v3.26.1
Loans Receivable, Net (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans Receivable, Net
Loans receivable, net at June 30, 2026 and December 31, 2025 consisted of the following (in thousands):
June 30,December 31,
20262025
Commercial:
Commercial real estate – investor$9,125,313 $5,420,989 
Commercial and industrial:
Commercial and industrial – real estate1,800,501 986,431 
Commercial and industrial – non-real estate1,907,719 1,227,556 
Total commercial and industrial3,708,220 2,213,987 
Total commercial12,833,533 7,634,976 
Consumer:
Residential real estate3,245,311 3,194,264 
Other consumer
196,908 202,763 
Total consumer3,442,219 3,397,027 
Total loans receivable16,275,752 11,032,003 
Deferred origination costs, net of fees20,496 22,389 
Allowance for loan credit losses(209,716)(83,726)
Total loans receivable, net$16,086,532 $10,970,666 
Schedule of Total Loans by Year of Origination, Internally Assigned Credit Grades, Risk Characteristics and Gross Charge-Offs
The following tables summarize total loans (in thousands) by year of origination, internally assigned credit grades, and risk characteristics. The tables also include gross charge-offs that were recorded for the year to date periods presented, by year of origination (in thousands):
202620252024202320222021 and priorRevolving lines of creditTotal
As of June 30, 2026
Commercial real estate - investor
Pass$446,641 $905,946 $331,635 $499,793 $1,551,649 $4,297,144 $778,091 $8,810,899 
Special Mention— 9,630 — — 3,948 56,288 2,934 72,800 
Substandard— — — 1,618 24,905 209,719 5,372 241,614 
Total commercial real estate - investor446,641 915,576 331,635 501,411 1,580,502 4,563,151 786,397 9,125,313 
Gross charge-offs(351)— (85)(411)(119)(84)— (1,050)
Commercial and industrial:
Commercial and industrial - real estate
Pass191,430 298,000 86,198 106,205 215,867 754,794 41,385 1,693,879 
Special Mention273 2,646 8,823 — — 332 — 12,074 
Substandard— 17,975 33,360 — — 43,132 81 94,548 
Total commercial and industrial - real estate191,703 318,621 128,381 106,205 215,867 798,258 41,466 1,800,501 
Gross charge-offs— — — — — — — — 
Commercial and industrial - non-real estate
Pass267,865 385,265 207,236 79,583 68,357 86,685 735,542 1,830,533 
Special Mention175 9,510 7,643 14,620 869 1,541 12,779 47,137 
Substandard— 4,358 481 — 1,179 1,732 22,299 30,049 
Total commercial and industrial - non-real estate268,040 399,133 215,360 94,203 70,405 89,958 770,620 1,907,719 
Gross charge-offs— (178)(893)— — (73)— (1,144)
Total commercial and industrial459,743 717,754 343,741 200,408 286,272 888,216 812,086 3,708,220 
Residential real estate (1)
Pass13,407 466,545 228,453 270,909 509,877 1,748,890 — 3,238,081 
Special Mention— 1,220 896 833 116 1,567 — 4,632 
Substandard— 179 — 333 — 2,086 — 2,598 
Total residential real estate13,407 467,944 229,349 272,075 509,993 1,752,543 — 3,245,311 
Gross charge-offs— (47)(107)(3)(28)(198)— (383)
Other consumer (1)
Pass— 29,063 22,536 20,739 12,185 110,346 136 195,005 
Special Mention— — — — — 62 — 62 
Substandard— — — 85 — 1,756 — 1,841 
Total other consumer— 29,063 22,536 20,824 12,185 112,164 136 196,908 
Gross charge-offs— — (29)— (5)(121)— (155)
Total loans$919,791 $2,130,337 $927,261 $994,718 $2,388,952 $7,316,074 $1,598,619 $16,275,752 
Total gross charge-offs$(351)$(225)$(1,114)$(414)$(152)$(476)$— $(2,732)
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.
202520242023202220212020 and priorRevolving lines of creditTotal
As of December 31, 2025
Commercial real estate - investor
Pass$647,529 $65,950 $166,397 $1,161,291 $1,299,618 $1,427,844 $579,022 $5,347,651 
Special Mention66 — — 2,932 — 8,735 725 12,458 
Substandard— 85 — 20,788 298 33,969 5,740 60,880 
Total commercial real estate - investor647,595 66,035 166,397 1,185,011 1,299,916 1,470,548 585,487 5,420,989 
Gross charge-offs(102)(310)(1,938)(649)(24)(511)— (3,534)
Commercial and industrial:
Commercial and industrial - real estate
Pass255,690 74,284 58,970 90,142 59,476 403,738 31,844 974,144 
Special Mention— 250 — — — 731 — 981 
Substandard— — — — — 11,306 — 11,306 
Total commercial and industrial - real estate255,690 74,534 58,970 90,142 59,476 415,775 31,844 986,431 
Gross charge-offs— — — — — — — — 
Commercial and industrial - non-real estate
Pass325,180 181,538 40,761 30,417 8,314 35,057 589,300 1,210,567 
Special Mention39 224 — — — — 690 953 
Substandard— 528 553 776 649 1,774 11,756 16,036 
Total commercial and industrial - non-real estate325,219 182,290 41,314 31,193 8,963 36,831 601,746 1,227,556 
Gross charge-offs— (815)— (20)— — — (835)
Total commercial and industrial580,909 256,824 100,284 121,335 68,439 452,606 633,590 2,213,987 
Residential real estate (1)
Pass471,828 225,885 209,979 501,308 743,610 1,034,301 — 3,186,911 
Special Mention218 121 345 265 1,432 1,298 — 3,679 
Substandard207 1,590 396 93 445 943 — 3,674 
Total residential real estate472,253 227,596 210,720 501,666 745,487 1,036,542 — 3,194,264 
Gross charge-offs(37)(218)(106)(319)(345)(426)— (1,451)
Other consumer (1)
Pass27,971 24,292 23,141 13,697 15,086 93,425 3,242 200,854 
Special Mention— — — — 8 82 — 90 
Substandard— 190 181 67 — 1,381 — 1,819 
Total other consumer27,971 24,482 23,322 13,764 15,094 94,888 3,242 202,763 
Gross charge-offs— — — (48)— (385)— (433)
Total loans$1,728,728 $574,937 $500,723 $1,821,776 $2,128,936 $3,054,584 $1,222,319 $11,032,003 
Total gross charge-offs$(139)$(1,343)$(2,044)$(1,036)$(369)$(1,322)$— $(6,253)
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.
Schedule of Analysis of Allowance for Credit Losses on Loans
An analysis of the allowance for credit losses on loans for the three and six months ended June 30, 2026 and 2025 was as follows (in thousands):
Commercial and Industrial
Commercial
Real Estate –
Investor		Commercial and Industrial - Real EstateCommercial
and 
Industrial - Non-Real Estate		Residential
Real Estate		Other ConsumerTotal
For the three months ended June 30, 2026
Allowance for credit losses on loans
Balance at beginning of period$29,014 $7,293 $23,663 $25,140 $1,000 $86,110 
Provision (benefit) for credit losses3,458 (1,709)974 1,123 (57)3,789 
Initial allowance for credit losses on acquired loans from Flushing (1)
85,748 15,796 18,606 966 215 121,331 
Charge-offs (966)— (342)(354)(114)(1,776)
Recoveries100 17 117 2 26 262 
Balance at end of period$117,354 $21,397 $43,018 $26,877 $1,070 $209,716 
For the three months ended June 30, 2025
Allowance for credit losses on loans
Balance at beginning of period$33,947 $4,102 $12,837 $26,810 $1,102 $78,798 
Provision (benefit) for credit losses690 (179)1,951 108 116 2,686 
Charge-offs (1,791)— — (370)(254)(2,415)
Recoveries80 11 34 22 50 197 
Balance at end of period$32,926 $3,934 $14,822 $26,570 $1,014 $79,266 
For the six months ended June 30, 2026
Allowance for credit losses on loans
Balance at beginning of period$29,944 $4,753 $23,376 $24,680 $973 $83,726 
Provision (benefit) for credit losses2,604 828 1,924 1,591 (73)6,874 
Initial allowance for credit losses on acquired loans from Flushing (1)
85,748 15,796 18,606 966 215 121,331 
Charge-offs (1,050)— (1,144)(383)(155)(2,732)
Recoveries108 20 256 23 110 517 
Balance at end of period$117,354 $21,397 $43,018 $26,877 $1,070 $209,716 
For the six months ended June 30, 2025
Allowance for credit losses on loans
Balance at beginning of period$30,780 $3,817 $10,471 $27,587 $952 $73,607 
Provision (benefit) for credit losses3,837 103 4,315 51 207 8,513 
Charge-offs
(1,846)— — (1,092)(275)(3,213)
Recoveries155 14 36 24 130 359 
Balance at end of period$32,926 $3,934 $14,822 $26,570 $1,014 $79,266 
(1)The allowance for credit losses for the three and six months ended June 30, 2026 reflects the initial allowance recorded on purchased seasoned loans and purchased credit deteriorated loans acquired in the Flushing merger, in accordance with ASU 2025-08.
Schedule of Recorded Investment in Non-Accrual Loans, by Loan Portfolio Segment
The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of June 30, 2026 and December 31, 2025 (in thousands):
June 30,December 31,
20262025
Commercial real estate – investor$76,721 $13,636 
Commercial and industrial:
Commercial and industrial - real estate16,980 4,813 
Commercial and industrial - non-real estate5,045 640 
Total commercial and industrial22,025 5,453 
Residential real estate7,043 6,200 
Other consumer
2,452 2,502 
Total non-performing loans$108,241 $27,791 
Schedule of Aging of Recorded Investment in Past Due Loans by Loan Portfolio Segment
The following table presents the aging of the recorded investment in past due loans as of June 30, 2026 and December 31, 2025 by loan portfolio segment (in thousands):
30-59
Days
Past Due		60-89
Days
Past Due		90 Days or Greater
Past Due		Total
Past Due		Loans Not
Past Due		Total
June 30, 2026
Commercial real estate – investor $12,168 $22,563 $52,162 $86,893 $9,038,420 $9,125,313 
Commercial and industrial:
Commercial and industrial - real estate806 650 15,661 17,117 1,783,384 1,800,501 
Commercial and industrial - non-real estate1,741 2,655 3,374 7,770 1,899,949 1,907,719 
Total commercial and industrial2,547 3,305 19,035 24,887 3,683,333 3,708,220 
Residential real estate1,002 4,465 2,598 8,065 3,237,246 3,245,311 
Other consumer
1,013 34 1,842 2,889 194,019 196,908 
Total loans$16,730 $30,367 $75,637 $122,734 $16,153,018 $16,275,752 
December 31, 2025
Commercial real estate – investor$25,516 $974 $12,333 $38,823 $5,382,166 $5,420,989 
Commercial and industrial:
Commercial and industrial - real estate587 — 4,281 4,868 981,563 986,431 
Commercial and industrial - non-real estate1,220 235 578 2,033 1,225,523 1,227,556 
Total commercial and industrial1,807 235 4,859 6,901 2,207,086 2,213,987 
Residential real estate14,517 3,672 3,673 21,862 3,172,402 3,194,264 
Other consumer
1,027 60 1,819 2,906 199,857 202,763 
Total loans$42,867 $4,941 $22,684 $70,492 $10,961,511 $11,032,003 
Schedule of Modified and Troubled Debt Restructuring Loans
The following table presents loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2026 and 2025 (in thousands):
Interest Rate ReductionCombination of Term Extension and Interest Rate ReductionTotal% of Total by Loan Portfolio Segment
For the three months ended June 30, 2026
Commercial real estate – investor$1,695 $— $1,695 0.02 %
$1,695 $— $1,695 0.01 %
For the six months ended June 30, 2026
Commercial real estate – investor$1,695 $— $1,695 0.02 %
Residential real estate— 102 102 — 
$1,695 $102 $1,797 0.01 %
Term ExtensionCombination of Term Extension and Other Than Insignificant Payment DelayTotal% of Total by Loan Portfolio Segment
For the three months ended June 30, 2025
Commercial real estate – investor$— $4,449 $4,449 0.09 %
$— $4,449 $4,449 0.04 %
For the six months ended June 30, 2025
Commercial real estate – investor$5,067 $4,449 $9,516 0.19 %
$5,067 $4,449 $9,516 0.09 %
The following table provides the performance of loans modified to borrowers experiencing financial difficulty during the twelve months ended June 30, 2026 and 2025 (in thousands):
Current90 Days or Greater past dueTotal
June 30, 2026
Commercial real estate – investor$1,695 $949 
(1)
$2,644 
Residential real estate102 — 102 
$1,797 $949 $2,746 
June 30, 2025
Commercial real estate – investor$16,805 $— $16,805 
$16,805 $— $16,805 
(1) Represents one commercial real estate - investor loan that defaulted during the three months ended June 30, 2026, which had been modified within the last 12 months.