FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value, assets and liabilities measured on recurring basis

			Fair Value Measurements
			at June 30, 2023 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency notes	$	9,145	$	—	$	9,145	$	—
Treasury securities		228,607		—		228,607		—
Corporate securities		139,553		—		139,553		—
Pass-through MBS issued by GSEs		222,584		—		222,584		—
Agency CMOs		265,673		—		265,673		—
State and municipal obligations		29,294		—		29,294		—
Derivative – cash flow hedges		16,611		—		16,611		—
Derivative – freestanding derivatives, net		131,130		—		131,130		—
Financial Liabilities:
Derivative – freestanding derivatives, net		131,130		—		131,130		—

			Fair Value Measurements
			at December 31, 2022 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Treasury securities	$	227,256	$	—	$	227,256	$	—
Corporate securities		166,773		—		166,773		—
Pass-through MBS issued by GSEs		241,240		—		241,240		—
Agency CMOs		281,339		—		281,339		—
State and municipal obligations		33,979		—		33,979		—
Derivative – cash flow hedges		17,150		—		17,150		—
Derivative – freestanding derivatives, net		137,335		—		137,335		—
Financial Liabilities:
Derivative – freestanding derivatives, net		137,335		—		137,335		—

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

	June 30, 2023
				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	$	352	$	—	$	—	$	352

	December 31, 2022
				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	$	1,179	$	—	$	—	$	1,179

Fair value measurements, nonrecurring

			Fair Value Measurements
			at June 30, 2023 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	452,504	$	452,504	$	—	$	—	$	452,504
Securities held-to-maturity		603,960		—		520,069		—		520,069
Loans held for investment, net		10,800,417		—		—		10,245,728		10,245,728
Accrued interest receivable		51,787		—		6,205		45,582		51,787
Financial Liabilities:
Savings, money market and checking accounts (1)		8,991,943		8,991,943		—		—		8,991,943
Certificates of Deposits ("CDs")		1,530,749		—		1,522,515		—		1,522,515
FHLBNY advances		1,448,000		—		1,444,184		—		1,444,184
Subordinated debt, net		200,240		—		158,240		—		158,240
Accrued interest payable		18,098		—		18,098		—		18,098

⁽¹⁾ Includes mortgage escrow deposits.

			Fair Value Measurements
			at December 31, 2022 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	169,297	$	169,297	$	—	$	—	$	169,297
Securities held-to-maturity		585,798		—		505,759		—		505,759
Loans held for investment, net		10,482,145		—		—		10,005,121		10,005,121
Accrued interest receivable		48,561		—		6,105		42,456		48,561
Financial Liabilities:
Savings, money market and checking accounts (1)		9,139,043		9,139,043		—		—		9,139,043
Certificates of Deposits ("CDs")		1,115,364		—		1,096,808		—		1,096,808
FHLBNY advances		1,131,000		—		1,131,217		—		1,131,217
Subordinated debt, net		200,283		—		180,583		—		180,583
Other short-term borrowings		1,360		1,360		—		—		1,360
Accrued interest payable		5,323		—		5,323		—		5,323