DERIVATIVES AND HEDGING ACTIVITIES (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| DERIVATIVES AND HEDGING ACTIVITIES |
|
| Schedule of fair value of derivative Instruments and location in statements of financials |
| | | | | | | | | | | Location in | | Fair Value | | | Consolidated Statements | | June 30, | | December 31, | | | of Financial Condition | | 2026 | | 2025 | | | | | | (In Thousands) | Derivatives designated as hedging instruments | | | | | | | | | Active interest rate swaps | | Accrued expenses and other liabilities | | $ | 9,261 | | $ | 5,590 | | | | | | | | | | Total derivatives designated as hedging instruments | | | | $ | 9,261 | | $ | 5,590 | | | | | | | | | | Derivatives not designated as hedging instruments | | | | | | | | | Asset Derivatives | | | | | | | | | Interest rate products | | Prepaid expenses and other assets | | $ | 5,879 | | $ | 5,663 | | | | | | | | | | Total derivatives not designated as hedging instruments | | | | $ | 5,879 | | $ | 5,663 | | | | | | | | | | Liability Derivatives | | | | | | | | | Interest rate products | | Accrued expenses and other liabilities | | $ | 5,859 | | $ | 5,646 | | | | | | | | | | Total derivatives not designated as hedging instruments | | | | $ | 5,859 | | $ | 5,646 |
|
| Schedule of effect of cash flow hedge accounting through accumulated other comprehensive income on statements of comprehensive income |
| | | | | | | | | Amount of Gain (Loss) | | | Recognized in AOCI | | | Three Months Ended June 30, | Cash Flow Hedges | | 2026 | | 2025 | | | | (In Thousands) | Terminated interest rate swap, net of income taxes | | $ | — | | $ | (1,562) | Active interest rate swaps, net of income taxes | | | (1,378) | | | 2,671 | | | $ | (1,378) | | $ | 1,109 |
| | | | | | | | | Amount of Gain (Loss) | | | Recognized in AOCI | | | Six Months Ended June 30, | Cash Flow Hedges | | 2026 | | 2025 | | | | (In Thousands) | Terminated interest rate swap, net of income taxes | | $ | — | | $ | (3,108) | Active interest rate swaps, net of income taxes | | | (2,768) | | | 6,852 | | | $ | (2,768) | | $ | 3,744 |
|
| Schedule of effect of cash flow hedge accounting on statements of operations |
| | | | | | | | | | | | | | | Three Months Ended June 30, | Cash Flow Hedges | | 2026 | | 2025 | | | Interest | | Interest | | Interest | | Interest | | | Income | | Expense | | Income | | Expense | | | | (In Thousands) | Total Interest Income | | $ | 72,461 | | $ | — | | $ | 80,975 | | $ | — | Total Interest Expense | | | — | | | 22,968 | | | — | | | 30,012 | | | $ | 72,461 | | $ | 22,968 | | $ | 80,975 | | $ | 30,012 | | | | | | | | | | | | | | Terminated interest rate swap | | $ | — | | $ | — | | $ | 2,025 | | $ | — | Active interest rate swaps | | | (1,022) | | | — | | | (1,757) | | | — | | | $ | (1,022) | | $ | — | | $ | 268 | | $ | — |
| | | | | | | | | | | | | | | Six Months Ended June 30, | Cash Flow Hedges | | 2026 | | 2025 | | | Interest | | Interest | | Interest | | Interest | | | Income | | Expense | | Income | | Expense | | | | (In Thousands) | Total Interest Income | | $ | 143,626 | | $ | — | | $ | 161,218 | | $ | — | Total Interest Expense | | | — | | | 45,805 | | | — | | | 60,921 | | | $ | 143,626 | | $ | 45,805 | | $ | 161,218 | | $ | 60,921 | | | | | | | | | | | | | | Terminated interest rate swap | | $ | — | | $ | — | | $ | 4,028 | | $ | — | Active interest rate swaps | | | (2,053) | | | — | | | (3,499) | | | — | | | $ | (2,053) | | $ | — | | $ | 529 | | $ | — |
|