FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2021

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair Value, Assets and Liabilities Measured on Recurring Basis

			Fair Value Measurements
			at June 30, 2021 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency notes	$	81,035	$	—	$	81,035	$	—
Treasury securities		167,998		—		167,998		—
Corporate securities		108,064		—		108,064		—
Pass-through MBS issued by GSEs		331,749		—		331,749		—
Agency CMOs		531,490		—		531,490		—
State and municipal obligations		41,452		—		41,452		—
Derivative – cash flow hedges		2,547		—		2,547		—
Derivative – freestanding derivatives, net		42,892		—		42,892		—
Financial Liabilities:
Derivative – freestanding derivatives, net		42,892		—		42,892		—

			Fair Value Measurements
			at December 31, 2020 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Marketable equity securities (Registered mutual funds)
Domestic equity mutual funds	$	1,769	$	1,769	$	—	$	—
International equity mutual funds		468		468		—		—
Fixed income mutual funds		3,733		3,733		—		—
Securities available-for-sale:
Agency notes		47,421		—		47,421		—
Corporate securities		64,461		—		64,461		—
Pass-through MBS issued by GSEs		143,483		—		143,483		—
Agency CMOs		283,496		—		283,496		—
Derivative – freestanding derivatives		30,596		—		30,596		—
Financial Liabilities:
Derivative – cash flow hedges		18,442		—		18,442		—
Derivative – freestanding derivatives		30,596		—		30,596		—

Schedule of assets measured at fair value on a non-recurring basis

	June 30, 2021
				Fair Value Measurements Using:
			Quoted Prices
			In Active		Significant
			Markets for		Other	Significant
			Identical		Observable	Unobservable
	Carrying		Assets		Inputs	Inputs
(In thousands)	Value		(Level 1)		(Level 2)	(Level 3)
Individually evaluated loans	$	47,951				$	47,951

Fair Value Measurements, Nonrecurring

			Fair Value Measurements
			at June 30, 2021 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets
Cash and due from banks	$	1,184,183	$	1,184,183	$	—	$	—	$	1,184,183
Loans, net		9,453,871		—		—		9,523,466		9,523,466
Accrued interest receivable		47,209		—		3,415		43,794		47,209
Financial Liabilities
Savings, money market and checking accounts		9,765,228		9,765,228		—		—		9,765,228
Certificates of Deposits ("CDs")		1,300,965		—		1,307,876		—		1,307,876
FHLBNY Advances		25,000		—		25,013		—		25,013
Subordinated debt, net		197,188		—		203,201		—		203,201
Other borrowings		1,841		1,841		—		—		1,841
Accrued interest payable		1,068		—		1,068		—		1,068

			Fair Value Measurements
			at December 31, 2020 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets
Cash and due from banks	$	243,603	$	243,603	$	—	$	—	$	243,603
Loans, net		5,580,583		—		—		5,598,787		5,598,787
Accrued interest receivable		34,815		2		1,584		33,229		34,815
Financial Liabilities
Savings, money market and checking accounts		3,212,495		3,212,495		—		—		3,212,495
CDs		1,322,638		—		1,328,554		—		1,328,554
FHLBNY Advances		1,204,010		—		1,207,890		—		1,207,890
Subordinated debt, net		114,052		—		114,340		—		114,340
Other borrowings		120,000		120,000		—		—		120,000
Accrued interest payable		1,734		—		1,734		—		1,734