XML 69 R50.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of 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, 2025 and 2024, by level within the fair value hierarchy (in thousands):
  Fair Value Measurements at Reporting Date Using:
 December 31, 2025
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:
U.S. Treasury obligations$266,744 266,744 — — 
Government-agency obligations33,539 — 33,539 — 
Mortgage-backed securities2,612,347 — 2,612,347 — 
Asset-backed securities 41,761 — 41,761 — 
State and municipal obligations112,999 — 112,999 — 
Corporate obligations97,366 — 97,366 — 
Total available for sale debt securities$3,164,756 266,744 2,898,012 — 
Equity Securities19,875 19,875 — — 
Derivative assets105,734 — 105,734 — 
$3,290,365 286,619 3,003,746 — 
Derivative liabilities$108,102 — 108,102 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$54,506 — — 54,506 
Foreclosed assets2,015 — — 2,015 
$56,521 — — 56,521 
  Fair Value Measurements at Reporting Date Using:
 December 31, 2024
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:
U.S. Treasury obligations$330,598 330,598 — — 
Government-agency obligations107,235 — 107,235 — 
Mortgage-backed securities2,062,159 — 2,062,159 — 
Asset-backed securities47,563 — 47,563 — 
State and municipal obligations116,917 — 116,917 — 
Corporate obligations104,443 — 104,443 — 
Total available for sale debt securities$2,768,915 330,598 2,438,317 — 
Equity Securities19,110 19,110 — — 
Derivative assets188,940 — 188,940 — 
$2,976,965 349,708 2,627,257 — 
Derivative liabilities$172,601 — 172,601 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$11,023 — — 11,023 
Foreclosed assets9,473 — — 9,473 
$20,496 — — 20,496 
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, 2025 and December 31, 2024. Fair values are presented by level within the fair value hierarchy:
  Fair Value Measurements as of December 31, 2025 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$211,484 211,484 211,484 — — 
Available for sale debt securities:
U.S. Treasury obligations266,744 266,744 266,744 — — 
Government-agency obligations33,539 33,539 — 33,539 — 
Mortgage-backed securities2,612,347 2,612,347 — 2,612,347 — 
Asset-backed securities 41,761 41,761 — 41,761 — 
State and municipal obligations112,999 112,999 — 112,999 — 
Corporate obligations97,366 97,366 — 97,366 — 
Total available for sale debt securities$3,164,756 3,164,756 266,744 2,898,012 — 
Held to maturity debt securities, net of allowance for credit losses:
Government-agency obligations$3,400 3,378 — 3,378 — 
State and municipal obligations276,585 269,711 — 269,711 — 
Corporate obligations2,142 2,129 — 2,129 — 
Total held to maturity debt securities, net of allowance for credit losses$282,127 275,218 — 275,218 — 
FHLBNY and other stock115,687 115,687 115,687 — — 
Equity Securities19,875 19,875 19,875 — — 
Loans, net of allowance for credit losses19,334,004 19,421,891 — — 19,421,891 
Derivative assets105,734 105,734 — 105,734 — 
Financial liabilities:
Deposits other than certificates of deposits$15,991,407 15,991,407 15,991,407 — — 
Certificates of deposit3,287,276 3,288,485 — 3,288,485 — 
Total deposits$19,278,683 19,279,892 15,991,407 3,288,485 — 
Borrowings2,111,955 2,116,467 — 2,116,467 — 
Subordinated Debentures406,582 433,450 — 433,450 — 
Derivative liabilities108,102 108,102 — 108,102 — 
  Fair Value Measurements as of December 31, 2024 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$205,939 205,939 205,939 — — 
Available for sale debt securities:
U.S. Treasury obligations330,598 330,598 330,598 — — 
Government-agency obligations107,235 107,235 — 107,235 — 
Mortgage-backed securities2,062,159 2,062,159 — 2,062,159 — 
Asset-backed securities47,563 47,563 — 47,563 — 
State and municipal obligations116,917 116,917 — 116,917 — 
Corporate obligations104,443 104,443 — 104,443 — 
Total available for sale debt securities$2,768,915 2,768,915 330,598 2,438,317 — 
Held to maturity debt securities:
Government-agency obligations9,999 9,707 — 9,707 — 
State and municipal obligations311,106 297,674 — 297,674 — 
Corporate obligations6,518 6,352 — 6,352 — 
Total held to maturity debt securities, net of allowance for credit losses$327,623 313,733 — 313,733 — 
FHLBNY stock112,767 112,767 112,767 — — 
Equity Securities19,110 19,110 19,110 — — 
Loans, net of allowance for credit losses18,628,391 18,442,167 — — 18,442,167 
Derivative assets188,940 188,940 — 188,940 — 
Financial liabilities:
Deposits other than certificates of deposits$15,455,658 15,455,658 15,455,658 — — 
Certificates of deposit3,168,155 3,168,216 — 3,168,216 — 
Total deposits$18,623,813 18,623,874 15,455,658 3,168,216 — 
Borrowings2,020,435 2,017,013 — 2,017,013 — 
Subordinated Debentures401,608 423,675 — 423,675 — 
Derivative liabilities172,601 172,601 — 172,601 —