Metropolitan Bank Holding (MCB) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Document And Entity Information (Abstract)
Entity Registrant Name	Metropolitan Bank Holding Corp.
Entity Central Index Key	0001476034
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		8,319,853
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 9,115	$ 9,246
Overnight deposits	424,276	223,704
Total cash and cash equivalents	433,391	232,950
Investment securities available for sale, at fair value	130,755	30,439
Investment securities held to maturity (estimated fair value of $4,120 and $4,403 at June 30, 2019 and December 31, 2018 respectively)	4,161	4,571
Marketable equity investments, at fair value	2,193	2,110
Total securities	137,109	37,120
Other investments	22,972	22,287
Loans, net of deferred fees and unamortized costs	2,335,573	1,865,216
Allowance for loan losses	(22,715)	(18,942)
Net loans	2,312,858	1,846,274
Receivable from prepaid card programs, net	16,533	8,218
Accrued interest receivable	7,795	5,507
Premises and equipment, net	6,626	6,877
Prepaid expenses and other assets	10,967	8,158
Goodwill	9,733	9,733
Accounts receivable, net	2,629	5,520
Total assets	2,960,613	2,182,644
Deposits:
Noninterest-bearing demand deposits	1,103,278	798,563
Interest-bearing deposits	1,272,844	861,991
Total deposits	2,376,122	1,660,554
Federal Home Loan Bank of New York advances	190,000	185,000
Trust preferred securities	20,620	20,620
Subordinated debt, net of issuance cost	24,573	24,545
Accounts payable, accrued expenses and other liabilities	26,203	18,439
Due to brokers	24,513
Accrued interest payable	1,535	1,282
Prepaid third-party debit cardholder balances	15,717	7,687
Total liabilities	2,679,283	1,918,127
Stockholders' equity:
Common stock, $0.01 par value, 25,000,000 shares authorized, 8,320,816 and 8,217,274 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	82	82
Additional paid in capital	214,880	213,490
Retained earnings	65,818	51,415
Accumulated other comprehensive gain (loss), net of tax effect	547	(473)
Total stockholders' equity	281,330	264,517
Total liabilities and stockholders' equity	2,960,613	2,182,644
Class B Preferred Stock
Stockholders' equity:
Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 272,636 issued and outstanding at June 30, 2019 and December 31, 2018	3	3
Total stockholders' equity	$ 3	$ 3

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Securities held to maturity	$ 4,120	$ 4,403
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,320,816	8,217,274
Common stock, shares outstanding	8,320,816	8,217,274
Class B Preferred Stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	272,636	272,636
Preferred stock, shares outstanding	272,636	272,636

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest and dividend income:
Loans, including fees	$ 28,019	$ 17,996	$ 53,069	$ 35,208
Securities:
Taxable	376	177	619	363
Tax-exempt	4	8	11	15
Money market funds	92	121	146	240
Overnight deposits	2,060	1,534	3,449	2,577
Other interest and dividends	277	162	524	288
Total interest income	30,828	19,998	57,818	38,691
Interest expense:
Deposits	5,936	1,799	10,582	3,238
Borrowed funds	1,322	191	2,426	341
Trust preferred securities interest expense	228	208	485	392
Subordinated debt interest expense	405	405	810	809
Total interest expense	7,891	2,603	14,303	4,780
Net interest income	22,937	17,395	43,515	33,911
Provision (credit) for loan losses	1,950	1,270	(81)	2,747
Net interest income after provision for loan losses	20,987	16,125	43,596	31,164
Non-interest income:
Service charges on deposit accounts	908	821	1,727	2,731
Prepaid third-party debit card income	1,422	1,519	2,679	2,427
Other service charges and fees	313	346	591	2,840
Unrealized gain on equity securities	31		70
Losses on call of securities		(37)		(37)
Total non-interest income	2,674	2,649	5,067	7,961
Non-interest expense:
Compensation and benefits	7,921	6,126	15,411	12,443
Bank premises and equipment	1,348	1,288	2,683	2,468
Professional fees	917	841	1,711	1,619
Technology costs	2,618	609	4,003	2,115
Other expenses	1,920	1,411	3,610	2,868
Total non-interest expense	14,724	10,275	27,418	21,513
Net income before income tax expense	8,937	8,499	21,245	17,612
Income tax expense	2,880	2,634	6,657	5,456
Net income	$ 6,057	$ 5,865	$ 14,588	$ 12,156
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 0.73	$ 0.72	$ 1.76	$ 1.48
Diluted earnings per common share (in dollars per share)	$ 0.71	$ 0.70	$ 1.72	$ 1.46

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) [Abstract]
Net Income	$ 6,057	$ 5,865	$ 14,588	$ 12,156
Other comprehensive income (loss):
Unrealized holding gain (loss) arising during the period	1,009	(166)	1,394	(588)
Reclassification adjustments for net losses included in net income		37		37
Tax effect	(315)	40	(442)	140
Total unrealized gains (loss) on securities available for sale, net	694	(89)	952	(411)
Comprehensive income	$ 6,751	$ 5,776	$ 15,540	$ 11,745

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (unaudited) - USD ($) $ in Thousands	Class B Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI (Loss), Net	Total
Balance at Dec. 31, 2017	$ 3	$ 81	$ 211,145	$ 25,861	$ (206)	$ 236,884
Balance (in shares) at Dec. 31, 2017	272,636	8,196,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeiture			440			440
Restricted stock, net of forfeiture (in shares)		8,987
Issuance of common stock, net			(33)			(33)
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting			(72)			(72)
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting (in shares)		(63)
Employee and non-employee stock-based compensation			619			619
Net income				12,156		12,156
Other comprehensive income (loss)					(411)	(411)
Balance at Jun. 30, 2018	$ 3	$ 81	212,100	38,017	(617)	249,584
Balance (in shares) at Jun. 30, 2018	272,636	8,205,234
Balance at Mar. 31, 2018	$ 3	$ 81	211,333	32,152	(528)	243,041
Balance (in shares) at Mar. 31, 2018	272,636	8,194,925
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net issuance of shares for exercise of stock options and tax withholding for restricted stock vesting (in shares)		1,322
Restricted stock, net of forfeiture			440			440
Restricted stock, net of forfeiture (in shares)		8,987
Employee and non-employee stock-based compensation			327			327
Net income				5,865		5,865
Other comprehensive income (loss)					(89)	(89)
Balance at Jun. 30, 2018	$ 3	$ 81	212,100	38,017	(617)	249,584
Balance (in shares) at Jun. 30, 2018	272,636	8,205,234
Balance at Dec. 31, 2018	$ 3	$ 82	213,490	51,415	(473)	264,517
Balance (in shares) at Dec. 31, 2018	272,636	8,217,274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeiture (in shares)		106,423
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting			(88)			(88)
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting (in shares)		(2,881)
Employee and non-employee stock-based compensation			1,478			1,478
Net income				14,588		14,588
Cumulative effect of adopting new accounting standard | ASU 2016-01				(68)	68
Cumulative effect of adopting new accounting standard | ASU 2014-09				(117)		(117)
Other comprehensive income (loss)					952	952
Balance at Jun. 30, 2019	$ 3	$ 82	214,880	65,818	547	281,330
Balance (in shares) at Jun. 30, 2019	272,636	8,320,816
Balance at Mar. 31, 2019	$ 3	$ 82	214,088	59,761	(147)	273,787
Balance (in shares) at Mar. 31, 2019	272,636	8,320,816
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee and non-employee stock-based compensation			792			792
Net income				6,057		6,057
Other comprehensive income (loss)					694	694
Balance at Jun. 30, 2019	$ 3	$ 82	$ 214,880	$ 65,818	$ 547	$ 281,330
Balance (in shares) at Jun. 30, 2019	272,636	8,320,816

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 14,588	$ 12,156
Adjustments to reconcile net income to net cash:
Net depreciation amortization and accretion	928	850
Provision for loan losses	(81)	2,747
Net change in deferred loan fees	1,670	940
Gain on sale of loans held for sale		(50)
Stock-based compensation expense	1,278	619
Non-employee stock-based expense	200	220
Deferred income tax benefit		62
Loss on call of securities		37
Dividend earned on marketable equity securities	(25)
Unrealized gain/loss of equity securities	(70)
Net change in:
Accrued interest receivable	(2,288)	(28)
Accounts payable, accrued expenses and other liabilities	7,230	(3,567)
Debit card holder balances	8,030	(1,720)
Accrued interest payable	253	270
Accounts receivable, net	2,891	2,674
Receivable from prepaid card programs, net	(8,315)	1,990
Prepaid expenses and other assets	(2,809)	(1,964)
Net cash provided by operating activities	23,480	15,236
Cash flows from investing activities:
Loan originations, purchases and payments, net of recoveries	(468,173)	(197,505)
Proceeds from sale of loans held for sale		16,932
Redemptions of other investments	6,955	2,120
Purchases of other investments	(7,640)	(7,213)
Purchases of securities available for sale	(78,196)	(1,812)
Proceeds from sales and calls of securities available for sale	1,065	1,463
Proceeds from paydowns and maturities of securities available for sale	2,607	2,809
Proceeds from paydowns of securities held to maturity	395	427
Purchase of premises and equipment, net	(532)	(1,370)
Net cash used in investing activities	(543,519)	(184,149)
Cash flows from financing activities:
Proceeds from issuance of common stock, net		(33)
Proceeds from FHLB advances	610,000	90,240
Repayments of FHLB advances	(605,000)	(69,438)
Redemption of common stock for tax withholdings for restricted stock vesting	(88)	(72)
Net increase in deposits	715,568	136,127
Net cash provided by financing activities	720,480	156,824
Increase in cash and cash equivalents	200,441	(12,089)
Cash and cash equivalents at the beginning of the period	232,950	263,231
Cash and cash equivalents at the end of the period	433,391	251,142
Cash paid for:
Interest	14,050	4,510
Income Taxes	9,570	$ 7,389
Non-cash item:
Pending settlement of purchases of securities available for sale	$ 24,513

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2019
ORGANIZATION [Abstract]
ORGANIZATION	NOTE 1 - ORGANIZATION Metropolitan Bank Holding Corp. (a New York Corporation) (the “Company”) is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Bank’s primary market is the New York metropolitan area. The Bank offers a traditional range of services to individuals, businesses and others needing banking services. Its primary lending products are commercial mortgages and commercial and industrial loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from the cash flows from the operations of the business. The Bank’s primary deposit products are checking, savings, and term deposit accounts, and its deposit accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the maximum amounts allowed by law. The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. As a consequence of the extensive regulation of commercial banking activities, the Company’s business is susceptible to being affected by state and federal legislation and regulations.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2019
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	NOTE 2 – BASIS OF PRESENTATION The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles and predominant practices within the U.S. banking industry. All intercompany balances and transactions have been eliminated. The Unaudited Consolidated Financial Statements, which include the accounts of the Company and the Bank, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10‑Q and Article 8 of Regulation S-X. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Consolidated Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. The accounting and reporting policies of the Company conform with U.S generally accepted accounting principles and predominant practices within the U.S. banking industry. Certain prior-year amounts have been reclassified to conform to current year’s presentation. The results of operations for the three and six months ended June 30, 2019 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year. The unaudited consolidated financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to audited consolidated financial statements included in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2018.

SUMMARY OF RECENT ACCOUNTING PR

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2019
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 – SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS Pursuant to the Jumpstart Our Business Startups Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is permitted to elect to adopt new accounting guidance using adoption dates of nonpublic entities. The Company elected delayed effective dates of recently issued accounting standards. Accounting Standards Update (ASU) 2014‑09, Revenue from Contracts with Customers (Topic 606) implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014‑09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the Financial Accounting Standards Board (“FASB”) deferred the effective date of the ASU by one year which means ASU 2014‑09 is effective for the Company beginning January 1, 2019. The Company adopted the new revenue guidance as January 1, 2019, using the five-step model prescribed by the ASU and described above. Management evaluated the Company’s revenue streams and recorded an adjustment to opening retained earnings of $117,000 in accordance with the modified retrospective method allowed by the ASU. In January 2016, the FASB issued ASU 2016‑01, an amendment to Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825‑10). The objectives of the ASU are to: (1) require equity investments to be measured at fair value, with changes in fair value recognized in net income, (2) simplify the impairment assessment of equity investments without readily determinable fair values, (3) eliminate the requirement to disclose methods and significant assumptions used to estimate fair value for financial instruments measured at amortized cost on the balance sheet, (4) require the use of the exit price notion when measuring the fair value of financial instruments, and (5) clarify the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. In February 2018, the FASB issued ASU 2018‑03, Technical Corrections and Improvements to Financial Instruments – Overall – Recognition and Measurement of Financial Assets and Liabilities, an amendment to ASU 2016‑01. The amendments clarify certain aspects of the guidance issued in ASU 2016‑01. The Company adopted these ASUs on January 1, 2019. The Company evaluated the impact of ASU 2016‑01 and 2018‑03 and recorded $68,000, net of tax, as an adjustment to opening retained earnings and accumulated other comprehensive income in accordance with the modified retrospective method allowed by the ASU. In February 2016, the FASB issued ASU 2016‑02, Leases (Topic 842). ASU 2016‑02 requires companies that lease valuable assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. The amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020, however, early adoption is permitted. Under ASU 2016‑02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated balance sheet, which will increase the Company’s assets and liabilities. The Company is evaluating other potential impacts of ASU 2016‑02 on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments – Credit Losses (Topic 326), which requires the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current condition, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. This guidance also amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. In July 2019, the FASB proposed a delay for the implementation of the ASU. As an EGC, the Company’s effective date under this proposal will be January 1, 2023. Management has established a committee to evaluate the impact of ASU 2016‑13 on the Company’s financial statements. Management has also engaged a third party vendor for a software solution to begin testing models and comparing results with current incurred loss estimates. Since the Bank has been using this vendor for credit analysis and stress testing solutions for over five years, sufficient loan level information should be readily available to test the Historical Loss and Migration Analysis models, among other potential modeling solutions. The Company expects to recognize a one-time cumulative adjustment to the allowance for loan losses as of the beginning of the reporting period in which the ASU takes effect but cannot yet determine the magnitude of the impact on the consolidated financial statements. In January 2017, the FASB issued ASU 2017‑04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for the Company beginning January 1, 2021, with early adoption permitted for goodwill impairment tests performed after January 1, 2017. Management expects that ASU 2017‑04 will not have a material impact on its consolidated financial statements. In March 2017, the FASB issued ASU 2017‑08, Premium Amortization on Purchased Callable Debt Securities, which shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount as discounts continue to be amortized to maturity. ASU No. 2017‑08 is effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The guidance includes a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Management expects that ASU 2017‑08 will not have a material impact on its consolidated financial statements. On February 14, 2018 the FASB issued final guidance in the form of ASU 2018‑02, which permits — but does not require — companies to reclassify stranded tax effects caused by 2017 tax reform from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they opt to do the reclassification or not. ASU 2018-02 became effective for the Company on January 1, 2019 and the Company opted not to make the reclassification under ASU 2018-02.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 2019
INVESTMENT SECURITIES [Abstract]
INVESTMENT SECURITIES	NOTE 4 - INVESTMENT SECURITIES The following tables summarize the amortized cost and fair value of securities available for sale and securities held to maturity at June 30, 2019 and December 31, 2018 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss and gross unrecognized losses (dollars in thousands): Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At June 30, 2019 Cost Gains Losses Fair Value Debt securities available-for-sale Residential mortgage-backed securities $ 44,523 $ 181 $ (98) $ 44,606 Residential collateralized mortgage obligations 72,081 685 (41) 72,725 Commercial mortgage-backed securities 2,831 151 — 2,982 Commercial collateralized mortgage obligations 10,528 — (86) 10,442 Total securities available-for-sale $ 129,963 $ 1,017 $ (225) $ 130,755 Held-to-maturity securities: Residential mortgage-backed securities $ 4,161 $ — $ (41) $ 4,120 Total securities held-to-maturity $ 4,161 $ — $ (41) $ 4,120 Marketable equity securities: CRA Mutual Fund $ 2,233 $ — $ (40) $ 2,193 Total non-trading equity investment securities $ 2,233 $ — $ (40) $ 2,193 Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2018 Cost Gains Losses Fair Value Debt securities available-for-sale Residential mortgage-backed securities $ 21,880 $ 3 $ (486) $ 21,397 Residential collateralized mortgage obligations 2,213 — (97) 2,116 Commercial mortgage-backed securities 5,874 — (25) 5,849 Commercial collateralized mortgage obligations — — — — Municipal bond 1,074 3 — 1,077 Total securities available-for-sale $ 31,041 $ 6 $ (608) $ 30,439 Held to Maturity Securities: Residential mortgage-backed securities 4,546 — (168) 4,378 Foreign government securities 25 — — 25 Total securities held-to-maturity $ 4,571 $ — $ (168) $ 4,403 Marketable equity securities: CRA Mutual Fund $ 2,208 — (98) 2,110 Total non-trading equity investment securities $ 2,208 $ — $ (98) $ 2,110 The process from sales or calls of securities and associated gains and losses are listed below (dollars in thousands): Three and six months ended June 30, 2019 2019 2018 Proceeds $ 1,065 $ 1,500 Gross losses $ — $ (37) Tax impact $ — $ 11 Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. The amortized cost and fair value of debt securities at June 30, 2019 and December 31, 2018 are shown by contractual maturity below (dollars in thousands). There were no debt securities with a single contractual maturity at June 30, 2019. Held to Maturity Available for Sale At June 30, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Residential mortgage-backed securities $ 4,161 $ 4,120 44,523 44,606 Residential collateralized mortgage obligations — — 72,081 72,725 Commercial mortgage-backed securities — — 2,831 2,982 Commercial collateralized mortgage obligations — — 10,528 10,442 Total Securities $ 4,161 $ 4,120 $ 129,963 $ 130,755 Held to Maturity Available for Sale At December 31, 2018 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ 25 $ 25 $ 257 $ 258 One to five years — — — — Five to ten years — — — — After ten years — — 817 819 Total $ 25 $ 25 $ 1,074 $ 1,077 Residential mortgage-backed securities $ 4,546 $ 4,378 $ 21,880 $ 21,397 Residential collateralized mortgage obligations — — 2,213 2,116 Commercial mortgage-backed securities — — 5,874 5,849 Commercial collateralized mortgage obligations — — — — Total Securities $ 4,571 $ 4,403 $ 31,041 $ 30,439 There were $122.7 million of available-for-sale securities pledged to secure certain customer deposit accounts at June 30, 2019. There were no securities pledged at December 31, 2018. At June 30, 2019 and December 31, 2018, all of the mortgage-backed securities and collateralized mortgage obligations held by the Bank were issued by U.S. Government-sponsored entities and agencies. Securities with unrealized/unrecognized losses at June 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized/unrecognized loss position, are as follows (dollars in thousands): Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At June 30, 2019 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: Residential mortgage-backed securities $ — — 10,963 (98) $ 10,963 $ (98) Residential collateralized mortgage obligations — — 1,926 (41) 1,926 (41) Commercial mortgage-backed securities — — — — — — Commercial collateralized mortgage obligations 10,442 (86) — — 10,442 (86) Municipal bond — — — — — — Total securities available-for-sale $ 10,442 $ (86) $ 12,889 $ (139) $ 23,331 $ (225) Held to Maturity Securities: Residential mortgage-backed securities $ — $ — $ 4,120 $ (41) $ 4,120 $ (41) Total securities held-to-maturity $ — $ — $ 4,120 $ $ (41) $ 4,120 $ (41) Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2018 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available-for-sale Residential mortgage-backed securities $ 10,374 $ (73) $ 7,774 $ (413) $ 18,148 $ (486) Residential collateralized mortgage obligations — — 2,116 (97) 2,116 (97) Commercial mortgage-backed securities — — 5,849 (25) 5,849 (25) Total securities available-for-sale $ 10,374 $ (73) $ 15,739 $ (535) $ 26,113 $ (608) Held to Maturity Securities: Residential mortgage-backed securities $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Total securities held-to-maturity $ — $ — $ 4,378 $ $ (168) $ 4,378 $ (168) The unrealized losses of securities are primarily due to the changes in market interest rates subsequent to purchase. The Bank does not consider these securities to be other-than-temporarily impaired at June 30, 2019 and December 31, 2018 since the decline in market value is attributable to changes in interest rates and not credit quality. In addition, the Bank does not intend to sell and does not believe that it is more likely than not that it will be required to sell these investments until there is a full recovery of the unrealized loss, which may be at maturity. As a result, no impairment loss was recognized during the three and six months ended June 30, 2019 and for the year ended December 31, 2018. At June 30, 2019 and December 31, 2018, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2019
LOANS AND ALLOWANCE FOR LOAN LOSSES [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	NOTE 5 – LOANS AND ALLOWANCE FOR LOAN LOSSES Loans, net of deferred costs and fees, consist of the following as of June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 2019 December 31, 2018 Real estate Commercial $ 1,359,997 $ 949,778 Construction 37,533 42,540 Multifamily 351,599 307,126 One-to-four family 75,771 79,423 Total real estate loans 1,824,900 1,378,867 Commercial and industrial 426,649 381,692 Consumer 87,827 106,790 Total loans 2,339,376 1,867,349 Deferred fees (3,803) (2,133) Loans, net of deferred fees and unamortized costs 2,335,573 1,865,216 Allowance for loan losses (22,715) (18,942) Balance at the end of the period $ 2,312,858 $ 1,846,274 The following tables present the activity in the Allowance for Loan Losses (referred herein as “ALLL”) by segment for the three and six months ended June 30, 2019 and 2018 (dollars in thousands): Commercial Commercial Multi One-to-four Three months ended June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 10,885 $ 6,177 $ 647 $ 2,111 $ 308 $ 706 $ 20,834 Provision/(credit) for loan losses 2,121 (23) (146) 138 (55) (85) 1,950 Loans charged-off — (12) — — — (57) (69) Recoveries — — — — — — — Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Commercial Commercial Multi One-to-four Three months ended June 30, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,800 $ 5,784 $ 503 $ 1,210 $ 383 $ 580 $ 16,260 Provision/(credit) for loan losses 339 269 163 347 (3) 155 1,270 Loans charged-off — — — — — (67) (67) Recoveries — — — — — — — Total ending allowance balance $ 8,139 $ 6,053 $ 666 $ 1,557 $ 380 $ 668 $ 17,463 Commercial Commercial Multi One-to-four Six months ended June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Provision/(credit) for loan losses 3,969 (4,099) (124) 202 25 (54) (81) Loans charged-off — (286) — — — (130) (416) Recoveries — 4,270 — — — — 4,270 Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Commercial Commercial Multi One-to-four Six months ended June 30, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,136 $ 5,578 $ 519 $ 1,156 $ 138 $ 360 $ 14,887 Provision for loan losses 950 546 147 401 242 461 2,747 Loans charged-off — (71) — — — (153) (224) Recoveries 53 — — — — — 53 Total ending allowance balance $ 8,139 $ 6,053 $ 666 $ 1,557 $ 380 $ 668 $ 17,463 Net charge-offs during the three months ended June 30, 2019 and 2018 were $69,000 and $67,000, respectively. Net charge-offs (recoveries) were $(3.9) million and $171,000 during the six months ended June 30, 2019 and 2018. Included in the net recoveries during the six months ended June 30, 2019 were $4.2 million in recoveries related to previously charged-off taxi medallion loans. The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method as of June 30, 2019 and December 31, 2018 (dollars in thousands): Commercial Commercial Multi One-to-four At June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 61 $ 38 $ 99 Collectively evaluated for impairment 13,006 6,142 501 2,249 192 526 22,616 Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Loans: Individually evaluated for impairment $ 374 $ — $ — $ — $ 3,436 $ 76 $ 3,886 Collectively evaluated for impairment 1,359,623 426,649 37,533 351,599 72,335 87,751 2,335,490 Total ending loan balance $ 1,359,997 $ 426,649 $ 37,533 $ 351,599 $ 75,771 $ 87,827 $ 2,339,376 Commercial Commercial Multi One-to-four At December 31, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 44 $ 44 Collectively evaluated for impairment 9,037 6,257 625 2,047 228 704 18,898 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Loans: Individually evaluated for impairment $ 383 $ — $ — $ — $ 1,078 $ 89 $ 1,550 Collectively evaluated for impairment 949,395 381,692 42,540 307,126 78,345 106,701 1,865,799 Total ending loan balance $ 949,778 $ 381,692 $ 42,540 $ 307,126 $ 79,423 $ 106,790 $ 1,867,349 The following tables present loans individually evaluated for impairment recognized as of June 30, 2019 and December 31, 2018 (dollars in thousands): Unpaid Principal Allowance for Loan At June 30, 2019 Balance Recorded Investment Losses Allocated With an allowance recorded: One-to-four family $ 646 $ 517 $ 61 Consumer 76 76 38 Total $ 722 $ 593 $ 99 Without an allowance recorded: One-to-four family $ 3,067 $ 2,919 $ — Commercial real estate 374 374 — Total $ 3,441 $ 3,293 $ — Unpaid Principal Allowance for Loan At December 31, 2018 Balance Recorded Investment Losses Allocated With an allowance recorded: One-to-four family $ — $ — $ — Consumer 105 89 44 Total $ 105 $ 89 $ 44 Without an allowance recorded: One-to-four family $ 1,355 $ 1,078 $ — Commercial real estate 385 383 — Total $ 1,740 $ 1,461 $ — The recorded investment in loans excludes accrued interest receivable and loan origination fees. The following tables present the average recorded investment and interest income of loans individually evaluated for impairment recognized by class of loans as of and for the three and six months ended June 30, 2019 and 2018 (in thousands): Average Recorded Interest Income Three months ended June 30, 2019 Investment Recognized With an allowance recorded: One-to-four family $ $ Consumer Total $ $ Without an allowance recorded: One-to-four family $ $ Commercial real estate Total $ $ Average Recorded Interest Income Three months ended June 30, 2018 Investment Recognized With an allowance recorded: One-to-four family $ — $ — Consumer 138 — Total $ 138 $ — Without an allowance recorded: One-to-four family $ 1,104 $ 14 Commercial real estate 1,540 16 Total $ 2,644 $ 30 Average Recorded Interest Income Six months ended June 30, 2019 Investment Recognized With an allowance recorded: One-to-four family $ 347 $ 10 Consumer 90 4 Total $ 437 $ 14 Without an allowance recorded: One-to-four family $ 3,891 $ 90 Commercial real estate 379 8 Total $ 4,270 $ 98 Average Recorded Interest Income Six months ended June 30, 2018 Investment Recognized With an allowance recorded: One-to-four family $ 185 $ — Consumer 144 2 Total $ 329 $ 2 Without an allowance recorded: One-to-four family $ 1,373 $ 28 Commercial real estate 1,816 62 Total $ 3,189 $ 90 For a loan to be considered impaired, management determines after review whether it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management applies its normal loan review procedures in making these judgments. Impaired loans include individually classified nonaccrual loans and troubled debt restructurings (“TDRs”). Impairment is determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based on recent appraised values. The fair value of the collateral or present value of expected cash flows is compared to the carrying value to determine if any write-down or specific loan loss allowance allocation is required. The following tables present the recorded investment in non-accrual loans and loans past due over 90 days and still accruing, by class of loans, as of June 30, 2019 and December 31, 2018 (dollars in thousands): At June 30, 2019 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial $ — $ 799 Consumer 38 275 One-to-four family 2,377 — Total $ 2,415 $ 1,074 At December 31, 2018 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial $ — $ 239 Consumer 50 — Total $ 50 $ 239 Non-accrual loans and loans past due 90 days that are still accruing include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. Loans that are past due 90 days and still accruing include one commercial loan that continues to make principal and interest payments but is past its maturity date. This loan was designated as a loan past due 90 days and still accruing during the first quarter of 2019. Non-accrual loans includes a one-to-four family loan that was 88 days past due at June 30, 2019 Interest on non-accrual loans not recognized was not material for the three months ended June 30, 2019 and June 30, 2018 respectively. Interest income that would have been recorded for the six months ended June 30, 2019 and 2018, had non-accrual loans been current according to their original terms, were immaterial. The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2019 and December 31, 2018 (dollars in thousands): Greater 30-59 60-89 than 90 Total past Current At June 30, 2019 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 1,359,997 $ 1,359,997 Commercial & industrial 1,336 73 799 2,208 424,441 426,649 Construction — — — — 37,533 37,533 Multifamily — — — — 351,599 351,599 One-to-four family — 2,377 — 2,377 73,394 75,771 Consumer 288 — 313 601 87,226 87,827 Total $ 1,624 $ 2,450 $ 1,112 $ 5,186 $ 2,334,190 $ 2,339,376 Greater 30-59 60-89 than 90 Total past Current At December 31, 2018 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 949,778 $ 949,778 Commercial & industrial 1,670 95 239 2,004 379,688 381,692 Construction — — — — 42,540 42,540 Multifamily — — — — 307,126 307,126 One-to-four family 870 — — 870 78,553 79,423 Consumer 119 43 50 212 106,578 106,790 Total $ 2,659 $ 138 $ 289 $ 3,086 $ 1,864,263 $ 1,867,349 Troubled Debt Restructurings: Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered TDRs and classified as impaired. Included in impaired loans at both June 30, 2019 and December 31, 2018 were $1.5 million of loans modified in TDRs. The Bank has allocated $80,000 in specific reserves to those customers with loans modified in TDRs as of June 30, 2019, compared to $19,000 allocated at December 31, 2018. There were no loans modified as a TDR during the three and six months ended June 30, 2019. There was one consumer loan in the amount of $39,000 that was modified as a TDR during the year ended December 31, 2018. The Bank has not committed to lend additional amounts as of June 30, 2019 to customers with outstanding loans that are classified as TDRs. During the six months ended June 30, 2019 and June 30, 2018 there were no payment defaults on any loans previously identified as TDRs. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank’s internal underwriting policy. The following tables present the recorded investment in TDRs by class of loans as of June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 2019 December 31, 2018 Troubled debt restructurings: Real Estate: Commercial $ 374 $ 383 One-to-four family 1,059 1,078 Consumer 37 39 Total troubled debt restructurings $ 1,470 $ 1,500 Credit Quality Indicators: The Bank 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 Bank generally analyzes all loans over $500,000, other than one-to-four family and consumer loans, individually by classifying the loans as to credit risk at least annually. For one-to-four family loans and consumer loans, the Bank evaluates credit quality based on the aging status of the loan and by performance status. An analysis is performed on a quarterly basis for loans classified as special mention, substandard, or doubtful. The Bank uses the following definitions for risk ratings: Special Mention - Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard - Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (dollars in thousands): Special At June 30, 2019 Pass Mention Substandard Total Commercial real estate $ 1,359,623 $ 374 $ — $ 1,359,997 Commercial & industrial 425,850 — 799 426,649 Construction 37,533 — — 37,533 Multifamily 351,599 — — 351,599 Total $ 2,174,605 $ 374 $ 799 $ 2,175,778 Special At December 31, 2018 Pass Mention Substandard Total Commercial real estate $ 949,395 $ 383 $ — $ 949,778 Commercial & industrial 380,196 1,496 — 381,692 Construction 42,540 — — 42,540 Multifamily 307,126 — — 307,126 Total $ 1,679,257 $ 1,879 $ — $ 1,681,136

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 6 – EARNINGS PER SHARE The computation of basic and diluted earnings per share is shown below (dollars in thousands, except share data): Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Basic Net income per consolidated statements of income $ 6,057 $ 5,865 $ 14,588 $ 12,156 Less: Dividends paid to preferred shareholders — — — — Less: Earnings allocated to participating securities (107) (49) (243) (102) Net income available to common stockholders $ 5,950 $ 5,816 $ 14,345 $ 12,054 Weighted average common shares outstanding including participating securities 8,320,036 8,198,257 8,310,071 8,195,542 Less: Weighted average participating securities (146,549) (68,770) (138,711) (68,770) Weighted average common shares outstanding 8,173,487 8,129,487 8,171,360 8,126,772 Basic earnings per common share $ 0.73 $ 0.72 $ 1.76 $ 1.48 Diluted Net income allocated to common stockholders $ 5,950 $ 5,816 $ 14,345 $ 12,054 Weighted average common shares outstanding for basic earnings per common share 8,173,487 8,129,487 8,171,360 8,126,772 Add: Dilutive effects of assumed exercise of stock options 126,491 160,561 121,022 156,834 Add: Dilutive effects of assumed vesting of performance based restricted stock 36,086 — 28,484 — Average shares and dilutive potential common shares 8,336,064 8,290,048 8,320,866 8,283,606 Dilutive earnings per common share $ 0.71 $ 0.70 $ 1.72 $ 1.46 All stock options were considered in computing diluted earnings per common share for the three and six months ended June 30, 2019 and 2018.

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN	6 Months Ended
	Jun. 30, 2019
STOCK COMPENSATION PLAN [Abstract]
STOCK COMPENSATION PLAN	NOTE 7 - STOCK COMPENSATION PLAN Equity Incentive Plan On May 28, 2019, the Company's 2019 Equity Incentive Plan (the “2019 EIP”) was approved by stockholders of the Company. Under the 2019 EIP, the maximum number of shares of stock that may be delivered to participants in the form of restricted stock, restricted stock units and stock options, including incentive stock options (“ISO”) and non-qualified stock options is 340,000, plus any awards that are forfeited under the 2009 Equity Incentive Plan (the “2009 Plan”) after the effective date of the 2019 EIP, which was May 28, 2019. Under the 2009 Plan, there are 468,382 shares that are subject to outstanding and/or unexercised awards that have been granted and, if forfeited after May 28, 2019, such shares will be available to be granted under the 2019 EIP. The 2009 Plan expired on May 18, 2019 and, accordingly, the 628,719 shares that were unauthorized and unissued under the 2009 Plan have expired and may not be granted (and such shares of stock did not roll over to the 2019 EIP). Under the terms of the 2019 EIP, a stock option agreement cannot have an exercise price that is less than 100% of the fair market value of the shares covered by the stock option on the date of grant. In the case of an ISO granted to a 10% stockholder, the exercise price shall not be less than 110% of the fair market value of the shares covered by the stock option on the date of grant. In no event shall the exercise period exceed ten years from the date of grant of the option, except, in the case of an ISO granted to a 10% stockholder, the exercise period shall not exceed five years from the date of grant. The 2019 EIP uses a double trigger change in control feature, providing for an acceleration of vesting upon an involuntary termination of employment simultaneous with or following a change in control. The fair value of each stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities based on historical volatilities of the Company’s common stock are not significant. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. A summary of the status of the Company’s stock options and the changes during the six months ended June 30, 2019 is presented below: Six Months Ended June 30, 2019 Number of Weighted Average Options Exercise Price Outstanding, beginning of period 231,000 $ 18.00 Granted — — Exercised — — Cancelled/forfeited — — Outstanding, end of period 231,000 $ 18.00 Options vested and exercisable at end of period 231,000 $ 18.00 Weighted average remaining contractual life (years) 4.88 There was no unrecognized compensation cost related to stock options granted under the 2009 Plan at June 30, 2019 and December 31, 2018. There was no compensation cost related to the 2009 stock option plan for the three and six months ended June 30, 2019 and 2018. The following table summarizes information about stock options outstanding at June 30, 2019: Options Outstanding Range of Average Number Outstanding at Weighted Average Weighted Average Exercise Prices June 30, 2019 Remaining Contractual Life Exercise Price $10 – 20 231,000 $ 18.00 $21 – 30 — — $ — $10 – 30 231,000 4.88 $ 18.00 There were no stock options exercised during the six months ended June 30, 2019. Restricted Stock Awards The Company issued restricted stock awards to certain key personnel under the 2009 Plan. Each restricted stock award vests based on vesting schedule outlined in the award agreement. Restricted stock awards are subject to forfeiture if the holder is not employed by the Company on the vesting date. As of June 30, 2019, there was $2.6 million of total unrecognized compensation expense related to the restricted stock awards. The cost is expected to be recognized over a weighted-average period of 2.42 years. Total compensation cost that has been charged against income for restricted stock awards for the three months ended June 30, 2019 and 2018 was $334,000 and $98,000 respectively. Total compensation cost that has been charged against income for restricted stock awards was $564,000 and $161,000 for the six months ended June 30, 2019 and June 30, 2018, respectively. In addition, 38,900 restricted shares were granted to the Board of Directors in lieu of retainer fees for three years of service. These shares vest one-third each year for three years beginning January 1, 2019. Total expense for these awards was $100,000 and $200,000 for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, there was $1.0 million of unrecognized expense related to Directors’ fees. The cost is expected to be recognized over a weighted-average period of 2.50 years. The following table summarizes the changes in the Company’s non-vested restricted stock awards for the six months ended June 30, 2019: Six Months Ended June 30, 2019 Weighted Average Number of Shares Grant Date Fair Value Outstanding, beginning of period 53,957 $ 21.46 Granted 106,423 35.36 Forfeited — — Vested (15,498) 24.19 Outstanding at end of period 144,882 $ 31.38 The total fair value of shares vested was $539,000 during the six months ended June 30, 2019. Performance Based Stock Awards During the first quarter of 2018, the Company established a long term incentive award program under the 2009 Equity Incentive Plan. For each award, threshold target Performance Restricted Share Units (“PRSUs”) are eligible to be earned over a three-year performance period based on personal performance and the Company’s relative performance on certain measurement goals that were established at the onset of the performance period. These awards were accounted for in accordance with guidance prescribed in ASC Topic 718, Compensation – Stock Compensation. 90,000 PRSUs were awarded under the program. The earned units will be granted at the end of the three year performance period. There were no additional PRSUs awarded during the three and six months ended June 30, 2019. The following table summarizes the changes in the Company’s non-vested PRSU awards for the six months ended June 30, 2019 (dollars in thousands, except share information): For the six months ended June 30, 2019 Weighted average service inception date fair value of award shares $ 4,064,295 Minimum aggregate share payout 12,000 Maximum aggregate share payout 90,000 Likely aggregate share payout 90,000 Compensation expense recognized $ 715,006 Total compensation cost that has been charged against income for this plan was $358,000 and $715,000 for the three and six months ended June 30, 2019. Total compensation cost that has been charged against income for this plan was $382,000 and $561,000 for the three and six months ended June 30, 2018.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 8 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. The Company did not have any liabilities that were measured at fair value at June 30, 2019 and December 31, 2018. Securities available-for-sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis, such as certain impaired loans and goodwill. These non-recurring fair value adjustments generally involve the write-down of individual assets due to impairment losses. Accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Assets and Liabilities Measured on a Recurring Basis Assets measured on a recurring basis are limited to the Bank’s available-for-sale securities (“AFS”) portfolio and Equity Investments – non-trading investments. The AFS portfolio is carried at estimated fair value with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income or loss in shareholders’ equity. Equity Investments – non-trading is carried at estimated fair value with changes in fair value reported as unrealized gain/(loss) on the statement of operations. The fair values for substantially all of these securities are obtained monthly from an independent nationally recognized pricing service. On a monthly basis, the Bank assesses the reasonableness of the fair values obtained by reference to a second independent nationally recognized pricing service. Based on the nature of these securities, the Bank’s independent pricing service provides prices which are categorized as Level 2 since quoted prices in active markets for identical assets are generally not available for the majority of securities in the Bank’s portfolio. Various modeling techniques are used to determine pricing for the Bank’s mortgage-backed securities, including option pricing and discounted cash flow models. The inputs to these models include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. On an annual basis, the Bank obtains the models, inputs and assumptions utilized by its pricing service and reviews them for reasonableness. Assets measured at fair value on a recurring basis are summarized below (dollars in thousands): Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At June 30, 2019 Residential mortgage-backed securities $ 44,606 $ — $ 44,606 $ — Residential collateralized mortgage obligation 72,725 — 72,725 — Commercial mortgage-backed securities 2,982 — 2,982 — Commercial collateralized mortgage obligations 10,442 — 10,442 — CRA Mutual Fund 2,193 2,193 — — Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2018 Residential mortgage-backed securities $ 21,397 $ — $ 21,397 $ — Residential collateralized mortgage obligation 2,116 — 2,116 — Commercial collateralized mortgage obligations 5,849 — 5,849 — Municipal bond 1,077 — 1,077 — CRA Mutual Fund 2,110 2,110 — — There were no transfers between Level 1 and Level 2 during the three months ended June 30, 2019 and 2018. There were no material assets measured at fair value on a non-recurring basis at June 30, 2019 and December 31, 2018. The Bank has engaged an independent pricing service provider to provide the fair values of its financial assets and liabilities measured at amortized cost. This provider follows FASB’s exit pricing guidelines, as required by ASU 2016-01, when calculating the fair market value. Carrying amount and estimated fair values of financial instruments at June 30, 2019 and December 31, 2018 were as follows (dollars in thousands): Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At June 30, 2019 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,115 $ 9,115 $ - $ - $ 9,115 Overnight deposits 424,276 424,276 - - 424,276 Securities available for sale 130,755 130,755 - 130,755 Securities held to maturity 4,161 - 4,120 - 4,120 Marketable equity securities 2,193 2,193 2,193 Loans, net 2,312,858 - - 2,288,924 2,288,924 Other investments - - - - - FRB Stock 7,280 N/A N/A N/A N/A FHLB Stock 10,192 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 - 500 - 500 Accrued interest receivable 7,795 - 313 7,482 7,795 Financial liabilities: Non-interest-bearing demand deposits $ 1,103,278 $ 1,103,278 $ - $ - $ 1,103,278 Money market and savings deposits 1,155,263 1,155,263 1,155,263 Time deposits 117,581 - 118,024 - 118,024 Federal Home Loan Bank of New York advances 190,000 - 190,017 - 190,017 Trust preferred securities payable 20,620 - - 20,015 20,015 Subordinated debt, net of issuance cost 24,573 - 25,500 - 25,500 Accrued interest payable 1,535 78 1,221 236 1,535 Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2018 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,246 $ 9,246 $ — $ — $ 9,246 Overnight deposits 223,704 223,704 — — 223,704 Debt securities available for sale 30,439 — 30,439 — 30,349 Securities held to maturity 4,571 — 4,403 — 4,403 Marketable equity securities 2,110 2,110 — — 2,110 Loans, net 1,846,274 — — 1,796,462 1,796,462 Other investments — — — — — FRB Stock 7,250 N/A N/A N/A N/A FHLB Stock 9,537 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 — 500 — 500 Accrued interest receivable 5,507 — 127 5,380 5,507 Financial liabilities: Non-interest-bearing demand deposits $ 798,563 $ 798,563 $ — $ — $ 798,563 Money market and savings deposits 764,990 764,990 — — 764,990 Time deposits 97,001 — 96,859 — 96,859 Federal Home Loan Bank of New York advances 185,000 — 184,999 — 184,999 Trust preferred securities payable 20,620 — — 19,821 19,821 Subordinated debt, net of issuance cost 24,545 — 25,125 — 25,125 Accrued interest payable 1,282 13 1,044 225 1,282

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2019
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 9 - ACCUMULATED OTHER COMPREHENSIVE LOSS The following table presents changes in Accumulated Other Comprehensive Loss, net of tax, for the three and six months ended June 30, 2019 and 2018 (dollars in thousands): Three months ended Six months ended June 30, June 30, 2019 2018 2019 2018 Beginning balance $ (147) $ (528) $ (473) $ (206) Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes — — 68 — Balance net of cumulative effect of adopting ASU 2016-01 (147) (528) (405) (206) Total unrealized gains/loss on securities available for sale, net of taxes 694 (115) 952 (437) Amount reclassified from accumulated other comprehensive income — 26 — 26 Net current period other comprehensive income (loss) 694 (89) 952 (411) Ending balance $ 547 $ (617) $ 547 $ (617)

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	6 Months Ended
	Jun. 30, 2019
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK [Abstract]
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	NOTE 10 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK The Bank is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. The Bank’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. The following off-balance-sheet financial instruments, whose contract amounts represent credit risk, are outstanding at June 30, 2019 and December 31, 2018 (dollars in thousands): At June 30, 2019 At December 31, 2018 Variable Variable Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit $ 13,794 $ 168,744 $ 7,737 $ 130,547 Letters of credit 37,201 — 34,351 — Total $ 50,995 $ 168,744 $ 42,088 $ 130,547 A commitment to extend credit is a legally binding agreement to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally expire within two years. At June 30, 2019, the Bank’s fixed rate loan commitments had interest rates ranging from 3.0% to 5.6% and the Bank’s variable rate loan commitments had interest rates ranging from 4.3% to 9.5%, with a maturity of one year or more. At December 31, 2018, the Bank’s fixed rate loan commitments had interest rates ranging from 3.0% to 5.6% and the Bank’s variable rate loan commitments had interest rates ranging from 4.5% to 9.5%, with a maturity of one year or more. The amount of collateral obtained, if any, by the Bank upon extension of credit is based on management’s credit evaluation of the borrower. Collateral held varies but may include mortgages on commercial and residential real estate, security interests in business assets, equipment, deposit accounts with the Bank or other financial institutions and securities. The Bank’s stand-by letters of credit amounted to $37.2 million and $34.4 million as of June 30, 2019 and December 31, 2018, respectively. The Bank’s stand-by letters of credit are collateralized by interest-bearing accounts of $31.5 million and $23.0 million as of June 30, 2019 and December 31, 2018. The stand-by letters of credit mature within one year.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2019
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 11 – REVENUE FROM CONTRACTS WITH CUSTOMERS The Company adopted ASU 2014-09, Revenue from Contracts with Customers, as of January 1, 2019. All of the Company’s revenue from contracts with customers that are in the scope of the accounting guidance are recognized in non-interest income. The following table presents the Company’s sources of non-interest income, within the scope of the ASU, for the three and six months ended June 30, 2019 and June 30, 2018 (dollars in thousands) : Three months ended June 30, Six months ended June 30, 2019 2018 (1) 2019 2018 (1) Service charges on deposit accounts $ 908 $ 821 $ 1,727 $ 2,731 Prepaid third-party debit card income 1,422 1,519 2,679 2,427 Other service charges and fees 313 346 591 2,840 Total $ 2,643 $ 2,686 $ 4,997 $ 7,998 (1) The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. A description of the Company’s revenue streams accounted for under the accounting guidance follows: Debit card income: The Bank serves as a debit card issuer to and contracts with various program managers to issue debit cards to support various products including, but not limited to, healthcare marketing, general purpose reloadable cards, payroll cards, disbursement of government payments, payment of federal benefits and E-Wallet and push payments for sellers in online marketplaces. The Bank earns initial set-up fees for these programs as well as fees for transactions processed. The Bank receives transaction data at the end of each month for debit card services rendered, at which time revenue is recognized. Prior to the adoption of the ASU, at December 31, 2018, upfront fees were recognized under the percentage of completion method. Since the performance obligation of setting up the program to go live is satisfied at a point in time, the revenue is deemed to be recognized once the performance obligation has been completed and the program is live, thereby creating an asset available for the customer to use. The ASU provides the option to elect the modified retrospective method as a transition approach and the Bank has elected to use this method to comply with the new guidance under the ASU. Accordingly, the Company recorded an adjustment to opening retained earnings of $117,000 to reflect the change in accounting under the ASU. Beginning January 1, 2019 initial set-up fees will be deferred until the program goes live. Service charges on deposit accounts: The Bank offers business and personal retail products and services, which include, but are not limited to: online banking, mobile banking, ACH, and remote deposit capture. A standard deposit contract exists between the Bank and all deposit customers. The Bank earns fees from its deposit customers for transaction-based (such as ATM use fees, stop payment charges, statement rendering, and ACH fees), account maintenance, and overdraft services. Transaction-based fees are recognized at the time the transaction is executed as that is the point in time the Bank fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Other service charges: The primary component of other service charges relates to foreign exchange (“FX”) conversion fees. The Bank ‘outsources’ FX conversion for foreign currency transactions to 3 correspondent banks. The Bank earns a portion of FX conversion fee that the customer charges to process an FX transaction. Revenue is recognized at the end of the month, once the customer has remitted the transaction information to the Bank.

SUMMARY OF RECENT ACCOUNTING _2

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Jun. 30, 2019
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
ORGANIZATION	ORGANIZATION Metropolitan Bank Holding Corp. (a New York Corporation) (the “Company”) is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Bank’s primary market is the New York metropolitan area. The Bank offers a traditional range of services to individuals, businesses and others needing banking services. Its primary lending products are commercial mortgages and commercial and industrial loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from the cash flows from the operations of the business. The Bank’s primary deposit products are checking, savings, and term deposit accounts, and its deposit accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the maximum amounts allowed by law. The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. As a consequence of the extensive regulation of commercial banking activities, the Company’s business is susceptible to being affected by state and federal legislation and regulations.
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles and predominant practices within the U.S. banking industry. All intercompany balances and transactions have been eliminated. The Unaudited Consolidated Financial Statements, which include the accounts of the Company and the Bank, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10‑Q and Article 8 of Regulation S-X. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Consolidated Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. The accounting and reporting policies of the Company conform with U.S generally accepted accounting principles and predominant practices within the U.S. banking industry. Certain prior-year amounts have been reclassified to conform to current year’s presentation. The results of operations for the three and six months ended June 30, 2019 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year. The unaudited consolidated financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to audited consolidated financial statements included in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2018.
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS Pursuant to the Jumpstart Our Business Startups Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is permitted to elect to adopt new accounting guidance using adoption dates of nonpublic entities. The Company elected delayed effective dates of recently issued accounting standards. Accounting Standards Update (ASU) 2014‑09, Revenue from Contracts with Customers (Topic 606) implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014‑09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the Financial Accounting Standards Board (“FASB”) deferred the effective date of the ASU by one year which means ASU 2014‑09 is effective for the Company beginning January 1, 2019. The Company adopted the new revenue guidance as January 1, 2019, using the five-step model prescribed by the ASU and described above. Management evaluated the Company’s revenue streams and recorded an adjustment to opening retained earnings of $117,000 in accordance with the modified retrospective method allowed by the ASU. In January 2016, the FASB issued ASU 2016‑01, an amendment to Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825‑10). The objectives of the ASU are to: (1) require equity investments to be measured at fair value, with changes in fair value recognized in net income, (2) simplify the impairment assessment of equity investments without readily determinable fair values, (3) eliminate the requirement to disclose methods and significant assumptions used to estimate fair value for financial instruments measured at amortized cost on the balance sheet, (4) require the use of the exit price notion when measuring the fair value of financial instruments, and (5) clarify the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. In February 2018, the FASB issued ASU 2018‑03, Technical Corrections and Improvements to Financial Instruments – Overall – Recognition and Measurement of Financial Assets and Liabilities, an amendment to ASU 2016‑01. The amendments clarify certain aspects of the guidance issued in ASU 2016‑01. The Company adopted these ASUs on January 1, 2019. The Company evaluated the impact of ASU 2016‑01 and 2018‑03 and recorded $68,000, net of tax, as an adjustment to opening retained earnings and accumulated other comprehensive income in accordance with the modified retrospective method allowed by the ASU. In February 2016, the FASB issued ASU 2016‑02, Leases (Topic 842). ASU 2016‑02 requires companies that lease valuable assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. The amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020, however, early adoption is permitted. Under ASU 2016‑02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated balance sheet, which will increase the Company’s assets and liabilities. The Company is evaluating other potential impacts of ASU 2016‑02 on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments – Credit Losses (Topic 326), which requires the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current condition, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. This guidance also amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. In July 2019, the FASB proposed a delay for the implementation of the ASU. As an EGC, the Company’s effective date under this proposal will be January 1, 2023. Management has established a committee to evaluate the impact of ASU 2016‑13 on the Company’s financial statements. Management has also engaged a third party vendor for a software solution to begin testing models and comparing results with current incurred loss estimates. Since the Bank has been using this vendor for credit analysis and stress testing solutions for over five years, sufficient loan level information should be readily available to test the Historical Loss and Migration Analysis models, among other potential modeling solutions. The Company expects to recognize a one-time cumulative adjustment to the allowance for loan losses as of the beginning of the reporting period in which the ASU takes effect but cannot yet determine the magnitude of the impact on the consolidated financial statements. In January 2017, the FASB issued ASU 2017‑04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for the Company beginning January 1, 2021, with early adoption permitted for goodwill impairment tests performed after January 1, 2017. Management expects that ASU 2017‑04 will not have a material impact on its consolidated financial statements. In March 2017, the FASB issued ASU 2017‑08, Premium Amortization on Purchased Callable Debt Securities, which shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount as discounts continue to be amortized to maturity. ASU No. 2017‑08 is effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The guidance includes a modified retrospective transition approach under which a cumulative-effect adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Management expects that ASU 2017‑08 will not have a material impact on its consolidated financial statements. On February 14, 2018 the FASB issued final guidance in the form of ASU 2018‑02, which permits — but does not require — companies to reclassify stranded tax effects caused by 2017 tax reform from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they opt to do the reclassification or not. ASU 2018-02 became effective for the Company on January 1, 2019 and the Company opted not to make the reclassification under ASU 2018-02.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2019
INVESTMENT SECURITIES [Abstract]
Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity	Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At June 30, 2019 Cost Gains Losses Fair Value Debt securities available-for-sale Residential mortgage-backed securities $ 44,523 $ 181 $ (98) $ 44,606 Residential collateralized mortgage obligations 72,081 685 (41) 72,725 Commercial mortgage-backed securities 2,831 151 — 2,982 Commercial collateralized mortgage obligations 10,528 — (86) 10,442 Total securities available-for-sale $ 129,963 $ 1,017 $ (225) $ 130,755 Held-to-maturity securities: Residential mortgage-backed securities $ 4,161 $ — $ (41) $ 4,120 Total securities held-to-maturity $ 4,161 $ — $ (41) $ 4,120 Marketable equity securities: CRA Mutual Fund $ 2,233 $ — $ (40) $ 2,193 Total non-trading equity investment securities $ 2,233 $ — $ (40) $ 2,193 Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2018 Cost Gains Losses Fair Value Debt securities available-for-sale Residential mortgage-backed securities $ 21,880 $ 3 $ (486) $ 21,397 Residential collateralized mortgage obligations 2,213 — (97) 2,116 Commercial mortgage-backed securities 5,874 — (25) 5,849 Commercial collateralized mortgage obligations — — — — Municipal bond 1,074 3 — 1,077 Total securities available-for-sale $ 31,041 $ 6 $ (608) $ 30,439 Held to Maturity Securities: Residential mortgage-backed securities 4,546 — (168) 4,378 Foreign government securities 25 — — 25 Total securities held-to-maturity $ 4,571 $ — $ (168) $ 4,403 Marketable equity securities: CRA Mutual Fund $ 2,208 — (98) 2,110 Total non-trading equity investment securities $ 2,208 $ — $ (98) $ 2,110
Schedule of Realized Gain (Loss) on Sales and Calls of Securities	The process from sales or calls of securities and associated gains and losses are listed below (dollars in thousands): Three and six months ended June 30, 2019 2019 2018 Proceeds $ 1,065 $ 1,500 Gross losses $ — $ (37) Tax impact $ — $ 11
Schedule of amortized cost and fair value of debt securities classified by contractual maturity	Held to Maturity Available for Sale At June 30, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Residential mortgage-backed securities $ 4,161 $ 4,120 44,523 44,606 Residential collateralized mortgage obligations — — 72,081 72,725 Commercial mortgage-backed securities — — 2,831 2,982 Commercial collateralized mortgage obligations — — 10,528 10,442 Total Securities $ 4,161 $ 4,120 $ 129,963 $ 130,755 Held to Maturity Available for Sale At December 31, 2018 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ 25 $ 25 $ 257 $ 258 One to five years — — — — Five to ten years — — — — After ten years — — 817 819 Total $ 25 $ 25 $ 1,074 $ 1,077 Residential mortgage-backed securities $ 4,546 $ 4,378 $ 21,880 $ 21,397 Residential collateralized mortgage obligations — — 2,213 2,116 Commercial mortgage-backed securities — — 5,874 5,849 Commercial collateralized mortgage obligations — — — — Total Securities $ 4,571 $ 4,403 $ 31,041 $ 30,439
Schedule of securities with unrealized/unrecognized losses	Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At June 30, 2019 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: Residential mortgage-backed securities $ — — 10,963 (98) $ 10,963 $ (98) Residential collateralized mortgage obligations — — 1,926 (41) 1,926 (41) Commercial mortgage-backed securities — — — — — — Commercial collateralized mortgage obligations 10,442 (86) — — 10,442 (86) Municipal bond — — — — — — Total securities available-for-sale $ 10,442 $ (86) $ 12,889 $ (139) $ 23,331 $ (225) Held to Maturity Securities: Residential mortgage-backed securities $ — $ — $ 4,120 $ (41) $ 4,120 $ (41) Total securities held-to-maturity $ — $ — $ 4,120 $ $ (41) $ 4,120 $ (41) Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2018 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available-for-sale Residential mortgage-backed securities $ 10,374 $ (73) $ 7,774 $ (413) $ 18,148 $ (486) Residential collateralized mortgage obligations — — 2,116 (97) 2,116 (97) Commercial mortgage-backed securities — — 5,849 (25) 5,849 (25) Total securities available-for-sale $ 10,374 $ (73) $ 15,739 $ (535) $ 26,113 $ (608) Held to Maturity Securities: Residential mortgage-backed securities $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Total securities held-to-maturity $ — $ — $ 4,378 $ $ (168) $ 4,378 $ (168)

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2019
LOANS AND ALLOWANCE FOR LOAN LOSSES [Abstract]
Schedule of Loans Receivable	June 30, 2019 December 31, 2018 Real estate Commercial $ 1,359,997 $ 949,778 Construction 37,533 42,540 Multifamily 351,599 307,126 One-to-four family 75,771 79,423 Total real estate loans 1,824,900 1,378,867 Commercial and industrial 426,649 381,692 Consumer 87,827 106,790 Total loans 2,339,376 1,867,349 Deferred fees (3,803) (2,133) Loans, net of deferred fees and unamortized costs 2,335,573 1,865,216 Allowance for loan losses (22,715) (18,942) Balance at the end of the period $ 2,312,858 $ 1,846,274
Schedule of activity in the allowance for loan losses by segment	Commercial Commercial Multi One-to-four Three months ended June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 10,885 $ 6,177 $ 647 $ 2,111 $ 308 $ 706 $ 20,834 Provision/(credit) for loan losses 2,121 (23) (146) 138 (55) (85) 1,950 Loans charged-off — (12) — — — (57) (69) Recoveries — — — — — — — Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Commercial Commercial Multi One-to-four Three months ended June 30, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,800 $ 5,784 $ 503 $ 1,210 $ 383 $ 580 $ 16,260 Provision/(credit) for loan losses 339 269 163 347 (3) 155 1,270 Loans charged-off — — — — — (67) (67) Recoveries — — — — — — — Total ending allowance balance $ 8,139 $ 6,053 $ 666 $ 1,557 $ 380 $ 668 $ 17,463 Commercial Commercial Multi One-to-four Six months ended June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Provision/(credit) for loan losses 3,969 (4,099) (124) 202 25 (54) (81) Loans charged-off — (286) — — — (130) (416) Recoveries — 4,270 — — — — 4,270 Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Commercial Commercial Multi One-to-four Six months ended June 30, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,136 $ 5,578 $ 519 $ 1,156 $ 138 $ 360 $ 14,887 Provision for loan losses 950 546 147 401 242 461 2,747 Loans charged-off — (71) — — — (153) (224) Recoveries 53 — — — — — 53 Total ending allowance balance $ 8,139 $ 6,053 $ 666 $ 1,557 $ 380 $ 668 $ 17,463
Schedule of allowance for loan losses and the recorded investment in loans	Commercial Commercial Multi One-to-four At June 30, 2019 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 61 $ 38 $ 99 Collectively evaluated for impairment 13,006 6,142 501 2,249 192 526 22,616 Total ending allowance balance $ 13,006 $ 6,142 $ 501 $ 2,249 $ 253 $ 564 $ 22,715 Loans: Individually evaluated for impairment $ 374 $ — $ — $ — $ 3,436 $ 76 $ 3,886 Collectively evaluated for impairment 1,359,623 426,649 37,533 351,599 72,335 87,751 2,335,490 Total ending loan balance $ 1,359,997 $ 426,649 $ 37,533 $ 351,599 $ 75,771 $ 87,827 $ 2,339,376 Commercial Commercial Multi One-to-four At December 31, 2018 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 44 $ 44 Collectively evaluated for impairment 9,037 6,257 625 2,047 228 704 18,898 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Loans: Individually evaluated for impairment $ 383 $ — $ — $ — $ 1,078 $ 89 $ 1,550 Collectively evaluated for impairment 949,395 381,692 42,540 307,126 78,345 106,701 1,865,799 Total ending loan balance $ 949,778 $ 381,692 $ 42,540 $ 307,126 $ 79,423 $ 106,790 $ 1,867,349
Schedule of impaired by class of loans	Unpaid Principal Allowance for Loan At June 30, 2019 Balance Recorded Investment Losses Allocated With an allowance recorded: One-to-four family $ 646 $ 517 $ 61 Consumer 76 76 38 Total $ 722 $ 593 $ 99 Without an allowance recorded: One-to-four family $ 3,067 $ 2,919 $ — Commercial real estate 374 374 — Total $ 3,441 $ 3,293 $ — Unpaid Principal Allowance for Loan At December 31, 2018 Balance Recorded Investment Losses Allocated With an allowance recorded: One-to-four family $ — $ — $ — Consumer 105 89 44 Total $ 105 $ 89 $ 44 Without an allowance recorded: One-to-four family $ 1,355 $ 1,078 $ — Commercial real estate 385 383 — Total $ 1,740 $ 1,461 $ —
Schedule of average recorded investment and interest income of loans	Average Recorded Interest Income Three months ended June 30, 2019 Investment Recognized With an allowance recorded: One-to-four family $ $ Consumer Total $ $ Without an allowance recorded: One-to-four family $ $ Commercial real estate Total $ $ Average Recorded Interest Income Three months ended June 30, 2018 Investment Recognized With an allowance recorded: One-to-four family $ — $ — Consumer 138 — Total $ 138 $ — Without an allowance recorded: One-to-four family $ 1,104 $ 14 Commercial real estate 1,540 16 Total $ 2,644 $ 30 Average Recorded Interest Income Six months ended June 30, 2019 Investment Recognized With an allowance recorded: One-to-four family $ 347 $ 10 Consumer 90 4 Total $ 437 $ 14 Without an allowance recorded: One-to-four family $ 3,891 $ 90 Commercial real estate 379 8 Total $ 4,270 $ 98 Average Recorded Interest Income Six months ended June 30, 2018 Investment Recognized With an allowance recorded: One-to-four family $ 185 $ — Consumer 144 2 Total $ 329 $ 2 Without an allowance recorded: One-to-four family $ 1,373 $ 28 Commercial real estate 1,816 62 Total $ 3,189 $ 90
Schedule of Recorded Investment in Non-Accrual Loans	At June 30, 2019 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial $ — $ 799 Consumer 38 275 One-to-four family 2,377 — Total $ 2,415 $ 1,074 At December 31, 2018 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial $ — $ 239 Consumer 50 — Total $ 50 $ 239
Schedule of aging of the recorded investment in past due loans	Greater 30-59 60-89 than 90 Total past Current At June 30, 2019 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 1,359,997 $ 1,359,997 Commercial & industrial 1,336 73 799 2,208 424,441 426,649 Construction — — — — 37,533 37,533 Multifamily — — — — 351,599 351,599 One-to-four family — 2,377 — 2,377 73,394 75,771 Consumer 288 — 313 601 87,226 87,827 Total $ 1,624 $ 2,450 $ 1,112 $ 5,186 $ 2,334,190 $ 2,339,376 Greater 30-59 60-89 than 90 Total past Current At December 31, 2018 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 949,778 $ 949,778 Commercial & industrial 1,670 95 239 2,004 379,688 381,692 Construction — — — — 42,540 42,540 Multifamily — — — — 307,126 307,126 One-to-four family 870 — — 870 78,553 79,423 Consumer 119 43 50 212 106,578 106,790 Total $ 2,659 $ 138 $ 289 $ 3,086 $ 1,864,263 $ 1,867,349
Schedule of loans modified as troubled debt restructurings	The following tables present the recorded investment in TDRs by class of loans as of June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 2019 December 31, 2018 Troubled debt restructurings: Real Estate: Commercial $ 374 $ 383 One-to-four family 1,059 1,078 Consumer 37 39 Total troubled debt restructurings $ 1,470 $ 1,500
Schedule of risk category of loans by class of loans	Special At June 30, 2019 Pass Mention Substandard Total Commercial real estate $ 1,359,623 $ 374 $ — $ 1,359,997 Commercial & industrial 425,850 — 799 426,649 Construction 37,533 — — 37,533 Multifamily 351,599 — — 351,599 Total $ 2,174,605 $ 374 $ 799 $ 2,175,778 Special At December 31, 2018 Pass Mention Substandard Total Commercial real estate $ 949,395 $ 383 $ — $ 949,778 Commercial & industrial 380,196 1,496 — 381,692 Construction 42,540 — — 42,540 Multifamily 307,126 — — 307,126 Total $ 1,679,257 $ 1,879 $ — $ 1,681,136

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
EARNINGS PER SHARE [Abstract]
Schedule of earnings per share	Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Basic Net income per consolidated statements of income $ 6,057 $ 5,865 $ 14,588 $ 12,156 Less: Dividends paid to preferred shareholders — — — — Less: Earnings allocated to participating securities (107) (49) (243) (102) Net income available to common stockholders $ 5,950 $ 5,816 $ 14,345 $ 12,054 Weighted average common shares outstanding including participating securities 8,320,036 8,198,257 8,310,071 8,195,542 Less: Weighted average participating securities (146,549) (68,770) (138,711) (68,770) Weighted average common shares outstanding 8,173,487 8,129,487 8,171,360 8,126,772 Basic earnings per common share $ 0.73 $ 0.72 $ 1.76 $ 1.48 Diluted Net income allocated to common stockholders $ 5,950 $ 5,816 $ 14,345 $ 12,054 Weighted average common shares outstanding for basic earnings per common share 8,173,487 8,129,487 8,171,360 8,126,772 Add: Dilutive effects of assumed exercise of stock options 126,491 160,561 121,022 156,834 Add: Dilutive effects of assumed vesting of performance based restricted stock 36,086 — 28,484 — Average shares and dilutive potential common shares 8,336,064 8,290,048 8,320,866 8,283,606 Dilutive earnings per common share $ 0.71 $ 0.70 $ 1.72 $ 1.46

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)	6 Months Ended
	Jun. 30, 2019
STOCK COMPENSATION PLAN [Abstract]
Schedule of status of the stock option plan	Six Months Ended June 30, 2019 Number of Weighted Average Options Exercise Price Outstanding, beginning of period 231,000 $ 18.00 Granted — — Exercised — — Cancelled/forfeited — — Outstanding, end of period 231,000 $ 18.00 Options vested and exercisable at end of period 231,000 $ 18.00 Weighted average remaining contractual life (years) 4.88
Schedule of summary of stock options outstanding	Options Outstanding Range of Average Number Outstanding at Weighted Average Weighted Average Exercise Prices June 30, 2019 Remaining Contractual Life Exercise Price $10 – 20 231,000 $ 18.00 $21 – 30 — — $ — $10 – 30 231,000 4.88 $ 18.00
Schedule of non-vested restricted stock awards	Six Months Ended June 30, 2019 Weighted Average Number of Shares Grant Date Fair Value Outstanding, beginning of period 53,957 $ 21.46 Granted 106,423 35.36 Forfeited — — Vested (15,498) 24.19 Outstanding at end of period 144,882 $ 31.38
Schedule of share-based compensation performance restricted stock units	For the six months ended June 30, 2019 Weighted average service inception date fair value of award shares $ 4,064,295 Minimum aggregate share payout 12,000 Maximum aggregate share payout 90,000 Likely aggregate share payout 90,000 Compensation expense recognized $ 715,006

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At June 30, 2019 Residential mortgage-backed securities $ 44,606 $ — $ 44,606 $ — Residential collateralized mortgage obligation 72,725 — 72,725 — Commercial mortgage-backed securities 2,982 — 2,982 — Commercial collateralized mortgage obligations 10,442 — 10,442 — CRA Mutual Fund 2,193 2,193 — — Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2018 Residential mortgage-backed securities $ 21,397 $ — $ 21,397 $ — Residential collateralized mortgage obligation 2,116 — 2,116 — Commercial collateralized mortgage obligations 5,849 — 5,849 — Municipal bond 1,077 — 1,077 — CRA Mutual Fund 2,110 2,110 — —
Schedule of carrying amount and estimated fair values of financial instruments	Carrying amount and estimated fair values of financial instruments at June 30, 2019 and December 31, 2018 were as follows (dollars in thousands): Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At June 30, 2019 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,115 $ 9,115 $ - $ - $ 9,115 Overnight deposits 424,276 424,276 - - 424,276 Securities available for sale 130,755 130,755 - 130,755 Securities held to maturity 4,161 - 4,120 - 4,120 Marketable equity securities 2,193 2,193 2,193 Loans, net 2,312,858 - - 2,288,924 2,288,924 Other investments - - - - - FRB Stock 7,280 N/A N/A N/A N/A FHLB Stock 10,192 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 - 500 - 500 Accrued interest receivable 7,795 - 313 7,482 7,795 Financial liabilities: Non-interest-bearing demand deposits $ 1,103,278 $ 1,103,278 $ - $ - $ 1,103,278 Money market and savings deposits 1,155,263 1,155,263 1,155,263 Time deposits 117,581 - 118,024 - 118,024 Federal Home Loan Bank of New York advances 190,000 - 190,017 - 190,017 Trust preferred securities payable 20,620 - - 20,015 20,015 Subordinated debt, net of issuance cost 24,573 - 25,500 - 25,500 Accrued interest payable 1,535 78 1,221 236 1,535 Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2018 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,246 $ 9,246 $ — $ — $ 9,246 Overnight deposits 223,704 223,704 — — 223,704 Debt securities available for sale 30,439 — 30,439 — 30,349 Securities held to maturity 4,571 — 4,403 — 4,403 Marketable equity securities 2,110 2,110 — — 2,110 Loans, net 1,846,274 — — 1,796,462 1,796,462 Other investments — — — — — FRB Stock 7,250 N/A N/A N/A N/A FHLB Stock 9,537 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 — 500 — 500 Accrued interest receivable 5,507 — 127 5,380 5,507 Financial liabilities: Non-interest-bearing demand deposits $ 798,563 $ 798,563 $ — $ — $ 798,563 Money market and savings deposits 764,990 764,990 — — 764,990 Time deposits 97,001 — 96,859 — 96,859 Federal Home Loan Bank of New York advances 185,000 — 184,999 — 184,999 Trust preferred securities payable 20,620 — — 19,821 19,821 Subordinated debt, net of issuance cost 24,545 — 25,125 — 25,125 Accrued interest payable 1,282 13 1,044 225 1,282

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2019
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]
Schedule of changes in accumulated other comprehensive loss, net of tax	Three months ended Six months ended June 30, June 30, 2019 2018 2019 2018 Beginning balance $ (147) $ (528) $ (473) $ (206) Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes — — 68 — Balance net of cumulative effect of adopting ASU 2016-01 (147) (528) (405) (206) Total unrealized gains/loss on securities available for sale, net of taxes 694 (115) 952 (437) Amount reclassified from accumulated other comprehensive income — 26 — 26 Net current period other comprehensive income (loss) 694 (89) 952 (411) Ending balance $ 547 $ (617) $ 547 $ (617)

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables)	6 Months Ended
	Jun. 30, 2019
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK [Abstract]
Schedule of off-balance-sheet financial instruments	At June 30, 2019 At December 31, 2018 Variable Variable Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit $ 13,794 $ 168,744 $ 7,737 $ 130,547 Letters of credit 37,201 — 34,351 — Total $ 50,995 $ 168,744 $ 42,088 $ 130,547

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2019
REVENUE FROM CONTRACTS WITH CUSTOMERS [Abstract]
Summary of bank’s sources of non-interest income	The following table presents the Company’s sources of non-interest income, within the scope of the ASU, for the three and six months ended June 30, 2019 and June 30, 2018 (dollars in thousands) : Three months ended June 30, Six months ended June 30, 2019 2018 (1) 2019 2018 (1) Service charges on deposit accounts $ 908 $ 821 $ 1,727 $ 2,731 Prepaid third-party debit card income 1,422 1,519 2,679 2,427 Other service charges and fees 313 346 591 2,840 Total $ 2,643 $ 2,686 $ 4,997 $ 7,998 (1) The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.

SUMMARY OF RECENT ACCOUNTING _3

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Details) - Restatement Adjustment	Jan. 31, 2019USD ($)
ASU 2014-09
Adjustment to opening retained earnings	$ 117,000
ASU 2016-01 and 2018-03
Adjustment to opening retained earnings	$ 68,000

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities available-for-sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Investment securities available for sale, at fair value	$ 130,755	$ 30,439
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	129,963	31,041
Gross Unrealized/Unrecognized Gains	1,017	6
Gross Unrealized/Unrecognized Losses	(225)	(608)
Investment securities available for sale, at fair value	130,755	30,439
Available-for-sale Securities | Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	44,523	21,880
Gross Unrealized/Unrecognized Gains	181	3
Gross Unrealized/Unrecognized Losses	(98)	(486)
Investment securities available for sale, at fair value	44,606	21,397
Available-for-sale Securities | Residential collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	72,081	2,213
Gross Unrealized/Unrecognized Gains	685	0
Gross Unrealized/Unrecognized Losses	(41)	(97)
Investment securities available for sale, at fair value	72,725	2,116
Available-for-sale Securities | Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,831	5,874
Gross Unrealized/Unrecognized Gains	151	0
Gross Unrealized/Unrecognized Losses	0	(25)
Investment securities available for sale, at fair value	2,982	5,849
Available-for-sale Securities | Commercial collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,528
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(86)	0
Investment securities available for sale, at fair value	$ 10,442
Available-for-sale Securities | Municipal bond
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,074
Gross Unrealized/Unrecognized Gains		3
Gross Unrealized/Unrecognized Losses		0
Investment securities available for sale, at fair value		$ 1,077

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities held-to-maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 4,161	$ 4,571
Total Securities	4,120	4,403
Held-to-maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	4,161	4,571
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(41)	(168)
Total Securities	4,120	4,403
Held-to-maturity Securities | Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	4,161	4,546
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(41)	(168)
Total Securities	$ 4,120	4,378
Held-to-maturity Securities | Foreign government securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		25
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses		0
Total Securities		$ 25

INVESTMENT SECURITIES (Schedu_3

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of marketable equity securities) (Details) - Equity securities - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Amortized Cost	$ 2,233	$ 2,208
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(40)	(98)
Fair Value	2,193	2,110
CRA mutual fund
Marketable Securities [Line Items]
Amortized Cost	2,233	2,208
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(40)	(98)
Fair Value	$ 2,193	$ 2,110

INVESTMENT SECURITIES (Proceeds

INVESTMENT SECURITIES (Proceeds from sales and calls of securities and associated gains and losses) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
INVESTMENT SECURITIES [Abstract]
Proceeds	$ 1,065	$ 1,500
Gross losses		(37)
Tax impact		$ (11)

INVESTMENT SECURITIES (Schedu_4

INVESTMENT SECURITIES (Schedule of Amortized Cost and Fair Value of Securities Classified by Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Amortized Cost
Within one year		$ 25
One to five years		0
Five to ten years		0
After ten years		0
Amortized Cost, total	$ 0	25
Amortized Cost, Held to maturity	4,161	4,571
Fair Value
Within one year		25
One to five years		0
Five to ten years		0
After ten years		0
Fair Value, total	0	25
Fair Value, Held to maturity	4,120	4,403
Amortized Cost
Within one year		257
One to five years		0
Five to ten years		0
After ten years		817
Amortized Cost, total	0	1,074
Amortized Cost, Available-for-sale Securities	129,963	31,041
Fair Value
Within one year		258
One to five years		0
Five to ten years		0
After ten years		819
Fair Value, total	0	1,077
Fair Value, Available-for-sale Securities	130,755	30,439
Available-for-sale securities pledged to secure customer deposit	122,700	0
Residential mortgage-backed securities
Amortized Cost
Amortized Cost, Held to maturity	4,161	4,546
Fair Value
Fair Value, Held to maturity	4,120	4,378
Amortized Cost
Amortized Cost, Available-for-sale Securities	44,523	21,880
Fair Value
Fair Value, Available-for-sale Securities	44,606	21,397
Residential collateralized mortgage obligations
Amortized Cost
Amortized Cost, Held to maturity	0	0
Fair Value
Fair Value, Held to maturity	0	0
Amortized Cost
Amortized Cost, Available-for-sale Securities	72,081	2,213
Fair Value
Fair Value, Available-for-sale Securities	72,725	2,116
Commercial mortgage-backed securities
Amortized Cost
Amortized Cost, Held to maturity	0	0
Fair Value
Fair Value, Held to maturity	0	0
Amortized Cost
Amortized Cost, Available-for-sale Securities	2,831	5,874
Fair Value
Fair Value, Available-for-sale Securities	2,982	5,849
Commercial collateralized mortgage obligations
Amortized Cost
Amortized Cost, Held to maturity	0	0
Fair Value
Fair Value, Held to maturity	0	0
Amortized Cost
Amortized Cost, Available-for-sale Securities	10,528	0
Fair Value
Fair Value, Available-for-sale Securities	$ 10,442	$ 0

INVESTMENT SECURITIES (Schedu_5

INVESTMENT SECURITIES (Schedule of Securities with Unrealized Losses) (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)item	Jun. 30, 2019USD ($)item	Dec. 31, 2018USD ($)item
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	$ 0	$ 0
Less than 12 Months, Unrealized/Unrecognized Losses	0	0
Held-to-maturity Securities
Other-than-temporary impairment loss recognized	$ 0	$ 0	$ 0
Number of securities of one issuer | item	0	0	0
Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	$ 10,442	$ 10,442	$ 10,374
Less than 12 Months, Unrealized/Unrecognized Losses	(86)	(86)	(73)
12 months or more, Estimated Fair Value	12,889	12,889	15,739
12 months or more, Unrealized/Unrecognized Losses	(139)	(139)	(535)
Total, Estimated Fair Value	23,331	23,331	26,113
Total, Unrealized/Unrecognized Losses	(225)	(225)	(608)
Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	0	0	0
Less than 12 Months, Unrealized/Unrecognized Losses	0	0	0
12 months or more, Estimated Fair Value	4,120	4,120	4,378
12 months or more, Unrealized/Unrecognized Losses	(41)	(41)	(168)
Total, Estimated Fair Value	4,120	4,120	4,378
Total, Unrealized Losses	(41)	(41)	(168)
Residential mortgage-backed securities | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	0	0	10,374
Less than 12 Months, Unrealized/Unrecognized Losses	0	0	(73)
12 months or more, Estimated Fair Value	10,963	10,963	7,774
12 months or more, Unrealized/Unrecognized Losses	(98)	(98)	(413)
Total, Estimated Fair Value	10,963	10,963	18,148
Total, Unrealized/Unrecognized Losses	(98)	(98)	(486)
Residential mortgage-backed securities | Held-to-maturity Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	0	0
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value			0
Less than 12 Months, Unrealized/Unrecognized Losses	0	0	0
12 months or more, Estimated Fair Value	4,120	4,120	4,378
12 months or more, Unrealized/Unrecognized Losses	(41)	(41)	(168)
Total, Estimated Fair Value	4,120	4,120	4,378
Total, Unrealized Losses	(41)	(41)	(168)
Residential collateralized mortgage obligations | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	0	0	0
Less than 12 Months, Unrealized/Unrecognized Losses	0	0	0
12 months or more, Estimated Fair Value	1,926	1,926	2,116
12 months or more, Unrealized/Unrecognized Losses	(41)	(41)	(97)
Total, Estimated Fair Value	1,926	1,926	2,116
Total, Unrealized/Unrecognized Losses	(41)	(41)	(97)
Commercial mortgage-backed securities | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	0	0	0
Less than 12 Months, Unrealized/Unrecognized Losses	0	0	0
12 months or more, Estimated Fair Value			5,849
12 months or more, Unrealized/Unrecognized Losses			(25)
Total, Estimated Fair Value			5,849
Total, Unrealized/Unrecognized Losses			$ (25)
Commercial collateralized mortgage obligations | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	10,442	10,442
Less than 12 Months, Unrealized/Unrecognized Losses	(86)	(86)
Total, Estimated Fair Value	10,442	10,442
Total, Unrealized/Unrecognized Losses	(86)	(86)
Municipal bond | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	0	0
Less than 12 Months, Unrealized/Unrecognized Losses	$ 0	$ 0

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loan Receivables) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 2,339,376		$ 1,867,349
Deferred fees	(3,803)		(2,133)
Loans, net of deferred fees and unamortized costs	2,335,573		1,865,216
Allowance for loan losses	(22,715)	$ (20,834)	(18,942)	$ (17,463)	$ (16,260)	$ (14,887)
Net loans	2,312,858		1,846,274
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	1,824,900		1,378,867
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	426,649		381,692
Allowance for loan losses	(6,142)	(6,177)	(6,257)	(6,053)	(5,784)	(5,578)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans	87,827		106,790
Allowance for loan losses	(564)	(706)	(748)	(668)	(580)	(360)
Commercial | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	1,359,997		949,778
Allowance for loan losses	(13,006)	(10,885)	(9,037)	(8,139)	(7,800)	(7,136)
Construction | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	37,533		42,540
Allowance for loan losses	(501)	(647)	(625)	(666)	(503)	(519)
Multifamily | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	351,599		307,126
Allowance for loan losses	(2,249)	(2,111)	(2,047)	(1,557)	(1,210)	(1,156)
One to four family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	75,771		79,423
Allowance for loan losses	$ (253)	$ (308)	$ (228)	$ (380)	$ (383)	$ (138)

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Activity in the Allowance for Loan Losses by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 20,834	$ 16,260	$ 18,942	$ 14,887
Provision/(credit) for loan losses	1,950	1,270	(81)	2,747
Loans charged-off	(69)	(67)	(416)	(224)
Recoveries			4,270	53
Total ending allowance balance	22,715	17,463	22,715	17,463
Real estate | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10,885	7,800	9,037	7,136
Provision/(credit) for loan losses	2,121	339	3,969	950
Loans charged-off			0	0
Recoveries			0	53
Total ending allowance balance	13,006	8,139	13,006	8,139
Real estate | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	647	503	625	519
Provision/(credit) for loan losses	(146)	163	(124)	147
Loans charged-off			0	0
Recoveries			0	0
Total ending allowance balance	501	666	501	666
Real estate | Multifamily
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,111	1,210	2,047	1,156
Provision/(credit) for loan losses	138	347	202	401
Loans charged-off			0	0
Recoveries			0	0
Total ending allowance balance	2,249	1,557	2,249	1,557
Real estate | One to four family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	308	383	228	138
Provision/(credit) for loan losses	(55)	(3)	25	242
Loans charged-off			0	0
Recoveries			0	0
Total ending allowance balance	253	380	253	380
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	6,177	5,784	6,257	5,578
Provision/(credit) for loan losses	(23)	269	(4,099)	546
Loans charged-off	(12)		(286)	(71)
Recoveries			4,270	0
Total ending allowance balance	6,142	6,053	6,142	6,053
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	706	580	748	360
Provision/(credit) for loan losses	(85)	155	(54)	461
Loans charged-off	(57)	(67)	(130)	(153)
Recoveries			0	0
Total ending allowance balance	$ 564	$ 668	$ 564	$ 668

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Impairment Method) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	$ 99		$ 44
Collectively evaluated for impairment, Allowance for loan losses	22,616		18,898
Total ending allowance balance	22,715	$ 20,834	18,942	$ 17,463	$ 16,260	$ 14,887
Individually evaluated for impairment, Loans	3,886		1,550
Collectively evaluated for impairment, Loans	2,335,490		1,865,799
Total ending loan balance	2,339,376		1,867,349
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total ending loan balance	1,824,900		1,378,867
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	0		0
Collectively evaluated for impairment, Allowance for loan losses	13,006		9,037
Total ending allowance balance	13,006	10,885	9,037	8,139	7,800	7,136
Individually evaluated for impairment, Loans	374		383
Collectively evaluated for impairment, Loans	1,359,623		949,395
Total ending loan balance	1,359,997		949,778
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	0		0
Collectively evaluated for impairment, Allowance for loan losses	501		625
Total ending allowance balance	501	647	625	666	503	519
Individually evaluated for impairment, Loans	0		0
Collectively evaluated for impairment, Loans	37,533		42,540
Total ending loan balance	37,533		42,540
Real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	0		0
Collectively evaluated for impairment, Allowance for loan losses	2,249		2,047
Total ending allowance balance	2,249	2,111	2,047	1,557	1,210	1,156
Individually evaluated for impairment, Loans	0		0
Collectively evaluated for impairment, Loans	351,599		307,126
Total ending loan balance	351,599		307,126
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	61		0
Collectively evaluated for impairment, Allowance for loan losses	192		228
Total ending allowance balance	253	308	228	380	383	138
Individually evaluated for impairment, Loans	3,436		1,078
Collectively evaluated for impairment, Loans	72,335		78,345
Total ending loan balance	75,771		79,423
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	0		0
Collectively evaluated for impairment, Allowance for loan losses	6,142		6,257
Total ending allowance balance	6,142	6,177	6,257	6,053	5,784	5,578
Individually evaluated for impairment, Loans	0		0
Collectively evaluated for impairment, Loans	426,649		381,692
Total ending loan balance	426,649		381,692
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	38		44
Collectively evaluated for impairment, Allowance for loan losses	526		704
Total ending allowance balance	564	$ 706	748	$ 668	$ 580	$ 360
Individually evaluated for impairment, Loans	76		89
Collectively evaluated for impairment, Loans	87,751		106,701
Total ending loan balance	$ 87,827		$ 106,790

LOANS AND ALLOWANCE FOR LOAN _6

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Impaired by Class of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
With an allowance recorded:
Unpaid Principal Balance	$ 722		$ 722		$ 105
Recorded Investment	593		593		89
Allowance for Loan Losses Allocated	99		99		44
Average Recorded Investment	612	$ 138	437	$ 329
Interest Income Recognized	9		14	2
Without an allowance recorded:
Unpaid Principal Balance	3,441		3,441		1,740
Recorded Investment	3,293		3,293		1,461
Average Recorded Investment	2,109	2,644	4,270	3,189
Interest Income Recognized	83	30	98	90
One to four family
With an allowance recorded:
Unpaid Principal Balance	646		646
Recorded Investment	517		517
Allowance for Loan Losses Allocated	61		61
Without an allowance recorded:
Unpaid Principal Balance	3,067		3,067		1,355
Recorded Investment	2,919		2,919		1,078
Real estate
Without an allowance recorded:
Average Recorded Investment			379
Interest Income Recognized			8
Real estate | Commercial
Without an allowance recorded:
Unpaid Principal Balance	374		374		385
Recorded Investment	374		374		383
Average Recorded Investment	377	1,540		1,816
Interest Income Recognized	4	16		62
Real estate | One to four family
With an allowance recorded:
Average Recorded Investment	521		347	185
Interest Income Recognized	7		10
Without an allowance recorded:
Average Recorded Investment	1,732	1,104	3,891	1,373
Interest Income Recognized	79	14	90	28
Consumer
With an allowance recorded:
Unpaid Principal Balance	76		76		105
Recorded Investment	76		76		89
Allowance for Loan Losses Allocated	38		38		$ 44
Average Recorded Investment	91	$ 138	90	144
Interest Income Recognized	$ 2		$ 4	$ 2

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Non-accrual Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	$ 2,415	$ 50
Loans Past Due Over 90 Days Still Accruing	1,074	239
Troubled Debt Restructurings	1,470	1,500
One to four family
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	2,377
Loans Past Due Over 90 Days Still Accruing	0
Troubled Debt Restructurings	1,059	1,078
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Troubled Debt Restructurings	374	383
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	0	0
Loans Past Due Over 90 Days Still Accruing	799	239
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	38	50
Loans Past Due Over 90 Days Still Accruing	275	0
Troubled Debt Restructurings	$ 37	$ 39

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Past Due Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 5,186	$ 3,086
Loans not Past Due	2,334,190	1,864,263
Total loans	2,339,376	1,867,349
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,624	2,659
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,450	138
Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,112	289
Real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	1,824,900	1,378,867
Real estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans not Past Due	1,359,997	949,778
Total loans	1,359,997	949,778
Real estate | Commercial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Commercial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Commercial | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans not Past Due	37,533	42,540
Total loans	37,533	42,540
Real estate | Construction | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Construction | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Construction | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans not Past Due	351,599	307,126
Total loans	351,599	307,126
Real estate | Multifamily | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Multifamily | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | Multifamily | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate | One to four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,377	870
Loans not Past Due	73,394	78,553
Total loans	75,771	79,423
Real estate | One to four family | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	870
Real estate | One to four family | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,377	0
Real estate | One to four family | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,208	2,004
Loans not Past Due	424,441	379,688
Total loans	426,649	381,692
Commercial and industrial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,336	1,670
Commercial and industrial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	73	95
Commercial and industrial | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	799	239
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	601	212
Loans not Past Due	87,226	106,578
Total loans	87,827	106,790
Consumer | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	288	119
Consumer | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	43
Consumer | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 313	$ 50

LOANS AND ALLOWANCE FOR LOAN _9

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Risk Category) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 2,339,376	$ 1,867,349
Commercial Construction and Multifamily Real Estate Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,175,778	1,681,136
Commercial Construction and Multifamily Real Estate Loans [Member] | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,174,605	1,679,257
Commercial Construction and Multifamily Real Estate Loans [Member] | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	374	1,879
Commercial Construction and Multifamily Real Estate Loans [Member] | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	799
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,824,900	1,378,867
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,359,997	949,778
Real estate | Commercial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,359,623	949,395
Real estate | Commercial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	374	383
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	37,533	42,540
Real estate | Construction | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	37,533	42,540
Real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	351,599	307,126
Real estate | Multifamily | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	351,599	307,126
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	75,771	79,423
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	426,649	381,692
Commercial and industrial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	425,850	380,196
Commercial and industrial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		1,496
Commercial and industrial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	799
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 87,827	$ 106,790

LOANS AND ALLOWANCE FOR LOAN_10

LOANS AND ALLOWANCE FOR LOAN LOSSES (Troubled Debt Restructurings) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)item	Jun. 30, 2018USD ($)item	Dec. 31, 2018USD ($)loan
Loans and Leases Receivable Disclosure [Line Items]
Net charge-offs (recoveries)	$ 69,000	$ 67,000	$ (3,900,000)	$ 171,000
Recovered charged-off in taxi medallion loans			4,200,000
Loans modified in troubled debt restructurings	$ 1,500,000		$ 1,500,000		$ 1,500,000
Number of TDR loans during the period	0		0
Specific reserves modified in troubled debt restructurings	$ 80,000		$ 80,000		19,000
Number of contracts financing receivable modifications | item			0	0
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings					$ 39,000
Number of TDR loans during the period | loan					1

EARNINGS PER SHARE (Computation

EARNINGS PER SHARE (Computation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic
Net income per consolidated statements of income	$ 6,057	$ 5,865	$ 14,588	$ 12,156
Less: Earnings allocated to participating securities	(107)	(49)	(243)	(102)
Net income available to common stockholder	$ 5,950	$ 5,816	$ 14,345	$ 12,054
Weighted average common shares outstanding including participating securities	8,320,036	8,198,257	8,310,071	8,195,542
Less: Weighted average participating securities	(146,549)	(68,770)	(138,711)	(68,770)
Weighted average common shares outstanding	8,173,487	8,129,487	8,171,360	8,126,772
Basic earnings per common share (in dollars per share)	$ 0.73	$ 0.72	$ 1.76	$ 1.48
Diluted
Net income allocated to common shareholders	$ 5,950	$ 5,816	$ 14,345	$ 12,054
Weighted average common shares outstanding for basic earnings per common share	8,173,487	8,129,487	8,171,360	8,126,772
Average shares and dilutive potential common shares	8,336,064	8,290,048	8,320,866	8,283,606
Diluted earnings per common share (in dollars per share)	$ 0.71	$ 0.70	$ 1.72	$ 1.46
Stock Option
Diluted
Add: Dilutive effects of assumed exercise of stock options	126,491	160,561	121,022	156,834
Restricted stock
Diluted
Dilutive effects of assumed exercise of stock options/vesting of performance based restricted stock	36,086		28,484

STOCK COMPENSATION PLAN (Summar

STOCK COMPENSATION PLAN (Summary of the Status of the Stock Option Plan) (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of Options
Outstanding, beginning of period | shares	231,000
Granted | shares	0
Exercised | shares	0
Cancelled/forfeited | shares	0
Outstanding, end of period | shares	231,000
Options vested and exercisable at end of period | shares	231,000
Weighted Average Exercise Price
Outstanding, beginning of period | $ / shares	$ 18
Granted | $ / shares	0
Exercised | $ / shares	0
Cancelled/forfeited | $ / shares	0
Outstanding, end of period | $ / shares	18
Options vested and exercisable at end of period | $ / shares	$ 18
Weighted average remaining contractual life (years)	4 years 10 months 17 days

STOCK COMPENSATION PLAN (Summ_2

STOCK COMPENSATION PLAN (Summary of Stock Options Outstanding) (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
$10 - 20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	$ 10
Range of Average Exercise Prices, Upper Limit	$ 20
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	4 years 10 months 17 days
Weighted Average Exercise Price	$ 18
$21 - 30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	21
Range of Average Exercise Prices, Upper Limit	30
$10 - 30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	10
Range of Average Exercise Prices, Upper Limit	$ 30
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	4 years 10 months 17 days
Weighted Average Exercise Price	$ 18

STOCK COMPENSATION PLAN (Summ_3

STOCK COMPENSATION PLAN (Summary of Non-Vested Restricted Stock Awards) (Details) - Restricted stock	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Outstanding, beginning of period | shares	53,957
Number of shares, Granted | shares	106,423
Number of shares, Forfeited | shares	0
Number of shares, Vested | shares	(15,498)
Number of shares, Outstanding at end of period | shares	144,882
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date fair Value, January 1, 2019 | $ / shares	$ 21.46
Weighted Average Grant Date fair Value, Granted | $ / shares	35.36
Weighted Average Grant Date fair Value, Forfeited | $ / shares	0
Weighted Average Grant Date fair Value, Vested | $ / shares	24.19
Weighted Average Grant Date fair Value, March 31, 2019 | $ / shares	$ 31.38

STOCK COMPENSATION PLAN (Summ_4

STOCK COMPENSATION PLAN (Summary of Performance Based Stock Awards) (Details)	6 Months Ended
	Jun. 30, 2019USD ($)shares
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout	90,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout	12,000
Performance Restricted Share Units ("Prsus")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)	3 years
Weighted average service inception date fair value of award shares | $	$ 4,064,295
Likely aggregate share payout	90,000
Compensation expense recognized | $	$ 715,006

STOCK COMPENSATION PLAN (Detail

STOCK COMPENSATION PLAN (Detail Textuals) - USD ($)	May 18, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	May 28, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares		231,000		231,000			231,000
Exercise of stock options (in shares)				0
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options		$ 2,600,000		$ 2,600,000
Compensation cost related to stock awards		334,000	$ 98,000	$ 564,000	$ 161,000
Number of shares, Granted				106,423
Unrecognized compensation expense recognition period				2 years 5 months 1 day
Fair value of shares vested				$ 539,000
Restricted stock | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to stock awards		100,000		$ 200,000
Number of shares, Granted				38,900
Vesting percentage				33.00%
Service period (in years)				3 years
Vesting period				3 years
Performance Restricted Share Units ("Prsus")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to stock awards		$ 358,000	382,000	$ 715,000	561,000
Number of PRSUs awarded				90,000
Additional PRSUs awarded		0		0
Directors' fees | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options		$ 1,000,000		$ 1,000,000
Unrecognized compensation expense recognition period				2 years 6 months
Equity Incentive Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, shares authorized, maximum						340,000
Equity Incentive Plan 2019 | Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of exercise price to the fair market value				100.00%
Equity Incentive Plan 2019 | Incentive stock options granted to any 10% stockholder | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the exercise price to the fair market value of the shares covered by the stock option on the date of grant in the case of an ISO granted to 10% stockholder				110.00%
Equity Incentive Plan 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares						468,382
Number of shares expired	628,719
Compensation cost related to stock awards		0	$ 0	$ 0	$ 0
Equity Incentive Plan 2009 | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options		$ 0		$ 0			$ 0
Equity Incentive Plan 2009 | Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date				10 years
Equity Incentive Plan 2009 | Incentive stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date				5 years

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 137,109	$ 37,120
Amount of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2	0		$ 0
Amount of transfers of assets measured on a recurring basis out of Level 2 of the fair value hierarchy into Level 1	0		$ 0
Fair value assets measured at fair value on a non-recurring basis	0	0
Carrying Amount | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		1,077
Carrying Amount | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	44,606	21,397
Carrying Amount | Residential collateralized mortgage obligation | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	72,725	2,116
Carrying Amount | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,982	5,849
Carrying Amount | Municipal bond | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	10,442
Carrying Amount | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,193	2,110
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		0
Fair Value, Inputs, Level 1 | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 1 | Residential collateralized mortgage obligation | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 1 | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 1 | Municipal bond | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0
Fair Value, Inputs, Level 1 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,193	2,110
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		1,077
Fair Value, Inputs, Level 2 | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	44,606	21,397
Fair Value, Inputs, Level 2 | Residential collateralized mortgage obligation | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	72,725	2,116
Fair Value, Inputs, Level 2 | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,982	5,849
Fair Value, Inputs, Level 2 | Municipal bond | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	10,442
Fair Value, Inputs, Level 2 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		0
Fair Value, Inputs, Level 3 | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 3 | Residential collateralized mortgage obligation | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 3 | Commercial mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Inputs, Level 3 | Municipal bond | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0
Fair Value, Inputs, Level 3 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Carrying Amount and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial assets:
Debt securities available for sale	$ 130,755	$ 30,439
Securities held to maturity	4,120	4,403
Financial liabilities:
Noninterest-bearing demand deposits	1,103,278	798,563
Federal Home Loan Bank of New York advances	190,000	185,000
Carrying Amount
Financial assets:
Cash and due from banks	9,115	9,246
Overnight deposits	424,276	223,704
Debt securities available for sale	130,755	30,439
Securities held to maturity	4,161	4,571
Marketable equity securities	2,193	2,110
Loans, net	2,312,858	1,846,274
Other investments
FRB Stock	7,280	7,250
FHLB Stock	10,192	9,537
SBA Loan Fund	5,000	5,000
Disability Fund	500	500
Accrued interest receivable	7,795	5,507
Financial liabilities:
Noninterest-bearing demand deposits	1,103,278	798,563
Money market and savings deposits	1,155,263	764,990
Time deposits	117,581	97,001
Federal Home Loan Bank of New York advances	190,000	185,000
Trust preferred securities payable	20,620	20,620
Subordinated debt, net of issuance cost	24,573	24,545
Accrued interest payable	1,535	1,282
Total Fair Value
Financial assets:
Cash and due from banks	9,115	9,246
Overnight deposits	424,276	223,704
Debt securities available for sale	130,755	30,349
Securities held to maturity	4,120	4,403
Marketable equity securities	2,193	2,110
Loans, net	2,288,924	1,796,462
Other investments
Disability Fund	500	500
Accrued interest receivable	7,795	5,507
Financial liabilities:
Noninterest-bearing demand deposits	1,103,278	798,563
Money market and savings deposits	1,155,263	764,990
Time deposits	118,024	96,859
Federal Home Loan Bank of New York advances	190,017	184,999
Trust preferred securities payable	20,015	19,821
Subordinated debt, net of issuance cost	25,500	25,125
Accrued interest payable	1,535	1,282
Fair Value, Inputs, Level 1
Financial assets:
Cash and due from banks	9,115	9,246
Overnight deposits	424,276	223,704
Debt securities available for sale	0	0
Securities held to maturity	0	0
Marketable equity securities	2,193	2,110
Loans, net	0	0
Other investments
Disability Fund	0	0
Financial liabilities:
Noninterest-bearing demand deposits	1,103,278	798,563
Money market and savings deposits	1,155,263	764,990
Time deposits	0
Federal Home Loan Bank of New York advances	0	0
Trust preferred securities payable	0	0
Subordinated debt, net of issuance cost	0	0
Accrued interest payable	78	13
Fair Value, Inputs, Level 2
Financial assets:
Cash and due from banks	0	0
Overnight deposits	0	0
Debt securities available for sale	130,755	30,439
Securities held to maturity	4,120	4,403
Marketable equity securities	0
Loans, net	0	0
Other investments
Disability Fund	500	500
Accrued interest receivable	313	127
Financial liabilities:
Noninterest-bearing demand deposits	0	0
Money market and savings deposits		0
Time deposits	118,024	96,859
Federal Home Loan Bank of New York advances	190,017	184,999
Trust preferred securities payable	0	0
Subordinated debt, net of issuance cost	25,500	25,125
Accrued interest payable	1,221	1,044
Fair Value, Inputs, Level 3
Financial assets:
Cash and due from banks	0	0
Overnight deposits	0	0
Debt securities available for sale	0	0
Securities held to maturity	0	0
Marketable equity securities	0
Loans, net	2,288,924	1,796,462
Other investments
Disability Fund	0	0
Accrued interest receivable	7,482	5,380
Financial liabilities:
Noninterest-bearing demand deposits	0	0
Money market and savings deposits		0
Time deposits	0
Federal Home Loan Bank of New York advances	0	0
Trust preferred securities payable	20,015	19,821
Subordinated debt, net of issuance cost	0	0
Accrued interest payable	$ 236	$ 225

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (147)	$ (528)	$ (473)	$ (206)
Balance net of cumulative effect of adopting ASU 2016-01	(147)	(528)	(473)	(206)	$ (147)	$ (473)	$ (528)	$ (206)
Total unrealized gains/loss on securities available for sale, net of taxes	694	(115)	952	(437)
Net current period other comprehensive loss	694	(89)	952	(411)
Ending balance	547		547
AOCI (Loss), Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance net of cumulative effect of adopting ASU 2016-01	547	(617)	547	(617)
Amount reclassified from accumulated other comprehensive income		26		26
Net current period other comprehensive loss	694	(89)	952	(411)
Ending balance	547	(617)	547	(617)
AOCI (Loss), Net | ASU 2016-01
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(147)	(528)	(405)	(206)
Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes					0	(68)	0	0
Balance net of cumulative effect of adopting ASU 2016-01	$ (147)	$ (528)	$ (405)	$ (206)	$ (147)	$ (405)	$ (528)	$ (206)

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Outstanding following off-balance-sheet financial instruments) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	$ 50,995	$ 42,088
Variable Rate	168,744	130,547
Undrawn lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	13,794	7,737
Variable Rate	168,744	130,547
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	37,201	34,351
Variable Rate	$ 0	$ 0

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 50,995	$ 42,088
Maturity of stand by letters of credit and time deposits	P1Y
Minimum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	3.00%	3.00%
Variable interest rate off-balance-sheet financial instrument	4.30%	4.50%
Commitments term	1 year	1 year
Maximum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	5.60%	5.60%
Variable interest rate off-balance-sheet financial instrument	9.50%	9.50%
Commitments term	2 years
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 37,201	$ 34,351
Amount of off-balance-sheet financial instruments collateral received	$ 31,500	$ 23,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of non-interest income) (Details) $ in Thousands	Jan. 01, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)item	Jun. 30, 2018USD ($)
Unrealized gain/loss of equity securities		$ 31		$ 70
Total non-interest income		2,674	$ 2,649	5,067	$ 7,961
Total non-interest income		2,643	2,686	4,997	7,998
ASU 2014-09
Adjustment to opening retained earnings				(117)
ASU 2014-09 | Restatement Adjustment
Adjustment to opening retained earnings	$ 117
Service charges on deposit accounts
Non-interest income		908	821	1,727	2,731
Prepaid third-party debit card income
Non-interest income		1,422	1,519	2,679	2,427
Other service charges and fees
Non-interest income		$ 313	$ 346	$ 591	$ 2,840
Number of banks where bank outsources’ FX conversion for foreign currency transactions | item				3