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v3.22.2

Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Notes Tables |
Summary of information regarding the Company's derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2022 |  | December 31, 2021
​ | ​ | Notional | ​ | ​ | ​ | ​ | Notional | ​ | ​ | ​
​ |  | Amount |  | Fair Value (1) |  | Amount |  | Fair Value (1)
​ | ​ | (In thousands)
Interest rate swaps (cash flow hedge) | ​ | $ | 871,500 | ​ | $ | 26,483 | ​ | $ | 355,000 | ​ | $ | 7,328
Interest rate swaps (fair value hedge) | ​ |  | 279,615 | ​ |  | 14,274 | ​ |  | — | ​ |  | —
Interest rate swaps (non-hedge) | ​ | ​ | 112,293 | ​ | ​ | 13,228 | ​ | ​ | 113,988 | ​ | ​ | 3,355
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (fair value hedge) | ​ |  | 9,585 | ​ |  | (30) | ​ |  | 299,555 | ​ |  | (12,329)
Interest rate swaps (cash flow hedge) | ​ |  | — | ​ |  | — | ​ |  | 641,500 | ​ |  | (9,387)
Interest rate swaps (non-hedge) | ​ |  | 112,293 | ​ |  | (13,228) | ​ |  | 113,988 | ​ |  | (3,355)
Total derivatives | ​ | $ | 1,385,286 | ​ | $ | 40,727 | ​ | $ | 1,524,031 | ​ | $ | (14,388)
(1)Derivatives in a positive position are recorded as “Other assets” and derivatives in a 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 Statement | ​ | ​ | Carrying Amount of the | ​ | ​ | Included in the Carrying Amount of
of Financial Condition in Which | ​ | ​ | Hedged | ​ | ​ | the Hedged
the Hedged Item Is Included | ​ | ​ | Assets/(Liabilities) | ​ | ​ | Assets/(Liabilities)
(In thousands) | ​ | ​ | June 30, 2022 | ​ | ​ | December 31, 2021 | ​ | ​ | June 30, 2022 | ​ | ​ | December 31, 2021
Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family residential | ​ | $ | 98,970 | ​ | $ | 113,730 | ​ | $ | (5,819) | ​ | $ | 7,608
Commercial real estate | ​ | ​ | 176,894 | ​ | ​ | 192,694 | ​ | ​ | (9,749) | ​ | ​ | 3,477
Commercial business and other | ​ | ​ | — | ​ | ​ | 6,298 | ​ | ​ | — | ​ | ​ | 122
Total | ​ | $ | 275,864 | ​ | $ | 312,722 | ​ | $ | (15,568) | ​ | $ | 11,207
Schedule of effect of derivative instruments on the Consolidated Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | For the three months ended |  | For the six months ended
​ | ​ | ​ | June 30, | ​ | June 30,
(In thousands) | Affected Line Item in the Statements Where Net Income is Presented |  | 2022 |  | 2021 |  | 2022 |  | 2021
Financial Derivatives: | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
​ | Other interest expense | ​ | $ | — | ​ | $ | (138) | ​ | $ | — | ​ | $ | (272)
​ | Net gain (loss) from fair value adjustments | ​ | ​ | — | ​ | ​ | (1,195) | ​ | ​ | — | ​ | ​ | 1,423
Interest rate swaps (non-hedge) | ​ | ​ | ​ | — | ​ | ​ | (1,333) | ​ | ​ | — | ​ | ​ | 1,151
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (fair value hedge) | Interest and fees on loans | ​ | ​ | (886) | ​ | ​ | (2,062) | ​ | ​ | (2,321) | ​ | ​ | (2,025)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Other interest expense | ​ |  | (1,489) | ​ |  | (2,619) | ​ |  | (3,954) | ​ | ​ | (5,205)
​ | Deposit | ​ | ​ | 104 | ​ | ​ | — | ​ | ​ | 49 | ​ | ​ | —
Interest rate swaps (cash flow hedge) | ​ | ​ | ​ | (1,385) | ​ | ​ | (2,619) | ​ | ​ | (3,905) | ​ | ​ | (5,205)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss | ​ | ​ | $ | (2,271) | ​ | $ | (6,014) | ​ | $ | (6,226) | ​ | $ | (6,079)
Schedule of effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 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 | ​ | $ | 53,985 | ​ | $ | — | ​ | $ | 53,985 | ​ | $ | — | ​ | $ | 38,972 |  | $ | 15,013
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 13,258 | ​ | $ | — | ​ | $ | 13,258 | ​ | $ | — | ​ | $ | — |  | $ | 13,258
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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