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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Fair Value, Assets and Liabilities Measured on Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at September 30, 2021 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Agency notes | ​ | $ | 81,018 | ​ | $ | — | ​ | $ | 81,018 | ​ | $ | —
Treasury securities | ​ | ​ | 247,696 | ​ | ​ | — | ​ | ​ | 247,696 | ​ | ​ | —
Corporate securities | ​ |  | 126,833 | ​ |  | — | ​ |  | 126,833 | ​ |  | —
Pass-through MBS issued by GSEs | ​ |  | 621,957 | ​ |  | — | ​ |  | 621,957 | ​ |  | —
Agency CMOs | ​ |  | 590,426 | ​ |  | — | ​ |  | 590,426 | ​ |  | —
State and municipal obligations | ​ | ​ | 41,133 | ​ | ​ | — | ​ | ​ | 41,133 | ​ | ​ | —
Derivative – cash flow hedges | ​ |  | 2,811 | ​ |  | — | ​ |  | 2,811 | ​ |  | —
Derivative – freestanding derivatives, net | ​ |  | 38,889 | ​ |  | — | ​ |  | 38,889 | ​ |  | —
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative – freestanding derivatives, net | ​ |  | 38,889 | ​ |  | — | ​ |  | 38,889 | ​ |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2020 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Marketable equity securities (Registered mutual funds) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Domestic equity mutual funds | ​ | $ | 1,769 | ​ | $ | 1,769 | ​ | $ | — | ​ | $ | —
International equity mutual funds | ​ |  | 468 | ​ |  | 468 | ​ |  | — | ​ |  | —
Fixed income mutual funds | ​ |  | 3,733 | ​ |  | 3,733 | ​ |  | — | ​ |  | —
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Agency notes | ​ |  | 47,421 | ​ |  | — | ​ |  | 47,421 | ​ |  | —
Corporate securities | ​ |  | 64,461 | ​ |  | — | ​ |  | 64,461 | ​ |  | —
Pass-through MBS issued by GSEs | ​ |  | 143,483 | ​ |  | — | ​ |  | 143,483 | ​ |  | —
Agency CMOs | ​ |  | 283,496 | ​ |  | — | ​ |  | 283,496 | ​ |  | —
Derivative – freestanding derivatives | ​ | ​ | 30,596 | ​ | ​ | — | ​ | ​ | 30,596 | ​ | ​ | —
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivative – cash flow hedges | ​ |  | 18,442 | ​ |  | — | ​ |  | 18,442 | ​ |  | —
Derivative – freestanding derivatives | ​ |  | 30,596 | ​ |  | — | ​ |  | 30,596 | ​ |  | —
Schedule of assets measured at fair value on a non-recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021
​ | ​ | ​ | ​ | ​ | Fair Value Measurements Using:
​ | ​ |  | ​ | Quoted Prices | ​ | ​ | ​ |
​ | ​ | ​ | ​ | In Active | ​ | Significant | ​ |
​ | ​ | ​ | ​ | Markets for | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Carrying | ​ | Assets | ​ | Inputs | ​ | Inputs
(In thousands) |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Individually evaluated loans | ​ | $ | 55,146 | ​ | $ | — | $ | — |  | $ | 55,146
Fair Value Measurements, Nonrecurring | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at September 30, 2021 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 629,011 | ​ | $ | 629,011 | ​ | $ | — | ​ | $ | — | ​ | $ | 629,011
Securities held-to-maturity | ​ | ​ | 40,303 | ​ |  | — | ​ |  | 40,303 | ​ |  | — | ​ |  | 40,303
Loans held for investment, net | ​ |  | 9,148,470 | ​ |  | — | ​ |  | — | ​ |  | 9,212,454 | ​ |  | 9,212,454
Accrued interest receivable | ​ |  | 43,284 | ​ |  | — | ​ |  | 4,228 | ​ |  | 39,056 | ​ |  | 43,284
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts | ​ |  | 9,657,821 | ​ |  | 9,657,821 | ​ |  | — | ​ |  | — | ​ |  | 9,657,821
Certificates of Deposits ("CDs") | ​ |  | 1,016,216 | ​ |  | — | ​ |  | 1,021,029 | ​ |  | — | ​ |  | 1,021,029
FHLBNY advances | ​ |  | 25,000 | ​ |  | — | ​ |  | 25,015 | ​ |  | — | ​ |  | 25,015
Subordinated debt, net | ​ |  | 197,142 | ​ |  | — | ​ |  | 203,355 | ​ |  | — | ​ |  | 203,355
Other short-term borrowings | ​ |  | 2,629 | ​ |  | 2,629 | ​ |  | — | ​ |  | — | ​ |  | 2,629
Accrued interest payable | ​ |  | 1,630 | ​ |  | — | ​ |  | 1,630 | ​ |  | — | ​ |  | 1,630
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2020 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 243,603 | ​ | $ | 243,603 | ​ | $ | — | ​ | $ | — | ​ | $ | 243,603
Loans held for investment, net | ​ |  | 5,580,583 | ​ |  | — | ​ |  | — | ​ |  | 5,598,787 | ​ |  | 5,598,787
Accrued interest receivable | ​ |  | 34,815 | ​ |  | 2 | ​ |  | 1,584 | ​ |  | 33,229 | ​ |  | 34,815
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts | ​ |  | 3,202,484 | ​ |  | 3,202,484 | ​ |  | — | ​ |  | — | ​ |  | 3,202,484
CDs | ​ |  | 1,322,638 | ​ |  | — | ​ |  | 1,328,554 | ​ |  | — | ​ |  | 1,328,554
FHLBNY advances | ​ |  | 1,204,010 | ​ |  | — | ​ |  | 1,207,890 | ​ |  | — | ​ |  | 1,207,890
Subordinated debt, net | ​ |  | 114,052 | ​ |  | — | ​ |  | 114,340 | ​ |  | — | ​ |  | 114,340
Other short-term borrowings | ​ | ​ | 120,000 | ​ | ​ | 120,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 120,000
Accrued interest payable | ​ |  | 1,734 | ​ |  | — | ​ |  | 1,734 | ​ |  | — | ​ |  | 1,734

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + 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/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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