DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2024

DERIVATIVES AND HEDGING ACTIVITIES

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

	Location in	Fair Value
	Consolidated Statements	March 31,		December 31,
	of Financial Condition	2024		2023
		(In Thousands)
Derivatives designated as hedging instruments
Derivative Liabilities
Active interest rate swap	Accrued expenses and other liabilities	$	21,233	$	17,296
Total derivatives designated as hedging instruments		$	21,233	$	17,296
Derivatives not designated as hedging instruments
Asset Derivatives
Interest rate products	Prepaid expenses and other assets	$	9,093	$	8,205
Total derivatives not designated as hedging instruments		$	9,093	$	8,205
Liability Derivatives
Interest rate products	Accrued expenses and other liabilities	$	8,969	$	8,040
Total derivatives not designated as hedging instruments		$	8,969	$	8,040

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 March 31,
Cash Flow Hedges	2024		2023
	(In Thousands)
Terminated interest rate swap, net of income taxes	$	(1,564)	$	(1,546)
Active interest rate swaps, net of income taxes		(2,968)		6,575
	$	(4,532)	$	5,029

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

	Three Months Ended March 31,
Cash Flow Hedges	2024				2023
	Interest		Interest		Interest		Interest
	Income		Expense		Income		Expense
	(In Thousands)
Total Interest Income	$	77,390	$	—	$	71,463	$	—
Total Interest Expense		—		32,574		—		18,271
	$	77,390	$	32,574	$	71,463	$	18,271
Terminated interest rate swap	$	2,047	$	—	$	2,003	$	—
Active interest rate swaps		(4,653)		—		(2,154)		—
	$	(2,606)	$	—	$	(151)	$	—