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DERIVATIVES AND HEDGING (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | As of December 31, 2024 and 2023, the notional values or contractual amounts and fair values of the Company’s derivatives were as follows (in thousands):
| Asset Derivatives |  | Liability Derivatives
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2024 |  | December 31, 2023
| Notional/ Contract Amount |  | Fair Value |  | Notional/ Contract Amount |  | Fair Value |  | Notional/ Contract Amount |  | Fair Value |  | Notional/ Contract Amount |  | Fair Value
Hedged interest rate swaps | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 400,000 |  |  | $ | 15,141 |
Interest rate swaps not designated in hedge relationships | $ | 386,995 |  |  | $ | 30,134 |  |  | $ | 416,711 |  |  | $ | 29,058 |  |  | $ | 386,995 |  |  | $ | 30,184 |  |  | $ | 416,711 |  |  | $ | 29,126 |
Master netting agreements |  |  | (15,627) |  |  |  |  | (13,929) |  |  |  |  | — |  |  |  |  | (13,929) |
Cash offset/(settlement) |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (529) |
Net interest rate swaps |  |  | 14,507 |  |  |  |  | 15,129 |  |  |  |  | 30,184 |  |  |  |  | 29,809 |
Risk participation agreements | 817 |  |  | — |  |  | 1,050 |  |  | — |  |  | 43,097 |  |  | 6 |  |  | 45,298 |  |  | 42 |
Mortgage loan commitments | 30,085 |  |  | 108 |  |  | 19,572 |  |  | 275 |  |  | 5,427 |  |  | 2 |  |  | — |  |  | — |
Forward sales contracts | 49,628 |  |  | 223 |  |  | 5,406 |  |  | — |  |  | — |  |  | — |  |  | 17,966 |  |  | 185 |
Total | $ | 467,525 |  |  | $ | 14,838 |  |  | $ | 442,739 |  |  | $ | 15,404 |  |  | $ | 435,519 |  |  | $ | 30,192 |  |  | $ | 479,975 |  |  | $ | 30,036 |
The Company’s asset derivatives are included in other assets, while the liability derivatives are included in accrued expenses and other liabilities on the Consolidated Statements of Financial Condition.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following table presents the effect of cash flow hedge accounting on AOCI for the years ended December 31, 2024 and 2023 (in thousands):
| For the Year Ended December 31, 2024
| Amount of Gain or (Loss) Recognized in AOCI on Derivative |  | Amount of Gain or (Loss) Recognized in AOCI Included Component |  | Amount of Gain or (Loss) Recognized in AOCI Excluded Component |  | Location of Gain or (Loss) Recognized from AOCI into Income |  | Amount of Gain or (Loss) Reclassified from AOCI into Income |  | Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component |  | Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest rate swaps | $ | (2,145) |  |  | $ | (2,145) |  |  | $ | — |  |  | Interest Income |  | $ | (16,074) |  |  | $ | (16,074) |  |  | $ | — |
| For the Year Ended December 31, 2023
| Amount of Gain or (Loss) Recognized in AOCI on Derivative |  | Amount of Gain or (Loss) Recognized in AOCI Included Component |  | Amount of Gain or (Loss) Recognized in AOCI Excluded Component |  | Location of Gain or (Loss) Recognized from AOCI into Income |  | Amount of Gain or (Loss) Reclassified from AOCI into Income |  | Amount of Gain or (Loss) Reclassified from AOCI into Income Included Component |  | Amount of Gain or (Loss) Reclassified from AOCI into Income Excluded Component
Interest rate swaps | $ | (4,398) |  |  | $ | (4,398) |  |  | $ | — |  |  | Interest Income |  | $ | (16,955) |  |  | $ | (16,955) |  |  | $ | — |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | Gains (losses) recognized in income within mortgage banking operations on non-designated hedging instruments for the years ended December 31, 2024, 2023 and 2022, were as follows (in thousands):
|  |  | For the Years Ended December 31
|  |  | 2024 |  | 2023 |  | 2022
Mortgage loan commitments |  |  | $ | (79) |  |  | $ | 263 |  |  | $ | (1,427) |
Forward sales contracts |  |  | 320 |  |  | 313 |  |  | 84 |
|  |  | $ | 241 |  |  | $ | 576 |  |  | $ | (1,343) |
Offsetting Assets | The following presents additional information related to the Company’s interest rate swaps, both designated and non-designated as hedged, as of December 31, 2024 and 2023 (in thousands):
| December 31, 2024
|  |  |  |  |  |  | Gross Amounts of Financial Instruments Not Offset in the Consolidated Statement of Financial Condition |  |
| Gross Amounts Recognized |  | Amounts offset in the Statement of Financial Condition |  | Net Amounts in the Statement of Financial Condition |  | Netting Adjustment Per Applicable Master Netting Agreements |  | Fair Value of Financial Collateral in the Statement of Financial Condition |  | Net Amount
Derivative assets |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 30,134 |  |  | $ | (15,627) |  |  | $ | 14,507 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,507 |
| $ | 30,134 |  |  | $ | (15,627) |  |  | $ | 14,507 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,507 |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 30,184 |  |  | $ | — |  |  | $ | 30,184 |  |  | $ | — |  |  | $ | (18,228) |  |  | $ | 11,956 |
| $ | 30,184 |  |  | $ | — |  |  | $ | 30,184 |  |  | $ | — |  |  | $ | (18,228) |  |  | $ | 11,956 |
| December 31, 2023
|  |  |  |  |  |  | Gross Amounts of Financial Instruments Not Offset in the Consolidated Statement of Financial Condition |  |
| Gross Amounts Recognized |  | Amounts offset in the Statement of Financial Condition |  | Net Amounts in the Statement of Financial Condition |  | Netting Adjustment Per Applicable Master Netting Agreements |  | Fair Value of Financial Collateral in the Statement of Financial Condition |  | Net Amount
Derivative assets |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 29,058 |  |  | $ | (13,929) |  |  | $ | 15,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,129 |
| $ | 29,058 |  |  | $ | (13,929) |  |  | $ | 15,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,129 |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 44,267 |  |  | $ | (14,458) |  |  | $ | 29,809 |  |  | $ | — |  |  | $ | (13,124) |  |  | $ | 16,685 |
| $ | 44,267 |  |  | $ | (14,458) |  |  | $ | 29,809 |  |  | $ | — |  |  | $ | (13,124) |  |  | $ | 16,685 |

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