v3.25.4
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Available for Sale Securities
The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2025 are as follows:
December 31, 2025
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale:
Traditional securities:
Government sponsored entities ("GSE") certificates & Collateralized mortgage obligations ("CMOs")$580,446 $5,258 $(18,634)$567,070 
Non-GSE certificates and CMOs
281,787 1,523 (10,078)273,232 
ABS638,635 1,005 (10,472)629,168 
Corporate100,000 117 (4,613)95,504 
Other15,190 37 (152)15,075 
1,616,058 7,940 (43,949)1,580,049 
PACE assessments:
Residential PACE assessments200,003 3,499 — 203,502 
Total available for sale$1,816,061 $11,439 $(43,949)$1,783,551 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
Traditional securities:
GSE certificates & CMOs$184,690 $1,178 $(13,611)$172,257 
Non-GSE certificates & CMOs69,198 1 (3,331)65,868 
ABS156,020 9 (4,167)151,862 
Municipal64,083 229 (7,891)56,421 
Corporate3,000 6 — 3,006 
476,991 1,423 (29,000)449,414 
PACE assessments:
Commercial PACE assessments327,735 — (28,865)298,870 
Residential PACE assessments750,033 — (58,345)691,688 
1,077,768 — (87,210)990,558 
Total held-to-maturity$1,554,759 $1,423 $(116,210)$1,439,972 
Allowance for credit losses(744)
Total held-to-maturity, net of allowance for credit losses$1,554,015 
The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2024 are as follows:            
December 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale:
Traditional securities:
GSE certificates & CMOs$537,313 $2,072 $(31,227)$508,158 
Non-GSE certificates & CMOs229,513 243 (15,581)214,175 
ABS665,548 1,349 (14,563)652,334 
Corporate109,482 — (11,167)98,315 
Other4,197 — (132)4,065 
1,546,053 3,664 (72,670)1,477,047 
PACE assessments:
Residential PACE assessments150,184 1,827 — 152,011 
Total available for sale$1,696,237 $5,491 $(72,670)$1,629,058 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
Traditional securities:
GSE certificates & CMOs$188,194 $707 $(20,679)$168,222 
Non-GSE certificates & CMOs73,850 — (5,993)67,857 
ABS215,161 469 (6,437)209,193 
Municipal65,090 39 (10,837)54,292 
542,295 1,215 (43,946)499,564 
PACE assessments:
Commercial PACE assessments268,692 — (37,731)230,961 
Residential PACE assessments775,922 — (73,727)702,195 
1,044,614 — (111,458)933,156 
Total held-to-maturity$1,586,909 $1,215 $(155,404)$1,432,720 
Allowance for credit losses(704)
Total held-to-maturity, net of allowance for credit losses$1,586,205 
Schedule of Amortized Cost and Fair Value of Held to Maturity Securities
The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2025 are as follows:
December 31, 2025
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale:
Traditional securities:
Government sponsored entities ("GSE") certificates & Collateralized mortgage obligations ("CMOs")$580,446 $5,258 $(18,634)$567,070 
Non-GSE certificates and CMOs
281,787 1,523 (10,078)273,232 
ABS638,635 1,005 (10,472)629,168 
Corporate100,000 117 (4,613)95,504 
Other15,190 37 (152)15,075 
1,616,058 7,940 (43,949)1,580,049 
PACE assessments:
Residential PACE assessments200,003 3,499 — 203,502 
Total available for sale$1,816,061 $11,439 $(43,949)$1,783,551 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
Traditional securities:
GSE certificates & CMOs$184,690 $1,178 $(13,611)$172,257 
Non-GSE certificates & CMOs69,198 1 (3,331)65,868 
ABS156,020 9 (4,167)151,862 
Municipal64,083 229 (7,891)56,421 
Corporate3,000 6 — 3,006 
476,991 1,423 (29,000)449,414 
PACE assessments:
Commercial PACE assessments327,735 — (28,865)298,870 
Residential PACE assessments750,033 — (58,345)691,688 
1,077,768 — (87,210)990,558 
Total held-to-maturity$1,554,759 $1,423 $(116,210)$1,439,972 
Allowance for credit losses(744)
Total held-to-maturity, net of allowance for credit losses$1,554,015 
The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2024 are as follows:            
December 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale:
Traditional securities:
GSE certificates & CMOs$537,313 $2,072 $(31,227)$508,158 
Non-GSE certificates & CMOs229,513 243 (15,581)214,175 
ABS665,548 1,349 (14,563)652,334 
Corporate109,482 — (11,167)98,315 
Other4,197 — (132)4,065 
1,546,053 3,664 (72,670)1,477,047 
PACE assessments:
Residential PACE assessments150,184 1,827 — 152,011 
Total available for sale$1,696,237 $5,491 $(72,670)$1,629,058 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
Traditional securities:
GSE certificates & CMOs$188,194 $707 $(20,679)$168,222 
Non-GSE certificates & CMOs73,850 — (5,993)67,857 
ABS215,161 469 (6,437)209,193 
Municipal65,090 39 (10,837)54,292 
542,295 1,215 (43,946)499,564 
PACE assessments:
Commercial PACE assessments268,692 — (37,731)230,961 
Residential PACE assessments775,922 — (73,727)702,195 
1,044,614 — (111,458)933,156 
Total held-to-maturity$1,586,909 $1,215 $(155,404)$1,432,720 
Allowance for credit losses(704)
Total held-to-maturity, net of allowance for credit losses$1,586,205 
Schedule of Investments by Contractual Maturity
The following table summarizes the amortized cost and fair value of debt securities available for sale and held-to-maturity, exclusive of mortgage-backed securities, by their contractual maturity as of December 31, 2025. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty:
Available for SaleHeld-to-maturity
(In thousands)Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Due within one year$16,275 $16,089 $2,067 $1,907 
Due after one year through five years35,317 34,909 17,120 16,514 
Due after five years through ten years168,986 165,314 107,100 104,021 
Due after ten years733,250 726,937 1,174,584 1,079,405 
$953,828 $943,249 $1,300,871 $1,201,847 
Schedule of Proceeds Received and Gains (Losses) on Sale of Available for Sale Securities
Proceeds received and gains and losses realized on sales of securities are summarized below:
Year Ended December 31,
(In thousands)202520242023
Proceeds$364,841 $394,118 $285,408 
Realized gains$1,223 $4 $61 
Realized losses(4,627)(9,702)(7,453)
               Net realized losses$(3,404)$(9,698)$(7,392)
Tax benefit
$888 $2,609 $2,181 
Schedule of Unrealized Losses
The following summarizes the fair value and unrealized losses for available for sale securities as of December 31, 2025 and December 31, 2024, respectively, segregated between securities that have been in an unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer at the respective dates:
December 31, 2025
Less Than Twelve Months
Twelve Months or Longer
Total
(In thousands)Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Available for sale:
Traditional securities:
GSE certificates & CMOs$57,671 $342 $138,879 $18,292 $196,550 $18,634 
Non-GSE certificates & CMOs5,893 20 118,250 10,058 124,143 10,078 
ABS284,508 1,095 105,027 9,377 389,535 10,472 
Corporate— — 75,386 4,613 75,386 4,613 
Other7,848 152 — — 7,848 152 
Total available for sale$355,920 $1,609 $437,542 $42,340 $793,462 $43,949 
December 31, 2024
Less Than Twelve MonthsTwelve Months or LongerTotal
(In thousands)Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Available for sale:
Traditional securities:
GSE certificates & CMOs$50,828 $881 $249,736 $30,346 $300,564 $31,227 
Non-GSE certificates & CMOs33,778 71 145,329 15,510 179,107 15,581 
ABS121,444 421 151,668 14,142 273,112 14,563 
Corporate— — 98,315 11,167 98,315 11,167 
Other— — 3,865 132 3,865 132 
Total available for sale$206,050 $1,373 $648,913 $71,297 $854,963 $72,670 
Schedule of Allowance For Credit Loss Activity on Held-to-Maturity Securities
The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the years ended December 31, 2024 and December 31, 2025:
(In thousands)Non-GSE commercial certificatesCommercial PACEResidential PACETotal
Allowance for credit losses:
Balance as of January 1, 2023$— $— $— $— 
Adoption of ASU No. 2016-1385 255 328 668 
Provision for (recovery of) credit losses(5)3 81 79 
Charge-offs— — — (26)
Recoveries— — — — 
Balance as of December 31, 2023
$54 $258 $409 $721 
Provision for (recovery of) credit losses(7)10 (22)(19)
Charge-offs— — — — 
Recoveries2 — — 2 
Balance as of December 31, 202449 268 387 704 
Provision for (recovery of) credit losses(8)60 (12)40 
Charge-offs— — — — 
Recoveries— — — — 
Balance as of December 31, 2025$41 $328 $375 $744