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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2023
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 values as of June 30, 2023 and December 31, 2022, by level within the fair value hierarchy (in thousands):
Fair Value Measurements at Reporting Date Using:
June 30, 2023Quoted 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:
U.S. Treasury obligations$247,067 247,067 — — 
Agency obligations31,753 31,753 — — 
Mortgage-backed securities1,346,724 — 1,346,724 — 
Asset-backed securities34,506 — 34,506 — 
State and municipal obligations55,725 — 55,725 — 
Corporate obligations34,114 — 34,114 — 
Total available for sale debt securities1,749,889 278,820 1,471,069 — 
Equity securities1,238 1,238 — — 
Derivative assets131,191 — 131,191 — 
$1,882,318 280,058 1,602,260 — 
Derivative liabilities$108,067 — 108,067 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$14,582 — — 14,582 
Foreclosed assets13,697 — — 13,697 
$28,279 — — 28,279 
Fair Value Measurements at Reporting Date Using:
December 31, 2022Quoted 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:
U.S. Treasury obligations$245,816 245,816 — — 
Mortgage-backed securities1,427,139 — 1,427,139 — 
Asset-backed securities37,621 — 37,621 — 
State and municipal obligations56,864 — 56,864 — 
Corporate obligations36,108 — 36,108 — 
Total available for sale debt securities1,803,548 245,816 1,557,732 — 
Equity Securities1,147 1,147 — — 
Derivative assets148,151 — 148,151 — 
$1,952,846 246,963 1,705,883 — 
Derivative liabilities$120,896 — 120,896 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$23,988 — — 23,988 
Foreclosed assets2,124 — — 2,124 
$26,112 — — 26,112 
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 June 30, 2023 and December 31, 2022. Fair values are presented by level within the fair value hierarchy.
Fair Value Measurements at June 30, 2023 Using:
(Dollars in thousands)Carrying valueFair valueQuoted 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$208,872 208,872 208,872 — — 
Available for sale debt securities:
U.S. Treasury obligations247,067 247,067 247,067 — — 
Agency obligations31,753 31,753 31,753 — — 
Mortgage-backed securities1,346,724 1,346,724 — 1,346,724 — 
Asset-backed securities34,506 34,506 — 34,506 — 
State and municipal obligations55,725 55,725 — 55,725 — 
Corporate obligations34,114 34,114 — 34,114 — 
Total available for sale debt securities$1,749,889 1,749,889 278,820 1,471,069 — 
Held to maturity debt securities, net of allowance for credit losses:
Agency obligations12,096 11,167 11,167 — — 
State and municipal obligations356,987 344,661 — 344,661 — 
Corporate obligations9,811 9,201 — 9,201 — 
Total held to maturity debt securities, net of allowance for credit losses$378,894 365,029 11,167 353,862 — 
FHLBNY stock93,330 93,330 93,330 — — 
Equity Securities1,238 1,238 1,238 — — 
Loans, net of allowance for credit losses10,428,458 9,969,672 — — 9,969,672 
Derivative assets131,191 131,191 — 131,191 — 
Financial liabilities:
Deposits other than certificates of deposits$9,240,791 9,240,791 9,240,791 — — 
Certificates of deposit1,020,329 1,015,211 — 1,015,211 — 
Total deposits$10,261,120 10,256,002 9,240,791 1,015,211 — 
Borrowings1,849,714 1,832,814 — 1,832,814 — 
Subordinated debentures10,596 9,118 — 9,118 — 
Derivative liabilities108,067 108,067 — 108,067 — 
Fair Value Measurements at December 31, 2022 Using:
(Dollars in thousands)Carrying valueFair valueQuoted 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$186,508 186,508 186,508 — — 
Available for sale debt securities:
U.S. Treasury obligations245,816 245,816 245,816 — — 
Mortgage-backed securities1,427,139 1,427,139 — 1,427,139 — 
Asset-backed securities37,621 37,621 — 37,621 — 
State and municipal obligations56,864 56,864 — 56,864 — 
Corporate obligations36,108 36,108 — 36,108 — 
Total available for sale debt securities$1,803,548 1,803,548 245,816 1,557,732 — 
Held to maturity debt securities:
Agency obligations$9,997 8,964 8,964 — — 
State and municipal obligations366,146 353,417 — 353,417 — 
Corporate obligations11,780 11,087 — 11,087 — 
Total held to maturity debt securities$387,923 373,468 8,964 364,504 — 
FHLBNY stock68,554 68,554 68,554 — — 
Equity Securities1,147 1,147 1,147 — — 
Loans, net of allowance for credit losses10,160,860 9,768,460 — — 9,768,460 
Derivative assets148,151 148,151 — 148,151 — 
Financial liabilities:
Deposits other than certificates of deposits$9,811,588 9,811,588 9,811,588 — — 
Certificates of deposit751,436 745,155 — 745,155 — 
Total deposits$10,563,024 10,556,743 9,811,588 745,155 — 
Borrowings1,337,370 1,324,578 — 1,324,578 — 
Subordinated debentures10,493 9,422 — 9,422 — 
Derivative liabilities120,896 120,896 — 120,896 —