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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Schedule of fair value, assets and liabilities measured on recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at March 31, 2024 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Agency notes | ​ | $ | 9,409 | ​ | $ | — | ​ | $ | 9,409 | ​ | $ | —
Treasury securities | ​ | ​ | 228,171 | ​ | ​ | — | ​ | ​ | 228,171 | ​ | ​ | —
Corporate securities | ​ |  | 150,245 | ​ |  | — | ​ |  | 150,245 | ​ |  | —
Pass-through MBS issued by GSEs | ​ |  | 195,876 | ​ |  | — | ​ |  | 195,876 | ​ |  | —
Agency CMOs | ​ |  | 249,840 | ​ |  | — | ​ |  | 249,840 | ​ |  | —
State and municipal obligations | ​ | ​ | 25,675 | ​ | ​ | — | ​ | ​ | 25,675 | ​ | ​ | —
Derivative – cash flow hedges | ​ |  | 13,107 | ​ |  | — | ​ |  | 13,107 | ​ |  | —
Derivative – freestanding derivatives, net | ​ |  | 122,055 | ​ |  | — | ​ |  | 122,055 | ​ |  | —
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative – fair value hedges | ​ | ​ | 1,353 | ​ | ​ | — | ​ | ​ | 1,353 | ​ | ​ | —
Derivative – cash flow hedges | ​ | ​ | 1,067 | ​ | ​ | — | ​ | ​ | 1,067 | ​ | ​ | —
Derivative – freestanding derivatives, net | ​ |  | 122,055 | ​ |  | — | ​ |  | 122,055 | ​ |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2023 Using
​ | ​ | ​ | ​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
(In thousands) |  | Total |  | Inputs |  | Inputs |  | Inputs
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Agency Notes | ​ | $ | 9,371 | ​ | $ | — | ​ | $ | 9,371 | ​ | $ | ​
Treasury securities | ​ | ​ | 234,190 | ​ | ​ | — | ​ | ​ | 234,190 | ​ | ​ | —
Corporate securities | ​ | ​ | 151,170 | ​ |  | — | ​ |  | 151,170 | ​ | ​ | —
Pass-through MBS issued by GSEs | ​ |  | 205,285 | ​ |  | — | ​ |  | 205,285 | ​ |  | —
Agency CMOs | ​ |  | 259,415 | ​ |  | — | ​ |  | 259,415 | ​ |  | —
State and municipal obligations | ​ |  | 26,809 | ​ | ​ | — | ​ | ​ | 26,809 | ​ |  | —
Derivative – cash flow hedges | ​ |  | 7,461 | ​ |  | — | ​ |  | 7,461 | ​ |  | —
Derivative – freestanding derivatives, net | ​ |  | 114,671 | ​ |  | — | ​ |  | 114,671 | ​ |  | —
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative – fair value hedge | ​ | ​ | 6,594 | ​ | ​ | — | ​ | ​ | 6,594 | ​ | ​ | —
Derivative – freestanding derivatives, net | ​ |  | 114,671 | ​ |  | — | ​ |  | 114,671 | ​ |  | —
Schedule of assets measured at fair value on a non-recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ | ​ | ​ | ​ | ​ | 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 | ​ | $ | 854 | ​ | $ | — | ​ | $ | — |  | $ | 854
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 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 | ​ | $ | 6,336 |  | $ | — | ​ | $ | — |  | $ | 6,336
Schedule of fair value measurements, nonrecurring | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at March 31, 2024 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 370,852 | ​ | $ | 370,852 | ​ | $ | — | ​ | $ | — | ​ | $ | 370,852
Securities held-to-maturity | ​ | ​ | 589,331 | ​ |  | — | ​ |  | 504,718 | ​ |  | — | ​ |  | 504,718
Loans held for investment, net | ​ |  | 10,687,661 | ​ |  | — | ​ |  | — | ​ |  | 10,158,385 | ​ |  | 10,158,385
Accrued interest receivable | ​ |  | 55,369 | ​ |  | — | ​ |  | 5,798 | ​ |  | 49,571 | ​ |  | 55,369
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts (1) | ​ |  | 9,343,720 | ​ |  | 9,343,720 | ​ |  | — | ​ |  | — | ​ |  | 9,343,720
Certificates of Deposits ("CDs") | ​ |  | 1,555,157 | ​ |  | — | ​ |  | 1,550,668 | ​ |  | — | ​ |  | 1,550,668
FHLBNY advances | ​ |  | 773,000 | ​ |  | — | ​ |  | 772,467 | ​ |  | — | ​ |  | 772,467
Subordinated debt, net | ​ |  | 200,174 | ​ |  | — | ​ |  | 157,374 | ​ |  | — | ​ |  | 157,374
Accrued interest payable | ​ |  | 20,121 | ​ |  | — | ​ |  | 20,121 | ​ |  | — | ​ |  | 20,121
(1) Includes mortgage escrow deposits. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | at December 31, 2023 Using
​ | ​ | Carrying | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | ​ | ​
(In thousands) |  | Amount |  | Inputs |  | Inputs |  | Inputs |  | Total
Financial Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 457,547 | ​ | $ | 457,547 | ​ | $ | — | ​ | $ | — | ​ | $ | 457,547
Securities held-to-maturity | ​ | ​ | 594,639 | ​ |  | — | ​ |  | 516,930 | ​ |  | — | ​ |  | 516,930
Loans held for investment, net | ​ |  | 10,695,349 | ​ |  | — | ​ |  | — | ​ |  | 10,305,026 | ​ |  | 10,305,026
Accrued interest receivable | ​ |  | 55,666 | ​ |  | — | ​ |  | 6,593 | ​ |  | 49,073 | ​ |  | 55,666
Financial Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Savings, money market and checking accounts (1) | ​ |  | 8,922,972 | ​ |  | 8,922,972 | ​ |  | — | ​ |  | — | ​ |  | 8,922,972
CDs | ​ |  | 1,607,683 | ​ |  | — | ​ |  | 1,602,087 | ​ |  | — | ​ |  | 1,602,087
FHLBNY advances | ​ |  | 1,313,000 | ​ |  | — | ​ |  | 1,312,940 | ​ |  | — | ​ |  | 1,312,940
Subordinated debt, net | ​ |  | 200,196 | ​ |  | — | ​ |  | 160,696 | ​ |  | — | ​ |  | 160,696
Accrued interest payable | ​ |  | 17,298 | ​ |  | — | ​ |  | 17,298 | ​ |  | — | ​ |  | 17,298

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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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