DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2025

DERIVATIVES AND HEDGING ACTIVITIES

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

	March 31, 2025				December 31, 2024
	Notional		Fair Value		Notional		Fair Value
(In thousands)	Amount		Assets		Amount		Assets
Derivatives designated as hedging instruments:
Cash flow hedges - interest rate products	$	150,000	$	6,591	$	150,000	$	8,318
Derivatives not designated as hedging instruments:
Interest rate products		1,644,759		92,149		1,665,949		108,178

	March 31, 2025				December 31, 2024
	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	$	39	$	500,000	$	—
Cash flow hedges - interest rate products		400,000		313		350,000		159
Derivatives not designated as hedging instruments:
Interest rate products		1,644,759		92,149		1,665,949		108,178
Risk participations		140,853		15		141,080		10

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

	Three Months Ended March 31,
	2025				2024
	Interest		Interest		Interest		Interest
(In thousands)	Income		Expense		Income		Expense
Effects of fair value or cash flow hedges are recorded	$	(622)	$	1,840	$	628		2,435
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships
Interest contracts:
Hedged items		(683)		—		(5,273)		—
Derivatives designated as hedging instruments		61		—		5,901		—
Gain or (loss) on cash flow hedging relationships
Interest contracts:
Loss reclassified from AOCI into income		—		1,840		—		2,435

Schedule of cumulative basis adjustment for fair value hedges

	March 31, 2025				December 31, 2024
(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	$	687,307	$	1,933	$	694,774	$	2,615

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

	Three Months Ended
	March 31,
(In thousands)	2025		2024
(Loss) gain recognized in other comprehensive income (loss)	$	(7,567)	$	2,145
Loss reclassified from other comprehensive income into interest expense		(1,840)		(2,435)

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

	March 31, 2025
		Notional		Fair Value		Fair Value
(Dollars in thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/liabilities:
Loan level interest rate swaps with borrower	48	$	539,938	$	9,396	$	—
Loan level interest rate swaps with borrower	171		1,104,821		—		82,753
Loan level interest rate swaps with third-party counterparties	48		539,938		—		9,396
Loan level interest rate swaps with third-party counterparties	171		1,104,821		82,753		—

	December 31, 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	23	$	321,745	$	3,704	$	—
Loan level interest rate swaps with borrower	202		1,344,204		—		104,474
Loan level interest rate swaps with third-party counterparties	23		321,745		—		3,704
Loan level interest rate swaps with third-party counterparties	202		1,344,204		104,474		—

Schedule of loan level derivative income

	Three Months Ended
	March 31,
(In thousands)	2025		2024
Loan level derivative income	$	61	$	406