FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2021

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair Value, Assets and Liabilities Measured on Recurring Basis

			Fair Value Measurements
			at September 30, 2021 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency notes	$	81,018	$	—	$	81,018	$	—
Treasury securities		247,696		—		247,696		—
Corporate securities		126,833		—		126,833		—
Pass-through MBS issued by GSEs		621,957		—		621,957		—
Agency CMOs		590,426		—		590,426		—
State and municipal obligations		41,133		—		41,133		—
Derivative – cash flow hedges		2,811		—		2,811		—
Derivative – freestanding derivatives, net		38,889		—		38,889		—
Financial Liabilities:
Derivative – freestanding derivatives, net		38,889		—		38,889		—

			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

	September 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	$	55,146	$	—	$	—	$	55,146

Fair Value Measurements, Nonrecurring

			Fair Value Measurements
			at September 30, 2021 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	629,011	$	629,011	$	—	$	—	$	629,011
Securities held-to-maturity		40,303		—		40,303		—		40,303
Loans held for investment, net		9,148,470		—		—		9,212,454		9,212,454
Accrued interest receivable		43,284		—		4,228		39,056		43,284
Financial Liabilities:
Savings, money market and checking accounts		9,657,821		9,657,821		—		—		9,657,821
Certificates of Deposits ("CDs")		1,016,216		—		1,021,029		—		1,021,029
FHLBNY advances		25,000		—		25,015		—		25,015
Subordinated debt, net		197,142		—		203,355		—		203,355
Other short-term borrowings		2,629		2,629		—		—		2,629
Accrued interest payable		1,630		—		1,630		—		1,630

			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 held for investment, 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		3,202,484		3,202,484		—		—		3,202,484
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 short-term borrowings		120,000		120,000		—		—		120,000
Accrued interest payable		1,734		—		1,734		—		1,734