DERIVATIVES AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 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) for the periods indicated:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2021		2020		2021		2020
(Loss) gain recognized in other comprehensive income	$	(1,406)	$	(4,617)	$	3,542	$	(25,198)
Gain recognized on termination of derivatives		—		—		16,505		—
Gain (loss) reclassified from other comprehensive income into interest expense		(10)		(1,156)		(864)		(1,360)

Designated as Hedging Instrument

Derivatives, Fair Value [Line Items]

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

	June 30, 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	$	2,547	$	—	—	$	—	$	—	$	—
Interest rate swaps related to FHLBNY advances	—	$	—	$	—	$	—	32	$	655,000	$	—	$	(18,442)

Not Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

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

	June 30, 2021
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	137	$	937,092	$	42,753	$	—
Loan level interest rate swaps with borrower	49		314,786		—		(4,750)
Loan level interest rate floors with borrower	47		407,249		—		(4,743)
Loan level interest rate swaps with third-party counterparties	137		937,092		—		(42,753)
Loan level interest rate swaps with third-party counterparties	49		314,786		4,750		—
Loan level interest rate floors with third-party counterparties	47		407,249		4,743		—

	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				Six Months Ended
	June 30,				June 30,
(In thousands)	2021		2020		2021		2020
Loan level derivative income	$	559	$	2,494	$	2,351	$	3,657