DERIVATIVES AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2023

DERIVATIVES AND HEDGING ACTIVITIES

Schedule of fair value of derivative Instruments and location in statements of financials

	Location in	Fair Value
	Consolidated Statements	September 30,		December 31,
	of Financial Condition	2023		2022
		(In Thousands)
Derivatives designated as hedging instruments
Active interest rate swaps	Accrued expenses and other liabilities	$	34,357	$	31,277
Total derivatives designated as hedging instruments		$	34,357	$	31,277
Derivatives not designated as hedging instruments
Asset Derivatives
Interest rate products	Prepaid expenses and other assets	$	10,619	$	11,061
Total derivatives not designated as hedging instruments		$	10,619	$	11,061
Liability Derivatives
Interest rate products	Accrued expenses and other liabilities	$	11,145	$	10,820
Total derivatives not designated as hedging instruments		$	11,145	$	10,820

Schedule of effect of cash flow hedge accounting through accumulated other comprehensive income on statements of comprehensive income

	Amount of Gain (Loss)
	Recognized in AOCI
	Three Months Ended September 30,
Cash Flow Hedges	2023		2022
	(In Thousands)
Terminated interest rate swap, net of income taxes	$	(1,580)	$	(1,580)
Active interest rate swaps, net of income taxes		(2,547)		(19,898)
	$	(4,127)	$	(21,478)

	Amount of Gain (Loss)
	Recognized in AOCI
	Nine Months Ended September 30,
Cash Flow Hedges	2023		2022
	(In Thousands)
Terminated interest rate swap, net of income taxes	$	(4,688)	$	(4,691)
Active interest rate swaps, net of income taxes		(2,323)		(25,570)
	$	(7,011)	$	(30,261)

Schedule of effect of cash flow hedge accounting on statements of operations

	Three Months Ended September 30,
Cash Flow Hedges	2023				2022
	Interest		Interest		Interest		Interest
	Income		Expense		Income		Expense
	(In Thousands)
Total Interest Income	$	75,272	$	—	$	59,657	$	—
Total Interest Expense		—		28,534		—		6,759
	$	75,272	$	28,534	$	59,657	$	6,759
Terminated interest rate swap	$	2,047	$	—	$	2,047	$	—
Active interest rate swaps		(5,545)		—		(428)		—
	$	(3,498)	$	—	$	1,619	$	—

	Nine Months Ended September 30,
Cash Flow Hedges	2023				2022
	Interest		Interest		Interest		Interest
	Income		Expense		Income		Expense
	(In Thousands)
Total Interest Income	$	220,353	$	—	$	159,028	$	—
Total Interest Expense		—		72,285		—		14,034
	$	220,353	$	72,285	$	159,028	$	14,034
Terminated interest rate swap	$	6,076	$	—	$	6,076	$	—
Active interest rate swaps		(11,925)		—		610		—
	$	(5,849)	$	—	$	6,686	$	—