DERIVATIVES AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

DERIVATIVES AND HEDGING ACTIVITIES

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition

	December 31, 2023				December 31, 2022
	Notional		Fair Value		Notional		Fair Value
(Dollars in thousands)	Amount		Assets		Amount		Assets
Derivatives designated as hedging instruments
Cash flow hedges - interest rate products	$	150,000	$	12,492	$	150,000	$	17,874
Derivatives not designated as hedging instruments
Interest rate products		1,682,961		114,671		1,594,356		137,335

	December 31, 2023				December 31, 2022
	Notional		Fair Value		Notional		Fair Value
(Dollars in thousands)	Amount		Liabilities		Amount		Liabilities
Derivatives designated as hedging instruments
Fair value hedges - interest rate products	$	500,000	$	6,594	$	—	$	—
Cash flow hedges - interest rate products		200,000		5,031		—		—
Derivatives not designated as hedging instruments
Interest rate products		1,682,961		114,671		1,594,356		137,335
Other contracts		93,891		24		71,103		33

Schedule of fair value and cash flow hedge accounting on the consolidated statements of operations

	December 31, 2023				December 31, 2022
	Interest		Interest		Interest		Interest
	Income		Expense		Income		Expense
Effects of fair value or cash flow hedges are recorded	$	561	$	2,275	$	—	$	—
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships
Interest contracts
Hedged items		6,591		—		—		—
Derivatives designated as hedging instruments		(6,030)		—		—		—
Gain or (loss) on cash flow hedging relationships
Interest contracts
Gain (loss) reclassified from AOCI into income		—		2,275		—		1,134

Schedule of cumulative basis adjustment for fair value hedges

	Year Ended December 31,
	2023				2022
(Dollars in thousands)	Carrying Amount of the Hedged Assets		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets		Carrying Amount of the Hedged Assets		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
Fixed Rate Loans	$	506,591	$	6,591	$	—	$	—

Schedule of 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 loss as of December 31, 2023, 2022 and 2021.

	Year Ended December 31,
(In thousands)	2023		2022		2021
(Loss) gain recognized in other comprehensive income (loss)	$	(11,782)	$	14,412	$	5,277
Gain recognized on termination of derivatives		—		—		16,505
(Loss) gain reclassified from other comprehensive income into interest expense		(2,092)		1,621		(940)

Not Designated as Hedging Instrument

DERIVATIVES AND HEDGING ACTIVITIES

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition

	December 31, 2023
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	49	$	491,394	$	10,985	$	—
Loan level interest rate swaps with borrower	178		1,121,085		—		103,570
Loan level interest rate floors with borrower	2		29,721		—		—
Loan level interest rate floors with borrower	7		40,761		—		116
Loan level interest rate swaps with third-party counterparties	49		491,394		—		10,985
Loan level interest rate swaps with third-party counterparties	178		1,121,085		103,570		—
Loan level interest rate floors with third-party counterparties	2		29,721		—		—
Loan level interest rate floors with third-party counterparties	7		40,761		116		—

	December 31, 2022
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	3	$	53,311	$	1,524	$	—
Loan level interest rate swaps with borrower	185		1,214,736		—		126,751
Loan level interest rate floors with borrower	40		326,309		—		9,060
Loan level interest rate swaps with third-party counterparties	3		53,311		—		1,524
Loan level interest rate swaps with third-party counterparties	185		1,214,736		126,751		—
Loan level interest rate floors with third-party counterparties	40		326,309		9,060		—

Schedule of loan level derivative income

	Year Ended December 31,
(In thousands)	2023		2022		2021
Loan level derivative income	$	7,081	$	3,637	$	2,909