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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Measurements |
Tables of Financial Instruments Measured At Fair Value on Recurring Basis | The tables below present the financial instruments measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023 in the consolidated statements of financial condition utilizing the hierarchy structure described above: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 73,188 | ​ | $ | — | ​ | $ | — | ​ | $ | 73,188
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 197,060 | ​ | ​ | — | ​ | ​ | 197,060
Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ |  | — | ​ |  | 418,129 | ​ |  | — | ​ |  | 418,129
Municipal securities | ​ | ​ | — | ​ | ​ | 80 | ​ | ​ | — | ​ | ​ | 80
Corporate debt | ​ | ​ | — | ​ |  | 1,888 | ​ |  | — | ​ |  | 1,888
Loans held for sale | ​ |  | — | ​ |  | 18,787 | ​ |  | — | ​ |  | 18,787
Interest rate swap derivatives | ​ |  | — | ​ |  | 42,660 | ​ |  | — | ​ |  | 42,660
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 506 | ​ | ​ | 506
Total assets at fair value | ​ | $ | 73,188 | ​ | $ | 678,604 | ​ | $ | 506 | ​ | $ | 752,298
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 11,402 | ​ | $ | — | ​ | $ | 11,402
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 36 | ​ | ​ | 36
Total liabilities at fair value | ​ | $ | — | ​ | $ | 11,402 | ​ | $ | 36 | ​ | $ | 11,438
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 73,044 | ​ | $ | — | ​ | $ | — | ​ | $ | 73,044
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 201,809 | ​ | ​ | — | ​ | ​ | 201,809
Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ |  | — | ​ |  | 351,242 | ​ |  | — | ​ |  | 351,242
Municipal securities | ​ | ​ | — | ​ | ​ | 79 | ​ | ​ | — | ​ | ​ | 79
Corporate debt | ​ | ​ | — | ​ |  | 1,843 | ​ |  | — | ​ | ​ | 1,843
Loans held for sale | ​ |  | — | ​ |  | 18,854 | ​ |  | — | ​ |  | 18,854
Interest rate swap derivatives | ​ |  | — | ​ |  | 37,408 | ​ |  | — | ​ |  | 37,408
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 287 | ​ | ​ | 287
Total assets at fair value | ​ | $ | 73,044 | ​ | $ | 611,235 | ​ | $ | 287 | ​ | $ | 684,566
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 15,284 | ​ | $ | — | ​ | $ | 15,284
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115 | ​ | ​ | 115
Total liabilities at fair value | ​ | $ | — | ​ | $ | 15,284 | ​ | $ | 115 | ​ | $ | 15,399
​
Table of Changes in Level 3 Financial Instruments | The table below details the changes in level 3 financial instruments during the six months ended June 30, 2024: ​
​ | ​ | ​ | ​
​ |  | ​ | Mortgage banking
​ | ​ | ​ | derivatives, net
Balance at December 31, 2023 | ​ | $ | 172
Gain included in earnings, net | ​ | ​ | 396
Fees and costs included in earnings, net | ​ |  | (98)
Balance at June 30, 2024 | ​ | $ | 470
​
Table of Assets Recorded at Fair Value On a Non-Recurring Basis | The tables below provide information regarding losses from assets recorded at fair value on a non-recurring basis during the six months ended June 30, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 46,406 | ​ | $ | 4,883
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 55,569 | ​ | $ | 679
Other real estate owned |  | ​ | 3,458 | ​ | ​ | 13
Total | ​ | $ | 59,027 | ​ | $ | 692
​

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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