DERIVATIVES AND HEDGING (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

As of December 31, 2023 and December 31, 2022, the notional values or contractual amounts and fair values of the Company’s derivatives were as follows (in thousands):

	Asset Derivatives								Liability Derivatives
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	Notional/ Contract Amount		Fair Value		Notional/ Contract Amount		Fair Value		Notional/ Contract Amount		Fair Value		Notional/ Contract Amount		Fair Value
Hedged interest rate swaps	$	—	$	—	$	—	$	—	$	400,000	$	15,141	$	400,000	$	26,485
Interest rate swaps not designated in hedge relationships	$	416,711	$	29,058	$	440,731	$	37,119	$	416,711	$	29,126	$	440,731	$	37,150
Master netting agreements			(13,929)				(17,780)				(13,929)				(17,780)
Cash offset/(settlement)			—				—				(529)				(8,705)
Net interest rate swaps			15,129				19,339				29,809				37,150
Risk participation agreements	1,050		—		1,283		—		45,298		42		47,283		67
Mortgage loan commitments	19,572		275		15,920		81		—		—		12,367		42
Forward sales contracts	5,406		—		16,568		61		17,966		185		3,000		76
Total	$	442,739	$	15,404	$	474,502	$	19,481	$	479,975	$	30,036	$	503,381	$	37,335

The Company’s asset derivatives are included in other assets, while the liability derivatives are included in accrued expenses and other liabilities on the Consolidated Statements of Financial Condition.

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table presents the effect of cash flow hedge accounting on AOCI for the years ended December 31, 2023 and 2022 (in thousands):

	For the Year Ended December 31, 2023
	Amount of Gain or (Loss) Recognized in AOCI on Derivative		Amount of Gain or (Loss) Recognized in AOCI Included Component		Amount of Gain or (Loss) Recognized in AOCI Excluded Component		Location of Gain or (Loss) Recognized from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest rate swaps	$	(4,398)	$	(4,398)	$	—	Interest Income	$	(16,955)	$	(16,955)	$	—

	For the Year Ended December 31, 2022
	Amount of Gain or (Loss) Recognized in AOCI on Derivative		Amount of Gain or (Loss) Recognized in AOCI Included Component		Amount of Gain or (Loss) Recognized in AOCI Excluded Component		Location of Gain or (Loss) Recognized from AOCI into Income	Amount of Gain or (Loss) Reclassified from AOCI into Income		Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component		Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest rate swaps	$	(28,418)	$	(28,418)	$	—	Interest Income	$	(3,195)	$	(3,195)	$	—

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

Gains (losses) recognized in income within mortgage banking operations on non-designated hedging instruments for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):

	For the Years Ended December 31
	2023		2022		2021
Mortgage loan commitments	$	263	$	(1,427)	$	(3,754)
Forward sales contracts	313		84		1,243
	$	576	$	(1,343)	$	(2,511)

Offsetting Assets

The following presents additional information related to the Company’s interest rate swaps, both designated and non-designated as hedged, as of December 31, 2023 and December 31, 2022 (in thousands):

	December 31, 2023
							Gross Amounts of Financial Instruments Not Offset in the Consolidated Statement of Financial Condition
	Gross Amounts Recognized		Amounts offset in the Statement of Financial Condition		Net Amounts in the Statement of Financial Condition		Netting Adjustment Per Applicable Master Netting Agreements		Fair Value of Financial Collateral in the Statement of Financial Condition		Net Amount
Derivative assets
Interest rate swaps	$	29,058	$	(13,929)	$	15,129	$	—	$	—	$	15,129
	$	29,058	$	(13,929)	$	15,129	$	—	$	—	$	15,129
Derivative liabilities
Interest rate swaps	$	44,267	$	(14,458)	$	29,809	$	—	$	(13,124)	$	16,685
	$	44,267	$	(14,458)	$	29,809	$	—	$	(13,124)	$	16,685
	December 31, 2022
							Gross Amounts of Financial Instruments Not Offset in the Consolidated Statement of Financial Condition
	Gross Amounts Recognized		Amounts offset in the Statement of Financial Condition		Net Amounts in the Statement of Financial Condition		Netting Adjustment Per Applicable Master Netting Agreements		Fair Value of Financial Collateral in the Statement of Financial Condition		Net Amount
Derivative assets
Interest rate swaps	$	37,119	$	(17,780)	$	19,339	$	—	$	—	$	19,339
	$	37,119	$	(17,780)	$	19,339	$	—	$	—	$	19,339
Derivative liabilities
Interest rate swaps	$	63,634	$	(26,484)	$	37,150	$	—	$	(14,972)	$	22,178
	$	63,634	$	(26,484)	$	37,150	$	—	$	(14,972)	$	22,178