Dime Community Bancshares 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 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		37,422,884
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS:
Cash and due from banks	$ 173,060	$ 113,503
Investment securities held-to-maturity (estimated fair value of $7,296 at December 31, 2016) (Fully unencumbered)	0	5,378
Investment securities available-for-sale, at fair value (Fully unencumbered)	4,034	3,895
Mortgage-backed securities ("MBS") available-for-sale, at fair value (Fully unencumbered)	27,381	3,558
Trading Securities	2,675	6,953
Loans:
Real estate, net	5,866,567	5,633,007
Commercial and industrial ("C&I") loans	111,099	2,058
Other loans	1,092	1,357
Less allowance for loan losses	(22,007)	(20,536)
Total loans, net	5,956,751	5,615,886
Premises and fixed assets, net	22,968	18,405
Premises held for sale	1,379	1,379
Federal Home Loan Bank of New York ("FHLBNY") capital stock	61,833	44,444
Bank Owned Life Insurance ("BOLI")	87,982	86,328
Goodwill	55,638	55,638
Other assets	50,728	50,063
Total Assets	6,444,429	6,005,430
Due to depositors:
Interest bearing deposits	4,062,067	4,097,992
Non-interest bearing deposits	309,126	297,434
Total deposits	4,371,193	4,395,426
Escrow and other deposits	117,765	103,001
FHLBNY advances	1,217,500	831,125
Subordinated notes payable, net	113,575	0
Trust Preferred securities payable	0	70,680
Other liabilities	38,359	39,330
Total Liabilities	5,858,392	5,439,562
Stockholders' Equity:
Preferred stock ($0.01 par, 9,000,000 shares authorized, none issued or outstanding at September 30, 2017 and December 31, 2016)	0	0
Common stock ($0.01 par, 125,000,000 shares authorized, 53,617,919 shares and 53,572,745 shares issued at September 30, 2017 and December 31, 2016, respectively, and 37,422,884 shares and 37,455,853 shares outstanding at September 30, 2017 and December 31, 2016, respectively)	536	536
Additional paid-in capital	276,674	278,356
Retained earnings	524,237	503,539
Accumulated other comprehensive loss, net of deferred taxes	(4,711)	(5,939)
Unearned stock award common stock	(3,536)	(1,932)
Holding Company common stock held by Benefit Maintenance Plan ("BMP")	(2,736)	(6,859)
Treasury stock, at cost (16,195,035 shares and 16,116,892 shares at September 30, 2017 and December 31, 2016, respectively)	(204,427)	(201,833)
Total Stockholders' Equity	586,037	565,868
Total Liabilities And Stockholders' Equity	$ 6,444,429	$ 6,005,430

CONSOLIDATED STATEMENTS OF FIN3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS:
Investment securities held to maturity, fair value		$ 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)	53,617,919	53,572,745
Common stock, shares outstanding (in shares)	37,422,884	37,455,853
Treasury stock (in shares)	16,195,035	16,116,892

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Loans secured by real estate	$ 51,621	$ 48,090	$ 153,233	$ 141,099
C&I loans	1,043	10	1,558	20
Other loans	19	18	55	56
MBS	27	2	55	6
Investment securities	108	129	462	567
Other short-term investments	811	707	2,139	2,089
Total interest income	53,629	48,956	157,502	143,837
Interest expense:
Deposits and escrow	9,408	8,635	28,424	23,026
Borrowed funds	5,763	4,974	15,080	15,223
Total interest expense	15,171	13,609	43,504	38,249
Net interest income	38,458	35,347	113,998	105,588
Provision for loan losses	23	1,168	1,520	1,589
Net interest income after provision for loan losses	38,435	34,179	112,478	103,999
Non-interest income:
Service charges and other fees	948	1,123	2,661	2,566
Net mortgage banking income	69	16	150	71
Net gain on securities and other assets	2,635	69	2,769	148
Net gain on the sale of premises held for sale	0	0	0	68,183
Income from BOLI	558	570	1,654	2,173
Other	73	293	574	976
Total non-interest income	4,283	2,071	7,808	74,117
Non-interest expense:
Salaries and employee benefits	8,593	8,616	27,577	26,132
Employee Stock Option Plan ("ESOP") & restricted stock award ("RSA") benefit expense	353	815	1,030	2,539
Occupancy and equipment	3,492	3,250	10,620	8,992
Data processing costs	3,392	1,284	6,502	3,735
Marketing	1,467	922	4,399	3,278
Federal deposit insurance premiums	875	613	2,242	1,933
Loss from extinguishment of debt	1,272	0	1,272	0
Other	2,731	2,732	8,771	7,584
Total non-interest expense	22,175	18,232	62,413	54,193
Income before income taxes	20,543	18,018	57,873	123,923
Income tax expense	7,230	7,481	21,414	52,141
Net income	$ 13,313	$ 10,537	$ 36,459	$ 71,782
Earnings per Share:
Basic (in dollars per share)	$ 0.36	$ 0.29	$ 0.97	$ 1.95
Diluted (in dollars per share)	$ 0.35	$ 0.29	$ 0.97	$ 1.95

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Net Income	$ 13,313	$ 10,537	$ 36,459	$ 71,782
Other comprehensive income:
Change in unrealized holding loss on securities held-to-maturity and transferred securities	1,235	21	1,299	62
Change in unrealized holding loss on securities available-for-sale	27	107	251	169
Change in pension and other postretirement obligations	355	425	1,012	1,275
Change in unrealized gain on derivatives	92	708	(326)	(249)
Other comprehensive gain before income taxes	1,709	1,261	2,236	1,257
Deferred tax expense	773	568	1,008	566
Other comprehensive income, net of tax	936	693	1,228	691
Total comprehensive income	$ 14,249	$ 11,230	$ 37,687	$ 72,473

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	71,782	0	0	0	0	0	71,782
Other comprehensive income (loss), net of tax	0	0	0	691	0	0	0	0	691
Exercise of stock options, net of expired options	$ 2	2,799	0	0	0	0	0	0	2,801
Exercise of stock options, net of expired options (in shares)	193,828
Release of shares, net of forfeitures	$ 0	650	0	0	0	(807)	(222)	707	328
Release of shares, net of forfeitures (in shares)	85,040
Stock-based compensation	$ 0	980	0	0	173	775	0	349	2,277
Shares received to satisfy distribution of retirement benefits	$ 0	(2,717)	0	0	0	0	2,717	(1,820)	(1,820)
Shares received to satisfy distribution of retirement benefits (in shares)	(107,008)
Tax benefit from market valuation adjustment on distribution of ESOP shares	$ 0	717	0	0	0	0	0	0	717
Cash dividends declared and paid, net	0	0	(15,432)	0	0	0	0	0	(15,432)
Balance at Sep. 30, 2016	$ 535	265,227	507,956	(8,110)	(2,140)	(2,303)	(6,859)	(199,015)	555,291
Balance (in shares) at Sep. 30, 2016	37,543,852
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	36,459	0	0	0	0	0	36,459
Other comprehensive income (loss), net of tax	0	0	0	1,228	0	0	0	0	1,228
Exercise of stock options, net of expired options	$ 0	680	0	0	0	0	0	0	680
Exercise of stock options, net of expired options (in shares)	45,174
Release of shares, net of forfeitures	$ 0	1,325	0	0	0	(2,874)	(170)	1,917	198
Release of shares, net of forfeitures (in shares)	152,215
Stock-based compensation	$ 0	0	0	0	0	1,270	0	0	1,270
Shares received to satisfy distribution of retirement benefits	$ 0	(3,687)	0	0	0	0	4,293	(4,511)	(3,905)
Shares received to satisfy distribution of retirement benefits (in shares)	(230,358)
Cash dividends declared and paid, net	$ 0	0	(15,761)	0	0	0	0	0	(15,761)
Balance at Sep. 30, 2017	$ 536	$ 276,674	$ 524,237	$ (4,711)	$ 0	$ (3,536)	$ (2,736)	$ (204,427)	$ 586,037
Balance (in shares) at Sep. 30, 2017	37,422,884

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 36,459	$ 71,782
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain recognized on trading securities	(162)	0
Net gain on held-to-maturity securities	(2,607)	(108)
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	2,697	1,611
Stock plan compensation (excluding ESOP)	1,270	1,435
ESOP compensation expense	0	842
Provision for loan losses	1,520	1,589
Loss from extinguishment of debt	1,272	0
Increase in cash surrender value of BOLI	(1,654)	(1,689)
Income recognized from mortality benefit on BOLI	0	(484)
Deferred income tax provision (credit)	(2,869)	(1,993)
Reduction in credit related other than temporary impairment ("OTTI") amortized through interest income	(60)	(78)
Excess tax benefit from stock benefit plans	0	(142)
Changes in assets and liabilities:
Decrease (increase) in other assets	(351)	2,999
Decrease in other liabilities	(10)	(1,220)
Net cash provided by Operating activities	35,505	6,321
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of investment securities held to maturity	9,167	0
Purchases of investment securities available-for-sale	(53)	(2)
Proceeds from sales of investment securities available-for-sale	240	0
Purchases of MBS available-for-sale	(23,995)	(3,267)
Proceeds from calls and principal repayments of MBS available-for-sale	38	45
Purchases of trading securities	(189)	(229)
Proceeds from the sales of trading securities	4,629	3,648
Purchases of loans	0	(157,782)
Proceeds from the sale of loans	4,471	0
Loans originated, net of repayments	(346,856)	(635,662)
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	(7,024)	(2,397)
Redemption (purchase) of FHLBNY capital stock, net	(17,345)	11,974
Net cash used in Investing Activities	(376,917)	(706,178)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (decrease) in due to depositors	(24,233)	974,954
Increase in escrow and other deposits	14,764	40,179
Repayments of FHLBNY advances	(3,044,575)	(2,892,500)
Proceeds from FHLBNY advances	3,430,950	2,607,900
Proceeds from exercise of stock options	680	2,900
Excess tax benefit from stock benefit plans	0	142
Release of stock for benefit plan awards	198	250
BMP ESOP shares received to satisfy distribution of retirement benefits	(3,905)	(1,820)
Cash dividends paid to stockholders	(15,761)	(15,432)
Repayments of Trust Preferred securities	(70,680)	0
Proceeds from Subordinated debt issuance, net	113,531	0
Net cash provided by Financing Activities	400,969	716,573
INCREASE IN CASH AND CASH EQUIVALENTS	59,557	16,716
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	113,503	64,154
CASH AND CASH EQUIVALENTS, END OF PERIOD	173,060	80,870
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	26,415	43,525
Cash paid for interest	42,794	38,216
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	50	36
Net decrease in non-credit component of OTTI	20	25
Transfer of portfolio loans to loans held-for-sale	4,471	0
Reductions for previous credit losses realized on securities sold	$ 1,229	$ 0

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2017
NATURE OF OPERATIONS [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Dime Community Bancshares (the “Company” or the “Holding 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 September 30, 2017, t engages in commercial banking and financial services. In 2004, the Company formed Dime Community Capital Trust I as a subsidiary, which issued $72,165 of 7.0% trust preferred securities. During the three-month period ended September 30, 2017, the Company fully redeemed the outstanding balance of $70,680, and dissolved the trust. The Company also dissolved 842 Manhattan Ave Corp. during the three-month period ended September 30, 2017 as this subsidiary was inactive. 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 (“GSEs”), 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	9 Months Ended
	Sep. 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 September 30, 2017 and December 31, 2016, the results of operations and statements of comprehensive income for the three-month and nine-month periods ended September 30, 2017 and 2016, and the changes in stockholders’ equity and cash flows for the nine-month periods ended September 30, 2017 and 2016. The results of operations for the three-month and nine-month period ended September 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 contained in our Annual Report on Form 10-K.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 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 December 15, 2017. We do not expect the new standard, or any of the amendments, to have a material impact to the consolidated financial statements as the majority of the Company’s revenue streams are not within the scope of Topic 606. The Company will continue evaluating the potential impact of ASU 2014-09 and the amendments on its consolidated financial statements and disclosures until its assessment has been finalized. 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 January 2017, the FASB issued ASU 2017-04 , Intangibles - Goodwill and Other (Topic 350). 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 In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 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 (loss) before reclassifications 39 133 - (313 ) (141 ) Amounts reclassified from accumulated other comprehensive loss 674 - 560 135 1,369 Net other comprehensive income (loss) during the period 713 133 560 (178 ) 1,228 Balance as of September 30, 2017 $ - $ 41 $ (6,350 ) $ 1,598 $ (4,711 ) Balance as of January 1, 2016 $ (760 ) $ (122 ) $ (7,919 ) $ - $ (8,801 ) Other comprehensive income (loss) before reclassifications 36 98 702 (163 ) 673 Amounts reclassified from accumulated other comprehensive loss - - - 18 18 Net other comprehensive income (loss) during the period 36 98 702 (145 ) 691 Balance as of September 30, 2016 $ (724 ) $ (24 ) $ (7,217 ) $ (145 ) $ (8,110 ) 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 held-to-maturity are included in the line entitled net gain on securities and other assets Three Months Ended September 30, Nine Months Ended September 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 $ 3 $ 9 $ 20 $ 25 Change in unrealized loss on securities transferred to held-to-maturity 3 12 50 37 Reclassification adjustment for net gains included in net gain on securities and other assets 1,229 - 1,229 - Net change 1,235 21 1,299 62 Tax expense 558 7 586 26 Net change in unrealized holding loss on securities held-to-maturity and transferred securities 677 14 713 36 Change in unrealized holding gain on securities available-for-sale: Change in net unrealized gain during the period 27 107 251 169 Tax expense 19 43 118 71 Net change in unrealized holding gain on securities available-for-sale 8 64 133 98 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in salaries and employee benefits expense 355 425 1,012 1,275 Tax expense 160 191 452 573 Net change in pension and other postretirement obligations 195 234 560 702 Change in unrealized loss on derivatives: Change in net unrealized loss during the period 24 717 (573 ) (281 ) Reclassification adjustment for expense included in interest expense 68 (9 ) 247 32 Net change 92 708 (326 ) (249 ) Tax expense (benefit) 36 327 (148 ) (104 ) Net change in unrealized loss on derivatives 56 381 (178 ) (145 ) Other comprehensive income $ 936 $ 693 $ 1,228 $ 691

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Sep. 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 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income per the Consolidated Statements of Income $ 13,313 $ 10,537 $ 36,459 $ 71,782 Less: Dividends paid and earnings allocated to participating securities (34 ) (26 ) (97 ) (85 ) Income attributable to common stock $ 13,279 $ 10,511 $ 36,362 $ 71,697 Weighted average common shares outstanding, including participating securities 37,528,933 36,910,594 37,627,568 36,904,324 Less: weighted average participating securities (162,074 ) (168,767 ) (169,797 ) (209,152 ) Weighted average common shares outstanding 37,366,859 36,741,827 37,457,771 36,695,172 Basic EPS $ 0.36 $ 0.29 $ 0.97 $ 1.95 Income attributable to common stock $ 13,279 $ 10,511 $ 36,362 $ 71,697 Weighted average common shares outstanding 37,366,859 36,741,827 37,457,771 36,695,172 Weighted average common equivalent shares outstanding 74,996 46,480 79,045 61,446 Weighted average common and equivalent shares outstanding 37,441,855 36,788,307 37,536,816 36,756,618 Diluted EPS $ 0.35 $ 0.29 $ 0.97 $ 1.95 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 nine-month periods ended September 30, 2017. There were 79,783 and 79,927 weighted-average stock options outstanding for the three-month and nine-month periods ended September 30, 2016, respectively, 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 expected aggregate LTIP share payout, see Note 6.

ACCOUNTING FOR STOCK BASED COMP

ACCOUNTING FOR STOCK BASED COMPENSATION	9 Months Ended
	Sep. 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 nine-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 (45,174 ) 15.09 Options outstanding at September 30, 2017 164,080 $ 15.59 1.9 $ 969 Options vested and exercisable at September 30, 2017 164,080 $ 15.59 1.9 $ 969 Information related to stock options during each period is as follows: At or for the Three Months Ended September 30, At or for the Nine Months Ended September 30, 2017 2016 2017 2016 Cash received for option exercise cost $ 54 $ 2,900 $ 680 $ 2,900 Income tax benefit recognized on stock option exercises (1) - 64 69 64 Intrinsic value of options exercised 10 - 286 732 (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 nine-month periods ended September 30, 2017 or 2016. All stock options are fully vested at both September 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 nine-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 (84,019 ) 16.36 Shares forfeited (30,578 ) 17.56 Unvested allocated shares at September 30, 2017 159,669 $ 18.80 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 September 30, At or for the Nine Months Ended September 30, 2017 2016 2017 2016 Compensation expense recognized $ 353 $ 366 $ 1,019 $ 1,195 Income tax benefit recognized on vesting of RSA (1) 3 - 119 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 September 30, 2017, unrecognized compensation cost relating to unvested restricted shares totaled $2,403. This amount will be recognized over a remaining weighted average period of 2.8 years. Performance Based Equity Awards The Company established the LTIP, a long term incentive award program for certain officers, which 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 (21,012 ) 18.94 Maximum aggregate share payout at September 30, 2017 75,694 $ 19.19 Minimum aggregate share payout - - Expected aggregate share payout 45,039 $ 19.43 Compensation expense recorded for performance based equity awards was $79 and $19 for the three-month periods ended September 30, 2017 and 2016, respectively. Compensation expense recorded for performance based equity awards was $251 and $67 for the nine-month periods ended September 30, 2017 and 2016, respectively.

LOANS RECEIVABLE AND CREDIT QUA

LOANS RECEIVABLE AND CREDIT QUALITY	9 Months Ended
	Sep. 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 September 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 September 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 September 30, 2017 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 65,182 $ 180 $ 1,157 $ - $ 66,519 Multifamily residential and residential mixed use 4,781,016 3,403 2,872 - 4,787,291 Commercial mixed use real estate 410,363 - 4,936 - 415,299 Commercial real estate 582,766 848 4,729 - 588,343 ADC 9,115 - - - 9,115 Total real estate 5,848,442 4,431 13,694 - 5,866,567 C&I 111,099 - - - 111,099 Total Real Estate and C&I $ 5,959,541 $ 4,431 $ 13,694 $ - $ 5,977,666 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 credit risk profile of C&I loans as of December 31, 2016 was included in the analysis of consumer loans. 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 September 30, 2017 Balance at December 31, 2016 (1) Performing $ 1,090 $ 3,414 Non-accrual 2 1 Total $ 1,092 $ 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 September 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 $ - $ 81 $ 371 $ 708 $ 1,160 $ 65,359 $ 66,519 Multifamily residential and residential mixed use - - - - - 4,787,291 4,787,291 Commercial mixed use real estate - - 523 96 619 414,680 415,299 Commercial real estate - - 2,412 - 2,412 585,931 588,343 ADC - - - - - 9,115 9,115 Total real estate $ - $ 81 $ 3,306 $ 804 $ 4,191 $ 5,862,376 $ 5,866,567 C&I $ - $ - $ 160 $ - $ 160 $ 110,939 $ 111,099 Consumer $ 3 $ - $ - $ 2 $ 5 $ 1,087 $ 1,092 (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 $ 2,713 $ 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 nine real estate and C&I loans with an aggregate outstanding balance of $3,466 at September 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 September 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 $ 395 2 $ 407 Multifamily residential and residential mixed use 3 629 3 658 Commercial mixed use real estate 1 4,197 1 4,261 Commercial real estate 1 3,313 1 3,363 Total real estate 7 $ 8,534 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 September 30, 2017 or December 31, 2016. The Company has not restructured any C&I or consumer loans, as these loan portfolios have not experienced any problem issues warranting restructuring. Therefore, all TDRs were collateralized by real estate at both September 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 ended September 30, 2017 or 2016, respectively, or the nine-month period ended September 30, 2017. The Company modified one one-to-four family residential loan in a manner that met the criteria of a TDR during the nine-month period ended September 30, 2016. The Bank’s allowance for loan losses at September 30, 2017 and December 31, 2016 did not reflect any allocated reserve associated with TDRs. As of September 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 nine-month periods ended September 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	9 Months Ended
	Sep. 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 September 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) non-impaired 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 September 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 September 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 nine month period ended September 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, location, etc.) 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 September 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. Reserve for Loan Commitments At both September 30, 2017 and December 30, 2016, respectively, the Bank maintained a reserve of $25,000 associated with unfunded loan commitments accepted by the borrower. This r The following tables present data regarding the allowance for loan losses activity for the periods indicated: At or for the Three Months Ended September 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 $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 Provision (credit) for loan losses (7 ) (709 ) 37 49 8 (622 ) 643 2 Charge-offs (2 ) (12 ) - - - (14 ) - - Recoveries 2 11 - - - 13 - - Ending balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 At or for the Three Months Ended September 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 $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 Provision (credit) for loan losses (48 ) 1,293 36 (115 ) 1,166 2 Charge-offs (4 ) (14 ) (8 ) - (26 ) (2 ) Recoveries - - - - - - Ending balance $ 140 $ 16,105 $ 1,712 $ 2,072 $ 20,029 $ 20 At or for the Nine Months Ended September 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 (30 ) 155 (254 ) (35 ) 14 (150 ) 1,666 4 Charge-offs (15 ) (104 ) - - - (119 ) - (5 ) Recoveries 15 56 4 - - 75 - - Ending balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 At or for the Nine Months Ended September 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 (94 ) 2,024 70 (412 ) 1,588 1 Charge-offs (31 ) (74 ) (10 ) - (115 ) (2 ) Recoveries 2 37 - 23 62 1 Ending balance $ 140 $ 16,105 $ 1,712 $ 2,072 $ 20,029 $ 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 dates indicated: At September 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 115 16,662 1,448 2,083 14 20,322 1,666 19 Total ending allowance balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 Loans: Individually evaluated for impairment $ 395 $ 629 $ 4,293 $ 3,313 $ - $ 8,630 $ - $ - Collectively evaluated for impairment 66,124 4,786,662 411,006 585,030 9,115 5,857,937 111,099 1,092 Total ending loans balance $ 66,519 $ 4,787,291 $ 415,299 $ 588,343 $ 9,115 $ 5,866,567 $ 111,099 $ 1,092 At 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 as of September 30, 2017 or December 31, 2016. The following tables summarize impaired real estate loans with no related allowance recorded as of the dates indicated (by collateral type within the real estate loan segment): At September 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 $ 395 $ 395 $ - $ 407 $ 407 $ - Multifamily Residential and Residential Mixed Use 629 629 - 3,333 3,333 - Commercial Mixed Use Real Estate 4,293 4,293 - 4,810 4,810 - Commercial Real Estate 3,313 3,313 - 3,363 3,363 - Total with no related allowance recorded $ 8,630 $ 8,630 $ - $ 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 September 30, Nine Months Ended September 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 $ 397 $ 7 $ 412 $ 6 $ 400 $ 21 $ 452 $ 47 Multifamily Residential and Residential Mixed Use 1,943 13 3,643 99 2,623 75 2,310 138 Commercial Mixed Use Real Estate 4,306 43 4,404 43 4,539 131 4,383 131 Commercial Real Estate 3,321 33 3,388 34 3,339 100 3,456 102 Ending balance $ 9,967 $ 96 $ 11,847 $ 182 $ 10,901 $ 327 $ 10,601 $ 418 (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	9 Months Ended
	Sep. 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) as of the dates indicated: At September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities available-for-sale: Registered Mutual Funds $ 3,824 $ 262 $ (52 ) $ 4,034 Pass-through MBS issued by GSEs 16,739 12 (67 ) 16,684 Agency Collateralized Mortgage Obligation (“CMO”) 10,766 1 (70 ) 10,697 Total investment securities available for sale $ 31,329 $ 275 $ (189 ) $ 31,415 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) At September 30, 2017 September 30, 2017 During the three-month period ended September 30, 2017, the Company sold its entire portfolio of investment securities held-to-maturity consisting of six TRUP CDO securities, of which five were deemed to be OTTI. The TRUP CDO portfolio was sold as part of the Company’s strategy to diversify of the Company’s balance sheet and take advantage of investment opportunities. The Company does not intent to classify any securities as held-to-maturity for the foreseeable future. The amortized cost of the TRUP CDO portfolio was $5,331 at the time of the sale. The amortized cost represents the purchase amortized/historical cost less $8,553 of OTTI charges previously recognized and $705 of the unamortized portion of unrealized losses that were 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). As a result of the sale, the pre-tax balances of both the unamortized portion of the unrealized losses at transfer to held-to-maturity of $705 and the unamortized portion of previous credit losses of $524 were reclassified out of accumulated comprehensive loss during the three and nine month periods ended September 30, 2017. Gross proceeds from the sale of the TRUP CDOs were $9,167 for the three and nine month periods ended September 30, 2017. Gross gains of $3,048 and gross losses of $441 were recognized on these sales. There were no sales of held-to-maturity securities during the three or nine month periods ended September 30, 2016. There were no sales of pass-through MBS issued by GSEs during the three-month or nine-month periods ended September 30, 2017 or 2016. There were no sales of agency collateralized mortgage obligation securities during the three-month or nine-month periods ended September 30, 2017 or 2016. The Company holds both registered mutual funds (as investment securities available-for-sale) and trading securities as the underlying investments of the BMP, held in a rabbi trust. The Company may sell either registered mutual funds or trading securities on a periodic basis in order to pay retirement benefits to plan retirees. There are no gains or losses recognized from the sales of registered mutual funds. A summary of the sales of registered mutual funds and trading securities is listed below for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Investment securities available-for-sale (Registered Mutual Funds): Proceeds $ 137 $ - $ 240 $ - Trading securities: Proceeds $ 85 $ - $ 4,629 $ 3,648 Gross gains 3 - 66 3 Gross losses - - 25 45 The remaining gain or loss on securities shown in the unaudited condensed consolidated statements of income during those periods resulted from market valuation changes or sales of trading securities. 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 as of the dates indicated: September 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 available-for-sale: Registered Mutual Funds $ 1,074 $ 21 $ 1,574 $ 31 $ 2,648 $ 52 Pass through MBS issued by GSEs 16,349 67 - - 16,349 67 Agency CMO 5,064 15 3,133 55 8,197 70 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 TRUP CDOs That Maintained an Unrealized Holding Loss for 12 or More Consecutive Months The Company sold its TRUP CDOs portfolio during the three-month period ended September 30, 2017. At December 31 , · Based upon an internal review of the collateral backing the TRUP CDO portfolio, which accounted for current and prospective deferrals, the securities could reasonably be expected to continue making all contractual payments · 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. The Company sold its entire TRUP CDO portfolio during the three-month period ended September 30, 2017. As of the date of the sale of the TRUP CDO portfolio, 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 September 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 $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227 Amortization of previously recognized OTTI (8 ) (3 ) (11 ) (26 ) (9 ) (35 ) Reductions for previous credit losses realized on securities sold during the year (8,553 ) (524 ) (9,077 ) - - - Cumulative pre-tax balance at end of the period $ - $ - $ - $ 8,639 $ 553 $ 9,192 Nine Months Ended September 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 (60 ) (20 ) (80 ) (78 ) (25 ) (103 ) Reductions for previous credit losses realized on securities sold during the year (8,553 ) (524 ) (9,077 ) - - - Cumulative pre-tax balance at end of the period $ - $ - $ - $ 8,639 $ 553 $ 9,192

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 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 nine-month periods ended September 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 $107 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 September 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 $ 2,973 $ (50 ) 4 $ 90,000 $ 3,228 $ - Weighted average pay rates 1.46 % 1.24 % Weighted average receive rates 1.32 % 0.95 % Weighted average maturity 4.54 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 September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate products Effective portion: Amount of gain (loss) recognized in other comprehensive income $ 24 $ 717 $ (573 ) $ (281 ) Amount of gain or (loss) reclassified from other comprehensive income into interest expense (68 ) (9 ) (247 ) 32 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 September 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 $2,894. If the Company had breached any of the above provisions at September 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 September 30, 2017.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 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 September 30, 2017 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 435 $ 435 $ - $ - International Equity Mutual Funds 115 115 - - Fixed Income Mutual Funds 2,125 2,125 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,479 1,479 - - International Equity Mutual Funds 441 441 - - Fixed Income Mutual Funds 2,114 2,114 - - Pass-through MBS issued by GSEs 16,684 - 16,684 - Agency CMOs 10,697 - 10,697 - Derivative – interest rate product 2,973 - 2,973 - Financial Liabilities Derivative – interest rate product $ 50 $ - $ 50 $ - 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 September 30, 2017 and December 31, 2016. Obtaining market values as of September 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 September 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 September 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 September 30, 2017 and December 31, 2016 were as follows: Fair Value Measurements at September 30, 2017 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 173,060 $ 173,060 $ - $ - $ 173,060 Loans, net 5,956,751 - - 5,946,931 5,946,931 Accrued interest receivable 16,793 - 58 16,735 16,793 FHLBNY capital stock 61,833 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,345,693 3,345,693 - - 3,345,693 Certificates of Deposits (“CDs”) 1,025,500 - 1,027,592 - 1,027,592 Escrow and other deposits 117,765 117,765 - - 117,765 FHLBNY Advances 1,217,500 - 1,215,706 - 1,215,706 Subordinated debt, net 113,575 - 115,875 - 115,875 Accrued interest payable 2,759 - 2,759 - 2,759 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	9 Months Ended
	Sep. 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 September 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) 358 (1 ) 428 (1 ) Net periodic cost $ 292 $ 11 $ 388 $ 13 Nine Months Ended September 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 987 42 1,028 47 Expected return on assets (1,185 ) - (1,149 ) - Unrecognized past service liability - (6 ) - (6 ) Amortization of unrealized loss (gain) 1,076 (3 ) 1,284 (3 ) Net periodic cost $ 878 $ 33 $ 1,163 $ 38 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 $5 to the Employee Retirement Plan during the three months ended September 30, 2017, and $17 during the nine months ended September 30, 2017, which completes the anticipated contributions during 2017. The Company made benefit payments of $64 on behalf of the Outside Director Retirement Plan during the three months ended September 30, 2017, and $161 during the nine months ended September 30, 2017, and expects to make the remainder of the estimated net contributions or benefit payments during 2017. The Company made benefit payments totaling $48 on behalf of the Postretirement Plan during the three months ended September 30, 2017, and $125 during the nine months ended September 30, 2017, and expects to make any additional contributions or benefit payments required for 2017. The Company made benefit payments totaling $136 on behalf of the BMP during the three month period ended September 30, 2017, and $240 during nine months ended September 30, 2017, and expects to make $137 of the remaining 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 September 30, 2017, in addition to benefit payments from the defined benefit plan component of the BMP discussed above, two retired participants elected gross lump-sum distributions of $11,708. The distribution was satisfied by 360,822 shares of common stock (market value of $7,068) held by the ESOP component of the BMP and cash of $4,591 held by the defined contribution plan components of the BMP. As a result of the distribution, a non-cash tax benefit of $1,322 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	9 Months Ended
	Sep. 30, 2017
SUBORDINATED NOTES PAYABLE [Abstract]
SUBORDINATED NOTE PAYABLE	13. SUBORDINATED NOTES PAYABLE During the nine months ended September 30, 2017, the Holding Company issued $115,000 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.

TRUST PREFERRED SECURITIES PAYA

TRUST PREFERRED SECURITIES PAYABLE	9 Months Ended
	Sep. 30, 2017
TRUST PREFERRED SECURITIES PAYABLE [Abstract]
TRUST PREFERRED SECURITIES PAYABLE	14. TRUST PREFERRED SECURITIES PAYABLE On March 19, 2004, the Holding Company completed an offering of trust preferred securities through Dime Community Capital Trust I, an unconsolidated special purpose entity formed for the purpose of the offering. The trust preferred securities bear a fixed interest rate of 7.0%, mature on April 14, 2034, and became callable without penalty at any time on or after April 15, 2009. The outstanding balance of the trust preferred securities was $70,680 at December 31, 2016. During the three months ended September 30, 2017, the Company redeemed its $70,680 of trust preferred securities borrowings at par from third parties. The Company recognized a $1,272 loss from extinguishment of debt from the acceleration of the remaining unamortized deferred origination costs.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2017
INCOME TAXES [Abstract]
INCOME TAXES	15. INCOME TAXES During the three months ended September 30, 2017 and 2016, the Company’s consolidated effective tax rates were 35.2% and 41.5%, respectively. During the nine months ended September 30, 2017 and 2016, the Company’s consolidated effective tax rates were 37.0% and 42.1%, respectively. The higher consolidated tax rate during the three-month and nine-month periods ended September 30, 2016 was primarily the result of a $68,183 gain on sale of real estate transaction during the nine month period ended September 30, 2016. Additionally, during the three-month period ended September 30, 2017, the Company recognized an income tax benefit of $1,322 from the distribution of retirement benefits from the BMP taken as discrete items. The income tax benefit was partially offset by deferred tax expense of $476 to adjust the Company’s deferred tax asset during the three-month period ended September 30, 2017. There were no other significant unusual income tax items during the three-month or nine-month periods ended either September 30, 2017 or 2016.

PREMISES HELD FOR SALE

PREMISES HELD FOR SALE	9 Months Ended
	Sep. 30, 2017
PREMISES HELD FOR SALE [Abstract]
PREMISES HELD FOR SALE	16. 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 September 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 November 2017.

OTHER COMPREHENSIVE INCOME (L24

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 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 (loss) before reclassifications 39 133 - (313 ) (141 ) Amounts reclassified from accumulated other comprehensive loss 674 - 560 135 1,369 Net other comprehensive income (loss) during the period 713 133 560 (178 ) 1,228 Balance as of September 30, 2017 $ - $ 41 $ (6,350 ) $ 1,598 $ (4,711 ) Balance as of January 1, 2016 $ (760 ) $ (122 ) $ (7,919 ) $ - $ (8,801 ) Other comprehensive income (loss) before reclassifications 36 98 702 (163 ) 673 Amounts reclassified from accumulated other comprehensive loss - - - 18 18 Net other comprehensive income (loss) during the period 36 98 702 (145 ) 691 Balance as of September 30, 2016 $ (724 ) $ (24 ) $ (7,217 ) $ (145 ) $ (8,110 )
Component of Other Comprehensive Income (Loss)	Reclassification adjustments related to the defined benefit plan are included in the line entitled salaries and employee benefits. Reclassification adjustments related to the derivatives are included in the line entitled interest expense on borrowed funds. Three Months Ended September 30, Nine Months Ended September 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 $ 3 $ 9 $ 20 $ 25 Change in unrealized loss on securities transferred to held-to-maturity 3 12 50 37 Reclassification adjustment for net gains included in net gain on securities and other assets 1,229 - 1,229 - Net change 1,235 21 1,299 62 Tax expense 558 7 586 26 Net change in unrealized holding loss on securities held-to-maturity and transferred securities 677 14 713 36 Change in unrealized holding gain on securities available-for-sale: Change in net unrealized gain during the period 27 107 251 169 Tax expense 19 43 118 71 Net change in unrealized holding gain on securities available-for-sale 8 64 133 98 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in salaries and employee benefits expense 355 425 1,012 1,275 Tax expense 160 191 452 573 Net change in pension and other postretirement obligations 195 234 560 702 Change in unrealized loss on derivatives: Change in net unrealized loss during the period 24 717 (573 ) (281 ) Reclassification adjustment for expense included in interest expense 68 (9 ) 247 32 Net change 92 708 (326 ) (249 ) Tax expense (benefit) 36 327 (148 ) (104 ) Net change in unrealized loss on derivatives 56 381 (178 ) (145 ) Other comprehensive income $ 936 $ 693 $ 1,228 $ 691

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net income per the Consolidated Statements of Income $ 13,313 $ 10,537 $ 36,459 $ 71,782 Less: Dividends paid and earnings allocated to participating securities (34 ) (26 ) (97 ) (85 ) Income attributable to common stock $ 13,279 $ 10,511 $ 36,362 $ 71,697 Weighted average common shares outstanding, including participating securities 37,528,933 36,910,594 37,627,568 36,904,324 Less: weighted average participating securities (162,074 ) (168,767 ) (169,797 ) (209,152 ) Weighted average common shares outstanding 37,366,859 36,741,827 37,457,771 36,695,172 Basic EPS $ 0.36 $ 0.29 $ 0.97 $ 1.95 Income attributable to common stock $ 13,279 $ 10,511 $ 36,362 $ 71,697 Weighted average common shares outstanding 37,366,859 36,741,827 37,457,771 36,695,172 Weighted average common equivalent shares outstanding 74,996 46,480 79,045 61,446 Weighted average common and equivalent shares outstanding 37,441,855 36,788,307 37,536,816 36,756,618 Diluted EPS $ 0.35 $ 0.29 $ 0.97 $ 1.95

ACCOUNTING FOR STOCK BASED CO26

ACCOUNTING FOR STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 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 nine-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 (45,174 ) 15.09 Options outstanding at September 30, 2017 164,080 $ 15.59 1.9 $ 969 Options vested and exercisable at September 30, 2017 164,080 $ 15.59 1.9 $ 969
Information Related to Stock Option Plan	Information related to stock options during each period is as follows: At or for the Three Months Ended September 30, At or for the Nine Months Ended September 30, 2017 2016 2017 2016 Cash received for option exercise cost $ 54 $ 2,900 $ 680 $ 2,900 Income tax benefit recognized on stock option exercises (1) - 64 69 64 Intrinsic value of options exercised 10 - 286 732 (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 nine-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 (84,019 ) 16.36 Shares forfeited (30,578 ) 17.56 Unvested allocated shares at September 30, 2017 159,669 $ 18.80
Information Related to Restricted Stock Award Plan	Information related to RSAs during each period is as follows: At or for the Three Months Ended September 30, At or for the Nine Months Ended September 30, 2017 2016 2017 2016 Compensation expense recognized $ 353 $ 366 $ 1,019 $ 1,195 Income tax benefit recognized on vesting of RSA (1) 3 - 119 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 (21,012 ) 18.94 Maximum aggregate share payout at September 30, 2017 75,694 $ 19.19 Minimum aggregate share payout - - Expected aggregate share payout 45,039 $ 19.43

LOANS RECEIVABLE AND CREDIT Q27

LOANS RECEIVABLE AND CREDIT QUALITY (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 Pass Special Mention Substandard Doubtful Total Real Estate: One-to-four family residential, including condominium and cooperative apartment $ 65,182 $ 180 $ 1,157 $ - $ 66,519 Multifamily residential and residential mixed use 4,781,016 3,403 2,872 - 4,787,291 Commercial mixed use real estate 410,363 - 4,936 - 415,299 Commercial real estate 582,766 848 4,729 - 588,343 ADC 9,115 - - - 9,115 Total real estate 5,848,442 4,431 13,694 - 5,866,567 C&I 111,099 - - - 111,099 Total Real Estate and C&I $ 5,959,541 $ 4,431 $ 13,694 $ - $ 5,977,666 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 September 30, 2017 Balance at December 31, 2016 (1) Performing $ 1,090 $ 3,414 Non-accrual 2 1 Total $ 1,092 $ 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 September 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 $ - $ 81 $ 371 $ 708 $ 1,160 $ 65,359 $ 66,519 Multifamily residential and residential mixed use - - - - - 4,787,291 4,787,291 Commercial mixed use real estate - - 523 96 619 414,680 415,299 Commercial real estate - - 2,412 - 2,412 585,931 588,343 ADC - - - - - 9,115 9,115 Total real estate $ - $ 81 $ 3,306 $ 804 $ 4,191 $ 5,862,376 $ 5,866,567 C&I $ - $ - $ 160 $ - $ 160 $ 110,939 $ 111,099 Consumer $ 3 $ - $ - $ 2 $ 5 $ 1,087 $ 1,092 (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 $ 2,713 $ 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 September 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 $ 395 2 $ 407 Multifamily residential and residential mixed use 3 629 3 658 Commercial mixed use real estate 1 4,197 1 4,261 Commercial real estate 1 3,313 1 3,363 Total real estate 7 $ 8,534 7 $ 8,689

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 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 September 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 $ 122 $ 17,372 $ 1,411 $ 2,034 $ 6 $ 20,945 $ 1,023 $ 17 Provision (credit) for loan losses (7 ) (709 ) 37 49 8 (622 ) 643 2 Charge-offs (2 ) (12 ) - - - (14 ) - - Recoveries 2 11 - - - 13 - - Ending balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 At or for the Three Months Ended September 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 $ 192 $ 14,826 $ 1,684 $ 2,187 $ 18,889 $ 20 Provision (credit) for loan losses (48 ) 1,293 36 (115 ) 1,166 2 Charge-offs (4 ) (14 ) (8 ) - (26 ) (2 ) Recoveries - - - - - - Ending balance $ 140 $ 16,105 $ 1,712 $ 2,072 $ 20,029 $ 20 At or for the Nine Months Ended September 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 (30 ) 155 (254 ) (35 ) 14 (150 ) 1,666 4 Charge-offs (15 ) (104 ) - - - (119 ) - (5 ) Recoveries 15 56 4 - - 75 - - Ending balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 At or for the Nine Months Ended September 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 (94 ) 2,024 70 (412 ) 1,588 1 Charge-offs (31 ) (74 ) (10 ) - (115 ) (2 ) Recoveries 2 37 - 23 62 1 Ending balance $ 140 $ 16,105 $ 1,712 $ 2,072 $ 20,029 $ 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 dates indicated: At September 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 115 16,662 1,448 2,083 14 20,322 1,666 19 Total ending allowance balance $ 115 $ 16,662 $ 1,448 $ 2,083 $ 14 $ 20,322 $ 1,666 $ 19 Loans: Individually evaluated for impairment $ 395 $ 629 $ 4,293 $ 3,313 $ - $ 8,630 $ - $ - Collectively evaluated for impairment 66,124 4,786,662 411,006 585,030 9,115 5,857,937 111,099 1,092 Total ending loans balance $ 66,519 $ 4,787,291 $ 415,299 $ 588,343 $ 9,115 $ 5,866,567 $ 111,099 $ 1,092 At 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 dates indicated (by collateral type within the real estate loan segment): At September 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 $ 395 $ 395 $ - $ 407 $ 407 $ - Multifamily Residential and Residential Mixed Use 629 629 - 3,333 3,333 - Commercial Mixed Use Real Estate 4,293 4,293 - 4,810 4,810 - Commercial Real Estate 3,313 3,313 - 3,363 3,363 - Total with no related allowance recorded $ 8,630 $ 8,630 $ - $ 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 September 30, Nine Months Ended September 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 $ 397 $ 7 $ 412 $ 6 $ 400 $ 21 $ 452 $ 47 Multifamily Residential and Residential Mixed Use 1,943 13 3,643 99 2,623 75 2,310 138 Commercial Mixed Use Real Estate 4,306 43 4,404 43 4,539 131 4,383 131 Commercial Real Estate 3,321 33 3,388 34 3,339 100 3,456 102 Ending balance $ 9,967 $ 96 $ 11,847 $ 182 $ 10,901 $ 327 $ 10,601 $ 418 (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)	9 Months Ended
	Sep. 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) as of the dates indicated: At September 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Investment securities available-for-sale: Registered Mutual Funds $ 3,824 $ 262 $ (52 ) $ 4,034 Pass-through MBS issued by GSEs 16,739 12 (67 ) 16,684 Agency Collateralized Mortgage Obligation (“CMO”) 10,766 1 (70 ) 10,697 Total investment securities available for sale $ 31,329 $ 275 $ (189 ) $ 31,415 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 Sales of Registered Mutual Funds and Trading Securities	A summary of the sales of registered mutual funds and trading securities is listed below for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Investment securities available-for-sale (Registered Mutual Funds): Proceeds $ 137 $ - $ 240 $ - Trading securities: Proceeds $ 85 $ - $ 4,629 $ 3,648 Gross gains 3 - 66 3 Gross losses - - 25 45
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 as of the dates indicated: September 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 available-for-sale: Registered Mutual Funds $ 1,074 $ 21 $ 1,574 $ 31 $ 2,648 $ 52 Pass through MBS issued by GSEs 16,349 67 - - 16,349 67 Agency CMO 5,064 15 3,133 55 8,197 70 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 September 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 $ 8,561 $ 527 $ 9,088 $ 8,665 $ 562 $ 9,227 Amortization of previously recognized OTTI (8 ) (3 ) (11 ) (26 ) (9 ) (35 ) Reductions for previous credit losses realized on securities sold during the year (8,553 ) (524 ) (9,077 ) - - - Cumulative pre-tax balance at end of the period $ - $ - $ - $ 8,639 $ 553 $ 9,192 Nine Months Ended September 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 (60 ) (20 ) (80 ) (78 ) (25 ) (103 ) Reductions for previous credit losses realized on securities sold during the year (8,553 ) (524 ) (9,077 ) - - - Cumulative pre-tax balance at end of the period $ - $ - $ - $ 8,639 $ 553 $ 9,192

DERIVATIVES AND HEDGING ACTIV30

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 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 September 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 $ 2,973 $ (50 ) 4 $ 90,000 $ 3,228 $ - Weighted average pay rates 1.46 % 1.24 % Weighted average receive rates 1.32 % 0.95 % Weighted average maturity 4.54 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 September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Interest rate products Effective portion: Amount of gain (loss) recognized in other comprehensive income $ 24 $ 717 $ (573 ) $ (281 ) Amount of gain or (loss) reclassified from other comprehensive income into interest expense (68 ) (9 ) (247 ) 32 Ineffective Portion: Amount of gain or (loss) recognized in other non-interest expense - - - -

FAIR VALUE OF FINANCIAL INSTR31

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 Using Total Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial Assets Trading securities (Registered Mutual Funds): Domestic Equity Mutual Funds $ 435 $ 435 $ - $ - International Equity Mutual Funds 115 115 - - Fixed Income Mutual Funds 2,125 2,125 - - Investment securities available-for-sale: Registered Mutual Funds: Domestic Equity Mutual Funds 1,479 1,479 - - International Equity Mutual Funds 441 441 - - Fixed Income Mutual Funds 2,114 2,114 - - Pass-through MBS issued by GSEs 16,684 - 16,684 - Agency CMOs 10,697 - 10,697 - Derivative – interest rate product 2,973 - 2,973 - Financial Liabilities Derivative – interest rate product $ 50 $ - $ 50 $ - 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 September 30, 2017 and December 31, 2016 were as follows: Fair Value Measurements at September 30, 2017 Using Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Financial Assets Cash and due from banks $ 173,060 $ 173,060 $ - $ - $ 173,060 Loans, net 5,956,751 - - 5,946,931 5,946,931 Accrued interest receivable 16,793 - 58 16,735 16,793 FHLBNY capital stock 61,833 N/A N/A N/A N/A Financial Liabilities Savings, money market and checking accounts 3,345,693 3,345,693 - - 3,345,693 Certificates of Deposits (“CDs”) 1,025,500 - 1,027,592 - 1,027,592 Escrow and other deposits 117,765 117,765 - - 117,765 FHLBNY Advances 1,217,500 - 1,215,706 - 1,215,706 Subordinated debt, net 113,575 - 115,875 - 115,875 Accrued interest payable 2,759 - 2,759 - 2,759 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)	9 Months Ended
	Sep. 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 September 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) 358 (1 ) 428 (1 ) Net periodic cost $ 292 $ 11 $ 388 $ 13 Nine Months Ended September 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 987 42 1,028 47 Expected return on assets (1,185 ) - (1,149 ) - Unrecognized past service liability - (6 ) - (6 ) Amortization of unrealized loss (gain) 1,076 (3 ) 1,284 (3 ) Net periodic cost $ 878 $ 33 $ 1,163 $ 38

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)RetailBranchSubsidiaryTrust	Dec. 31, 2016USD ($)
NATURE OF OPERATIONS [Abstract]
Trust preferred securities issued	$ 72,165
Interest rate	7.00%
Trust preferred securities outstanding	$ 70,680	$ 70,680
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			$ 565,868	$ 493,947
Other comprehensive income (loss) before reclassifications			(141)	673
Amounts reclassified from accumulated other comprehensive loss			1,369	18
Other comprehensive income, net of tax	$ 936	$ 693	1,228	691
Balance	586,037	555,291	586,037	555,291
Accumulated Other Comprehensive Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(5,939)	(8,801)
Balance	(4,711)	(8,110)	(4,711)	(8,110)
Securities Held-to-Maturity and Transferred Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(713)	(760)
Other comprehensive income (loss) before reclassifications			39	36
Amounts reclassified from accumulated other comprehensive loss			674	0
Other comprehensive income, net of tax			713	36
Balance	0	(724)	0	(724)
Securities Available-for-Sale [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(92)	(122)
Other comprehensive income (loss) before reclassifications			133	98
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income, net of tax			133	98
Balance	41	(24)	41	(24)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(6,910)	(7,919)
Other comprehensive income (loss) before reclassifications			0	702
Amounts reclassified from accumulated other comprehensive loss			560	0
Other comprehensive income, net of tax			560	702
Balance	(6,350)	(7,217)	(6,350)	(7,217)
Derivative Asset [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			1,776	0
Other comprehensive income (loss) before reclassifications			(313)	(163)
Amounts reclassified from accumulated other comprehensive loss			135	18
Other comprehensive income, net of tax			(178)	(145)
Balance	$ 1,598	$ (145)	$ 1,598	$ (145)

OTHER COMPREHENSIVE INCOME (L35

OTHER COMPREHENSIVE INCOME (LOSS), Before and After Tax Amounts by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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	$ 3	$ 9	$ 20	$ 25
Change in unrealized loss on securities transferred to held-to-maturity	3	12	50	37
Reclassification adjustment for net gains included in net gain on securities and other assets	1,229	0	1,229	0
Net change	1,235	21	1,299	62
Tax expense	558	7	586	26
Net change in unrealized holding loss on securities held-to-maturity and transferred securities	677	14	713	36
Change in unrealized holding gain on securities available-for-sale [Abstract]
Change in net unrealized gain during the period	27	107	251	169
Tax expense	19	43	118	71
Net change in unrealized holding gain on securities available-for-sale	8	64	133	98
Change in pension and other postretirement obligations [Abstract]
Reclassification adjustment for expense included in salaries and employee benefits expense	355	425	1,012	1,275
Tax expense	160	191	452	573
Net change in pension and other postretirement obligations	195	234	560	702
Change in unrealized loss on derivatives:
Change in net unrealized loss during the period	24	717	(573)	(281)
Reclassification adjustment for expense included in interest expense	68	(9)	247	32
Net change	92	708	(326)	(249)
Tax expense (benefit)	36	327	(148)	(104)
Net change in unrealized loss on derivatives	56	381	(178)	(145)
Other comprehensive income, net of tax	$ 936	$ 693	$ 1,228	$ 691

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
EARNINGS PER SHARE ("EPS") [Abstract]
Net income per the Consolidated Statements of Income	$ 13,313	$ 10,537	$ 36,459	$ 71,782
Less: Dividends paid and earnings allocated to participating securities	(34)	(26)	(97)	(85)
Income attributable to common stock	$ 13,279	$ 10,511	$ 36,362	$ 71,697
Weighted average common shares outstanding, including participating securities (in shares)	37,528,933	36,910,594	37,627,568	36,904,324
Less: weighted average participating securities (in shares)	(162,074)	(168,767)	(169,797)	(209,152)
Weighted average common shares outstanding (in shares)	37,366,859	36,741,827	37,457,771	36,695,172
Basic EPS (in dollars per share)	$ 0.36	$ 0.29	$ 0.97	$ 1.95
Income attributable to common stock	$ 13,279	$ 10,511	$ 36,362	$ 71,697
Weighted average common shares outstanding (in shares)	37,366,859	36,741,827	37,457,771	36,695,172
Weighted average common equivalent shares outstanding (in shares)	74,996	46,480	79,045	61,446
Weighted average common and equivalent shares outstanding (in shares)	37,441,855	36,788,307	37,536,816	36,756,618
Diluted EPS (in dollars per share)	$ 0.35	$ 0.29	$ 0.97	$ 1.95
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	79,783	0	79,927

ACCOUNTING FOR STOCK BASED CO37

ACCOUNTING FOR STOCK BASED COMPENSATION, Stock Option Awards (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Information Related to Stock Option Plans [Abstract]
Cash received for option exercise cost				$ 680	$ 2,900
Stock Option Awards [Member]
Number of Options [Roll Forward]
Options outstanding, beginning of period (in shares)				209,254
Options granted (in shares)				0
Options exercised (in shares)				(45,174)
Options outstanding, end of period (in shares)		164,080		164,080
Options vested and exercisable, end of period (in shares)		164,080		164,080
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)				15.09
Options outstanding, end of period (in dollars per share)		$ 15.59		15.59
Options vested and exercisable. end of period (in dollars per shares)		$ 15.59		$ 15.59
Weighted-Average Remaining Contractual Years [Abstract]
Options outstanding				1 year 10 months 24 days
Options vested and exercisable				1 year 10 months 24 days
Aggregate Intrinsic Value [Abstract]
Options outstanding		$ 969		$ 969
Options vested and exercisable		969		969
Information Related to Stock Option Plans [Abstract]
Cash received for option exercise cost		54	$ 2,900	680	2,900
Income tax benefit recognized on stock option exercises	[1]	0	64	69	64
Intrinsic value of options exercised		$ 10	$ 0	$ 286	$ 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) - Restricted Stock Awards [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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)				(84,019)
Shares forfeited (in shares)				(30,578)
Unvested allocated shares outstanding, end of period (in shares)		159,669		159,669
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)				16.36
Shares forfeited (in dollars per share)				17.56
Unvested allocated shares outstanding, end of period (in dollars per share)		$ 18.80		$ 18.80
Compensation expense recognized		$ 353	$ 366	$ 1,019	$ 1,195
Income tax benefit recognized on vesting of RSA	[1]	3	$ 0	119	$ 78
Unrecognized compensation expense in period		$ 2,403		$ 2,403
Unrecognized compensation expense, period of recognition				2 years 9 months 18 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) - Performance Based Equity Awards [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
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	$ 79	$ 19	$ 251	$ 67
Number of Shares [Roll Forward]
Shares granted (in shares)			71,976
Shares forfeited (in shares)			(21,012)
Expected aggregate share payout (in shares)			45,039
Weighted-Average Grant-Date Fair Value [Abstract]
Shares granted (in dollars per share)			$ 19.75
Shares forfeited (in dollars per share)			18.94
Expected aggregate share payout (in dollars per share)			$ 19.43
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
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)	75,694		75,694
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)	$ 19.19		$ 19.19

LOANS RECEIVABLE AND CREDIT Q40

LOANS RECEIVABLE AND CREDIT QUALITY, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	$ 5,866,567	$ 5,633,007
C&I	111,099	2,058
Total Real Estate and C&I	5,977,666
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Real Estate and C&I	5,959,541
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Real Estate and C&I	4,431
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Real Estate and C&I	13,694
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Real Estate and C&I	0
Real Estate Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	5,866,567	5,633,007
Real Estate Loan [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	5,848,442	5,606,870
Real Estate Loan [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,431	4,760
Real Estate Loan [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	13,694	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	66,519	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	65,182	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	180	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	1,157	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	4,787,291	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	4,781,016	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	3,403	3,488
Real Estate Loan [Member] | Multifamily Residential and Residential Mixed Use [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	2,872	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	415,299	404,139
Real Estate Loan [Member] | Commercial Mixed Use Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	410,363	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	4,936	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	588,343	554,320
Real Estate Loan [Member] | Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	582,766	546,568
Real Estate Loan [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	848	525
Real Estate Loan [Member] | Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	4,729	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	9,115
Real Estate Loan [Member] | ADC [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Real estate loans	9,115
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	111,099	2,058
C & I Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
C&I	111,099
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	1,092	3,415	[1]
Consumer Loans [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Consumer loans	1,090	3,414	[1]
Consumer Loans [Member] | Non-Accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Consumer loans	$ 2	$ 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		9 Months Ended		12 Months Ended
		Sep. 30, 2017USD ($)Loan		Dec. 31, 2016USD ($)Loan
Financing Receivable, Recorded Investment, Aging [Abstract]
Real estate loans		$ 5,866,567		$ 5,633,007
C&I		$ 111,099		$ 2,058
Number of real estate loans more than 90 days past due on contractual balloon payment | Loan		9		4
Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		$ 804	[1]	$ 4,236	[2]
Total past due		4,191		9,226
Current		5,862,376		5,623,781
Real estate loans		5,866,567		5,633,007
Real Estate Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		1,920
Real Estate Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		81		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		3,306		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		708	[1]	1,012	[2]
Total past due		1,160		2,713
Current		65,359		71,309
Real estate loans		66,519		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		0		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		81		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		371		1,513
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		0	[1]	2,675	[2]
Total past due		0		4,232
Current		4,787,291		4,596,294
Real estate loans		4,787,291		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		0		1,557
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		96	[1]	549	[2]
Total past due		619		549
Current		414,680		403,590
Real estate loans		415,299		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		523		0
Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		0	[1]	0	[2]
Total past due		2,412		1,732
Current		585,931		552,588
Real estate loans		588,343		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		0		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		2,412		0
Real Estate Loans [Member] | ADC [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	[1]	0
Total past due		0
Current		9,115
Real estate loans		9,115
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		160		0
Current		110,939		2,058
C&I		111,099		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		160		0
Consumer [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual		2	[1]	1	[2]
Total past due		5		1
Current		1,087		1,356
Consumer loans		1,092		1,357
Consumer [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		0		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
Real Estate Loans and C & I Loans [Member] | Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due		$ 3,466		$ 3,070
[1]	Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of September 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		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)Loan	Sep. 30, 2016Loan	Sep. 30, 2017USD ($)Loan	Sep. 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	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 | $	$ 8,534		$ 8,534		$ 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 | $	395		$ 395		$ 407
Number of loans modified				1
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			3		3
Balance | $	629		$ 629		$ 658
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			1		1
Balance | $	4,197		$ 4,197		$ 4,261
Real Estate Loans [Member] | Commercial Real Estate [Member]
Troubled Debt Restructuring on Receivables [Abstract]
Number of loans			1		1
Balance | $	$ 3,313		$ 3,313		$ 3,363

ALLOWANCE FOR LOAN LOSSES, Allo

ALLOWANCE FOR LOAN LOSSES, Allowance by Class of Loan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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	23	$ 1,168	$ 1,520	$ 1,589
Unfunded Loan Commitment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allocated reserves related to TDRs	25,000		25,000		$ 25,000
Real Estate Loans [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	20,945	18,889	20,516	18,494	18,494
Provision (credit) for loan losses	(622)	1,166	(150)	1,588
Charge-offs	(14)	(26)	(119)	(115)
Recoveries	13	0	75	62
Ending balance	20,322	20,029	20,322	20,029	20,516
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	20,322		20,322		20,516
Loans [Abstract]
Individually evaluated for impairment	8,630		8,630		11,913
Collectively evaluated for impairment	5,857,937		5,857,937		5,621,094
Total ending allowance balance	5,866,567		5,866,567		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	122	192	145	263	263
Provision (credit) for loan losses	(7)	(48)	(30)	(94)
Charge-offs	(2)	(4)	(15)	(31)
Recoveries	2	0	15	2
Ending balance	115	140	115	140	145
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	115		115		145
Loans [Abstract]
Individually evaluated for impairment	395		395		407
Collectively evaluated for impairment	66,124		66,124		73,615
Total ending allowance balance	66,519		66,519		74,022
Real Estate Loans [Member] | Multifamily Residential and Residential Mixed Use [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	17,372	14,826	16,555	14,118	14,118
Provision (credit) for loan losses	(709)	1,293	155	2,024
Charge-offs	(12)	(14)	(104)	(74)
Recoveries	11	0	56	37
Ending balance	16,662	16,105	16,662	16,105	16,555
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	16,662		16,662		16,555
Loans [Abstract]
Individually evaluated for impairment	629		629		3,333
Collectively evaluated for impairment	4,786,662		4,786,662		4,597,193
Total ending allowance balance	4,787,291		4,787,291		4,600,526
Real Estate Loans [Member] | Commercial Mixed Use Real Estate [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	1,411	1,684	1,698	1,652	1,652
Provision (credit) for loan losses	37	36	(254)	70
Charge-offs	0	(8)	0	(10)
Recoveries	0	0	4	0
Ending balance	1,448	1,712	1,448	1,712	1,698
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,448		1,448		1,698
Loans [Abstract]
Individually evaluated for impairment	4,293		4,293		4,810
Collectively evaluated for impairment	411,006		411,006		399,329
Total ending allowance balance	415,299		415,299		404,139
Real Estate Loans [Member] | Commercial Real Estate [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	2,034	2,187	2,118	2,461	2,461
Provision (credit) for loan losses	49	(115)	(35)	(412)
Charge-offs	0	0	0	0
Recoveries	0	0	0	23
Ending balance	2,083	2,072	2,083	2,072	2,118
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	2,083		2,083		2,118
Loans [Abstract]
Individually evaluated for impairment	3,313		3,313		3,363
Collectively evaluated for impairment	585,030		585,030		550,957
Total ending allowance balance	588,343		588,343		554,320
Real Estate Loans [Member] | ADC [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	6		0
Provision (credit) for loan losses	8		14
Charge-offs	0		0
Recoveries	0		0
Ending balance	14		14		0
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	14		14
Loans [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	9,115		9,115
Total ending allowance balance	9,115		9,115
C & I [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	1,023		0
Provision (credit) for loan losses	643		1,666
Charge-offs	0		0
Recoveries	0		0
Ending balance	1,666		1,666		0
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,666		1,666		0
Loans [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	111,099		111,099		2,058
Total ending allowance balance	111,099		111,099		2,058
Consumer Loans [Member]
Allowance for credit losses [Roll Forward]
Beginning balance	17	20	20	20	20
Provision (credit) for loan losses	2	2	4	1
Charge-offs	0	(2)	(5)	(2)
Recoveries	0	0	0	1
Ending balance	19	$ 20	19	$ 20	20
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	19		19		20
Loans [Abstract]
Individually evaluated for impairment	0		0		0
Collectively evaluated for impairment	1,092		1,092		1,357
Total ending allowance balance	$ 1,092		$ 1,092		$ 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		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Unpaid Principal Balance [Abstract]
With no allowance reserve		$ 8,630		$ 8,630		$ 11,913
Recorded Investment [Abstract]
With no allowance reserve	[1]	8,630		8,630		11,913
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve	[1]	9,967	$ 11,847	10,901	$ 10,601
Interest Income Recognized [Abstract]
With no related allowance recorded		96	182	327	418
One- to Four-Family Residential, Including Condominium and Cooperative Apartment [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		395		395		407
Recorded Investment [Abstract]
With no allowance reserve	[1]	395		395		407
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve	[1]	397	412	400	452
Interest Income Recognized [Abstract]
With no related allowance recorded		7	6	21	47
Multifamily Residential And Residential Mixed Use Allowance [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		629		629		3,333
Recorded Investment [Abstract]
With no allowance reserve	[1]	629		629		3,333
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve	[1]	1,943	3,643	2,623	2,310
Interest Income Recognized [Abstract]
With no related allowance recorded		13	99	75	138
Commercial Mixed Use Real Estate [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		4,293		4,293		4,810
Recorded Investment [Abstract]
With no allowance reserve	[1]	4,293		4,293		4,810
Related Allowance [Abstract]
Related allowance		0		0		0
Average Recorded Investment [Abstract]
With no allowance reserve	[1]	4,306	4,404	4,539	4,383
Interest Income Recognized [Abstract]
With no related allowance recorded		43	43	131	131
Commercial Real Estate [Member]
Unpaid Principal Balance [Abstract]
With no allowance reserve		3,313		3,313		3,363
Recorded Investment [Abstract]
With no allowance reserve	[1]	3,313		3,313		3,363
Related Allowance [Abstract]
Related allowance		0		0		$ 0
Average Recorded Investment [Abstract]
With no allowance reserve	[1]	3,321	3,388	3,339	3,456
Interest Income Recognized [Abstract]
With no related allowance recorded		$ 33	$ 34	$ 100	$ 102
[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) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2017USD ($)Security	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Security	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Investment Securities Held-to-Maturity [Abstract]
Amortized Cost		$ 0		$ 0		$ 5,378
Fair Value						7,296
Investment Securities Available-for-sale [Abstract]
Amortized Cost		31,329		31,329		7,618	[1]
Gross Unrealized Gains		275		275		74
Gross Unrealized Losses		(189)		(189)		(239)
Fair Value		31,415		31,415		7,453
Total Investment Securities [Abstract]
Amortized Cost	[1]					12,996
Gross Unrealized Gains						2,295
Gross Unrealized Losses						(542)
Fair Value						14,749
Sale of TRUP CDO securities [Abstract]
Gross proceeds from sale of securities				9,167	$ 0
Investment securities available-for-sale (Registered Mutual Funds) [Abstract]
Proceeds				240	0
Trading securities [Abstract]
Proceeds				4,629	3,648
Pooled Bank Trust Preferred Securities [Member]
Investment Securities Held-to-Maturity [Abstract]
Amortized Cost	[1]					5,378
Gross Unrealized Gains						2,221
Gross Unrealized Losses						(303)
Fair Value						7,296
Sale of TRUP CDO securities [Abstract]
Unamortized portion of the unrealized loss amount recognized		$ 705		$ 705		755
Number of TRUP CDO securities deemed OTTI | Security		5		5
Amortized cost TRUP CDO portfolio		$ 5,331		$ 5,331
OTTI charges		8,553
Gross proceeds from sale of securities		9,167		9,167
Gross gains recognized from sale of securites		3,048		3,048
Gross losses recognized on sale of securites		411		411
Registered Mutual Funds [Member]
Investment Securities Available-for-sale [Abstract]
Amortized Cost		3,824		3,824		4,011	[1]
Gross Unrealized Gains		262		262		62
Gross Unrealized Losses		(52)		(52)		(178)
Fair Value		4,034		4,034		3,895
Investment securities available-for-sale (Registered Mutual Funds) [Abstract]
Proceeds		137	$ 0	240	0
Pass-through MBS Issued by Government Sponsored Entities ("GSEs") [Member]
Investment Securities Available-for-sale [Abstract]
Amortized Cost		16,739		16,739		360	[1]
Gross Unrealized Gains		12		12		12
Gross Unrealized Losses		(67)		(67)		0
Fair Value		16,684		$ 16,684		372
Investment and Mortgage-Backed Securities [Abstract]
Securities weighted average term to maturity				19 years 8 months 12 days
Weighted average estimated duration				3 years 2 months 12 days
Sale of TRUP CDO securities [Abstract]
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		10,766		10,766		3,247	[1]
Gross Unrealized Gains		1		1		0
Gross Unrealized Losses		(70)		(70)		(61)
Fair Value		10,697		$ 10,697		$ 3,186
Investment and Mortgage-Backed Securities [Abstract]
Securities weighted average term to maturity				16 years 8 months 12 days
Weighted average estimated duration				2 years 3 months 18 days
Sale of TRUP CDO securities [Abstract]
Proceeds from sales of mortgage backed securities available-for-sale		0	0	$ 0	0
Trading Securities [Member]
Trading securities [Abstract]
Proceeds		85	0	4,629	3,648
Gross gains		3	0	66	3
Gross losses		$ 0	$ 0	$ 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 $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).

INVESTMENT AND MORTGAGE-BACKE46

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)Security
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
12 Consecutive Months or Longer		2,439
Total		2,439
Held-to-Maturity Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months		0
12 Consecutive Months or Longer		303
Total		303
Registered Mutual Funds [Member]
Available-for-Sale Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	$ 1,074	1,308
12 Consecutive Months or Longer	1,574	1,747
Total	2,648	3,055
Available-for-Sale Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	21	47
12 Consecutive Months or Longer	31	131
Total	52	178
Pass-through MBS Issued by Government Sponsored Entities ("GSEs") [Member]
Available-for-Sale Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	16,349
12 Consecutive Months or Longer	0
Total	16,349
Available-for-Sale Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	67
12 Consecutive Months or Longer	0
Total	67
Agency Collateralized Mortgage Obligation ("CMO") [Member]
Available-for-Sale Securities, Fair Value [Abstract]
Less than 12 Consecutive Months	5,064	3,186
12 Consecutive Months or Longer	3,133	0
Total	8,197	3,186
Available-for-Sale Securities, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	15	61
12 Consecutive Months or Longer	55	0
Total	$ 70	$ 61

INVESTMENT AND MORTGAGE-BACKE47

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Reconciliation of Pre-Tax OTTI Charges Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
OTTI Credit and Non-Credit Losses Recognized in Earnings and AOCI [Abstract]
Reductions for previous credit losses realized on securities sold during the year			$ (1,229)	$ 0
Pooled Bank Trust Preferred Securities [Member]
OTTI Credit and Non-Credit Losses Recognized in Earnings and AOCI [Abstract]
Cumulative pre-tax balance at the beginning of the period	$ 9,088	$ 9,227	9,157	9,295
Amortization of previously recognized OTTI	(11)	(35)	(80)	(103)
Reductions for previous credit losses realized on securities sold during the year	(9,077)	0	(9,077)	0
Cumulative pre-tax balance at end of the period	0	9,192	0	9,192
Pooled Bank Trust Preferred Securities [Member] | 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	8,561	8,665	8,613	8,717
Amortization of previously recognized OTTI	(8)	(26)	(60)	(78)
Reductions for previous credit losses realized on securities sold during the year	(8,553)	0	(8,553)	0
Cumulative pre-tax balance at end of the period	0	8,639	0	8,639
Pooled Bank Trust Preferred Securities [Member] | 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	527	562	544	578
Amortization of previously recognized OTTI	(3)	(9)	(20)	(25)
Reductions for previous credit losses realized on securities sold during the year	(524)	0	(524)	0
Cumulative pre-tax balance at end of the period	$ 0	$ 553	$ 0	$ 553

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	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)DerivativeInstrument	Sep. 30, 2017USD ($)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	1.32%	1.32%	0.95%
Weighted average maturity		4 years 6 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	$ 107	$ 107
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	2,973	2,973	3,228
Fair value liabilities	$ (50)	$ (50)	$ 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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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)	24	717	(573)	(281)
Other Comprehensive Income [Member] | Interest Expense [Member]
Gain (Loss) on Derivative Financial Instruments [Abstract]
Amount of gain or (loss) reclassified (effective portion	$ (68)	$ (9)	$ (247)	$ 32

DERIVATIVES AND HEDGING ACTIV50

DERIVATIVES AND HEDGING ACTIVITIES, Offsetting of Derivative Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)Provision
DERIVATIVES AND HEDGING ACTIVITIES [Abstract]
Fair value of derivative liability, including accrued interest | $	$ 2,894
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	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)Security
Financial Liabilities [Abstract]
Impaired loans measured at fair value	$ 0	$ 0
Trust Preferred Securities, Number | Security		7
Recurring [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	435	$ 873
International Equity Mutual Funds	115	213
Fixed Income Mutual Funds	2,125	5,867
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	1,479	1,356
International Equity Mutual Funds	441	377
Fixed Income Mutual Funds	2,114	2,162
Pass-through MBS issued by GSEs	16,684	372
Agency CMOs	10,697	3,186
Derivative - interest rate product	2,973	3,228
Financial Liabilities [Abstract]
Derivative - interest rate product	50
Recurring [Member] | Level 1 Inputs [Member]
Trading securities (Registered Mutual Funds) [Abstract]
Domestic Equity Mutual Funds	435	873
International Equity Mutual Funds	115	213
Fixed Income Mutual Funds	2,125	5,867
Registered Mutual Funds [Abstract]
Domestic Equity Mutual Funds	1,479	1,356
International Equity Mutual Funds	441	377
Fixed Income Mutual Funds	2,114	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	16,684	372
Agency CMOs	10,697	3,186
Derivative - interest rate product	2,973	3,228
Financial Liabilities [Abstract]
Derivative - interest rate product	50
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	Sep. 30, 2017	Dec. 31, 2016
Financial Assets [Abstract]
TRUP CDOs		$ 7,296
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and due from banks	$ 173,060	113,503
TRUP CDOs		5,378
Loans, net	5,956,751	5,615,886
Accrued interest receivable	16,793	15,647
FHLBNY capital stock	61,833	44,444
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,345,693	3,346,961
Certificates of Deposit ("CDs")	1,025,500	1,048,465
Escrow and other deposits	117,765	103,001
FHLBNY Advances	1,217,500	831,125
Subordinated debt, net	113,575
Trust preferred securities payable		70,680
Accrued interest payable	2,759	2,080
Fair Value [Member]
Financial Assets [Abstract]
Cash and due from banks	173,060	113,503
TRUP CDOs		7,296
Loans, net	5,946,931	5,609,034
Accrued interest receivable	16,793	15,647
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,345,693	3,346,961
Certificates of Deposit ("CDs")	1,027,592	1,054,131
Escrow and other deposits	117,765	103,001
FHLBNY Advances	1,215,706	831,951
Subordinated debt, net	115,875
Trust preferred securities payable		69,973
Accrued interest payable	2,759	2,080
Fair Value [Member] | Level 1 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	173,060	113,503
TRUP CDOs		0
Loans, net	0	0
Accrued interest receivable	0	0
Financial Liabilities [Abstract]
Savings, money market and checking accounts	3,345,693	3,346,961
Certificates of Deposit ("CDs")	0	0
Escrow and other deposits	117,765	103,001
FHLBNY Advances	0	0
Subordinated debt, net	0
Trust preferred securities payable		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
Loans, net	0	0
Accrued interest receivable	58	11
Financial Liabilities [Abstract]
Savings, money market and checking accounts	0	0
Certificates of Deposit ("CDs")	1,027,592	1,054,131
Escrow and other deposits	0	0
FHLBNY Advances	1,215,706	831,951
Subordinated debt, net	115,875
Trust preferred securities payable		69,973
Accrued interest payable	2,759	2,080
Fair Value [Member] | Level 3 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	0	0
TRUP CDOs		7,296
Loans, net	5,946,931	5,609,034
Accrued interest receivable	16,735	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, net	0
Trust preferred securities payable		0
Accrued interest payable	$ 0	$ 0

RETIREMENT AND POSTRETIREMENT53

RETIREMENT AND POSTRETIREMENT PLANS (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Participantsshares	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Net Periodic Benefit Cost [Abstract]
Tax benefit from market valuation adjustment on distribution of ESOP shares				$ 717
BMP Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments	$ 137		$ 137
Retirement Plans [Member] | BMP, Employee and Outside Director Retirement Plans [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	0	$ 0	0	0
Interest cost	329	343	987	1,028
Expected return on assets	(395)	(383)	(1,185)	(1,149)
Unrecognized past service liability	0	0	0	0
Amortization of unrealized loss (gain)	358	428	1,076	1,284
Net periodic cost	292	388	878	1,163
Retirement Plans [Member] | Employee Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					$ 15
Contributions by employer	5		17
Retirement Plans [Member] | Outside Director Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					208
Contributions by employer	64		161
Retirement Plans [Member] | BMP Retirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Estimated employer contributions or benefit payments					725
Contributions by employer	136		240
Lump-sum distribution for retired participant			$ 11,708
Number of retired participants that elected gross lump-sum distribution | Participants			2
Distribution of common stock (in shares) | shares			360,822
Component held by ESOP			$ 7,068
Benefit held by defined contribution plan			4,591
Tax benefit from market valuation adjustment on distribution of ESOP shares			1,322
Other Postretirement Plan [Member] | Postretirement Plan [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	0	0	0	0
Interest cost	14	16	42	47
Expected return on assets	0	0	0	0
Unrecognized past service liability	(2)	(2)	(6)	(6)
Amortization of unrealized loss (gain)	(1)	(1)	(3)	(3)
Net periodic cost	11	$ 13	33	$ 38
Estimated employer contributions or benefit payments					$ 113
Contributions by employer	$ 48		$ 125

SUBORDINATED NOTES PAYABLE (Det

SUBORDINATED NOTES PAYABLE (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Subordinated note issued	$ 113,575	$ 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]
Variable rate basis	three-month LIBOR
Basis Spread on Variable Rate	2.66%

TRUST PREFERRED SECURITIES PA55

TRUST PREFERRED SECURITIES PAYABLE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
TRUST PREFERRED SECURITIES PAYABLE [Abstract]
Interest rate			7.00%
Trust preferred securities outstanding	$ 70,680		$ 70,680		$ 70,680
Trust preferred securities redeemed	70,680		70,680	$ 0
Loss from extinguishment of debt	$ (1,272)	$ 0	$ (1,272)	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	Mar. 16, 2016USD ($)	Sep. 30, 2017USD ($)Item	Sep. 30, 2016USD ($)Item	Sep. 30, 2017USD ($)Item	Sep. 30, 2016USD ($)Item
Income Tax Expenses Benefit [Line Items]
Effective tax rates		35.20%	41.50%	37.00%	42.10%
Gain on sale of real estate	$ 68,183	$ 0	$ 0	$ 0	$ 68,183
Income tax benefit		7,230	$ 7,481	21,414	52,141
Deferred tax expense		$ 476		$ (2,869)	$ (1,993)
Number of significant and unusual income tax items in the period | Item		0	0	0	0
BMP Retirement Plan [Member]
Income Tax Expenses Benefit [Line Items]
Income tax benefit		$ (1,322)

PREMISES HELD FOR SALE (Details

PREMISES HELD FOR SALE (Details) - USD ($) $ in Thousands	Mar. 16, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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	$ 0	$ 0	$ 68,183
Aggregate purchase price under purchase and sale agreement							$ 12,300