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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2025

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value, assets and liabilities measured on recurring basis

Fair Value Measurements

at June 30, 2025 Using

Level 1

Level 2

Level 3

(In thousands)

Total

Inputs

Inputs

Inputs

Financial Assets:

Securities available-for-sale:

Agency notes

$

9,764

$

—

$

9,764

$

—

Corporate securities

171,092

—

171,092

—

Pass-through MBS issued by GSEs

287,665

—

287,665

—

Agency CMOs

212,666

—

212,666

—

State and municipal obligations

22,274

—

22,274

—

Derivative – cash flow hedges

5,277

—

5,277

—

Derivative – freestanding derivatives, net

85,689

—

85,689

—

Financial Liabilities:

Derivative – fair value hedges

151

—

151

—

Derivative – cash flow hedges

255

—

255

—

Derivative – freestanding derivatives, net

85,689

—

85,689

—

Derivative – risk participations

15

—

15

—


					Fair Value Measurements
					at December 31, 2024 Using
					Level 1			Level 2			Level 3
(In thousands)		Total			Inputs			Inputs			Inputs
Financial Assets:
Securities available-for-sale:
Agency Notes		$	9,607		$	—		$	9,607		$	—
Corporate securities			163,949			—			163,949			—
Pass-through MBS issued by GSEs			300,221			—			300,221			—
Agency CMOs			191,888			—			191,888			—
State and municipal obligations			25,028			—			25,028			—
Derivative – cash flow hedges			8,318			—			8,318			—
Derivative – freestanding derivatives, net			108,178			—			108,178			—
Financial Liabilities:
Derivative – cash flow hedges			159			—			159			—
Derivative – freestanding derivatives, net			108,178			—			108,178			—
Derivative – risk participations			10			—			10			—

Schedule of assets measured at fair value on a non-recurring basis

June 30, 2025

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

$

2,330

$

—

$

—

$

2,330

December 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

$

7,584

$

—

$

—

$

7,584

Schedule of fair value measurements, nonrecurring

Fair Value Measurements

at June 30, 2025 Using

Carrying

Level 1

Level 2

Level 3

(In thousands)

Amount

Inputs

Inputs

Inputs

Total

Financial Assets:

Cash and due from banks

$

1,156,754

$

1,156,754

$

—

$

—

$

1,156,754

Securities held-to-maturity

625,188

—

556,507

—

556,507

Loans held for sale

13,617

—

—

13,617

13,617

Loans held for investment, net

10,775,353

—

—

10,481,731

10,481,731

Accrued interest receivable

55,418

—

6,803

48,615

55,418

Financial Liabilities:

Savings, money market and checking accounts ⁽¹⁾

10,660,002

10,660,002

—

—

10,660,002

Certificates of deposit ("CDs")

1,080,093

—

1,076,490

—

1,076,490

FHLBNY advances

508,000

—

510,864

—

510,864

Subordinated debt, net

272,414

—

253,563

—

253,563

Accrued interest payable

7,876

—

7,876

—

7,876

⁽¹⁾ Includes mortgage escrow deposits.


					Fair Value Measurements
					at December 31, 2024 Using
		Carrying			Level 1			Level 2			Level 3
(In thousands)		Amount			Inputs			Inputs			Inputs			Total
Financial Assets:
Cash and due from banks		$	1,283,571		$	1,283,571		$	—		$	—		$	1,283,571
Securities held-to-maturity			637,339			—			552,277			—			552,277
Loans held for sale			22,625			—			—			22,625			22,625
Loans held for investment, net			10,775,608			—			—			10,354,366			10,354,366
Accrued interest receivable			55,970			—			6,676			49,294			55,970
Financial Liabilities:
Savings, money market and checking accounts⁽¹⁾			10,617,060			10,617,060			—			—			10,617,060
CDs			1,069,081			—			1,066,630			—			1,066,630
FHLBNY advances			608,000			—			608,908			—			608,908
Subordinated debt, net			272,325			—			257,464			—			257,464
Other short-term borrowings			50,000			50,000			—			—			50,000
Accrued interest payable			8,586			—			8,586			—			8,586

⁽¹⁾ Includes mortgage escrow deposits.