Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investment Securities

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

	December 31, 2022
			Gross		Gross		Approximate
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Securities available for sale:
Treasury notes	$	37,234	$	1	$	955	$	36,280
Federal agencies		284,986		—		13,096		271,890
Mortgage-backed - Government-sponsored entity (GSE)		15,167		7		7		15,167
Total securities available for sale	$	337,387	$	8	$	14,058	$	323,337
Securities held to maturity:
Mortgage-backed - Non-GSE multi-family	$	871,772	$	12	$	—	$	871,784
Mortgage-backed - Non-GSE residential		247,306		—		124		247,182
Total securities held to maturity	$	1,119,078	$	12	$	124	$	1,118,966

	December 31, 2021
			Gross		Gross		Approximate
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In thousands)
Securities available for sale:
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 securities available for sale	$	312,590	$	77	$	2,038	$	310,629

The Company did not have any securities held to maturity prior to December 31, 2022.

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

	December 31, 2022
	Amortized		Fair
	Cost		Value
Securities available for sale:	(In thousands)
Within one year	$	118,984	$	115,386
After one through five years		203,236		192,784
After five through ten years		—		—
After ten years		—		—
		322,220		308,170
Mortgage-backed - Government-sponsored entity (GSE)		15,167		15,167
	$	337,387	$	323,337
Securities held to maturity:
Mortgage-backed - Non-GSE multi-family	$	871,772	$	871,784
Mortgage-backed - Non-GSE residential		247,306		247,182
	$	1,119,078	$	1,118,966

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

	December 31, 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)
Securities available for sale:
Treasury notes	$	29,560	$	762	$	5,798	$	193	$	35,358	$	955
Federal agencies		19,276		724		252,613		12,372		271,889		13,096
Mortgage-backed - Government-sponsored entity (GSE)		709		7		—		—		709		7
	$	49,545	$	1,493	$	258,411	$	12,565	$	307,956	$	14,058
Securities held to maturity:
Mortgage-backed - Non-GSE residential	$	247,182	$	124	$	—	$	—	$	247,182	$	124
	$	247,182	$	124	$	—	$	—	$	247,182	$	124

	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)
Securities available for sale:
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

December 31, 2020

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)

Securities available for sale:

Federal agencies

$

69,939

$

17

$

—

$

—

$

69,939

$

17