Disclosures about Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosures about Fair Value of Assets and Liabilities

Schedule of fair value measurement of assets measured at fair value on recurring basis

	Fair Value Measurements Using
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
	Fair		Assets		Inputs		Inputs
Assets	Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
December 31, 2022
Mortgage loans in process of securitization	$	154,194	$	—	$	154,194	$	—
Securities available for sale:
Treasury notes		36,280		36,280		—		—
Federal agencies		271,890		—		271,890		—
Mortgage-backed - Government-sponsored entity (GSE)		15,167		—		15,167		—
Loans held for sale		82,192		—		82,192		—
Servicing rights		146,248		—		—		146,248
Derivative assets - interest rate lock commitments		28		—		—		28
Derivative assets - forward contracts		46		—		46		—
Derivative asset - interest rate swaps		3,030		—		3,030		—
Derivative asset - interest rate swaps (back-to-back)		3,041		—		3,041		—
Derivative liabilities - interest rate lock commitments		23		—		—		23
Derivative liabilities - forward contracts		52		—		52		—
Derivative liabilities - interest rate swaps (back-to-back)		3,041		—		3,041		—
December 31, 2021
Mortgage loans in process of securitization	$	569,239	$	—	$	569,239	$	—
Securities available for sale:
Treasury notes		8,209		8,209		—		—
Federal agencies		263,295		—		263,295		—
Municipals		4,300		—		4,300		—
Mortgage-backed - Government-sponsored entity (GSE)		18,360		—		18,360		—
Mortgage-backed - Non-GSE multi-family		16,465		—		16,465		—
Loans held for sale		48,583		—		48,583		—
Servicing rights		110,348		—		—		110,348
Derivative assets - interest rate lock commitments		264		—		—		264
Derivative assets - forward contracts		86		—		86		—
Derivative assets - interest rate swaps (back-to-back)		1,131		—		1,131		—
Derivative liabilities - interest rate lock commitments		41		—		—		41
Derivative liabilities - forward contracts		118		—		118		—
Derivative liabilities - interest rate swap (back-to-back)		1,131		—		1,131		—

Schedule of Level 3 reconciliation of recurring fair value measurements

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Servicing rights
Balance, beginning of period	$	110,348	$	82,604	$	74,387
Additions
Purchased servicing		—		2,057		—
Originated servicing		27,124		30,421		21,889
Subtractions
Paydowns		(10,985)		(16,691)		(7,838)
Sales of servicing		—		(438)		—
Changes in fair value due to changes in valuation inputs or assumptions used in the valuation model		19,761		12,395		(5,834)
Balance, end of period	$	146,248	$	110,348	$	82,604
Derivative Assets - interest rate lock commitments
Balance, beginning of period	$	264	$	6,131	$	186
Changes in fair value		(236)		(5,867)		5,945
Balance, end of period	$	28	$	264	$	6,131
Derivative Liabilities - interest rate lock commitments
Balance, beginning of period	$	41	$	—	$	—
Changes in fair value		(18)		41		—
Balance, end of period	$	23		41	$	—

Schedule of fair value measurement of assets and liabilities measured at fair value on nonrecurring basis

	Fair Value Measurements Using
			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
	Fair		Assets		Inputs		Inputs
Assets	Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
December 31, 2022
Impaired loans (collateral-dependent)	$	4,465	$	—	$	—	$	4,465
December 31, 2021
Impaired loans (collateral-dependent)	$	4,263	$	—	$	—	$	4,263

Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill

			Valuation			Weighted
	Fair Value		Technique	Unobservable Inputs	Range	Average
	(In thousands)
At December 31, 2022:
Collateral dependent loans	$	4,465	Market comparable properties	Marketability discount	4% - 54%	5%
Servicing rights - Multi-family	$	111,690	Discounted cash flow	Discount rate	8% - 13%	9%
				Constant prepayment rate	0% - 39%	8%
Servicing rights - Single-family	$	29,926	Discounted cash flow	Discount rate	9% - 10%	9%
				Constant prepayment rate	7% - 10%	7%
Servicing rights - SBA	$	4,632	Discounted cash flow	Discount rate	16%	16%
				Constant prepayment rate	3% - 12%	8%
Derivative assets - interest rate lock commitments	$	28	Discounted cash flow	Loan closing rates	60% - 87%	77%
Derivative liabilities - interest rate lock commitments	$	23	Discounted cash flow	Loan closing rates	60% - 87%	77%
At December 31, 2021:
Collateral-dependent impaired loans	$	4,263	Market comparable properties	Marketability discount	44% - 76%	73%
Servicing rights - Multi-family	$	84,567	Discounted cash flow	Discount rate	8% - 13%	9%
				Constant prepayment rate	0 - 50%	4%
Servicing rights - Single-family	$	23,012	Discounted cash flow	Discount rate	9% - 10%	9%
				Constant prepayment rate	10 - 13%	11%
Servicing rights - SBA	$	2,769	Discounted cash flow	Discount rate	16%	16%
				Constant prepayment rate	10% - 13%	12%
Derivative assets - interest rate lock commitments	$	264	Discounted cash flow	Loan closing rates	63% - 99%	83%
Derivative liabilities - interest rate lock commitments	$	41	Discounted cash flow	Loan closing rates	63% - 99%	83%

Schedule of carrying amount and estimated fair value of financial instruments

			Fair Value Measurements Using
					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
Assets	Value		Value		(Level 1)		(Level 2)		(Level 3)
	(In thousands)
December 31, 2022
Financial assets:
Cash and cash equivalents	$	226,164	$	226,164	$	226,164	$	—	$	—
Securities purchased under agreements to resell		3,464		3,464		—		3,464		—
Securities held to maturity		1,119,078		1,118,966		—		247,182		871,784
FHLB stock		39,130		39,130		—		39,130		—
Loans held for sale		2,828,384		2,828,384		—		2,828,384		—
Loans receivable, net		7,426,858		7,431,731		—		—		7,431,731
Interest receivable		56,262		56,262		—		56,262		—
Financial liabilities:
Deposits		10,071,345		10,064,941		7,082,056		2,982,885		—
Short-term subordinated debt		21,000		21,000		—		21,000		—
FHLB advances		859,392		858,984		—		858,984		—
Other borrowing		50,000		50,000		—		50,000		—
Interest payable		23,384		23,384		—		23,384		—
December 31, 2021
Financial assets:
Cash and cash equivalents	$	1,032,614	$	1,032,614	$	1,032,614	$	—	$	—
Securities purchased under agreements to resell		5,888		5,888		—		5,888		—
FHLB stock		29,588		29,588		—		29,588		—
Loans held for sale		3,254,616		3,254,616		—		3,254,616		—
Loans receivable, net		5,751,319		5,731,500		—		—		5,731,500
Interest receivable		24,103		24,103		—		24,103		—
Financial liabilities:
Deposits		8,982,613		8,982,680		7,783,553		1,199,127		—
Short-term subordinated debt		17,000		17,000		—		17,000		—
FHLB advances		556,954		556,925		—		556,925		—
Other borrowing		460,000		460,000		—		460,000		—
Interest payable		1,469		1,469		—		1,469		—