FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value, assets and liabilities measured on recurring basis

			Fair Value Measurements
			at September 30, 2023 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Agency notes	$	9,143	$	—	$	9,143	$	—
Treasury securities		229,873		—		229,873		—
Corporate securities		141,087		—		141,087		—
Pass-through MBS issued by GSEs		206,203		—		206,203		—
Agency CMOs		255,642		—		255,642		—
State and municipal obligations		27,931		—		27,931		—
Derivative – cash flow hedges		16,657		—		16,657		—
Derivative – freestanding derivatives, net		160,712		—		160,712		—
Financial Liabilities:
Derivative – freestanding derivatives, net		160,712		—		160,712		—

			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

	September 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

Schedule of fair value measurements, nonrecurring

			Fair Value Measurements
			at September 30, 2023 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	358,824	$	358,824	$	—	$	—	$	358,824
Securities held-to-maturity		600,291		—		495,986		—		495,986
Loans held for investment, net		10,777,696		—		—		10,255,764		10,255,764
Accrued interest receivable		53,608		—		5,525		48,083		53,608
Financial Liabilities:
Savings, money market and checking accounts (1)		9,194,247		9,194,247		—		—		9,194,247
Certificates of Deposits ("CDs")		1,442,299		—		1,433,548		—		1,433,548
FHLBNY advances		1,123,000		—		1,119,564		—		1,119,564
Subordinated debt, net		200,218		—		162,218		—		162,218
Accrued interest payable		19,948		—		19,948		—		19,948

⁽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