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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2023 |  | 2022 |  | 2021
Current expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 24,469 | ​ | $ | 39,492 | ​ | $ | 23,759
State and city | ​ |  | 15,681 | ​ |  | 17,205 | ​ |  | 11,815
Total current expense | ​ | ​ | 40,150 | ​ | ​ | 56,697 | ​ | ​ | 35,574
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 1,393 | ​ | ​ | 840 | ​ | ​ | 5,490
State and city | ​ | ​ | (758) | ​ | ​ | 1,822 | ​ | ​ | 3,106
Total deferred expense | ​ | ​ | 635 | ​ | ​ | 2,662 | ​ | ​ | 8,596
Total | ​ | $ | 40,785 | ​ | $ | 59,359 | ​ | $ | 44,170
Schedule of reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(Dollars in thousands) |  | 2023 |  | 2022 |  | 2021 |
Tax at federal statutory rate | ​ | $ | 28,745 | ​ | $ | 44,502 | ​ | $ | 31,115 | ​
State and local taxes, net of federal income tax benefit | ​ |  | 12,237 | ​ |  | 13,699 | ​ |  | 11,601 | ​
Benefit plan differences | ​ |  | (127) | ​ |  | (127) | ​ |  | (107) | ​
Investment in BOLI | ​ |  | (2,047) | ​ |  | (2,173) | ​ |  | (1,485) | ​
Equity based compensation | ​ |  | 79 | ​ |  | (141) | ​ |  | (301) | ​
Salaries deduction limitation | ​ |  | 2,381 | ​ |  | 2,054 | ​ |  | 3,419 | ​
Transaction costs | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 181 | ​
Other, net | ​ |  | (483) | ​ |  | 1,545 | ​ |  | (253) | ​
Total | ​ | $ | 40,785 | ​ | $ | 59,359 | ​ | $ | 44,170 | ​
Effective tax rate | ​ |  | 29.80 | % |  | 28.01 | % |  | 29.81 | %
Schedule of components of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(In thousands) |  | 2023 |  | 2022
Deferred tax assets: | ​ | ​ | ​ |  | ​ |
Allowance for credit losses and other contingent liabilities | ​ | $ | 26,926 | ​ | $ | 28,175
Tax effect of other components of income on securities available-for-sale | ​ | ​ | 34,745 | ​ | ​ | 38,140
Tax effect of other components of income on securities held-to-maturity | ​ | ​ | 7,216 | ​ | ​ | 8,138
Operating lease liability | ​ |  | 19,229 | ​ |  | 19,256
Other | ​ |  | 2,603 | ​ |  | 2,074
Total deferred tax assets | ​ |  | 90,719 | ​ |  | 95,783
Deferred tax liabilities: | ​ |  |  | ​ |  |
Tax effect of other components of income on derivatives | ​ | ​ | 2,368 | ​ | ​ | 5,394
Employee benefit plans | ​ | ​ | 1,707 | ​ | ​ | 976
Tax effect of purchase accounting fair value adjustments | ​ | ​ | 1,329 | ​ | ​ | 2,352
Difference in book and tax carrying value of fixed assets | ​ |  | 2,230 | ​ |  | 4,261
Difference in book and tax basis of unearned loan fees | ​ |  | 3,239 | ​ |  | 2,431
Operating lease asset | ​ |  | 18,266 | ​ |  | 18,414
States taxes | ​ | ​ | 2,166 | ​ | ​ | 2,801
Other | ​ |  | 241 | ​ |  | 1,002
Total deferred tax liabilities | ​ |  | 31,546 | ​ |  | 37,631
Net deferred tax asset (recorded in other assets) | ​ | $ | 59,173 | ​ | $ | 58,152

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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