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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2023
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Schedule of fair value, assets and liabilities measured on recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at September 30, 2023 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Agency notes | ​ | $ | 9,143 | ​ | $ | — | ​ | $ | 9,143 | ​ | $ | —
Treasury securities | ​ | ​ | 229,873 | ​ | ​ | — | ​ | ​ | 229,873 | ​ | ​ | —
Corporate securities | ​ |  | 141,087 | ​ |  | — | ​ |  | 141,087 | ​ |  | —
Pass-through MBS issued by GSEs | ​ |  | 206,203 | ​ |  | — | ​ |  | 206,203 | ​ |  | —
Agency CMOs | ​ |  | 255,642 | ​ |  | — | ​ |  | 255,642 | ​ |  | —
State and municipal obligations | ​ | ​ | 27,931 | ​ | ​ | — | ​ | ​ | 27,931 | ​ | ​ | —
Derivative – cash flow hedges | ​ |  | 16,657 | ​ |  | — | ​ |  | 16,657 | ​ |  | —
Derivative – freestanding derivatives, net | ​ |  | 160,712 | ​ |  | — | ​ |  | 160,712 | ​ |  | —
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative – freestanding derivatives, net | ​ |  | 160,712 | ​ |  | — | ​ |  | 160,712 | ​ |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2022 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Treasury securities | ​ | $ | 227,256 | ​ | $ | — | ​ | $ | 227,256 | ​ | $ | —
Corporate securities | ​ | ​ | 166,773 | ​ |  | — | ​ |  | 166,773 | ​ | ​ | —
Pass-through MBS issued by GSEs | ​ |  | 241,240 | ​ |  | — | ​ |  | 241,240 | ​ |  | —
Agency CMOs | ​ |  | 281,339 | ​ |  | — | ​ |  | 281,339 | ​ |  | —
State and municipal obligations | ​ |  | 33,979 | ​ | ​ | — | ​ | ​ | 33,979 | ​ |  | —
Derivative – cash flow hedges | ​ |  | 17,150 | ​ |  | — | ​ |  | 17,150 | ​ |  | —
Derivative – freestanding derivatives, net | ​ |  | 137,335 | ​ |  | — | ​ |  | 137,335 | ​ |  | —
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative – freestanding derivatives, net | ​ |  | 137,335 | ​ |  | — | ​ |  | 137,335 | ​ |  | —
Schedule of assets measured at fair value on a non-recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 352 | ​ | $ | — | ​ | $ | — |  | $ | 352
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 1,179 |  | $ | — | ​ | $ | — |  | $ | 1,179
Schedule of fair value measurements, nonrecurring | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at September 30, 2023 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 358,824 | ​ | $ | 358,824 | ​ | $ | — | ​ | $ | — | ​ | $ | 358,824
Securities held-to-maturity | ​ | ​ | 600,291 | ​ |  | — | ​ |  | 495,986 | ​ |  | — | ​ |  | 495,986
Loans held for investment, net | ​ |  | 10,777,696 | ​ |  | — | ​ |  | — | ​ |  | 10,255,764 | ​ |  | 10,255,764
Accrued interest receivable | ​ |  | 53,608 | ​ |  | — | ​ |  | 5,525 | ​ |  | 48,083 | ​ |  | 53,608
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts (1) | ​ |  | 9,194,247 | ​ |  | 9,194,247 | ​ |  | — | ​ |  | — | ​ |  | 9,194,247
Certificates of Deposits ("CDs") | ​ |  | 1,442,299 | ​ |  | — | ​ |  | 1,433,548 | ​ |  | — | ​ |  | 1,433,548
FHLBNY advances | ​ |  | 1,123,000 | ​ |  | — | ​ |  | 1,119,564 | ​ |  | — | ​ |  | 1,119,564
Subordinated debt, net | ​ |  | 200,218 | ​ |  | — | ​ |  | 162,218 | ​ |  | — | ​ |  | 162,218
Accrued interest payable | ​ |  | 19,948 | ​ |  | — | ​ |  | 19,948 | ​ |  | — | ​ |  | 19,948
(1) Includes mortgage escrow deposits. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2022 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 169,297 | ​ | $ | 169,297 | ​ | $ | — | ​ | $ | — | ​ | $ | 169,297
Securities held-to-maturity | ​ | ​ | 585,798 | ​ |  | — | ​ |  | 505,759 | ​ |  | — | ​ |  | 505,759
Loans held for investment, net | ​ |  | 10,482,145 | ​ |  | — | ​ |  | — | ​ |  | 10,005,121 | ​ |  | 10,005,121
Accrued interest receivable | ​ |  | 48,561 | ​ |  | — | ​ |  | 6,105 | ​ |  | 42,456 | ​ |  | 48,561
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts (1) | ​ |  | 9,139,043 | ​ |  | 9,139,043 | ​ |  | — | ​ |  | — | ​ |  | 9,139,043
Certificates of Deposits ("CDs") | ​ |  | 1,115,364 | ​ |  | — | ​ |  | 1,096,808 | ​ |  | — | ​ |  | 1,096,808
FHLBNY advances | ​ |  | 1,131,000 | ​ |  | — | ​ |  | 1,131,217 | ​ |  | — | ​ |  | 1,131,217
Subordinated debt, net | ​ |  | 200,283 | ​ |  | — | ​ |  | 180,583 | ​ |  | — | ​ |  | 180,583
Other short-term borrowings | ​ | ​ | 1,360 | ​ | ​ | 1,360 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,360
Accrued interest payable | ​ |  | 5,323 | ​ |  | — | ​ |  | 5,323 | ​ |  | — | ​ |  | 5,323

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + 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 -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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