v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2026 and December 31, 2025, by level within the fair value hierarchy (in thousands):
Fair Value Measurements at Reporting Date Using:
June 30, 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$194,235 194,235 — — 
Government-agency obligations28,694 — 28,694 — 
Mortgage-backed securities2,805,031 — 2,805,031 — 
Asset-backed securities35,408 — 35,408 — 
State and municipal obligations112,384 — 112,384 — 
Corporate obligations110,704 — 110,704 — 
Total available for sale debt securities3,286,456 194,235 3,092,221 — 
Equity securities20,108 20,108 — — 
Derivative assets116,674 — 116,674 — 
$3,423,238 214,343 3,208,895 — 
Derivative liabilities$111,598 — 111,598 — 
Measured on a non-recurring basis:
Loans measured for impairment based on the fair value of the underlying collateral$111,845 — — 111,845 
Foreclosed assets963 — — 963 
$112,808 — — 112,808 

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 June 30, 2026 and December 31, 2025. Fair values are presented by level within the fair value hierarchy.
Fair Value Measurements as of June 30, 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$228,293 228,293 228,293 — — 
Available for sale debt securities:
U.S. Treasury obligations$194,235 194,235 194,235 — — 
Government-agency obligations28,694 28,694 — 28,694 — 
Mortgage-backed securities2,805,031 2,805,031 — 2,805,031 — 
Asset-backed securities35,408 35,408 — 35,408 — 
State and municipal obligations112,384 112,384 — 112,384 — 
Corporate obligations110,704 110,704 — 110,704 — 
Total available for sale debt securities$3,286,456 3,286,456 194,235 3,092,221 — 
Held to maturity debt securities, net of allowance for credit losses:
Government-agency obligations1,000 996 — 996 — 
State and municipal obligations264,654 257,717 — 257,717 — 
Corporate obligations570 568 — 568 — 
Total held to maturity debt securities, net of allowance for credit losses$266,224 259,281 — 259,281 — 
FHLBNY stock130,672 130,672 130,672 — — 
Equity securities20,108 20,108 20,108 — — 
Loans, net of allowance for credit losses19,866,574 19,818,268 — — 19,818,268 
Derivative assets116,674 116,674 — 116,674 — 
Financial liabilities:
Deposits other than certificates of deposits$16,101,666 16,101,666 16,101,666 — — 
Certificates of deposit3,443,503 3,442,820 — 3,442,820 — 
Total deposits$19,545,169 19,544,486 16,101,666 3,442,820 — 
Borrowings2,407,532 2,407,165 — 2,407,165 — 
Subordinated debentures409,065 437,180 — 437,180 — 
Derivative liabilities111,598 111,598 — 111,598 — 
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 obligations$266,744 266,744 266,744 — — 
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 obligations3,400 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 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 —