Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Summary of information regarding the Company's derivative financial instruments

	December 31, 2022				December 31, 2021
	Notional				Notional
	Amount		Fair Value (1)		Amount		Fair Value (1)
	(In thousands)
Interest rate swaps (cash flow hedge)	$	700,750	$	31,716	$	355,000	$	7,328
Interest rate swaps (fair value hedge)		273,607		24,673		—		—
Interest rate swaps (non-hedge)		110,598		18,197		113,988		3,355
Interest rate swaps (cash flow hedge)		170,750		(210)		641,500		(9,387)
Interest rate swaps (fair value hedge)		—		—		299,555		(12,329)
Interest rate swaps (non-hedge)		110,598		(18,197)		113,988		(3,355)
Total derivatives	$	1,366,303	$	56,179	$	1,524,031	$	(14,388)

(1) Derivatives in a net positive position are recorded as “Other assets” and derivatives in a net negative position are recorded as “Other liabilities” in the Consolidated Statements of Financial Condition.

Schedule of fair value hedged items for the periods indicated

						Cumulative Amount
						of the Fair Hedging Adjustment
Line Item in the Consolidated		Carrying Amount of the				Included in the Carrying Amount of
Statement of Financial Condition in		Hedged Assets				the Hedged Assets
Which the Hedged Item is Included		At December 31,				At December 31,
(In thousands)		2022		2021		2022		2021
Loans:
Multi-family residential	$	82,613	$	113,730	$	(10,480)	$	7,608
Commercial real estate		167,353		192,694		(15,442)		3,477
Commercial business and other		—		6,298		—		122
Total	$	249,966	$	312,722	$	(25,922)	$	11,207

Schedule of effect of derivative instruments on the Consolidated Statements of Income

		For the years ended
		December 31,
(In thousands)	Affected Line Item in the Statements Where Net Income is Presented	2022		2021		2020
Financial Derivatives:
	Other interest expense	$	-	$	(305)	$	(434)
	Net gain (loss) from fair value adjustments		-		978		(2,325)
Interest rate swaps (non-hedge)			-		673		(2,759)
Interest rate swaps (fair value hedge)	Interest and fees on loans		96		(3,481)		(5,226)
	Other interest expense		(2,218)		(10,554)		(6,703)
	Deposit		2,504		(139)		-
Interest rate swaps (cash flow hedge)			286		(10,693)		(6,703)
Net income (loss)		$	382	$	(13,501)	$	(14,688)

Schedule of effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition

December 31, 2022

Gross Amounts Not Offset in the

Consolidated Statements of

Gross Amount Offset in

Net Amount of Assets

Financial Condition

Gross Amount of

the Statements

Presented in the

Financial

Cash Collateral

(In thousands)

Recognized Assets

of Condition

Statements of Condition

Instruments

Received

Net Amount

Interest rate swaps

$

74,586

$

—

$

74,586

$

—

$

72,185

$

2,401

Gross Amounts Not Offset in the

Consolidated Statements of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Financial Condition

Recognized

the Statements

Presented in the

Financial

Cash Collateral

(In thousands)

Liabilities

of Condition

Statements of Condition

Instruments

Pledged

Net Amount

Interest rate swaps

$

18,407

$

—

$

18,407

$

—

$

—

$

18,407

December 31, 2021

Gross Amounts Not Offset in the

Consolidated Statements of

Gross Amount Offset in

Net Amount of Assets

Financial Condition

Gross Amount of

the Statements

Presented in the

Financial

Cash Collateral

(In thousands)

Recognized Assets

of Condition

Statements of Condition

Instruments

Received

Net Amount

Interest rate swaps

$

10,683

$

—

$

10,683

$

—

$

—

$

10,683

Gross Amounts Not Offset in the

Consolidated Statements of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Financial Condition

Recognized

the Statements

Presented in the

Financial

Cash Collateral

(In thousands)

Liabilities

of Condition

Statements of Condition

Instruments

Pledged

Net Amount

Interest rate swaps

$

25,071

$

—

$

25,071

$

—

$

21,527

$

3,544