DERIVATIVES AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2024

DERIVATIVES AND HEDGING ACTIVITIES

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition

	June 30, 2024				December 31, 2023
	Notional		Fair Value		Notional		Fair Value
(In thousands)	Amount		Assets		Amount		Assets
Derivatives designated as hedging instruments:
Cash flow hedges - interest rate products	$	200,000	$	12,134	$	150,000	$	12,492
Derivatives not designated as hedging instruments
Interest rate products		1,671,895		122,401		1,682,961		114,671

	June 30, 2024				December 31, 2023
	Notional		Fair Value		Notional		Fair Value
(In thousands)	Amount		Liabilities		Amount		Liabilities
Derivatives designated as hedging instruments:
Fair value hedges - interest rate products	$	500,000	$	400	$	500,000	$	6,594
Cash flow hedges - interest rate products		200,000		701		200,000		5,031
Derivatives not designated as hedging instruments:
Interest rate products		1,671,895		122,401		1,682,961		114,671

Schedule of fair value and cash flow hedge accounting on the consolidated statements of operations

	Three Months Ended June 30,
	2024				2023
	Interest		Interest		Interest		Interest
(In thousands)	Income		Expense		Income		Expense
Effects of fair value or cash flow hedges are recorded	$	634	$	2,520	$	—		299
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships
Interest contracts:
Hedged items		(978)		—		—		—
Derivatives designated as hedging instruments		1,612		—		—		—
Gain or (loss) on cash flow hedging relationships
Interest contracts:
Loss reclassified from AOCI into income		—		2,520		—		299

	Six Months Ended June 30,
	2024				2023
	Interest		Interest		Interest		Interest
	Income		Expense		Income		Expense
Effects of fair value or cash flow hedges are recorded	$	1,262	$	4,955	$	—		(14)
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships
Interest contracts
Hedged items		(6,251)		—		—		—
Derivatives designated as hedging instruments		7,513		—		—		—
Gain or (loss) on cash flow hedging relationships
Interest contracts
Loss (gain) reclassified from AOCI into income		—		4,955		—		(14)

Schedule of cumulative basis adjustment for fair value hedges

	June 30, 2024				December 31, 2023
(In thousands)	Carrying Amount of the Hedged Assets		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets		Carrying Amount of the Hedged Assets		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
Fixed Rate Loans	$	698,517	$	340	$	736,098	$	6,591

Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income (loss)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Gain (loss) recognized in other comprehensive income (loss)	$	(3,128)	$	1,586	$	(983)	$	(525)
(Loss) gain reclassified from other comprehensive income into interest expense		(2,520)		(299)		(4,955)		14

Not Designated as Hedging Instrument

DERIVATIVES AND HEDGING ACTIVITIES

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition

	June 30, 2024
		Notional		Fair Value		Fair Value
(Dollars in thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	19	$	251,409	$	3,438	$	—
Loan level interest rate swaps with borrower	210		1,420,486		—		118,963
Loan level interest rate swaps with third-party counterparties	19		251,409		—		3,438
Loan level interest rate swaps with third-party counterparties	210		1,420,486		118,963		—

	December 31, 2023
		Notional		Fair Value		Fair Value
(Dollars in thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	49	$	491,394	$	10,985	$	—
Loan level interest rate swaps with borrower	178		1,121,085		—		103,570
Loan level interest rate floors with borrower	2		29,721		—		—
Loan level interest rate floors with borrower	7		40,761		—		116
Loan level interest rate swaps with third-party counterparties	49		491,394		—		10,985
Loan level interest rate swaps with third-party counterparties	178		1,121,085		103,570		—
Loan level interest rate floors with third-party counterparties	2		29,721		—		—
Loan level interest rate floors with third-party counterparties	7		40,761		116		—

Schedule of loan level derivative income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Loan level derivative income	$	1,085	$	2,437	$	1,491	$	5,570