v3.25.2
Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Changes in the Allowance for Loan and Lease Losses
The following tables present the changes in the allowance for loan and lease losses in loans and leases by portfolio segment for the periods indicated:
 Three Months Ended June 30, 2025
 Commercial
Real Estate		CommercialConsumerTotal
 (In Thousands)
Balance at March 31, 2025$73,999 $43,356 $6,790 $124,145 
Charge-offs(3,524)(2,067)(10)(5,601)
Recoveries— 427 47 474 
Provision (credit) for loan and lease losses excluding unfunded commitments2,640 4,753 314 7,707 
Balance at June 30, 2025$73,115 $46,469 $7,141 $126,725 
 Three Months Ended June 30, 2024
 Commercial
Real Estate		CommercialConsumerTotal
 (In Thousands)
Balance at March 31, 2024$83,475 $30,417 $6,232 $120,124 
Charge-offs(3,819)(4,998)(6)(8,823)
Recoveries— 427 9 436 
Provision (credit) for loan and lease losses excluding unfunded commitments2,496 7,540 (23)10,013 
Balance at June 30, 2024$82,152 $33,386 $6,212 $121,750 
 Six Months Ended June 30, 2025
 Commercial
Real Estate		CommercialConsumerTotal
 (In Thousands)
Balance at December 31, 2024$74,171 $44,169 $6,743 $125,083 
Charge-offs(3,524)(11,136)(14)(14,674)
Recoveries— 1,849 101 1,950 
Provision (credit) for loan and lease losses excluding unfunded commitments2,468 11,587 311 14,366 
Balance at June 30, 2025$73,115 $46,469 $7,141 $126,725 
 Six Months Ended June 30, 2024
 Commercial
Real Estate		CommercialConsumerTotal
 (In Thousands)
Balance at December 31, 2023$81,410 $29,557 $6,555 $117,522 
Charge-offs(4,425)(9,769)(19)(14,213)
Recoveries— 719 26 745 
Provision (credit) for loan and lease losses excluding unfunded commitments5,167 12,879 (350)17,696 
Balance at June 30, 2024$82,152 $33,386 $6,212 $121,750 
Schedule of Provisions for Credit Losses
The provision (credit) for credit losses are set forth below for the periods indicated:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
 (In Thousands)
Provision (credit) for loan and lease losses:  
Commercial real estate$2,640 $2,496 $2,468 $5,167 
Commercial4,753 7,540 11,587 12,879 
Consumer314 (23)311 (350)
Total provision (credit) for loan and lease losses7,707 10,013 14,366 17,696 
Unfunded commitments(710)(4,406)(1,395)(4,666)
Investment securities available-for-sale3 (39)15 (83)
Total provision (credit) for credit losses$7,000 $5,568 $12,986 $12,947 
Schedule of the Recorded Investments by Credit Quality Indicator, by Loan Class
The following table presents the amortized cost basis of loans in each class by credit quality indicator and year of origination as of June 30, 2025.
June 30, 2025
20252024202320222021PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Commercial Real Estate     
Pass$87,050 $173,139 $295,852 $728,866 $704,182 $1,683,058 $28,249 $16,516 $3,716,912 
OAEM— — — 21,743 21,950 22,785 — 2,253 68,731 
Substandard— 22,503 3,397 38,786 7,323 56,020 — — 128,029 
Total87,050 195,642 299,249 789,395 733,455 1,761,863 28,249 18,769 3,913,672 
Current-period gross writeoffs— — — — — 1,467 — — 1,467 
Multi-Family Mortgage
Pass10,889 13,240 103,875 299,679 254,876 640,381 6,744 37,929 1,367,613 
OAEM— — — 10,969 — — — — 10,969 
Substandard— — — 2,863 11,433 8,384 — — 22,680 
Total10,889 13,240 103,875 313,511 266,309 648,765 6,744 37,929 1,401,262 
June 30, 2025
20252024202320222021PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Current-period gross writeoffs2,057 2,057 
Construction
Pass6,688 49,992 63,485 2,351 18,757 3,114 3,475 — 147,862 
OAEM— — — 22,750 — — — — 22,750 
Total6,688 49,992 63,485 25,101 18,757 3,114 3,475 — 170,612 
Commercial
Pass78,811 174,096 244,218 124,451 105,483 104,780 440,246 5,705 1,277,790 
OAEM— — 63 — 62 164 5,391 — 5,680 
Substandard— 441 991 6,840 409 1,099 10,065 181 20,026 
Doubtful— — 4 — — 2 — 14 20 
Total78,811 174,537 245,276 131,291 105,954 106,045 455,702 5,900 1,303,516 
Current-period gross writeoffs— — — — — 7,155 — — 7,155 
Equipment Financing
Pass99,989 270,549 306,697 240,160 117,649 125,904 1,475 4,651 1,167,074 
OAEM— — — 1,289 759 — — — 2,048 
Substandard— 2,350 15,508 6,216 3,112 4,692 — 11,530 43,408 
Doubtful— — — 4,283 — 18 — — 4,301 
Total99,989 272,899 322,205 251,948 121,520 130,614 1,475 16,181 1,216,831 
Current-period gross writeoffs— 461 1,012 1,233 345 931 — — 3,982 
Other Consumer
Pass460 251 125 52 6 2,057 60,529 18 63,498 
Total460 251 125 52 6 2,057 60,529 18 63,498 
Current-period gross writeoffs6 — 1 — — 6 — — 13 
Total
Pass283,887 681,267 1,014,252 1,395,559 1,200,953 2,559,294 540,718 64,819 7,740,749 
OAEM— — 63 56,751 22,771 22,949 5,391 2,253 110,178 
Substandard— 25,294 19,896 54,705 22,277 70,195 10,065 11,711 214,143 
Doubtful— — 4 4,283 — 20 — 14 4,321 
Total$283,887 $706,561 $1,034,215 $1,511,298 $1,246,001 $2,652,458 $556,174 $78,797 $8,069,391 
As of June 30, 2025, there were no loans categorized as definite loss.
For residential mortgage and home equity loans, the borrowers' credit scores at origination contribute as a reserve metric in the retail loss rate model.
At June 30, 2025
20252024202320222021PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Residential  
Credit Scores  
Over 700$50,709 $111,352 $70,641 $150,896 $188,390 $388,170 $4,900 $92 $965,150 
661 - 7003,009 4,460 5,036 12,545 10,307 25,836 — 8 61,201 
600 and below115 2,055 4,530 8,785 8,767 30,612 — — 54,864 
Data not available*
9,712 354 1,522 1,649 2,254 18,798 — — 34,289 
Total$63,545 $118,221 $81,729 $173,875 $209,718 $463,416 $4,900 $100 $1,115,504 
Home Equity
Credit Scores  
Over 700$1,682 $1,572 $4,144 $3,254 $931 $6,380 $323,307 $2,897 $344,167 
661 - 70056 26 35 144 37 406 26,466 1,415 28,585 
600 and below— 92 676 67 400 405 18,260 2,246 22,146 
Data not available*
2 — 15 — — 36 2,528 — 2,581 
Total$1,740 $1,690 $4,870 $3,465 $1,368 $7,227 $370,561 $6,558 $397,479 
_______________________________________________________________________________
* Primarily represents loans made to trusts and purchased mortgages.

The following tables present the recorded investment in loans in each class as of December 31, 2024, by credit quality indicator.
December 31, 2024
20242023202220212020PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Commercial Real Estate      
Pass$147,877 $395,770 $677,054 $740,805 $368,755 $1,493,198 $45,933 $16,620 $3,886,012 
OAEM22,505 — 21,923 3,611 3,210 41,704 — 411 93,364 
Substandard— — 3,653 5,416 — 38,820 — — 47,889 
Total170,382 395,770 702,630 749,832 371,965 1,573,722 45,933 17,031 4,027,265 
Current -period gross writeoffs— — 552 — — 3,874 — — 4,426 
Multi-Family Mortgage
Pass16,197 67,890 244,419 243,977 153,294 572,534 5,937 38,001 1,342,249 
OAEM— — 11,606 — — 3,855 — — 15,461 
Substandard— — 2,863 11,477 — 15,746 — — 30,086 
December 31, 2024
20242023202220212020PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Total16,197 67,890 258,888 255,454 153,294 592,135 5,937 38,001 1,387,796 
Construction
Pass50,569 24,642 169,636 37,832 1,649 221 8,754 — 293,303 
OAEM— — 7,750 — — — — — 7,750 
Total50,569 24,642 177,386 37,832 1,649 221 8,754 — 301,053 
Commercial
Pass171,978 256,267 138,946 108,892 35,090 87,430 383,725 6,962 1,189,290 
OAEM— — — 48 — 284 1,711 — 2,043 
Substandard— 4 — 392 1,197 12,001 6,091 365 20,050 
Doubtful— — — — — 2 — 329 331 
Total171,978 256,271 138,946 109,332 36,287 99,717 391,527 7,656 1,211,714 
Current-period gross writeoffs13 4 3,612 100 1,523 1,596 — — 6,848 
Equipment Financing
Pass287,280 359,803 289,487 147,244 83,664 85,286 425 5,881 1,259,070 
OAEM— — 1,572 930 — — — — 2,502 
Substandard— 7,681 3,455 2,918 725 2,771 — 11,530 29,080 
Doubtful— — 4,283 — — 15 — — 4,298 
Total287,280 367,484 298,797 151,092 84,389 88,072 425 17,411 1,294,950 
Current-period gross writeoffs840 2,801 4,740 1,430 5,219 4,166 — — 19,196 
Other Consumer
Pass373 176 84 873 — 2,057 60,789 15 64,367 
Total373 176 84 873 — 2,057 60,789 15 64,367 
Current-period gross writeoffs7 — 3 — 1 12 — — 23 
Total
Pass674,274 1,104,548 1,519,626 1,279,623 642,452 2,240,726 505,563 67,479 8,034,291 
OAEM22,505 — 42,851 4,589 3,210 45,843 1,711 411 121,120 
Substandard— 7,685 9,971 20,203 1,922 69,338 6,091 11,895 127,105 
Doubtful— — 4,283 — — 17 — 329 4,629 
Total$696,779 $1,112,233 $1,576,731 $1,304,415 $647,584 $2,355,924 $513,365 $80,114 $8,287,145 
As of December 31, 2024, there were no loans categorized as definite loss.
At December 31, 2024
20242023202220212020PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
 (In Thousands)
Residential  
Credit Scores  
Over 700$119,843 $75,397 $167,352 $204,738 $110,663$341,746 $7,936 $— $1,027,675 
661 - 7006,444 7,330 7,7346,915 4,62212,583 — — 45,628 
600 and below2,040 1,111 7,7114,976 5,01613,024 — — 33,878 
Data not available*
31 537 1,349 881 —4,753 — — 7,551 
Total$128,358 $84,375 $184,146 $217,510 $120,301$372,106 $7,936 $— $1,114,732 
Home Equity
Credit Scores
Over 700$1,696 $4,686 $3,492$1,402 $529$7,003 $316,187 $5,446 $340,441 
661 - 700166 400 2138 —326 18,700 505 20,156 
600 and below— 405 132— 18373 12,121 1,195 14,244 
Data not available*
— — — — — 4 2,566 — 2,570 
Total$1,862 $5,491 $3,645$1,440 $547$7,706 $349,574 $7,146 $377,411 
Current-period gross writeoffs$— $— 16$— $— $— $— $— 16 
_______________________________________________________________________________
* Primarily represents loans made to trusts and purchased mortgages.
Schedule of Information Regarding the Aging of Past Due Loans, by Loan Class
The following table presents an age analysis of the amortized cost basis in loans and leases as of June 30, 2025.
 At June 30, 2025
 Past Due  Past
Due Greater
Than 90 Days
and Accruing		 
 31-60
Days		61-90
Days		Greater
Than
90 Days		TotalCurrentTotal Loans
and Leases		Non-accrual
Non-accrual
with No Related Allowance
 (In Thousands)
Commercial real estate loans:
Commercial real estate$2,296 $653 $2,187 $5,136 $3,908,536 $3,913,672 $1,854 $987 $841 
Multi-family mortgage— — 15,736 15,736 1,385,526 1,401,262 14,296 1,433 1,439 
Construction— — 7,750 7,750 162,862 170,612 7,750 — — 
Total commercial real estate loans2,296 653 25,673 28,622 5,456,924 5,485,546 23,900 2,420 2,280 
Commercial loans and leases:
Commercial466 418 9,231 10,115 1,293,401 1,303,516 831 8,687 837 
Equipment financing6,883 6,913 38,369 52,165 1,164,666 1,216,831 165 46,067 2,672 
Total commercial loans and leases7,349 7,331 47,600 62,280 2,458,067 2,520,347 996 54,754 3,509 
Consumer loans:
Residential mortgage1,222 — 1,643 2,865 1,112,639 1,115,504 — 3,572 2,233 
Home equity1,200 65 764 2,029 395,450 397,479 3 1,561 680 
Other consumer3 1 1 5 63,493 63,498 — 1 — 
Total consumer loans2,425 66 2,408 4,899 1,571,582 1,576,481 3 5,134 2,913 
Total loans and leases$12,070 $8,050 $75,681 $95,801 $9,486,573 $9,582,374 $24,899 $62,308 $8,702 
The Company did not recognize any interest income on nonaccrual loans for the three and six months ended June 30, 2025.

The following tables present an age analysis of the recorded investment in originated and acquired loans and leases as of December 31, 2024.
 At December 31, 2024
 Past Due  Loans and
Leases Past
Due Greater
Than 90 Days
and Accruing		 Non-accrual
with No Related Allowance
 31-60
Days		61-90
Days		Greater
Than
90 Days		TotalCurrentTotal Loans
and Leases		Non-accrual
 (In Thousands)
Commercial real estate loans:
Commercial real estate$6,570 $1,685 $12,153 $20,408 $4,006,857 $4,027,265 $629 $11,525 $683 
Multi-family mortgage2,863 — 6,469 9,332 1,378,464 1,387,796 — 6,596 6,605 
Construction— — — — 301,053 301,053 — — — 
Total commercial real estate loans9,433 1,685 18,622 29,740 5,686,374 5,716,114 629 18,121 7,288 
Commercial loans and leases:
Commercial783 1,693 695 3,171 1,208,543 1,211,714 — 14,676 326 
Equipment financing6,140 2,508 27,070 35,718 1,259,232 1,294,950 — 31,509 2,180 
Total commercial loans and leases6,923 4,201 27,765 38,889 2,467,775 2,506,664 — 46,185 2,506 
Consumer loans:
Residential mortgage2,015 — 2,057 4,072 1,110,660 1,114,732 130 3,999 2,359 
Home equity818 233 135 1,186 376,225 377,411 52 1,043 — 
Other consumer4 — 1 5 64,362 64,367 — 1 — 
Total consumer loans2,837 233 2,193 5,263 1,551,247 1,556,510 182 5,043 2,359 
Total loans and leases$19,193 $6,119 $48,580 $73,892 $9,705,396 $9,779,288 $811 $69,349 $12,153 
Schedule of the Impaired and Non-impaired Loans and Leases, by Loan and Leases Class
The following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated.
At June 30, 2025
Commercial Real EstateCommercialConsumerTotal
(In Thousands)
Allowance for Loan and Lease Losses:
Individually evaluated$3,804 $17,892 $13 $21,709 
Collectively evaluated69,311 28,577 7,128 105,016 
Total$73,115 $46,469 $7,141 $126,725 
Loans and Leases:
Individually evaluated$150,569 $62,504 $3,177 $216,250 
Collectively evaluated5,334,977 2,457,843 1,573,304 9,366,124 
Total$5,485,546 $2,520,347 $1,576,481 $9,582,374 

At December 31, 2024
Commercial Real EstateCommercialConsumerTotal
(In Thousands)
Allowance for Loan and Lease Losses:
Individually evaluated $3,566 $13,967 $13 $17,546 
Collectively evaluated 70,605 30,202 6,730 107,537 
Total loans and leases$74,171 $44,169 $6,743 $125,083 
Loans and Leases:
Individually evaluated $77,983 $47,819 $2,626 $128,428 
Collectively evaluated 5,638,131 2,458,845 1,553,884 9,650,860 
Total loans and leases$5,716,114 $2,506,664 $1,556,510 $9,779,288 
Schedule of Financing Receivable, Modified
The following tables present the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.

Three Months Ended June 30, 2025
Number of LoansAmortized Cost% of Total Class of Loans and LeasesFinancial Effect
(In thousands)
Maturity Extension:
C&I2$446 0.02 %
One loan was given a 12 month maturity extension to assist the borrower and another loan was given a 7 month maturity extension. The financial effect was deemed "de minimis".
Significant Payment Delays:
Commercial Real Estate13,815 0.07 %
This loan was given principal payments deferrals for 12 months. The financial effect was deemed "de minimis."
Combination - Maturity Extension and Interest Rate Reduction:
C&I23640.01 %
These loans were given 36 month extensions and reductions in their stated interest rates of 2.3%.
Total5$4,625 
Three Months Ended June 30, 2024
Number of LoansAmortized Cost% of Total Class of Loans and LeasesFinancial Effect
(In thousands)
Maturity Extension:
C&I1$104 — %
This loan was given a 30-month maturity extensions to assist the borrower. The financial effect was deemed "de minimis."
Significant Payment Delays:
C&I12$13,833 0.57 %
These loans and letters of credit were given a two quarter (6 month) payment forbearance. The projected impact of the payment delay is approximately $0.1 million.
Combination - Maturity Extension and Significant Payment Delays:
C&I2$1,615 0.07 %
This loan was given 6 months maturity extensions and 6 months of interest-only payments.
Combination - Maturity Extension and Interest Rate Reduction:
C&I2$123 0.01 %
These loans were given 21 and 25 month extensions, respectively, and reductions in their stated interest rates of 7.5%.
Total17$15,675 0.65 %
Six Months Ended June 30, 2025
Number of LoansAmortized Cost% of Total Class of Loans and LeasesFinancial Effect
(In thousands)
Maturity Extension:
C&I4$1,537 0.06 %
Loans were given 15, 12, 7, and 3 month maturity extensions to assist the borrowers. The financial effect was deemed "de minimis".
Significant Payment Delays:
CRE13,815 0.07 %
This loan was given principal payments deferrals for 12 months. The financial effect was deemed "de minimis."
Combination - Maturity Extension and Interest Rate Reduction:
C&I2$364 0.01 %
These loans were given 36 month extensions, and reductions in their stated interest rates of 2.3%. The financial effect was deemed "de minimis."
Total7$5,716 
Six Months Ended June 30, 2024
Number of LoansAmortized Cost% of Total Class of Loans and LeasesFinancial Effect
(In thousands)
Maturity Extension:
C&I2$131 0.01 %
One loan was given 30 month maturity extension to assist the borrower and the other loan was given a 2 month deferment of payments along with 13 months added to the term of the loan. The financial effect was deemed "de minimis".
Significant Payment Delays:
C&I1213,833 0.57 %
These loans and letters of credit were given a two quarter (6 month) payment forbearance. The projected impact of the payment delay is approximately $0.1 million.
Combination - Maturity Extension and Significant Payment Delays:
C&I21,615 0.07 %
This loan was given 6 months maturity extensions and 6 months of interest-only payment.
Combination - Maturity Extension and Interest Rate Reduction:
C&I2123 0.01 %
These loans were given 21 and 25 month extensions, respectively, and reductions in their stated interest rates of 7.5%.
Total18$15,702 0.66 %
The following tables present the aging analysis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.
Three Months Ended June 30, 2025
Current30-60 Days Past Due61-90 Days Past Due90+ Days Past DueModified
(In thousands)
Total Modifications$4,511 130 — — — 
Three Months Ended June 30, 2024
Current30-60 Days Past Due61-90 Days Past Due90+ Days Past DueModified
(In thousands)
Total Modifications$14,321 $1,353 $— $— $— 
Six Months Ended June 30, 2025
Current30-60 Days Past Due61-90 Days Past Due90+ Days Past DueModified
(In thousands)
Total Modifications$4,766 130 — 837 — 
Six Months Ended June 30, 2024
Current30-60 Days Past Due61-90 Days Past Due90+ Days Past DueModified
(In thousands)
Total Modifications$14,349 $1,353 $— $— $—