FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2024

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value, assets and liabilities measured on recurring basis

			Fair Value Measurements
			at September 30, 2024 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency notes	$	9,689	$	—	$	9,689	$	—
Treasury securities		161,371		—		161,371		—
Corporate securities		160,629		—		160,629		—
Pass-through MBS issued by GSEs		179,336		—		179,336		—
Agency CMOs		237,773		—		237,773		—
State and municipal obligations		25,810		—		25,810		—
Derivative – cash flow hedges		8,061		—		8,061		—
Derivative – freestanding derivatives, net		97,575		—		97,575		—
Financial Liabilities:
Derivative – fair value hedges		115		—		115		—
Derivative – cash flow hedges		418		—		418		—
Derivative – freestanding derivatives, net		97,575		—		97,575		—

			Fair Value Measurements
			at December 31, 2023 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency Notes	$	9,371	$	—	$	9,371	$	—
Treasury securities		234,190		—		234,190		—
Corporate securities		151,170		—		151,170		—
Pass-through MBS issued by GSEs		205,285		—		205,285		—
Agency CMOs		259,415		—		259,415		—
State and municipal obligations		26,809		—		26,809		—
Derivative – cash flow hedges		12,492		—		12,492		—
Derivative – freestanding derivatives, net		114,671		—		114,671		—
Financial Liabilities:
Derivative – fair value hedge		6,594		—		6,594		—
Derivative – cash flow hedges		5,031		—		5,031		—
Derivative – freestanding derivatives, net		114,671		—		114,671		—

Schedule of assets measured at fair value on a non-recurring basis

	September 30, 2024
				Fair Value Measurements Using:
			Quoted Prices
			In Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Carrying		Assets		Inputs		Inputs
(In thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Individually evaluated loans	$	854	$	—	$	—	$	854

	December 31, 2023
				Fair Value Measurements Using:
			Quoted Prices
			In Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Carrying		Assets		Inputs		Inputs
(In thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Individually evaluated loans	$	6,336	$	—	$	—	$	6,336

Schedule of fair value measurements, nonrecurring

			Fair Value Measurements
			at September 30, 2024 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	626,056	$	626,056	$	—	$	—	$	626,056
Securities held-to-maturity		592,414		—		528,530		—		528,530
Loans held for investment, net		10,805,969		—		—		10,435,847		10,435,847
Accrued interest receivable		54,578		—		5,813		48,765		54,578
Financial Liabilities:
Savings, money market and checking accounts (1)		10,000,851		10,000,851		—		—		10,000,851
Certificates of Deposits ("CDs")		1,416,467		—		1,414,003		—		1,414,003
FHLBNY advances		508,000		—		508,764		—		508,764
Subordinated debt, net		272,300		—		257,278		—		257,278
Accrued interest payable		14,845		—		14,845		—		14,845

⁽¹⁾ Includes mortgage escrow deposits.

			Fair Value Measurements
			at December 31, 2023 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	457,547	$	457,547	$	—	$	—	$	457,547
Securities held-to-maturity		594,639		—		516,930		—		516,930
Loans held for investment, net		10,695,349		—		—		10,305,026		10,305,026
Accrued interest receivable		55,666		—		6,593		49,073		55,666
Financial Liabilities:
Savings, money market and checking accounts (1)		8,922,972		8,922,972		—		—		8,922,972
CDs		1,607,683		—		1,602,087		—		1,602,087
FHLBNY advances		1,313,000		—		1,312,940		—		1,312,940
Subordinated debt, net		200,196		—		160,696		—		160,696
Accrued interest payable		17,298		—		17,298		—		17,298