v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 36,107,000 $ 27,234,000
Adjustments to reconcile net income to net cash from operating activities:    
Net accretion of available-for-sale securities (132,000) (197,000)
Amortization of core deposit intangible 1,784,000 74,000
Provision for credit losses 9,521,000 4,319,000
Loan hedge fair value adjustments, net (85,000) (74,000)
Change in net deferred loan origination fees 2,595,000 (61,000)
Loans originated for sale (6,870,000) (1,660,000)
Proceeds from sale of loans held for sale 9,483,000 3,892,000
Gain on sale of loans (265,000) (48,000)
Depreciation and amortization expense 1,833,000 1,422,000
Gain from BOLI death benefit   (25,000)
Increase in cash surrender values of BOLI (1,815,000) (1,793,000)
Deferred income tax expense (benefit) (23,000) (19,000)
ESOP expense 1,760,000 1,502,000
Stock-based compensation 3,180,000 787,000
Restricted stock awards cancelled (554,000)  
Changes in operating assets and liabilities:    
Net change in loans held for sale 7,480,000  
Accrued interest receivable (3,508,000) (701,000)
Prepaid expenses and other assets 567,000 1,333,000
Accrued expenses and other liabilities 399,000 3,398,000
Accrued retirement liabilities 52,000 (2,397,000)
NET CASH PROVIDED BY OPERATING ACTIVITIES 61,509,000 36,986,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Loan originations and purchases, net of repayments (458,595,000) (212,820,000)
Purchases of available-for-sale securities (56,759,000) (20,177,000)
Proceeds from maturities, calls and paydowns of available-for-sale securities 51,351,000 15,869,000
Recoveries of loans previously charged off 1,284,000 1,414,000
Net change in non-public investments (8,289,000) (11,403,000)
Proceeds from BOLI death benefit   128,000
Purchases of BOLI policies (20,000,000)  
Proceeds from surrender of BOLI policies 28,780,000 48,764,000
Purchases of banking premises and equipment (4,922,000) (1,057,000)
NET CASH USED IN INVESTING ACTIVITIES (467,150,000) (179,282,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 466,298,000 90,396,000
Net change in mortgagors' escrow accounts (773,000) (432,000)
Repurchase of common shares under share repurchase plans (46,259,000) (59,593,000)
Dividends paid (6,337,000)  
(Decrease) increase in FHLB borrowings, net (14,988,000) 6,765,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 397,941,000 37,136,000
NET CHANGE IN CASH AND CASH EQUIVALENTS (7,700,000) (105,160,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 407,854,000 363,922,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 400,154,000 258,762,000
Supplemental disclosure of cash paid during the period for:    
Interest 82,720,000 68,806,000
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right of use assets and lease liabilities 5,076,000  
Increase in operating lease right of use assets and lease liabilities resulting from lease modifications 1,213,000  
Unrealized (losses) gains on available-for-sale securities (1,859,000) 2,698,000
Unrealized holding losses on cash flow hedge (4,612,000)  
Mortgage loans transferred to loans held for sale 3,348,000 2,184,000
Restricted stock awards granted 3,000 12,000
Restricted stock awards cancelled (1,000)  
U.S. Federal    
Supplemental disclosure of cash paid during the period for:    
Income taxes 837,000  
Massachusetts    
Supplemental disclosure of cash paid during the period for:    
Income taxes 2,571,000 $ 3,150,000
New York    
Supplemental disclosure of cash paid during the period for:    
Income taxes 490,000  
California    
Supplemental disclosure of cash paid during the period for:    
Income taxes 339,000  
Jurisdictions below 5 percent of total income taxes paid, net of refunds    
Supplemental disclosure of cash paid during the period for:    
Income taxes $ 774,000