Investment Securities (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Investment Securities |
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| Schedule of amortized cost and approximate fair values, together with gross unrealized gains and losses |
| | | | | | | | | | | | | | | March 31, 2026 | | | | | | Gross | | Gross | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | Cost | | Gains | | Losses | | Value | | | | (In thousands) | Securities available for sale: | | | | | | | | | | | | | Treasury notes | | $ | 31,327 | | $ | 13 | | $ | — | | $ | 31,340 | Federal Agencies | | | 259,865 | | | 4 | | | 1,067 | | | 258,802 | Mortgage-backed - Agency (1) - multi-family | | | 3,553 | | | — | | | 6 | | | 3,547 | Mortgage-backed - Non-Agency - residential - fair value option (2) | | | 371,222 | | | — | | | — | | | 371,222 | Mortgage-backed - Agency - residential - fair value option (2) | | | 178,985 | | | — | | | — | | | 178,985 | Total securities available for sale | | $ | 844,952 | | $ | 17 | | $ | 1,073 | | $ | 843,896 | Securities held to maturity: | | | | | | | | | | | | | Mortgage-backed - Non-Agency - multi-family | | $ | 394,844 | | $ | — | | $ | 892 | | $ | 393,952 | Mortgage-backed - Non-Agency - residential | | | 663,192 | | | 2,014 | | | — | | | 665,206 | Mortgage-backed - Non-Agency - healthcare | | | 356,306 | | | — | | | 3 | | | 356,303 | Mortgage-backed - Agency - multi-family | | | 11,640 | | | — | | | 657 | | | 10,983 | Total securities held to maturity | | $ | 1,425,982 | | $ | 2,014 | | $ | 1,552 | | $ | 1,426,444 | | | | | | | | | | | | | | FHLB and other equity securities (3) | | $ | 227,589 | | | | | | | | | |
| (1) | Agency includes government sponsored entities, such as Fannie Mae, Freddie Mac, Ginnie Mae, FHLB and FCB. |
| (2) | Fair value option securities represent securities which the Company has elected to carry at fair value with changes in the fair value recognized in earnings as they occur. |
| (3) | The Company reports the carrying value utilizing the measurement alternative election, reflecting any impairments or other adjustments if observable price changes occur for identical or similar investments of the same issuer. |
| | | | | | | | | | | | | | | December 31, 2025 | | | | | | Gross | | Gross | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | Cost | | Gains | | Losses | | Value | | | | (In thousands) | Securities available for sale: | | | | | | | | | | | | | Treasury notes | | $ | 30,635 | | $ | 45 | | $ | — | | $ | 30,680 | Federal Agencies | | | 259,591 | | | 21 | | | 104 | | | 259,508 | Mortgage-backed - Agency (1) - multi-family | | | 3,562 | | | — | | | 6 | | | 3,556 | Mortgage-backed - Non-Agency - residential - fair value option (2) | | | 385,460 | | | — | | | — | | | 385,460 | Mortgage-backed - Agency - residential - fair value option (2) | | | 185,854 | | | — | | | — | | | 185,854 | Total securities available for sale | | $ | 865,102 | | $ | 66 | | $ | 110 | | $ | 865,058 | Securities held to maturity: | | | | | | | | | | | | | Mortgage-backed - Non-Agency - multi-family | | $ | 438,430 | | $ | — | | $ | 950 | | $ | 437,480 | Mortgage-backed - Non-Agency - residential | | | 699,957 | | | 1,655 | | | 127 | | | 701,485 | Mortgage-backed - Non-Agency - healthcare | | | 393,588 | | | — | | | 4 | | | 393,584 | Mortgage-backed - Agency - multi-family | | | 11,684 | | | — | | | 679 | | | 11,005 | Total securities held to maturity | | $ | 1,543,659 | | $ | 1,655 | | $ | 1,760 | | $ | 1,543,554 | | | | | | | | | | | | | | FHLB and other equity securities (3) | | $ | 227,589 | | | | | | | | | |
| (1) | Agency includes government sponsored entities, such as Fannie Mae, Freddie Mac, Ginnie Mae, FHLB and FCB. |
| (2) | Fair value option securities represent securities which the Company has elected to carry at fair value with changes in the fair value recognized in earnings as they occur. |
| (3) | The Company reports the carrying value utilizing the measurement alternative election, reflecting any impairments or other adjustments if observable price changes occur for identical or similar investments of the same issuer. |
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| Schedule of amortized cost and fair value of available-for-sale securities and held to maturity securities by contractual maturity |
| | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | | Amortized | | Fair | | Amortized | | Fair | | | Cost | | Value | | Cost | | Value | | | | (In thousands) | Securities available for sale: | | | Within one year | | $ | 61,194 | | $ | 61,210 | | $ | 85,226 | | $ | 85,292 | After one through five years | | | 229,998 | | | 228,932 | | | 205,000 | | | 204,896 | | | | 291,192 | | | 290,142 | | | 290,226 | | | 290,188 | Mortgage-backed - Agency - multi-family | | | 3,553 | | | 3,547 | | | 3,562 | | | 3,556 | Mortgage-backed - Non-Agency residential - fair value option | | | 371,222 | | | 371,222 | | | 385,460 | | | 385,460 | Mortgage-backed - Agency - residential - fair value option | | | 178,985 | | | 178,985 | | | 185,854 | | | 185,854 | | | $ | 844,952 | | $ | 843,896 | | $ | 865,102 | | $ | 865,058 | Securities held to maturity: | | | | | | | | | | | | | Mortgage-backed - Non-Agency - multi-family | | $ | 394,844 | | $ | 393,952 | | $ | 438,430 | | $ | 437,480 | Mortgage-backed - Non-Agency - residential | | | 663,192 | | | 665,206 | | | 699,957 | | | 701,485 | Mortgage-backed - Non-Agency - healthcare | | | 356,306 | | | 356,303 | | | 393,588 | | | 393,584 | Mortgage-backed - Agency - multi-family | | | 11,640 | | | 10,983 | | | 11,684 | | | 11,005 | | | $ | 1,425,982 | | $ | 1,426,444 | | $ | 1,543,659 | | $ | 1,543,554 |
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| Schedule of gross unrealized losses and fair value of investments with unrealized losses have been in continuous |
| | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | | | | | | | 12 Months or | | | | | | | | | Less than 12 Months | | Longer | | Total | | | | | | Gross | | | | | Gross | | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | | (In thousands) | Securities available for sale: | | | | | | | | | | | | | | | | | | | Federal Agencies | | $ | 228,932 | | $ | 1,067 | | $ | — | | $ | — | | $ | 228,932 | | $ | 1,067 | Mortgage-backed - Agency - multi-family | | | 3,547 | | | 6 | | | — | | | — | | | 3,547 | | | 6 | | | $ | 232,479 | | $ | 1,073 | | $ | — | | $ | — | | $ | 232,479 | | $ | 1,073 |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | 12 Months or | | | | | | | | | Less than 12 Months | | Longer | | Total | | | | | | Gross | | | | | Gross | | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | | (In thousands) | Securities available for sale: | | | | | | | | | | | | | | | | | | | Federal Agencies | | $ | 204,896 | | $ | 104 | | $ | — | | $ | — | | $ | 204,896 | | $ | 104 | Mortgage-backed - Agency - multi-family | | | 3,556 | | | 6 | | | — | | | — | | | 3,556 | | | 6 | | | $ | 208,452 | | $ | 110 | | $ | — | | $ | — | | $ | 208,452 | | $ | 110 |
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