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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Reported on Consolidated Statements of Financial Condition at Fair Values

The following tables present the assets and liabilities reported on the consolidated statements of financial condition at their fair value as of December 31, 2020 and 2019, by level within the fair value hierarchy (in thousands).

									Fair Value Measurements at Reporting Date Using:
			December 31, 2020						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Available for sale debt securities:
Agency obligations			$	1,009					1,009						—						—
Mortgage-backed securities			938,413						—						938,413						—
Asset-backed securities			53,830												53,830
State and municipal obligations			71,258						—						71,258						—
Corporate obligations			40,979						—						40,979						—
Total available for sale debt securities			$	1,105,489					1,009						1,104,480						—
Equity Securities			971						971						—						—
Derivative assets			101,079						—						101,079
			$	1,207,539					1,980						1,205,559						—
Derivative liabilities			$	109,148					—						109,148						—
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral			$	26,250					—						—						26,250
Foreclosed assets			4,475						—						—						4,475
			$	30,725					—						—						30,725

									Fair Value Measurements at Reporting Date Using:
			December 31, 2019						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Available for sale debt securities:
Mortgage-backed securities			$	947,430					—						947,430						—
State and municipal obligations			4,079						—						4,079						—
Corporate obligations			25,410						—						25,410						—
Total available for sale debt securities			$	976,919					—						976,919						—
Equity Securities			825						825						—						—
Derivative assets			39,305						—						39,305						—
			$	1,017,049					825						1,016,224						—
Derivative liabilities			$	39,356					—						39,356						—
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral			$	20,403					—						—						20,403
Foreclosed assets			2,715						—						—						2,715
			$	23,118					—						—						23,118

Schedule of Financial Instruments at Carrying and Fair Values

The following tables present the Company’s financial instruments at their carrying and fair values as of December 31, 2020 and December 31, 2019. Fair values are presented by level within the fair value hierarchy.

									Fair Value Measurements at December 31, 2020 Using:
(Dollars in thousands)			Carrying value						Fair value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents			$	532,353					532,353						532,353						—						—
Available for sale debt securities:
Agency obligations			$	1,009					1,009						1,009						—						—
Mortgage-backed securities			938,413						938,413						—						938,413						—
Asset-backed securities			53,830						53,830												53,830
State and municipal obligations			71,258						71,258						—						71,258						—
Corporate obligations			40,979						40,979						—						40,979						—
Total available for sale debt securities			$	1,105,489					1,105,489						1,009						1,104,480						—
Held to maturity debt securities, net of allowance for credit losses:
Agency obligations			$	7,600					7,601						7,601						—						—
Mortgage-backed securities			62						64						—						64						—
State and municipal obligations			433,589						454,973						—						454,973						—
Corporate obligations			9,714						9,813						—						9,813						—
Total held to maturity debt securities, net of allowance for credit losses			$	450,965					472,451						7,601						464,850						—
FHLBNY stock			59,489						59,489						59,489						—						—
Equity Securities			971						971						971						—						—
Loans, net of allowance for credit losses			9,721,424						9,969,330						—						—						9,969,330
Derivative assets			101,079						101,079						—						101,079						—
Financial liabilities:
Deposits other than certificates of deposits			$	8,743,655					8,743,655						8,743,655						—						—
Certificates of deposit			1,094,174						1,097,993						—						1,097,993						—
Total deposits			$	9,837,829					9,841,648						8,743,655						1,097,993						—
Borrowings			1,175,972						1,193,024						—						1,193,024						—
Subordinated Debentures			25,135						24,375						—						24,375						—
Derivative liabilities			109,148						109,148						—						109,148						—

									Fair Value Measurements at December 31, 2019 Using:
(Dollars in thousands)			Carrying value						Fair value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents			$	186,748					186,748						186,748						—						—
Available for sale debt securities:
Mortgage-backed securities			947,430						947,430						—						947,430						—
State and municipal obligations			4,079						4,079						—						4,079						—
Corporate obligations			25,410						25,410						—						25,410						—
Total available for sale debt securities			$	976,919					976,919						—						976,919						—
Held to maturity debt securities:
Agency obligations			$	6,599					6,601						6,601						—						—
Mortgage-backed securities			118						122						—						122						—
State and municipal obligations			437,074						451,353						—						451,353						—
Corporate obligations			9,838						9,890						—						9,890						—
Total held to maturity debt securities			$	453,629					467,966						6,601						461,365						—
FHLBNY stock			57,298						57,298						57,298						—						—
Equity Securities			825						825						825						—						—
Loans, net of allowance for credit losses			7,277,360						7,296,744						—						—						7,296,744
Derivative assets			39,305						39,305						—						39,305						—
Financial liabilities:
Deposits other than certificates of deposits			$	6,368,582					6,368,582						6,368,582						—						—
Certificates of deposit			734,027						734,047						—						734,047						—
Total deposits			$	7,102,609					7,102,629						6,368,582						734,047						—
Borrowings			1,125,146						1,127,569						—						1,127,569						—
Derivative liabilities			39,356						39,356						—						39,356						—

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- Definition

Schedule of Fair Value of Financial Instruments [Table Text Block]

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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