v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Reported on Consolidated Statements of Financial Condition at Fair Values
The following tables present the assets and liabilities reported on the Consolidated Statements of Financial Condition at their fair values as of March 31, 2026 and December 31, 2025, by level within the fair value hierarchy (in thousands):
Fair Value Measurements at Reporting Date Using:
March 31, 2026Quoted Prices in Active  Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Available for sale debt securities:
U.S. Treasury obligations$267,360 267,360 — — 
Government-agency obligations30,644 — 30,644 — 
Mortgage-backed securities2,690,053 — 2,690,053 — 
Asset-backed securities40,324 — 40,324 — 
State and municipal obligations111,692 — 111,692 — 
Corporate obligations99,994 — 99,994 — 
Total available for sale debt securities3,240,067 267,360 2,972,707 — 
Equity securities19,893 19,893 — — 
Derivative assets105,653 — 105,653 — 
$3,365,613 287,253 3,078,360 — 
Derivative liabilities$104,613 — 104,613 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$123,965 — — 123,965 
Foreclosed assets2,015 — — 2,015 
$125,980 — — 125,980 
Fair Value Measurements at Reporting Date Using:
December 31, 2025Quoted Prices in Active  Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Measured on a recurring basis:
Available for sale debt securities:
U.S. Treasury obligations$266,744 266,744 — — 
Government-agency obligations33,539 — 33,539 — 
Mortgage-backed securities2,612,347 — 2,612,347 — 
Asset-backed securities41,761 — 41,761 — 
State and municipal obligations112,999 — 112,999 — 
Corporate obligations97,366 — 97,366 — 
Total available for sale debt securities3,164,756 266,744 2,898,012 — 
Equity Securities19,875 19,875 — — 
Derivative assets105,734 — 105,734 — 
$3,290,365 286,619 3,003,746 — 
Derivative liabilities$108,102 — 108,102 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$54,506 — — 54,506 
Foreclosed assets2,015 — — 2,015 
$56,521 — — 56,521 
Schedule of Financial Instruments at Carrying and Fair Values
The following tables present the Company’s financial instruments at their carrying and fair values as of March 31, 2026 and December 31, 2025. Fair values are presented by level within the fair value hierarchy.
Fair Value Measurements as of March 31, 2026 Using:
(Dollars in thousands)Carrying valueFair valueQuoted Prices in Active  Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents$222,083 222,083 222,083 — — 
Available for sale debt securities:
U.S. Treasury obligations267,360 267,360 267,360 — — 
Government-agency obligations30,644 30,644 — 30,644 — 
Mortgage-backed securities2,690,053 2,690,053 — 2,690,053 — 
Asset-backed securities40,324 40,324 — 40,324 — 
State and municipal obligations111,692 111,692 — 111,692 — 
Corporate obligations99,994 99,994 — 99,994 — 
Total available for sale debt securities$3,240,067 3,240,067 267,360 2,972,707 — 
Held to maturity debt securities, net of allowance for credit losses:
Government-agency obligations1,000 989 — 989 — 
State and municipal obligations265,711 257,951 — 257,951 — 
Corporate obligations942 935 — 935 — 
Total held to maturity debt securities, net of allowance for credit losses$267,653 259,875 — 259,875 — 
FHLBNY and other stock132,510 132,510 132,510 — — 
Equity Securities19,893 19,893 19,893 — — 
Loans, net of allowance for credit losses19,478,221 19,540,183 — — 19,540,183 
Derivative assets105,653 105,653 — 105,653 — 
Financial liabilities:
Deposits other than certificates of deposits$15,910,680 15,910,680 15,910,680 — — 
Certificates of deposit3,189,622 3,188,905 — 3,188,905 — 
Total deposits$19,100,302 19,099,585 15,910,680 3,188,905 — 
Borrowings2,482,979 2,484,578 — 2,484,578 — 
Subordinated debentures407,824 426,483 — 426,483 — 
Derivative liabilities104,613 104,613 — 104,613 — 
Fair Value Measurements as of December 31, 2025 Using:
(Dollars in thousands)Carrying valueFair valueQuoted Prices in Active  Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents$211,484 211,484 211,484 — — 
Available for sale debt securities:
U.S. Treasury obligations266,744 266,744 266,744 — — 
Government-agency obligations33,539 33,539 — 33,539 — 
Mortgage-backed securities2,612,347 2,612,347 — 2,612,347 — 
Asset-backed securities41,761 41,761 — 41,761 — 
State and municipal obligations112,999 112,999 — 112,999 — 
Corporate obligations97,366 97,366 — 97,366 — 
Total available for sale debt securities$3,164,756 3,164,756 266,744 2,898,012 — 
Held to maturity debt securities:
Government-agency obligations$3,400 3,378 — 3,378 — 
State and municipal obligations276,585 269,711 — 269,711 — 
Corporate obligations2,142 2,129 — 2,129 — 
Total held to maturity debt securities$282,127 275,218 — 275,218 — 
FHLBNY and other stock115,687 115,687 115,687 — — 
Equity Securities19,875 19,875 19,875 — — 
Loans, net of allowance for credit losses19,334,004 19,421,891 — — 19,421,891 
Derivative assets105,734 105,734 — 105,734 — 
Financial liabilities:
Deposits other than certificates of deposits$15,991,407 15,991,407 15,991,407 — — 
Certificates of deposit3,287,276 3,288,485 — 3,288,485 — 
Total deposits$19,278,683 19,279,892 15,991,407 3,288,485 — 
Borrowings2,111,955 2,116,467 — 2,116,467 — 
Subordinated debentures406,582 433,450 — 433,450 — 
Derivative liabilities108,102 108,102 — 108,102 —