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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31, 2025 and December 31, 2024 in the consolidated statements of financial condition utilizing the hierarchy structure described above: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2025
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 73,263 | ​ | $ | — | ​ | $ | — | ​ | $ | 73,263
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 204,245 | ​ | ​ | — | ​ | ​ | 204,245
Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 354,169 | ​ | ​ | — | ​ | ​ | 354,169
Corporate debt | ​ | ​ | — | ​ | ​ | 1,973 | ​ | ​ | — | ​ | ​ | 1,973
Loans held for sale | ​ | ​ | — | ​ | ​ | 11,885 | ​ | ​ | — | ​ | ​ | 11,885
Interest rate swap derivatives | ​ | ​ | — | ​ | ​ | 33,711 | ​ | ​ | — | ​ | ​ | 33,711
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 684 | ​ | ​ | 684
Total assets at fair value | ​ | $ | 73,263 | ​ | $ | 605,983 | ​ | $ | 684 | ​ | $ | 679,930
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 10,888 | ​ | $ | — | ​ | $ | 10,888
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 85 | ​ | ​ | 85
Total liabilities at fair value | ​ | $ | — | ​ | $ | 10,888 | ​ | $ | 85 | ​ | $ | 10,973
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 24,874 | ​ | $ | — | ​ | $ | — | ​ | $ | 24,874
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 135,045 | ​ | ​ | — | ​ | ​ | 135,045
Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 364,938 | ​ | ​ | — | ​ | ​ | 364,938
Corporate debt | ​ | ​ | — | ​ | ​ | 1,962 | ​ | ​ | — | ​ | ​ | 1,962
Loans held for sale | ​ | ​ | — | ​ | ​ | 24,495 | ​ | ​ | — | ​ | ​ | 24,495
Interest rate swap derivatives | ​ | ​ | — | ​ | ​ | 39,637 | ​ | ​ | — | ​ | ​ | 39,637
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 386 | ​ | ​ | 386
Total assets at fair value | ​ | $ | 24,874 | ​ | $ | 566,077 | ​ | $ | 386 | ​ | $ | 591,337
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 9,076 | ​ | $ | — | ​ | $ | 9,076
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10 | ​ | ​ | 10
Total liabilities at fair value | ​ | $ | — | ​ | $ | 9,076 | ​ | $ | 10 | ​ | $ | 9,086
​
Table of Changes in Level 3 Financial Instruments | The table below details the changes in level 3 financial instruments during the three months ended March 31, 2025: ​
​ | ​ | ​ | ​
​ | ​ | Mortgage banking
​ | ​ | derivatives, net
Balance at December 31, 2024 | ​ | $ | 376
Gain included in earnings, net | ​ | ​ | 356
Fees and (costs) included in earnings, net | ​ | ​ | (133)
Balance at March 31, 2025 | ​ | $ | 599
​
Table of Assets Recorded at Fair Value On a Non-Recurring Basis | The tables below provide information regarding losses from the assets recorded at fair value on a non-recurring basis during the three months ended March 31, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2025
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 52,522 | ​ | $ | 15,036
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 47,470 | ​ | $ | 278
​

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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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