Options	The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the six-month period then ended: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Years Aggregate Intrinsic Value Options outstanding at January 1, 2017 209,254 $ 15.48 Options granted - - Options exercised (42,179 ) 14.87 Options outstanding at June 30, 2017 167,075 $ 15.64 2.1 $ 662 Options vested and exercisable at June 30, 2017 167,075 $ 15.64 2.1 $ 662
Information Related to Stock Option Plan	Information related to stock options during each period is as follows: At or for the Three Months Ended June 30, At or for the Six Months Ended June 30, 2017 2016 2017 2016 Cash received for option exercise cost $ 2 $ 2,900 $ 626 $ 2,900 Income tax benefit recognized on stock option exercises (1) - 64 69 64 Intrinsic value of options exercised 1 732 276 732 (1) Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital.
Summary of Activity Related to Restricted Stock Awards	The following table presents a summary of activity related to the RSAs granted, and changes during the three-month period then ended: Number of Shares Weighted-Average Grant-Date Fair Value Unvested allocated shares outstanding at January 1, 2017 152,409 $ 16.56 Shares granted 121,857 19.60 Shares vested (82,520 ) 16.34 Shares forfeited (16,448 ) 17.24 Unvested allocated shares at June 30, 2017 175,298 $ 18.71
Information Related to Restricted Stock Award Plan	Information related to RSAs during each period is as follows: At or for the Three Months Ended June 30, At or for the Six Months Ended June 30, 2017 2016 2017 2016 Compensation expense recognized $ 370 $ 390 $ 666 $ 828 Income tax benefit recognized on vesting of RSA (1) 114 77 116 78 (1) Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital.
Summary of Activity Related to Performance Based Equity Awards	The following table presents a summary of activity related to performance based equity awards, and changes during the three-month period then ended: Number of Shares Weighted-Average Grant-Date Fair Value Maximum aggregate share payout at January 1, 2017 24,730 $ 17.35 Shares granted 71,976 19.75 Shares forfeited (10,010 ) 18.73 Maximum aggregate share payout at June 30, 2017 86,696 $ 19.18 Minimum aggregate share payout - - Likely aggregate share payout 49,974 $ 19.47

LOANS RECEIVABLE AND CREDIT Q27

LOANS RECEIVABLE AND CREDIT QUALITY (Tables)	6 Months Ended
	Jun. 30, 2017
LOANS RECEIVABLE AND CREDIT QUALITY [Abstract]
Summary of the Credit Risk Profile of the Real Estate Loans	The following is a summary of the credit risk profile of real estate and C&I loans (including deferred costs) by internally assigned grade as of the dates indicated: Balance at June 30, 2017 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 69,688 $ 182 $ 1,112 $ - $ 70,982 Multifamily residential and residential mixed use 4,747,233 3,432 5,515 - 4,756,180 Commercial mixed use real estate 399,960 - 4,966 - 404,926 Commercial real estate 563,513 864 6,468 - 570,845 ADC 4,000 - - - 4,000 Total real estate 5,784,394 4,478 18,061 - 5,806,933 C&I 68,199 - - - 68,199 Total $ 5,852,593 $ 4,478 $ 18,061 $ - $ 5,875,132 Balance at December 31, 2016 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 72,325 $ 212 $ 1,485 $ - $ 74,022 Multifamily residential and residential mixed use 4,589,838 3,488 7,200 - 4,600,526 Commercial mixed use real estate 398,139 535 5,465 - 404,139 Commercial real estate 546,568 525 7,227 - 554,320 Total Real Estate $ 5,606,870 $ 4,760 $ 21,377 $ - $ 5,633,007 The following is a summary of the credit risk profile of consumer loans by internally assigned grade: Grade Balance at June 30, 2017 Balance at December 31, 2016 (1) Performing $ 1,748 $ 3,414 Non-accrual 1 1 Total $ 1,749 $ 3,415 (1) Included in the balance of consumer loans at December 31, 2016 are $2,058 of C&I loans. Subsequent to December 31, 2016, C&I loans were evaluated based on risk ratings and included in the preceding credit risk profile table.
Past Due Financing Receivables	The following is a breakdown of the past due status of the Company's investment in loans (excluding accrued interest) as of the dates indicated: At June 30, 2017 30 to 59 Days Past Due 60 to 89 Days Past Due Loans 90 Days or More Past Due and Still Accruing Interest Non-accrual (1) Total Past Due Current Total Loans Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 84 $ 74 $ 373 $ 654 $ 1,185 $ 69,797 $ 70,982 Multifamily residential and residential mixed use - - 98 2,618 2,716 4,753,464 4,756,180 Commercial mixed use real estate - - 793 101 894 404,032 404,926 Commercial real estate 1,713 - - - 1,713 569,132 570,845 ADC - - - - - 4,000 4,000 Total real estate $ 1,797 $ 74 $ 1,264 $ 3,373 $ 6,508 $ 5,800,425 $ 5,806,933 C&I $ - $ - $ - $ - $ - $ 68,199 $ 68,199 Consumer $ 2 $ - $ - $ 1 $ 3 $ 1,746 $ 1,749 (1) At December 31, 2016 30 to 59 Days Past Due 60 to 89 Days Past Due Loans 90 Days or More Past Due and Still Accruing Interest Non-accrual (1) Total Past Due Current Total Loans Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 188 $ - $ 1,513 $ 1,012 $ 2,712 $ 71,309 $ 74,022 Multifamily residential and residential mixed use - - 1,557 2,675 4,232 4,596,294 4,600,526 Commercial mixed use real estate - - - 549 549 403,590 404,139 Commercial real estate 1,732 - - - 1,732 552,588 554,320 Total real estate $ 1,920 $ - $ 3,070 $ 4,236 $ 9,226 $ 5,623,781 $ 5,633,007 C&I $ - $ - $ - $ - $ - $ 2,058 $ 2,058 Consumer $ - $ - $ - $ 1 $ 1 $ 1,356 $ 1,357 (1)
Troubled Debt Restructurings on Financing Receivables	The following table summarizes outstanding TDRs by underlying collateral types as of the dates indicated: As of June 30, 2017 As of December 31, 2016 No. of Loans Balance No. of Loans Balance One-to-four family residential, including condominium and cooperative apartment 2 $ 399 2 $ 407 Multifamily residential and residential mixed use 3 639 3 658 Commercial mixed use real estate 1 4,218 1 4,261 Commercial real estate 1 3,330 1 3,363 Total real estate 7 $ 8,586 7 $ 8,689

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2017
ALLOWANCE FOR LOAN LOSSES [Abstract]
Allowance for Credit Losses for Impairment by Financing Receivables Class	The following tables present data regarding the allowance for loan losses activity for the periods indicated: At or for the Three Months Ended June 30, 2017 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate C&I Beginning balance $ 129 $ 16,665 $ 1,589 $ 2,099 $ - $ 20,482 $ 453 $ 19 Provision (credit) for loan losses (19 ) 730 (178 ) (65 ) 6 474 570 3 Charge-offs - (23 ) - - - (23 ) - (5 ) Recoveries 12 - - - - 12 - - Ending balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 At or for the Three Months Ended June 30, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate Beginning balance $ 99 $ 14,462 $ 1,552 $ 2,381 $ 18,494 $ 19 Provision (credit) for loan losses 96 407 133 (194 ) 442 - Charge-offs (4 ) (43 ) (1 ) - (48 ) - Recoveries 1 - - - 1 1 Ending balance $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 At or for the Six Months Ended June 30, 2017 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate C&I Beginning balance $ 145 $ 16,555 $ 1,698 $ 2,118 $ - $ 20,516 $ - $ 20 Provision (credit) for loan losses (23 ) 864 (291 ) (84 ) 6 472 1,023 2 Charge-offs (13 ) (92 ) - - - (105 ) - (5 ) Recoveries 13 45 4 - - 62 - - Ending balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 At or for the Six Months Ended June 30, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate Beginning balance $ 263 $ 14,118 $ 1,652 $ 2,461 $ 18,494 $ 20 Provision (credit) for loan losses (46 ) 731 34 (297 ) 422 (1 ) Charge-offs (27 ) (60 ) (2 ) - (89 ) - Recoveries 2 37 - 23 62 1 Ending balance $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment evaluation method as of the periods indicated: At or for the Three Months Ended June 30, 2017 Real Estate Loans C&I Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate ADC Total Real Estate Allowance for loan losses: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 122 17,372 1,411 2,034 6 20,945 1,023 17 Total ending allowance balance $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 Loans: Individually evaluated for impairment $ 399 $ 3,257 $ 4,319 $ 3,330 $ - $ 11,305 $ - $ - Collectively evaluated for impairment 70,583 4,752,923 400,607 567,515 4,000 5,795,628 68,199 1,749 Total ending loans balance $ 70,982 $ 4,756,180 $ 404,926 $ 570,845 $ 4,000 $ 5,806,933 $ 68,199 $ 1,749 At or for the Year Ended December 31, 2016 Real Estate Loans Consumer Loans One-to-Four Family Residential, Including Condominium and Cooperative Apartment Multifamily Residential and Residential Mixed Use Commercial Mixed Use Real Estate Commercial Real Estate Total Real Estate C&I Allowance for loan losses: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 145 16,555 1,698 2,118 20,516 - 20 Total ending allowance balance $ 145 $ 16,555 $ 1,698 $ 2,118 $ 20,516 $ - $ 20 Loans: Individually evaluated for impairment $ 407 $ 3,333 $ 4,810 $ 3,363 $ 11,913 $ - $ - Collectively evaluated for impairment 73,615 4,597,193 399,329 550,957 5,621,094 2,058 1,357 Total ending loans balance $ 74,022 $ 4,600,526 $ 404,139 $ 554,320 $ 5,633,007 $ 2,058 $ 1,357
Summary of Impaired Real Estate Loans	The following tables summarize impaired real estate loans with no related allowance recorded as of the periods indicated (by collateral type within the real estate loan segment): At June 30, 2017 At December 31, 2016 Unpaid Principal Balance Recorded Investment (1) Related Allowance Unpaid Principal Balance Recorded Investment (1) Related Allowance With no related allowance recorded: One-to-Four Family Residential, Including Condominium and Cooperative Apartment $ 399 $ 399 $ - $ 407 $ 407 $ - Multifamily Residential and Residential Mixed Use 3,257 3,257 - 3,333 3,333 - Commercial Mixed Use Real Estate 4,319 4,319 - 4,810 4,810 - Commercial Real Estate 3,330 3,330 - 3,363 3,363 - Total with no related allowance recorded $ 11,305 $ 11,305 $ - $ 11,913 $ 11,913 $ - (1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality. The following table presents information for impaired loans for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized Average Recorded Investment (1) Interest Income Recognized With no related allowance recorded: One-to-Four Family Residential, Including Condominium and Cooperative Apartment $ 400 $ 7 $ 399 $ 7 $ 402 $ 14 $ 465 $ 41 Multifamily Residential and Residential Mixed Use 3,264 16 2,451 25 3,287 62 1,962 38 Commercial Mixed Use Real Estate 4,527 43 4,367 44 4,622 88 4,360 88 Commercial Real Estate 3,338 33 3,404 34 3,347 67 3,481 68 Ending balance $ 11,529 $ 99 $ 10,621 $ 110 $ 11,658 $ 231 $ 10,268 $ 235 (1) The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

INVESTMENT AND MORTGAGE-BACKE29

INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2017
INVESTMENT AND MORTGAGE-BACKED SECURITIES [Abstract]
Summary of Major Categories of Securities Owned by Entity	The following tables summarize the major categories of securities owned by the Company (excluding trading securities) for the periods indicated: At June 30, 2017 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities held-to-maturity: Pooled bank trust preferred securities (“TRUP CDOs”) (2) $ 5,315 $ 3,161 $ (91 ) $ 8,385 Investment securities available-for-sale: Registered Mutual Funds 3,944 186 (81 ) 4,049 Pass-through MBS issued by GSEs 333 10 - 343 Agency Collateralized Mortgage Obligation (“CMO”) 3,207 - (54 ) 3,153 Total investment securities available-for-sale 7,484 196 (135 ) 7,545 Total investment securities $ 12,799 $ 3,357 $ (226 ) $ 15,930 (1) (2) At December 31, 2016 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities held-to-maturity: TRUP CDOs $ 5,378 $ 2,221 $ (303 ) $ 7,296 Investment securities available-for-sale: Registered Mutual Funds 4,011 62 (178 ) 3,895 Pass-through MBS issued by GSEs 360 12 - 372 CMO 3,247 - (61 ) 3,186 Total investment securities available-for-sale 7,618 74 (239 ) 7,453 Total investment securities $ 12,996 $ 2,295 $ (542 ) $ 14,749 (1)
Summary of Gross Unrealized Losses and Fair Value of Investment Securities by Investment Category and Length of Time in a Continuous Unrealized Loss Position	The following table summarizes the gross unrealized losses and fair value of investment securities aggregated by investment category and the length of time the securities were in a continuous unrealized loss position for the periods indicated: June 30, 2017 Less than 12 Consecutive Months 12 Consecutive Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities held-to-maturity: TRUP CDOs $ - $ - $ 2,549 $ 91 $ 2,549 $ 91 Investment securities available-for-sale: Registered Mutual Funds 1,099 25 1,595 56 2,694 81 Agency CMO - - 3,153 54 3,153 54 December 31, 2016 Less than 12 Consecutive Months 12 Consecutive Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities held-to-maturity: TRUP CDOs $ - $ - $ 2,439 $ 303 $ 2,439 $ 303 Investment securities available-for-sale: Registered Mutual Funds 1,308 47 1,747 131 3,055 178 Agency CMO 3,186 61 - - 3,186 61
Reconciliation of Pre-Tax OTTI Charges Recognized	The following table provides a reconciliation of the pre-tax OTTI charges recognized on the Company's TRUP CDOs, for which a portion of the impairment loss (non-credit factors) was recognized in other comprehensive income for the period ended: Three Months Ended June 30, 2017 2016 Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Cumulative pre-tax balance at the beginning of the period $ 8,587 $ 536 $ 9,123 $ 8,691 $ 570 $ 9,261 Amortization of previously recognized OTTI (26 ) (9 ) (35 ) (26 ) (8 ) (34 ) Cumulative pre-tax balance at end of the period $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227 Six Months Ended June 30, 2017 2016 Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Credit Related OTTI Recognized in Earnings Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss Total OTTI Charge Cumulative pre-tax balance at the beginning of the period $ 8,613 $ 544 $ 9,157 $ 8,717 $ 578 $ 9,295 Amortization of previously recognized OTTI (52 ) (17 ) (69 ) (52 ) (16 ) (68 ) Cumulative pre-tax balance at end of the period $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227

DERIVATIVES AND HEDGING ACTIV30

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2017
DERIVATIVES AND HEDGING ACTIVITIES [Abstract]
Fair Value of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition: At June 30, 2017 At December 31, 2016 Count Notional Amount Fair Value Assets Fair Value Liabilities Count Notional Amount Fair Value Assets Fair Value Liabilities Included in other assets/(liabilities): Interest rate swaps related to FHLBNY advances 7 $ 135,000 $ 2,898 $ (87 ) 4 $ 90,000 $ 3,228 $ - Weighted average pay rates 1.46 % 1.24 % Weighted average receive rates 1.22 % 0.95 % Weighted average maturity 4.79 years 5.32 years
Effect of Derivative Financial Instruments on Consolidated Statements of Income	The table below presents the effect of the Company’s derivative financial instruments as the amount of gain or (loss) on the Consolidated Statements of Income for the periods indicated: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Interest rate products Effective portion: Amount of gain (loss) recognized in other comprehensive income $ (825 ) $ (998 ) $ (597 ) $ (998 ) Amount of gain or (loss) reclassified from other comprehensive income into interest expense (92 ) (41 ) (179 ) (41 ) Ineffective Portion: Amount of gain or (loss) recognized in other non-interest expense - - - -

FAIR VALUE OF FINANCIAL INSTR31

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	The following tables present the assets and liabilities measured at fair value on a recurring basis as of the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements at June 30, 2017 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 437 $ 437 $ - $ - International Equity Mutual Funds 114 114 - - Fixed Income Mutual Funds 2,136 2,136 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,456 1,456 - - International Equity Mutual Funds 429 429 - - Fixed Income Mutual Funds 2,164 2,164 - - Pass-through MBS issued by GSEs 343 - 343 - Agency CMOs 3,153 - 3,153 - Derivative – interest rate product 2,898 - 2,898 - Financial Liabilities Derivative – interest rate product 87 - 87 - Fair Value Measurements at December 31, 2016 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 873 $ 873 $ - $ - International Equity Mutual Funds 213 213 - - Fixed Income Mutual Funds 5,867 5,867 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,356 1,356 - - International Equity Mutual Funds 377 377 - - Fixed Income Mutual Funds 2,162 2,162 - - Pass-through MBS issued by GSEs 372 - 372 - Agency CMOs 3,186 - 3,186 - Derivative – interest rate product 3,228 - 3,228 -
Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or non-recurring basis at June 30, 2017 and December 31, 2016 were as follows: Fair Value Measurements at June 30, 2017 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 110,044 $ 110,044 $ - $ - $ 110,044 TRUP CDOs 5,315 - - 8,385 8,385 Loans, net 5,854,896 - - 5,845,003 5,845,003 Accrued interest receivable 16,124 - 12 16,112 16,124 FHLBNY capital stock 50,961 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,521,854 3,521,854 - - 3,521,854 Certificates of Deposits (“CDs”) 896,626 - 899,111 - 899,111 Escrow and other deposits 91,196 91,196 - - 91,196 FHLBNY Advances 944,575 - 943,875 - 943,875 Subordinated debt 113,545 - 114,695 - 114,695 Trust Preferred securities payable 70,680 70,680 - - 70,680 Accrued interest payable 2,289 - 2,289 - 2,289 Fair Value Measurements at December 31, 2016 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 113,503 $ 113,503 $ - $ - $ 113,503 TRUP CDOs 5,378 - - 7,296 7,296 Loans, net 5,615,886 - - 5,609,034 5,609,034 Accrued interest receivable 15,647 - 11 15,636 15,647 FHLBNY capital stock 44,444 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,346,961 3,346,961 - - 3,346,961 CDs 1,048,465 - 1,054,131 - 1,054,131 Escrow and other deposits 103,001 103,001 - - 103,001 FHLBNY Advances 831,125 - 831,951 - 831,951 Trust Preferred securities payable 70,680 - 69,973 - 69,973 Accrued interest payable 2,080 - 2,080 - 2,080

RETIREMENT AND POSTRETIREMENT32

RETIREMENT AND POSTRETIREMENT PLANS (Tables)	6 Months Ended
	Jun. 30, 2017
RETIREMENT AND POSTRETIREMENT PLANS [Abstract]
Schedule of Net Benefit Costs	Net expenses associated with these plans were comprised of the following components: Three Months Ended June 30, 2017 2016 BMP, Employee and Outside Director Retirement Plans Postretirement Plan BMP, Employee and Outside Director Retirement Plans Postretirement Plan Service cost $ - $ - $ - $ - Interest cost 329 14 343 16 Expected return on assets (395 ) - (383 ) - Unrecognized past service liability - (2 ) - (2 ) Amortization of unrealized loss (gain) 359 (1 ) 428 (1 ) Net periodic cost $ 293 $ 11 $ 388 $ 13 Six Months Ended June 30, 2017 2016 BMP, Employee and Outside Director Retirement Plans Postretirement Plan BMP, Employee and Outside Director Retirement Plans Postretirement Plan Service cost $ - $ - $ - $ - Interest cost 658 28 686 32 Expected return on assets (790 ) - (766 ) - Unrecognized past service liability - (4 ) - (4 ) Amortization of unrealized loss (gain) 718 (2 ) 858 (2 ) Net periodic cost $ 586 $ 22 $ 778 $ 26

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)RetailBranchSubsidiaryTrust
NATURE OF OPERATIONS [Abstract]
Trust preferred securities issued	$ 72.2
Interest rate	7.00%
Trust preferred securities outstanding	$ 70.7
Number of retail banking offices | RetailBranch	27
Number of active subsidiaries | Subsidiary	4
Number of real estate investment trusts | Trust	2

OTHER COMPREHENSIVE INCOME (L34

OTHER COMPREHENSIVE INCOME (LOSS), Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			$ 565,868	$ 493,947
Other comprehensive income before reclassifications			(177)	(470)
Amounts reclassified from accumulated other comprehensive loss			469	468
Other comprehensive income (loss), net of tax	$ (133)	$ (254)	292	(2)
Balance	580,448	549,611	580,448	549,611
Accumulated Other Comprehensive Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(5,939)	(8,801)
Balance	(5,647)	(8,803)	(5,647)	(8,803)
Securities Held-to-Maturity and Transferred Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(713)	(760)
Other comprehensive income before reclassifications			36	22
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss), net of tax			36	22
Balance	(677)	(738)	(677)	(738)
Securities Available-for-Sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(92)	(122)
Other comprehensive income before reclassifications			125	34
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss), net of tax			125	34
Balance	33	(88)	33	(88)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(6,910)	(7,919)
Other comprehensive income before reclassifications			(7)	0
Amounts reclassified from accumulated other comprehensive loss			372	468
Other comprehensive income (loss), net of tax			365	468
Balance	(6,545)	(7,451)	(6,545)	(7,451)
Derivative Asset [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			1,776	0
Other comprehensive income before reclassifications			(331)	(526)
Amounts reclassified from accumulated other comprehensive loss			97	0
Other comprehensive income (loss), net of tax			(234)	(526)
Balance	$ 1,542	$ (526)	$ 1,542	$ (526)

OTHER COMPREHENSIVE INCOME (L35

OTHER COMPREHENSIVE INCOME (LOSS), Before and After Tax Amounts by Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Change in unrealized holding loss on securities held-to-maturity and transferred securities [Abstract]
Accretion of previously recognized non-credit component of OTTI	$ 8	$ 8	$ 17	$ 16
Change in unrealized loss on securities transferred to held-to-maturity	22	14	47	25
Net change	30	22	64	41
Tax expense	12	10	28	19
Net change in unrealized holding loss on securities held-to-maturity and transferred securities	18	12	36	22
Change in unrealized holding gain on securities available-for-sale [Abstract]
Change in net unrealized gain during the period	104	47	224	62
Tax expense	44	21	99	28
Net change in unrealized holding gain on securities available-for-sale	60	26	125	34
Change in pension and other postretirement obligations [Abstract]
Reclassification adjustment for expense included in salaries and employee benefits expense	355	425	657	850
Tax expense	161	191	292	382
Net change in pension and other postretirement obligations	194	234	365	468
Change in unrealized loss on derivative liability [Abstract]
Change in net unrealized loss during the period	(825)	(998)	(597)	(998)
Reclassification adjustment for expense included in interest expense	92	41	179	41
Net change	(733)	(957)	(418)	(957)
Tax benefit	(328)	(431)	(184)	(431)
Net change in unrealized loss on derivative liability	(405)	(526)	(234)	(526)
Other comprehensive income (loss), net of tax	$ (133)	$ (254)	$ 292	$ (2)

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
EARNINGS PER SHARE ("EPS") [Abstract]
Net income per the Consolidated Statements of Income	$ 11,989	$ 11,208	$ 23,146	$ 61,245
Less: Dividends paid and earnings allocated to participating securities	(38)	(24)	(63)	(55)
Income attributable to common stock	$ 11,951	$ 11,184	$ 23,083	$ 61,190
Weighted average common shares outstanding, including participating securities (in shares)	37,733,956	36,946,082	37,670,585	36,874,535
Less: weighted average participating securities (in shares)	(179,346)	(192,525)	(166,398)	(202,885)
Weighted average common shares outstanding (in shares)	37,554,610	36,753,557	37,504,187	36,671,650
Basic EPS (in dollars per share)	$ 0.32	$ 0.30	$ 0.62	$ 1.67
Income attributable to common stock	$ 11,951	$ 11,184	$ 23,083	$ 61,190
Weighted average common shares outstanding (in shares)	37,554,610	36,753,557	37,504,187	36,671,650
Weighted average common equivalent shares outstanding (in shares)	81,188	65,028	86,011	69,420
Weighted average common and equivalent shares outstanding (in shares)	37,635,798	36,818,585	37,590,198	36,741,070
Diluted EPS (in dollars per share)	$ 0.32	$ 0.30	$ 0.61	$ 1.67
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average shares excluded from earnings per share calculation (in shares)	0	80,000	0	80,000

ACCOUNTING FOR STOCK BASED CO37

ACCOUNTING FOR STOCK BASED COMPENSATION, Stock Option Awards (Details) - Stock Option Awards [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Number of Options [Roll Forward]
Options outstanding, beginning of period (in shares)				209,254
Options granted (in shares)				0
Options exercised (in shares)				(42,179)
Options outstanding, end of period (in shares)		167,075		167,075
Options vested and exercisable, end of period (in shares)		167,075		167,075
Weighted-Average Exercise Price [Abstract]
Options outstanding, beginning of period (in dollars per share)				$ 15.48
Options granted (in dollars per share)				0
Options exercised (in dollars per share)				14.87
Options outstanding, end of period (in dollars per share)		$ 15.64		15.64
Options vested and exercisable. end of period (in dollars per shares)		$ 15.64		$ 15.64
Weighted-Average Remaining Contractual Years [Abstract]
Options outstanding				2 years 1 month 6 days
Options vested and exercisable				2 years 1 month 6 days
Aggregate Intrinsic Value [Abstract]
Options outstanding		$ 662		$ 662
Options vested and exercisable		662		662
Information Related to Stock Option Plans [Abstract]
Cash received for option exercise cost		2	$ 2,900	626	$ 2,900
Income tax benefit recognized on stock option exercises(1)	[1]	0	64	69	64
Intrinsic value of options exercised		$ 1	$ 732	$ 276	$ 732
Number of grants in period (in shares)		0	0	0	0
[1]	Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital.

ACCOUNTING FOR STOCK BASED CO38

ACCOUNTING FOR STOCK BASED COMPENSATION, Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Weighted-Average Grant-Date Fair Value [Abstract]
Compensation expense recognized				$ 838	$ 1,504
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years
Number of Shares [Roll Forward]
Unvested allocated shares outstanding, beginning of period (in shares)				152,409
Shares granted (in shares)				121,857
Shares vested (in shares)				(82,520)
Shares forfeited (in shares)				(16,448)
Unvested allocated shares outstanding, end of period (in shares)		175,298		175,298
Weighted-Average Grant-Date Fair Value [Abstract]
Unvested allocated shares outstanding, beginning of period (in dollars per share)				$ 16.56
Shares granted (in dollars per share)				19.60
Shares vested (in dollars per share)				16.34
Shares forfeited (in dollars per share)				17.24
Unvested allocated shares outstanding, end of period (in dollars per share)		$ 18.71		$ 18.71
Compensation expense recognized		$ 370	$ 390	$ 666	828
Income tax benefit recognized on vesting of RSA	[1]	114	$ 77	116	$ 78
Unrecognized compensation expense in period		$ 2,998		$ 2,998
Unrecognized compensation expense, period of recognition				2 years 10 months 20 days
[1]	Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January, 1, 2017, income tax benefits were recognized through additional paid in capital.

ACCOUNTING FOR STOCK BASED CO39

ACCOUNTING FOR STOCK BASED COMPENSATION, Performance Based Equity Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Performance Based Equity Awards [Abstract]
Compensation expense recognized			$ 838	$ 1,504
Performance Based Equity Awards [Member]
Performance Based Equity Awards [Abstract]
Percentage of threshold target for each award eligible to be earned based on relative performance			50.00%
Percentage of target for each award eligible to be earned based on relative performance			100.00%
Percentage of maximum target for each award eligible to be earned based on relative performance			150.00%
Measurement period goals related to long term cash incentive payment plan award payment			3 years
Compensation expense recognized	$ 76	$ 21	$ 172	$ 48
Number of Shares [Roll Forward]
Shares granted (in shares)			71,976
Shares forfeited (in shares)			(10,010)
Likely aggregate share payout (in shares)			49,974
Weighted-Average Grant-Date Fair Value [Abstract]
Shares granted (in dollars per share)			$ 19.75
Shares forfeited (in dollars per share)			18.73
Likely aggregate share payout (in dollars per share)			$ 19.47
Performance Based Equity Awards [Member] | Minimum [Member]
Number of Shares [Roll Forward]
Aggregate share payout, end of period (in shares)	0		0
Weighted-Average Grant-Date Fair Value [Abstract]
Aggregate share payout, end of period (in dollars per share)	$ 0		$ 0
Performance Based Equity Awards [Member] | Maximum [Member]
Number of Shares [Roll Forward]
Aggregate share payout, beginning of period (in shares)			24,730
Aggregate share payout, end of period (in shares)	86,696		86,696
Weighted-Average Grant-Date Fair Value [Abstract]
Aggregate share payout, beginning of period (in dollars per share)			$ 17.35
Aggregate share payout, end of period (in dollars per share)	$ 19.18		$ 19.18

LOANS RECEIVABLE AND CREDIT Q40

LOANS RECEIVABLE AND CREDIT QUALITY, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	$ 5,806,933	$ 5,633,007
C&I	68,199	2,058
Total	5,875,132
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	5,852,593
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	4,478
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	18,061
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	0
Real Estate Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	5,806,933	5,633,007
Real Estate Loan [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	5,784,394	5,606,870
Real Estate Loan [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,478	4,760
Real Estate Loan [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	18,061	21,377
Real Estate Loan [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	0
Real Estate Loan [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	70,982	74,022
Real Estate Loan [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	69,688	72,325
Real Estate Loan [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	182	212
Real Estate Loan [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	1,112	1,485
Real Estate Loan [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	0
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,756,180	4,600,526
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,747,233	4,589,838
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	3,432	3,488
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	5,515	7,200
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	0
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	404,926	404,139
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	399,960	398,139
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	535
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,966	5,465
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	0
Real Estate Loan [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	570,845	554,320
Real Estate Loan [Member] | Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	563,513	546,568
Real Estate Loan [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	864	525
Real Estate Loan [Member] | Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	6,468	7,227
Real Estate Loan [Member] | Commercial Real Estate [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0	0
Real Estate Loan [Member] | ADC [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,000
Real Estate Loan [Member] | ADC [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,000
Real Estate Loan [Member] | ADC [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0
Real Estate Loan [Member] | ADC [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0
Real Estate Loan [Member] | ADC [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	0
C & I Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	68,199	2,058
C & I Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	68,199
C & I Loans [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	0
C & I Loans [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	0
C & I Loans [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	0
Consumer Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Consumer loans	1,749	3,415	[1]
Consumer Loans [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Consumer loans	1,748	3,414	[1]
Consumer Loans [Member] | Non-Accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Consumer loans	$ 1	$ 1	[1]
[1]	Included in the balance of consumer loans at December 31, 2016 are $2,058 of C&I loans. Subsequent to December 31, 2016, C&I loans were evaluated based on risk ratings and included in the preceding credit risk profile table.

LOANS RECEIVABLE AND CREDIT Q41

LOANS RECEIVABLE AND CREDIT QUALITY, Past Due (Details) $ in Thousands		6 Months Ended		12 Months Ended
		Jun. 30, 2017USD ($)Loan		Dec. 31, 2016USD ($)Loan
Financing Receivable, Recorded Investment, Aging [Abstract]
Real estate loans		$ 5,806,933		$ 5,633,007
C&I		$ 68,199		$ 2,058
Number of real estate loans more than 90 days past due on contractual balloon payment | Loan		5		4
Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		$ 3,373	[1]	$ 4,236	[2]
Total past due		6,508		9,226
Current		5,800,425		5,623,781
Real estate loans		5,806,933		5,633,007
Real Estate Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		1,797		1,920
Real Estate Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		74		0
Real Estate Loans [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		1,264		3,070
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		654	[1]	1,012	[2]
Total past due		1,185		2,712
Current		69,797		71,309
Real estate loans		70,982		74,022
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		84		188
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		74		0
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		373		1,513
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		2,618	[1]	2,675	[2]
Total past due		2,716		4,232
Current		4,753,464		4,596,294
Real estate loans		4,756,180		4,600,526
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		98		1,557
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		101	[1]	549	[2]
Total past due		894		549
Current		404,032		403,590
Real estate loans		404,926		404,139
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		793		0
Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		0	[1]	0	[2]
Total past due		1,713		1,732
Current		569,132		552,588
Real estate loans		570,845		554,320
Real Estate Loans [Member] | Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		1,713		1,732
Real Estate Loans [Member] | Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | Commercial Real Estate [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Real Estate Loans [Member] | ADC [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	[1]	0
Total past due		0
Current		4,000
Real estate loans		4,000
Real Estate Loans [Member] | ADC [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0
Real Estate Loans [Member] | ADC [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0
Real Estate Loans [Member] | ADC [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0
C & I Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		0	[1]	0	[2]
Total past due		0		0
Current		68,199		2,058
C&I		68,199		2,058
C & I Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
C&I		0		0
C & I Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
C&I		0		0
C & I Loans [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
C&I		0		0
Consumer [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		1	[1]	1	[2]
Total past due		3		1
Current		1,746		1,356
Consumer loans		1,749		1,357
Consumer [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		2		0
Consumer [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		0
Consumer [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		$ 0		$ 0
[1]	Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of June 30, 2017.
[2]	Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of December 31, 2016.

LOANS RECEIVABLE AND CREDIT Q42

LOANS RECEIVABLE AND CREDIT QUALITY, Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)Loan	Jun. 30, 2016Loan	Jun. 30, 2017USD ($)Loan	Jun. 30, 2016Loan	Dec. 31, 2016USD ($)Loan
Troubled Debt Restructuring on Receivables [Abstract]
Number of TDRs on non-accrual status			0		0
Number of loans modified	0		0
Number of loan commitments to borrowers with outstanding TDRs	0		0		0
TDRs which defaulted within twelve months following the modification	0	0	0	0
Real Estate Loans [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			7		7
Balance | $	$ 8,586		$ 8,586		$ 8,689
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			2		2
Balance | $	399		$ 399		$ 407
Number of loans modified		1		1
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			3		3
Balance | $	639		$ 639		$ 658
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			1		1
Balance | $	4,218		$ 4,218		$ 4,261
Real Estate Loans [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			1		1
Balance | $	$ 3,330		$ 3,330		$ 3,363

ALLOWANCE FOR LOAN LOSSES, Allo

ALLOWANCE FOR LOAN LOSSES, Allowance by Class of Loan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Allocated reserves related to TDRs	$ 0		$ 0		$ 0
Loans classified as Substandard analysis of historical losses period			48 months		12 months
Loans classified as Special Mention analysis of historical losses period			48 months		12 months
Allowance for credit losses [Roll Forward]
Provision (credit) for loan losses	1,047	$ 442	$ 1,497	$ 421
Real Estate Loans [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	20,482	18,494	20,516	18,494	$ 18,494
Provision (credit) for loan losses	474	442	472	422
Charge-offs	(23)	(48)	(105)	(89)
Recoveries	12	1	62	62
Ending balance	20,945	18,889	20,945	18,889	20,516
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	20,945		20,945		20,516
Loans [Abstract]
Individually evaluated for impairment	11,305		11,305		11,913
Collectively evaluated for impairment	5,795,628		5,795,628		5,621,094
Total ending allowance balance	5,806,933		5,806,933		5,633,007
Real Estate Loans [Member] | One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	129	99	145	263	263
Provision (credit) for loan losses	(19)	96	(23)	(46)
Charge-offs	0	(4)	(13)	(27)
Recoveries	12	1	13	2
Ending balance	122	192	122	192	145
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	122		122		145
Loans [Abstract]
Individually evaluated for impairment	399		399		407
Collectively evaluated for impairment	70,583		70,583		73,615
Total ending allowance balance	70,982		70,982		74,022
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	16,665	14,462	16,555	14,118	14,118
Provision (credit) for loan losses	730	407	864	731
Charge-offs	(23)	(43)	(92)	(60)
Recoveries	0	0	45	37
Ending balance	17,372	14,826	17,372	14,826	16,555
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	17,372		17,372		16,555
Loans [Abstract]
Individually evaluated for impairment	3,257		3,257		3,333
Collectively evaluated for impairment	4,752,923		4,752,923		4,597,193
Total ending allowance balance	4,756,180		4,756,180		4,600,526
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	1,589	1,552	1,698	1,652	1,652
Provision (credit) for loan losses	(178)	133	(291)	34
Charge-offs	0	(1)	0	(2)
Recoveries	0	0	4	0
Ending balance	1,411	1,684	1,411	1,684	1,698
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,411		1,411		1,698
Loans [Abstract]
Individually evaluated for impairment	4,319		4,319		4,810
Collectively evaluated for impairment	400,607		400,607		399,329
Total ending allowance balance	404,926		404,926		404,139
Real Estate Loans [Member] | Commercial Real Estate [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	2,099	2,381	2,118	2,461	2,461
Provision (credit) for loan losses	(65)	(194)	(84)	(297)
Charge-offs	0	0	0	0
Recoveries	0	0	0	23
Ending balance	2,034	2,187	2,034	2,187	2,118
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	2,034		2,034		2,118
Loans [Abstract]
Individually evaluated for impairment	3,330		3,330		3,363
Collectively evaluated for impairment	567,515		567,515		550,957
Total ending allowance balance	570,845		570,845		554,320
Real Estate Loans [Member] | ADC [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	0		0
Provision (credit) for loan losses	6		6
Charge-offs	0		0
Recoveries	0		0
Ending balance	6		6		0
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	6		6
Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	4,000		4,000
Total ending allowance balance	4,000		4,000
C & I [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	453		0
Provision (credit) for loan losses	570		1,023
Charge-offs	0		0
Recoveries	0		0
Ending balance	1,023		1,023		0
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,023		1,023		0
Loans [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	68,199		68,199		2,058
Total ending allowance balance	68,199		68,199		2,058
Consumer Loans [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	19	19	20	20	20
Provision (credit) for loan losses	3	0	2	(1)
Charge-offs	(5)	0	(5)	0
Recoveries	0	1	0	1
Ending balance	17	$ 20	17	$ 20	20
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	17		17		20
Loans [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,749		1,749		1,357
Total ending allowance balance	$ 1,749		$ 1,749		$ 1,357

ALLOWANCE FOR LOAN LOSSES, Impa

ALLOWANCE FOR LOAN LOSSES, Impaired Real Estate Loans (Details) - Real Estate Loans [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Unpaid Principal Balance [Abstract]
With no allowance reserve		$ 11,305		$ 11,305		$ 11,913
Recorded Investment [Abstract]
With no allowance reserve	[1]	11,305		11,305		11,913
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve		11,529	$ 10,621	11,658	$ 10,268
Interest Income Recognized [Abstract]
With no related allowance recorded		99	110	231	235
One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		399		399		407
Recorded Investment [Abstract]
With no allowance reserve	[1]	399		399		407
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve		400	399	402	465
Interest Income Recognized [Abstract]
With no related allowance recorded		7	7	14	41
Multifamily Residential And Residential Mixed Use Allowance [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		3,257		3,257		3,333
Recorded Investment [Abstract]
With no allowance reserve	[1]	3,257		3,257		3,333
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve		3,264	2,451	3,287	1,962
Interest Income Recognized [Abstract]
With no related allowance recorded		16	25	62	38
Commercial Mixed Use Real Estate [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		4,319		4,319		4,810
Recorded Investment [Abstract]
With no allowance reserve	[1]	4,319		4,319		4,810
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve		4,527	4,367	4,622	4,360
Interest Income Recognized [Abstract]
With no related allowance recorded		43	44	88	88
Commercial Real Estate [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		3,330		3,330		3,363
Recorded Investment [Abstract]
With no allowance reserve	[1]	3,330		3,330		3,363
Related Allowance [Abstract]
Related allowance		0		0		$ 0
Average Recorded Investment [Abstract]
With no allowance reserve		3,338	3,404	3,347	3,481
Interest Income Recognized [Abstract]
With no related allowance recorded		$ 33	$ 34	$ 67	$ 68
[1]	The recorded investment excludes accrued interest receivable and loan origination fees, net, due to immateriality.

INVESTMENT AND MORTGAGE-BACKE45

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Major Categories of Securities Owned (Details) - USD ($) $ in Thousands	Aug. 07, 2017	Jun. 30, 2017		Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016	Dec. 31, 2016
Investment Securities Held-to-Maturity [Abstract]
Amortized Cost		$ 5,315			$ 5,315			$ 5,378
Fair Value		8,385			8,385			7,296
Investment Securities Available-for-sale [Abstract]
Amortized Cost		7,484	[1]		7,484	[1]		7,618	[2]
Gross Unrealized Gains		196			196			74
Gross Unrealized Losses		(135)			(135)			(239)
Fair Value		7,545			7,545			7,453
Total Investment Securities [Abstract]
Amortized Cost		12,799	[1]		12,799	[1]		12,996	[2]
Gross Unrealized Gains		3,357			3,357			2,295
Gross Unrealized Losses		(226)			(226)			(542)
Fair Value		15,930			15,930			14,749
Investment and Mortgage-Backed Securities [Abstract]
Proceeds from sale of investment securities available-for-sale					101		$ 0
Proceeds from the sales of trading securities					4,544		3,648
Pooled Bank Trust Preferred Securities [Member]
Investment Securities Held-to-Maturity [Abstract]
Amortized Cost		5,315	[1],[3]		5,315	[1],[3]		5,378	[2]
Gross Unrealized Gains		3,161	[3]		3,161	[3]		2,221
Gross Unrealized Losses		(91)	[3]		(91)	[3]		(303)
Fair Value		8,385	[3]		8,385	[3]		7,296
Investment and Mortgage-Backed Securities [Abstract]
Unamortized portion of the unrealized loss amount recognized		708			$ 708			755
Securities weighted average term to maturity					17 years 6 months
Pooled Bank Trust Preferred Securities [Member] | Subsequent Event [Member]
Investment and Mortgage-Backed Securities [Abstract]
Proceeds from sale of securities	$ 5,315
Registered Mutual Funds [Member]
Investment Securities Available-for-sale [Abstract]
Amortized Cost		3,944	[1]		$ 3,944	[1]		4,011	[2]
Gross Unrealized Gains		186			186			62
Gross Unrealized Losses		(81)			(81)			(178)
Fair Value		4,049			4,049			3,895
Investment and Mortgage-Backed Securities [Abstract]
Proceeds from sale of investment securities available-for-sale		68		$ 0	103		0
Gross gain recognized on sale of investment securities available for sale					0		4
Gross loss recognized on sale of investment securities available for sale					0		8
Pass-through MBS Issued by Government Sponsored Entities ("GSEs")
Investment Securities Available-for-sale [Abstract]
Amortized Cost		333	[1]		333	[1]		360	[2]
Gross Unrealized Gains		10			10			12
Gross Unrealized Losses		0			0			0
Fair Value		$ 343			$ 343			372
Investment and Mortgage-Backed Securities [Abstract]
Securities weighted average term to maturity					10 years 7 months 6 days
Weighted average estimated duration		1 year
Proceeds from sales of mortgage backed securities available-for-sale		$ 0		0	$ 0		0
Agency Collateralized Mortgage Obligation ("CMO") [Member]
Investment Securities Available-for-sale [Abstract]
Amortized Cost		3,207	[1]		3,207	[1]		3,247	[2]
Gross Unrealized Gains		0			0			0
Gross Unrealized Losses		(54)			(54)			(61)
Fair Value		3,153			$ 3,153			$ 3,186
Investment and Mortgage-Backed Securities [Abstract]
Securities weighted average term to maturity					2 years 7 months 6 days
Proceeds from sales of mortgage backed securities available-for-sale		0		0	$ 0		0
Trading Securities [Member]
Investment and Mortgage-Backed Securities [Abstract]
Proceeds from the sales of trading securities		$ 4,544		$ 3,648	4,544		3,648
Gross gains recognized on sale of trading securities					63		3
Gross losses recognized on sale of trading securities					$ 25		$ 45
[1]	Amount represents the purchase amortized / historical cost less any OTTI charges (credit or non-credit related) previously recognized. For the TRUP CDOs, amount is also net of the $708 unamortized portion of the unrealized loss that was recognized in accumulated other comprehensive loss on September 1, 2008 (the day on which these securities were transferred from available-for-sale to held-to-maturity).
[2]	Amount represents the purchase amortized / historical cost less any OTTI charges (credit or non-credit related) previously recognized. For the TRUP CDOs, amount is also net of the $755 unamortized portion of the unrealized loss that was recognized in accumulated other comprehensive loss on September 1, 2008 (the day on which these securities were transferred from available-for-sale to held-to-maturity).
[3]	The Company sold its TRUP CDOs in August 2017, refer to Note 16 - Subsequent Events.

INVESTMENT AND MORTGAGE-BACKE46

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Continuous Unrealized Loss Position (Details) $ in Thousands	Jun. 30, 2017USD ($)Security	Dec. 31, 2016USD ($)
Pooled Bank Trust Preferred Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of TRUP securities not deemed having OTTI | Security	1
Number of TRUP securities deemed have OTTI | Security	1
Held-to-Maturity Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	$ 0	$ 0
12 Consecutive Months or Longer	2,549	2,439
Total	2,549	2,439
Held-to-Maturity Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	0	0
12 Consecutive Months or Longer	91	303
Total	91	303
Registered Mutual Funds [Member]
Available-for-Sale Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	1,099	1,308
12 Consecutive Months or Longer	1,595	1,747
Total	2,694	3,055
Available-for-Sale Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	25	47
12 Consecutive Months or Longer	56	131
Total	81	178
Agency Collateralized Mortgage Obligation ("CMO") [Member]
Available-for-Sale Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	0	3,186
12 Consecutive Months or Longer	3,153	0
Total	3,153	3,186
Available-for-Sale Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	0	61
12 Consecutive Months or Longer	54	0
Total	$ 54	$ 61

INVESTMENT AND MORTGAGE-BACKE47

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Reconciliation of Pre-Tax OTTI Charges Recognized (Details) - Pooled Bank Trust Preferred Securities [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
OTTI Credit and Non-Credit Losses Recognized in Earnings and AOCI [Abstract]
Cumulative pre-tax balance at the beginning of the period	$ 9,123	$ 9,261	$ 9,157	$ 9,295
Amortization of previously recognized OTTI	(35)	(34)	(69)	(68)
Cumulative pre-tax balance at end of the period	9,088	9,227	9,088	9,227
Credit Related OTTI [Member]
OTTI Credit and Non-Credit Losses Recognized in Earnings and AOCI [Abstract]
Cumulative pre-tax balance at the beginning of the period	8,587	8,691	8,613	8,717
Amortization of previously recognized OTTI	(26)	(26)	(52)	(52)
Cumulative pre-tax balance at end of the period	8,561	8,665	8,561	8,665
Non-Credit Related OTTI [Member]
OTTI Credit and Non-Credit Losses Recognized in Earnings and AOCI [Abstract]
Cumulative pre-tax balance at the beginning of the period	536	570	544	578
Amortization of previously recognized OTTI	(9)	(8)	(17)	(16)
Cumulative pre-tax balance at end of the period	$ 527	$ 562	$ 527	$ 562

DERIVATIVES AND HEDGING ACTIV48

DERIVATIVES AND HEDGING ACTIVITIES, Classification on Consolidated Statements of Financial Condition (Details) - Designated as Hedging Instrument [Member] $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)DerivativeInstrument	Jun. 30, 2017USD ($)DerivativeInstrument	Dec. 31, 2016USD ($)DerivativeInstrument
Fair Value of Derivative Financial Instruments [Abstract]
Weighted average pay rates	1.46%	1.46%	1.24%
Weighted average receive rates	1.22%	1.22%	0.95%
Weighted average maturity		4 years 9 months 14 days	5 years 3 months 25 days
Interest Rate Products [Member]
Fair Value of Derivative Financial Instruments [Abstract]
Hedge ineffectiveness	$ 0	$ 0
Estimated reclassification increase to interest expense during next twelve months	$ 52	$ 52
Interest Rate Swaps Related to FHLBNY Advances [Member]
Fair Value of Derivative Financial Instruments [Abstract]
Count | DerivativeInstrument	7	7	4
Notional amount	$ 135,000	$ 135,000	$ 90,000
Fair value assets	2,898	2,898	3,228
Fair value liabilities	$ (87)	$ (87)	$ 0

DERIVATIVES AND HEDGING ACTIV49

DERIVATIVES AND HEDGING ACTIVITIES, Effect on Consolidated Statements of Income (Details) - Interest Rate Products [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Non-Interest Expense [Member]
Gain (Loss) on Derivative Financial Instruments [Abstract]
Amount of gain or (loss) recognized (ineffective portion)	$ 0	$ 0	$ 0	$ 0
Other Comprehensive Income [Member]
Gain (Loss) on Derivative Financial Instruments [Abstract]
Amount of gain (loss) recognized (effective portion)	(825)	(998)	(597)	(998)
Other Comprehensive Income [Member] | Interest Expense [Member]
Gain (Loss) on Derivative Financial Instruments [Abstract]
Amount of gain or (loss) reclassified (effective portion	$ (92)	$ (41)	$ (179)	$ (41)

DERIVATIVES AND HEDGING ACTIV50

DERIVATIVES AND HEDGING ACTIVITIES, Offsetting of Derivative Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)Provision
DERIVATIVES AND HEDGING ACTIVITIES [Abstract]
Fair value of derivative liability, including accrued interest | $	$ 2,791
Number of provisions breached | Provision	0

FAIR VALUE OF FINANCIAL INSTR51

FAIR VALUE OF FINANCIAL INSTRUMENTS, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) $ in Thousands	Jun. 30, 2017USD ($)Security	Dec. 31, 2016USD ($)Security
Financial Liabilities [Abstract]
Impaired loans measured at fair value	$ 0	$ 0
Trust Preferred Securities, Number | Security	7	7
Recurring [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	$ 437	$ 873
International Equity Mutual Funds	114	213
Fixed Income Mutual Funds	2,136	5,867
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	1,456	1,356
International Equity Mutual Funds	429	377
Fixed Income Mutual Funds	2,164	2,162
Pass-through MBS issued by GSEs	343	372
Agency CMOs	3,153	3,186
Derivative - interest rate product	2,898	3,228
Financial Liabilities [Abstract]
Derivative - interest rate product	87
Recurring [Member] | Level 1 Inputs [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	437	873
International Equity Mutual Funds	114	213
Fixed Income Mutual Funds	2,136	5,867
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	1,456	1,356
International Equity Mutual Funds	429	377
Fixed Income Mutual Funds	2,164	2,162
Pass-through MBS issued by GSEs	0	0
Agency CMOs	0	0
Derivative - interest rate product	0	0
Financial Liabilities [Abstract]
Derivative - interest rate product	0
Recurring [Member] | Level 2 Inputs [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	0	0
International Equity Mutual Funds	0	0
Fixed Income Mutual Funds	0	0
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	0	0
International Equity Mutual Funds	0	0
Fixed Income Mutual Funds	0	0
Pass-through MBS issued by GSEs	343	372
Agency CMOs	3,153	3,186
Derivative - interest rate product	2,898	3,228
Financial Liabilities [Abstract]
Derivative - interest rate product	87
Recurring [Member] | Level 3 Inputs [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	0	0
International Equity Mutual Funds	0	0
Fixed Income Mutual Funds	0	0
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	0	0
International Equity Mutual Funds	0	0
Fixed Income Mutual Funds	0	0
Pass-through MBS issued by GSEs	0	0
Agency CMOs	0	0
Derivative - interest rate product	0	0
Financial Liabilities [Abstract]
Derivative - interest rate product	0
Nonrecurring [Member]
Financial Liabilities [Abstract]
Assets measured at fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR52

FAIR VALUE OF FINANCIAL INSTRUMENTS, Balance Sheet Groupings (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financial Assets [Abstract]
TRUP CDOs	$ 8,385	$ 7,296
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and due from banks	110,044	113,503
TRUP CDOs	5,315	5,378
Loans, net	5,854,896	5,615,886
Accrued interest receivable	16,124	15,647
FHLBNY capital stock	50,961	44,444
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,521,854	3,346,961
Certificates of Deposit ("CDs")	896,626	1,048,465
Escrow and other deposits	91,196	103,001
FHLBNY Advances	944,575	831,125
Subordinated debt	113,545
Trust preferred securities payable	70,680	70,680
Accrued interest payable	2,289	2,080
Fair Value [Member]
Financial Assets [Abstract]
Cash and due from banks	110,044	113,503
TRUP CDOs	8,385	7,296
Loans, net	5,845,003	5,609,034
Accrued interest receivable	16,124	15,647
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,521,854	3,346,961
Certificates of Deposit ("CDs")	899,111	1,054,131
Escrow and other deposits	91,196	103,001
FHLBNY Advances	943,875	831,951
Subordinated debt	114,695
Trust preferred securities payable	70,680	69,973
Accrued interest payable	2,289	2,080
Fair Value [Member] | Level 1 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	110,044	113,503
TRUP CDOs	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,521,854	3,346,961
Certificates of Deposit ("CDs")	0	0
Escrow and other deposits	91,196	103,001
FHLBNY Advances	0	0
Subordinated debt	0
Trust preferred securities payable	70,680	0
Accrued interest payable	0	0
Fair Value [Member] | Level 2 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	0	0
TRUP CDOs	0	0
Loans, net	0	0
Accrued interest receivable	12	11
Financial Liabilities [Abstract]
Savings, money market and checking accounts	0	0
Certificates of Deposit ("CDs")	899,111	1,054,131
Escrow and other deposits	0	0
FHLBNY Advances	943,875	831,951
Subordinated debt	114,695
Trust preferred securities payable	0	69,973
Accrued interest payable	2,289	2,080
Fair Value [Member] | Level 3 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	0	0
TRUP CDOs	8,385	7,296
Loans, net	5,845,003	5,609,034
Accrued interest receivable	16,112	15,636
Financial Liabilities [Abstract]
Savings, money market and checking accounts	0	0
Certificates of Deposit ("CDs")	0	0
Escrow and other deposits	0	0
FHLBNY Advances	0	0
Subordinated debt	0
Trust preferred securities payable	0	0
Accrued interest payable	$ 0	$ 0

RETIREMENT AND POSTRETIREMENT53

RETIREMENT AND POSTRETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
BMP, Employee and Outside Director Retirement Plans [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	329	343	658	686
Expected return on assets	(395)	(383)	(790)	(766)
Unrecognized past service liability	0	0	0	0
Amortization of unrealized loss (gain)	359	428	718	858
Net periodic cost	293	388	586	778
Postretirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	0	0	0	0
Interest cost	14	16	28	32
Expected return on assets	0	0	0	0
Unrecognized past service liability	(2)	(2)	(4)	(4)
Amortization of unrealized loss (gain)	(1)	(1)	(2)	(2)
Net periodic cost	11	$ 13	22	$ 26
Estimated employer contributions or benefit payments					$ 113
Contributions by employer	42		77
Employee Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					15
Contributions by employer	8		12
BMP Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					725
Contributions by employer	69		104
Lump-sum distribution for retired participant			$ 121
Distribution of common stock (in shares)			4,282
Component held by ESOP			$ 84
Benefit held by defined contribution plan			37
Tax benefit from market valuation adjustment on distribution of ESOP shares			8
Outside Director Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					$ 208
Contributions by employer	$ 56		$ 97

SUBORDINATED NOTES PAYABLE (Det

SUBORDINATED NOTES PAYABLE (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Subordinated note issued	$ 113,545	$ 0
Interest rate	7.00%
Subordinated Debt [Member]
Debt Instrument [Line Items]
Subordinated note issued	$ 115,000
Subordinated debt, Due date	Jun. 30, 2027
Subordinated debt, Maturity date	Jun. 15, 2027
Interest rate	4.50%
Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	2.66%

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	Mar. 16, 2016USD ($)	Jun. 30, 2017USD ($)Item	Jun. 30, 2016USD ($)Item	Jun. 30, 2017USD ($)Item	Jun. 30, 2016USD ($)Item
INCOME TAXES [Abstract]
Effective tax rates		37.80%	42.20%	38.00%	42.20%
Gain on sale of real estate | $	$ 68,183	$ 0	$ (4)	$ 0	$ 68,183
Number of significant and unusual income tax items in the period | Item		0	0	0	0

PREMISES HELD FOR SALE (Details

PREMISES HELD FOR SALE (Details) - USD ($) $ in Thousands	Mar. 16, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Apr. 14, 2016	Dec. 31, 2015
PREMISES HELD FOR SALE [Abstract]
Premises held for sale with aggregate recorded balance		$ 1,379		$ 1,379		$ 1,379		$ 8,799
Net gain on the sale of premises held for sale	$ 68,183	$ 0	$ (4)	$ 0	$ 68,183
Aggregate purchase price under purchase and sale agreement							$ 12,300

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	Aug. 07, 2017	Jul. 17, 2017	Jun. 30, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Trust Preferred securities redeemed			$ 70,680	$ 70,680
Subsequent Event [Member]
Subsequent Event [Line Items]
Trust Preferred securities redeemed		$ 70,680
TRUP CDOs [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from sale of securities	$ 5,315
Pre-tax gain from sale of securities	$ 3,850