Disclosures about Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Disclosures about Fair Value of Assets and Liabilities

Schedule of fair value measurement of assets measured at fair value on recurring basis


		Fair Value Measurements Using
					Quoted Prices in			Significant
					Active Markets			Other			Significant
					for Identical			Observable			Unobservable
		Fair			Assets			Inputs			Inputs
Assets		Value			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
June 30, 2026
Mortgage loans in process of securitization		$	407,418		$	—		$	407,418		$	—
Securities available for sale:
Treasury notes			30,395			30,395			—			—
Federal Agencies			258,496			—			258,496			—
Mortgage-backed - Agency			3,538			—			3,538			—
Mortgage-backed - Non-Agency residential - fair value option			356,050			—			356,050			—
Mortgage-backed - Agency - fair value option			171,626			—			171,626			—
Loans held for sale			148,368			—			148,368			—
Loans receivable			46,024			—			46,024			—
Servicing rights			236,949			—			—			236,949
Derivative assets:
Interest rate lock commitments			505			—			—			505
Forward contracts			49			—			49			—
Interest rate swaps			3,003			—			3,003			—
Interest rate swaps, caps, and floors (back-to-back)			175			—			175			—
Put options			48,234			—			7,173			41,061
Interest rate floors			14,147			—			—			14,147
Credit default swap			2,149			—			—			2,149
Derivative liabilities:
Interest rate lock commitments			230			—			—			230
Forward contracts			685			—			685			—
Interest rate swaps, caps, and floors (back-to-back)			175			—			175			—


December 31, 2025
Mortgage loans in process of securitization		$	620,094		$	—		$	620,094		$	—
Securities available for sale:
Treasury notes			30,680			30,680			—			—
Federal Agencies			259,508			—			259,508			—
Mortgage-backed - Agency			3,556			—			3,556			—
Mortgage-backed - Non-Agency residential - fair value option			385,460			—			385,460			—
Mortgage-backed - Agency - fair value option			185,854			—			185,854			—
Loans held for sale			76,980			—			76,980			—
Loans receivable			47,318			—			47,318			—
Servicing rights			217,296			—			—			217,296
Derivative assets:
Interest rate lock commitments			227			—			—			227
Forward contracts			2			—			2			—
Interest rate swaps			2,354			—			2,354			—
Interest rate swaps, caps, and floors (back-to-back)			7,289			—			7,289			—
Put options			37,570			—			5,640			31,930
Interest rate floors			9,540			—			—			9,540
Derivative liabilities:
Interest rate lock commitments			107			—			—			107
Forward contracts			467			—			467			—
Interest rate swaps, caps, and floors (back-to-back)			7,289			—			7,289			—

Schedule of Level 3 reconciliation of recurring fair value measurements


		Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025

		(In thousands)						(In thousands)
Servicing rights
Balance, beginning of period		$	229,576		$	189,711		$	217,296		$	189,935
Purchased servicing			—			70			125			70
Originated servicing			4,010			5,244			9,759			8,582
Paydowns			(2,652)			(2,246)			(5,184)			(5,054)
Gain (loss) recognized			6,015			258			14,953			(496)
Balance, end of period		$	236,949		$	193,037		$	236,949		$	193,037

Derivative assets - put options
Balance, beginning of period		$	38,877		$	28,295		$	31,930		$	31,296
Gain (loss) recognized			2,184			7,915			9,131			4,914
Balance, end of period		$	41,061		$	36,210		$	41,061		$	36,210

Derivative assets - interest rate floors
Balance, beginning of period		$	12,236		$	1,785		$	9,540		$	4,043
Gain (loss) recognized			1,911			4,333			4,607			2,075
Balance, end of period		$	14,147		$	6,118		$	14,147		$	6,118

Derivative assets - credit defaults swaps
Balance, beginning of period		$	—		$	—		$	—		$	—
Gain (loss) recognized			2,149			—			2,149			—
Balance, end of period		$	2,149		$	—		$	2,149		$	—

Derivative liabilities - credit defaults swaps
Balance, beginning of period		$	(69)		$	—		$	—		$	—
Gain (loss) recognized			69			—			—			—
Balance, end of period		$	—		$	—		$	—		$	—

Derivative assets - interest rate lock commitments
Balance, beginning of period		$	142		$	126		$	227		$	30
Gain (loss) recognized			363			144			278			240
Balance, end of period		$	505		$	270		$	505		$	270

Derivative liabilities - interest rate lock commitments
Balance, beginning of period		$	(1,174)		$	(88)		$	(107)		$	(176)
Gain (loss) recognized			944			80			(123)			168
Balance, end of period		$	(230)		$	(8)		$	(230)		$	(8)

Schedule of fair value measurement of assets and liabilities measured at fair value on nonrecurring basis


		Fair Value Measurements Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
		Fair			Identical Assets			Inputs			Inputs
Assets		Value			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
June 30, 2026
Collateral dependent loans		$	52,897		$	—		$	—		$	52,897
Other real estate owned			4,297			—			—			4,297

December 31, 2025
Collateral dependent loans		$	143,771		$	—		$	—		$	143,771
Other real estate owned			60,145			—			—			60,145

Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill


					Valuation						Weighted
		Fair Value			Technique		Unobservable Inputs		Range		Average Rate

		(In thousands)
At June 30, 2026:
Collateral dependent loans		$	52,897		Market comparable properties		Marketability discount and costs to sell		5% - 67%		35%
Other real estate owned			4,297		Market comparable properties		Marketability discount and costs to sell		22% - 34%		32%
Servicing rights - Multi-family			178,754		Discounted cash flow		Discount rate		8% - 15%		9%
							Constant prepayment rate		0% - 100%		8%
							Earnings rate on escrows		4%		4%
Servicing rights - Single-family			37,084		Discounted cash flow		Discount rate		9% - 12%		9%
							Constant prepayment rate		3% - 100%		7%
Servicing rights - Healthcare			15,590		Discounted cash flow		Discount rate		10% - 13%		11%
							Constant prepayment rate		1% - 19%		5%
							Earnings rate on escrows		4%		4%
Servicing rights - SBA			5,521		Discounted cash flow		Discount rate		16%		16%
							Constant prepayment rate		11% - 32%		14%
Derivative assets:
Interest rate lock commitments			505		Discounted cash flow		Loan closing rates		48% - 100%		88%
Put options			41,061		Intrinsic value		Market credit spread		4%		4%
Interest rate floors			14,147		Discounted cash flow		Discount rate		5% - 8%		7%
Credit default swaps			2,149		Discounted cash flow		Corporate default rate		1% - 7%		7%
							Market credit spread		11%		11%
Derivative liabilities:
Interest rate lock commitments			230		Discounted cash flow		Loan closing rates		48% - 100%		88%

At December 31, 2025:
Collateral dependent loans		$	143,771		Market comparable properties		Marketability discount and costs to sell		12% - 70%		31%
Other real estate owned			60,145		Market comparable properties		Marketability discount and costs to sell		6% - 9%		9%
Servicing rights - Multi-family			164,224		Discounted cash flow		Discount rate		8% - 15%		9%
							Constant prepayment rate		0% - 100%		8%
							Earnings rate on escrows		3%		3%
Servicing rights - Single-family			33,151		Discounted cash flow		Discount rate		9% - 12%		9%
							Constant prepayment rate		3% - 53%		9%
Servicing rights - Healthcare			15,105		Discounted cash flow		Discount rate		8% - 13%		11%
							Constant prepayment rate		1% - 100%		7%
							Earnings rate on escrows		3%		3%
Servicing rights - SBA			4,816		Discounted cash flow		Discount rate		16%		16%
							Constant prepayment rate		10% - 31%		16%
Derivative assets:
Interest rate lock commitments			227		Discounted cash flow		Loan closing rates		45% - 99%		99%
Put options			31,930		Intrinsic value		Market credit spread		4%		4%
Interest rate floors			9,540		Discounted cash flow		Discount rate		5% - 7%		6%
Derivative liabilities - interest rate lock commitments			107		Discounted cash flow		Loan closing rates		45% - 99%		99%

Schedule of carrying amount and estimated fair value of financial instruments


					Fair Value Measurements Using
								Quoted Prices in			Significant
								Active Markets			Other			Significant
								for Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
		Value			Value			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
June 30, 2026
Financial assets:
Cash and cash equivalents		$	314,703		$	314,703		$	314,703		$	—		$	—
Securities purchased under agreements to resell			1,501			1,501			—			1,501			—
Securities held to maturity			1,354,885			1,353,543			—			640,257			713,286
FHLB stock and other equity securities			227,589			227,589			—			196,391			31,198
Loans held for sale			4,467,526			4,467,526			—			4,467,526			—
Loans receivable, net			12,216,776			12,229,537			—			—			12,229,537
Interest receivable			82,078			82,078			—			82,078			—
Financial liabilities:
Deposits			14,254,314			14,253,378			12,877,632			1,375,746			—
Subordinated debt			71,800			71,800			—			71,800			—
FHLB advances			4,202,863			4,202,822			—			4,202,822			—
Other borrowing			7,934			7,934			—			7,934			—
Interest payable			26,968			26,968			—			26,968			—

December 31, 2025
Financial assets:
Cash and cash equivalents		$	212,202		$	212,202		$	212,202		$	—		$	—
Securities purchased under agreements to resell			1,520			1,520			—			1,520			—
Securities held to maturity			1,543,659			1,543,554			—			712,490			831,064
FHLB stock and other equity securities			227,589			227,589			—			196,391			31,198
Loans held for sale			3,796,032			3,796,032			—			3,796,032			—
Loans receivable, net			10,904,063			10,950,634			—			—			10,950,634
Interest receivable			81,807			81,807			—			81,807			—
Financial liabilities:
Deposits			13,041,192			13,041,901			11,179,428			1,862,473			—
Subordinated debt			71,800			71,800			—			71,800			—
FHLB advances			3,762,858			3,762,110			—			3,762,110			—
Other borrowing			7,934			7,934			—			7,934			—
Interest payable			25,345			25,345			—			25,345			—

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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