0000846617-23-000084 | 10-Q | XBRL Viewer | Dime Community Bancshares INC NY

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Activity in accumulated other comprehensive (loss) income, net of tax, was as follows:


							Total
							Accumulated
			Defined				Other
			Benefit				Comprehensive
(In thousands)	Securities		Plans		Derivatives		Income (Loss)
Balance as of January 1, 2023	$	(100,870)	$	(5,266)	$	11,757	$	(94,379)
Other comprehensive (loss) income before reclassifications		(15,338)		952		(229)		(14,615)
Amounts reclassified from accumulated other comprehensive loss		2,666		(781)		196		2,081
Net other comprehensive (loss) income during the period		(12,672)		171		(33)		(12,534)
Balance as of September 30, 2023	$	(113,542)	$	(5,095)	$	11,724	$	(106,913)

Balance as of January 1, 2022	$	(7,864)	$	(1,306)	$	2,989	$	(6,181)
Other comprehensive (loss) income before reclassifications		(96,565)		2,051		9,972		(84,542)
Amounts reclassified from accumulated other comprehensive loss		—		(1,923)		(390)		(2,313)
Net other comprehensive (loss) income during the period		(96,565)		128		9,582		(86,855)
Balance as of September 30, 2022	$	(104,429)	$	(1,178)	$	12,571	$	(93,036)

The before and after tax amounts allocated to each component of other comprehensive (loss) income are presented in the table below for the periods indicated.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Change in unrealized gain (loss) on securities:
Change in net unrealized loss during the period	$	(4,374)	$	(39,692)	$	(17,967)	$	(142,980)
Reclassification adjustment for net losses included in net loss on sale of securities and other assets		—		—		1,447		—
Accretion of net unrealized loss on securities transferred to held-to-maturity		788		1,112		2,341		2,111
Net change		(3,586)		(38,580)		(14,179)		(140,869)
Tax benefit		(1,062)		(12,133)		(1,507)		(44,304)
Net change in unrealized loss on securities, net of reclassification adjustments and tax		(2,524)		(26,447)		(12,672)		(96,565)
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		(370)		(935)		(1,110)		(2,805)
Change in the net actuarial gain		518		997		1,553		2,992
Net change		148		62		443		187
Tax expense		185		20		272		59
Net change in pension and other postretirement obligations		(37)		42		171		128
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period		(246)		5,387		(771)		14,548
Reclassification adjustment for expense included in interest expense		293		(546)		279		(569)
Net change		47		4,841		(492)		13,979
Tax expense (benefit)		14		1,522		(459)		4,397
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax		33		3,319		(33)		9,582
Other comprehensive loss, net of tax	$	(2,528)	$	(23,086)	$	(12,534)	$	(86,855)

LEASES - Other information related to operating leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Other information related to operating leases:
Operating lease cost	$ 3,236	$ 3,336	$ 9,529	$ 9,869
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,171	$ 3,253	$ 9,330	$ 9,232
Weighted average remaining lease term	5 years 2 months 12 days		5 years 2 months 12 days		5 years 10 months 24 days
Weighted average discount rate	2.33%		2.33%		2.03%

SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Total	$ 0
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")
Fair Value
Less than 12 Consecutive Months	904	$ 50,813
12 Consecutive Months or Longer	205,299	190,427
Total	206,203	241,240
Unrealized Losses
Less than 12 Consecutive Months	12	2,010
12 Consecutive Months or Longer	33,294	29,524
Total	33,306	31,534
US Treasury Securities [Member]
Fair Value
12 Consecutive Months or Longer	229,873	227,256
Total	229,873	227,256
Unrealized Losses
12 Consecutive Months or Longer	16,262	19,643
Total	16,262	19,643
State and municipal obligations
Fair Value
Less than 12 Consecutive Months	1,713	10,848
12 Consecutive Months or Longer	26,218	22,681
Total	27,931	33,529
Unrealized Losses
Less than 12 Consecutive Months	137	174
12 Consecutive Months or Longer	2,777	2,847
Total	2,914	3,021
US Government Agencies Debt Securities [Member]
Fair Value
12 Consecutive Months or Longer	9,143
Total	9,143
Unrealized Losses
12 Consecutive Months or Longer	857
Total	857
Corporate Notes
Fair Value
Less than 12 Consecutive Months	19,118	110,707
12 Consecutive Months or Longer	121,969	50,116
Total	141,087	160,823
Unrealized Losses
Less than 12 Consecutive Months	2,248	8,494
12 Consecutive Months or Longer	26,214	8,581
Total	28,462	17,075
Agency collateralized mortgage obligations ("CMOs")
Fair Value
Less than 12 Consecutive Months	2,427	55,924
12 Consecutive Months or Longer	248,193	220,413
Total	250,620	276,337
Unrealized Losses
Less than 12 Consecutive Months	41	3,454
12 Consecutive Months or Longer	55,970	46,603
Total	$ 56,011	$ 50,057

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive (loss) income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated other comprehensive (loss) income, net of tax:
Balance	$ 1,202,503	$ 1,191,253	$ 1,169,583	$ 1,140,522	$ 1,155,287	$ 1,192,620	$ 1,169,583	$ 1,192,620
Total other comprehensive loss, net of tax	(2,528)	(5,747)	(4,259)	(23,086)	(20,570)	(43,199)	(12,534)	(86,855)
Balance	1,204,344	1,202,503	1,191,253	1,140,791	1,140,522	1,155,287	1,204,344	1,140,791
Accumulated Other Comprehensive Loss, Net of Deferred Taxes
Accumulated other comprehensive (loss) income, net of tax:
Balance	(104,385)	(98,638)	(94,379)	(69,950)	(49,380)	(6,181)	(94,379)	(6,181)
Other comprehensive (loss) income before reclassifications							(14,615)	(84,542)
Amounts reclassified from accumulated other comprehensive loss							2,081	(2,313)
Total other comprehensive loss, net of tax	(2,528)	(5,747)	(4,259)	(23,086)	(20,570)	(43,199)	(12,534)	(86,855)
Balance	(106,913)	$ (104,385)	(98,638)	(93,036)	$ (69,950)	(49,380)	(106,913)	(93,036)
Securities
Accumulated other comprehensive (loss) income, net of tax:
Balance			(100,870)			(7,864)	(100,870)	(7,864)
Other comprehensive (loss) income before reclassifications							(15,338)	(96,565)
Amounts reclassified from accumulated other comprehensive loss							2,666
Total other comprehensive loss, net of tax							(12,672)	(96,565)
Balance	(113,542)			(104,429)			(113,542)	(104,429)
Defined Benefit Plans
Accumulated other comprehensive (loss) income, net of tax:
Balance			(5,266)			(1,306)	(5,266)	(1,306)
Other comprehensive (loss) income before reclassifications							952	2,051
Amounts reclassified from accumulated other comprehensive loss							(781)	(1,923)
Total other comprehensive loss, net of tax							171	128
Balance	(5,095)			(1,178)			(5,095)	(1,178)
Derivatives
Accumulated other comprehensive (loss) income, net of tax:
Balance			$ 11,757			$ 2,989	11,757	2,989
Other comprehensive (loss) income before reclassifications							(229)	9,972
Amounts reclassified from accumulated other comprehensive loss							196	(390)
Total other comprehensive loss, net of tax							(33)	9,582
Balance	$ 11,724			$ 12,571			$ 11,724	$ 12,571

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

PREFERRED STOCK

9 Months Ended

Sep. 30, 2023

PREFERRED STOCK.

PREFERRED STOCK

5.PREFERRED STOCK

On February 5, 2020, Legacy Dime completed an underwritten public offering of 2,999,200 shares, or $75.0 million in aggregate liquidation preference, of its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share, with a liquidation preference of $25.00 per share (the “Legacy Dime Preferred Stock”). The net proceeds received from the issuance of preferred stock at the time of closing were $72.2 million. On June 10, 2020, Legacy Dime completed an underwritten public offering, a reopening of its February 5, 2020, original issuance, of 2,300,000 shares, or $57.5 million in aggregate liquidation preference, of the Legacy Dime Preferred Stock. The net proceeds received from the issuance of preferred stock at the time of closing were $44.3 million.

At the Effective Time of the Merger, each outstanding share of the Legacy Dime Preferred Stock was converted into the right to receive one share of a newly created series of the Company’s preferred stock having the same powers, preferences and rights as the Legacy Dime Preferred Stock.

The Company expects to pay dividends when, as, and if declared by its board of directors, at a fixed rate of 5.50% per annum, payable quarterly, in arrears, on February 15, May 15, August 15 and November 15 of each year. The preferred stock is perpetual and has no stated maturity. The Company may redeem the preferred stock at its option at a redemption price equal to $25.00 per share, plus any declared and unpaid dividends (without regard to any undeclared dividends), subject to regulatory approval, on or after June 15, 2025, or within 90 days following a regulatory capital treatment event, as described in the prospectus supplement and accompanying prospectus relating to the offering.

LOANS HELD FOR INVESTMENT, NET - Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	$ 10,850,611		$ 10,850,611		$ 10,566,831
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
YTD Gross Charge-Offs 2022/2021					477
YTD Gross Charge-Offs 2021/2020			77		4,720
YTD Gross Charge-Offs 2020/2019			38		2,088
YTD Gross Charge-Offs 2019/2018			4,166
YTD Gross Charge-Offs 2018 and Prior/2017 and Prior			2,231		2,414
YTD Gross Charge-Offs Revolving			1,021		1,460
YTD Gross Charge-Offs Revolving-Term			3,404		242
YTD Gross Charge-Offs			10,937		11,401
Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	808,171		808,171
2022/2021	2,793,493		2,793,493		2,845,428
2021/2020	1,640,908		1,640,908		1,733,872
2020/2019	1,009,045		1,009,045		1,196,053
2019/2018	986,544		986,544		1,024,753
2018/2017 and Prior	2,401,398		2,401,398		522,005
2016 and Prior					2,175,148
Revolving	721,788		721,788		726,712
Revolving-Term	64,405		64,405		59,849
Total Loans	10,425,752		10,425,752		10,283,820
Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	506		506
2022/2021	3,184		3,184		6,634
2021/2020	20,459		20,459
2020/2019	101,118		101,118		20,549
2019/2018	13,340		13,340		17,364
2018/2017 and Prior	59,530		59,530		16,628
2016 and Prior					31,664
Revolving	23,121		23,121		9,641
Revolving-Term	9,835		9,835		1,204
Total Loans	231,093		231,093		103,684
Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	1		1
2022/2021	1,950		1,950		5,242
2021/2020	3,118		3,118		2,052
2020/2019	44,251		44,251		23,233
2019/2018	15,349		15,349		19,143
2018/2017 and Prior	100,553		100,553		22,819
2016 and Prior					66,232
Revolving	8,290		8,290		11,290
Revolving-Term	9,072		9,072		10,505
Total Loans	182,584		182,584		160,516
Doubtful
Credit Risk Profile of Real Estate Loans [Abstract]
2019/2018	4,166		4,166		8,332
2018/2017 and Prior	749		749		752
2016 and Prior					2,048
Total Loans	4,915		4,915		11,132
Excludes Other Loans
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	808,678		808,678
2022/2021	2,798,627		2,798,627		2,857,304
2021/2020	1,664,485		1,664,485		1,735,924
2020/2019	1,154,414		1,154,414		1,239,835
2019/2018	1,019,399		1,019,399		1,069,592
2018/2017 and Prior	2,562,230		2,562,230		562,204
2016 and Prior					2,275,092
Revolving	753,199		753,199		747,643
Revolving-Term	83,312		83,312		71,558
Total Loans	10,844,344		10,844,344		10,559,152
Business loans
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	198,338		198,338
2022/2021	433,722		433,722		461,575
2021/2020	203,331		203,331		229,523
2020/2019	175,594		175,594		197,259
2019/2018	170,837		170,837		188,094
2018/2017 and Prior	361,288		361,288		149,322
2016 and Prior					261,330
Revolving	672,232		672,232		671,312
Revolving-Term	56,426		56,426		53,442
Total Loans	2,271,768		2,271,768		2,211,857
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
YTD Gross Charge-Offs 2022/2021					477
YTD Gross Charge-Offs 2021/2020			77		4,720
YTD Gross Charge-Offs 2020/2019			38		2,088
YTD Gross Charge-Offs 2019/2018			4,166
YTD Gross Charge-Offs 2018 and Prior/2017 and Prior			2,229		2,414
YTD Gross Charge-Offs Revolving			1,021		1,460
YTD Gross Charge-Offs Revolving-Term			3,390		242
YTD Gross Charge-Offs	5,147	$ 5,462	10,921	$ 8,742	11,401
Business loans \| Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	197,831		197,831
2022/2021	428,588		428,588		449,699
2021/2020	199,606		199,606		228,143
2020/2019	167,826		167,826		187,522
2019/2018	159,084		159,084		173,527
2018/2017 and Prior	316,910		316,910		130,576
2016 and Prior					240,131
Revolving	640,980		640,980		650,960
Revolving-Term	39,015		39,015		43,552
Total Loans	2,149,840		2,149,840		2,104,110
Business loans \| Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	506		506
2022/2021	3,184		3,184		6,634
2021/2020	1,279		1,279
2020/2019	923		923		894
2019/2018	4,850		4,850		1,529
2018/2017 and Prior	13,541		13,541		15,893
2016 and Prior					4,213
Revolving	22,962		22,962		9,062
Revolving-Term	9,125		9,125		478
Total Loans	56,370		56,370		38,703
Business loans \| Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	1		1
2022/2021	1,950		1,950		5,242
2021/2020	2,446		2,446		1,380
2020/2019	6,845		6,845		8,843
2019/2018	2,737		2,737		4,706
2018/2017 and Prior	30,088		30,088		2,101
2016 and Prior					14,938
Revolving	8,290		8,290		11,290
Revolving-Term	8,286		8,286		9,412
Total Loans	60,643		60,643		57,912
Business loans \| Doubtful
Credit Risk Profile of Real Estate Loans [Abstract]
2019/2018	4,166		4,166		8,332
2018/2017 and Prior	749		749		752
2016 and Prior					2,048
Total Loans	4,915		4,915		11,132
One-to-four family residential and cooperative/condominium apartment
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	161,750		161,750
2022/2021	217,184		217,184		225,031
2021/2020	103,310		103,310		108,185
2020/2019	70,929		70,929		73,758
2019/2018	64,517		64,517		66,742
2018/2017 and Prior	227,440		227,440		67,180
2016 and Prior					176,292
Revolving	33,418		33,418		41,751
Revolving-Term	14,321		14,321		14,382
Total Loans	892,869		892,869		773,321
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
YTD Gross Charge-Offs Revolving-Term			14
YTD Gross Charge-Offs			14
One-to-four family residential and cooperative/condominium apartment \| Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	161,750		161,750
2022/2021	217,184		217,184		225,031
2021/2020	103,310		103,310		108,185
2020/2019	69,919		69,919		72,732
2019/2018	63,299		63,299		65,515
2018/2017 and Prior	215,385		215,385		66,038
2016 and Prior					164,338
Revolving	33,259		33,259		41,172
Revolving-Term	12,825		12,825		12,563
Total Loans	876,931		876,931		755,574
One-to-four family residential and cooperative/condominium apartment \| Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2018/2017 and Prior	756		756		735
2016 and Prior					1,175
Revolving	159		159		579
Revolving-Term	710		710		726
Total Loans	1,625		1,625		3,215
One-to-four family residential and cooperative/condominium apartment \| Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2020/2019	1,010		1,010		1,026
2019/2018	1,218		1,218		1,227
2018/2017 and Prior	11,299		11,299		407
2016 and Prior					10,779
Revolving-Term	786		786		1,093
Total Loans	14,313		14,313		14,532
Multifamily residential and residential mixed-use
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	244,041		244,041
2022/2021	1,367,753		1,367,753		1,386,549
2021/2020	593,271		593,271		582,393
2020/2019	318,024		318,024		328,718
2019/2018	398,615		398,615		414,117
2018/2017 and Prior	1,163,265		1,163,265		147,385
2016 and Prior					1,155,080
Revolving	12,715		12,715		12,584
Revolving-Term	4,340		4,340
Total Loans	4,102,024		4,102,024		4,026,826
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
YTD Gross Charge-Offs 2018 and Prior/2017 and Prior			2
YTD Gross Charge-Offs	2		2
Multifamily residential and residential mixed-use \| Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	244,041		244,041
2022/2021	1,367,753		1,367,753		1,386,549
2021/2020	589,048		589,048		582,393
2020/2019	285,272		285,272		316,424
2019/2018	389,601		389,601		395,933
2018/2017 and Prior	1,086,015		1,086,015		127,074
2016 and Prior					1,107,281
Revolving	12,715		12,715		12,584
Revolving-Term	4,340		4,340
Total Loans	3,978,785		3,978,785		3,928,238
Multifamily residential and residential mixed-use \| Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2021/2020	4,223		4,223
2020/2019	22,096		22,096
2019/2018	3,905		3,905		11,183
2018/2017 and Prior	30,476		30,476
2016 and Prior					14,168
Total Loans	60,700		60,700		25,351
Multifamily residential and residential mixed-use \| Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2020/2019	10,656		10,656		12,294
2019/2018	5,109		5,109		7,001
2018/2017 and Prior	46,774		46,774		20,311
2016 and Prior					33,631
Total Loans	62,539		62,539		73,237
Non-owner-occupied commercial real estate
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	196,881		196,881
2022/2021	728,514		728,514		747,272
2021/2020	667,914		667,914		662,623
2020/2019	582,220		582,220		628,858
2019/2018	369,786		369,786		384,696
2018/2017 and Prior	809,742		809,742		198,317
2016 and Prior					680,303
Revolving	11,237		11,237		11,963
Revolving-Term	7,987		7,987		3,453
Total Loans	3,374,281		3,374,281		3,317,485
Non-owner-occupied commercial real estate \| Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	196,881		196,881
2022/2021	728,514		728,514		747,272
2021/2020	667,899		667,899		662,608
2020/2019	478,381		478,381		608,133
2019/2018	358,916		358,916		373,835
2018/2017 and Prior	782,593		782,593		198,317
2016 and Prior					661,311
Revolving	11,237		11,237		11,963
Revolving-Term	7,987		7,987		3,453
Total Loans	3,232,408		3,232,408		3,266,892
Non-owner-occupied commercial real estate \| Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2020/2019	78,099		78,099		19,655
2019/2018	4,585		4,585		4,652
2018/2017 and Prior	14,757		14,757
2016 and Prior					12,108
Total Loans	97,441		97,441		36,415
Non-owner-occupied commercial real estate \| Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2021/2020	15		15		15
2020/2019	25,740		25,740		1,070
2019/2018	6,285		6,285		6,209
2018/2017 and Prior	12,392		12,392
2016 and Prior					6,884
Total Loans	44,432		44,432		14,178
Non-owner-occupied commercial real estate \| Total real estate loans
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	3,374,281		3,374,281		3,317,485
Acquisition, development, and construction ("ADC")
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	7,668		7,668
2022/2021	51,454		51,454		36,877
2021/2020	96,659		96,659		153,200
2020/2019	7,647		7,647		11,242
2019/2018	15,644		15,644		15,943
2018/2017 and Prior	495		495
2016 and Prior					2,087
Revolving	23,597		23,597		10,033
Revolving-Term	238		238		281
Total Loans	203,402		203,402		229,663
Acquisition, development, and construction ("ADC") \| Pass
Credit Risk Profile of Real Estate Loans [Abstract]
2023/2022	7,668		7,668
2022/2021	51,454		51,454		36,877
2021/2020	81,045		81,045		152,543
2020/2019	7,647		7,647		11,242
2019/2018	15,644		15,644		15,943
2018/2017 and Prior	495		495
2016 and Prior					2,087
Revolving	23,597		23,597		10,033
Revolving-Term	238		238		281
Total Loans	187,788		187,788		229,006
Acquisition, development, and construction ("ADC") \| Special Mention
Credit Risk Profile of Real Estate Loans [Abstract]
2021/2020	14,957		14,957
Total Loans	14,957		14,957
Acquisition, development, and construction ("ADC") \| Substandard
Credit Risk Profile of Real Estate Loans [Abstract]
2021/2020	657		657		657
Total Loans	657		657		657
Other Loans
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	6,267		6,267		7,679
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
YTD Gross Charge-Offs	26	$ 49	60	$ 52
Other Loans \| Credit Risk Profile
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	6,267		6,267		7,679
Other Loans \| Performing \| Credit Risk Profile
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	6,048		6,048		7,580
Other Loans \| Non-Accrual \| Credit Risk Profile
Credit Risk Profile of Real Estate Loans [Abstract]
Total Loans	$ 219		$ 219		$ 99

SUMMARY OF ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2023

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES

2.SUMMARY OF ACCOUNTING POLICIES

Summary of Significant Accounting Policies

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair presentation of the Company’s financial condition as of September 30, 2023 and December 31, 2022, the results of operations and statements of comprehensive income for the three and nine months ended September 30, 2023 and 2022, the changes in stockholders’ equity for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022.

Please see "Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited condensed consolidated financial statements utilizing significant estimates.

Adoption of Recent Accounting Standards

ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method

On March 28, 2022, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method. The purpose of this updated guidance is to further align risk management objectives with hedge accounting results on the application of the last-of-layer method, which was first introduced in ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2022-01 became effective for public business entities for fiscal years beginning after December 15, 2022, with early adoption in the interim period, permitted. For entities who have already adopted ASU 2017-12, immediate adoption is allowed. This ASU became effective for the Company on January 1, 2023, on a prospective basis; therefore, there was no impact to the consolidated financial statements.

ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures

ASU 2022-02 eliminates troubled debt restructuring (“TDR”) recognition and measurement guidance and, instead, requires that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. ASU 2022-02 enhances existing disclosure requirements and introduces new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. For entities that have adopted the amendments of ASU 2016-13, the amendments in ASU 2022-02 are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This ASU became effective for the Company on January 1, 2023. The Company adopted ASU 2022-02 on its effective date using the modified retrospective method. The adoption of ASU 2022-02 did not have a material impact on the Company's consolidated financial statements.

ASU 2020-04, Reference Rate Reform (Topic 848)

ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. ASU 2020-04 also provides numerous optional expedients for derivative accounting. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. Once optional expedients are elected, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic within the Codification. As of July 1, 2023, the Company has transitioned LIBOR based transactions to other indexes. The LIBOR transition is not anticipated to have a material effect on the Company's consolidated financial statements.

ASU 2021-01, Reference Rate Reform (Topic 848): Scope

ASU 2021-01 clarifies that all derivative instruments affected by changes to the interest rates used for discounting, margining, or contract price alignment due to reference rate reform are in the scope of ASC 848. Entities may apply certain optional expedients in ASC 848 to derivative instruments that do not reference LIBOR or another rate expected to be discontinued as a result of reference rate reform if there is a change to the interest rate used for discounting, margining or contract price alignment. ASU 2021-01 became effective upon issuance and generally can be applied through December 31, 2022. As of July 1, 2023, the Company has transitioned LIBOR based derivatives to other indexes such as fallback rate SOFR. The LIBOR transition is not anticipated to have a material effect on the Company's consolidated financial statements.

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Net income available to common stockholders	$ 13,163	$ 37,659	$ 74,321	$ 107,032
Less: Dividends paid and earnings allocated to participating securities	(209)	(438)	(1,015)	(1,244)
Income attributable to common stock	$ 12,954	$ 37,221	$ 73,306	$ 105,788
Weighted-average common shares outstanding, including participating securities (in shares)	38,821,541	38,614,436	38,732,963	39,125,192
Less: weighted-average participating securities (in shares)	(617,580)	(448,755)	(555,259)	(446,298)
Weighted-average common shares outstanding (in shares)	38,203,961	38,165,681	38,177,704	38,678,894
Basic EPS (in dollars per share)	$ 0.34	$ 0.98	$ 1.92	$ 2.74
Weighted-average common shares outstanding (in shares)	38,203,961	38,165,681	38,177,704	38,678,894
Weighted-average common and equivalent shares outstanding (in shares)	38,203,961	38,165,681	38,177,704	38,678,894
Diluted EPS (in dollars per share)	$ 0.34	$ 0.98	$ 1.92	$ 2.74
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Weighted average shares excluded from earnings per share calculation (in shares)	92,137	102,581	92,137	114,961

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Deferred Taxes	Unearned Equity Awards	Treasury Stock, at Cost	Total
Balance at Dec. 31, 2021	$ 116,569	$ 416	$ 494,125	$ 654,726	$ (6,181)	$ (7,842)		$ 1,192,620
Balance (in shares) at Dec. 31, 2021		39,877,833
Treasury Stock, at cost, beginning balance at Dec. 31, 2021							$ (59,193)
Increase (Decrease) in Stockholders' Equity
Net income				34,531				34,531
Other comprehensive loss, net of tax					(43,199)			(43,199)
Release of shares, net of forfeitures			844			(3,939)	3,284	189
Release of shares, net of forfeitures (in shares)		127,812
Stock-based compensation						1,219		1,219
Shares received related to tax withholding							(1,414)	(1,414)
Shares received related to tax withholding (in shares)		(40,731)
Cash dividends declared and paid to preferred stockholders				(1,821)				(1,821)
Cash dividends declared and paid to common stockholders				(9,446)				(9,446)
Purchase of treasury stock							(17,392)	(17,392)
Purchase of treasury stock (in shares)		(505,005)
Balance at Mar. 31, 2022	116,569	$ 416	494,969	677,990	(49,380)	(10,562)		1,155,287
Balance (in shares) at Mar. 31, 2022		39,459,909
Treasury Stock, at cost, ending balance at Mar. 31, 2022							(74,715)
Balance at Dec. 31, 2021	116,569	$ 416	494,125	654,726	(6,181)	(7,842)		1,192,620
Balance (in shares) at Dec. 31, 2021		39,877,833
Treasury Stock, at cost, beginning balance at Dec. 31, 2021							(59,193)
Increase (Decrease) in Stockholders' Equity
Net income								112,497
Other comprehensive loss, net of tax					(86,855)			(86,855)
Balance at Sep. 30, 2022	116,569	$ 416	495,232	733,783	(93,036)	(9,177)		1,140,791
Balance (in shares) at Sep. 30, 2022		38,571,572
Treasury Stock, at cost, ending balance at Sep. 30, 2022							(102,996)
Balance at Mar. 31, 2022	116,569	$ 416	494,969	677,990	(49,380)	(10,562)		1,155,287
Balance (in shares) at Mar. 31, 2022		39,459,909
Treasury Stock, at cost, beginning balance at Mar. 31, 2022							(74,715)
Increase (Decrease) in Stockholders' Equity
Net income				38,485				38,485
Other comprehensive loss, net of tax					(20,570)			(20,570)
Release of shares, net of forfeitures			297			(644)	726	379
Release of shares, net of forfeitures (in shares)		27,125
Stock-based compensation						946		946
Shares received related to tax withholding							(1)	(1)
Shares received related to tax withholding (in shares)		(37)
Cash dividends declared and paid to preferred stockholders				(1,822)				(1,822)
Cash dividends declared and paid to common stockholders				(9,282)				(9,282)
Purchase of treasury stock							(22,900)	(22,900)
Purchase of treasury stock (in shares)		(717,644)
Balance at Jun. 30, 2022	116,569	$ 416	495,266	705,371	(69,950)	(10,260)		1,140,522
Balance (in shares) at Jun. 30, 2022		38,769,353
Treasury Stock, at cost, ending balance at Jun. 30, 2022							(96,890)
Increase (Decrease) in Stockholders' Equity
Net income				39,481				39,481
Other comprehensive loss, net of tax					(23,086)			(23,086)
Release of shares, net of forfeitures			(33)			20	241	228
Release of shares, net of forfeitures (in shares)		7,227
Stock-based compensation						1,063		1,063
Shares received related to tax withholding			(1)				(141)	(142)
Shares received related to tax withholding (in shares)		(4,662)
Cash dividends declared and paid to preferred stockholders				(1,822)				(1,822)
Cash dividends declared and paid to common stockholders				(9,247)				(9,247)
Purchase of treasury stock							(6,206)	(6,206)
Purchase of treasury stock (in shares)		(200,346)
Balance at Sep. 30, 2022	116,569	$ 416	495,232	733,783	(93,036)	(9,177)		1,140,791
Balance (in shares) at Sep. 30, 2022		38,571,572
Treasury Stock, at cost, ending balance at Sep. 30, 2022							(102,996)
Balance at Dec. 31, 2022	116,569	$ 416	495,410	762,762	(94,379)	(8,078)		$ 1,169,583
Balance (in shares) at Dec. 31, 2022		38,573,000						38,573,000
Treasury Stock, at cost, beginning balance at Dec. 31, 2022							(103,117)	$ (103,117)
Increase (Decrease) in Stockholders' Equity
Net income				37,303				37,303
Other comprehensive loss, net of tax					(4,259)			(4,259)
Release of shares, net of forfeitures			(1,608)			(6,692)	8,507	207
Release of shares, net of forfeitures (in shares)		293,106
Stock-based compensation						1,302		1,302
Shares received related to tax withholding			(1)				(1,112)	(1,113)
Shares received related to tax withholding (in shares)		(36,932)
Cash dividends declared and paid to preferred stockholders				(1,821)				(1,821)
Cash dividends declared and paid to common stockholders				(9,234)				(9,234)
Purchase of treasury stock							(715)	(715)
Purchase of treasury stock (in shares)		(24,813)
Balance at Mar. 31, 2023	116,569	$ 416	493,801	789,010	(98,638)	(13,468)		1,191,253
Balance (in shares) at Mar. 31, 2023		38,804,361
Treasury Stock, at cost, ending balance at Mar. 31, 2023							(96,437)
Balance at Dec. 31, 2022	116,569	$ 416	495,410	762,762	(94,379)	(8,078)		$ 1,169,583
Balance (in shares) at Dec. 31, 2022		38,573,000						38,573,000
Treasury Stock, at cost, beginning balance at Dec. 31, 2022							(103,117)	$ (103,117)
Increase (Decrease) in Stockholders' Equity
Net income								79,786
Other comprehensive loss, net of tax					(12,534)			(12,534)
Balance at Sep. 30, 2023	116,569	$ 416	494,470	808,235	(106,913)	(10,170)		$ 1,204,344
Balance (in shares) at Sep. 30, 2023		38,810,546						38,810,546
Treasury Stock, at cost, ending balance at Sep. 30, 2023							(98,263)	$ (98,263)
Balance at Mar. 31, 2023	116,569	$ 416	493,801	789,010	(98,638)	(13,468)		1,191,253
Balance (in shares) at Mar. 31, 2023		38,804,361
Treasury Stock, at cost, beginning balance at Mar. 31, 2023							(96,437)
Increase (Decrease) in Stockholders' Equity
Net income				27,498				27,498
Other comprehensive loss, net of tax					(5,747)			(5,747)
Release of shares, net of forfeitures			154			364	(123)	395
Release of shares, net of forfeitures (in shares)		13,262
Stock-based compensation						1,358		1,358
Shares received related to tax withholding							(46)	(46)
Shares received related to tax withholding (in shares)		(2,504)
Cash dividends declared and paid to preferred stockholders				(1,822)				(1,822)
Cash dividends declared and paid to common stockholders				(10,154)				(10,154)
Purchase of treasury stock							(232)	(232)
Purchase of treasury stock (in shares)		(12,000)
Balance at Jun. 30, 2023	116,569	$ 416	493,955	804,532	(104,385)	(11,746)		1,202,503
Balance (in shares) at Jun. 30, 2023		38,803,119
Treasury Stock, at cost, ending balance at Jun. 30, 2023							(96,838)
Increase (Decrease) in Stockholders' Equity
Net income				14,985				14,985
Other comprehensive loss, net of tax					(2,528)			(2,528)
Release of shares, net of forfeitures			515			1,038	(1,332)	221
Release of shares, net of forfeitures (in shares)		12,598
Stock-based compensation						538		538
Shares received related to tax withholding							(93)	(93)
Shares received related to tax withholding (in shares)		(5,171)
Cash dividends declared and paid to preferred stockholders				(1,822)				(1,822)
Cash dividends declared and paid to common stockholders				(9,460)				(9,460)
Balance at Sep. 30, 2023	$ 116,569	$ 416	$ 494,470	$ 808,235	$ (106,913)	$ (10,170)		$ 1,204,344
Balance (in shares) at Sep. 30, 2023		38,810,546						38,810,546
Treasury Stock, at cost, ending balance at Sep. 30, 2023							$ (98,263)	$ (98,263)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial Assets [Abstract]
Securities held-to-maturity	$ 495,986	$ 505,759
Carrying Amount
Financial Assets [Abstract]
Cash and due from banks	358,824	169,297
Securities held-to-maturity	600,291	585,798
Loans held for investment, net	10,777,696	10,482,145
Accrued interest receivable	53,608	48,561
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,194,247	9,139,043
Certificates of Deposits ("CDs")	1,442,299	1,115,364
FHLBNY Advances	1,123,000	1,131,000
Subordinated debt, net	200,218	200,283
Other short-term borrowings		1,360
Accrued interest payable	19,948	5,323
Fair Value
Financial Assets [Abstract]
Cash and due from banks	358,824	169,297
Securities held-to-maturity	495,986	505,759
Loans held for investment, net	10,255,764	10,005,121
Accrued interest receivable	53,608	48,561
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,194,247	9,139,043
Certificates of Deposits ("CDs")	1,433,548	1,096,808
FHLBNY Advances	1,119,564	1,131,217
Subordinated debt, net	162,218	180,583
Other short-term borrowings		1,360
Accrued interest payable	19,948	5,323
Level 1 Inputs \| Fair Value
Financial Assets [Abstract]
Cash and due from banks	358,824	169,297
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,194,247	9,139,043
Other short-term borrowings		1,360
Level 2 Inputs \| Fair Value
Financial Assets [Abstract]
Securities held-to-maturity	495,986	505,759
Accrued interest receivable	5,525	6,105
Financial Liabilities [Abstract]
Certificates of Deposits ("CDs")	1,433,548	1,096,808
FHLBNY Advances	1,119,564	1,131,217
Subordinated debt, net	162,218	180,583
Accrued interest payable	19,948	5,323
Level 3 Inputs \| Fair Value
Financial Assets [Abstract]
Loans held for investment, net	10,255,764	10,005,121
Accrued interest receivable	$ 48,083	$ 42,456

LOANS HELD FOR INVESTMENT, NET - Loans by Category Modified as TDRs (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) item	Sep. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($) loan	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	$ 72,563,000	$ 72,563,000	$ 83,507,000
Number of Loans	0	0	12
Pre-Modification Outstanding Recorded Investment			$ 37,463,000
Post-Modification Outstanding Recorded Investment			37,467,000
TDRs
Financing Receivable, Allowance for Credit Loss [Line Items]
Commitments to lend any additional funds on restructured loans			0
Modifications recorded investment			22,100,000
Allowance for credit losses			9,100,000
Business loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	$ 36,680,000	$ 36,680,000	$ 47,029,000	$ 39,700,000	$ 44,492,000	$ 45,128,000	$ 62,366,000
Number of Loans \| loan			7
Pre-Modification Outstanding Recorded Investment			$ 21,934,000
Post-Modification Outstanding Recorded Investment			21,938,000
One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	7,206,000	7,206,000	$ 5,969,000	6,419,000	5,058,000	4,514,000	5,932,000
Number of Loans \| loan			2
Pre-Modification Outstanding Recorded Investment			$ 762,000
Post-Modification Outstanding Recorded Investment			762,000
Non-owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	18,430,000	18,430,000	$ 20,153,000	18,440,000	20,507,000	18,707,000	2,131,000
Number of Loans \| loan			1
Pre-Modification Outstanding Recorded Investment			$ 991,000
Post-Modification Outstanding Recorded Investment			$ 991,000
Acquisition, development, and construction ("ADC")
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	2,338,000	2,338,000		2,558,000	3,619,000	3,788,000
Number of Loans \| loan			1
Pre-Modification Outstanding Recorded Investment			$ 13,500,000
Post-Modification Outstanding Recorded Investment			13,500,000
Other Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	$ 342,000	$ 342,000	$ 273,000	$ 339,000	$ 205,000	$ 286,000	$ 751,000
Number of Loans \| loan			1
Pre-Modification Outstanding Recorded Investment			$ 276,000
Post-Modification Outstanding Recorded Investment			$ 276,000

EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

4.EARNINGS PER COMMON SHARE

Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding during the reporting period. Diluted EPS is computed using the same method as basic EPS, but reflects the potential dilution that would occur if "in the money" stock options were exercised and converted into common stock. In determining the weighted-average shares outstanding for basic and diluted EPS, treasury shares are excluded. Vested restricted stock award (“RSA”) shares are included in the calculation of the weighted-average shares outstanding for basic and diluted EPS. Unvested RSA and performance-based share awards (“PSA”) shares not yet awarded are recognized as a special class of participating securities under ASC 260, and are included in the calculation of the weighted-average shares outstanding for basic and diluted EPS.

The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands except share and per share amounts)	2023		2022		2023		2022
Net income available to common stockholders	$	13,163	$	37,659	$	74,321	$	107,032
Less: Dividends paid and earnings allocated to participating securities		(209)		(438)		(1,015)		(1,244)
Income attributable to common stock	$	12,954	$	37,221	$	73,306	$	105,788
Weighted-average common shares outstanding, including participating securities		38,821,541		38,614,436		38,732,963		39,125,192
Less: weighted-average participating securities		(617,580)		(448,755)		(555,259)		(446,298)
Weighted-average common shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Basic EPS	$	0.34	$	0.98	$	1.92	$	2.74

Income attributable to common stock	$	12,954	$	37,221	$	73,306	$	105,788
Weighted-average common shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Weighted-average common equivalent shares outstanding		—		—		—		—
Weighted-average common and equivalent shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Diluted EPS	$	0.34	$	0.98	$	1.92	$	2.74

Common and equivalent shares resulting from the dilutive effect of "in-the-money" outstanding stock options are calculated based upon the excess of the average market value of the common stock over the exercise price of outstanding in-the-money stock options during the period.

There were 92,137 weighted-average stock options outstanding for the three and nine months ended September 30, 2023, which were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period. There were 102,581 and 114,961 weighted-average stock options outstanding for the three and nine months ended September 30, 2022, which were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period.

SECURITIES

9 Months Ended

Sep. 30, 2023

SECURITIES

SECURITIES

6.SECURITIES

The following tables summarize the major categories of securities as of the dates indicated:

September 30, 2023

Gross

Amortized

Unrealized

Fair

(In thousands)

Cost

Gains

Losses

Value

Securities available-for-sale:

Agency notes

10,000

—

(857)

9,143

Treasury securities

246,135

—

(16,262)

229,873

Corporate securities

169,549

—

(28,462)

141,087

Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")

239,509

—

(33,306)

206,203

Agency collateralized mortgage obligations ("CMOs")

311,632

(56,011)

255,642

State and municipal obligations

30,845

—

(2,914)

27,931

Total securities available-for-sale

1,007,670

(137,812)

869,879

September 30, 2023

Gross

Amortized

Unrecognized

Fair

(In thousands)

Cost

Gains

Losses

Value

Securities held-to-maturity:

Agency notes

89,461

—

(15,305)

74,156

Corporate securities

9,000

—

(1,945)

7,055

Pass-through MBS issued by GSEs

283,258

—

(53,777)

229,481

Agency CMOs

218,572

—

(33,278)

185,294

Total securities held-to-maturity

600,291

—

(104,305)

495,986


	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Treasury securities	$	246,899	$	—	$	(19,643)	$	227,256
Corporate securities		183,791		57		(17,075)		166,773
Pass-through MBS issued by GSEs		272,774		—		(31,534)		241,240
Agency CMOs		331,394		2		(50,057)		281,339
State and municipal obligations		37,000		—		(3,021)		33,979
Total securities available-for-sale	$	1,071,858	$	59	$	(121,330)	$	950,587

	December 31, 2022
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,157	$	—	$	(14,095)	$	75,062
Corporate securities		9,000		—		(553)		8,447
Pass-through MBS issued by GSEs		278,281		—		(40,960)		237,321
Agency CMOs		209,360		—		(24,431)		184,929
Total securities held-to-maturity	$	585,798	$	—	$	(80,039)	$	505,759

There were no transfers to or from securities held-to-maturity during the three or nine months ended September 30, 2023. During the nine months ended September 30, 2022, the Company transferred securities with an amortized cost of $400.0 million from available-for-sale to held-to-maturity. The transfers occurred at fair value totaling $372.2 million. The related

unrealized losses of $27.8 million were converted to a discount that is being accreted through interest income on a level-yield method over the term of the securities, while the unrealized losses recorded in other comprehensive income are amortized out of other comprehensive income through interest income on a level-yield method over the remaining term of securities, with no net change to interest income. No gain or loss was recorded at the time of transfer. There were no transfers of securities held-to-maturity to securities available-for-sale during the three or nine months ended September 30, 2022.

The carrying amount of securities pledged at September 30, 2023 and December 31, 2022 was $470.0 million and $631.4 million, respectively.

At September 30, 2023 and December 31, 2022, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity.

The amortized cost and fair value of securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.


	September 30, 2023
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	83,132	$	80,015
One to five years		206,284		188,885
Five to ten years		167,113		139,134
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		551,141		461,845
Total	$	1,007,670	$	869,879

Held-to-maturity
Within one year	$	—	$	—
One to five years		19,772		17,743
Five to ten years		78,689		63,468
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		501,830		414,775
Total	$	600,291	$	495,986

The following table presents the information related to sales of securities available-for-sale as of the periods indicated:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Securities available-for-sale
Proceeds	$	—	$	—	$	77,804	$	—
Gross gains		—		—		130		—
Tax expense on gains		—		—		39		—
Gross losses		—		—		1,577		—
Tax benefit on losses		—		—		467		—

There were no sales of securities held-to-maturity during the three or nine months ended September 30, 2023 and 2022.

The following table summarizes the gross unrealized losses and fair value of securities available-for-sale aggregated by investment category and the length of time the securities were in a continuous unrealized loss position as of the dates indicated:

September 30, 2023

Less than 12

12 Consecutive

Consecutive Months

Months or Longer

Total

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

(In thousands)

Value

Losses

Value

Losses

Value

Losses

Securities available-for-sale:

Agency notes

—

9,143

857

9,143

857

Treasury securities

—

229,873

16,262

229,873

16,262

Corporate securities

19,118

2,248

121,969

26,214

141,087

28,462

Pass-through MBS issued by GSEs

904

205,299

33,294

206,203

33,306

Agency CMOs

2,427

248,193

55,970

250,620

56,011

State and municipal obligations

1,713

137

26,218

2,777

27,931

2,914


	December 31, 2022
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Treasury securities	$	—	$	—	$	227,256	$	19,643	$	227,256	$	19,643
Corporate securities		110,707		8,494		50,116		8,581		160,823		17,075
Pass-through MBS issued by GSEs		50,813		2,010		190,427		29,524		241,240		31,534
Agency CMOs		55,924		3,454		220,413		46,603		276,337		50,057
State and municipal obligations		10,848		174		22,681		2,847		33,529		3,021

As of September 30, 2023, none of the Company’s available-for-sale debt securities were in an unrealized loss position due to credit and therefore no allowance for credit losses on available-for-sale debt securities was required. Additionally, given the high-quality composition of the Company’s held-to-maturity portfolio, the Company did not record an allowance for credit losses on the held-to-maturity portfolio. With respect to certain classes of debt securities, primarily U.S. Treasuries and securities issued by Government Sponsored Entities, the Company considers the history of credit losses, current conditions and reasonable and supportable forecasts, which may indicate that the expectation that nonpayment of the amortized cost basis is or continues to be zero, even if the U.S. government were to technically default. Accrued interest receivable on securities totaling $3.3 million and $5.4 million at September 30, 2023 and December 31, 2022, respectively, was included in other assets in the consolidated balance sheet and excluded from the amortized cost and estimated fair value totals in the table above.

Management evaluates available-for-sale debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to (1) the extent to which the fair value is less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

At September 30, 2023, substantially all of the securities in an unrealized loss position had a fixed interest rate and the cause of the temporary impairment was directly related to changes in interest rates. The Company generally views changes in fair value caused by changes in interest rates as temporary, which is consistent with its experience. The following major security types held by the Company are all issued by U.S. government entities and agencies and therefore either explicitly or implicitly guaranteed by the U.S. government: Agency Notes, Treasury Securities, Pass-through MBS issued by GSEs, Agency Collateralized Mortgage Obligations. Substantially all of the corporate bonds within the portfolio have maintained an investment grade rating by either Kroll, Egan-Jones, Fitch, Moody’s or Standard and Poor’s. None of the unrealized losses are related to credit quality of the issuer. Substantially all of the state and municipal obligations within the portfolio have all maintained an investment grade rating by either Moody’s or Standard and Poor’s. The Company does not have the intent to sell these securities and it is more likely than not that it will not be required to sell the securities before their

anticipated recovery. The issuers continue to make timely principal and interest payments on the debt. The fair value is expected to recover as the securities approach maturity.

OTHER INTANGIBLE ASSETS - Estimated amortization expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
OTHER INTANGIBLE ASSETS
2023	$ 349
2024	1,164
2025	958
2026	795
2027	664
Thereafter	1,479
Total	$ 5,409

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Stockholders' equity:
Preferred stock, Series A, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Series A, liquidation value (in dollars per share)	$ 25.00	$ 25.00
Preferred stock, Series A, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, Series A, shares issued (in shares)	5,299,200	5,299,200
Preferred stock, Series A, shares outstanding (in shares)	5,299,200	5,299,200
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	41,632,327	41,621,772
Common stock, shares outstanding (in shares)	38,810,546	38,573,000
Treasury stock (in shares)	2,821,781	3,048,772

DERIVATIVES AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2023

Derivatives, Fair Value [Line Items]

Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income (loss)

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

(Loss) gain recognized in other comprehensive income (loss)

(246)

5,387

(771)

14,548

(Loss) gain reclassified from other comprehensive income into interest expense

(293)

546

(279)

569

Designated as Hedging Instrument

Derivatives, Fair Value [Line Items]

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition

September 30, 2023

December 31, 2022

Notional

Fair Value

Notional

Fair Value

(Dollars in thousands)

Count

Amount

Assets

Liabilities

Count

Amount

Assets

Liabilities

Included in derivative assets/(liabilities):

Interest rate swaps related to FHLBNY advances

150,000

16,657

—

150,000

17,150

—

Not Designated as Hedging Instrument

Derivatives, Fair Value [Line Items]

Schedule of fair value of derivative financial instruments and classification on consolidated statements of financial condition


	September 30, 2023
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	4	$	34,050	$	360	$	—
Loan level interest rate swaps with borrower	219		1,549,816		—		158,976
Loan level interest rate floors with borrower	3		17,625		—		—
Loan level interest rate floors with borrower	25		178,032		—		1,376
Loan level interest rate swaps with third-party counterparties	4		34,050		—		360
Loan level interest rate swaps with third-party counterparties	219		1,549,816		158,976		—
Loan level interest rate floors with third-party counterparties	3		17,625		—		—
Loan level interest rate floors with third-party counterparties	25		178,032		1,376		—


	December 31, 2022
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	3	$	53,311	$	1,524	$	—
Loan level interest rate swaps with borrower	185		1,214,736		—		126,751
Loan level interest rate floors with borrower	40		326,309		—		9,060
Loan level interest rate swaps with third-party counterparties	3		53,311		—		1,524
Loan level interest rate swaps with third-party counterparties	185		1,214,736		126,751		—
Loan level interest rate floors with third-party counterparties	40		326,309		9,060		—

Schedule of loan level derivative income

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Loan level derivative income

783

549

6,353

2,240

FHLBNY ADVANCES (Tables)

9 Months Ended

Sep. 30, 2023

FHLBNY ADVANCES

Schedule of contractual maturities and weighted average interest rates of FHLBNY advances


(Dollars in thousands)
Contractual Maturity	September 30, 2023		December 31, 2022
2023, fixed rate at rates from 5.18% to 5.65%		425,000		1,095,000
2024, fixed rate at rates from 4.85% to 5.16%		650,000		—
2027, fixed rate at 4.25%		36,000		36,000
2028, fixed rate at 4.04%		12,000		—
Total FHLBNY advances	$	1,123,000	$	1,131,000

FHLBNY ADVANCES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLBNY advances with an overnight contractual maturity	$ 0.0		$ 0.0
Federal Home Loan Bank of New York
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Borrowings total	1,120.0		1,120.0		$ 1,130.0
Borrowings	4,090.0		4,090.0		$ 4,130.0
Callable advances	0.0		0.0
Extinguishment of debt	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Weighted average rate			5.11%		4.55%

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 79,786	$ 112,497
Adjustments to reconcile net income to net cash provided by operating activities:
Net loss (gain) on sales of securities available-for-sale and other assets	1,469	(1,397)
Loss on equity securities	1,079
Net gain on sale of loans held for sale	(1,164)	(1,569)
Net depreciation, amortization and accretion	4,560	6,426
Amortization of other intangible assets	1,075	1,447
Loss on extinguishment of debt		740
Stock-based compensation	3,198	3,228
(Recovery) provision for credit losses	(950)	5,039
Originations of loans held for sale	(6,440)	(17,128)
Proceeds from sale of loans originated for sale	22,171	34,029
Increase in cash surrender value of BOLI	(6,687)	(6,003)
Gain from death benefits from BOLI	(645)	(2,156)
Decrease (Increase) in other assets	3,679	(27,052)
Increase in other liabilities	29,785	139,350
Net cash provided by operating activities	130,916	247,451
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of securities available-for-sale	77,804
Purchases of securities available-for-sale	(80,625)	(29,742)
Purchases of securities held-to-maturity	(28,328)	(63,210)
Proceeds from calls and principal repayments of securities available-for-sale	60,167	139,974
Proceeds from calls and principal repayments of securities held-to-maturity	16,433	25,260
Purchase of BOLI	(8,000)	(30,000)
Proceeds received from cash surrender value of BOLI	1,224	2,843
Proceeds from the sale of portfolio loans transferred to held for sale	4,192	13,201
Net increase in loans	(316,784)	(903,287)
Purchases of fixed assets, net	(4,230)	(2,621)
Proceeds from the sale of fixed assets and premises held for sale	25
Purchases of restricted stock, net	(1,340)	(27,924)
Net cash used in investing activities	(279,462)	(875,506)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in deposits	382,274	29,972
(Repayments) proceeds from FHLBNY advances, short-term, net	(170,000)	395,000
Proceeds from FHLBNY advances, long-term	162,000	200,000
(Repayments) proceeds of other short-term borrowings, net	(1,360)	262
Proceeds from subordinated debentures issuance, net		157,559
Redemption of subordinated debentures		(155,000)
Release of stock for benefit plan awards	823	796
Payments related to tax withholding for equity awards	(1,252)	(1,557)
Purchase of treasury stock	(947)	(46,498)
Cash dividends paid to preferred stockholders	(5,465)	(5,465)
Cash dividends paid to common stockholders	(28,000)	(27,740)
Net cash provided by financing activities	338,073	547,329
Increase (decrease) in cash and cash equivalents	189,527	(80,726)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	169,297	393,722
CASH AND CASH EQUIVALENTS, END OF PERIOD	358,824	312,996
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	31,270	35,127
Cash paid for interest	193,529	22,619
Securities available-for-sale transferred to held-to-maturity		372,154
Loans transferred to held for sale	22,500	27,426
Loans transferred to held for investment		4,051
Premises transferred to held for sale	905
Operating lease assets in exchange for operating lease liabilities	$ 6,333	$ 2,274

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 14,985	$ 27,498	$ 37,303	$ 39,481	$ 38,485	$ 34,531	$ 79,786	$ 112,497

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

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+ Details

DERIVATIVES AND HEDGING ACTIVITIES

9 Months Ended

Sep. 30, 2023

DERIVATIVES AND HEDGING ACTIVITIES

DERIVATIVES AND HEDGING ACTIVITIES

9.DERIVATIVES AND HEDGING ACTIVITIES

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s loan portfolio.

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. The Company engages in both cash flow hedges and freestanding derivatives.

Cash Flow Hedges

Cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company uses these types of derivatives to hedge the variable cash flows associated with existing or forecasted issuances of short-term borrowings.

For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest expense in the

same periods during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s debt. During the next twelve months, the Company estimates that an additional $7.2 million will be reclassified as a decrease to interest expense.

The Company did not terminate any derivatives during the three and nine months ended September 30, 2023 and September 30 2022, respectively.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated statements of financial condition as of the dates indicated.

September 30, 2023

December 31, 2022

Notional

Fair Value

Notional

Fair Value

(Dollars in thousands)

Count

Amount

Assets

Liabilities

Count

Amount

Assets

Liabilities

Included in derivative assets/(liabilities):

Interest rate swaps related to FHLBNY advances

150,000

16,657

—

150,000

17,150

—

The table below presents the effect of the cash flow hedge accounting on accumulated other comprehensive income (loss) for the periods indicated:

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

(Loss) gain recognized in other comprehensive income (loss)

(246)

5,387

(771)

14,548

(Loss) gain reclassified from other comprehensive income into interest expense

(293)

546

(279)

569

All cash flow hedges are recorded gross on the balance sheet.

The cash flow hedges involve derivative agreements with third-party counterparties that contain provisions requiring the Company to post cash collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position. As of September 30, 2023 and December 31, 2022, the Company did not post collateral to the third-party counterparties. As of September 30, 2023, the Company received $18.0 million in collateral from its third-party counterparties under the agreements in a net asset position. As of December 31, 2022, the Company received $17.8 million in collateral from its third-party counterparties.

Freestanding Derivatives

The Company maintains an interest-rate risk protection program for its loan portfolio in order to offer loan level derivatives with certain borrowers and to generate loan level derivative income. The Company enters into interest rate swap or interest rate floor agreements with borrowers. These interest rate derivatives are designed such that the borrower synthetically attains a fixed-rate loan, while the Company receives floating rate loan payments. The Company offsets the loan level interest rate swap exposure by entering into an offsetting interest rate swap or interest rate floor with an unaffiliated and reputable bank counterparty. These interest rate derivatives do not qualify as designated hedges, under ASU 815; therefore, each interest rate derivative is accounted for as a freestanding derivative. The notional amounts of the interest rate derivatives do not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the

notional amount and the other terms of the individual interest rate derivative agreements. The following tables reflect freestanding derivatives included in the consolidated statements of financial condition as of the dates indicated:


	September 30, 2023
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	4	$	34,050	$	360	$	—
Loan level interest rate swaps with borrower	219		1,549,816		—		158,976
Loan level interest rate floors with borrower	3		17,625		—		—
Loan level interest rate floors with borrower	25		178,032		—		1,376
Loan level interest rate swaps with third-party counterparties	4		34,050		—		360
Loan level interest rate swaps with third-party counterparties	219		1,549,816		158,976		—
Loan level interest rate floors with third-party counterparties	3		17,625		—		—
Loan level interest rate floors with third-party counterparties	25		178,032		1,376		—


	December 31, 2022
		Notional		Fair Value		Fair Value
(In thousands)	Count	Amount		Assets		Liabilities
Included in derivative assets/(liabilities):
Loan level interest rate swaps with borrower	3	$	53,311	$	1,524	$	—
Loan level interest rate swaps with borrower	185		1,214,736		—		126,751
Loan level interest rate floors with borrower	40		326,309		—		9,060
Loan level interest rate swaps with third-party counterparties	3		53,311		—		1,524
Loan level interest rate swaps with third-party counterparties	185		1,214,736		126,751		—
Loan level interest rate floors with third-party counterparties	40		326,309		9,060		—

Loan level derivative income is recognized on the mark-to-market of the interest rate swap as a fair value adjustment at the time the transaction is closed. Total loan level derivative income is included in non-interest income as follows:

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Loan level derivative income

783

549

6,353

2,240

The interest rate swap product with the borrower is cross collateralized with the underlying loan and, therefore, there is no posted collateral. Certain interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position. As of September 30, 2023 and December 31, 2022, the Company did not post collateral to its third-party counterparties. As of September 30, 2023, the Company received $167.6 million in collateral from its third-party counterparties under the agreements in a net asset position. As of December 31, 2022, the Company received $135.3 million in collateral from its third-party counterparties under the agreements in a net asset position.

Risk Participation Agreements

The Company enters into risk participation agreements to manage economic risks but does not designate the instruments in hedge relationships. As of September 30, 2023 and December 31, 2022, the notional amounts of risk participation agreements for derivative liabilities were $94.0 million and $71.1 million, respectively. The related fair values of the Company’s risk participation agreements were immaterial as of September 30, 2023 and December 31, 2022.

Credit Risk Related Contingent Features

The Company’s agreements with each of its derivative counterparties state that if the Company defaults on any of its indebtedness, it could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty.

The Company’s agreements with certain of its derivative counterparties state that if the Bank fails to maintain its status as a well-capitalized institution, the Bank could be required to terminate its derivative positions with the counterparty.

For derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, any breach of the above provisions by the Company may require settlement of its obligations under the agreements at the termination value with the respective counterparty. There were no provisions breached for the three or nine months ended September 30, 2023 and September 30, 2022.

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value, assets and liabilities measured on recurring basis

Fair Value Measurements

at September 30, 2023 Using

Level 1

Level 2

Level 3

(In thousands)

Total

Inputs

Financial Assets:

Securities available-for-sale:

Agency notes

9,143

—

9,143

—

Treasury securities

229,873

—

229,873

—

Corporate securities

141,087

—

141,087

—

Pass-through MBS issued by GSEs

206,203

—

206,203

—

Agency CMOs

255,642

—

255,642

—

State and municipal obligations

27,931

—

27,931

—

Derivative – cash flow hedges

16,657

—

16,657

—

Derivative – freestanding derivatives, net

160,712

—

160,712

—

Financial Liabilities:

Derivative – freestanding derivatives, net

160,712

—

160,712

—


			Fair Value Measurements
			at December 31, 2022 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Treasury securities	$	227,256	$	—	$	227,256	$	—
Corporate securities		166,773		—		166,773		—
Pass-through MBS issued by GSEs		241,240		—		241,240		—
Agency CMOs		281,339		—		281,339		—
State and municipal obligations		33,979		—		33,979		—
Derivative – cash flow hedges		17,150		—		17,150		—
Derivative – freestanding derivatives, net		137,335		—		137,335		—
Financial Liabilities:
Derivative – freestanding derivatives, net		137,335		—		137,335		—

Schedule of assets measured at fair value on a non-recurring basis

September 30, 2023

Fair Value Measurements Using:

Quoted Prices

In Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

(In thousands)

Value

(Level 1)

(Level 2)

(Level 3)

Individually evaluated loans

352

—

352

December 31, 2022

Fair Value Measurements Using:

Quoted Prices

In Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

(In thousands)

Value

(Level 1)

(Level 2)

(Level 3)

Individually evaluated loans

1,179

—

1,179

Schedule of fair value measurements, nonrecurring

Fair Value Measurements

at September 30, 2023 Using

Carrying

Level 1

Level 2

Level 3

(In thousands)

Amount

Inputs

Total

Financial Assets:

Cash and due from banks

358,824

—

358,824

Securities held-to-maturity

600,291

—

495,986

—

495,986

Loans held for investment, net

10,777,696

—

10,255,764

Accrued interest receivable

53,608

—

5,525

48,083

53,608

Financial Liabilities:

Savings, money market and checking accounts ⁽¹⁾

9,194,247

—

9,194,247

Certificates of Deposits ("CDs")

1,442,299

—

1,433,548

—

1,433,548

FHLBNY advances

1,123,000

—

1,119,564

—

1,119,564

Subordinated debt, net

200,218

—

162,218

—

162,218

Accrued interest payable

19,948

—

19,948

—

19,948

⁽¹⁾ Includes mortgage escrow deposits.


			Fair Value Measurements
			at December 31, 2022 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	169,297	$	169,297	$	—	$	—	$	169,297
Securities held-to-maturity		585,798		—		505,759		—		505,759
Loans held for investment, net		10,482,145		—		—		10,005,121		10,005,121
Accrued interest receivable		48,561		—		6,105		42,456		48,561
Financial Liabilities:
Savings, money market and checking accounts⁽¹⁾		9,139,043		9,139,043		—		—		9,139,043
Certificates of Deposits ("CDs")		1,115,364		—		1,096,808		—		1,096,808
FHLBNY advances		1,131,000		—		1,131,217		—		1,131,217
Subordinated debt, net		200,283		—		180,583		—		180,583
Other short-term borrowings		1,360		1,360		—		—		1,360
Accrued interest payable		5,323		—		5,323		—		5,323

FHLBNY ADVANCES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Contractual Maturity, Amount
2023/2024	$ 425,000	$ 1,100,000
2024	698,000	36,000
Federal Home Loan Bank of New York
Contractual Maturity, Amount
2023	425,000	1,095,000
2023/2024	650,000
2027	36,000	36,000
2028	12,000
Total FHLBNY advances, amount	$ 1,123,000	$ 1,131,000
Minimum \| Federal Home Loan Bank of New York
Contractual Maturity, Weighted Average Rate
2023	5.18%	5.18%
2024	4.85%	4.85%
Maximum \| Federal Home Loan Bank of New York
Contractual Maturity, Weighted Average Rate
2023	5.65%	5.65%
2024	5.16%	5.16%
Weighted Average Rate \| Federal Home Loan Bank of New York
Contractual Maturity, Weighted Average Rate
2027	4.25%	4.25%
2028	4.04%	4.04%

RETIREMENT AND POSTRETIREMENT PLANS (Tables)

9 Months Ended

Sep. 30, 2023

RETIREMENT AND POSTRETIREMENT PLANS

Schedule of components of net periodic benefit (credit) cost included in other non-interest expense


	Three Months Ended September 30,
		2023			2022

	BNB Bank		Employee		BNB Bank		Employee
(In thousands)	Pension Plan		Retirement Plan		Pension Plan		Retirement Plan
Service cost	$	175	$	—	$	267	$	—
Interest cost		330		222		195		155
Expected return on assets		(687)		(382)		(857)		(490)
Amortization of unrealized loss		—		147		—		63
Net periodic credit	$	(182)	$	(13)	$	(395)	$	(272)


	Nine Months Ended September 30,
	2023				2022

	BNB Bank		Employee		BNB Bank		Employee
(In thousands)	Pension Plan		Retirement Plan		Pension Plan		Retirement Plan
Service cost	$	525	$	—	$	802	$	—
Interest cost		990		667		585		465
Expected return on assets		(2,062)		(1,147)		(2,572)		(1,470)
Amortization of unrealized loss		—		442		—		188
Net periodic credit	$	(547)	$	(38)	$	(1,185)	$	(817)

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Oct. 30, 2023
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Entity File Number	001-34096
Entity Registrant Name	DIME COMMUNITY BANCSHARES, INC
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-2934195
Entity Address, Address Line One	898 Veterans Memorial Highway
Entity Address, City or Town	Suite 560, Hauppauge
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11788
City Area Code	631
Local Phone Number	537-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,820,886
Entity Central Index Key	0000846617
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	DCOM
Security Exchange Name	NASDAQ
Preferred Stock, Series A
Entity Listings [Line Items]
Title of 12(b) Security	Preferred Stock, Series A, $0.01 Par Value
Trading Symbol	DCOMP
Security Exchange Name	NASDAQ

INCOME TAXES

9 Months Ended

Sep. 30, 2023

INCOME TAXES

INCOME TAXES

16.INCOME TAXES

During the three months ended September 30, 2023 and 2022, the Company’s consolidated effective tax rates were 35.1% and 28.1%, respectively. During the nine months ended September 30, 2023 and 2022, the Company’s consolidated effective tax rates were 28.5% and 28.2%, respectively. The increase in tax rate for the three and nine months ended September 30, 2023 was primarily due to non-deductible severance expense during the period.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Before and After Tax Amounts by Component (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Change in unrealized gain (loss) on securities:
Change in net unrealized loss during the period	$ (4,374)			$ (39,692)			$ (17,967)	$ (142,980)
Reclassification adjustment for net losses included in net loss on sale of securities and other assets							1,447
Accretion of net unrealized loss on securities transferred to held-to-maturity	788			1,112			2,341	2,111
Net change	(3,586)			(38,580)			(14,179)	(140,869)
Tax benefit	(1,062)			(12,133)			(1,507)	(44,304)
Net change in unrealized loss on securities, net of reclassification adjustments and tax	(2,524)			(26,447)			(12,672)	(96,565)
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense	(370)			(935)			(1,110)	(2,805)
Change in the net actuarial gain	518			997			1,553	2,992
Net change	148			62			443	187
Tax expense	185			20			272	59
Net change in pension and other postretirement obligations	(37)			42			171	128
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period	(246)			5,387			(771)	14,548
Reclassification adjustment for expense included in interest expense	293			(546)			279	(569)
Net change	47			4,841			(492)	13,979
Tax expense (benefit)	14			1,522			(459)	4,397
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax	33			3,319			(33)	9,582
Total other comprehensive loss, net of tax	$ (2,528)	$ (5,747)	$ (4,259)	$ (23,086)	$ (20,570)	$ (43,199)	$ (12,534)	$ (86,855)

STOCK-BASED COMPENSATION - Stock Option Awards Exercise Price Range (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
$34.87
STOCK-BASED COMPENSATION
Exercise Prices	$ 34.87
$35.35
STOCK-BASED COMPENSATION
Exercise Prices	35.35
$36.19
STOCK-BASED COMPENSATION
Exercise Prices	36.19
Employee Stock Option [Member]
STOCK-BASED COMPENSATION
Exercise Prices	$ 35.39	$ 35.39
Outstanding Options, Amount	92,137	92,137
Outstanding options, weighted average remaining contractual years	5 years 6 months	6 years 2 months 12 days
Vested Options, Amount	92,137
Vested Options, Weighted Average Contractual Years Remaining	5 years 6 months
Employee Stock Option [Member] \| $34.87
STOCK-BASED COMPENSATION
Outstanding Options, Amount	35,671
Outstanding options, weighted average remaining contractual years	6 years 4 months 24 days
Vested Options, Amount	35,671
Vested Options, Weighted Average Contractual Years Remaining	6 years 4 months 24 days
Employee Stock Option [Member] \| $35.35
STOCK-BASED COMPENSATION
Outstanding Options, Amount	32,079
Outstanding options, weighted average remaining contractual years	5 years 4 months 24 days
Vested Options, Amount	32,079
Vested Options, Weighted Average Contractual Years Remaining	5 years 4 months 24 days
Employee Stock Option [Member] \| $36.19
STOCK-BASED COMPENSATION
Outstanding Options, Amount	24,387
Outstanding options, weighted average remaining contractual years	4 years 4 months 24 days
Vested Options, Amount	24,387
Vested Options, Weighted Average Contractual Years Remaining	4 years 4 months 24 days

OTHER INTANGIBLE ASSETS - Carrying amount and accumulated amortization of intangible assets amortizable (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Acquired intangible assets:
Total	$ 5,409
Core Deposit Intangibles
Acquired intangible assets:
Gross carrying value	10,204	$ 10,204
Accumulated amortization	(4,795)	(3,720)
Total	$ 5,409	$ 6,484

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2023

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

10.FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1 Inputs – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs – Significant other observable inputs such as any of the following: (1) quoted prices for similar assets or liabilities in active markets, (2) quoted prices for identical or similar assets or liabilities in markets that are not active, (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates), or (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).

Level 3 Inputs – Significant unobservable inputs for the asset or liability. Significant unobservable inputs reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). Significant unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Securities

The Company’s available-for-sale securities are reported at fair value, which were determined utilizing prices obtained from independent parties. The valuations obtained are based upon market data, and often utilize evaluated pricing models that vary by asset and incorporate available trade, bid and other market information. For securities that do not trade on a daily basis, pricing applications apply available information such as benchmarking and matrix pricing. The market inputs normally sought in the evaluation of securities include benchmark yields, reported trades, broker/dealer quotes (obtained only from market makers or broker/dealers recognized as market participants), issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. For certain securities, additional inputs may be used or some market inputs may not be applicable. Prioritization of inputs may vary on any given day based on market conditions.

All MBS, CMOs, treasury securities, and agency notes are guaranteed either implicitly or explicitly by GSEs as of September 30, 2023 and December 31, 2022. In accordance with the Company’s investment policy, corporate securities are rated "investment grade" at the time of purchase and the financials of the issuers are reviewed quarterly. Obtaining market values as of September 30, 2023 and December 31, 2022 for these securities utilizing significant observable inputs was not difficult due to their liquid nature.

Derivatives

Derivatives represent interest rate swaps and estimated fair values are based on valuation models using observable market data as of the measurement date.

The following tables present financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Fair Value Measurements

at September 30, 2023 Using

Level 1

Level 2

Level 3

(In thousands)

Total

Inputs

Financial Assets:

Securities available-for-sale:

Agency notes

9,143

—

9,143

—

Treasury securities

229,873

—

229,873

—

Corporate securities

141,087

—

141,087

—

Pass-through MBS issued by GSEs

206,203

—

206,203

—

Agency CMOs

255,642

—

255,642

—

State and municipal obligations

27,931

—

27,931

—

Derivative – cash flow hedges

16,657

—

16,657

—

Derivative – freestanding derivatives, net

160,712

—

160,712

—

Financial Liabilities:

Derivative – freestanding derivatives, net

160,712

—

160,712

—


			Fair Value Measurements
			at December 31, 2022 Using
			Level 1		Level 2		Level 3
(In thousands)	Total		Inputs		Inputs		Inputs
Financial Assets:
Securities available-for-sale:
Treasury securities	$	227,256	$	—	$	227,256	$	—
Corporate securities		166,773		—		166,773		—
Pass-through MBS issued by GSEs		241,240		—		241,240		—
Agency CMOs		281,339		—		281,339		—
State and municipal obligations		33,979		—		33,979		—
Derivative – cash flow hedges		17,150		—		17,150		—
Derivative – freestanding derivatives, net		137,335		—		137,335		—
Financial Liabilities:
Derivative – freestanding derivatives, net		137,335		—		137,335		—

Assets and Liabilities Measured at Fair Value on a Non-recurring Basis

Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis. That is, they are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a non-recurring basis include certain individually evaluated loans (or impaired loans prior to the adoption of ASC 326) reported at the fair value of the underlying collateral if repayment is expected solely from the collateral.

September 30, 2023

Fair Value Measurements Using:

Quoted Prices

In Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

(In thousands)

Value

(Level 1)

(Level 2)

(Level 3)

Individually evaluated loans

352

—

352

December 31, 2022

Fair Value Measurements Using:

Quoted Prices

In Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

(In thousands)

Value

(Level 1)

(Level 2)

(Level 3)

Individually evaluated loans

1,179

—

1,179

Collateral dependent individually evaluated loans with an allowance for credit losses at September 30, 2023 had a carrying amount of $352 thousand. There was no credit loss recovery or provision on collateral dependent individually evaluated loans during the three months ended September 30, 2023. There was a credit loss recovery of $992 thousand for the nine months ended September 30, 2023 on collateral dependent individually evaluated loans, which is included in the amounts reported in the consolidated statements of income.

Individually evaluated loans with an allowance for credit losses at December 31, 2022 had a carrying amount of $1.2 million, which is made up of the outstanding balance of $2.5 million, net of a valuation allowance of $1.3 million.

Financial Instruments Not Measured at Fair Value

The following tables present the carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or nonrecurring basis for the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Fair Value Measurements

at September 30, 2023 Using

Carrying

Level 1

Level 2

Level 3

(In thousands)

Amount

Inputs

Total

Financial Assets:

Cash and due from banks

358,824

—

358,824

Securities held-to-maturity

600,291

—

495,986

—

495,986

Loans held for investment, net

10,777,696

—

10,255,764

Accrued interest receivable

53,608

—

5,525

48,083

53,608

Financial Liabilities:

Savings, money market and checking accounts ⁽¹⁾

9,194,247

—

9,194,247

Certificates of Deposits ("CDs")

1,442,299

—

1,433,548

—

1,433,548

FHLBNY advances

1,123,000

—

1,119,564

—

1,119,564

Subordinated debt, net

200,218

—

162,218

—

162,218

Accrued interest payable

19,948

—

19,948

—

19,948

⁽¹⁾ Includes mortgage escrow deposits.


			Fair Value Measurements
			at December 31, 2022 Using
	Carrying		Level 1		Level 2		Level 3
(In thousands)	Amount		Inputs		Inputs		Inputs		Total
Financial Assets:
Cash and due from banks	$	169,297	$	169,297	$	—	$	—	$	169,297
Securities held-to-maturity		585,798		—		505,759		—		505,759
Loans held for investment, net		10,482,145		—		—		10,005,121		10,005,121
Accrued interest receivable		48,561		—		6,105		42,456		48,561
Financial Liabilities:
Savings, money market and checking accounts⁽¹⁾		9,139,043		9,139,043		—		—		9,139,043
Certificates of Deposits ("CDs")		1,115,364		—		1,096,808		—		1,096,808
FHLBNY advances		1,131,000		—		1,131,217		—		1,131,217
Subordinated debt, net		200,283		—		180,583		—		180,583
Other short-term borrowings		1,360		1,360		—		—		1,360
Accrued interest payable		5,323		—		5,323		—		5,323

⁽¹⁾ Includes mortgage escrow deposits.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVES AND HEDGING ACTIVITIES - Effect on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
(Loss) gain recognized in other comprehensive income (loss)	$ (246)	$ 5,387	$ (771)	$ 14,548
Interest Rate Products \| Other Comprehensive Income
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
(Loss) gain recognized in other comprehensive income (loss)	(246)	5,387	(771)	14,548
Interest Rate Products \| Other Comprehensive Income \| Interest Expense
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
(Loss) gain reclassified from other comprehensive income into interest expense	$ (293)	$ 546	$ (279)	$ 569

SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	May 06, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jun. 15, 2022
Debt Instrument [Line Items]
Subordinated notes payable, net			$ 200,200		$ 200,200		$ 200,300
Interest expense related to the subordinated debt			$ 2,600	$ 2,600	$ 7,700	$ 8,100
Fixed to Floating Rate Subordinated Notes Due 2032 (the Notes)
Debt Instrument [Line Items]
Aggregate principal amount issued		$ 160,000
Date after debt becomes callable		May 15, 2027
Fixed to Floating Rate Subordinated Notes Due 2032 (the Notes) \| Prior to May 15, 2027
Debt Instrument [Line Items]
Fixed annual interest rate		5.00%
Fixed to Floating Rate Subordinated Notes Due 2032 (the Notes) \| On or after August 15, 2027 \| SOFR
Debt Instrument [Line Items]
Basis points added to benchmark rate		2.18%
Fixed to Floating Rate Subordinated Notes Due 2027 (4.50%)
Debt Instrument [Line Items]
Fixed annual interest rate								4.50%
Net proceeds of the offering for the repayment								$ 115,000
Write-off of debt issuance costs	$ 740
Fixed to Floating Rate Subordinated Notes Due 2025 (5.25%)
Debt Instrument [Line Items]
Fixed annual interest rate	5.25%
Net proceeds of the offering for the repayment	$ 40,000

FHLBNY ADVANCES

9 Months Ended

Sep. 30, 2023

FHLBNY ADVANCES

FHLBNY ADVANCES

12.FHLBNY ADVANCES

The Bank had borrowings from the FHLBNY Advances totaling $1.12 billion and $1.13 billion at September 30, 2023 and December 31, 2022, respectively, all of which were fixed rate. In accordance with its Advances, Collateral Pledge and Security Agreement with the FHLBNY, the Bank was eligible to borrow an additional $4.09 billion as of September 30, 2023 and $4.13 billion as of December 31, 2022, and maintained sufficient qualifying collateral, as defined by the FHLBNY. At September 30, 2023 there were no callable Advances.

The Company did not have extinguishment of debt during the three or nine months ended September 30, 2023 or 2022.

The following tables present the contractual maturities and weighted average interest rates of FHLBNY advances for each of the next five years. There were no FHLBNY advances with an overnight contractual maturity at September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, there were $425.0 million of FHLBNY advances with contractual maturities during 2023 and $698.0 million of FHLBNY advances with contractual maturities after 2023. As of December 31, 2022, there were $1.10 billion of FHLBNY advances with contractual maturities during 2023 and $36.0 million of FHLBNY advances with contractual maturities after 2022.


(Dollars in thousands)
Contractual Maturity	September 30, 2023		December 31, 2022
2023, fixed rate at rates from 5.18% to 5.65%		425,000		1,095,000
2024, fixed rate at rates from 4.85% to 5.16%		650,000		—
2027, fixed rate at 4.25%		36,000		36,000
2028, fixed rate at 4.04%		12,000		—
Total FHLBNY advances	$	1,123,000	$	1,131,000

Total FHLBNY advances had a weighted average interest rate of 5.11% and 4.55% at September 30, 2023 and December 31, 2022, respectively.

OTHER INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

OTHER INTANGIBLE ASSETS

Schedule of acquired intangible assets


(Dollars in thousands)
Core Deposit Intangibles	September 30, 2023		December 31, 2022
Gross carrying value	$	10,204	$	10,204
Accumulated amortization		(4,795)		(3,720)
Net carrying amount	$	5,409	$	6,484

Schedule of estimated amortization expense


(In thousands)		Total
2023	$	349
2024		1,164
2025		958
2026		795
2027		664
Thereafter		1,479
Total	$	5,409

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).

Schedule of activity in accumulated other comprehensive (loss) income, net of tax


							Total
							Accumulated
			Defined				Other
			Benefit				Comprehensive
(In thousands)	Securities		Plans		Derivatives		Income (Loss)
Balance as of January 1, 2023	$	(100,870)	$	(5,266)	$	11,757	$	(94,379)
Other comprehensive (loss) income before reclassifications		(15,338)		952		(229)		(14,615)
Amounts reclassified from accumulated other comprehensive loss		2,666		(781)		196		2,081
Net other comprehensive (loss) income during the period		(12,672)		171		(33)		(12,534)
Balance as of September 30, 2023	$	(113,542)	$	(5,095)	$	11,724	$	(106,913)

Balance as of January 1, 2022	$	(7,864)	$	(1,306)	$	2,989	$	(6,181)
Other comprehensive (loss) income before reclassifications		(96,565)		2,051		9,972		(84,542)
Amounts reclassified from accumulated other comprehensive loss		—		(1,923)		(390)		(2,313)
Net other comprehensive (loss) income during the period		(96,565)		128		9,582		(86,855)
Balance as of September 30, 2022	$	(104,429)	$	(1,178)	$	12,571	$	(93,036)

Schedule of before and after tax amounts allocated to each component of other comprehensive (loss) income


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Change in unrealized gain (loss) on securities:
Change in net unrealized loss during the period	$	(4,374)	$	(39,692)	$	(17,967)	$	(142,980)
Reclassification adjustment for net losses included in net loss on sale of securities and other assets		—		—		1,447		—
Accretion of net unrealized loss on securities transferred to held-to-maturity		788		1,112		2,341		2,111
Net change		(3,586)		(38,580)		(14,179)		(140,869)
Tax benefit		(1,062)		(12,133)		(1,507)		(44,304)
Net change in unrealized loss on securities, net of reclassification adjustments and tax		(2,524)		(26,447)		(12,672)		(96,565)
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		(370)		(935)		(1,110)		(2,805)
Change in the net actuarial gain		518		997		1,553		2,992
Net change		148		62		443		187
Tax expense		185		20		272		59
Net change in pension and other postretirement obligations		(37)		42		171		128
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period		(246)		5,387		(771)		14,548
Reclassification adjustment for expense included in interest expense		293		(546)		279		(569)
Net change		47		4,841		(492)		13,979
Tax expense (benefit)		14		1,522		(459)		4,397
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax		33		3,319		(33)		9,582
Other comprehensive loss, net of tax	$	(2,528)	$	(23,086)	$	(12,534)	$	(86,855)

EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2023

EARNINGS PER COMMON SHARE

Schedule of reconciliation of numerators and denominators of basic and diluted EPS


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands except share and per share amounts)	2023		2022		2023		2022
Net income available to common stockholders	$	13,163	$	37,659	$	74,321	$	107,032
Less: Dividends paid and earnings allocated to participating securities		(209)		(438)		(1,015)		(1,244)
Income attributable to common stock	$	12,954	$	37,221	$	73,306	$	105,788
Weighted-average common shares outstanding, including participating securities		38,821,541		38,614,436		38,732,963		39,125,192
Less: weighted-average participating securities		(617,580)		(448,755)		(555,259)		(446,298)
Weighted-average common shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Basic EPS	$	0.34	$	0.98	$	1.92	$	2.74

Income attributable to common stock	$	12,954	$	37,221	$	73,306	$	105,788
Weighted-average common shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Weighted-average common equivalent shares outstanding		—		—		—		—
Weighted-average common and equivalent shares outstanding		38,203,961		38,165,681		38,177,704		38,678,894
Diluted EPS	$	0.34	$	0.98	$	1.92	$	2.74

LEASES

9 Months Ended

Sep. 30, 2023

LEASES

LEASES

8.LEASES

Maturities of the Company’s operating lease liabilities at September 30, 2023 are as follows:


	Rent to be
(In thousands)	Capitalized
2023	$	3,242
2024		13,009
2025		12,833
2026		12,173
2027		10,217
Thereafter		10,557
Total undiscounted lease payments		62,031
Less amounts representing interest		(3,750)
Operating lease liabilities	$	58,281

Other information related to the Company’s operating leases was as follows:

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Operating lease cost

3,236

3,336

9,529

9,869

Cash paid for amounts included in the measurement of operating lease liabilities

3,171

3,253

9,330

9,232


	September 30,		December 31,
	2023		2022
Weighted average remaining lease term	5.2	years	5.9	years
Weighted average discount rate	2.33	%	2.03	%

BASIS OF PRESENTATION

9 Months Ended

Sep. 30, 2023

BASIS OF PRESENTATION

BASIS OF PRESENTATION

1.BASIS OF PRESENTATION

Dime Community Bancshares, Inc. (the “ Holding Company”) is engaged in commercial banking and financial services through its wholly-owned subsidiary, Dime Community Bank (“the Bank”). The Bank was established in 1910 and is headquartered in Hauppauge, New York. The Holding Company was incorporated under the laws of the State of New York in 1988 to serve as the holding company for the Bank. The Holding Company functions primarily as the holder of all of the Bank’s common stock. Our bank operations include Dime Community Inc., a real estate investment trust subsidiary which was formerly known as Bridgehampton Community, Inc., as an operating subsidiary. Our bank operations also include Dime Abstract LLC (“Dime Abstract”), a wholly-owned subsidiary of the Bank, which is a broker of title insurance services. In September 2021, the Company dissolved two REITs, DSBW Preferred Funding Corporation and DSBW Residential Preferred Funding Corporation, which were wholly-owned subsidiaries of the Bank, and the preferred shares outstanding were redeemed by their shareholders. As of September 30, 2023, we operated 60 branch locations throughout Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, Bronx and Staten Island.

The unaudited consolidated financial statements presented in this Quarterly Report on Form 10-Q include the collective results of the Holding Company and its wholly-owned subsidiary, the Bank, which are collectively herein referred to as “we”, “us”, “our” and the “Company.”

The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The unaudited consolidated financial statements included herein reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. Such estimates are subject to change in the future as additional information becomes available or previously existing circumstances are modified. Actual future results could differ significantly from those estimates. The annualized results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain reclassifications have been made to prior year amounts, and the related discussion and analysis, to conform to the current year presentation. These reclassifications did not have an impact on net income or total stockholders' equity. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which remain significantly unchanged and have been followed similarly as in prior periods.

LOANS HELD FOR INVESTMENT, NET - Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	$ 10,850,611		$ 10,566,831
Allowance for credit losses	72,563		83,507
Real Estate Collateral Dependent \| Total real estate loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	4,428		8,997
Allowance for credit losses	305		1,297
Business loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	2,271,768		2,211,857
Allowance for credit losses	36,680	$ 39,700	47,029	$ 44,492	$ 45,128	$ 62,366
Business loans \| Real Estate Collateral Dependent
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	3,771		5,849
One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	892,869		773,321
Allowance for credit losses	7,206	6,419	5,969	5,058	4,514	5,932
Multifamily residential and residential mixed-use
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	4,102,024		4,026,826
Allowance for credit losses	7,567	8,190	8,360	8,054	7,003	7,816
Non-owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	3,374,281		3,317,485
Allowance for credit losses	18,430	18,440	20,153	20,507	18,707	2,131
Non-owner-occupied commercial real estate \| Total real estate loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	3,374,281		3,317,485
Non-owner-occupied commercial real estate \| Real Estate Collateral Dependent
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans			2,491
Allowance for credit losses			1,297
Acquisition, development, and construction ("ADC")
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	203,402		229,663
Allowance for credit losses	2,338	2,558		3,619	3,788
Acquisition, development, and construction ("ADC") \| Total real estate loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	2,338		1,723	3,619		4,857
Acquisition, development, and construction ("ADC") \| Real Estate Collateral Dependent
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	657		657
Allowance for credit losses	305
Other Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	6,267		7,679
Allowance for credit losses	$ 342	$ 339	$ 273	$ 205	$ 286	$ 751

SECURITIES - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
SECURITIES - Narrative (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Securities available-for-sale:
Transfer from securities held-to-maturity	$ 0		$ 0	$ 400,000,000.0
Securities available-for-sale transferred to held-to-maturity				372,154,000
Unrealized loss on transfer of securities to held to maturity				(27,800,000)
Gain (loss) on transfer of securities to held-to-maturity				0
Transfers to or from securities held-to-maturity		$ 0		0
Securities held-to-maturity	$ 495,986,000		$ 495,986,000		$ 505,759,000
Number of holdings of securities of any one issuer in an amount greater than 10% of stockholders equity	0		0		0
Threshold for disclosure percentage			10.00%		10.00%
Available for sale debt securities, unrealized loss position due to credit	$ 0		$ 0
Allowance for credit losses on available for sale debt securities	0		0
Accrued interest receivable on securities			3,300,000		$ 5,400,000
Unrealized losses are related to credit losses	0		0
Securities pledged
Securities available-for-sale:
Carrying amount of securities pledged	$ 470,000,000.0		$ 470,000,000.0		$ 631,400,000
Financial Instrument, Owned, Pledged Status [Extensible Enumeration]	Securities pledged		Securities pledged		Securities pledged
Carrying Amount
Securities available-for-sale:
Securities held-to-maturity	$ 600,291,000		$ 600,291,000		$ 585,798,000
Fair Value
Securities available-for-sale:
Securities available-for-sale transferred to held-to-maturity				$ 372,200,000
Securities held-to-maturity	$ 495,986,000		$ 495,986,000		$ 505,759,000

PREFERRED STOCK (Details) $ / shares in Units, $ in Millions				9 Months Ended
	Feb. 01, 2021	Jun. 10, 2020 USD ($) shares	Feb. 05, 2020 USD ($) $ / shares shares	Sep. 30, 2023 $ / shares	Dec. 31, 2022 $ / shares
Public Offering [Abstract]
Preferred stock, Series A, par value (in dollars per share)				$ 0.01	$ 0.01
Preferred stock, Series A, liquidation value (in dollars per share)				$ 25.00	$ 25.00
Preferred Stock, Series A
Public Offering [Abstract]
Number of share issued in public offering (in shares) \| shares		2,300,000	2,999,200
Preferred stock, liquidation preference \| $		$ 57.5	$ 75.0
Preferred stock, interest rate			5.50%	5.50%
Preferred stock, Series A, par value (in dollars per share)			$ 0.01
Preferred stock, Series A, liquidation value (in dollars per share)			$ 25.00
Proceeds from issuance of preferred stock \| $		$ 44.3	$ 72.2
Preferred stock, redemption price (in dollars per share)				$ 25.00
Preferred Stock
Public Offering [Abstract]
Share conversion ratio	1

LOANS HELD FOR INVESTMENT, NET - Loan Categories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Loans held for investment, net:
Total Loans	$ 10,850,611		$ 10,566,831
Allowance for loan losses	(72,563)		(83,507)
Total loans held for investment, net	10,778,048		10,483,324
Business loans
Loans held for investment, net:
Total Loans	2,271,768		2,211,857
Allowance for loan losses	(36,680)	$ (39,700)	(47,029)	$ (44,492)	$ (45,128)	$ (62,366)
One-to-four family residential and cooperative/condominium apartment
Loans held for investment, net:
Total Loans	892,869		773,321
Allowance for loan losses	(7,206)	(6,419)	(5,969)	(5,058)	(4,514)	(5,932)
Multifamily residential and residential mixed-use
Loans held for investment, net:
Total Loans	4,102,024		4,026,826
Allowance for loan losses	(7,567)	(8,190)	(8,360)	(8,054)	(7,003)	(7,816)
Non-owner-occupied commercial real estate
Loans held for investment, net:
Total Loans	3,374,281		3,317,485
Allowance for loan losses	(18,430)	(18,440)	(20,153)	(20,507)	(18,707)	(2,131)
Non-owner-occupied commercial real estate \| Total real estate loans
Loans held for investment, net:
Total Loans	3,374,281		3,317,485
Acquisition, development, and construction ("ADC")
Loans held for investment, net:
Total Loans	203,402		229,663
Allowance for loan losses	(2,338)	(2,558)		(3,619)	(3,788)
Acquisition, development, and construction ("ADC") \| Total real estate loans
Loans held for investment, net:
Allowance for loan losses	(2,338)		(1,723)	(3,619)		(4,857)
Other Loans
Loans held for investment, net:
Total Loans	6,267		7,679
Allowance for loan losses	$ (342)	$ (339)	$ (273)	$ (205)	$ (286)	$ (751)

LOANS HELD FOR INVESTMENT, NET - Allowance for Credit Losses Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance			$ 83,507
(Recovery) provision for credit losses	$ 1,806	$ 6,587	(950)	$ 5,039
Charge-offs			(10,937)		$ (11,401)
Allowance for credit losses, Ending balance	72,563		72,563		83,507
Non-accrual with No Allowance	3,809		3,809		6,075
Non-accrual with Allowance	19,511		19,511		28,162
Reserve	14,744		14,744		22,389
Interest income on non-accrual loans held for investment
Interest income on non-accrual loans	0	0	0	0
Business loans
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	39,700	45,128	47,029	62,366	62,366
(Recovery) provision for credit losses	1,822	3,246	(328)	(10,799)
Charge-offs	(5,147)	(5,462)	(10,921)	(8,742)	(11,401)
Recoveries	305	1,580	900	1,667
Allowance for credit losses, Ending balance	36,680	44,492	36,680	44,492	47,029
Non-accrual with No Allowance	3,809		3,809		5,403
Non-accrual with Allowance	15,746		15,746		22,384
Reserve	14,065		14,065		20,812
One-to-four family residential and cooperative/condominium apartment
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	6,419	4,514	5,969	5,932	5,932
(Recovery) provision for credit losses	787	544	1,251	(874)
Charge-offs			(14)
Allowance for credit losses, Ending balance	7,206	5,058	7,206	5,058	5,969
Non-accrual with Allowance	2,874		2,874		3,203
Reserve	140		140		181
Multifamily residential and residential mixed-use
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	8,190	7,003	8,360	7,816	7,816
(Recovery) provision for credit losses	(621)	1,051	(791)	236
Charge-offs	(2)		(2)
Recoveries				2
Allowance for credit losses, Ending balance	7,567	8,054	7,567	8,054	8,360
Non-owner-occupied commercial real estate
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	18,440	18,707	20,153	2,131	2,131
(Recovery) provision for credit losses	(10)	1,800	(1,723)	18,322
Recoveries				54
Allowance for credit losses, Ending balance	18,430	20,507	18,430	20,507	20,153
Non-accrual with No Allowance					15
Non-accrual with Allowance	15		15		2,476
Reserve	15		15		1,297
Acquisition, development, and construction ("ADC")
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	2,558	3,788
(Recovery) provision for credit losses	(220)	(169)
Allowance for credit losses, Ending balance	2,338	3,619	2,338	3,619
Non-accrual with No Allowance					657
Non-accrual with Allowance	657		657
Reserve	305		305
Acquisition, development, and construction ("ADC") \| Total real estate loans
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance			1,723	4,857	4,857
(Recovery) provision for credit losses			615	(1,238)
Allowance for credit losses, Ending balance	2,338	3,619	2,338	3,619	1,723
Other Loans
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	339	286	273	751	751
(Recovery) provision for credit losses	23	(32)	116	(495)
Charge-offs	(26)	(49)	(60)	(52)
Recoveries	6		13	1
Allowance for credit losses, Ending balance	342	205	342	205	273
Non-accrual with Allowance	219		219		99
Reserve	219		219		99
Includes other loans
Allowance for loan losses [Roll Forward]
Allowance for credit losses, Beginning balance	75,646	79,426	83,507	83,853	83,853
(Recovery) provision for credit losses	1,781	6,440	(860)	5,152
Charge-offs	(5,175)	(5,511)	(10,997)	(8,794)
Recoveries	311	1,580	913	1,724
Allowance for credit losses, Ending balance	$ 72,563	$ 81,935	$ 72,563	$ 81,935	$ 83,507

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and due from banks	$ 358,824	$ 169,297
Securities available-for-sale, at fair value	869,879	950,587
Securities held-to-maturity	600,291	585,798
Loans held for sale	3,924
Loans held for investment, net of fees and costs	10,850,611	10,566,831
Allowance for credit losses	(72,563)	(83,507)
Total loans held for investment, net	10,778,048	10,483,324
Premises and fixed assets, net	45,064	46,749
Premises held for sale	905
Restricted stock	90,085	88,745
Bank Owned Life Insurance ("BOLI")	347,400	333,292
Goodwill	155,797	155,797
Other intangible assets	5,409	6,484
Operating lease assets	55,600	57,857
Derivative assets	177,369	154,485
Accrued interest receivable	53,608	48,561
Other assets	109,202	108,945
Total assets	13,651,405	13,189,921
Due to depositors:
Interest-bearing deposits	7,593,622	6,734,997
Non-interest-bearing deposits	2,935,156	3,449,763
Deposits (excluding mortgage escrow deposits)	10,528,778	10,184,760
Non-interest-bearing mortgage escrow deposits	107,545	69,455
Interest-bearing mortgage escrow deposits	223	192
Total mortgage escrow deposits	107,768	69,647
Federal Home Loan Bank of New York ("FHLBNY") advances	1,123,000	1,131,000
Other short-term borrowings		1,360
Subordinated debt, net	200,218	200,283
Derivative cash collateral	185,620	153,040
Operating lease liabilities	58,281	60,340
Derivative liabilities	160,712	137,335
Other liabilities	82,684	82,573
Total liabilities	12,447,061	12,020,338
Commitments and contingencies
Stockholders' equity:
Preferred stock, Series A ($0.01 par, $25.00 liquidation value, 10,000,000 shares authorized and 5,299,200 shares issued and outstanding at September 30, 2023 and December 31, 2022)	116,569	116,569
Common stock ($0.01 par, 80,000,000 shares authorized, 41,632,327 and 41,621,772 shares issued at September 30, 2023 and December 31, 2022, and 38,810,546 shares and 38,573,000 shares outstanding at September 30, 2023 and December 31, 2022, respectively)	416	416
Additional paid-in capital	494,470	495,410
Retained earnings	808,235	762,762
Accumulated other comprehensive loss, net of deferred taxes	(106,913)	(94,379)
Unearned equity awards	(10,170)	(8,078)
Treasury stock, at cost (2,821,781 shares and 3,048,772 shares at September 30, 2023 and December 31, 2022, respectively)	(98,263)	(103,117)
Total stockholders' equity	1,204,344	1,169,583
Total liabilities and stockholders' equity	$ 13,651,405	$ 13,189,921

SECURITIES - Held-to-maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Securities held-to-maturity:
Amortized Cost	$ 600,291	$ 585,798
Gross Unrecognized Losses	(104,305)	(80,039)
Fair Value	495,986	505,759
US Government Agencies Debt Securities [Member]
Securities held-to-maturity:
Amortized Cost	89,461	89,157
Gross Unrecognized Losses	(15,305)	(14,095)
Fair Value	74,156	75,062
Corporate Debt Securities [Member]
Securities held-to-maturity:
Amortized Cost	9,000	9,000
Gross Unrecognized Losses	(1,945)	(553)
Fair Value	7,055	8,447
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")
Securities held-to-maturity:
Amortized Cost	283,258	278,281
Gross Unrecognized Losses	(53,777)	(40,960)
Fair Value	229,481	237,321
Agency collateralized mortgage obligations ("CMOs")
Securities held-to-maturity:
Amortized Cost	218,572	209,360
Gross Unrecognized Losses	(33,278)	(24,431)
Fair Value	$ 185,294	$ 184,929

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

+ Details

RETIREMENT AND POSTRETIREMENT PLANS

9 Months Ended

Sep. 30, 2023

RETIREMENT AND POSTRETIREMENT PLANS

RETIREMENT AND POSTRETIREMENT PLANS

14.RETIREMENT AND POSTRETIREMENT PLANS

The Bank maintains two noncontributory pension plans that existed before the Merger: (i) the Retirement Plan of Dime Community Bank (“Employee Retirement Plan”) and (ii) the BNB Bank Pension Plan, covering all eligible employees.

Employee Retirement Plan

The Bank sponsors the Employee Retirement Plan, a tax-qualified, noncontributory, defined-benefit retirement plan. Prior to April 1, 2000, substantially all full-time employees of at least 21 years of age were eligible for participation after one year of service. Effective April 1, 2000, the Bank froze all participant benefits under the Employee Retirement Plan.

BNB Bank Pension Plan

During 2012, Bridge amended the BNB Bank Pension Plan by revising the formula for determining benefits effective January 1, 2013, except for certain grandfathered Bridge employees. Additionally, new Bridge employees hired on or after October 1, 2012 were not eligible for the BNB Bank Pension Plan.

The following table represents the components of net periodic benefit (credit) cost included in other non-interest expense, except for service cost which is reported in salaries and employee benefits expense, in the consolidated statements of income. Net expenses associated with these plans were comprised of the following components:


	Three Months Ended September 30,
		2023			2022

	BNB Bank		Employee		BNB Bank		Employee
(In thousands)	Pension Plan		Retirement Plan		Pension Plan		Retirement Plan
Service cost	$	175	$	—	$	267	$	—
Interest cost		330		222		195		155
Expected return on assets		(687)		(382)		(857)		(490)
Amortization of unrealized loss		—		147		—		63
Net periodic credit	$	(182)	$	(13)	$	(395)	$	(272)


	Nine Months Ended September 30,
	2023				2022

	BNB Bank		Employee		BNB Bank		Employee
(In thousands)	Pension Plan		Retirement Plan		Pension Plan		Retirement Plan
Service cost	$	525	$	—	$	802	$	—
Interest cost		990		667		585		465
Expected return on assets		(2,062)		(1,147)		(2,572)		(1,470)
Amortization of unrealized loss		—		442		—		188
Net periodic credit	$	(547)	$	(38)	$	(1,185)	$	(817)

There were no contributions to the BNB Bank Pension Plan or the Employee Retirement Plan for the nine months ended September 30, 2023.

401(k) Plan

The Company maintains a 401(k) Plan (the “401(k) Plan”) that existed before the Merger. The 401(k) Plan covers substantially all current employees. Newly hired employees are automatically enrolled in the plan on the first day of the month following the 60^th day of employment, unless they elect not to participate. Participants may contribute a portion of their pre-tax base salary, generally not to exceed $22,500 for the calendar year ended December 31, 2023. Under the provisions of the 401(k) Plan, employee contributions are partially matched by the Bank as follows: 100% of each employee’s contributions up to 1% of each employee’s compensation plus 50% of each employee’s contributions over 1% but not in excess of 6% of each employee’s compensation for a maximum contribution of 3.5% of a participating

employee’s compensation. Participants can invest their account balances into several investment alternatives. The 401(k) Plan does not allow for investment in the Company’s common stock. The 401(k) Plan held Company common stock within the accounts of participants totaling $4.8 million at September 30, 2023. During the three and nine months ended September 30, 2023, total expense recognized as a component of salaries and employee benefits expense for the 401(k) Plan was $513 thousand and $2.0 million, respectively. During the three and nine months ended September 30, 2022, total expense recognized as a component of salaries and employee benefits expense for the 401(k) Plan was $509 thousand and $1.8 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial Assets
Derivative assets	$ 177,369	$ 154,485
Financial Liabilities
Derivative liabilities	160,712	137,335
Recurring \| Cash flow hedges
Financial Assets
Derivative assets	16,657	17,150
Recurring \| Freestanding derivatives, net
Financial Assets
Derivative assets	160,712	137,335
Financial Liabilities
Derivative liabilities	160,712	137,335
Recurring \| Level 2 Inputs \| Cash flow hedges
Financial Assets
Derivative assets	16,657	17,150
Recurring \| Level 2 Inputs \| Freestanding derivatives, net
Financial Assets
Derivative assets	160,712	137,335
Financial Liabilities
Derivative liabilities	160,712	137,335
Nonrecurring \| Level 3 Inputs
Certain individually evaluated loans
Individually evaluated loans	352	1,179
Carrying Amount
Certain individually evaluated loans
Individually evaluated loans	10,777,696	10,482,145
Carrying Amount \| Nonrecurring
Certain individually evaluated loans
Individually evaluated loans	352	1,179
US Government Agencies Debt Securities [Member] \| Recurring
Financial Assets
Securities available-for-sale:	9,143
US Government Agencies Debt Securities [Member] \| Recurring \| Level 2 Inputs
Financial Assets
Securities available-for-sale:	9,143
US Treasury Securities [Member] \| Recurring
Financial Assets
Securities available-for-sale:	229,873	227,256
US Treasury Securities [Member] \| Recurring \| Level 2 Inputs
Financial Assets
Securities available-for-sale:	229,873	227,256
Corporate securities \| Recurring
Financial Assets
Securities available-for-sale:	141,087	166,773
Corporate securities \| Recurring \| Level 2 Inputs
Financial Assets
Securities available-for-sale:	141,087	166,773
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs") \| Recurring
Financial Assets
Mortgage-backed securities	206,203	241,240
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs") \| Recurring \| Level 2 Inputs
Financial Assets
Mortgage-backed securities	206,203	241,240
Agency collateralized mortgage obligations ("CMOs") \| Recurring
Financial Assets
Securities available-for-sale:	255,642	281,339
Agency collateralized mortgage obligations ("CMOs") \| Recurring \| Level 2 Inputs
Financial Assets
Securities available-for-sale:	255,642	281,339
State and municipal obligations. \| Recurring
Financial Assets
Securities available-for-sale:	27,931	33,979
State and municipal obligations. \| Recurring \| Level 2 Inputs
Financial Assets
Securities available-for-sale:	$ 27,931	$ 33,979

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
Net income	$ 14,985	$ 39,481	$ 79,786	$ 112,497
Other comprehensive income (loss):
Change in net unrealized loss during the period	(4,374)	(39,692)	(17,967)	(142,980)
Reclassification adjustment for net losses included in net loss on sale of securities and other assets			1,447
Accretion of net unrealized loss on securities transferred to held-to-maturity	788	1,112	2,341	2,111
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense	(370)	(935)	(1,110)	(2,805)
Change in the net actuarial gain	518	997	1,553	2,992
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period	(246)	5,387	(771)	14,548
Reclassification adjustment for expense included in interest expense	293	(546)	279	(569)
Other comprehensive loss before income taxes	(3,391)	(33,677)	(14,228)	(126,703)
Deferred tax benefit	(863)	(10,591)	(1,694)	(39,848)
Total other comprehensive loss, net of tax	(2,528)	(23,086)	(12,534)	(86,855)
Total comprehensive income	$ 12,457	$ 16,395	$ 67,252	$ 25,642

SUBORDINATED DEBENTURES

9 Months Ended

Sep. 30, 2023

SUBORDINATED DEBENTURES.

SUBORDINATED DEBENTURES

13.SUBORDINATED DEBENTURES

On May 6, 2022, the Company issued $160.0 million aggregate principal amount of fixed-to-floating rate subordinated notes due 2032 (“the Notes”). The Notes are callable at par after five years, have a stated maturity of May 15, 2032 and bear interest at a fixed annual rate of 5.00% per year, payable semi-annually in arrears on May 15 and November 15 of each year, commencing on November 15, 2022. The last interest payment for the fixed rate period will be May 15, 2027. From and including May 15, 2027 to, but excluding the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the benchmark rate (which is expected to be Three-Month Term SOFR) plus 218-basis points, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, commencing on August 15, 2027.

The Company used the net proceeds of the offering for the repayment of $115.0 million of the Company’s 4.50% fixed-to-floating rate subordinated notes due 2027 on June 15, 2022, and $40.0 million of the Company’s 5.25% fixed-to-floating rate subordinated debentures due 2025 on June 30, 2022. The repayment of the subordinated notes due 2027 resulted in a pre-tax write-off of debt issuance costs of $740 thousand, which was recognized in loss on extinguishment of debt in non-interest expense.

The subordinated debentures totaled $200.2 million at September 30, 2023 and $200.3 million at December 31, 2022. Interest expense related to the subordinated debentures was $2.6 million during the three months ended September 30, 2023 and 2022, respectively. Interest expense related to the subordinated debentures was $7.7 million and $8.1 million during the nine months ended September 30, 2023 and 2022, respectively. The subordinated debentures are included in tier 2 capital (with certain limitations applicable) under current regulatory guidelines and interpretations.

DERIVATIVES AND HEDGING ACTIVITIES - Risk Participation and Credit Risk Related Contingent Features (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
DERIVATIVES AND HEDGING ACTIVITIES
Risk Participation Agreements, Liabilities, Notional Value	$ 94,000,000.0		$ 94,000,000.0		$ 71,100,000
Credit Risk Related Contingent Features [Abstract]
Number of provisions breached	0	0	0	0

LOANS HELD FOR INVESTMENT, NET - Past Due Status (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	$ 10,850,611,000	$ 10,566,831,000
Non-accrual	23,320,000	34,237,000
Accruing Loans 90 Days or More Past Due	0	0
Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	58,331,000	58,496,000
30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	22,961,000	23,517,000
60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	12,050,000	742,000
Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	10,792,280,000	10,508,335,000
Business loans
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,271,768,000	2,211,857,000
Non-accrual	19,555,000	27,787,000
Business loans \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	37,399,000	34,389,000
Business loans \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	16,693,000	5,861,000
Business loans \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	1,151,000	741,000
Business loans \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,234,369,000	2,177,468,000
One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	892,869,000	773,321,000
Non-accrual	2,874,000	3,203,000
One-to-four family residential and cooperative/condominium apartment \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	5,957,000	3,889,000
One-to-four family residential and cooperative/condominium apartment \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	439,000	686,000
One-to-four family residential and cooperative/condominium apartment \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,644,000
One-to-four family residential and cooperative/condominium apartment \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	886,912,000	769,432,000
Multifamily residential and residential mixed-use
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	4,102,024,000	4,026,826,000
Non-accrual	0
Multifamily residential and residential mixed-use \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	3,794,000	4,817,000
Multifamily residential and residential mixed-use \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,976,000	4,817,000
Multifamily residential and residential mixed-use \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	818,000
Multifamily residential and residential mixed-use \| Loans 90 Days or More Past Due and Still Accruing Interest
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	0
Multifamily residential and residential mixed-use \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	4,098,230,000	4,022,009,000
Non-owner-occupied commercial real estate
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	3,374,281,000	3,317,485,000
Non-owner-occupied commercial real estate \| Total real estate loans
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	3,374,281,000	3,317,485,000
Non-accrual	15,000	2,491,000
Non-owner-occupied commercial real estate \| Total real estate loans \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	9,653,000	14,380,000
Non-owner-occupied commercial real estate \| Total real estate loans \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,851,000	11,889,000
Non-owner-occupied commercial real estate \| Total real estate loans \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	6,787,000
Non-owner-occupied commercial real estate \| Total real estate loans \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	3,364,628,000	3,303,105,000
Acquisition, development, and construction ("ADC")
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	203,402,000	229,663,000
Non-accrual	657,000	657,000
Acquisition, development, and construction ("ADC") \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	1,307,000	657,000
Acquisition, development, and construction ("ADC") \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	0
Acquisition, development, and construction ("ADC") \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	650,000
Acquisition, development, and construction ("ADC") \| Loans 90 Days or More Past Due and Still Accruing Interest
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	0
Acquisition, development, and construction ("ADC") \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	202,095,000	229,006,000
Other Loans
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	6,267,000	7,679,000
Non-accrual	219,000	99,000
Other Loans \| Total Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	221,000	364,000
Other Loans \| 30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	2,000	264,000
Other Loans \| 60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	0	1,000
Other Loans \| Loans 90 Days or More Past Due and Still Accruing Interest
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	0
Other Loans \| Current
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Loans	$ 6,046,000	$ 7,315,000

STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2023

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

15.STOCK-BASED COMPENSATION

In May 2021, the Company’s shareholders approved the Dime Community Bancshares, Inc. 2021 Equity Incentive Plan (the “2021 Equity Incentive Plan”) to provide the Company with sufficient equity compensation to meet the objectives of appropriately incentivizing its officers, other employees, and directors to execute our strategic plan to build shareholder value, while providing appropriate shareholder protections. The Company no longer makes grants under the Legacy Stock Plans. Awards outstanding under the Legacy Stock Plans will continue to remain outstanding and subject to the terms and conditions of the Legacy Stock Plans. At September 30, 2023, there were 635,622 shares reserved for issuance under the 2021 Equity Incentive Plan.

Stock Option Awards

The following table presents a summary of activity related to stock options granted under the Legacy Stock Plans, and changes during the period then ended:


				Weighted-
				Average	Aggregate
		Weighted-		Remaining	Intrinsic
	Number of	Average Exercise		Contractual	Value
	Options	Price		Years	(In thousands)
Options outstanding at January 1, 2023	92,137	$	35.39	6.2		—
Options exercised	—		—
Options forfeited	—		—
Options outstanding at September 30, 2023	92,137	$	35.39	5.5	$	—
Options vested and exercisable at September 30, 2023	92,137	$	35.39	5.5	$	—

Information related to stock options during each period is as follows:

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Cash received for option exercise cost

—

Income tax (expense) benefit recognized on stock option exercises

—

Intrinsic value of options exercised

—

The range of exercise prices and weighted-average remaining contractual lives of both outstanding and vested options (by option exercise cost) as of September 30, 2023 were as follows:


	Outstanding Options		Vested Options
		Weighted		Weighted
		Average		Average
		Contractual		Contractual
		Years		Years
	Amount	Remaining	Amount	Remaining
Exercise Prices:
$34.87	35,671	6.4	35,671	6.4
$35.35	32,079	5.4	32,079	5.4
$36.19	24,387	4.4	24,387	4.4
Total	92,137	5.5	92,137	5.5

Restricted Stock Awards

The Company has made RSA grants to outside Directors and certain officers under the Legacy Stock Plans and the 2021 Equity Incentive Plan. Typically, awards to outside Directors fully vest on the first anniversary of the grant date, while awards to officers’ vest over a pre-determined requisite period. All awards were made at the fair value of the Company’s common stock on the grant date. Compensation expense on all RSAs is based upon the fair value of the shares on the respective dates of the grant.

The following table presents a summary of activity related to the RSAs granted, and changes during the period then ended:


		Weighted-
		Average
	Number of	Grant-Date
	Shares	Fair Value
Unvested allocated shares outstanding at January 1, 2023	350,758	$	28.63
Shares granted	220,750		25.47
Shares vested	(133,732)		29.34
Shares forfeited	(75,624)		26.43
Unvested allocated shares outstanding at September 30, 2023	362,152	$	26.89

Information related to RSAs during each period is as follows:

Three Months Ended

Nine Months Ended

September 30,

(Dollars in thousands)

2023

2022

2023

2022

Compensation expense recognized

604

1,035

2,924

2,823

Income tax (expense) benefit recognized on vesting of RSAs

(72)

(10)

(184)

178

As of September 30, 2023, there was $6.8 million of total unrecognized compensation cost related to unvested RSAs to be recognized over a weighted-average period of 1.9 years.

Performance-Based Share Awards

The Company maintains a long-term incentive award program (“LTIP”) for certain officers, which meets the criteria for equity-based accounting. For each award, threshold (50% of target), target (100% of target) and stretch (150% of target) opportunities are eligible to be earned over a three-year performance period based on the Company’s relative performance on certain goals that were established at the onset of the performance period and cannot be altered subsequently. Shares of common stock are issued on the grant date and held as unvested stock awards until the end of the performance period. Shares are issued at the stretch opportunity in order to ensure that an adequate number of shares are allocated for shares expected to vest at the end of the performance period. Compensation expense on PSAs is based upon the fair value of the shares on the date of the grant for the expected aggregate share payout as of the period end.

The following table presents a summary of activity related to the PSAs granted, and changes during the period then ended:


		Weighted-
		Average
	Number of	Grant-Date
	Shares	Fair Value
Maximum aggregate share payout at January 1, 2023	95,831	$	30.35
Shares granted	195,066		17.69
Shares forfeited	(60,987)		25.21
Maximum aggregate share payout at September 30, 2023	229,910	$	20.97
Minimum aggregate share payout	—		—
Expected aggregate share payout	210,820	$	20.21

Information related to PSAs during each period is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Compensation (benefit) expense recognized	$	(66)	$	193	$	274	$	570
Income tax expense recognized on vesting of PSAs		—		—		—		—

As of September 30, 2023, there was $3.1 million of total unrecognized compensation cost related to unvested PSAs based on the expected aggregate share payout to be recognized over a weighted-average period of 2.5 years.

LEASES (Tables)

9 Months Ended

Sep. 30, 2023

LEASES

Summary of maturities of operating lease liabilities


	Rent to be
(In thousands)	Capitalized
2023	$	3,242
2024		13,009
2025		12,833
2026		12,173
2027		10,217
Thereafter		10,557
Total undiscounted lease payments		62,031
Less amounts representing interest		(3,750)
Operating lease liabilities	$	58,281

Summary of other information related to operating leases

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Operating lease cost

3,236

3,336

9,529

9,869

Cash paid for amounts included in the measurement of operating lease liabilities

3,171

3,253

9,330

9,232


	September 30,		December 31,
	2023		2022
Weighted average remaining lease term	5.2	years	5.9	years
Weighted average discount rate	2.33	%	2.03	%

RETIREMENT AND POSTRETIREMENT PLANS - 401(K) Plan - (Details) - 401 K Plan - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Maximum contribution by employee, for the calendar year			$ 22,500
Percentage of match for first 1% of employee contributions			100.00%
Percentage of employee contribution on which 100% match by employer			1.00%
Percentage of match on next 1% of employee contributions			50.00%
Common stock within the accounts of participants	$ 4,800,000		$ 4,800,000
Total expense recognized as a component of salaries and employee benefits expense	$ 513,000	$ 509,000	$ 2,000,000.0	$ 1,800,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Percentage of employee contribution on which 50% match by employer			6.00%
Maximum Percentage of participating employee contribution			3.50%

DERIVATIVES AND HEDGING ACTIVITIES - Cash Flow Hedges Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) DerivativeInstrument	Sep. 30, 2023 USD ($) DerivativeInstrument	Dec. 31, 2022 USD ($)
DERIVATIVES AND HEDGING ACTIVITIES
Estimated reclassification as a decrease to interest expense during next twelve months	$ 7.2	$ 7.2
Number of derivatives terminated \| DerivativeInstrument	0	0
Collateral from its third-party counterparties under the agreements in a net asset position	$ 18.0	$ 18.0
Collateral received against obligations in net asset position			$ 17.8

LEASES - Maturities of the Company's operating lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Rent to be Capitalized
2023	$ 3,242
2024	13,009
2025	12,833
2026	12,173
2027	10,217
Thereafter	10,557
Total undiscounted lease payments	62,031
Less amounts representing interest	(3,750)
Operating lease liabilities	$ 58,281	$ 60,340

OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS

11.OTHER INTANGIBLE ASSETS

The following table presents the carrying amount and accumulated amortization of intangible assets that are amortizable.


(Dollars in thousands)
Core Deposit Intangibles	September 30, 2023		December 31, 2022
Gross carrying value	$	10,204	$	10,204
Accumulated amortization		(4,795)		(3,720)
Net carrying amount	$	5,409	$	6,484

Amortization expense recognized on intangible assets was $349 thousand and $1.1 million for the three and nine months ended September 30, 2023. Amortization expense recognized on intangible assets was $431 thousand and $1.4 million for the three and nine months ended September 30, 2022.

Estimated amortization expense for the remainder of 2023 through 2027 and thereafter is as follows:


(In thousands)		Total
2023	$	349
2024		1,164
2025		958
2026		795
2027		664
Thereafter		1,479
Total	$	5,409

RETIREMENT AND POSTRETIREMENT PLANS - Net periodic benefit (credit) cost for the Employee Retirement Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
BNB Bank Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 175	$ 267	$ 525	$ 802
Interest cost	$ 330	$ 195	$ 990	$ 585
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Expected return on assets	$ (687)	$ (857)	$ (2,062)	$ (2,572)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Net periodic credit	$ (182)	$ (395)	$ (547)	$ (1,185)
Employee Retirement Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 222	$ 155	$ 667	$ 465
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Expected return on assets	$ (382)	$ (490)	$ (1,147)	$ (1,470)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Amortization of unrealized loss	$ 147	$ 63	$ 442	$ 188
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other	Other	Other	Other
Net periodic credit	$ (13)	$ (272)	$ (38)	$ (817)
Retirement Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Contributions to the BNB Bank Pension Plan or the Employee Retirement Plan			$ 0

STOCK-BASED COMPENSATION - Restricted Stock Awards (Details) - Restricted Stock Awards - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted Stock Awards [Abstract]
Unrecognized compensation cost	$ 6,800		$ 6,800
Weighted average remaining years for which compensation expense is to be recognized			1 year 10 months 24 days
Number of Shares
Unvested allocated shares outstanding, beginning of period (in shares)			350,758
Shares granted (in shares)			220,750
Shares vested (in shares)			(133,732)
Shares forfeited (in shares)			(75,624)
Unvested allocated shares outstanding, end of period (in shares)	362,152		362,152
Weighted-Average Grant-Date Fair Value
Unvested allocated shares outstanding, beginning of period (in dollars per share)			$ 28.63
Shares granted (in dollars per share)			25.47
Shares vested (in dollars per share)			29.34
Shares forfeited (in dollars per share)			26.43
Unvested allocated shares outstanding, end of period (in dollars per share)	$ 26.89		$ 26.89
Information Related to RSAs
Compensation (benefit) expense recognized	$ 604	$ 1,035	$ 2,924	$ 2,823
Income tax (expense) benefit recognized on vesting of RSAs	$ (72)	$ (10)	$ (184)	$ 178

STOCK-BASED COMPENSATION - Stock Option Awards (Details) - Employee Stock Option [Member] $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Number of Options
Options outstanding, beginning of period (in shares) \| shares	92,137
Options outstanding, end of period (in shares) \| shares	92,137	92,137
Options vested and exercisable, end of period (in shares) \| shares	92,137
Weighted-Average Exercise Price
Options outstanding, beginning of period (in dollars per share) \| $ / shares	$ 35.39
Options outstanding, end of period (in dollars per share) \| $ / shares	35.39	$ 35.39
Options vested and exercisable. end of period (in dollars per share) \| $ / shares	$ 35.39
Weighted-Average Remaining Contractual Years
Outstanding options, weighted average remaining contractual years	5 years 6 months	6 years 2 months 12 days
Options vested and exercisable, weighted average remaining contractual years	5 years 6 months
Aggregate Intrinsic Value
Options outstanding \| $	$ 0	$ 0
Options vested and exercisable \| $	$ 0

SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

SECURITIES

Schedule of major categories of securities owned by entity

September 30, 2023

Gross

Amortized

Unrealized

Fair

(In thousands)

Cost

Gains

Losses

Value

Securities available-for-sale:

Agency notes

10,000

—

(857)

9,143

Treasury securities

246,135

—

(16,262)

229,873

Corporate securities

169,549

—

(28,462)

141,087

Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")

239,509

—

(33,306)

206,203

Agency collateralized mortgage obligations ("CMOs")

311,632

(56,011)

255,642

State and municipal obligations

30,845

—

(2,914)

27,931

Total securities available-for-sale

1,007,670

(137,812)

869,879

September 30, 2023

Gross

Amortized

Unrecognized

Fair

(In thousands)

Cost

Gains

Losses

Value

Securities held-to-maturity:

Agency notes

89,461

—

(15,305)

74,156

Corporate securities

9,000

—

(1,945)

7,055

Pass-through MBS issued by GSEs

283,258

—

(53,777)

229,481

Agency CMOs

218,572

—

(33,278)

185,294

Total securities held-to-maturity

600,291

—

(104,305)

495,986


	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Treasury securities	$	246,899	$	—	$	(19,643)	$	227,256
Corporate securities		183,791		57		(17,075)		166,773
Pass-through MBS issued by GSEs		272,774		—		(31,534)		241,240
Agency CMOs		331,394		2		(50,057)		281,339
State and municipal obligations		37,000		—		(3,021)		33,979
Total securities available-for-sale	$	1,071,858	$	59	$	(121,330)	$	950,587

	December 31, 2022
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,157	$	—	$	(14,095)	$	75,062
Corporate securities		9,000		—		(553)		8,447
Pass-through MBS issued by GSEs		278,281		—		(40,960)		237,321
Agency CMOs		209,360		—		(24,431)		184,929
Total securities held-to-maturity	$	585,798	$	—	$	(80,039)	$	505,759

Schedule of amortized cost and fair value of debt securities


	September 30, 2023
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	83,132	$	80,015
One to five years		206,284		188,885
Five to ten years		167,113		139,134
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		551,141		461,845
Total	$	1,007,670	$	869,879

Held-to-maturity
Within one year	$	—	$	—
One to five years		19,772		17,743
Five to ten years		78,689		63,468
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		501,830		414,775
Total	$	600,291	$	495,986

Summary of sale of available-for-sale securities


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Securities available-for-sale
Proceeds	$	—	$	—	$	77,804	$	—
Gross gains		—		—		130		—
Tax expense on gains		—		—		39		—
Gross losses		—		—		1,577		—
Tax benefit on losses		—		—		467		—

Schedule of gross unrealized losses and fair value of investment securities by investment category and length of time in a continuous unrealized loss position

September 30, 2023

Less than 12

12 Consecutive

Consecutive Months

Months or Longer

Total

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

(In thousands)

Value

Losses

Value

Losses

Value

Losses

Securities available-for-sale:

Agency notes

—

9,143

857

9,143

857

Treasury securities

—

229,873

16,262

229,873

16,262

Corporate securities

19,118

2,248

121,969

26,214

141,087

28,462

Pass-through MBS issued by GSEs

904

205,299

33,294

206,203

33,306

Agency CMOs

2,427

248,193

55,970

250,620

56,011

State and municipal obligations

1,713

137

26,218

2,777

27,931

2,914


	December 31, 2022
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Treasury securities	$	—	$	—	$	227,256	$	19,643	$	227,256	$	19,643
Corporate securities		110,707		8,494		50,116		8,581		160,823		17,075
Pass-through MBS issued by GSEs		50,813		2,010		190,427		29,524		241,240		31,534
Agency CMOs		55,924		3,454		220,413		46,603		276,337		50,057
State and municipal obligations		10,848		174		22,681		2,847		33,529		3,021

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

SECURITIES - Amortized Cost and Fair Value By Contractual Maturity, Held-to-maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Held-to-maturity, Amortized Cost
One to five years	$ 19,772
Five to ten years	78,689
Pass-through MBS issued by GSEs and agency CMO	501,830
Total Amortized Cost	600,291
Held-to-maturity, Fair Value
One to five years	17,743
Five to ten years	63,468
Pass-through MBS issued by GSEs and agency CMO	414,775
Total Fair Value	$ 495,986	$ 505,759

LOANS HELD FOR INVESTMENT, NET (Tables)

9 Months Ended

Sep. 30, 2023

LOANS HELD FOR INVESTMENT, NET

Schedule of loan categories


(In thousands)	September 30, 2023		December 31, 2022
Business loans⁽¹⁾	$	2,271,768	$	2,211,857
One-to-four family residential and cooperative/condominium apartment		892,869		773,321
Multifamily residential and residential mixed-use		4,102,024		4,026,826
Non-owner-occupied commercial real estate		3,374,281		3,317,485
Acquisition, development, and construction ("ADC")		203,402		229,663
Other loans		6,267		7,679
Total		10,850,611		10,566,831
Allowance for credit losses		(72,563)		(83,507)
Loans held for investment, net	$	10,778,048	$	10,483,324

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

Schedule of activity in allowance for loan losses

At or for the Three Months Ended September 30, 2023

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Non-Owner-Occupied

Business

Condominium

Residential

Commercial

Other

(In thousands)

Loans

Apartment

Mixed-Use

Real Estate

ADC

Loans

Total

Allowance for credit losses:

Beginning balance

39,700

6,419

8,190

18,440

2,558

339

75,646

(Credit) provision for credit losses

1,822

787

(621)

(10)

(220)

1,781

Charge-offs

(5,147)

—

(2)

—

(26)

(5,175)

Recoveries

305

—

311

Ending balance

36,680

7,206

7,567

18,430

2,338

342

72,563


	At or for the Three Months Ended September 30, 2022
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	45,128	$	4,514	$	7,003	$	18,707	$	3,788	$	286	$	79,426
(Credit) provision for credit losses		3,246		544		1,051		1,800		(169)		(32)		6,440
Charge-offs		(5,462)		—		—		—		—		(49)		(5,511)
Recoveries		1,580		—		—		—		—		—		1,580
Ending balance	$	44,492	$	5,058	$	8,054	$	20,507	$	3,619	$	205	$	81,935

At or for the Nine Months Ended September 30, 2023

Real Estate Loans

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Non-Owner-Occupied

Business

Condominium

Residential

Commercial

Other

(In thousands)

Loans

Apartment

Mixed-Use

Real Estate

ADC

Loans

Total

Allowance for credit losses:

Beginning balance

47,029

5,969

8,360

20,153

1,723

273

83,507

Provision (recovery) for credit losses

(328)

1,251

(791)

(1,723)

615

116

(860)

Charge-offs

(10,921)

(14)

(2)

—

(60)

(10,997)

Recoveries

900

—

913

Ending balance

36,680

7,206

7,567

18,430

2,338

342

72,563


	At or for the Nine Months Ended September 30, 2022
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	62,366	$	5,932	$	7,816	$	2,131	$	4,857	$	751	$	83,853
(Recovery) provision for credit losses		(10,799)		(874)		236		18,322		(1,238)		(495)		5,152
Charge-offs		(8,742)		—		—		—		—		(52)		(8,794)
Recoveries		1,667		—		2		54		—		1		1,724
Ending balance	$	44,492	$	5,058	$	8,054	$	20,507	$	3,619	$	205	$	81,935

Schedule of financing receivable, nonaccrual


	September 30, 2023
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	3,809	$	15,746	$	14,065
One-to-four family residential and cooperative/condominium apartment		—		2,874		140
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		—		15		15
Acquisition, development, and construction		—		657		305
Other loans		—		219		219
Total	$	3,809	$	19,511	$	14,744


	December 31, 2022
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	5,403	$	22,384	$	20,812
One-to-four family residential and cooperative/condominium apartment		—		3,203		181
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		15		2,476		1,297
Acquisition, development, and construction		657		—		—
Other loans		—		99		99
Total	$	6,075	$	28,162	$	22,389

Schedule of past due financing receivables

The following tables summarize the past due status of the Company’s investment in loans as of the dates indicated:

September 30, 2023

Loans 90

Days or

Total

30 to 59

60 to 89

More Past Due

Past Due

Days

and Still

and

Total

(In thousands)

Past Due

Accruing Interest

Non-accrual

Current

Loans

Business loans

16,693

1,151

—

19,555

37,399

2,234,369

2,271,768

One-to-four family residential, including condominium and cooperative apartment

439

2,644

—

2,874

5,957

886,912

892,869

Multifamily residential and residential mixed-use

2,976

818

—

3,794

4,098,230

4,102,024

Non-owner-occupied commercial real estate

2,851

6,787

—

9,653

3,364,628

3,374,281

Acquisition, development, and construction

—

650

—

657

1,307

202,095

203,402

Other

—

219

221

6,046

6,267

Total

22,961

12,050

—

23,320

58,331

10,792,280

10,850,611


	December 31, 2022
					Loans 90
					Days or				Total
	30 to 59		60 to 89		More Past Due				Past Due
	Days		Days		and Still				and				Total
(In thousands)	Past Due		Past Due		Accruing Interest		Non-accrual		Non-accrual		Current		Loans
Business loans	$	5,861	$	741	$	—	$	27,787	$	34,389	$	2,177,468	$	2,211,857
One-to-four family residential, including condominium and cooperative apartment		686		—		—		3,203		3,889		769,432		773,321
Multifamily residential and residential mixed-use		4,817		—		—		—		4,817		4,022,009		4,026,826
Non-owner-occupied commercial real estate		11,889		—		—		2,491		14,380		3,303,105		3,317,485
Acquisition, development, and construction		—		—		—		657		657		229,006		229,663
Other		264		1		—		99		364		7,315		7,679
Total	$	23,517	$	742	$	—	$	34,237	$	58,496	$	10,508,335	$	10,566,831

Schedule of collateral dependent loans


	September 30, 2023				December 31, 2022
	Real Estate		Associated Allowance		Real Estate		Associated Allowance
(In thousands)	Collateral Dependent		for Credit Losses		Collateral Dependent		for Credit Losses
Business loans	$	3,771	$	—	$	5,849	$	—
One-to-four family residential, including condominium and cooperative apartment		—		—		—		—
Multifamily residential and residential mixed-use		—		—		—		—
Non-owner-occupied commercial real estate		—		—		2,491		1,297
Acquisition, development, and construction		657		305		657		—
Other		—		—		—		—
Total	$	4,428	$	305	$	8,997	$	1,297

Schedule of amortized cost basis of loans modified to borrowers


	For the Three Months Ended September 30, 2023


			Significant		Term Extension		Significant Payment Delay				% of Total Class
	Term		Payment		and Significant		and Interest				of Financing
(Dollars in thousands)	Extension		Delay		Payment Delay		Rate Reduction		Total		Receivable
Business loans	$	—	$	9,290	$	—	$	29	$	9,319	0.4	%
One-to-four family residential, including condominium and cooperative apartment		—		—		—		—		—	0.0
Multifamily residential and residential mixed-use		—		—		—		—		—	0.0
Non-owner-occupied commercial real estate		—		24,705		—		—		24,705	0.7
Acquisition, development, and construction		—		—		—		—		—	0.0
Other		—		—		—		—		—	0.0
Total	$	—	$	33,995	$	—	$	29	$	34,024	0.3	%

	For the Nine Months Ended September 30, 2023


			Significant		Term Extension		Significant Payment Delay				% of Total Class
	Term		Payment		and Significant		and Interest				of Financing
(Dollars in thousands)	Extension		Delay		Payment Delay		Rate Reduction		Total		Receivable
Business loans	$	126	$	9,290	$	471	$	301	$	10,188	0.4	%
One-to-four family residential, including condominium and cooperative apartment		—		2,854		—		—		2,854	0.3
Multifamily residential and residential mixed-use		—		—		—		—		—	0.0
Non-owner-occupied commercial real estate		—		24,705		—		—		24,705	0.7
Acquisition, development, and construction		—		—		—		—		—	0.0
Other		—		—		—		—		—	0.0
Total	$	126	$	36,849	$	471	$	301	$	37,747	0.3	%

Schedule of financial effect of loans modified to borrowers

The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty:


	For the Three Months Ended September 30, 2023
					Weighted Average
	Weighted Average		Weighted Average		Payment Delay
	Interest Rate		Months of		or Principal
(Dollars in thousands)	Reductions		Term Extensions		Forgiveness
Business loans	4.50	%	$	—	$	1,417
One-to-four family residential, including condominium and cooperative apartment	—			—		—
Multifamily residential and residential mixed-use	—			—		—
Non-owner-occupied commercial real estate	—			—		988
Acquisition, development, and construction	—			—		—
Other loans	—			—		—
Total	4.50	%	$	—	$	2,405


	For the Nine Months Ended September 30, 2023
					Weighted Average
	Weighted Average		Weighted Average		Payment Delay
	Interest Rate		Months of		or Principal
(Dollars in thousands)	Reductions		Term Extensions		Forgiveness
Business loans	4.27	%	$	20	$	1,314
One-to-four family residential, including condominium and cooperative apartment	—			—		72
Multifamily residential and residential mixed-use	—			—		—
Non-owner-occupied commercial real estate	—			—		988
Acquisition, development, and construction	—			—		—
Other loans	—			—		—
Total	4.27	%	$	20	$	2,374

Schedule of performance of loans that have been modified

September 30, 2023

30-59

60-89

90+

(Dollars in thousands)

Current

Days Past Due

Non-Accrual

Total

Business loans

9,290

—

898

10,188

One-to-four family residential, including condominium and cooperative apartment

2,854

—

2,854

Multifamily residential and residential mixed-use

—

Non-owner-occupied commercial real estate

24,705

—

24,705

Acquisition, development, and construction

—

Other loans

—

Total

36,849

—

898

37,747

Schedule of loans by class modified as trouble debt restructurings


	Modifications During the Year Ended December 31, 2022
			Pre-		Post-
			Modification		Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
(Dollars in thousands)	Loans		Investment		Investment
Business loans	7	$	21,934	$	21,938
One-to-four family residential, including condominium and cooperative apartment	2		762		762
Multifamily residential and residential mixed-use	—		—		—
Non-owner-occupied commercial real estate	1		991		991
Acquisition, development, and construction	1		13,500		13,500
Other	1		276		276
Total	12	$	37,463	$	37,467

Schedule of Credit risk profile of the real estate loans


	September 30, 2023
(In thousands)	2023		2022		2021		2020		2019		2018 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	197,831	$	428,588	$	199,606	$	167,826	$	159,084	$	316,910	$	640,980	$	39,015	$	2,149,840
Special mention		506		3,184		1,279		923		4,850		13,541		22,962		9,125		56,370
Substandard		1		1,950		2,446		6,845		2,737		30,088		8,290		8,286		60,643
Doubtful		—		—		—		—		4,166		749		—		—		4,915
Total business loans		198,338		433,722		203,331		175,594		170,837		361,288		672,232		56,426		2,271,768
YTD Gross Charge-Offs		—		—		77		38		4,166		2,229		1,021		3,390		10,921

One-to-four family residential, and condominium/cooperative apartment:
Pass		161,750		217,184		103,310		69,919		63,299		215,385		33,259		12,825		876,931
Special mention		—		—		—		—		—		756		159		710		1,625
Substandard		—		—		—		1,010		1,218		11,299		—		786		14,313
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		161,750		217,184		103,310		70,929		64,517		227,440		33,418		14,321		892,869
YTD Gross Charge-Offs		—		—		—		—		—		—		—		14		14

Multifamily residential and residential mixed-use:
Pass		244,041		1,367,753		589,048		285,272		389,601		1,086,015		12,715		4,340		3,978,785
Special mention		—		—		4,223		22,096		3,905		30,476		—		—		60,700
Substandard		—		—		—		10,656		5,109		46,774		—		—		62,539
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		244,041		1,367,753		593,271		318,024		398,615		1,163,265		12,715		4,340		4,102,024
YTD Gross Charge-Offs		—		—		—		—		—		2		—		—		2

Non-owner-occupied commercial real estate
Pass		196,881		728,514		667,899		478,381		358,916		782,593		11,237		7,987		3,232,408
Special mention		—		—		—		78,099		4,585		14,757		—		—		97,441
Substandard		—		—		15		25,740		6,285		12,392		—		—		44,432
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		196,881		728,514		667,914		582,220		369,786		809,742		11,237		7,987		3,374,281
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Acquisition, development, and construction
Pass		7,668		51,454		81,045		7,647		15,644		495		23,597		238		187,788
Special mention		—		—		14,957		—		—		—		—		—		14,957
Substandard		—		—		657		—		—		—		—		—		657
Doubtful		—		—		—		—		—		—		—		—		—
Total acquisition, development, and construction		7,668		51,454		96,659		7,647		15,644		495		23,597		238		203,402
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Total:
Pass		808,171		2,793,493		1,640,908		1,009,045		986,544		2,401,398		721,788		64,405		10,425,752
Special mention		506		3,184		20,459		101,118		13,340		59,530		23,121		9,835		231,093
Substandard		1		1,950		3,118		44,251		15,349		100,553		8,290		9,072		182,584
Doubtful		—		—		—		—		4,166		749		—		—		4,915
Total Loans	$	808,678	$	2,798,627	$	1,664,485	$	1,154,414	$	1,019,399	$	2,562,230	$	753,199	$	83,312	$	10,844,344
YTD Gross Charge-Offs	$	—	$	—	$	77	$	38	$	4,166	$	2,231	$	1,021	$	3,404	$	10,937


	December 31, 2022
(In thousands)	2022		2021		2020		2019		2018		2017 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	449,699	$	228,143	$	187,522	$	173,527	$	130,576	$	240,131	$	650,960	$	43,552	$	2,104,110
Special mention		6,634		-		894		1,529		15,893		4,213		9,062		478		38,703
Substandard		5,242		1,380		8,843		4,706		2,101		14,938		11,290		9,412		57,912
Doubtful		—		—		—		8,332		752		2,048		—		—		11,132
Total business loans		461,575		229,523		197,259		188,094		149,322		261,330		671,312		53,442		2,211,857
YTD Gross Charge-Offs		—		477		4,720		2,088		—		2,414		1,460		242		11,401

One-to-four family residential, and condominium/cooperative apartment:
Pass		225,031		108,185		72,732		65,515		66,038		164,338		41,172		12,563		755,574
Special mention		—		—		—		—		735		1,175		579		726		3,215
Substandard		—		—		1,026		1,227		407		10,779		—		1,093		14,532
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		225,031		108,185		73,758		66,742		67,180		176,292		41,751		14,382		773,321
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Multifamily residential and residential mixed-use:
Pass		1,386,549		582,393		316,424		395,933		127,074		1,107,281		12,584		—		3,928,238
Special mention		—		—		—		11,183		—		14,168		—		—		25,351
Substandard		—		—		12,294		7,001		20,311		33,631		—		—		73,237
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		1,386,549		582,393		328,718		414,117		147,385		1,155,080		12,584		—		4,026,826
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Non-owner-occupied commercial real estate
Pass		747,272		662,608		608,133		373,835		198,317		661,311		11,963		3,453		3,266,892
Special mention		—		—		19,655		4,652		—		12,108		—		—		36,415
Substandard		—		15		1,070		6,209		—		6,884		—		—		14,178
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		747,272		662,623		628,858		384,696		198,317		680,303		11,963		3,453		3,317,485
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Acquisition, development, and construction
Pass		36,877		152,543		11,242		15,943		—		2,087		10,033		281		229,006
Special mention		—		—		—		—		—		—		—		—		—
Substandard		—		657		—		—		—		—		—		—		657
Doubtful		—		—		—		—		—		—		—		—		—
Total acquisition, development, and construction		36,877		153,200		11,242		15,943		—		2,087		10,033		281		229,663
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Total:
Pass		2,845,428		1,733,872		1,196,053		1,024,753		522,005		2,175,148		726,712		59,849		10,283,820
Special mention		6,634		—		20,549		17,364		16,628		31,664		9,641		1,204		103,684
Substandard		5,242		2,052		23,233		19,143		22,819		66,232		11,290		10,505		160,516
Doubtful		—		—		—		8,332		752		2,048		—		—		11,132
Total Loans	$	2,857,304	$	1,735,924	$	1,239,835	$	1,069,592	$	562,204	$	2,275,092	$	747,643	$	71,558	$	10,559,152
YTD Gross Charge-Offs	$	—	$	477	$	4,720	$	2,088	$	—	$	2,414	$	1,460	$	242	$	11,401


(In thousands)	September 30, 2023		December 31, 2022
Performing	$	6,048	$	7,580
Non-accrual		219		99
Total	$	6,267	$	7,679

LOANS HELD FOR INVESTMENT, NET - Financial effect of the modifications to borrowers experiencing financial difficulty (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Interest Rate Reductions	4.50%	4.27%
Weighted Average months of Term Extensions		20 months
Weighted Average Payment Delay or Principal Forgiveness	$ 2,405	$ 2,374
Business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Interest Rate Reductions	4.50%	4.27%
Weighted Average months of Term Extensions		20 months
Weighted Average Payment Delay or Principal Forgiveness	$ 1,417	$ 1,314
One-to-four family residential and cooperative/condominium apartment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Payment Delay or Principal Forgiveness		72
Non-owner-occupied commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted Average Payment Delay or Principal Forgiveness	$ 988	$ 988

BASIS OF PRESENTATION (Details)	1 Months Ended	9 Months Ended
BASIS OF PRESENTATION (Details)	Sep. 30, 2021 subsidiary	Sep. 30, 2023 location
SUMMARY OF ACCOUNTING POLICIES
Number of real estate investments dissolved \| subsidiary	2
Number of branch locations \| location		60

DERIVATIVES AND HEDGING ACTIVITIES - Classification on Consolidated Statements of Financial Condition (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) DerivativeInstrument	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) DerivativeInstrument	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) DerivativeInstrument
Cash Flow Hedges
Collateral received against obligations in net asset position					$ 17,800,000
Not Designated as Hedging Instrument
Cash Flow Hedges
Loan level derivative income	$ 783,000	$ 549,000	$ 6,353,000	$ 2,240,000
Interest Rate Swaps Related to FHLBNY Advances \| Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	4		4		4
Notional amount, assets	$ 150,000,000		$ 150,000,000		$ 150,000,000
Fair value assets	$ 16,657,000		$ 16,657,000		$ 17,150,000
Loan Level Interest Rate Swaps with Borrower (Assets) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	4		4		3
Notional amount, assets	$ 34,050,000		$ 34,050,000		$ 53,311,000
Fair value assets	$ 360,000		$ 360,000		$ 1,524,000
Loan Level Interest Rate Swaps with Borrower (Liabilities) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, liabilities \| DerivativeInstrument	219		219		185
Notional amount, liabilities	$ 1,549,816,000		$ 1,549,816,000		$ 1,214,736,000
Fair value liabilities	158,976,000		158,976,000		$ 126,751,000
Posted collateral	$ 0		$ 0
Loan level interest rate floors with borrower \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	3		3
Notional amount, assets	$ 17,625,000		$ 17,625,000
Loan level interest rate floors with borrower (liabilities) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, liabilities \| DerivativeInstrument	25		25		40
Notional amount, liabilities	$ 178,032,000		$ 178,032,000		$ 326,309,000
Fair value liabilities	1,376,000		1,376,000		9,060,000
Loan level interest rate swaps with third party counterparties (assets) \| Designated as Hedging Instrument
Cash Flow Hedges
Posted collateral	$ 0		$ 0		$ 0
Loan level interest rate swaps with third party counterparties (assets) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument					185
Count, liabilities \| DerivativeInstrument	219		219
Notional amount, assets	$ 1,549,816,000		$ 1,549,816,000		$ 1,214,736,000
Fair value assets	158,976,000		158,976,000		126,751,000
Posted collateral	0		0		0
Collateral received against obligations in net asset position	$ 167,600,000		$ 167,600,000		$ 135,300,000
Loan level interest rate swaps with third party counterparties (liabilities) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	4		4
Count, liabilities \| DerivativeInstrument					3
Notional amount, assets	$ 34,050,000		$ 34,050,000
Notional amount, liabilities					$ 53,311,000
Fair value liabilities	$ 360,000		$ 360,000		$ 1,524,000
Loan level interest rate floors with third party counterparties (assets) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument					40
Notional amount, assets					$ 326,309,000
Fair value assets					$ 9,060,000
Loan level interest rate floors with third party counterparties \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, liabilities \| DerivativeInstrument	3		3
Notional amount, assets	$ 17,625,000		$ 17,625,000
Loan level interest rate floors with third party counterparties (liabilities) \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, liabilities \| DerivativeInstrument	25		25
Notional amount, assets	$ 178,032,000		$ 178,032,000
Fair value assets	$ 1,376,000		$ 1,376,000

LOANS HELD FOR INVESTMENT, NET - Performance of Loans that have been Modified (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 34,024	$ 37,747
Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		36,849
Non-Accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		898
Business loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	9,319	10,188
Business loans \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		9,290
Business loans \| Non-Accrual
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		898
One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		2,854
One-to-four family residential and cooperative/condominium apartment \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		2,854
Non-owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 24,705	24,705
Non-owner-occupied commercial real estate \| Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		$ 24,705

STOCK-BASED COMPENSATION (Details)	Sep. 30, 2023 shares
2021 Equity Incentive Plan
STOCK-BASED COMPENSATION
Shares reserved for issuance	635,622

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(2)(iii)(02)
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (f)(2)(iii)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

STOCK-BASED COMPENSATION - Performance Based Equity Awards (Details) - Performance Shares - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Performance Based Equity Awards [Abstract]
Percentage of threshold target for each award eligible to be earned based on relative performance			50.00%
Percentage of target for each award eligible to be earned based on relative performance			100.00%
Percentage of maximum target for each award eligible to be earned based on relative performance			150.00%
Award vesting period			3 years
Number of Shares
Shares granted, Number of Shares			195,066
Shares forfeited (in shares)			(60,987)
Minimum aggregate share payout, Number of Shares			0
Expected aggregate share payout, Number of Shares			210,820
Weighted-Average Grant-Date Fair Value
Shares granted, Weighted-Average Grant-Date Fair Value			$ 17.69
Shares forfeited, Weighted-Average Grant-Date Fair Value			25.21
Minimum aggregate share payout, Weighted-Average Grant-Date Fair Value			0
Expected aggregate share payout, Weighted-Average Grant-Date Fair Value			$ 20.21
Information related to PSAs
Compensation (benefit) expense recognized	$ (66)	$ 193	$ 274	$ 570
Unrecognized compensation cost	$ 3,100		$ 3,100
Weighted average remaining years for which compensation expense is to be recognized			2 years 6 months
Maximum
Number of Shares
Maximum aggregate share payout beginning balance, Number of Shares			95,831
Maximum aggregate share payout ending balance, Number of Shares	229,910		229,910
Weighted-Average Grant-Date Fair Value
Maximum aggregate share payout beginning balance, Weighted-Average Grant-Date Fair Value			$ 30.35
Maximum aggregate share payout ending balance, Weighted-Average Grant-Date Fair Value	$ 20.97		$ 20.97

SECURITIES - Amortized Cost and Fair Value By Contractual Maturity, Available-for-sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available-for-sale, Amortized Cost
Within one year	$ 83,132
One to five years	206,284
Five to ten years	167,113
Pass-through MBS issued by GSEs and Agency CMO	551,141
Amortized Cost	1,007,670	$ 1,071,858
Available for sale, Fair Value
Within one year	80,015
One to five years	188,885
Five to ten years	139,134
Pass-through MBS issued by GSEs and Agency CMO	461,845
Total Fair Value	$ 869,879	$ 950,587

SUMMARY OF ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF ACCOUNTING POLICIES (Policies)	Sep. 30, 2023
SUMMARY OF ACCOUNTING POLICIES
Nature of Operations and Principles of Consolidation	In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair presentation of the Company’s financial condition as of September 30, 2023 and December 31, 2022, the results of operations and statements of comprehensive income for the three and nine months ended September 30, 2023 and 2022, the changes in stockholders’ equity for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022.
Adoption of Recent Accounting Standards	Adoption of Recent Accounting Standards ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method On March 28, 2022, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method. The purpose of this updated guidance is to further align risk management objectives with hedge accounting results on the application of the last-of-layer method, which was first introduced in ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2022-01 became effective for public business entities for fiscal years beginning after December 15, 2022, with early adoption in the interim period, permitted. For entities who have already adopted ASU 2017-12, immediate adoption is allowed. This ASU became effective for the Company on January 1, 2023, on a prospective basis; therefore, there was no impact to the consolidated financial statements. ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ASU 2022-02 eliminates troubled debt restructuring (“TDR”) recognition and measurement guidance and, instead, requires that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. ASU 2022-02 enhances existing disclosure requirements and introduces new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. For entities that have adopted the amendments of ASU 2016-13, the amendments in ASU 2022-02 are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This ASU became effective for the Company on January 1, 2023. The Company adopted ASU 2022-02 on its effective date using the modified retrospective method. The adoption of ASU 2022-02 did not have a material impact on the Company's consolidated financial statements. ASU 2020-04, Reference Rate Reform (Topic 848) ASU 2020-04 provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. ASU 2020-04 also provides numerous optional expedients for derivative accounting. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. Once optional expedients are elected, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic within the Codification. As of July 1, 2023, the Company has transitioned LIBOR based transactions to other indexes. The LIBOR transition is not anticipated to have a material effect on the Company's consolidated financial statements. ASU 2021-01, Reference Rate Reform (Topic 848): Scope ASU 2021-01 clarifies that all derivative instruments affected by changes to the interest rates used for discounting, margining, or contract price alignment due to reference rate reform are in the scope of ASC 848. Entities may apply certain optional expedients in ASC 848 to derivative instruments that do not reference LIBOR or another rate expected to be discontinued as a result of reference rate reform if there is a change to the interest rate used for discounting, margining or contract price alignment. ASU 2021-01 became effective upon issuance and generally can be applied through December 31, 2022. As of July 1, 2023, the Company has transitioned LIBOR based derivatives to other indexes such as fallback rate SOFR. The LIBOR transition is not anticipated to have a material effect on the Company's consolidated financial statements.

SECURITIES - Sales Information and Marketable Equity Securities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Sales of Available-for-sale Securities:
Proceeds from sales of securities available-for-sale			$ 77,804,000
Sales of securities held-to-maturity	$ 0	$ 0	0	$ 0
US Government Agencies Debt Securities [Member]
Sales of Available-for-sale Securities:
Proceeds from sales of securities available-for-sale			77,804,000
Gross gains			130,000
Tax expense on gains			39,000
Gross losses			1,577,000
Tax benefit on losses			$ 467,000

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Loans	$ 142,995	$ 106,306	$ 409,744	$ 285,828
Securities	7,916	7,374	24,261	21,572
Other short-term investments	6,930	847	16,599	1,956
Total interest income	157,841	114,527	450,604	309,356
Interest expense:
Deposits and escrow	62,507	10,154	152,395	16,416
Borrowed funds	16,925	3,483	50,855	9,334
Derivative cash collateral	1,930	452	4,904	547
Total interest expense	81,362	14,089	208,154	26,297
Net interest income	76,479	100,438	242,450	283,059
Provision (recovery) for credit losses	1,806	6,587	(950)	5,039
Net interest income after provision (recovery) for credit losses	74,673	93,851	243,400	278,020
Non-interest income:
Service charges and other fees	3,963	3,866	12,633	12,261
Title fees	291	474	829	1,578
Loan level derivative income	783	549	6,353	2,240
BOLI income	2,317	2,177	7,332	8,159
Gain on sale of Small Business Administration ("SBA") loans	335	211	1,061	1,176
Gain on sale of residential loans	21	54	103	393
Loss on equity securities	(299)		(1,079)
Net loss on sale of securities and other assets	(22)	1,397	(1,469)	1,397
Other	539	634	1,571	1,485
Total non-interest income	7,928	9,362	27,334	28,689
Non-interest expense:
Salaries and employee benefits	30,520	29,188	87,054	88,476
Severance	8,562		9,068	2,193
Occupancy and equipment	7,277	7,884	21,794	22,864
Data processing costs	4,309	3,434	12,744	11,152
Marketing	2,079	1,531	5,016	4,341
Professional services	1,277	2,116	4,876	6,238
Federal deposit insurance premiums	1,866	800	5,613	3,100
Loss from extinguishment of debt				740
Amortization of other intangible assets	349	431	1,075	1,447
Other	3,284	2,918	11,944	9,477
Total non-interest expense	59,523	48,302	159,184	150,028
Income before income taxes	23,078	54,911	111,550	156,681
Income tax expense	8,093	15,430	31,764	44,184
Net income	14,985	39,481	79,786	112,497
Preferred stock dividends	1,822	1,822	5,465	5,465
Net income available to common stockholders	$ 13,163	$ 37,659	$ 74,321	$ 107,032
Earnings per common share:
Basic (in dollars per share)	$ 0.34	$ 0.98	$ 1.92	$ 2.74
Diluted (in dollars per share)	$ 0.34	$ 0.98	$ 1.92	$ 2.74

SECURITIES - Available-for-sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Securities available-for-sale:
Amortized Cost	$ 1,007,670	$ 1,071,858
Gross Unrealized Gains	21	59
Gross Unrealized Losses	(137,812)	(121,330)
Fair Value	869,879	950,587
Agency notes
Securities available-for-sale:
Amortized Cost	10,000
Gross Unrealized Losses	(857)
Fair Value	9,143
Treasury securities
Securities available-for-sale:
Amortized Cost	246,135	246,899
Gross Unrealized Losses	(16,262)	(19,643)
Fair Value	229,873	227,256
Corporate securities
Securities available-for-sale:
Amortized Cost	169,549	183,791
Gross Unrealized Gains		57
Gross Unrealized Losses	(28,462)	(17,075)
Fair Value	141,087	166,773
Pass-through MBS issued by GSEs
Securities available-for-sale:
Amortized Cost	239,509	272,774
Gross Unrealized Losses	(33,306)	(31,534)
Fair Value	206,203	241,240
Agency CMOs
Securities available-for-sale:
Amortized Cost	311,632	331,394
Gross Unrealized Gains	21	2
Gross Unrealized Losses	(56,011)	(50,057)
Fair Value	255,642	281,339
State and municipal obligations.
Securities available-for-sale:
Amortized Cost	30,845	37,000
Gross Unrealized Losses	(2,914)	(3,021)
Fair Value	$ 27,931	$ 33,979

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
INCOME TAXES (Details)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES
Effective tax rate	35.10%	28.10%	28.50%	28.20%

LOANS HELD FOR INVESTMENT, NET

9 Months Ended

Sep. 30, 2023

LOANS HELD FOR INVESTMENT, NET

LOANS HELD FOR INVESTMENT, NET

7.LOANS HELD FOR INVESTMENT, NET

The following table presents the loan categories for the period ended as indicated:


(In thousands)	September 30, 2023		December 31, 2022
Business loans⁽¹⁾	$	2,271,768	$	2,211,857
One-to-four family residential and cooperative/condominium apartment		892,869		773,321
Multifamily residential and residential mixed-use		4,102,024		4,026,826
Non-owner-occupied commercial real estate		3,374,281		3,317,485
Acquisition, development, and construction ("ADC")		203,402		229,663
Other loans		6,267		7,679
Total		10,850,611		10,566,831
Allowance for credit losses		(72,563)		(83,507)
Loans held for investment, net	$	10,778,048	$	10,483,324

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

The following tables present data regarding the allowance for credit losses activity for the periods indicated:

At or for the Three Months Ended September 30, 2023

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Non-Owner-Occupied

Business

Condominium

Residential

Commercial

Other

(In thousands)

Loans

Apartment

Mixed-Use

Real Estate

ADC

Loans

Total

Allowance for credit losses:

Beginning balance

39,700

6,419

8,190

18,440

2,558

339

75,646

(Credit) provision for credit losses

1,822

787

(621)

(10)

(220)

1,781

Charge-offs

(5,147)

—

(2)

—

(26)

(5,175)

Recoveries

305

—

311

Ending balance

36,680

7,206

7,567

18,430

2,338

342

72,563


	At or for the Three Months Ended September 30, 2022
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	45,128	$	4,514	$	7,003	$	18,707	$	3,788	$	286	$	79,426
(Credit) provision for credit losses		3,246		544		1,051		1,800		(169)		(32)		6,440
Charge-offs		(5,462)		—		—		—		—		(49)		(5,511)
Recoveries		1,580		—		—		—		—		—		1,580
Ending balance	$	44,492	$	5,058	$	8,054	$	20,507	$	3,619	$	205	$	81,935

At or for the Nine Months Ended September 30, 2023

Real Estate Loans

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Non-Owner-Occupied

Business

Condominium

Residential

Commercial

Other

(In thousands)

Loans

Apartment

Mixed-Use

Real Estate

ADC

Loans

Total

Allowance for credit losses:

Beginning balance

47,029

5,969

8,360

20,153

1,723

273

83,507

Provision (recovery) for credit losses

(328)

1,251

(791)

(1,723)

615

116

(860)

Charge-offs

(10,921)

(14)

(2)

—

(60)

(10,997)

Recoveries

900

—

913

Ending balance

36,680

7,206

7,567

18,430

2,338

342

72,563


	At or for the Nine Months Ended September 30, 2022
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	62,366	$	5,932	$	7,816	$	2,131	$	4,857	$	751	$	83,853
(Recovery) provision for credit losses		(10,799)		(874)		236		18,322		(1,238)		(495)		5,152
Charge-offs		(8,742)		—		—		—		—		(52)		(8,794)
Recoveries		1,667		—		2		54		—		1		1,724
Ending balance	$	44,492	$	5,058	$	8,054	$	20,507	$	3,619	$	205	$	81,935

The following tables present the amortized cost basis of loans on non-accrual status as of the periods indicated:


	September 30, 2023
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	3,809	$	15,746	$	14,065
One-to-four family residential and cooperative/condominium apartment		—		2,874		140
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		—		15		15
Acquisition, development, and construction		—		657		305
Other loans		—		219		219
Total	$	3,809	$	19,511	$	14,744


	December 31, 2022
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	5,403	$	22,384	$	20,812
One-to-four family residential and cooperative/condominium apartment		—		3,203		181
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		15		2,476		1,297
Acquisition, development, and construction		657		—		—
Other loans		—		99		99
Total	$	6,075	$	28,162	$	22,389

The Company did not recognize interest income on non-accrual loans held for investment during the three or nine months ended September 30, 2023 and 2022.

The following tables summarize the past due status of the Company’s investment in loans as of the dates indicated:

September 30, 2023

Loans 90

Days or

Total

30 to 59

60 to 89

More Past Due

Past Due

Days

and Still

and

Total

(In thousands)

Past Due

Accruing Interest

Non-accrual

Current

Loans

Business loans

16,693

1,151

—

19,555

37,399

2,234,369

2,271,768

One-to-four family residential, including condominium and cooperative apartment

439

2,644

—

2,874

5,957

886,912

892,869

Multifamily residential and residential mixed-use

2,976

818

—

3,794

4,098,230

4,102,024

Non-owner-occupied commercial real estate

2,851

6,787

—

9,653

3,364,628

3,374,281

Acquisition, development, and construction

—

650

—

657

1,307

202,095

203,402

Other

—

219

221

6,046

6,267

Total

22,961

12,050

—

23,320

58,331

10,792,280

10,850,611


	December 31, 2022
					Loans 90
					Days or				Total
	30 to 59		60 to 89		More Past Due				Past Due
	Days		Days		and Still				and				Total
(In thousands)	Past Due		Past Due		Accruing Interest		Non-accrual		Non-accrual		Current		Loans
Business loans	$	5,861	$	741	$	—	$	27,787	$	34,389	$	2,177,468	$	2,211,857
One-to-four family residential, including condominium and cooperative apartment		686		—		—		3,203		3,889		769,432		773,321
Multifamily residential and residential mixed-use		4,817		—		—		—		4,817		4,022,009		4,026,826
Non-owner-occupied commercial real estate		11,889		—		—		2,491		14,380		3,303,105		3,317,485
Acquisition, development, and construction		—		—		—		657		657		229,006		229,663
Other		264		1		—		99		364		7,315		7,679
Total	$	23,517	$	742	$	—	$	34,237	$	58,496	$	10,508,335	$	10,566,831

Accruing Loans 90 Days or More Past Due:

The Company did not have accruing loans 90 days or more past due as of September 30, 2023 or December 31, 2022.

Collateral Dependent Loans:

The Company had collateral dependent loans which were individually evaluated to determine expected credit losses as of the dates indicated:


	September 30, 2023				December 31, 2022
	Real Estate		Associated Allowance		Real Estate		Associated Allowance
(In thousands)	Collateral Dependent		for Credit Losses		Collateral Dependent		for Credit Losses
Business loans	$	3,771	$	—	$	5,849	$	—
One-to-four family residential, including condominium and cooperative apartment		—		—		—		—
Multifamily residential and residential mixed-use		—		—		—		—
Non-owner-occupied commercial real estate		—		—		2,491		1,297
Acquisition, development, and construction		657		305		657		—
Other		—		—		—		—
Total	$	4,428	$	305	$	8,997	$	1,297

Loan Restructurings

The Company adopted ASU No. 2022-02 on January 1, 2023, which eliminates the recognition and measurement of a TDR. Due to the removal of the TDR designation, the Company applies the loan refinancing and restructuring guidance to determine whether a modification or other form of restructuring results in a new loan or a continuation of an existing loan. Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include conditions where there is principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions, and/or a combinations of these modifications. The disclosures related to loan restructuring are only for modifications that directly affect cash flows.

The following tables shows the amortized cost basis as of September 30, 2023 of the loans modified to borrowers experiencing financial difficulty, disaggregated by loan category and type of concession granted:


	For the Three Months Ended September 30, 2023


			Significant		Term Extension		Significant Payment Delay				% of Total Class
	Term		Payment		and Significant		and Interest				of Financing
(Dollars in thousands)	Extension		Delay		Payment Delay		Rate Reduction		Total		Receivable
Business loans	$	—	$	9,290	$	—	$	29	$	9,319	0.4	%
One-to-four family residential, including condominium and cooperative apartment		—		—		—		—		—	0.0
Multifamily residential and residential mixed-use		—		—		—		—		—	0.0
Non-owner-occupied commercial real estate		—		24,705		—		—		24,705	0.7
Acquisition, development, and construction		—		—		—		—		—	0.0
Other		—		—		—		—		—	0.0
Total	$	—	$	33,995	$	—	$	29	$	34,024	0.3	%

	For the Nine Months Ended September 30, 2023


			Significant		Term Extension		Significant Payment Delay				% of Total Class
	Term		Payment		and Significant		and Interest				of Financing
(Dollars in thousands)	Extension		Delay		Payment Delay		Rate Reduction		Total		Receivable
Business loans	$	126	$	9,290	$	471	$	301	$	10,188	0.4	%
One-to-four family residential, including condominium and cooperative apartment		—		2,854		—		—		2,854	0.3
Multifamily residential and residential mixed-use		—		—		—		—		—	0.0
Non-owner-occupied commercial real estate		—		24,705		—		—		24,705	0.7
Acquisition, development, and construction		—		—		—		—		—	0.0
Other		—		—		—		—		—	0.0
Total	$	126	$	36,849	$	471	$	301	$	37,747	0.3	%

The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty:


	For the Three Months Ended September 30, 2023
					Weighted Average
	Weighted Average		Weighted Average		Payment Delay
	Interest Rate		Months of		or Principal
(Dollars in thousands)	Reductions		Term Extensions		Forgiveness
Business loans	4.50	%	$	—	$	1,417
One-to-four family residential, including condominium and cooperative apartment	—			—		—
Multifamily residential and residential mixed-use	—			—		—
Non-owner-occupied commercial real estate	—			—		988
Acquisition, development, and construction	—			—		—
Other loans	—			—		—
Total	4.50	%	$	—	$	2,405


	For the Nine Months Ended September 30, 2023
					Weighted Average
	Weighted Average		Weighted Average		Payment Delay
	Interest Rate		Months of		or Principal
(Dollars in thousands)	Reductions		Term Extensions		Forgiveness
Business loans	4.27	%	$	20	$	1,314
One-to-four family residential, including condominium and cooperative apartment	—			—		72
Multifamily residential and residential mixed-use	—			—		—
Non-owner-occupied commercial real estate	—			—		988
Acquisition, development, and construction	—			—		—
Other loans	—			—		—
Total	4.27	%	$	20	$	2,374

The Bank monitors the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table describes the performance of loans that have been modified during the nine months ended September 30, 2023.

September 30, 2023

30-59

60-89

90+

(Dollars in thousands)

Current

Days Past Due

Non-Accrual

Total

Business loans

9,290

—

898

10,188

One-to-four family residential, including condominium and cooperative apartment

2,854

—

2,854

Multifamily residential and residential mixed-use

—

Non-owner-occupied commercial real estate

24,705

—

24,705

Acquisition, development, and construction

—

Other loans

—

Total

36,849

—

898

37,747

There were no loans made to borrowers experiencing financial difficulty that were modified during the three and nine months ended September 30, 2023, and that subsequently defaulted. For the purposes of this disclosure, a payment default is defined as 90 or more days past due and still accruing. Non-accrual loans that are modified to borrowers experiencing financial difficulty remain on non-accrual status until the borrower has demonstrated performance under the modified terms.

Prior to our adoption of ASU 2022-02, as of December 31, 2022, the Company had TDRs totaling $22.1 million. The Company has allocated $9.1 million of allowance for those loans at December 31, 2022, with no commitments to lend additional amounts.

The following table presents the loans by category modified as TDRs that occurred during the year ended December 31, 2022.


	Modifications During the Year Ended December 31, 2022
			Pre-		Post-
			Modification		Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
(Dollars in thousands)	Loans		Investment		Investment
Business loans	7	$	21,934	$	21,938
One-to-four family residential, including condominium and cooperative apartment	2		762		762
Multifamily residential and residential mixed-use	—		—		—
Non-owner-occupied commercial real estate	1		991		991
Acquisition, development, and construction	1		13,500		13,500
Other	1		276		276
Total	12	$	37,463	$	37,467

Credit Quality Indicators

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit structure, loan documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying them based on credit risk. The Company uses the following definitions for risk ratings:

Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date.

Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of then existing facts, conditions, and values, highly questionable and improbable.

The following is a summary of the credit risk profile of loans by internally assigned grade as of the periods indicated, the years represent the year of origination for non-revolving loans:


	September 30, 2023
(In thousands)	2023		2022		2021		2020		2019		2018 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	197,831	$	428,588	$	199,606	$	167,826	$	159,084	$	316,910	$	640,980	$	39,015	$	2,149,840
Special mention		506		3,184		1,279		923		4,850		13,541		22,962		9,125		56,370
Substandard		1		1,950		2,446		6,845		2,737		30,088		8,290		8,286		60,643
Doubtful		—		—		—		—		4,166		749		—		—		4,915
Total business loans		198,338		433,722		203,331		175,594		170,837		361,288		672,232		56,426		2,271,768
YTD Gross Charge-Offs		—		—		77		38		4,166		2,229		1,021		3,390		10,921

One-to-four family residential, and condominium/cooperative apartment:
Pass		161,750		217,184		103,310		69,919		63,299		215,385		33,259		12,825		876,931
Special mention		—		—		—		—		—		756		159		710		1,625
Substandard		—		—		—		1,010		1,218		11,299		—		786		14,313
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		161,750		217,184		103,310		70,929		64,517		227,440		33,418		14,321		892,869
YTD Gross Charge-Offs		—		—		—		—		—		—		—		14		14

Multifamily residential and residential mixed-use:
Pass		244,041		1,367,753		589,048		285,272		389,601		1,086,015		12,715		4,340		3,978,785
Special mention		—		—		4,223		22,096		3,905		30,476		—		—		60,700
Substandard		—		—		—		10,656		5,109		46,774		—		—		62,539
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		244,041		1,367,753		593,271		318,024		398,615		1,163,265		12,715		4,340		4,102,024
YTD Gross Charge-Offs		—		—		—		—		—		2		—		—		2

Non-owner-occupied commercial real estate
Pass		196,881		728,514		667,899		478,381		358,916		782,593		11,237		7,987		3,232,408
Special mention		—		—		—		78,099		4,585		14,757		—		—		97,441
Substandard		—		—		15		25,740		6,285		12,392		—		—		44,432
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		196,881		728,514		667,914		582,220		369,786		809,742		11,237		7,987		3,374,281
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Acquisition, development, and construction
Pass		7,668		51,454		81,045		7,647		15,644		495		23,597		238		187,788
Special mention		—		—		14,957		—		—		—		—		—		14,957
Substandard		—		—		657		—		—		—		—		—		657
Doubtful		—		—		—		—		—		—		—		—		—
Total acquisition, development, and construction		7,668		51,454		96,659		7,647		15,644		495		23,597		238		203,402
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Total:
Pass		808,171		2,793,493		1,640,908		1,009,045		986,544		2,401,398		721,788		64,405		10,425,752
Special mention		506		3,184		20,459		101,118		13,340		59,530		23,121		9,835		231,093
Substandard		1		1,950		3,118		44,251		15,349		100,553		8,290		9,072		182,584
Doubtful		—		—		—		—		4,166		749		—		—		4,915
Total Loans	$	808,678	$	2,798,627	$	1,664,485	$	1,154,414	$	1,019,399	$	2,562,230	$	753,199	$	83,312	$	10,844,344
YTD Gross Charge-Offs	$	—	$	—	$	77	$	38	$	4,166	$	2,231	$	1,021	$	3,404	$	10,937


	December 31, 2022
(In thousands)	2022		2021		2020		2019		2018		2017 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	449,699	$	228,143	$	187,522	$	173,527	$	130,576	$	240,131	$	650,960	$	43,552	$	2,104,110
Special mention		6,634		-		894		1,529		15,893		4,213		9,062		478		38,703
Substandard		5,242		1,380		8,843		4,706		2,101		14,938		11,290		9,412		57,912
Doubtful		—		—		—		8,332		752		2,048		—		—		11,132
Total business loans		461,575		229,523		197,259		188,094		149,322		261,330		671,312		53,442		2,211,857
YTD Gross Charge-Offs		—		477		4,720		2,088		—		2,414		1,460		242		11,401

One-to-four family residential, and condominium/cooperative apartment:
Pass		225,031		108,185		72,732		65,515		66,038		164,338		41,172		12,563		755,574
Special mention		—		—		—		—		735		1,175		579		726		3,215
Substandard		—		—		1,026		1,227		407		10,779		—		1,093		14,532
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		225,031		108,185		73,758		66,742		67,180		176,292		41,751		14,382		773,321
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Multifamily residential and residential mixed-use:
Pass		1,386,549		582,393		316,424		395,933		127,074		1,107,281		12,584		—		3,928,238
Special mention		—		—		—		11,183		—		14,168		—		—		25,351
Substandard		—		—		12,294		7,001		20,311		33,631		—		—		73,237
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		1,386,549		582,393		328,718		414,117		147,385		1,155,080		12,584		—		4,026,826
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Non-owner-occupied commercial real estate
Pass		747,272		662,608		608,133		373,835		198,317		661,311		11,963		3,453		3,266,892
Special mention		—		—		19,655		4,652		—		12,108		—		—		36,415
Substandard		—		15		1,070		6,209		—		6,884		—		—		14,178
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		747,272		662,623		628,858		384,696		198,317		680,303		11,963		3,453		3,317,485
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Acquisition, development, and construction
Pass		36,877		152,543		11,242		15,943		—		2,087		10,033		281		229,006
Special mention		—		—		—		—		—		—		—		—		—
Substandard		—		657		—		—		—		—		—		—		657
Doubtful		—		—		—		—		—		—		—		—		—
Total acquisition, development, and construction		36,877		153,200		11,242		15,943		—		2,087		10,033		281		229,663
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—

Total:
Pass		2,845,428		1,733,872		1,196,053		1,024,753		522,005		2,175,148		726,712		59,849		10,283,820
Special mention		6,634		—		20,549		17,364		16,628		31,664		9,641		1,204		103,684
Substandard		5,242		2,052		23,233		19,143		22,819		66,232		11,290		10,505		160,516
Doubtful		—		—		—		8,332		752		2,048		—		—		11,132
Total Loans	$	2,857,304	$	1,735,924	$	1,239,835	$	1,069,592	$	562,204	$	2,275,092	$	747,643	$	71,558	$	10,559,152
YTD Gross Charge-Offs	$	—	$	477	$	4,720	$	2,088	$	—	$	2,414	$	1,460	$	242	$	11,401

For other loans, the Company evaluates credit quality based on payment activity. Other loans that are 90 days or more past due are placed on non-accrual status, while all remaining other loans are classified and evaluated as performing. The following is a summary of the credit risk profile of other loans by internally assigned grade:


(In thousands)	September 30, 2023		December 31, 2022
Performing	$	6,048	$	7,580
Non-accrual		219		99
Total	$	6,267	$	7,679

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

STOCK-BASED COMPENSATION

Schedule of activity related to stock options


				Weighted-
				Average	Aggregate
		Weighted-		Remaining	Intrinsic
	Number of	Average Exercise		Contractual	Value
	Options	Price		Years	(In thousands)
Options outstanding at January 1, 2023	92,137	$	35.39	6.2		—
Options exercised	—		—
Options forfeited	—		—
Options outstanding at September 30, 2023	92,137	$	35.39	5.5	$	—
Options vested and exercisable at September 30, 2023	92,137	$	35.39	5.5	$	—

Schedule of information related to stock option plan

Three Months Ended

Nine Months Ended

September 30,

(In thousands)

2023

2022

2023

2022

Cash received for option exercise cost

—

Income tax (expense) benefit recognized on stock option exercises

—

Intrinsic value of options exercised

—

Schedule of exercise prices and weighted-average remaining contractual lives of both outstanding and vested options


	Outstanding Options		Vested Options
		Weighted		Weighted
		Average		Average
		Contractual		Contractual
		Years		Years
	Amount	Remaining	Amount	Remaining
Exercise Prices:
$34.87	35,671	6.4	35,671	6.4
$35.35	32,079	5.4	32,079	5.4
$36.19	24,387	4.4	24,387	4.4
Total	92,137	5.5	92,137	5.5

Schedule of activity related to restricted stock awards


		Weighted-
		Average
	Number of	Grant-Date
	Shares	Fair Value
Unvested allocated shares outstanding at January 1, 2023	350,758	$	28.63
Shares granted	220,750		25.47
Shares vested	(133,732)		29.34
Shares forfeited	(75,624)		26.43
Unvested allocated shares outstanding at September 30, 2023	362,152	$	26.89

Schedule of information related to restricted stock award plan

Three Months Ended

Nine Months Ended

September 30,

(Dollars in thousands)

2023

2022

2023

2022

Compensation expense recognized

604

1,035

2,924

2,823

Income tax (expense) benefit recognized on vesting of RSAs

(72)

(10)

(184)

178

Schedule of activity related to performance based equity awards


		Weighted-
		Average
	Number of	Grant-Date
	Shares	Fair Value
Maximum aggregate share payout at January 1, 2023	95,831	$	30.35
Shares granted	195,066		17.69
Shares forfeited	(60,987)		25.21
Maximum aggregate share payout at September 30, 2023	229,910	$	20.97
Minimum aggregate share payout	—		—
Expected aggregate share payout	210,820	$	20.21

Schedule of information related to performance based share award plan


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Compensation (benefit) expense recognized	$	(66)	$	193	$	274	$	570
Income tax expense recognized on vesting of PSAs		—		—		—		—

FAIR VALUE OF FINANCIAL INSTRUMENTS - Individually evaluated loans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Individually evaluated loans outstanding balance, net of a valuation allowance	$ 10,778,048,000		$ 10,778,048,000		$ 10,483,324,000
Allowance for credit losses	72,563,000		72,563,000		83,507,000
Provision (recovery) for credit losses	1,806,000	$ 6,587,000	(950,000)	$ 5,039,000
Nonrecurring
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Individually evaluated loans outstanding balance, net of a valuation allowance					2,500,000
Allowance for credit losses					1,300,000
Nonrecurring \| Level 3 Inputs
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Individually evaluated loans	352,000		352,000		1,179,000
Carrying Amount
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Individually evaluated loans	10,777,696,000		10,777,696,000		10,482,145,000
Carrying Amount \| Nonrecurring
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Individually evaluated loans	352,000		352,000		$ 1,179,000
Collateral dependent loans \| Nonrecurring
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Abstract]
Provision (recovery) for credit losses	$ 0		$ 992,000

OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
OTHER INTANGIBLE ASSETS
Amortization expense recognized on intangible assets	$ 349	$ 431	$ 1,075	$ 1,447

LOANS HELD FOR INVESTMENT, NET - Amortized cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 34,024	$ 37,747
% of Total Class of Financing Receivable	0.30%	0.30%
Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		$ 126
Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 33,995	36,849
Term Extension and Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		471
Significant Payment Delay And Interest Rate Deduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	29	301
Business loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 9,319	$ 10,188
% of Total Class of Financing Receivable	0.40%	0.40%
Business loans \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		$ 126
Business loans \| Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 9,290	9,290
Business loans \| Term Extension and Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		471
Business loans \| Significant Payment Delay And Interest Rate Deduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 29	301
One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		$ 2,854
% of Total Class of Financing Receivable	0.00%	0.30%
One-to-four family residential and cooperative/condominium apartment \| Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified		$ 2,854
Multifamily residential and residential mixed-use
Financing Receivable, Allowance for Credit Loss [Line Items]
% of Total Class of Financing Receivable	0.00%	0.00%
Non-owner-occupied commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 24,705	$ 24,705
% of Total Class of Financing Receivable	0.70%	0.70%
Non-owner-occupied commercial real estate \| Significant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans that have been modified	$ 24,705	$ 24,705
Acquisition, development, and construction ("ADC")
Financing Receivable, Allowance for Credit Loss [Line Items]
% of Total Class of Financing Receivable	0.00%	0.00%
Other Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
% of Total Class of Financing Receivable	0.00%	0.00%