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Loans Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2026

Receivables [Abstract]

Schedule of Loans Receivable, Net

Loans receivable, net at June 30, 2026 and December 31, 2025 consisted of the following (in thousands):

			June 30,						December 31,
			2026						2025
Commercial:
Commercial real estate – investor			$	9,125,313					$	5,420,989
Commercial and industrial:
Commercial and industrial – real estate			1,800,501						986,431
Commercial and industrial – non-real estate			1,907,719						1,227,556
Total commercial and industrial			3,708,220						2,213,987
Total commercial			12,833,533						7,634,976
Consumer:
Residential real estate			3,245,311						3,194,264
Other consumer			196,908						202,763
Total consumer			3,442,219						3,397,027
Total loans receivable			16,275,752						11,032,003
Deferred origination costs, net of fees			20,496						22,389
Allowance for loan credit losses			(209,716)						(83,726)
Total loans receivable, net			$	16,086,532					$	10,970,666

Schedule of Total Loans by Year of Origination, Internally Assigned Credit Grades, Risk Characteristics and Gross Charge-Offs

The following tables summarize total loans (in thousands) by year of origination, internally assigned credit grades, and risk characteristics. The tables also include gross charge-offs that were recorded for the year to date periods presented, by year of origination (in thousands):

						2026						2025						2024						2023						2022						2021 and prior						Revolving lines of credit												Total
As of June 30, 2026
Commercial real estate - investor
Pass						$	446,641					$	905,946					$	331,635					$	499,793					$	1,551,649					$	4,297,144					$	778,091											$	8,810,899
Special Mention						—						9,630						—						—						3,948						56,288						2,934												72,800
Substandard						—						—						—						1,618						24,905						209,719						5,372												241,614
Total commercial real estate - investor						446,641						915,576						331,635						501,411						1,580,502						4,563,151						786,397												9,125,313
Gross charge-offs						(351)						—						(85)						(411)						(119)						(84)						—												(1,050)
Commercial and industrial:
Commercial and industrial - real estate
Pass						191,430						298,000						86,198						106,205						215,867						754,794						41,385												1,693,879
Special Mention						273						2,646						8,823						—						—						332						—												12,074
Substandard						—						17,975						33,360						—						—						43,132						81												94,548
Total commercial and industrial - real estate						191,703						318,621						128,381						106,205						215,867						798,258						41,466												1,800,501
Gross charge-offs						—						—						—						—						—						—						—												—
Commercial and industrial - non-real estate
Pass						267,865						385,265						207,236						79,583						68,357						86,685						735,542												1,830,533
Special Mention						175						9,510						7,643						14,620						869						1,541						12,779												47,137
Substandard						—						4,358						481						—						1,179						1,732						22,299												30,049
Total commercial and industrial - non-real estate						268,040						399,133						215,360						94,203						70,405						89,958						770,620												1,907,719
Gross charge-offs						—						(178)						(893)						—						—						(73)						—												(1,144)
Total commercial and industrial						459,743						717,754						343,741						200,408						286,272						888,216						812,086												3,708,220
Residential real estate (1)
Pass						13,407						466,545						228,453						270,909						509,877						1,748,890						—												3,238,081
Special Mention						—						1,220						896						833						116						1,567						—												4,632
Substandard						—						179						—						333						—						2,086						—												2,598
Total residential real estate						13,407						467,944						229,349						272,075						509,993						1,752,543						—												3,245,311
Gross charge-offs						—						(47)						(107)						(3)						(28)						(198)						—												(383)
Other consumer (1)
Pass						—						29,063						22,536						20,739						12,185						110,346						136												195,005
Special Mention						—						—						—						—						—						62						—												62
Substandard						—						—						—						85						—						1,756						—												1,841
Total other consumer						—						29,063						22,536						20,824						12,185						112,164						136												196,908
Gross charge-offs						—						—						(29)						—						(5)						(121)						—												(155)
Total loans						$	919,791					$	2,130,337					$	927,261					$	994,718					$	2,388,952					$	7,316,074					$	1,598,619											$	16,275,752
Total gross charge-offs						$	(351)					$	(225)					$	(1,114)					$	(414)					$	(152)					$	(476)					$	—											$	(2,732)

(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.

						2025						2024						2023						2022						2021						2020 and prior						Revolving lines of credit						Total
As of December 31, 2025
Commercial real estate - investor
Pass						$	647,529					$	65,950					$	166,397					$	1,161,291					$	1,299,618					$	1,427,844					$	579,022					$	5,347,651
Special Mention						66						—						—						2,932						—						8,735						725						12,458
Substandard						—						85						—						20,788						298						33,969						5,740						60,880
Total commercial real estate - investor						647,595						66,035						166,397						1,185,011						1,299,916						1,470,548						585,487						5,420,989
Gross charge-offs						(102)						(310)						(1,938)						(649)						(24)						(511)						—						(3,534)
Commercial and industrial:
Commercial and industrial - real estate
Pass						255,690						74,284						58,970						90,142						59,476						403,738						31,844						974,144
Special Mention						—						250						—						—						—						731						—						981
Substandard						—						—						—						—						—						11,306						—						11,306
Total commercial and industrial - real estate						255,690						74,534						58,970						90,142						59,476						415,775						31,844						986,431
Gross charge-offs						—						—						—						—						—						—						—						—
Commercial and industrial - non-real estate
Pass						325,180						181,538						40,761						30,417						8,314						35,057						589,300						1,210,567
Special Mention						39						224						—						—						—						—						690						953
Substandard						—						528						553						776						649						1,774						11,756						16,036
Total commercial and industrial - non-real estate						325,219						182,290						41,314						31,193						8,963						36,831						601,746						1,227,556
Gross charge-offs						—						(815)						—						(20)						—						—						—						(835)
Total commercial and industrial						580,909						256,824						100,284						121,335						68,439						452,606						633,590						2,213,987
Residential real estate (1)
Pass						471,828						225,885						209,979						501,308						743,610						1,034,301						—						3,186,911
Special Mention						218						121						345						265						1,432						1,298						—						3,679
Substandard						207						1,590						396						93						445						943						—						3,674
Total residential real estate						472,253						227,596						210,720						501,666						745,487						1,036,542						—						3,194,264
Gross charge-offs						(37)						(218)						(106)						(319)						(345)						(426)						—						(1,451)
Other consumer (1)
Pass						27,971						24,292						23,141						13,697						15,086						93,425						3,242						200,854
Special Mention						—						—						—						—						8						82						—						90
Substandard						—						190						181						67						—						1,381						—						1,819
Total other consumer						27,971						24,482						23,322						13,764						15,094						94,888						3,242						202,763
Gross charge-offs						—						—						—						(48)						—						(385)						—						(433)
Total loans						$	1,728,728					$	574,937					$	500,723					$	1,821,776					$	2,128,936					$	3,054,584					$	1,222,319					$	11,032,003
Total gross charge-offs						$	(139)					$	(1,343)					$	(2,044)					$	(1,036)					$	(369)					$	(1,322)					$	—					$	(6,253)

(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.

Schedule of Analysis of Allowance for Credit Losses on Loans

An analysis of the allowance for credit losses on loans for the three and six months ended June 30, 2026 and 2025 was as follows (in thousands):

												Commercial and Industrial
						Commercial Real Estate – Investor						Commercial and Industrial - Real Estate						Commercial and  Industrial - Non-Real Estate						Residential Real Estate						Other Consumer												Total
For the three months ended June 30, 2026
Allowance for credit losses on loans
Balance at beginning of period						$	29,014					$	7,293					$	23,663					$	25,140					$	1,000											$	86,110
Provision (benefit) for credit losses						3,458						(1,709)						974						1,123						(57)												3,789
Initial allowance for credit losses on acquired loans from Flushing (1)						85,748						15,796						18,606						966						215												121,331
Charge-offs						(966)						—						(342)						(354)						(114)												(1,776)
Recoveries						100						17						117						2						26												262
Balance at end of period						$	117,354					$	21,397					$	43,018					$	26,877					$	1,070											$	209,716
For the three months ended June 30, 2025
Allowance for credit losses on loans
Balance at beginning of period						$	33,947					$	4,102					$	12,837					$	26,810					$	1,102											$	78,798
Provision (benefit) for credit losses						690						(179)						1,951						108						116												2,686
Charge-offs						(1,791)						—						—						(370)						(254)												(2,415)
Recoveries						80						11						34						22						50												197
Balance at end of period						$	32,926					$	3,934					$	14,822					$	26,570					$	1,014											$	79,266
For the six months ended June 30, 2026
Allowance for credit losses on loans
Balance at beginning of period						$	29,944					$	4,753					$	23,376					$	24,680					$	973											$	83,726
Provision (benefit) for credit losses						2,604						828						1,924						1,591						(73)												6,874
Initial allowance for credit losses on acquired loans from Flushing (1)						85,748						15,796						18,606						966						215												121,331
Charge-offs						(1,050)						—						(1,144)						(383)						(155)												(2,732)
Recoveries						108						20						256						23						110												517
Balance at end of period						$	117,354					$	21,397					$	43,018					$	26,877					$	1,070											$	209,716
For the six months ended June 30, 2025
Allowance for credit losses on loans
Balance at beginning of period						$	30,780					$	3,817					$	10,471					$	27,587					$	952											$	73,607
Provision (benefit) for credit losses						3,837						103						4,315						51						207												8,513
Charge-offs						(1,846)						—						—						(1,092)						(275)												(3,213)
Recoveries						155						14						36						24						130												359
Balance at end of period						$	32,926					$	3,934					$	14,822					$	26,570					$	1,014											$	79,266

(1)The allowance for credit losses for the three and six months ended June 30, 2026 reflects the initial allowance recorded on purchased seasoned loans and purchased credit deteriorated loans acquired in the Flushing merger, in accordance with ASU 2025-08.

Schedule of Recorded Investment in Non-Accrual Loans, by Loan Portfolio Segment

The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of June 30, 2026 and December 31, 2025 (in thousands):

			June 30,						December 31,
			2026						2025
Commercial real estate – investor			$	76,721					$	13,636
Commercial and industrial:
Commercial and industrial - real estate			16,980						4,813
Commercial and industrial - non-real estate			5,045						640
Total commercial and industrial			22,025						5,453
Residential real estate			7,043						6,200
Other consumer			2,452						2,502
Total non-performing loans			$	108,241					$	27,791

Schedule of Aging of Recorded Investment in Past Due Loans by Loan Portfolio Segment

The following table presents the aging of the recorded investment in past due loans as of June 30, 2026 and December 31, 2025 by loan portfolio segment (in thousands):

			30-59 Days Past Due						60-89 Days Past Due						90 Days or Greater Past Due						Total Past Due						Loans Not Past Due						Total
June 30, 2026
Commercial real estate – investor			$	12,168					$	22,563					$	52,162					$	86,893					$	9,038,420					$	9,125,313
Commercial and industrial:
Commercial and industrial - real estate			806						650						15,661						17,117						1,783,384						1,800,501
Commercial and industrial - non-real estate			1,741						2,655						3,374						7,770						1,899,949						1,907,719
Total commercial and industrial			2,547						3,305						19,035						24,887						3,683,333						3,708,220
Residential real estate			1,002						4,465						2,598						8,065						3,237,246						3,245,311
Other consumer			1,013						34						1,842						2,889						194,019						196,908
Total loans			$	16,730					$	30,367					$	75,637					$	122,734					$	16,153,018					$	16,275,752
December 31, 2025
Commercial real estate – investor			$	25,516					$	974					$	12,333					$	38,823					$	5,382,166					$	5,420,989
Commercial and industrial:
Commercial and industrial - real estate			587						—						4,281						4,868						981,563						986,431
Commercial and industrial - non-real estate			1,220						235						578						2,033						1,225,523						1,227,556
Total commercial and industrial			1,807						235						4,859						6,901						2,207,086						2,213,987
Residential real estate			14,517						3,672						3,673						21,862						3,172,402						3,194,264
Other consumer			1,027						60						1,819						2,906						199,857						202,763
Total loans			$	42,867					$	4,941					$	22,684					$	70,492					$	10,961,511					$	11,032,003

Schedule of Modified and Troubled Debt Restructuring Loans

The following table presents loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2026 and 2025 (in thousands):

												Interest Rate Reduction						Combination of Term Extension and Interest Rate Reduction																		Total						% of Total by Loan Portfolio Segment
For the three months ended June 30, 2026
Commercial real estate – investor												$	1,695					$	—																	$	1,695					0.02		%
												$	1,695					$	—																	$	1,695					0.01		%
For the six months ended June 30, 2026
Commercial real estate – investor												$	1,695					$	—																	$	1,695					0.02		%
Residential real estate												—						102																		102						—
												$	1,695					$	102																	$	1,797					0.01		%

						Term Extension																		Combination of Term Extension and Other Than Insignificant Payment Delay												Total						% of Total by Loan Portfolio Segment
For the three months ended June 30, 2025
Commercial real estate – investor						$	—																	$	4,449											$	4,449					0.09		%
						$	—																	$	4,449											$	4,449					0.04		%
For the six months ended June 30, 2025
Commercial real estate – investor						$	5,067																	$	4,449											$	9,516					0.19		%
						$	5,067																	$	4,449											$	9,516					0.09		%

The following table provides the performance of loans modified to borrowers experiencing financial difficulty during the twelve months ended June 30, 2026 and 2025 (in thousands):

						Current												90 Days or Greater past due						Total
June 30, 2026
Commercial real estate – investor						$	1,695											$	949		(1)			$	2,644
Residential real estate						102												—						102
						$	1,797											$	949					$	2,746
June 30, 2025
Commercial real estate – investor						$	16,805											$	—					$	16,805
						$	16,805											$	—					$	16,805

(1) Represents one commercial real estate - investor loan that defaulted during the three months ended June 30, 2026, which had been modified within the last 12 months.

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