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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Estimated Fair Value of the Assets Acquired and the Liabilities Assumed as Date of Acquisition | The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Flushing, net of total consideration paid (in thousands):
| At June 1, 2026
| Flushing Book Value |  | Purchase Accounting Adjustments |  | Estimated Fair Value
Total Purchase Price: |  |  |  |  | $ | 538,351 |
Assets acquired: |  |  |  |  |
Cash and cash equivalents | $ | 308,470 |  |  | $ | — |  |  | $ | 308,470 |
Securities | 1,560,808 |  |  | (332) |  |  | 1,560,476 |
Loans receivable, net of allowance for loans credit losses | 5,221,067 |  |  | (229,810) |  |  | 4,991,257 |
Loans held-for-sale | 1,309,849 |  |  | (108,063) |  |  | 1,201,786 |
Core deposit intangible | 647 |  |  | 84,353 |  |  | 85,000 |
Other assets | 457,057 |  |  | 82,513 |  |  | 539,570 |
Total assets acquired | 8,857,898 |  |  | (171,339) |  |  | 8,686,559 |
Liabilities assumed: |  |  |  |  |
Deposits | 7,436,454 |  |  | 7,497 |  |  | 7,443,951 |
FHLB advances and other borrowings | 406,241 |  |  | (6,106) |  |  | 400,135 |
Other liabilities | 316,879 |  |  | (401) |  |  | 316,478 |
Total liabilities assumed | 8,159,574 |  |  | 990 |  |  | 8,160,564 |
Net assets acquired | $ | 698,324 |  |  | $ | (172,329) |  |  | $ | 525,995 |
Goodwill recorded in the merger |  |  |  |  | $ | 12,356 |
Schedule of Activity of Purchased Credit Deteriorated and Purchased Seasoned Loans | The following table presents the PCD and PSL activity on loans held for investment (in thousands):
| June 1, 2026
| PSL |  | PCD
Par value of loans at acquisition | $ | 4,416,746 |  |  | $ | 812,205 |
Initial allowance for credit losses on acquired loans | (60,881) |  |  | (60,450) |
Non-credit discount on acquired loans | (60,897) |  |  | (55,466) |
Fair value of acquired loans | $ | 4,294,968 |  |  | $ | 696,289 |
Schedule of Business Acquisition, Pro Forma Information | The following table presents financial information regarding the former Flushing operations included in the Consolidated Statements of Income from the date of the acquisition (June 1, 2026) through June 30, 2026. In addition, the table provides unaudited condensed pro forma financial information assuming the Merger had been completed as of January 1, 2025 for the six months ended June 30, 2025. The table below has been prepared for comparative purposes only and is not necessarily indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. The unaudited pro forma information does not reflect management’s estimates of any revenue-enhancing opportunities or anticipated cost savings that may be realized as a result of the integration and consolidation of Flushing’s operations. The pro forma information presented gives effect to estimated purchase accounting fair value adjustments, merger-related expenses of $46.9 million (which had an estimated tax-adjusted earnings per share impact of $0.37) assumed to have been incurred in 2025 and therefore excluded from 2026 results, the removal of Flushing’s 2025 goodwill impairment charge, and related income tax effects, including the application of the combined entity’s effective tax rate. Average diluted shares outstanding include shares issued in connection with the Flushing acquisition, as well as common stock and NVCE Stock issued to Warburg Pincus.
(in thousands) | Flushing Actual from June 1, 2026 to June 30, 2026 |  | Pro Forma For the Six Months Ended June 30, 2026 |  | Pro Forma For the Six Months Ended June 30, 2025 |
Net interest income | $ | 19,068 |  |  | $ | 316,979 |  |  | $ | 287,326 |  |
Credit loss expense | (109) |  |  | 8,751 |  |  | 16,891 |  |
Non-interest income | 1,350 |  |  | 22,810 |  |  | 38,337 |  |
Non-interest expense | 14,813 |  |  | 257,942 |  |  | 275,657 |  |
Income before income taxes | 5,714 |  |  | 73,096 |  |  | 33,115 |  |
Provision for income taxes | 1,607 |  |  | 20,467 |  |  | 9,272 |  |
Net income | $ | 4,107 |  |  | $ | 52,629 |  |  | $ | 23,843 |  |
Net income available to common stockholders | $ | 4,107 |  |  | $ | 52,629 |  |  | $ | 20,000 |  |
Average diluted shares outstanding |  |  | 97,712 |  |  | 98,555 |  |
Fully diluted earnings per share |  |  | $ | 0.54 |  |  | $ | 0.20 |  |

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