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Disclosures About Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of the carrying amount and estimated fair value of the entity's financial instruments included in the consolidated statement of financial condition
The following table sets forth the carrying amount and estimated fair value of our financial instruments included in the Consolidated Statement of Financial Condition at June 30, 2024 (in thousands): 
Carrying
amount		Estimated
fair value		Level 1Level 2Level 3
Financial assets:     
Cash and cash equivalents$228,433 228,433 228,433 — — 
Securities available-for-sale1,029,191 1,029,191 — 1,029,191 — 
Securities held-to-maturity784,208 663,292 — 663,292 — 
Loans receivable, net11,219,849 10,270,432 — — 10,270,432 
Loans held-for-sale9,445 9,445 — 681 8,764 
Accrued interest receivable48,739 48,739 48,739 — — 
Interest rate lock commitments791 791 — — 791 
Forward commitments70 70 — 70 — 
Foreign exchange swaps2 2 — 2 — 
Interest rate swaps designated as hedging instruments2,726 2,726 — 2,726 — 
Interest rate swaps not designated as hedging instruments44,420 44,420 — 44,420 — 
FHLB stock20,842 20,842 — — — 
Total financial assets$13,388,716 12,318,383 277,172 1,740,382 10,279,987 
Financial liabilities:     
Savings and checking deposits$9,261,017 9,261,017 9,261,017 — — 
Time deposits2,826,362 2,472,360 — — 2,472,360 
Borrowed funds242,363 232,254 232,254 — — 
Subordinated debt114,364 109,224 — 109,224 — 
Junior subordinated debentures129,703 124,292 — — 124,292 
Foreign exchange swaps 25 25 — 25 — 
Interest rate swaps not designated as hedging instruments44,450 44,450 — 44,450 — 
Risk participation agreements106 106 — 106 — 
Accrued interest payable21,423 21,423 21,423 — — 
Total financial liabilities$12,639,813 12,265,151 9,514,694 153,805 2,596,652 
 
The following table sets forth the carrying amount and estimated fair value of our financial instruments included in the Consolidated Statement of Financial Condition at December 31, 2023 (in thousands): 
Carrying
amount		Estimated
fair value		Level 1Level 2Level 3
Financial assets:     
Cash and cash equivalents$122,260 122,260 122,260 — — 
Securities available-for-sale1,043,359 1,043,359 — 1,043,359 — 
Securities held-to-maturity814,839 699,506 — 699,506 — 
Loans receivable, net11,280,798 10,274,593 — — 10,274,593 
Loans held-for-sale8,768 8,768 — — 8,768 
Accrued interest receivable 47,353 47,353 47,353 — — 
Interest rate lock commitments641 641 — — 641 
Forward commitments12 12 — 12 — 
Interest rate swaps designated as hedging instruments713 713 — 713 — 
Interest rate swaps not designated as hedging instruments41,406 41,406 — 41,406 — 
FHLB stock30,146 30,146 — — — 
Total financial assets$13,390,295 12,268,757 169,613 1,784,996 10,284,002 
Financial liabilities:     
Savings and checking accounts$9,377,021 9,377,021 9,377,021 — — 
Time deposits2,602,881 2,113,177 — — 2,113,177 
Borrowed funds398,895 386,446 386,446 — — 
Subordinated debt114,189 109,471 — 109,471 — 
Junior subordinated debentures129,574 112,159 — — 112,159 
Foreign exchange swaps291 291 — 291 — 
Interest rate swaps designated as hedging instruments1,198 1,198 — 1,198 — 
Interest rate swaps not designated as hedging instruments41,437 41,437 — 41,437 — 
Risk participation agreements 14 14 — 14 — 
Accrued interest payable13,669 13,669 13,669 — — 
Total financial liabilities$12,679,169 12,154,883 9,777,136 152,411 2,225,336 
Schedule of assets and liabilities measured at fair value on a recurring basis
The following table represents assets and liabilities measured at fair value on a recurring basis at June 30, 2024 (in thousands):
Level 1Level 2Level 3Total assets 
at fair value
Debt securities:    
U.S. government and agencies$— 36,971 — 36,971 
Government-sponsored enterprises— 180 — 180 
States and political subdivisions— 58,741 — 58,741 
Corporate— 16,757 — 16,757 
Total debt securities— 112,649 — 112,649 
Mortgage-backed securities:    
GNMA— 56,127 — 56,127 
FNMA— 64,816 — 64,816 
FHLMC— 95,220 — 95,220 
Non-agency— 5 — 5 
Collateralized mortgage obligations:    
GNMA— 489,211 — 489,211 
FNMA— 77,941 — 77,941 
FHLMC— 133,222 — 133,222 
Total mortgage-backed securities— 916,542 — 916,542 
Interest rate lock commitments— — 791 791 
Forward commitments— 70 — 70 
Foreign exchange swaps— 2 — 2 
Interest rate swaps designated as hedging instruments— 2,726 — 2,726 
Interest rate swaps not designated as hedging instruments— 44,420 — 44,420 
Total assets$— 1,076,409 791 1,077,200 
Foreign exchange swaps $— 25 — 25 
Interest rate swaps not designated as hedging instruments— 44,450 — 44,450 
Risk participation agreements— 106 — 106 
Total liabilities $— 44,581 — 44,581 
The following table represents assets and liabilities measured at fair value on a recurring basis at December 31, 2023 (in thousands):
Level 1Level 2Level 3Total assets 
at fair value
Debt securities:    
U.S. government and agencies$— 58,314 — 58,314 
Government-sponsored enterprises— 40,597 — 40,597 
States and political subdivisions— 75,469 — 75,469 
Corporate— 7,688 — 7,688 
Total debt securities— 182,068 — 182,068 
Mortgage-backed securities:    
GNMA— 17,441 — 17,441 
FNMA— 102,678 — 102,678 
FHLMC— 70,830 — 70,830 
Non-agency— 5 — 5 
Collateralized mortgage obligations:    
GNMA— 331,784 — 331,784 
FNMA— 148,892 — 148,892 
FHLMC— 189,661 — 189,661 
Total mortgage-backed securities— 861,291 — 861,291 
Interest rate lock commitments— — 641 641 
Forward commitments— 12 — 12 
Interest rate swaps designated as hedging instruments— 713 — 713 
Interest rate swaps not designated as hedging instruments— 41,406 — 41,406 
Total assets$— 1,085,490 641 1,086,131 
Foreign exchange swaps$— 291 — 291 
Interest rate swaps designated as hedging instruments— 1,198 — 1,198 
Interest rate swaps not designated as hedging instruments— 41,437 — 41,437 
Risk participation agreements— 14 — 14 
Total liabilities $— 42,940 — 42,940 
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis
The following table presents the changes in Level 3 assets and liabilities measured at fair value on a recurring basis (in thousands):
For the quarter ended June 30,For the six months ended June 30,
2024202320242023
Beginning balance,$479 386 641 559 
Interest rate lock commitments:
Net activity312 375 150 202 
Ending balance$791 761 791 761 
Schedule of fair value measurement for nonrecurring assets
The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of June 30, 2024 (in thousands):
Level 1Level 2Level 3Total assets 
at fair value
Loans individually assessed$— — 41,839 41,839 
Mortgage servicing rights— — 19 19 
Real estate owned, net— — 74 74 
Total assets$— — 41,932 41,932 

The following table represents the fair market measurement for only those nonrecurring assets that had a fair market value below the carrying amount as of December 31, 2023 (in thousands): 
Level 1Level 2Level 3Total assets 
at fair value
Loans individually assessed$— — 36,747 36,747 
Mortgage servicing rights— — 133 133 
Real estate owned, net— — 104 104 
Total assets$— — 36,984 36,984 
Schedule of quantitative information about assets measured at fair value on a recurring and nonrecurring basis for Level 3 fair value measurements
The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine fair value at June 30, 2024 (in thousands): 
 Fair valueValuation techniquesSignificant
unobservable inputs		Range  (weighted average)
Loans individually assessed$41,839 Appraisal value (1)Estimated cost to sell10%
Mortgage servicing rights19 Discounted cash flowAnnual service cost$89
Prepayment rate
6.5% to 16.5% (10.1%)
Expected life (months)
52.7 to 102.5 (74)
Option adjusted spread
727 basis points
Forward yield curve
5.44% to 5.45%
Real estate owned, net74 Appraisal value (1)Estimated cost to sell10%
Loans held for sale8,764 Quoted prices for similar loans in active markets adjusted by an expected pull-through rateEstimated pull-through rate100%
(1)Fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent.