DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Derivative Financial Instruments According to Type of Hedge Designation |
Our derivative financial instruments according to the type of hedge in which they are designated at December 31 follow: | | | | | | | | | | | | | | | | | | | 2025 | | Notional
Amount | | Average
Maturity
(years) | | Fair
Value | | (Dollars in thousands) | | Fair value hedge designation | | | | | | Pay-fixed interest rate swap agreement - commercial | $ | 5,242 | | | 3.4 | | $ | 175 | | | Pay-fixed interest rate swap agreements - securities available for sale | 148,895 | | | 1.8 | | 6,923 | | | Pay-fixed interest rate swap agreements - installment | 100,000 | | | 1.4 | | (824) | | Pay-fixed interest rate swap agreements - mortgage | 117,000 | | | 1.7 | | (1,186) | | | Interest rate cap agreements - securities available for sale | 40,970 | | | 2.3 | | 32 | | | Total | $ | 412,107 | | | 1.8 | | $ | 5,120 | | | | | | | | Cash flow hedge designation | | | | | | Interest rate floor agreements - commercial | $ | 450,000 | | | 1.8 | | $ | 4,669 | | Interest rate cap agreements - short-term funding liabilities | 50,000 | | | 2.1 | | 46 | | | Total | $ | 500,000 | | | 1.8 | | $ | 4,715 | | | | | | | | | No hedge designation | | | | | | | Rate-lock mortgage loan commitments | $ | 17,180 | | | 0.1 | | $ | 230 | | | Mandatory commitments to sell mortgage loans | 24,909 | | | 0.1 | | (32) | | | Pay-fixed interest rate swap agreements - commercial | 683,715 | | | 4.5 | | (3,345) | | | Pay-variable interest rate swap agreements - commercial | 683,715 | | | 4.5 | | 3,345 | | | Total | $ | 1,409,519 | | | 4.4 | | $ | 198 | |
| | | | | | | | | | | | | | | | | | | 2024 | | Notional
Amount | | Average
Maturity
(years) | | Fair
Value | | (Dollars in thousands) | | Fair value hedge designation | | | | | | Pay-fixed interest rate swap agreement - commercial | $ | 5,647 | | | 4.4 | | $ | 361 | | | Pay-fixed interest rate swap agreements - securities available for sale | 148,895 | | | 2.8 | | 13,265 | | | Pay-fixed interest rate swap agreements - installment | 100,000 | | | 2.4 | | 77 | | Pay-fixed interest rate swap agreements - mortgage | 147,000 | | | 2.2 | | 283 | | | Interest rate cap agreements - securities available for sale | 40,970 | | | 3.3 | | 334 | | | Total | $ | 442,512 | | | 2.6 | | $ | 14,320 | | | | | | | | Cash flow hedge designation | | | | | | Interest rate floor agreements - commercial | $ | 375,000 | | | 2.3 | | $ | 3,642 | | Interest rate cap agreements - short-term funding liabilities | 25,000 | | | 3.4 | | 312 | | | Total | $ | 400,000 | | | 2.1 | | $ | 3,954 | | | | | | | | | No hedge designation | | | | | | | Rate-lock mortgage loan commitments | $ | 12,703 | | | 0.1 | | $ | 100 | | | Mandatory commitments to sell mortgage loans | 19,874 | | | 0.1 | | 62 | | | Pay-fixed interest rate swap agreements - commercial | 538,053 | | | 5.0 | | 13,325 | | | Pay-variable interest rate swap agreements - commercial | 538,053 | | | 5.0 | | (13,325) | | | Total | $ | 1,108,683 | | | 4.9 | | $ | 162 | |
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| Schedule of Derivative Instruments in Statement of Financial Condition, Fair Value |
Fair Values of Derivative Instruments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | December 31, | | December 31, | | 2025 | | 2024 | | 2025 | | 2024 | | Balance
Sheet
Location | | Fair
Value | | Balance
Sheet
Location | | Fair
Value | | Balance
Sheet
Location | | Fair
Value | | Balance
Sheet
Location | | Fair
Value | | (In thousands) | | Derivatives designated as hedging instruments | | | | | | | | | | | | | | | | | Pay-fixed interest rate swap agreements | Other assets | | $ | 7,114 | | | Other assets | | $ | 14,336 | | | Other liabilities | | $ | 2,026 | | | Other liabilities | | $ | 350 | | | Interest rate cap agreements | Other assets | | 78 | | | Other assets | | 646 | | | Other liabilities | | — | | | Other liabilities | | — | | | Interest rate floor agreements | Other assets | | 4,669 | | | Other assets | | 3,642 | | | Other liabilities | | — | | | Other liabilities | | — | | | | | 11,861 | | | | | 18,624 | | | | | 2,026 | | | | | 350 | | | Derivatives not designated as hedging instruments | | | | | | | | | | | | | | | | | Rate-lock mortgage loan commitments | Other assets | | 230 | | | Other assets | | 100 | | | Other liabilities | | — | | | Other liabilities | | — | | | Mandatory commitments to sell mortgage loans | Other assets | | — | | | Other assets | | 62 | | | Other liabilities | | 32 | | | Other liabilities | | — | | | Pay-fixed interest rate swap agreements - commercial | Other assets | | 7,074 | | | Other assets | | 15,799 | | | Other liabilities | | 10,419 | | | Other liabilities | | 2,474 | | | Pay-variable interest rate swap agreements - commercial | Other assets | | 10,419 | | | Other assets | | 2,474 | | | Other liabilities | | 7,074 | | | Other liabilities | | 15,799 | | | | | 17,723 | | | | | 18,435 | | | | | 17,525 | | | | | 18,273 | | | Total derivatives | | | $ | 29,584 | | | | | $ | 37,059 | | | | | $ | 19,551 | | | | | $ | 18,623 | |
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| Schedule of Derivative Instruments, Gain (Loss) |
The effect of derivative financial instruments on the Consolidated Statements of Operations follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | Gain (loss) Recognized in Other Comprehensive Income (Effective Portion) | | Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) | | Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) | | Location of
Gain (Loss)
Recognized
in Income | | Gain (Loss)
Recognized
in Income | | 2025 | | 2024 | | 2023 | | | 2025 | | 2024 | | 2023 | | | 2025 | | 2024 | | 2023 | | (In thousands) | | Fair Value Hedges | | | | | | | | | | | | | | | | | | | | | | | Pay-fixed interest rate swap agreement - commercial | | | | | | | | | | | | | | | Interest and fees on loans | | $ | (186) | | | $ | 12 | | | $ | (98) | | | Pay-fixed interest rate swap agreement - securities available for sale | | | | | | | | | | | | | | | Interest on securities | | (6,342) | | | (2,022) | | | (4,619) | | | Pay-fixed interest rate swap agreement - installment | | | | | | | | | | | | | | | Interest and fees on loans | | (901) | | | 1,305 | | | (1,305) | | | Pay-fixed interest rate swap agreements - Mortgage | | | | | | | | | | | | | | | Interest and fees on loans | | (1,469) | | | 2,414 | | | (2,131) | | | Interest rate cap agreements - securities available for sale | $ | (302) | | | $ | 23 | | | $ | (848) | | | Interest on securities | | $ | (227) | | | $ | (167) | | | $ | (262) | | | Interest on securities | | — | | | (145) | | | 90 | | | Interest rate cap agreements - installment | — | | | — | | | — | | | Interest and fees on loans | | — | | | — | | | — | | | Interest and fees on loans | | — | | | — | | | (14) | | | Total | $ | (302) | | | $ | 23 | | | $ | (848) | | | | | $ | (227) | | | $ | (167) | | | $ | (262) | | | | | $ | (8,898) | | | $ | 1,564 | | | $ | (8,077) | | | Cash Flow Hedges | | | | | | | | | | | | | | | | | | | | | | | Interest rate floor agreements - commercial | $ | (612) | | | $ | (4,223) | | | $ | 635 | | | Interest and fees on loans | | $ | (1,861) | | | $ | (1,199) | | | $ | (175) | | | Interest and fees on loans | | $ | (1,861) | | | $ | (1,199) | | | $ | (175) | | Interest rate cap agreements - short-term funding liabilities | (324) | | | (12) | | | — | | | Interest expense | | (23) | | | — | | | — | | | Interest expense | | (23) | | | — | | | — | | | Total | $ | (936) | | | $ | (4,235) | | | $ | 635 | | | | | $ | (1,884) | | | $ | (1,199) | | | $ | (175) | | | | | $ | (1,884) | | | $ | (1,199) | | | $ | (175) | | | No hedge designation | | | | | | | | | | | | | | | | | | | | | | | Rate-lock mortgage loan commitments | | Net gains on mortgage loans | | $ | 130 | | | $ | (73) | | | $ | 1,229 | | | Mandatory commitments to sell mortgage loans | | Net gains on mortgage loans | | (94) | | | 341 | | | (594) | | | Pay-fixed interest rate swap agreements - commercial | | Interest and fees on loans | | (16,670) | | | 6,156 | | | (9,894) | | | Pay-variable interest rate swap agreements -commercial | | Interest and fees on loans | | 16,670 | | | (6,156) | | | 9,894 | | | Pay-variable interest rate swap agreement | | Non-interest expense - other | | — | | | — | | | (12) | | | Total | | | | | | | | | | | | | | | | | $ | 36 | | | $ | 268 | | | $ | 623 | |
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