v3.26.1
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
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 June 30, 2026 are as follows:
June 30, 2026
(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")$725,173 $2,457 $(21,627)$706,003 
Non-GSE certificates & CMOs458,967 598 (11,408)448,157 
Asset-Backed Securities ("ABS")793,598 731 (10,136)784,193 
Corporate88,068 75 (2,198)85,945 
Other10,674 — (440)10,234 
2,076,480 3,861 (45,809)2,034,532 
      PACE assessments:
Residential PACE assessments207,432 — (1,130)206,302 
Total available for sale$2,283,912 $3,861 $(46,939)$2,240,834 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
     Traditional securities
GSE certificates & CMOs$181,708 $905 $(14,462)$168,151 
Non-GSE certificates & CMOs66,930 1 (3,791)63,140 
ABS126,409 16 (4,790)121,635 
Municipal63,419 285 (8,276)55,428 
Corporate3,000 — (62)2,938 
441,466 1,207 (31,381)411,292 
PACE assessments:
Commercial PACE assessments365,470 — (31,797)333,673 
Residential PACE assessments765,398 — (73,281)692,117 
1,130,868 — (105,078)1,025,790 
Total held-to-maturity$1,572,334 $1,207 $(136,459)$1,437,082 
Allowance for credit losses(787)
Total held-to-maturity, net of allowance for credit losses$1,571,547 
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 CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale:
Traditional securities:
GSE residential CMOs
$580,446 $5,258 $(18,634)$567,070 
Non-GSE certificates & CMOs281,787 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 
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 June 30, 2026 are as follows:
June 30, 2026
(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")$725,173 $2,457 $(21,627)$706,003 
Non-GSE certificates & CMOs458,967 598 (11,408)448,157 
Asset-Backed Securities ("ABS")793,598 731 (10,136)784,193 
Corporate88,068 75 (2,198)85,945 
Other10,674 — (440)10,234 
2,076,480 3,861 (45,809)2,034,532 
      PACE assessments:
Residential PACE assessments207,432 — (1,130)206,302 
Total available for sale$2,283,912 $3,861 $(46,939)$2,240,834 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair Value
Held-to-maturity:
     Traditional securities
GSE certificates & CMOs$181,708 $905 $(14,462)$168,151 
Non-GSE certificates & CMOs66,930 1 (3,791)63,140 
ABS126,409 16 (4,790)121,635 
Municipal63,419 285 (8,276)55,428 
Corporate3,000 — (62)2,938 
441,466 1,207 (31,381)411,292 
PACE assessments:
Commercial PACE assessments365,470 — (31,797)333,673 
Residential PACE assessments765,398 — (73,281)692,117 
1,130,868 — (105,078)1,025,790 
Total held-to-maturity$1,572,334 $1,207 $(136,459)$1,437,082 
Allowance for credit losses(787)
Total held-to-maturity, net of allowance for credit losses$1,571,547 
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 CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale:
Traditional securities:
GSE residential CMOs
$580,446 $5,258 $(18,634)$567,070 
Non-GSE certificates & CMOs281,787 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 
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 June 30, 2026. 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
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
(In thousands)
Due within one year$15,006 $14,842 $11,750 $11,511 
Due after one year through five years35,112 34,516 9,633 8,711 
Due after five years through ten years168,655 167,212 97,325 92,569 
Due after ten years880,999 870,104 1,204,988 1,093,000 
$1,099,772 $1,086,674 $1,323,696 $1,205,791 
Schedule of Proceeds Received and Gains (Losses) on Sale of Available for Sale Securities

Proceeds received and gains and losses realized on sales of available for sale securities are summarized below:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
(In thousands)
Proceeds$89,022 $40,017 $135,180 $56,136 
Realized gains$267 $— $475 $— 
Realized losses(306)(1,014)(1,336)(1,694)
               Net realized losses$(39)$(1,014)$(861)$(1,694)
Tax benefit$10 $271 $223 $461 
Schedule of Unrealized Losses
The following summarizes the fair value and unrealized losses for available for sale securities as of June 30, 2026 and December 31, 2025, 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:
June 30, 2026
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$326,432 $3,774 $118,343 $17,853 $444,775 $21,627 
Non-GSE certificates & CMOs245,471 1,673 106,065 9,735 351,536 11,408 
ABS315,123 1,202 85,164 8,934 400,287 10,136 
Corporate19,884 186 60,986 2,012 80,870 2,198 
Other10,234 440 — — 10,234 440 
PACE assessments:
 Residential PACE assessments206,302 1,130 — — 206,302 1,130 
Total available for sale$1,123,446 $8,405 $370,558 $38,534 $1,494,004 $46,939 

December 31, 2025
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$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 
Schedule of Debt Securities, Held-to-Maturity, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2026:

(In thousands)Non-GSE commercial certificatesCommercial PACEResidential PACETotal
Allowance for credit losses:
Beginning balance$40 $335 $374 $749 
Provision for (recovery of) credit losses(2)31 9 38 
Charge-offs— — — — 
Recoveries— — — — 
Ending balance$38 $366 $383 $787 

The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2025:
(In thousands)Non-GSE commercial certificatesCommercial PACEResidential PACETotal
Allowance for credit losses:
Beginning balance$47 $271 $383 $701 
Provision for (recovery of) credit losses— 7 (4)3 
Charge-offs— — — — 
Recoveries— — — — 
Ending balance$47 $278 $379 $704 
The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2026:


(In thousands)Non-GSE commercial certificatesCommercial PACEResidential PACETotal
Allowance for credit losses:
Beginning balance$41 $328 $375 $744 
Provision for (recovery of) credit losses(3)38 8 43 
Charge-offs— — — — 
Recoveries— — — — 
Ending balance$38 $366 $383 $787 

The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2025:
(In thousands)Non-GSE commercial certificatesCommercial PACEResidential PACETotal
Allowance for credit losses:
Beginning balance$49 $268 $387 $704 
Provision for (recovery of) credit losses(2)10 (8)— 
Charge-offs— — — — 
Recoveries— — — — 
Ending balance$47 $278 $379 $704