DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2021

Derivatives, Fair Value [Line Items]

Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

The table below presents the effect of the cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss) as of March 31, 2021 and 2020.

	Three Months Ended
	March 31,
(In thousands)	2021		2020
Gain recognized in other comprehensive income	$	21,453	$	(20,581)
Gain reclassified from other comprehensive income into interest expense		854		204

Designated as Hedging Instrument

Derivatives, Fair Value [Line Items]

Fair Value of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of the periods indicated.

	March 31, 2021							December 31, 2020
		Notional		Fair Value		Fair Value			Notional		Fair Value		Fair Value
(Dollars in thousands)	Count	Amount		Assets		Liabilities		Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Interest rate swaps related to FHLBNY advances	4	$	150,000	$	3,944	$	—	—	$	—	$	—	$	—
Interest rate swaps related to FHLBNY advances	—	$	—	$	—	$	—	32	$	655,000	$	—	$	(18,442)

Not Designated as Hedging Instrument

Derivatives, Fair Value [Line Items]

Fair Value of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition

	March 31, 2021
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	109	$	689,408	$	28,104	$	—
Loan level interest rate swaps with borrower	72		543,095		—		(16,468)
Loan level interest rate floors with borrower	46		406,923		—		(5,294)
Loan level interest rate swaps with third-party counterparties	109		689,408		—		(28,104)
Loan level interest rate swaps with third-party counterparties	72		543,095		16,468		—
Loan level interest rate floors with third-party counterparties	46		406,923		5,294		—

	December 31, 2020
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	65	$	570,277	$	24,764	$	—
Loan level interest rate floors with borrower	41		364,643		—		(5,832)
Loan level interest rate swaps with third-party counterparties	65		570,277		—		(24,764)
Loan level interest rate floors with third-party counterparties	41		364,643		5,832		—

Loan Level Derivative Income

Loan level derivative income is recognized on the mark-to-market of the interest rate swap as a fair value adjustment at the time the transaction is closed. Total loan level derivative income is included in non-interest income as follows:

	Three Months Ended
	March 31,
(In thousands)	2021		2020
Loan level derivative income	$	1,792	$	1,163