Investment Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investment Securities

Schedule of amortized cost and approximate fair values, together with gross unrealized gains and losses

	September 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Available for sale securities:
Treasury notes	$	37,288	$	—	$	976	$	36,312
Federal agencies		284,982		—		14,629		270,353
Mortgage-backed - Government-sponsored entity (GSE)		15,405		10		11		15,404
Total available for sale securities	$	337,675	$	10	$	15,616	$	322,069
Held to maturity securities:
Mortgage-backed - Non-GSE multi-family	$	1,005,487	$	—	$	—	$	1,005,487
Total held to maturity securities	$	1,005,487	$	—	$	—	$	1,005,487

	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Available for sale securities:
Treasury notes	$	8,232	$	4	$	27	$	8,209
Federal agencies		264,970		—		1,675		263,295
Municipals		4,300		—		—		4,300
Mortgage-backed - Government-sponsored entity (GSE)		18,664		32		336		18,360
Mortgage-backed - Non-GSE multi-family		16,424		41		—		16,465
Total available for sale securities	$	312,590	$	77	$	2,038	$	310,629

Schedule of amortized cost and fair value of available-for-sale securities and held to maturity securities by contractual maturity

	September 30, 2022				December 31, 2021
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Available for sale securities:	(In thousands)
Within one year	$	73,994	$	71,805	$	6,548	$	6,551
After one through five years		248,276		234,860		270,954		269,253
After five through ten years		—		—		—		—
After ten years		—		—		—		—
		322,270		306,665		277,502		275,804
Mortgage-backed - Government-sponsored entity (GSE)		15,405		15,404		18,664		18,360
Mortgage-backed - Non-GSE multi-family		—		—		16,424		16,465
	$	337,675	$	322,069	$	312,590	$	310,629
Held to maturity securities:
Within one year	$	—	$	—	$	—	$	—
After one through five years		1,005,487		1,005,487		—		—
After five through ten years		—		—		—		—
After ten years		—		—		—		—
	$	1,005,487	$	1,005,487	$	—	$	—

Schedule of gross unrealized losses and fair value of investments with unrealized losses have been in continuous

	September 30, 2022
					12 Months or
	Less than 12 Months				Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
Available for sale securities:
Treasury notes	$	34,357	$	931	$	1,955	$	45	$	36,312	$	976
Federal agencies		62,372		2,628		207,981		12,001		270,353		14,629
Mortgage-backed - Government-sponsored entity (GSE)		768		11		—		—		768		11
	$	97,497	$	3,570	$	209,936	$	12,046	$	307,433	$	15,616

	December 31, 2021
					12 Months or
	Less than 12 Months				Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
Available for sale securities:
Treasury notes	$	7,957	$	27	$	—	$	—	$	7,957	$	27
Federal agencies		238,489		1,503		24,806		172		263,295		1,675
Mortgage-backed - Government-sponsored entity (GSE)		719		336		—		—		719		336
	$	247,165	$	1,866	$	24,806	$	172	$	271,971	$	2,038