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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets and Liabilities Reported on Consolidated Statements of Financial Condition at Fair Values The following tables present the assets and liabilities reported on the consolidated statements of financial condition at their fair value as of December 31, 2021 and 2020, by level within the fair value hierarchy (in thousands).
  Fair Value Measurements at Reporting Date Using:
 December 31, 2021
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Measured on a recurring basis:
Available for sale debt securities:
U.S. Treasury obligations$196,329 $196,329 — — 
Mortgage-backed securities1,708,831 — 1,708,831 — 
Asset-backed securities 46,797 46,797 
State and municipal obligations69,707 — 69,707 — 
Corporate obligations36,187 — 36,187 — 
Total available for sale debt securities$2,057,851 196,329 1,861,522 — 
Equity Securities1,325 1,325 — — 
Derivative assets65,903 — 65,903 
$2,125,079 197,654 1,927,425 — 
Derivative liabilities$61,412 — 61,412 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$18,237 — — 18,237 
Foreclosed assets8,731 — — 8,731 
$26,968 — — 26,968 
  Fair Value Measurements at Reporting Date Using:
 December 31, 2020
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Measured on a recurring basis:
Available for sale debt securities:
Agency obligations$1,009 1,009 — — 
Mortgage-backed securities938,413 — 938,413 — 
Asset-backed securities53,830 53,830 
State and municipal obligations71,258 — 71,258 — 
Corporate obligations40,979 — 40,979 — 
Total available for sale debt securities$1,105,489 1,009 1,104,480 — 
Equity Securities971 971 — — 
Derivative assets101,079 — 101,079 — 
$1,207,539 1,980 1,205,559 — 
Derivative liabilities$109,148 — 109,148 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$26,250 — — 26,250 
Foreclosed assets4,475 — — 4,475 
$30,725 — — 30,725 
Schedule of Financial Instruments at Carrying and Fair Values The following tables present the Company’s financial instruments at their carrying and fair values as of December 31, 2021 and December 31, 2020. Fair values are presented by level within the fair value hierarchy.
  Fair Value Measurements at December 31, 2021 Using:
(Dollars in thousands)
Carrying
value
Fair
value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
Cash and cash equivalents$712,463 712,463 712,463 — — 
Available for sale debt securities:
U.S. Treasury obligations196,329 196,329 196,329 — — 
Mortgage-backed securities1,708,831 1,708,831 — 1,708,831 — 
Asset-backed securities 46,797 46,797 — 46,797 — 
State and municipal obligations69,707 69,707 — 69,707 — 
Corporate obligations36,187 36,187 — 36,187 — 
Total available for sale debt securities$2,057,851 2,057,851 196,329 1,861,522 — 
Held to maturity debt securities, net of allowance for credit losses:
Agency obligations$9,996 9,821 9,821 — — 
Mortgage-backed securities21 21 — 21 — 
State and municipal obligations415,699 429,552 — 429,552 — 
Corporate obligations10,434 10,315 — 10,315 — 
Total held to maturity debt securities, net of allowance for credit losses$436,150 449,709 9,821 439,888 — 
FHLBNY stock34,290 34,290 34,290 — — 
Equity Securities1,325 1,325 1,325 — — 
Loans, net of allowance for credit losses9,500,884 9,607,225 — — 9,607,225 
Derivative assets65,903 65,903 — 65,903 — 
Financial liabilities:
Deposits other than certificates of deposits$10,541,497 10,541,497 10,541,497 — — 
Certificates of deposit692,515 694,041 — 694,041 — 
Total deposits$11,234,012 11,235,538 10,541,497 694,041 — 
Borrowings626,774 625,636 — 625,636 — 
Subordinated Debentures10,283 9,750 — 9,750 — 
Derivative liabilities61,412 61,412 — 61,412 — 
  Fair Value Measurements at December 31, 2020 Using:
(Dollars in thousands)
Carrying
value
Fair
value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Financial assets:
Cash and cash equivalents$532,353 532,353 532,353 — — 
Available for sale debt securities:
Agency obligations1,009 1,009 1,009 — — 
Mortgage-backed securities938,413 938,413 — 938,413 — 
Asset-backed securities53,830 53,830 — 53,830 — 
State and municipal obligations71,258 71,258 — 71,258 — 
Corporate obligations40,979 40,979 — 40,979 — 
Total available for sale debt securities$1,105,489 1,105,489 1,009 1,104,480 — 
Held to maturity debt securities:
Agency obligations$7,600 7,601 7,601 — — 
Mortgage-backed securities62 64 — 64 — 
State and municipal obligations433,589 455,039 — 455,039 — 
Corporate obligations9,714 9,825 — 9,825 — 
Total held to maturity debt securities, net of allowance for credit losses$450,965 472,529 7,601 464,928 — 
FHLBNY stock59,489 59,489 59,489 — — 
Equity Securities971 971 971 — — 
Loans, net of allowance for credit losses9,721,424 9,969,330 — — 9,969,330 
Derivative assets101,079 101,079 — 101,079 — 
Financial liabilities:
Deposits other than certificates of deposits$8,743,655 8,743,655 8,743,655 — — 
Certificates of deposit1,094,174 1,097,993 — 1,097,993 — 
Total deposits$9,837,829 9,841,648 8,743,655 1,097,993 — 
Borrowings1,175,972 1,193,024 — 1,193,024 — 
Subordinated Debentures25,135 24,375 — 24,375 — 
Derivative liabilities109,148 109,148 — 109,148 —