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v3.25.1

Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Summary of Significant Accounting Policies |
Summary of information regarding the Company's derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Assets |  | Liabilities
​ | ​ | Notional | ​ | ​ | ​ | ​ | Notional | ​ | ​ | ​
​ |  | Amount |  | Fair Value (1) |  | Amount |  | Fair Value (1)
March 31, 2025 | ​ | (In thousands)
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (deposits) | ​ | $ | 530,000 | ​ | $ | 5,370 | ​ | $ | 420,750 | ​ | $ | 1,059
Interest rate floor options (loans) | ​ | ​ | 100,000 | ​ | ​ | 1,327 | ​ | ​ | — | ​ | ​ | —
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (loans) | ​ | ​ | 493,799 | ​ | ​ | 15,612 | ​ | ​ | 300,000 | ​ | ​ | 789
Non hedge: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (loans) | ​ |  | 502,972 | ​ | ​ | 23,371 | ​ | ​ | 502,972 | ​ | ​ | 23,371
Total | ​ | $ | 1,626,771 | ​ | $ | 45,680 | ​ | $ | 1,223,722 | ​ | $ | 25,219
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (deposits) | ​ | $ | 950,750 | ​ | $ | 14,686 | ​ | $ | — | ​ | $ | —
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (loans) | ​ | ​ | 560,587 | ​ | ​ | 19,812 | ​ | ​ | 135,000 | ​ | ​ | 194
Non hedge: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (loans) | ​ |  | 486,929 | ​ | ​ | 20,202 | ​ | ​ | 486,929 | ​ | ​ | 20,202
Total | ​ | $ | 1,998,266 | ​ | $ | 54,700 | ​ | $ | 621,929 | ​ | $ | 20,396
(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 Value 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) | ​ | March 31, 2025 | ​ | December 31, 2024 | ​ | March 31, 2025 | ​ | December 31, 2024
Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family residential | ​ | $ | 88,948 | ​ | $ | 76,882 | ​ | $ | 1,732 | ​ | $ | (11,015)
Commercial real estate | ​ | ​ | 83,065 | ​ | ​ | 62,843 | ​ | ​ | 999 | ​ | ​ | (4,009)
Commercial business | ​ | ​ | 26,600 | ​ | ​ | 39,500 | ​ | ​ | 304 | ​ | ​ | (3,113)
Total | ​ | $ | 198,613 | ​ | $ | 179,225 | ​ | $ | 3,035 | ​ | $ | (18,137)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Portfolio Layer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for Investment (1) | ​ | $ | 600,000 | ​ | $ | 500,000 | ​ | $ | (232) | ​ | $ | (2,025)
Total | ​ | $ | 600,000 | ​ | $ | 500,000 | ​ | $ | (232) | ​ | $ | (2,025)
(1) Carrying amount represents the amortized cost of the portfolio layer method closed portfolio at March 31, 2025 and December 31, 2024, totaling $2.3 billion and $2.4 billion, respectively. The cumulative amount of basis adjustments at March 31, 2025 and December 31, 2024 were $0.2 million and $2.0 million, respectively. ​
Schedule of effect of derivative instruments on the Consolidated Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the three months ended
​ | ​ | Affected Line Item in the Statements | ​ | March 31,
(In thousands) |  | Where Net Income is Presented |  | 2025 |  | 2024
Financial Derivatives: | ​ | ​ | ​ | ​ |  |  | ​ |
Interest rate swaps - fair value hedge (loans) | ​ | Interest and fees on loans | ​ | ​ | 1,946 | ​ | ​ | 3,587
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - fair value hedge (securities) | ​ | Interest and dividends on securities | ​ | ​ | — | ​ | ​ | 949
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - non hedge (municipal deposit) | ​ | Interest expense - Deposits | ​ | ​ | — | ​ |  | 1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - cash flow hedge (short-term advances) | ​ | Other interest expense | ​ | ​ | — | ​ |  | 364
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - cash flow hedge (brokered deposits) | ​ | Interest expense - Deposits | ​ | ​ | 4,544 | ​ |  | 6,498
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate floor options - cash flow hedge (loans) | ​ | Interest and fees on loans | ​ | ​ | (12) | ​ | ​ | —
Total net income (expense) from the effects of derivative instruments | ​ | $ | 6,478 | ​ | $ | 11,399
Schedule of effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross Amount | ​ | Net Amount | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross Amounts | ​ | Offset in Statement of | ​ | Presented in Statement of | ​ | Financial | ​ | Cash | ​ | ​
(In thousands) |  | Recognized |  | Financial Condition |  | Financial Condition |  | Instruments |  | Collateral |  | Net Amount
March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 44,353 | ​ | $ | — | ​ | $ | 44,353 | ​ | $ | — | ​ | $ | (25,225) | ​ | $ | 19,128
Interest rate floor options | ​ | ​ | 1,327 | ​ | ​ | — | ​ | ​ | 1,327 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,327
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | ​ | 25,219 | ​ | ​ | — | ​ | ​ | 25,219 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25,219
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 54,700 | ​ | $ | — | ​ | $ | 54,700 | ​ | $ | — | ​ | $ | (47,665) | ​ | $ | 7,035
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | ​ | 20,396 | ​ | ​ | — | ​ | ​ | 20,396 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,396
​

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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