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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments, by Balance Sheet Grouping

The following table presents estimated fair values of the Company’s financial instruments as of December 31, 2024 and 2023, whether or not recognized or recorded in the Consolidated Statements of Financial Condition (in thousands):

									December 31, 2024												December 31, 2023
			Level						Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value
Assets:
Cash and cash equivalents			1						$	501,858					$	501,858					$	254,464					$	254,464
Securities—available-for-sale			2						2,078,826						2,078,826						2,348,479						2,348,479
Securities—available-for-sale			3						25,685						25,685						25,304						25,304
Securities—held-to-maturity			2						995,237						819,230						1,052,028						900,522
Securities—held-to-maturity			3						6,327						6,298						7,027						6,992
Loans held for sale			2						32,021						32,215						11,170						11,219
Loans receivable, net			3						11,199,135						10,894,024						10,660,812						10,250,271
Equity securities			1						481						481						449						449
FHLB stock			3						22,451						22,451						24,028						24,028
Bank-owned life insurance			1						312,549						312,549						304,366						304,366
Mortgage servicing rights			3						12,618						37,926						13,909						35,794
SBA servicing rights			3						869						869						740						740
Investments in limited partnerships			3						13,955						13,955						13,475						13,475
Derivatives:
Interest rate swaps			2						14,507						14,507						15,129						15,129
Interest rate lock and forward sales commitments			2,3						331						331						275						275
Liabilities:
Demand, interest checking and money market accounts			2						8,536,303						8,536,303						8,571,500						8,571,500
Regular savings			2						3,478,423						3,478,423						2,980,530						2,980,530
Certificates of deposit			2						1,499,672						1,492,829						1,477,467						1,465,612
FHLB advances			2						290,000						290,000						323,000						323,000
Other borrowings			2						125,257						125,257						182,877						182,877
Subordinated notes, net			2						80,278						78,832						92,851						85,536
Junior subordinated debentures			3						67,477						67,477						66,413						66,413
Derivatives:
Interest rate swaps			2						30,184						30,184						29,809						29,809
Interest rate lock and forward sales commitments			2,3						2						2						185						185
Risk participation agreement			2						6						6						42						42

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of December 31, 2024 and 2023 (in thousands):

			December 31, 2024
			Level 1						Level 2						Level 3						Total
Assets:
Securities—available-for-sale
U.S. Government and agency obligations			$	—					$	7,933					$	—					$	7,933
Municipal bonds			—						123,982						—						123,982
Corporate bonds			—						99,305						25,685						124,990
Mortgage-backed or related securities			—						1,676,848						—						1,676,848
Asset-backed securities			—						170,758						—						170,758
			—						2,078,826						25,685						2,104,511
Loans held for sale (1)			—						26,185						—						26,185
Equity securities			481						—						—						481
SBA servicing rights			—						—						869						869
Investment in limited partnerships			—						—						13,955						13,955
Derivatives
Interest rate swaps			—						14,507						—						14,507
Interest rate lock and forward sales commitments			—						221						110						331
			$	481					$	2,119,739					$	40,619					$	2,160,839
Liabilities:
Junior subordinated debentures			$	—					$	—					$	67,477					$	67,477
Derivatives
Interest rate swaps			—						30,184						—						30,184
Interest rate lock and forward sales commitments			—						—						2						2
Risk participation agreement			—						6						—						6
			$	—					$	30,190					$	67,479					$	97,669

			December 31, 2023
			Level 1						Level 2						Level 3						Total
Assets:
Securities—available-for-sale
U.S. Government and agency obligations			—						34,189						—						34,189
Municipal bonds			—						132,905						—						132,905
Corporate bonds			—						93,819						25,304						119,123
Mortgage-backed or related securities			—						1,866,714						—						1,866,714
Asset-backed securities			—						220,852						—						220,852
			—						2,348,479						25,304						2,373,783
Loans held for sale(1)			—						9,105						—						9,105
Equity securities			449						—						—						449
SBA servicing rights			—						—						740						740
Investment in limited partnerships			—						—						13,475						13,475
Derivatives
Interest rate swaps			—						15,129						—						15,129
Interest rate lock and forward sales commitments			—						—						275						275
			$	449					$	2,372,713					$	39,794					$	2,412,956
Liabilities
Junior subordinated debentures			$	—					$	—					$	66,413					$	66,413
Derivatives
Interest rate swaps			—						29,809						—						29,809
Interest rate lock and forward sales commitments			—						161						24						185
Risk participation agreement			—						42						—						42
			$	—					$	30,012					$	66,437					$	96,449

(1)    The unpaid principal balance of one- to four family residential loans held for sale carried at fair value on a recurring basis was $25.7 million and $8.8 million at December 31, 2024 and 2023, respectively.

Schedule of Valuation Technique, Unobservable Input, and Qualitative Information for Unobservable Inputs

The following table provides a description of the valuation technique, unobservable inputs and quantitative and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a recurring and non-recurring basis at December 31, 2024 and 2023:

																		Weighted Average Rate or Range
																		December 31
Financial Instruments						Valuation Technique						Unobservable Inputs						2024						2023
Corporate bonds (TPS)						Discounted cash flows						Discount rate						9.57		%				10.84		%
Junior subordinated debentures						Discounted cash flows						Discount rate						9.57		%				10.84		%
Loans individually evaluated						Collateral valuations						Discount to appraised value						0% to 75%						8.75% to 25%
Interest rate lock commitments						Pricing model						Pull-through rate						92.34		%				88.24		%
SBA servicing rights						Discounted cash flows						Constant prepayment rate						18.85		%				16.92		%

Schedule of Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the years ended December 31, 2024 and 2023 (in thousands):

			Level 3 Fair Value Inputs
			TPS Securities						Borrowings— Junior Subordinated Debentures						Interest Rate Lock and Forward Sales Commitments						Investments in Limited Partnerships						SBA Servicing Asset
Balance, January 1, 2023			$	28,694					$	74,857					$	39					$	12,427					$	835
Net change recognized in earnings			(3,375)						—						212						(719)						(95)
Net change recognized in AOCI			(15)						(8,444)						—						—						—
Purchases, issuances and settlements			—						—						—						1,767						—
Balance, December 31, 2023			25,304						66,413						251						13,475						740
Net change recognized in earnings			115						—						(143)						(1,013)						129
Net change recognized in AOCI			266						1,064						—						—						—
Purchases, issuances and settlements			—						—						—						1,493						—
Balance, December 31, 2024			$	25,685					$	67,477					$	108					$	13,955					$	869

Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following tables present financial assets and liabilities measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets at December 31, 2024 and 2023 (in thousands):

			December 31, 2024
			Level 1						Level 2						Level 3						Total
Loans individually evaluated			$	—					$	—					$	6,590					$	6,590
REO			—						—						2,367						2,367
			December 31, 2023
			Level 1						Level 2						Level 3						Total
Loans individually evaluated			$	—					$	—					$	8,308					$	8,308
REO			—						—						526						526

fair value, measured on nonrecurring basis, Losses from fair value adjustments

The following table presents the gains and losses resulting from non-recurring fair value adjustments for the years ended December 31, 2024, 2023 and 2022 (in thousands):

			For the years ended December 31,
			2024						2023						2022
Loans individually evaluated			$	(1,483)					$	(933)					$	(626)
Loans held for sale (1)			—						2,538						(2,538)
Total loss from non-recurring measurements			$	(1,483)					$	1,605					$	(3,164)

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