OceanFirst Financial (OCFC) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-11713
Entity Registrant Name	OceanFirst Financial Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3412577
Entity Address, Address Line One	110 West Front Street,
Entity Address, City or Town	Red Bank,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07701
City Area Code	732
Local Phone Number	240-4500
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		59,421,498
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001004702
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	OCFC
Security Exchange Name	NASDAQ
Depositary Shares
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares (each representing a 1/40th interest in a share of 7.0% Series A Non-Cumulative, perpetual preferred stock)
Trading Symbol	OCFCP
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 457,747	$ 167,946
Debt securities available-for-sale, at estimated fair value	452,016	457,648
Debt securities held-to-maturity, net of allowance for securities credit losses of $964 at June 30, 2023 and $1,128 at December 31, 2022 (estimated fair value of $1,109,756 at June 30, 2023 and $1,110,041 at December 31, 2022)	1,222,507	1,221,138
Equity investments	96,452	102,037
Restricted equity investments, at cost	105,305	109,278
Loans receivable, net of allowance for loan credit losses of $61,791 at June 30, 2023 and $56,824 at December 31, 2022	10,030,106	9,868,718
Loans held-for-sale	4,200	690
Interest and dividends receivable	47,933	44,704
Premises and equipment, net	124,139	126,705
Bank owned life insurance	263,836	261,603
Assets held for sale	3,608	2,719
Goodwill	506,146	506,146
Core deposit intangible	11,476	13,497
Other assets	213,432	221,067
Total assets	13,538,903	13,103,896
Liabilities and Stockholders’ Equity
Deposits	10,158,337	9,675,206
Federal Home Loan Bank (“FHLB”) advances	1,091,666	1,211,166
Securities sold under agreements to repurchase with customers	74,452	69,097
Other borrowings	195,925	195,403
Advances by borrowers for taxes and insurance	27,839	21,405
Other liabilities	364,401	346,155
Total liabilities	11,912,620	11,518,432
Stockholders’ equity:
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both June 30, 2023 and December 31, 2022	1	1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,155,942 and 61,877,686 shares issued at June 30, 2023 and December 31, 2022, respectively; and 59,420,859 and 59,144,128 shares outstanding at June 30, 2023 and December 31, 2022, respectively	613	612
Additional paid-in capital	1,159,394	1,154,821
Retained earnings	569,867	540,507
Accumulated other comprehensive loss	(30,348)	(35,982)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP")	(4,986)	(6,191)
Treasury stock, 2,735,083 shares at both June 30, 2023 and December 31, 2022	(69,106)	(69,106)
OceanFirst Financial Corp. stockholders’ equity	1,625,435	1,584,662
Non-controlling interest	848	802
Total stockholders’ equity	1,626,283	1,585,464
Total liabilities and stockholders’ equity	$ 13,538,903	$ 13,103,896

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 964,000	$ 1,128,000
Securities held-to-maturity, fair value	1,109,756,000	1,110,041,000
Allowance for loan credit losses	$ 61,791,000	$ 56,824,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference, value	$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	57,370	57,370
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	62,155,942	61,877,686
Common stock, shares outstanding (in shares)	59,420,859	59,144,128
Treasury stock, shares (in shares)	2,735,083	2,735,083

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income:
Loans	$ 129,104	$ 90,731	$ 250,824	$ 173,199
Debt securities	14,320	7,473	28,606	14,977
Equity investments and other	6,672	1,212	9,700	2,223
Total interest income	150,096	99,416	289,130	190,399
Interest expense:
Deposits	37,934	4,317	59,264	8,358
Borrowed funds	20,053	4,302	38,955	7,017
Total interest expense	57,987	8,619	98,219	15,375
Net interest income	92,109	90,797	190,911	175,024
Provision for credit losses	1,229	1,254	4,242	3,105
Net interest income after provision for credit losses	90,880	89,543	186,669	171,919
Other income:
Bankcard services revenue	1,544	3,310	2,874	6,273
Net gain on sales of loans	33	3	53	180
Net loss on equity investments	(559)	(8,078)	(7,360)	(10,864)
Net gain from other real estate operations	0	50	0	48
Income from bank owned life insurance	1,182	1,422	2,463	3,525
Commercial loan swap income	0	2,294	701	5,075
Other	481	236	252	183
Total other income	8,928	7,541	11,001	16,393
Operating expenses:
Compensation and employee benefits	34,222	33,153	68,142	63,848
Occupancy	5,265	4,758	10,504	10,502
Equipment	1,101	1,336	2,306	2,706
Marketing	961	971	1,943	1,587
Federal deposit insurance and regulatory assessments	2,465	1,788	4,214	3,678
Data processing	6,165	6,170	12,319	11,906
Check card processing	1,214	1,515	2,495	2,497
Professional fees	5,083	2,472	10,181	5,794
Amortization of core deposit intangible	994	1,178	2,021	2,388
Branch consolidation expense, net	0	546	70	948
Merger related expenses	0	196	22	2,161
Other operating expense	5,460	4,578	10,022	8,141
Total operating expenses	62,930	58,661	124,239	116,156
Income before provision for income taxes	36,878	38,423	73,431	72,156
Provision for income taxes	8,996	8,940	17,650	16,914
Net income	27,882	29,483	55,781	55,242
Net income attributable to non-controlling interest	85	522	101	522
Net income attributable to OceanFirst Financial Corp.	27,797	28,961	55,680	54,720
Dividends on preferred shares	1,004	1,004	2,008	2,008
Net income available to common stockholders	26,793	27,957	53,672	52,712
Net income available to common stockholders	$ 26,793	$ 27,957	$ 53,672	$ 52,712
Basic earnings per share (in dollars per share)	$ 0.45	$ 0.48	$ 0.91	$ 0.90
Diluted earnings per share (in dollars per share)	$ 0.45	$ 0.47	$ 0.91	$ 0.89
Average basic shares outstanding (in shares)	59,147	58,894	58,988	58,823
Average diluted shares outstanding (in shares)	59,153	58,995	59,038	58,975
Trust and asset management revenue
Other income:
Other income	$ 645	$ 658	$ 1,257	$ 1,267
Fees and service charges
Other income:
Other income	$ 5,602	$ 7,646	$ 10,761	$ 10,706

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 27,882	$ 29,483	$ 55,781	$ 55,242
Other comprehensive (loss) income:
Net unrealized gain (loss) on debt securities (net of tax expense of $92 and $1,858 in 2023 and tax benefit of $4,460 and $8,388 in 2022, respectively)	282	(13,996)	5,829	(26,368)
Accretion of unrealized loss on debt securities reclassified to held-to-maturity (net of tax expense of $54 and $110 in 2023 and tax expense of $61 and $126 in 2022, respectively)	82	89	161	178
Unrealized loss on derivative hedges (net of tax benefit of $506 and $375 in 2023)	(1,588)	0	(1,176)	0
Reclassification adjustment for losses (gains) included in net income (net of tax expense of $61 and $262 in 2023 and benefit of $5 and $26 in 2022, respectively)	191	(16)	820	(82)
Total other comprehensive (loss) income, net of tax	(1,033)	(13,923)	5,634	(26,272)
Total comprehensive income	26,849	15,560	61,415	28,970
Less: comprehensive income attributable to non-controlling interest	85	522	101	522
Comprehensive income attributable to OceanFirst Financial Corp.	26,764	15,038	61,314	28,448
Less: Dividends on preferred shares	1,004	1,004	2,008	2,008
Total comprehensive income available to common stockholders	$ 25,760	$ 14,034	$ 59,306	$ 26,440

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized holding gain (loss), before adjustment, tax expense (benefit)	$ 92	$ (4,460)	$ 1,858	$ (8,388)
Accretion of unrealized loss on debt securities, tax expense	54	61	110	126
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax benefit	(506)		(375)
Reclassification adjustment from AOCI for sale of securities, tax expense (benefit)	$ 61	$ (5)	$ 262	$ (26)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Employee Stock Ownership Plan	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Non-Controlling Interest
Beginning balance at Dec. 31, 2021	$ 1,516,553	$ (8,615)	$ 1	$ 611	$ 1,146,781	$ 442,306	$ (2,821)	$ (61,710)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	55,242					54,720			522
Other comprehensive income (loss), net of tax	(26,272)						(26,272)
Stock compensation	3,400				3,400
Allocation of ESOP stock	1,247	1,212			35
Cash dividend	(20,015)					(20,015)
Exercise of stock options	251			1	1,147	(897)
Repurchase shares of common stock	(7,396)							(7,396)
Preferred stock dividend	(2,008)					(2,008)
Acquisition of Trident Abstract Title Agency, LLC (“Trident”)	836								836
Distributions to non-controlling interest	(406)					8			(414)
Ending balance at Jun. 30, 2022	1,521,432	(7,403)	1	612	1,151,363	474,114	(29,093)	(69,106)	944
Beginning balance at Mar. 31, 2022	1,519,334	(8,009)	1	612	1,149,503	456,251	(15,170)	(63,854)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,483					28,961			522
Other comprehensive income (loss), net of tax	(13,923)						(13,923)
Stock compensation	1,848				1,848
Allocation of ESOP stock	576	606			(30)
Cash dividend	(10,022)					(10,022)
Exercise of stock options	(38)			0	42	(80)
Repurchase shares of common stock	(5,252)							(5,252)
Preferred stock dividend	(1,004)					(1,004)
Acquisition of Trident Abstract Title Agency, LLC (“Trident”)	836								836
Distributions to non-controlling interest	(406)					8			(414)
Ending balance at Jun. 30, 2022	1,521,432	(7,403)	1	612	1,151,363	474,114	(29,093)	(69,106)	944
Beginning balance at Dec. 31, 2022	1,585,464	(6,191)	1	612	1,154,821	540,507	(35,982)	(69,106)	802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	55,781					55,680			101
Other comprehensive income (loss), net of tax	5,634						5,634
Stock compensation	3,336				3,336
Allocation of ESOP stock	1,130	1,205			(75)
Cash dividend	(23,592)					(23,592)
Exercise of stock options	593			1	1,312	(720)
Preferred stock dividend	(2,008)					(2,008)
Distributions to non-controlling interest	(55)					0			(55)
Ending balance at Jun. 30, 2023	1,626,283	(4,986)	1	613	1,159,394	569,867	(30,348)	(69,106)	848
Beginning balance at Mar. 31, 2023	1,610,371	(5,588)	1	613	1,158,007	554,941	(29,315)	(69,106)	818
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	27,882					27,797			85
Other comprehensive income (loss), net of tax	(1,033)						(1,033)
Stock compensation	1,508				1,508
Allocation of ESOP stock	466	602			(136)
Cash dividend	(11,837)					(11,837)
Exercise of stock options	(15)			0	15	(30)
Preferred stock dividend	(1,004)					(1,004)
Distributions to non-controlling interest	(55)					0			(55)
Ending balance at Jun. 30, 2023	$ 1,626,283	$ (4,986)	$ 1	$ 613	$ 1,159,394	$ 569,867	$ (30,348)	$ (69,106)	$ 848

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividend per share (in dollars per share)	$ 0.20	$ 0.17	$ 0.40	$ 0.34
Purchase of common stock (in shares)		272,779		373,223

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 55,781	$ 55,242
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of premises and equipment	6,082	5,627
Allocation of ESOP stock	1,130	1,247
Stock compensation	3,336	3,400
Net excess tax expense on stock compensation	244	217
Amortization of servicing asset	20	12
Net premium amortization in excess of discount accretion on securities	2,012	3,714
Net amortization of deferred costs on borrowings	297	276
Amortization of core deposit intangible	2,021	2,388
Net accretion of purchase accounting adjustments	(2,448)	(5,384)
Net amortization of deferred fees/costs and premiums/discounts on loans	(818)	414
Provision for credit losses	4,242	3,105
Net gain on sale of other real estate owned	0	(54)
Net write down of fixed assets held-for-sale to net realizable value	459	1,403
Net gain on sale of fixed assets	(26)	(63)
Net loss on sales of available-for-sale securities	697	0
Net loss on equity investments	7,360	10,864
Net gain on sales of loans	(53)	(180)
Proceeds from sales of residential loans held for sale	22,578	727
Residential loans originated for sale	(26,035)	(703)
Increase in value of bank owned life insurance	(2,463)	(3,525)
Net loss (gain) on sale of assets held for sale	44	(1,394)
Increase in interest and dividends receivable	(3,229)	(1,578)
Deferred tax benefit	(33)	(47)
Decrease (increase) in other assets	6,424	(55,494)
Increase in other liabilities	18,640	106,082
Total adjustments	40,481	71,054
Net cash provided by operating activities	96,262	126,296
Cash flows from investing activities:
Net increase in loans receivable	(163,714)	(646,428)
Proceeds from sale of loans	0	12,167
Purchase of residential loan pool	0	(161,701)
Premiums paid on purchased loan pool	0	(495)
Purchase of debt securities available-for-sale	(4,287)	(63,568)
Purchase of debt securities held-to-maturity	(63,661)	(25,204)
Purchase of equity investments	(7,175)	(3,298)
Proceeds from maturities and calls of debt securities available-for-sale	15,800	63,750
Proceeds from maturities and calls of debt securities held-to-maturity	11,465	17,700
Proceeds from sales of debt securities available-for-sale	1,300	25,257
Proceeds from sale of equity investments	4,822	17,734
Principal repayments on debt securities held-to-maturity	51,012	77,510
Proceeds from bank owned life insurance	230	2,502
Proceeds from the redemption of restricted equity investments	105,427	109,543
Purchases of restricted equity investments	(101,449)	(132,395)
Proceeds from sale of other real estate owned	0	160
Proceeds from sales of assets held-for-sale	328	6,100
Purchases of premises and equipment	(4,717)	(11,745)
Net cash consideration received for acquisition	0	38,609
Net cash used in investing activities	(154,619)	(673,802)
Cash flows from financing activities:
Increase in deposits	483,289	99,068
Increase (decrease) in short-term borrowings	5,303	(13,274)
Net proceeds from FHLB advances	(119,500)	488,750
Repayments of other borrowings	0	(35,052)
Increase in advances by borrowers for taxes and insurance	6,434	3,335
Exercise of stock options	593	251
Payment of employee taxes withheld from stock awards and phantom stock units	(2,346)	(1,472)
Purchase of treasury stock	0	(7,396)
Dividends paid	(25,600)	(22,023)
Distributions to non-controlling interest	(55)	(406)
Net cash provided by financing activities	348,118	511,781
Net increase (decrease) in cash and due from banks and restricted cash	289,761	(35,725)
Cash and due from banks and restricted cash at beginning of period	167,986	224,784
Supplemental Disclosure of Cash Flow Information:
Cash and due from banks at beginning of period	167,946	204,949
Restricted cash at beginning of period	40	19,835
Cash and due from banks at end of period	457,747	189,019
Restricted cash at end of period	0	40
Cash and due from banks and restricted cash at end of period	457,747	189,059
Cash paid during the period for:
Interest	86,290	15,059
Income taxes	20,076	3,633
Non-cash activities:
Accretion of unrealized loss on securities reclassified to held-to-maturity	272	304
Net loan charge-offs (recoveries)	123	(83)
Transfer of loans receivable to loans held-for-sale	0	12,011
Transfer of premises and equipment to assets held-for-sale	1,302	2,776
Non-cash assets acquired:
Other current assets	0	238
Premises and equipment	0	18
Right of use (“ROU”) asset	0	779
Other assets	0	81
Total non-cash assets acquired	0	1,116
Liabilities assumed:
Lease liability	0	779
Other liabilities	0	43,937
Total liabilities assumed	$ 0	$ 44,716

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include: the accounts of OceanFirst Financial Corp. (the “Company”); its wholly-owned subsidiaries, OceanFirst Bank N.A. (the “Bank”) and OceanFirst Risk Management, Inc.; the Bank’s direct and indirect wholly-owned subsidiaries, OceanFirst REIT Holdings, Inc., OceanFirst Management Corp., OceanFirst Realty Corp., Casaba Real Estate Holdings Corporation, and Country Property Holdings, Inc; and a majority controlling interest in Trident. Certain other subsidiaries were dissolved in 2022 and are included in the consolidated financial statements for previous periods. All significant intercompany accounts and transactions have been eliminated in consolidation. The interim consolidated financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results of operations that may be expected for the full year 2023 or any other period. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and the results of operations for the periods presented. Actual results could differ from these estimates. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These 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.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following reconciles shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average shares outstanding 59,451 59,300 59,371 59,302 Less: Unallocated ESOP shares (273) (393) (287) (408) Unallocated incentive award shares (31) (13) (96) (71) Average basic shares outstanding 59,147 58,894 58,988 58,823 Add: Effect of dilutive securities: Incentive awards 6 101 50 152 Average diluted shares outstanding 59,153 58,995 59,038 58,975 For the three and six months ended June 30, 2023, antidilutive stock options of 1,986,000 and 1,540,000, respectively, were excluded from the earnings per share calculation. For the three and six months ended June 30, 2022, antidilutive stock options of 1,577,000 and 1,573,000, respectively, were excluded from the earnings per share calculation.

Securities

Securities	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Securities	Securities The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022 are as follows (in thousands): Amortized Gross Gross Estimated Allowance for Credit Losses At June 30, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 73,026 $ — $ (7,228) $ 65,798 $ — Corporate debt securities 10,077 — (1,141) 8,936 — Asset-backed securities 296,212 — (11,375) 284,837 — Agency commercial mortgage-backed securities (“MBS”) 110,073 — (17,628) 92,445 — Total debt securities available-for-sale $ 489,388 $ — $ (37,372) $ 452,016 $ — Debt securities held-to-maturity: State and municipal debt obligations $ 249,515 $ 90 $ (22,371) $ 227,234 $ (52) Corporate debt securities 54,948 51 (5,349) 49,650 (907) Mortgage-backed securities: Agency residential 863,179 400 (84,246) 779,333 — Agency commercial 32,569 — (1,794) 30,775 — Non-agency commercial 25,286 — (2,522) 22,764 (5) Total mortgage-backed securities 921,034 400 (88,562) 832,872 (5) Total debt securities held-to-maturity $ 1,225,497 $ 541 $ (116,282) $ 1,109,756 $ (964) Total debt securities $ 1,714,885 $ 541 $ (153,654) $ 1,561,772 $ (964) At December 31, 2022 Debt securities available-for-sale: U.S. government and agency obligations $ 87,648 $ 1 $ (7,635) $ 80,014 $ — Corporate debt securities 8,928 — (756) 8,172 — Asset-backed securities 296,222 — (19,349) 276,873 — Agency commercial MBS 110,606 — (18,017) 92,589 — Total debt securities available-for-sale $ 503,404 $ 1 $ (45,757) $ 457,648 $ — Debt securities held-to-maturity: State, municipal, and sovereign debt obligations $ 260,249 $ 46 $ (24,940) $ 235,355 $ (60) Corporate debt securities 56,893 380 (3,778) 53,495 (1,059) Mortgage-backed securities: Agency residential 849,985 795 (83,586) 767,194 — Agency commercial 32,127 23 (1,189) 30,961 — Non-agency commercial 25,310 — (2,274) 23,036 (9) Total mortgage-backed securities 907,422 818 (87,049) 821,191 (9) Total debt securities held-to-maturity $ 1,224,564 $ 1,244 $ (115,767) $ 1,110,041 $ (1,128) Total debt securities $ 1,727,968 $ 1,245 $ (161,524) $ 1,567,689 $ (1,128) There was no allowance for securities credit losses on debt securities available-for-sale at June 30, 2023 or December 31, 2022. The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Allowance for securities credit losses Beginning balance $ (1,043) $ (1,380) $ (1,128) $ (1,467) Provision for credit loss benefit 79 87 164 174 Total ending allowance balance $ (964) $ (1,293) $ (964) $ (1,293) The Company monitors the credit quality of debt securities held-to-maturity on a quarterly basis through the use of internal credit analysis supplemented by external credit ratings. Credit ratings of BBB- or Baa3 or higher are considered investment grade. Where multiple ratings are available, the Company considers the lowest rating when determining the allowance for securities credit losses. Under this approach, the amortized cost of debt securities held-to-maturity at June 30, 2023, aggregated by credit quality indicator, are as follows (in thousands): Investment Grade Non-Investment Grade/Non-rated Total As of June 30, 2023 State and municipal debt obligations $ 249,515 $ — $ 249,515 Corporate debt securities 40,408 14,540 54,948 Non-agency commercial MBS 25,286 — 25,286 Total debt securities held-to-maturity $ 315,209 $ 14,540 $ 329,749 During 2021 and 2013, the Bank transferred $12.7 million and $536.0 million, respectively, of previously designated available-for-sale securities to a held-to-maturity designation at estimated fair value. The securities transferred had an unrealized net loss of $209,000 and $13.3 million at the time of transfer in 2021 and 2013, respectively, which continues to be reflected in accumulated other comprehensive loss on the Consolidated Statement of Financial Condition, net of subsequent amortization, which is being recognized over the life of the securities. The carrying value of debt securities held-to-maturity at June 30, 2023 and December 31, 2022 is as follows (in thousands): June 30, December 31, 2023 2022 Amortized cost $ 1,225,497 $ 1,224,564 Allowance for securities credit losses (964) (1,128) Net loss on date of transfer from available-for-sale (13,556) (13,556) Accretion of net unrealized loss on securities reclassified as held-to-maturity 11,530 11,258 Carrying value $ 1,222,507 $ 1,221,138 There were no realized losses and $697,000 of realized losses on sale of debt securities available-for-sale for the three and six months ended June 30, 2023, respectively, as compared to $21,000 and $108,000 for the corresponding prior year periods. These realized losses on debt securities are presented within Other under Total other income of the Consolidated Statements of Income. The amortized cost and estimated fair value of debt securities at June 30, 2023 by contractual maturity are shown below (in thousands): June 30, 2023 Amortized Estimated Less than one year $ 36,231 $ 35,786 Due after one year through five years 176,032 160,455 Due after five years through ten years 207,267 193,962 Due after ten years 264,248 246,252 $ 683,778 $ 636,455 Actual maturities may differ from contractual maturities in instances where issuers have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2023, corporate debt securities, state and municipal obligations, and asset-backed securities with an amortized cost of $64.0 million, $82.3 million, and $296.2 million, respectively, and an estimated fair value of $57.6 million, $78.0 million, and $284.8 million, respectively, were callable prior to the maturity date. Mortgage-backed securities are excluded from the above table since their effective lives are expected to be shorter than the contractual maturity date due to principal prepayments. The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022, segregated by the duration of the unrealized losses, are as follows (in thousands): Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized At June 30, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 2,334 $ (25) $ 63,464 $ (7,203) $ 65,798 $ (7,228) Corporate debt securities 6,557 (520) 2,379 (621) 8,936 (1,141) Asset-backed securities — — 284,837 (11,375) 284,837 (11,375) Agency commercial MBS — — 92,445 (17,628) 92,445 (17,628) Total debt securities available-for-sale 8,891 (545) 443,125 (36,827) 452,016 (37,372) Debt securities held-to-maturity: State and municipal debt obligations 29,552 (368) 191,803 (22,003) 221,355 (22,371) Corporate debt securities 5,532 (576) 39,686 (4,773) 45,218 (5,349) MBS: Agency residential 227,401 (5,715) 498,132 (78,531) 725,533 (84,246) Agency commercial 28,478 (1,751) 1,899 (43) 30,377 (1,794) Non-agency commercial — — 22,764 (2,522) 22,764 (2,522) Total MBS 255,879 (7,466) 522,795 (81,096) 778,674 (88,562) Total debt securities held-to-maturity 290,963 (8,410) 754,284 (107,872) 1,045,247 (116,282) Total debt securities $ 299,854 $ (8,955) $ 1,197,409 $ (144,699) $ 1,497,263 $ (153,654) At December 31, 2022 Debt securities available-for-sale: U.S. government and agency obligations $ 27,232 $ (450) $ 52,782 $ (7,185) $ 80,014 $ (7,635) Corporate debt securities 4,735 (193) 3,437 (563) 8,172 (756) Asset-backed securities 143,392 (9,179) 133,481 (10,170) 276,873 (19,349) Agency commercial MBS 8,782 (1,675) 83,807 (16,342) 92,589 (18,017) Total debt securities available-for-sale 184,141 (11,497) 273,507 (34,260) 457,648 (45,757) Debt securities held-to-maturity: State, municipal, and sovereign debt obligations 133,492 (11,952) 97,135 (12,988) 230,627 (24,940) Corporate debt securities 11,783 (598) 36,152 (3,180) 47,935 (3,778) MBS: Agency residential 297,296 (12,404) 397,036 (71,182) 694,332 (83,586) Agency commercial 25,936 (1,150) 2,062 (39) 27,998 (1,189) Non-agency commercial 16,839 (1,621) 6,198 (653) 23,037 (2,274) Total MBS 340,071 (15,175) 405,296 (71,874) 745,367 (87,049) Total debt securities held-to-maturity 485,346 (27,725) 538,583 (88,042) 1,023,929 (115,767) Total debt securities $ 669,487 $ (39,222) $ 812,090 $ (122,302) $ 1,481,577 $ (161,524) The Company concluded that debt securities were not impaired at June 30, 2023 based on consideration of several factors. The Company noted that each issuer made all the contractually due payments when required. There were no defaults on principal or interest payments, and no interest payments were deferred. Based on management’s analysis of each individual security, the issuers appear to have the ability to meet debt service requirements over the life of the security. Furthermore, the change in net unrealized losses were primarily due to changes in the general credit and interest rate environment and not credit quality. Historically, the Company has not utilized securities sales as a source of liquidity and the Company’s liquidity plans include adequate sources of liquidity outside securities sales. Equity Investments At June 30, 2023 and December 31, 2022, the Company held equity investments of $96.5 million and $102.0 million, respectively. The equity investments are primarily comprised of select financial services institutions’ preferred stocks, investments in funds and other financial institutions. The realized and unrealized gains or losses on equity securities for the three and six months ended June 30, 2023 and 2022 are shown in the table below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss on equity investments $ (559) $ (8,078) $ (7,360) $ (10,864) Less: Net (losses) gains recognized on equity investments sold (854) (231) (5,462) 1,351 Unrealized gains (losses) recognized on equity investments still held $ 295 $ (7,847) $ (1,898) $ (12,215)

Loans Receivable, Net

Loans Receivable, Net	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Loans Receivable, Net	Loans Receivable, Net Loans receivable, net at June 30, 2023 and December 31, 2022 consisted of the following (in thousands): June 30, December 31, 2023 2022 Commercial: Commercial real estate – investor $ 5,319,686 $ 5,171,952 Commercial real estate – owner occupied 981,618 997,367 Commercial and industrial 620,284 622,372 Total commercial 6,921,588 6,791,691 Consumer: Residential real estate 2,906,556 2,861,991 Home equity loans and lines and other consumer (“other consumer”) 255,486 264,372 Total consumer 3,162,042 3,126,363 Total loans receivable 10,083,630 9,918,054 Deferred origination costs, net of fees 8,267 7,488 Allowance for loan credit losses (61,791) (56,824) Total loans receivable, net $ 10,030,106 $ 9,868,718 The Company categorizes all 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 documentation, and current economic trends, among other factors. The Company evaluates risk ratings on an ongoing basis. The Company uses the following definitions for risk ratings: Pass : Loans classified as Pass are well protected by the paying capacity and net worth of the borrower. 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 borrower or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the collection or the liquidation of the debt. They are characterized by the distinct possibility that the Company 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 currently existing facts, conditions and values, highly questionable and improbable. The following tables summarize total loans by year of origination, internally assigned credit grades and risk characteristics (in thousands): 2023 2022 2021 2020 2019 2018 and prior Revolving lines of credit Total June 30, 2023 Commercial real estate - investor Pass $ 116,385 $ 1,169,785 $ 1,304,903 $ 535,020 $ 502,580 $ 994,662 $ 616,235 $ 5,239,570 Special Mention — — 2,460 188 63 17,502 1,388 21,601 Substandard — — — 3,750 20,109 33,398 1,258 58,515 Total commercial real estate - investor 116,385 1,169,785 1,307,363 538,958 522,752 1,045,562 618,881 5,319,686 Commercial real estate - owner occupied Pass 51,839 117,775 110,128 66,894 108,189 488,320 12,127 955,272 Special Mention — — — — — 4,895 — 4,895 Substandard — — — — 2,003 19,358 90 21,451 Total commercial real estate - owner occupied 51,839 117,775 110,128 66,894 110,192 512,573 12,217 981,618 Commercial and industrial Pass 65,775 57,240 21,505 11,258 9,781 57,200 390,624 613,383 Special Mention — — 10 — — 210 2,037 2,257 Substandard — — 21 18 960 2,006 1,639 4,644 Total commercial and industrial 65,775 57,240 21,536 11,276 10,741 59,416 394,300 620,284 Residential real estate (1) Pass 111,815 931,294 582,192 405,474 234,279 637,803 — 2,902,857 Special Mention — 308 — 206 147 1,336 — 1,997 Substandard 62 56 — 258 487 839 — 1,702 Total residential real estate 111,877 931,658 582,192 405,938 234,913 639,978 — 2,906,556 Other consumer (1) Pass 15,400 22,078 22,150 13,850 14,128 131,342 34,589 253,537 Special Mention — — — — — 109 — 109 Substandard — — — — 49 1,791 — 1,840 Total other consumer 15,400 22,078 22,150 13,850 14,177 133,242 34,589 255,486 Total loans $ 361,276 $ 2,298,536 $ 2,043,369 $ 1,036,916 $ 892,775 $ 2,390,771 $ 1,059,987 $ 10,083,630 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. 2022 2021 2020 2019 2018 2017 and prior Revolving lines of credit Total December 31, 2022 Commercial real estate - investor Pass $ 1,144,763 $ 1,339,289 $ 555,937 $ 524,428 $ 220,999 $ 881,344 $ 450,787 $ 5,117,547 Special Mention — 2,508 192 17,094 — 12,818 2,188 34,800 Substandard — — — 893 — 18,180 532 19,605 Total commercial real estate - investor 1,144,763 1,341,797 556,129 542,415 220,999 912,342 453,507 5,171,952 Commercial real estate - owner occupied Pass 119,912 110,440 59,952 115,385 88,204 458,708 14,932 967,533 Special Mention — — — — 748 5,679 — 6,427 Substandard — — 3,750 2,037 4,817 12,803 — 23,407 Total commercial real estate - owner occupied 119,912 110,440 63,702 117,422 93,769 477,190 14,932 997,367 Commercial and industrial Pass 60,078 23,724 14,072 17,175 10,992 47,370 443,211 616,622 Special Mention — 7 — — — 250 1,680 1,937 Substandard — 21 76 1,083 301 2,212 120 3,813 Total commercial and industrial 60,078 23,752 14,148 18,258 11,293 49,832 445,011 622,372 Residential real estate (1) Pass 919,364 591,745 419,712 247,387 99,945 577,392 — 2,855,545 Special Mention — 193 1,514 204 59 2,407 — 4,377 Substandard — — — 656 286 1,127 — 2,069 Total residential real estate 919,364 591,938 421,226 248,247 100,290 580,926 — 2,861,991 Other consumer (1) Pass 24,069 24,111 15,440 15,471 39,057 108,818 34,851 261,817 Special Mention — — — 75 — 598 — 673 Substandard — — — 157 18 1,707 — 1,882 Total other consumer 24,069 24,111 15,440 15,703 39,075 111,123 34,851 264,372 Total loans $ 2,268,186 $ 2,092,038 $ 1,070,645 $ 942,045 $ 465,426 $ 2,131,413 $ 948,301 $ 9,918,054 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. An analysis of the allowance for credit losses on loans for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands): Commercial Commercial Commercial Residential Other Consumer Total For the three months ended June 30, 2023 Allowance for credit losses on loans Balance at beginning of period $ 22,451 $ 4,116 $ 5,827 $ 26,928 $ 873 $ 60,195 Provision (benefit) for credit losses 2,029 223 239 (785) 13 1,719 Charge-offs (1) — — (125) — (81) (206) Recoveries 1 3 4 9 66 83 Balance at end of period $ 24,481 $ 4,342 $ 5,945 $ 26,152 $ 871 $ 61,791 For the three months ended June 30, 2022 Allowance for credit losses on loans Balance at beginning of period $ 23,637 $ 5,053 $ 4,649 $ 16,277 $ 982 $ 50,598 (Benefit) provision for credit losses (1,080) (116) 572 1,966 130 1,472 Charge-offs — (14) — (56) (217) (287) Recoveries 51 98 19 9 101 278 Balance at end of period $ 22,608 $ 5,021 $ 5,240 $ 18,196 $ 996 $ 52,061 For the six months ended June 30, 2023 Allowance for credit losses on loans Balance at beginning of period $ 21,070 $ 4,423 $ 5,695 $ 24,530 $ 1,106 $ 56,824 Provision (benefit) for credit losses 3,408 (81) 370 1,605 (259) 5,043 Charge-offs (1) — (6) (128) — (82) (216) Recoveries 3 6 8 17 106 140 Balance at end of period $ 24,481 $ 4,342 $ 5,945 $ 26,152 $ 871 $ 61,791 For the six months ended June 30, 2022 Allowance for credit losses on loans Balance at beginning of period $ 25,504 $ 5,884 $ 5,039 $ 11,155 $ 1,268 $ 48,850 (Benefit) provision for credit losses (2,947) (956) 166 6,994 (129) 3,128 Charge-offs — (18) — (56) (356) (430) Recoveries 51 111 35 103 213 513 Balance at end of period $ 22,608 $ 5,021 $ 5,240 $ 18,196 $ 996 $ 52,061 (1) Gross charge-offs for the three and six months ended June 30, 2023 of $206,000 and $216,000, respectively, related to loans that were originated in and prior to 2018. A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral and, therefore, is classified as non-accruing. At June 30, 2023 and December 31, 2022, the Company had collateral dependent loans with an amortized cost balance as follows: commercial real estate - investor of $7.3 million and $4.6 million, respectively, commercial real estate - owner occupied of $565,000 and $4.0 million, respectively, and commercial and industrial of $199,000 and $160,000, respectively. In addition, the Company had residential and consumer loans collateralized by residential real estate, which are in the process of foreclosure, with an amortized cost balance of $1.6 million and $858,000 at June 30, 2023 and December 31, 2022, respectively. The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, 2023 2022 Commercial real estate – investor $ 13,000 $ 10,483 Commercial real estate – owner occupied 565 4,025 Commercial and industrial 199 331 Residential real estate 6,174 5,969 Other consumer 2,820 2,457 $ 22,758 $ 23,265 At June 30, 2023 and December 31, 2022, the non-accrual loans were included in the allowance for credit loss calculation and the Company did not recognize or accrue interest income on these loans. At June 30, 2023, there were no loans that were past due 90 days or greater and still accruing interest. At December 31, 2022, there was one Paycheck Protection Program (“PPP”) loan for $14,000 that was past due 90 days or greater and still accrued interest, which subsequently became current. Per Small Business Administration (“SBA”) guidelines, the SBA will pay accrued interest through the deferral period up to a maximum of 120 days past due. Given these servicing guidelines, PPP loans that are 90 to 120 days past due will be reported as accruing loans. The following table presents the aging of the recorded investment in past due loans as of June 30, 2023 and December 31, 2022 by loan portfolio segment (in thousands): 30-59 60-89 90 Days or Greater Past Due Total Loans Not Total June 30, 2023 Commercial real estate – investor $ — $ — $ 3,958 $ 3,958 $ 5,315,728 $ 5,319,686 Commercial real estate – owner occupied 95 41 — 136 981,482 981,618 Commercial and industrial 7 149 39 195 620,089 620,284 Residential real estate — 1,997 1,702 3,699 2,902,857 2,906,556 Other consumer 738 109 1,840 2,687 252,799 255,486 $ 840 $ 2,296 $ 7,539 $ 10,675 $ 10,072,955 $ 10,083,630 December 31, 2022 Commercial real estate – investor $ 217 $ 875 $ 3,700 $ 4,792 $ 5,167,160 $ 5,171,952 Commercial real estate – owner occupied 143 80 3,750 3,973 993,394 997,367 Commercial and industrial 159 47 180 386 621,986 622,372 Residential real estate 7,003 4,377 2,069 13,449 2,848,542 2,861,991 Other consumer 573 673 1,882 3,128 261,244 264,372 $ 8,095 $ 6,052 $ 11,581 $ 25,728 $ 9,892,326 $ 9,918,054 The Company adopted Accounting Standards Update (“ASU”) 2022-02 on January 1, 2023. Since adoption, the Company has modified certain loans to borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. At June 30, 2023, loans with modifications to borrowers experiencing financial difficulty totaled $898,000 related to term extensions, which included residential real estate of $658,000 and other consumer of $240,000. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Of the $898,000 loans with modifications to borrowers experiencing financial difficulty, $755,000 were current and one residential loan of $143,000 had a payment default during the three and six months ended June 30, 2023. Prior to the adoption of ASU 2022-02, the Company classified certain loans as troubled debt restructuring (“TDR”) loans when credit terms to a borrower in financial difficulty were modified in accordance with ASC 310-40. Since adoption of this ASU, the Company has ceased to recognize or measure for new TDRs but those existing at December 31, 2022 remain until settled. At June 30, 2023 and December 31, 2022, TDR loans totaled $13.5 million and $13.9 million, respectively. At June 30, 2023 and December 31, 2022, there were $6.2 million and $6.4 million, respectively, of TDR loans included in the non-accrual loan totals. At June 30, 2023 and December 31, 2022, the Company had $436,000 and $590,000, respectively, of specific reserve allocated to one loan that was classified as a TDR loan. Non-accrual loans which become TDR loans are generally returned to accrual status after six months of performance. In addition to the TDR loans included in non-accrual loans, the Company also has TDR loans classified as accruing loans, which totaled $7.3 million and $7.5 million at June 30, 2023 and December 31, 2022, respectively. The following table presents information about TDR loans which occurred during the three and six months ended June 30, 2022 (dollars in thousands): Number of Loans Pre-modification Post-modification Three months ended June 30, 2022 Troubled debt restructurings: None None None Six months ended June 30, 2022 Troubled debt restructurings: Commercial and industrial 1 $ 65 $ 65 Consumer 3 991 1,109

Deposits

Deposits	6 Months Ended
	Jun. 30, 2023
Banking and Thrift, Other Disclosure [Abstract]
Deposits	Deposits The major types of deposits at June 30, 2023 and December 31, 2022 were as follows (in thousands): Type of Account June 30, December 31, 2023 2022 Non-interest-bearing $ 1,854,136 $ 2,101,308 Interest-bearing checking 3,537,834 3,829,683 Money market deposit 770,440 714,386 Savings 1,229,897 1,487,809 Time deposits 2,766,030 1,542,020 Total deposits $ 10,158,337 $ 9,675,206 Included in time deposits at June 30, 2023 and December 31, 2022 was $310.6 million and $117.7 million, respectively, in deposits of $250,000 or more. Time deposits also include brokered deposits of $1.42 billion and $873.4 million at June 30, 2023 and December 31, 2022, respectively.

Borrowed Funds

Borrowed Funds	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Borrowed Funds	Borrowed Funds Borrowed funds at June 30, 2023 and December 31, 2022 were as follows (in thousands): June 30, December 31, 2023 2022 FHLB advances $ 1,091,666 $ 1,211,166 Securities sold under agreements to repurchase with customers 74,452 69,097 Other borrowings 195,925 195,403 Total borrowed funds $ 1,362,043 $ 1,475,666 The Company had no FHLB overnight advances or borrowings from the Federal Reserve Bank (“FRB”) Discount Window or Bank Term Funding Program at June 30, 2023 and December 31, 2022. Pledged assets The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands): Loans Debt securities Total June 30, 2023 FHLB and FRB $ 7,147,408 $ 15,037 $ 7,162,445 Repurchase agreements — 81,919 81,919 Total pledged assets $ 7,147,408 $ 96,956 $ 7,244,364 December 31, 2022 FHLB and FRB $ 6,487,980 $ 830,057 $ 7,318,037 Repurchase agreements — 105,294 105,294 Total pledged assets $ 6,487,980 $ 935,351 $ 7,423,331 The securities pledged, which collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, or to a third-party custodian. The lender, who may sell, loan or otherwise dispose of such securities to other parties in the normal course of their operations, agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The Company uses valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability and developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and developed based on the best information available in the circumstances. In that regard, a fair value hierarchy has been established for valuation inputs that gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means. Level 3 Inputs – Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities. Assets and Liabilities Measured at Fair Value A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis, that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Debt Securities Available-for-Sale Debt securities classified as available-for-sale are reported at fair value. Fair value for these debt securities is determined using inputs other than quoted prices that are based on market observable information (Level 2). Level 2 debt securities are priced through third-party pricing services or security industry sources that actively participate in the buying and selling of securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain debt securities without relying exclusively on quoted prices for the specific securities, but comparing the debt securities to benchmark or comparable debt securities. Equity Investments Equity investments with readily determinable fair value are reported at fair value. Fair value for these investments is primarily determined using a quoted price in an active market or exchange (Level 1) or using inputs other than quoted prices that are based on market observable information (Level 2). Equity investments without readily determinable fair values are carried at cost less impairment, if any, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (measurement alternative). Certain equity investments without readily determinable fair values are measured at net asset value (“NAV”) per share as a practical expedient, which are excluded from the fair value hierarchy levels in the table below. Interest Rate Derivatives The Company’s interest rate swaps and cap contracts are reported at fair value utilizing discounted cash flow models provided by an independent, third-party and observable market data (Level 2). When entering into an interest rate swap or cap contract, the Company is exposed to fair value changes due to interest rate movements, and also the potential nonperformance of the contract counterparty. Loans Individually Measured for Impairment Loans measured for impairment based on the fair value of the underlying collateral are recorded at estimated fair value, less estimated selling costs. Fair value is based on independent appraisals (Level 3). The following table summarizes financial assets and financial liabilities measured at fair value as of June 30, 2023 and December 31, 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: Total Fair Level 1 Level 2 Level 3 June 30, 2023 Items measured on a recurring basis: Debt securities available-for-sale $ 452,016 $ — $ 452,016 $ — Equity investments 49,469 — 49,470 — Interest rate derivative asset 109,651 — 109,651 — Interest rate derivative liability (110,869) — (110,869) — Items measured on a non-recurring basis: Equity investments (1) (2) 46,983 — — 43,576 Loans measured for impairment based on the fair value of the underlying collateral (3) 9,613 — — 9,613 December 31, 2022 Items measured on a recurring basis: Debt securities available-for-sale $ 457,648 $ — $ 457,648 $ — Equity investments 61,942 430 61,511 — Interest rate derivative asset 113,420 — 113,420 — Interest rate derivative liability (113,473) — (113,473) — Items measured on a non-recurring basis: Equity investments (1) (2) 40,095 — — 37,076 Loans measured for impairment based on the fair value of the underlying collateral (3) 9,635 — — 9,635 (1) As of June 30, 2023 and December 31, 2022, primarily consists of $43.6 million and $37.1 million, respectively, of equity investments measured under the measurement alternative. This included no unrealized gains or losses for the six months ended June 30, 2023 as a result of observable price changes in the investment and $20.0 million of unrealized gains for the year ended December 31, 2022. (2) As of June 30, 2023 and December 31, 2022, equity investments of $47.0 million and $40.1 million, respectively, included $3.4 million and $3.0 million of certain equity investment funds measured at NAV per share (or its equivalent) as a practical expedient to fair value and these equity investments have not been classified in the fair value hierarchy levels. (3) Primarily consists of commercial loans, which are collateral dependent. The amounts are based on independent appraisals, which may be adjusted by management for qualitative factors, such as economic factors and estimated liquidation expenses. The range may vary but is generally 0% to 8% on the discount for costs to sell and 0% to 10% on appraisal adjustments. The following table reconciles the beginning and ending balances for equity investments that are recognized at fair value on a recurring basis, in the Consolidated Statements of Financial Condition, using significant unobservable inputs (in thousands): For the Six Months Ended June 30, 2022 Beginning balance $ 2,718 Transfers out of Level 3 (2,718) Ending balance $ — The Company recognizes transfers between levels of the valuation hierarchy at the end of the applicable reporting periods. There were no assets in Level 3 that were recognized at fair value on a recurring basis or transfers into or out of Level 3 for the three and six months ended June 30, 2023. During the six months ended June 30, 2022, the Company executed its right to convert $2.7 million of preferred stock into common stock, which resulted in a transfer from Level 3 into Level 1. Assets and Liabilities Disclosed at Fair Value A description of the valuation methodologies used for assets and liabilities disclosed at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy is set forth below. Cash and Due from Banks For cash and due from banks, the carrying amount approximates fair value. Debt Securities Held-to-Maturity Debt securities classified as held-to-maturity are carried at amortized cost, as the Company has the positive intent and ability to hold these debt securities to maturity. The Company determines the fair value of the debt securities utilizing Level 2 and, infrequently, Level 3 inputs. Most of the Company’s debt securities are fixed income instruments that are not quoted on an exchange, but are bought and sold in active markets. Prices for these instruments are obtained through third-party pricing vendors or security industry sources that actively participate in the buying and selling of debt securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain debt securities without relying exclusively on quoted prices for the specific debt securities, but comparing the debt securities to benchmark or comparable debt securities. Management’s policy is to obtain and review all available documentation from the third-party pricing service relating to their fair value determinations, including their methodology and summary of inputs. Management reviews this documentation, makes inquiries of the third-party pricing service and decides as to the level of the valuation inputs. Based on the Company’s review of the available documentation from the third-party pricing service, management concluded that Level 2 inputs were utilized for all securities except for certain debt securities where management utilized Level 3 inputs, such as broker or dealer quotes with limited levels of activity and price transparency. Restricted Equity Investments The fair value for Federal Home Loan Bank of New York, Federal Reserve Bank stock, and Atlantic Community Bankers Bank is its carrying value since this is the amount for which it could be redeemed. There is no active market for this stock and the Company is required to maintain a minimum investment as stipulated by the respective entities. Loans Receivable and Loans Held-for-Sale Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential real estate, consumer and commercial. Each loan category is further segmented into fixed and adjustable rate interest terms. Fair value of performing and non-performing loans, which is based on an exit price notion, was estimated by discounting the future cash flows, net of estimated prepayments, at market discount rates that reflect the credit and interest rate risk inherent in the loan. Deposits Other than Time Deposits The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, and interest-bearing checking accounts and money market accounts is, by definition, equal to the amount payable on demand. The related insensitivity of the majority of these deposits to interest rate changes creates a significant inherent value which is not reflected in the fair value reported. Time Deposits The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Securities Sold Under Agreements to Repurchase with Customers Fair value approximates the carrying amount as these borrowings are payable on demand and the interest rate adjusts monthly. FHLB Advances and Other Borrowings Fair value estimates are based on discounting contractual cash flows using rates which approximate the rates offered for borrowings of similar remaining maturities. The book value and estimated fair value of the Company’s significant financial instruments not recorded at fair value as of June 30, 2023 and December 31, 2022 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: Book Level 1 Level 2 Level 3 June 30, 2023 Financial Assets: Cash and due from banks $ 457,747 $ 457,747 $ — $ — Debt securities held-to-maturity 1,222,507 — 1,100,929 8,827 Restricted equity investments 105,305 — — 105,305 Loans receivable, net and loans held-for-sale 10,034,306 — — 8,895,899 Financial Liabilities: Deposits other than time deposits (1) 7,392,307 — 7,392,307 — Time deposits 2,766,030 — 2,731,216 — FHLB advances and other borrowings 1,287,591 — 1,277,187 — Securities sold under agreements to repurchase with customers 74,452 74,452 — — December 31, 2022 Financial Assets: Cash and due from banks $ 167,946 $ 167,946 $ — $ — Debt securities held-to-maturity 1,221,138 — 1,097,984 12,057 Restricted equity investments 109,278 — — 109,278 Loans receivable, net and loans held-for-sale 9,869,408 — — 9,103,137 Financial Liabilities: Deposits other than time deposits (1) 8,133,186 — 8,133,186 — Time deposits 1,542,020 — 1,504,601 — FHLB advances and other borrowings 1,406,569 — 1,416,384 — Securities sold under agreements to repurchase with customers 69,097 69,097 — — (1) The estimated fair value of non-maturity deposits does not consider any inherent value and represents amount payable on demand. However, non-maturity deposits do contain significant inherent value to the Company, particularly when overnight funding costs are greater than the deposit costs. Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because a limited market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other significant unobservable inputs. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial assets or liabilities include premises and equipment, bank owned life insurance, deferred tax assets and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company enters into derivative financial instruments which involve, to varying degrees, interest rate and credit risk. The Company manages these risks as part of its asset and liability management process and through credit policies and procedures, seeking to minimize counterparty credit risk by establishing credit limits and collateral agreements. The Company utilizes derivative financial instruments to accommodate the business needs of its customers as well as to economically hedge the exposure that this creates for the Company. Additionally, the Company enters into certain derivative financial instruments to enhance its ability to manage interest rate risk that exists as part of its ongoing business operations. The Company does not use derivative financial instruments for trading purposes. Customer Derivatives – Interest Rate Swaps and Cap Contracts Derivatives Not Designated as Hedging Instruments The Company enters into interest rate swaps that allow commercial loan customers to effectively convert a variable-rate commercial loan agreement to a fixed-rate commercial loan agreement. Under these agreements, the Company enters into a variable-rate loan agreement with a customer in addition to an interest rate swap agreement, which serves to effectively swap the customer’s variable-rate loan into a fixed-rate loan. The Company then enters into a corresponding swap agreement with a third party in order to economically hedge its exposure through the customer agreement. The Company also enters into interest rate cap contracts that enable commercial loan customers to lock in a cap on a variable-rate commercial loan agreement. This feature prevents the loan from repricing to a level that exceeds the cap contract’s specified interest rate, which serves to hedge the risk from rising interest rates. The Company then enters into an offsetting interest rate cap contract with a third party in order to economically hedge its exposure through the customer agreement. These interest rate swaps and cap contracts with both the customers and third parties are not designated as hedges under ASC Topic 815, Derivatives and Hedging, therefore changes in fair value are reported in earnings. As the interest rate swaps and cap contracts are structured to offset each other, changes to the underlying benchmark interest rates considered in the valuation of these instruments do not result in an impact to earnings; however, there may be fair value adjustments related to credit quality variations between counterparties, which may impact earnings as required by ASC Topic 820, Fair Value Measurements. The Company recognized gains of $22,000 and $0 in commercial loan swap income resulting from the fair value adjustment for the three and six months ended June 30, 2023, respectively, as compared to gains of $0 and $37,000 for the corresponding prior year periods. Derivatives Designated as Hedging Instruments During the fourth quarter of 2022, the Company entered into a three-year interest rate swap intended to add stability to its net interest income and to manage its exposure to future interest rate movements associated with a pool of floating rate commercial loans. The swap requires the Company to pay variable-rate amounts indexed to one-month term Secured Overnight Financing Rate (“SOFR”) to the counterparty in exchange for the receipt of fixed-rate amounts at 4.0% from the counterparty. The swap was designated and qualified as a cash flow hedge, under ASC Topic 815, Derivatives and Hedging. The changes in the fair value of cash flow hedges are initially reported in other comprehensive income. Amounts are subsequently reclassified from accumulated other comprehensive income to earnings when the hedged transactions occur, specifically within the same line item as the hedged item (interest income). Therefore, a portion of the balance reported in accumulated other comprehensive income related to derivatives will be reclassified to interest income as interest payments are made or received on the Company’s interest rate swaps. The table below presents the effect on the Company’s accumulated other comprehensive income/loss (“AOCI” or “AOCL”) attributable to the cash flow hedge derivative, net of tax, and the related gains/(losses) reclassified from AOCI into income (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2023 AOCI (AOCL) balance at beginning of period, net of tax $ 488 $ (25) Unrealized losses recognized in OCI (1,588) (1,176) Losses reclassified from AOCI into interest income 191 292 AOCL balance at end of period, net of tax $ (909) $ (909) During the next twelve months, the Company estimates that an additional $1.2 million will be reclassified as a reduction to interest income. The table below presents the notional amount and fair value of derivatives designated and not designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition (in thousands): Notional Fair Value Other assets Other liabilities As of June 30, 2023 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,424,747 $ 109,651 $ 109,670 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 1,199 Total Derivatives $ 1,524,747 $ 109,651 $ 110,869 December 31, 2022 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,368,245 $ 113,420 $ 113,440 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 33 Total Derivatives $ 1,468,245 $ 113,420 $ 113,473 Credit Risk-Related Contingent Features The Company is exposed to credit risk in the event of nonperformance by the interest rate derivative counterparty. The Company minimizes this risk by being a party to International Swaps and Derivatives Association agreements with third party broker-dealers that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties was $0 and $40,000 at June 30, 2023 and December 31, 2022, respectively. The amount of collateral received from third parties was $112.5 million and $104.5 million at June 30, 2023 and December 31, 2022, respectively. The amount of collateral posted with third parties and received from third parties is deemed to be sufficient to collateralize both the fair market value change as well as any additional amounts that may be required as a result of a change in the specified credit measures. The aggregate fair value of all derivative financial instruments in a liability position with credit measure contingencies and entered into with third parties was $110.9 million and $113.5 million at June 30, 2023 and December 31, 2022, respectively. The interest rate derivatives which the Company executes with the commercial borrowers are collateralized by the borrowers’ commercial real estate financed by the Company.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029. The following table represents the classification of the Company’s ROU assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): June 30, December 31, 2023 2022 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 20,044 $ 19,055 Finance lease ROU asset Premises and equipment, net 1,420 1,532 Total lease ROU assets $ 21,464 $ 20,587 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 21,080 $ 20,053 Finance lease liability Other borrowings 1,811 1,934 Total lease liabilities $ 22,891 $ 21,987 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $6.8 million and $7.7 million at June 30, 2023 and December 31, 2022, respectively. The calculated amount of the ROU assets and lease liabilities are impacted by the lease term and the discount rate used to calculate the present value of the minimum lease payments. Lease agreements often include one or more options to renew the lease at the Company’s discretion. If the exercise of a renewal option is considered to be reasonably certain, the Company includes the extended term in the calculation of the ROU asset and lease liability. For the discount rate, ASC Topic 842, Leases requires the Company to use the rate implicit in the lease, provided the rate is readily determinable. As this rate is not readily determinable, the Company utilizes its incremental borrowing rate, at lease inception, over a similar term. For operating leases existing prior to January 1, 2019, the Company used the incremental borrowing rate for the remaining lease term as of January 1, 2019. For the finance lease, the Company utilized its incremental borrowing rate at lease inception. June 30, December 31, 2023 2022 Weighted-Average Remaining Lease Term Operating leases 6.68 years 6.87 years Finance lease 6.10 years 6.60 years Weighted-Average Discount Rate Operating leases 2.86 % 2.86 % Finance lease 5.63 5.63 The following table represents lease expenses and other lease information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Lease Expense Operating lease expense $ 1,174 $ 1,440 $ 2,319 $ 2,698 Finance lease expense: Amortization of ROU assets 54 50 112 99 Interest on lease liabilities (1) 26 26 52 52 Total $ 1,254 $ 1,516 $ 2,483 $ 2,849 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,121 $ 1,249 $ 2,260 $ 2,411 Operating cash flows from finance leases 26 26 52 52 Financing cash flows from finance leases 62 51 123 102 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income. Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2023 $ 175 $ 2,311 2024 350 4,334 2025 350 4,274 2026 350 3,648 2027 350 2,489 Thereafter 559 6,400 Total 2,134 23,456 Less: Imputed interest (323) (2,376) Total lease liabilities $ 1,811 $ 21,080
Leases	Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029. The following table represents the classification of the Company’s ROU assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): June 30, December 31, 2023 2022 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 20,044 $ 19,055 Finance lease ROU asset Premises and equipment, net 1,420 1,532 Total lease ROU assets $ 21,464 $ 20,587 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 21,080 $ 20,053 Finance lease liability Other borrowings 1,811 1,934 Total lease liabilities $ 22,891 $ 21,987 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $6.8 million and $7.7 million at June 30, 2023 and December 31, 2022, respectively. The calculated amount of the ROU assets and lease liabilities are impacted by the lease term and the discount rate used to calculate the present value of the minimum lease payments. Lease agreements often include one or more options to renew the lease at the Company’s discretion. If the exercise of a renewal option is considered to be reasonably certain, the Company includes the extended term in the calculation of the ROU asset and lease liability. For the discount rate, ASC Topic 842, Leases requires the Company to use the rate implicit in the lease, provided the rate is readily determinable. As this rate is not readily determinable, the Company utilizes its incremental borrowing rate, at lease inception, over a similar term. For operating leases existing prior to January 1, 2019, the Company used the incremental borrowing rate for the remaining lease term as of January 1, 2019. For the finance lease, the Company utilized its incremental borrowing rate at lease inception. June 30, December 31, 2023 2022 Weighted-Average Remaining Lease Term Operating leases 6.68 years 6.87 years Finance lease 6.10 years 6.60 years Weighted-Average Discount Rate Operating leases 2.86 % 2.86 % Finance lease 5.63 5.63 The following table represents lease expenses and other lease information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Lease Expense Operating lease expense $ 1,174 $ 1,440 $ 2,319 $ 2,698 Finance lease expense: Amortization of ROU assets 54 50 112 99 Interest on lease liabilities (1) 26 26 52 52 Total $ 1,254 $ 1,516 $ 2,483 $ 2,849 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,121 $ 1,249 $ 2,260 $ 2,411 Operating cash flows from finance leases 26 26 52 52 Financing cash flows from finance leases 62 51 123 102 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income. Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2023 $ 175 $ 2,311 2024 350 4,334 2025 350 4,274 2026 350 3,648 2027 350 2,489 Thereafter 559 6,400 Total 2,134 23,456 Less: Imputed interest (323) (2,376) Total lease liabilities $ 1,811 $ 21,080

Variable Interest Entity

Variable Interest Entity	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity	Variable Interest Entity The Company accounts for Trident as a variable interest entity (“VIE”) under ASC 810, Consolidation, for which the Company is considered the primary beneficiary (i.e. the party that has a controlling financial interest). In accordance with ASC 810, Consolidation, the Company has consolidated Trident’s assets and liabilities. The summarized financial information for the Company’s consolidated VIE at June 30, 2023 and December 31, 2022 consisted of the following (in thousands): June 30, 2023 December 31, 2022 Cash and cash equivalents $ 37,022 $ 30,062 Other assets 805 941 Total assets 37,827 31,003 Other liabilities 35,706 28,998 Net assets $ 2,121 $ 2,005

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,797	$ 28,961	$ 55,680	$ 54,720

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 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

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The consolidated financial statements include: the accounts of OceanFirst Financial Corp. (the “Company”); its wholly-owned subsidiaries, OceanFirst Bank N.A. (the “Bank”) and OceanFirst Risk Management, Inc.; the Bank’s direct and indirect wholly-owned subsidiaries, OceanFirst REIT Holdings, Inc., OceanFirst Management Corp., OceanFirst Realty Corp., Casaba Real Estate Holdings Corporation, and Country Property Holdings, Inc; and a majority controlling interest in Trident. Certain other subsidiaries were dissolved in 2022 and are included in the consolidated financial statements for previous periods. All significant intercompany accounts and transactions have been eliminated in consolidation.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Shares Outstanding for Basic and Diluted Earnings Per Share	The following reconciles shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average shares outstanding 59,451 59,300 59,371 59,302 Less: Unallocated ESOP shares (273) (393) (287) (408) Unallocated incentive award shares (31) (13) (96) (71) Average basic shares outstanding 59,147 58,894 58,988 58,823 Add: Effect of dilutive securities: Incentive awards 6 101 50 152 Average diluted shares outstanding 59,153 58,995 59,038 58,975

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-sale	The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022 are as follows (in thousands): Amortized Gross Gross Estimated Allowance for Credit Losses At June 30, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 73,026 $ — $ (7,228) $ 65,798 $ — Corporate debt securities 10,077 — (1,141) 8,936 — Asset-backed securities 296,212 — (11,375) 284,837 — Agency commercial mortgage-backed securities (“MBS”) 110,073 — (17,628) 92,445 — Total debt securities available-for-sale $ 489,388 $ — $ (37,372) $ 452,016 $ — Debt securities held-to-maturity: State and municipal debt obligations $ 249,515 $ 90 $ (22,371) $ 227,234 $ (52) Corporate debt securities 54,948 51 (5,349) 49,650 (907) Mortgage-backed securities: Agency residential 863,179 400 (84,246) 779,333 — Agency commercial 32,569 — (1,794) 30,775 — Non-agency commercial 25,286 — (2,522) 22,764 (5) Total mortgage-backed securities 921,034 400 (88,562) 832,872 (5) Total debt securities held-to-maturity $ 1,225,497 $ 541 $ (116,282) $ 1,109,756 $ (964) Total debt securities $ 1,714,885 $ 541 $ (153,654) $ 1,561,772 $ (964) At December 31, 2022 Debt securities available-for-sale: U.S. government and agency obligations $ 87,648 $ 1 $ (7,635) $ 80,014 $ — Corporate debt securities 8,928 — (756) 8,172 — Asset-backed securities 296,222 — (19,349) 276,873 — Agency commercial MBS 110,606 — (18,017) 92,589 — Total debt securities available-for-sale $ 503,404 $ 1 $ (45,757) $ 457,648 $ — Debt securities held-to-maturity: State, municipal, and sovereign debt obligations $ 260,249 $ 46 $ (24,940) $ 235,355 $ (60) Corporate debt securities 56,893 380 (3,778) 53,495 (1,059) Mortgage-backed securities: Agency residential 849,985 795 (83,586) 767,194 — Agency commercial 32,127 23 (1,189) 30,961 — Non-agency commercial 25,310 — (2,274) 23,036 (9) Total mortgage-backed securities 907,422 818 (87,049) 821,191 (9) Total debt securities held-to-maturity $ 1,224,564 $ 1,244 $ (115,767) $ 1,110,041 $ (1,128) Total debt securities $ 1,727,968 $ 1,245 $ (161,524) $ 1,567,689 $ (1,128)
Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss	The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Allowance for securities credit losses Beginning balance $ (1,043) $ (1,380) $ (1,128) $ (1,467) Provision for credit loss benefit 79 87 164 174 Total ending allowance balance $ (964) $ (1,293) $ (964) $ (1,293)
Schedule of Debt Securities, Held-to-maturity, Credit Quality Indicator	Under this approach, the amortized cost of debt securities held-to-maturity at June 30, 2023, aggregated by credit quality indicator, are as follows (in thousands): Investment Grade Non-Investment Grade/Non-rated Total As of June 30, 2023 State and municipal debt obligations $ 249,515 $ — $ 249,515 Corporate debt securities 40,408 14,540 54,948 Non-agency commercial MBS 25,286 — 25,286 Total debt securities held-to-maturity $ 315,209 $ 14,540 $ 329,749
Schedule of Carrying Value of Held-to-Maturity Investment Securities	The carrying value of debt securities held-to-maturity at June 30, 2023 and December 31, 2022 is as follows (in thousands): June 30, December 31, 2023 2022 Amortized cost $ 1,225,497 $ 1,224,564 Allowance for securities credit losses (964) (1,128) Net loss on date of transfer from available-for-sale (13,556) (13,556) Accretion of net unrealized loss on securities reclassified as held-to-maturity 11,530 11,258 Carrying value $ 1,222,507 $ 1,221,138 The realized and unrealized gains or losses on equity securities for the three and six months ended June 30, 2023 and 2022 are shown in the table below (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net loss on equity investments $ (559) $ (8,078) $ (7,360) $ (10,864) Less: Net (losses) gains recognized on equity investments sold (854) (231) (5,462) 1,351 Unrealized gains (losses) recognized on equity investments still held $ 295 $ (7,847) $ (1,898) $ (12,215)
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity	The amortized cost and estimated fair value of debt securities at June 30, 2023 by contractual maturity are shown below (in thousands): June 30, 2023 Amortized Estimated Less than one year $ 36,231 $ 35,786 Due after one year through five years 176,032 160,455 Due after five years through ten years 207,267 193,962 Due after ten years 264,248 246,252 $ 683,778 $ 636,455
Schedule of Estimated Fair Value and Unrealized Loss for Securities Available-for-Sale and Held-to-Maturity	The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at June 30, 2023 and December 31, 2022, segregated by the duration of the unrealized losses, are as follows (in thousands): Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized At June 30, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 2,334 $ (25) $ 63,464 $ (7,203) $ 65,798 $ (7,228) Corporate debt securities 6,557 (520) 2,379 (621) 8,936 (1,141) Asset-backed securities — — 284,837 (11,375) 284,837 (11,375) Agency commercial MBS — — 92,445 (17,628) 92,445 (17,628) Total debt securities available-for-sale 8,891 (545) 443,125 (36,827) 452,016 (37,372) Debt securities held-to-maturity: State and municipal debt obligations 29,552 (368) 191,803 (22,003) 221,355 (22,371) Corporate debt securities 5,532 (576) 39,686 (4,773) 45,218 (5,349) MBS: Agency residential 227,401 (5,715) 498,132 (78,531) 725,533 (84,246) Agency commercial 28,478 (1,751) 1,899 (43) 30,377 (1,794) Non-agency commercial — — 22,764 (2,522) 22,764 (2,522) Total MBS 255,879 (7,466) 522,795 (81,096) 778,674 (88,562) Total debt securities held-to-maturity 290,963 (8,410) 754,284 (107,872) 1,045,247 (116,282) Total debt securities $ 299,854 $ (8,955) $ 1,197,409 $ (144,699) $ 1,497,263 $ (153,654) At December 31, 2022 Debt securities available-for-sale: U.S. government and agency obligations $ 27,232 $ (450) $ 52,782 $ (7,185) $ 80,014 $ (7,635) Corporate debt securities 4,735 (193) 3,437 (563) 8,172 (756) Asset-backed securities 143,392 (9,179) 133,481 (10,170) 276,873 (19,349) Agency commercial MBS 8,782 (1,675) 83,807 (16,342) 92,589 (18,017) Total debt securities available-for-sale 184,141 (11,497) 273,507 (34,260) 457,648 (45,757) Debt securities held-to-maturity: State, municipal, and sovereign debt obligations 133,492 (11,952) 97,135 (12,988) 230,627 (24,940) Corporate debt securities 11,783 (598) 36,152 (3,180) 47,935 (3,778) MBS: Agency residential 297,296 (12,404) 397,036 (71,182) 694,332 (83,586) Agency commercial 25,936 (1,150) 2,062 (39) 27,998 (1,189) Non-agency commercial 16,839 (1,621) 6,198 (653) 23,037 (2,274) Total MBS 340,071 (15,175) 405,296 (71,874) 745,367 (87,049) Total debt securities held-to-maturity 485,346 (27,725) 538,583 (88,042) 1,023,929 (115,767) Total debt securities $ 669,487 $ (39,222) $ 812,090 $ (122,302) $ 1,481,577 $ (161,524)

Loans Receivable, Net (Tables)

Loans Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Loans Receivable	Loans receivable, net at June 30, 2023 and December 31, 2022 consisted of the following (in thousands): June 30, December 31, 2023 2022 Commercial: Commercial real estate – investor $ 5,319,686 $ 5,171,952 Commercial real estate – owner occupied 981,618 997,367 Commercial and industrial 620,284 622,372 Total commercial 6,921,588 6,791,691 Consumer: Residential real estate 2,906,556 2,861,991 Home equity loans and lines and other consumer (“other consumer”) 255,486 264,372 Total consumer 3,162,042 3,126,363 Total loans receivable 10,083,630 9,918,054 Deferred origination costs, net of fees 8,267 7,488 Allowance for loan credit losses (61,791) (56,824) Total loans receivable, net $ 10,030,106 $ 9,868,718
Schedule of Risk Category of Loans by Loan Portfolio Segment Excluding PCI Loans	The following tables summarize total loans by year of origination, internally assigned credit grades and risk characteristics (in thousands): 2023 2022 2021 2020 2019 2018 and prior Revolving lines of credit Total June 30, 2023 Commercial real estate - investor Pass $ 116,385 $ 1,169,785 $ 1,304,903 $ 535,020 $ 502,580 $ 994,662 $ 616,235 $ 5,239,570 Special Mention — — 2,460 188 63 17,502 1,388 21,601 Substandard — — — 3,750 20,109 33,398 1,258 58,515 Total commercial real estate - investor 116,385 1,169,785 1,307,363 538,958 522,752 1,045,562 618,881 5,319,686 Commercial real estate - owner occupied Pass 51,839 117,775 110,128 66,894 108,189 488,320 12,127 955,272 Special Mention — — — — — 4,895 — 4,895 Substandard — — — — 2,003 19,358 90 21,451 Total commercial real estate - owner occupied 51,839 117,775 110,128 66,894 110,192 512,573 12,217 981,618 Commercial and industrial Pass 65,775 57,240 21,505 11,258 9,781 57,200 390,624 613,383 Special Mention — — 10 — — 210 2,037 2,257 Substandard — — 21 18 960 2,006 1,639 4,644 Total commercial and industrial 65,775 57,240 21,536 11,276 10,741 59,416 394,300 620,284 Residential real estate (1) Pass 111,815 931,294 582,192 405,474 234,279 637,803 — 2,902,857 Special Mention — 308 — 206 147 1,336 — 1,997 Substandard 62 56 — 258 487 839 — 1,702 Total residential real estate 111,877 931,658 582,192 405,938 234,913 639,978 — 2,906,556 Other consumer (1) Pass 15,400 22,078 22,150 13,850 14,128 131,342 34,589 253,537 Special Mention — — — — — 109 — 109 Substandard — — — — 49 1,791 — 1,840 Total other consumer 15,400 22,078 22,150 13,850 14,177 133,242 34,589 255,486 Total loans $ 361,276 $ 2,298,536 $ 2,043,369 $ 1,036,916 $ 892,775 $ 2,390,771 $ 1,059,987 $ 10,083,630 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. 2022 2021 2020 2019 2018 2017 and prior Revolving lines of credit Total December 31, 2022 Commercial real estate - investor Pass $ 1,144,763 $ 1,339,289 $ 555,937 $ 524,428 $ 220,999 $ 881,344 $ 450,787 $ 5,117,547 Special Mention — 2,508 192 17,094 — 12,818 2,188 34,800 Substandard — — — 893 — 18,180 532 19,605 Total commercial real estate - investor 1,144,763 1,341,797 556,129 542,415 220,999 912,342 453,507 5,171,952 Commercial real estate - owner occupied Pass 119,912 110,440 59,952 115,385 88,204 458,708 14,932 967,533 Special Mention — — — — 748 5,679 — 6,427 Substandard — — 3,750 2,037 4,817 12,803 — 23,407 Total commercial real estate - owner occupied 119,912 110,440 63,702 117,422 93,769 477,190 14,932 997,367 Commercial and industrial Pass 60,078 23,724 14,072 17,175 10,992 47,370 443,211 616,622 Special Mention — 7 — — — 250 1,680 1,937 Substandard — 21 76 1,083 301 2,212 120 3,813 Total commercial and industrial 60,078 23,752 14,148 18,258 11,293 49,832 445,011 622,372 Residential real estate (1) Pass 919,364 591,745 419,712 247,387 99,945 577,392 — 2,855,545 Special Mention — 193 1,514 204 59 2,407 — 4,377 Substandard — — — 656 286 1,127 — 2,069 Total residential real estate 919,364 591,938 421,226 248,247 100,290 580,926 — 2,861,991 Other consumer (1) Pass 24,069 24,111 15,440 15,471 39,057 108,818 34,851 261,817 Special Mention — — — 75 — 598 — 673 Substandard — — — 157 18 1,707 — 1,882 Total other consumer 24,069 24,111 15,440 15,703 39,075 111,123 34,851 264,372 Total loans $ 2,268,186 $ 2,092,038 $ 1,070,645 $ 942,045 $ 465,426 $ 2,131,413 $ 948,301 $ 9,918,054
Schedule of Analysis of Allowance for Loan Losses	An analysis of the allowance for credit losses on loans for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands): Commercial Commercial Commercial Residential Other Consumer Total For the three months ended June 30, 2023 Allowance for credit losses on loans Balance at beginning of period $ 22,451 $ 4,116 $ 5,827 $ 26,928 $ 873 $ 60,195 Provision (benefit) for credit losses 2,029 223 239 (785) 13 1,719 Charge-offs (1) — — (125) — (81) (206) Recoveries 1 3 4 9 66 83 Balance at end of period $ 24,481 $ 4,342 $ 5,945 $ 26,152 $ 871 $ 61,791 For the three months ended June 30, 2022 Allowance for credit losses on loans Balance at beginning of period $ 23,637 $ 5,053 $ 4,649 $ 16,277 $ 982 $ 50,598 (Benefit) provision for credit losses (1,080) (116) 572 1,966 130 1,472 Charge-offs — (14) — (56) (217) (287) Recoveries 51 98 19 9 101 278 Balance at end of period $ 22,608 $ 5,021 $ 5,240 $ 18,196 $ 996 $ 52,061 For the six months ended June 30, 2023 Allowance for credit losses on loans Balance at beginning of period $ 21,070 $ 4,423 $ 5,695 $ 24,530 $ 1,106 $ 56,824 Provision (benefit) for credit losses 3,408 (81) 370 1,605 (259) 5,043 Charge-offs (1) — (6) (128) — (82) (216) Recoveries 3 6 8 17 106 140 Balance at end of period $ 24,481 $ 4,342 $ 5,945 $ 26,152 $ 871 $ 61,791 For the six months ended June 30, 2022 Allowance for credit losses on loans Balance at beginning of period $ 25,504 $ 5,884 $ 5,039 $ 11,155 $ 1,268 $ 48,850 (Benefit) provision for credit losses (2,947) (956) 166 6,994 (129) 3,128 Charge-offs — (18) — (56) (356) (430) Recoveries 51 111 35 103 213 513 Balance at end of period $ 22,608 $ 5,021 $ 5,240 $ 18,196 $ 996 $ 52,061 (1) Gross charge-offs for the three and six months ended June 30, 2023 of $206,000 and $216,000, respectively, related to loans that were originated in and prior to 2018.
Schedule of Recorded Investment in Non-Accrual Loans by Loan Portfolio Segment Excluding PCI Loans	The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, 2023 2022 Commercial real estate – investor $ 13,000 $ 10,483 Commercial real estate – owner occupied 565 4,025 Commercial and industrial 199 331 Residential real estate 6,174 5,969 Other consumer 2,820 2,457 $ 22,758 $ 23,265
Schedule of Aging of Recorded Investment in Past Due Loans Excluding PCI Loans	The following table presents the aging of the recorded investment in past due loans as of June 30, 2023 and December 31, 2022 by loan portfolio segment (in thousands): 30-59 60-89 90 Days or Greater Past Due Total Loans Not Total June 30, 2023 Commercial real estate – investor $ — $ — $ 3,958 $ 3,958 $ 5,315,728 $ 5,319,686 Commercial real estate – owner occupied 95 41 — 136 981,482 981,618 Commercial and industrial 7 149 39 195 620,089 620,284 Residential real estate — 1,997 1,702 3,699 2,902,857 2,906,556 Other consumer 738 109 1,840 2,687 252,799 255,486 $ 840 $ 2,296 $ 7,539 $ 10,675 $ 10,072,955 $ 10,083,630 December 31, 2022 Commercial real estate – investor $ 217 $ 875 $ 3,700 $ 4,792 $ 5,167,160 $ 5,171,952 Commercial real estate – owner occupied 143 80 3,750 3,973 993,394 997,367 Commercial and industrial 159 47 180 386 621,986 622,372 Residential real estate 7,003 4,377 2,069 13,449 2,848,542 2,861,991 Other consumer 573 673 1,882 3,128 261,244 264,372 $ 8,095 $ 6,052 $ 11,581 $ 25,728 $ 9,892,326 $ 9,918,054
Schedule of Troubled Debt Restructurings	The following table presents information about TDR loans which occurred during the three and six months ended June 30, 2022 (dollars in thousands): Number of Loans Pre-modification Post-modification Three months ended June 30, 2022 Troubled debt restructurings: None None None Six months ended June 30, 2022 Troubled debt restructurings: Commercial and industrial 1 $ 65 $ 65 Consumer 3 991 1,109

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2023
Banking and Thrift, Other Disclosure [Abstract]
Schedule of Major Types of Deposits	The major types of deposits at June 30, 2023 and December 31, 2022 were as follows (in thousands): Type of Account June 30, December 31, 2023 2022 Non-interest-bearing $ 1,854,136 $ 2,101,308 Interest-bearing checking 3,537,834 3,829,683 Money market deposit 770,440 714,386 Savings 1,229,897 1,487,809 Time deposits 2,766,030 1,542,020 Total deposits $ 10,158,337 $ 9,675,206

Borrowed Funds (Tables)

Borrowed Funds (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Borrowed Funds	Borrowed funds at June 30, 2023 and December 31, 2022 were as follows (in thousands): June 30, December 31, 2023 2022 FHLB advances $ 1,091,666 $ 1,211,166 Securities sold under agreements to repurchase with customers 74,452 69,097 Other borrowings 195,925 195,403 Total borrowed funds $ 1,362,043 $ 1,475,666
Schedule of Pledged Assets	The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands): Loans Debt securities Total June 30, 2023 FHLB and FRB $ 7,147,408 $ 15,037 $ 7,162,445 Repurchase agreements — 81,919 81,919 Total pledged assets $ 7,147,408 $ 96,956 $ 7,244,364 December 31, 2022 FHLB and FRB $ 6,487,980 $ 830,057 $ 7,318,037 Repurchase agreements — 105,294 105,294 Total pledged assets $ 6,487,980 $ 935,351 $ 7,423,331

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value	The following table summarizes financial assets and financial liabilities measured at fair value as of June 30, 2023 and December 31, 2022, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: Total Fair Level 1 Level 2 Level 3 June 30, 2023 Items measured on a recurring basis: Debt securities available-for-sale $ 452,016 $ — $ 452,016 $ — Equity investments 49,469 — 49,470 — Interest rate derivative asset 109,651 — 109,651 — Interest rate derivative liability (110,869) — (110,869) — Items measured on a non-recurring basis: Equity investments (1) (2) 46,983 — — 43,576 Loans measured for impairment based on the fair value of the underlying collateral (3) 9,613 — — 9,613 December 31, 2022 Items measured on a recurring basis: Debt securities available-for-sale $ 457,648 $ — $ 457,648 $ — Equity investments 61,942 430 61,511 — Interest rate derivative asset 113,420 — 113,420 — Interest rate derivative liability (113,473) — (113,473) — Items measured on a non-recurring basis: Equity investments (1) (2) 40,095 — — 37,076 Loans measured for impairment based on the fair value of the underlying collateral (3) 9,635 — — 9,635 (1) As of June 30, 2023 and December 31, 2022, primarily consists of $43.6 million and $37.1 million, respectively, of equity investments measured under the measurement alternative. This included no unrealized gains or losses for the six months ended June 30, 2023 as a result of observable price changes in the investment and $20.0 million of unrealized gains for the year ended December 31, 2022. (2) As of June 30, 2023 and December 31, 2022, equity investments of $47.0 million and $40.1 million, respectively, included $3.4 million and $3.0 million of certain equity investment funds measured at NAV per share (or its equivalent) as a practical expedient to fair value and these equity investments have not been classified in the fair value hierarchy levels.
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table reconciles the beginning and ending balances for equity investments that are recognized at fair value on a recurring basis, in the Consolidated Statements of Financial Condition, using significant unobservable inputs (in thousands): For the Six Months Ended June 30, 2022 Beginning balance $ 2,718 Transfers out of Level 3 (2,718) Ending balance $ —
Schedule of Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value	The book value and estimated fair value of the Company’s significant financial instruments not recorded at fair value as of June 30, 2023 and December 31, 2022 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: Book Level 1 Level 2 Level 3 June 30, 2023 Financial Assets: Cash and due from banks $ 457,747 $ 457,747 $ — $ — Debt securities held-to-maturity 1,222,507 — 1,100,929 8,827 Restricted equity investments 105,305 — — 105,305 Loans receivable, net and loans held-for-sale 10,034,306 — — 8,895,899 Financial Liabilities: Deposits other than time deposits (1) 7,392,307 — 7,392,307 — Time deposits 2,766,030 — 2,731,216 — FHLB advances and other borrowings 1,287,591 — 1,277,187 — Securities sold under agreements to repurchase with customers 74,452 74,452 — — December 31, 2022 Financial Assets: Cash and due from banks $ 167,946 $ 167,946 $ — $ — Debt securities held-to-maturity 1,221,138 — 1,097,984 12,057 Restricted equity investments 109,278 — — 109,278 Loans receivable, net and loans held-for-sale 9,869,408 — — 9,103,137 Financial Liabilities: Deposits other than time deposits (1) 8,133,186 — 8,133,186 — Time deposits 1,542,020 — 1,504,601 — FHLB advances and other borrowings 1,406,569 — 1,416,384 — Securities sold under agreements to repurchase with customers 69,097 69,097 — — (1) The estimated fair value of non-maturity deposits does not consider any inherent value and represents amount payable on demand. However, non-maturity deposits do contain significant inherent value to the Company, particularly when overnight funding costs are greater than the deposit costs.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Accumulated Other Comprehensive Income Attributable to Cash Flow Hedge Derivative	The table below presents the effect on the Company’s accumulated other comprehensive income/loss (“AOCI” or “AOCL”) attributable to the cash flow hedge derivative, net of tax, and the related gains/(losses) reclassified from AOCI into income (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2023 AOCI (AOCL) balance at beginning of period, net of tax $ 488 $ (25) Unrealized losses recognized in OCI (1,588) (1,176) Losses reclassified from AOCI into interest income 191 292 AOCL balance at end of period, net of tax $ (909) $ (909)
Schedule of Notional Amounts of Outstanding Derivative Positions	The table below presents the notional amount and fair value of derivatives designated and not designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition (in thousands): Notional Fair Value Other assets Other liabilities As of June 30, 2023 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,424,747 $ 109,651 $ 109,670 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 1,199 Total Derivatives $ 1,524,747 $ 109,651 $ 110,869 December 31, 2022 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,368,245 $ 113,420 $ 113,440 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 33 Total Derivatives $ 1,468,245 $ 113,420 $ 113,473

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Right-of-Use Assets and Lease Liabilities	The following table represents the classification of the Company’s ROU assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): June 30, December 31, 2023 2022 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 20,044 $ 19,055 Finance lease ROU asset Premises and equipment, net 1,420 1,532 Total lease ROU assets $ 21,464 $ 20,587 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 21,080 $ 20,053 Finance lease liability Other borrowings 1,811 1,934 Total lease liabilities $ 22,891 $ 21,987 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $6.8 million and $7.7 million at June 30, 2023 and December 31, 2022, respectively.
Schedule of Weighted Average Remaining Lease Term and Discount Rate	June 30, December 31, 2023 2022 Weighted-Average Remaining Lease Term Operating leases 6.68 years 6.87 years Finance lease 6.10 years 6.60 years Weighted-Average Discount Rate Operating leases 2.86 % 2.86 % Finance lease 5.63 5.63
Schedule of Lease Costs and Other Lease Information	The following table represents lease expenses and other lease information (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Lease Expense Operating lease expense $ 1,174 $ 1,440 $ 2,319 $ 2,698 Finance lease expense: Amortization of ROU assets 54 50 112 99 Interest on lease liabilities (1) 26 26 52 52 Total $ 1,254 $ 1,516 $ 2,483 $ 2,849 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,121 $ 1,249 $ 2,260 $ 2,411 Operating cash flows from finance leases 26 26 52 52 Financing cash flows from finance leases 62 51 123 102 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income.
Future Minimum Payments for Finance Leases	Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2023 $ 175 $ 2,311 2024 350 4,334 2025 350 4,274 2026 350 3,648 2027 350 2,489 Thereafter 559 6,400 Total 2,134 23,456 Less: Imputed interest (323) (2,376) Total lease liabilities $ 1,811 $ 21,080
Future Minimum Payments for Operating Leases	Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2023 $ 175 $ 2,311 2024 350 4,334 2025 350 4,274 2026 350 3,648 2027 350 2,489 Thereafter 559 6,400 Total 2,134 23,456 Less: Imputed interest (323) (2,376) Total lease liabilities $ 1,811 $ 21,080

Variable Interest Entity (Table

Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Information of Variable Interest Entities	The summarized financial information for the Company’s consolidated VIE at June 30, 2023 and December 31, 2022 consisted of the following (in thousands): June 30, 2023 December 31, 2022 Cash and cash equivalents $ 37,022 $ 30,062 Other assets 805 941 Total assets 37,827 31,003 Other liabilities 35,706 28,998 Net assets $ 2,121 $ 2,005

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation of Shares Outstanding for Basic and Diluted Earnings per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	59,451	59,300	59,371	59,302
Less: Unallocated ESOP shares (in shares)	(273)	(393)	(287)	(408)
Unallocated incentive award shares (in shares)	(31)	(13)	(96)	(71)
Average basic shares outstanding (in shares)	59,147	58,894	58,988	58,823
Add: Effect of dilutive securities:
Incentive awards (in shares)	6	101	50	152
Average diluted shares outstanding (in shares)	59,153	58,995	59,038	58,975

Earnings per Share - Additional

Earnings per Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive stock options excluded from earnings per share calculations (in shares)	1,986	1,577	1,540	1,573

Securities - Amortized Cost and

Securities - Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	$ 489,388		$ 503,404
Available-for-sale, gross unrealized gains	0		1
Available-for-sale, gross unrealized losses	(37,372)		(45,757)
Available-for-sale, fair value	452,016		457,648
Allowance for Credit Losses	0		0
Amortized Cost	1,225,497		1,224,564
Held-to-maturity, gross unrealized gains	541		1,244
Held-to-maturity, gross unrealized losses	(116,282)		(115,767)
Debt securities held-to-maturity	1,109,756		1,110,041
Allowance for Credit Losses	(964)	$ (1,043)	(1,128)	$ (1,293)	$ (1,380)	$ (1,467)
Total, amortized cost	1,714,885		1,727,968
Total, gross unrealized gains	541		1,245
Total, gross unrealized losses	(153,654)		(161,524)
Total, estimated fair value	1,561,772		1,567,689
U.S. government and agency obligations
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	73,026		87,648
Available-for-sale, gross unrealized gains	0		1
Available-for-sale, gross unrealized losses	(7,228)		(7,635)
Available-for-sale, fair value	65,798		80,014
Allowance for Credit Losses	0		0
Corporate debt securities
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	10,077		8,928
Available-for-sale, gross unrealized gains	0		0
Available-for-sale, gross unrealized losses	(1,141)		(756)
Available-for-sale, fair value	8,936		8,172
Allowance for Credit Losses	0		0
Amortized Cost	54,948		56,893
Held-to-maturity, gross unrealized gains	51		380
Held-to-maturity, gross unrealized losses	(5,349)		(3,778)
Debt securities held-to-maturity	49,650		53,495
Allowance for Credit Losses	(907)		(1,059)
Asset-backed securities
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	296,212		296,222
Available-for-sale, gross unrealized gains	0		0
Available-for-sale, gross unrealized losses	(11,375)		(19,349)
Available-for-sale, fair value	284,837		276,873
Allowance for Credit Losses	0		0
Agency commercial
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	110,073		110,606
Available-for-sale, gross unrealized gains	0		0
Available-for-sale, gross unrealized losses	(17,628)		(18,017)
Available-for-sale, fair value	92,445		92,589
Allowance for Credit Losses	0		0
Amortized Cost	32,569		32,127
Held-to-maturity, gross unrealized gains	0		23
Held-to-maturity, gross unrealized losses	(1,794)		(1,189)
Debt securities held-to-maturity	30,775		30,961
Allowance for Credit Losses	0		0
State, municipal, and sovereign debt obligations
Securities Financing Transaction [Line Items]
Amortized Cost	249,515		260,249
Held-to-maturity, gross unrealized gains	90		46
Held-to-maturity, gross unrealized losses	(22,371)		(24,940)
Debt securities held-to-maturity	227,234		235,355
Allowance for Credit Losses	(52)		(60)
Agency residential
Securities Financing Transaction [Line Items]
Amortized Cost	863,179		849,985
Held-to-maturity, gross unrealized gains	400		795
Held-to-maturity, gross unrealized losses	(84,246)		(83,586)
Debt securities held-to-maturity	779,333		767,194
Allowance for Credit Losses	0		0
Non-agency commercial
Securities Financing Transaction [Line Items]
Amortized Cost	25,286		25,310
Held-to-maturity, gross unrealized gains	0		0
Held-to-maturity, gross unrealized losses	(2,522)		(2,274)
Debt securities held-to-maturity	22,764		23,036
Allowance for Credit Losses	(5)		(9)
Total mortgage-backed securities
Securities Financing Transaction [Line Items]
Amortized Cost	921,034		907,422
Held-to-maturity, gross unrealized gains	400		818
Held-to-maturity, gross unrealized losses	(88,562)		(87,049)
Debt securities held-to-maturity	832,872		821,191
Allowance for Credit Losses	$ (5)		$ (9)

Securities - Allowance for Cred

Securities - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Allowance for securities credit losses
Beginning balance	$ (1,043)	$ (1,380)	$ (1,128)	$ (1,467)
Provision for credit loss benefit	79	87	164	174
Total ending allowance balance	$ (964)	$ (1,293)	$ (964)	$ (1,293)

Securities - Credit Quality Ind

Securities - Credit Quality Indicator (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Securities Financing Transaction [Line Items]
Carrying value	$ 329,749
Investment Grade
Securities Financing Transaction [Line Items]
Carrying value	315,209
Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Carrying value	14,540
State, municipal, and sovereign debt obligations
Securities Financing Transaction [Line Items]
Carrying value	249,515
State, municipal, and sovereign debt obligations | Investment Grade
Securities Financing Transaction [Line Items]
Carrying value	249,515
State, municipal, and sovereign debt obligations | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Carrying value	0
Corporate debt securities
Securities Financing Transaction [Line Items]
Carrying value	54,948
Corporate debt securities | Investment Grade
Securities Financing Transaction [Line Items]
Carrying value	40,408
Corporate debt securities | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Carrying value	14,540
Non-agency commercial MBS
Securities Financing Transaction [Line Items]
Carrying value	25,286
Non-agency commercial MBS | Investment Grade
Securities Financing Transaction [Line Items]
Carrying value	25,286
Non-agency commercial MBS | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Carrying value	$ 0

Securities - Additional Informa

Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2013	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities transferred to held-to-maturity securities					$ 12,700,000	$ 536,000,000
Unrealized net loss					$ 209,000	$ 13,300,000
Debt securities, available-for-sale, realized losses	$ 0	$ 21,000	$ 697,000	$ 108,000
Equity investments	96,452,000		96,452,000				$ 102,037,000
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	64,000,000		64,000,000
Fair value	57,600,000		57,600,000
State, municipal, and sovereign debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized cost	82,300,000		82,300,000
Fair value	78,000,000		78,000,000
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	296,200,000		296,200,000
Fair value	$ 284,800,000		$ 284,800,000

Securities - Carrying Value of

Securities - Carrying Value of Held-to-Maturity Investment Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Amortized cost	$ 1,225,497	$ 1,224,564
Allowance for securities credit losses	(964)	(1,128)	$ (1,043)	$ (1,293)	$ (1,380)	$ (1,467)
Net loss on date of transfer from available-for-sale	(13,556)	(13,556)
Accretion of net unrealized loss on securities reclassified as held-to-maturity	11,530	11,258
Carrying value	$ 1,222,507	$ 1,221,138

Securities - Amortized Cost a_2

Securities - Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Amortized Cost
Less than one year	$ 36,231
Due after one year through five years	176,032
Due after five years through ten years	207,267
Due after ten years	264,248
Total amortized cost	683,778
Estimated Fair Value
Less than one year	35,786
Due after one year through five years	160,455
Due after five years through ten years	193,962
Due after ten years	246,252
Total estimated fair value	$ 636,455

Securities - Estimated Fair Val

Securities - Estimated Fair Value and Unrealized Loss for Securities Available-for-Sale and Held-to-Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	$ 8,891	$ 184,141
Available-for-sale, Less than 12 months, Unrealized Losses	(545)	(11,497)
Available-for-sale, 12 months or Longer, Estimated Fair Value	443,125	273,507
Available-for-sale, 12 months or longer, Unrealized Losses	(36,827)	(34,260)
Available-for-sale, Total, Estimated Fair Value	452,016	457,648
Available-for-sale, Total, Unrealized Losses	(37,372)	(45,757)
Held-to-maturity, Less than 12 months, Estimated Fair Value	290,963	485,346
Held-to-maturity, Less than 12 months, Unrealized Losses	(8,410)	(27,725)
Held-to-maturity, 12 months or longer, Estimated Fair Value	754,284	538,583
Held-to-maturity, 12 months or longer, Unrealized Losses	(107,872)	(88,042)
Held-to-maturity, Total, Estimated Fair Value	1,045,247	1,023,929
Held-to-maturity, total, unrealized losses	(116,282)	(115,767)
Total securities, Less than 12 months, Estimated Fair Value	299,854	669,487
Total securities, Less than 12 months, Unrealized Losses	(8,955)	(39,222)
Total securities, 12 months or longer, Estimated Fair Value	1,197,409	812,090
Total securities, 12 months or longer, Unrealized Losses	(144,699)	(122,302)
Total securities, Estimated Fair Value	1,497,263	1,481,577
Total securities, Unrealized Losses	(153,654)	(161,524)
U.S. government and agency obligations | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	2,334	27,232
Available-for-sale, Less than 12 months, Unrealized Losses	(25)	(450)
Available-for-sale, 12 months or Longer, Estimated Fair Value	63,464	52,782
Available-for-sale, 12 months or longer, Unrealized Losses	(7,203)	(7,185)
Available-for-sale, Total, Estimated Fair Value	65,798	80,014
Available-for-sale, Total, Unrealized Losses	(7,228)	(7,635)
Corporate debt securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(5,349)	(3,778)
Corporate debt securities | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	6,557	4,735
Available-for-sale, Less than 12 months, Unrealized Losses	(520)	(193)
Available-for-sale, 12 months or Longer, Estimated Fair Value	2,379	3,437
Available-for-sale, 12 months or longer, Unrealized Losses	(621)	(563)
Available-for-sale, Total, Estimated Fair Value	8,936	8,172
Available-for-sale, Total, Unrealized Losses	(1,141)	(756)
Held-to-maturity, Less than 12 months, Estimated Fair Value	5,532	11,783
Held-to-maturity, Less than 12 months, Unrealized Losses	(576)	(598)
Held-to-maturity, 12 months or longer, Estimated Fair Value	39,686	36,152
Held-to-maturity, 12 months or longer, Unrealized Losses	(4,773)	(3,180)
Held-to-maturity, Total, Estimated Fair Value	45,218	47,935
Held-to-maturity, total, unrealized losses	(5,349)	(3,778)
Asset-backed securities | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	0	143,392
Available-for-sale, Less than 12 months, Unrealized Losses	0	(9,179)
Available-for-sale, 12 months or Longer, Estimated Fair Value	284,837	133,481
Available-for-sale, 12 months or longer, Unrealized Losses	(11,375)	(10,170)
Available-for-sale, Total, Estimated Fair Value	284,837	276,873
Available-for-sale, Total, Unrealized Losses	(11,375)	(19,349)
Mortgage-backed securities:
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	255,879	340,071
Held-to-maturity, Less than 12 months, Unrealized Losses	(7,466)	(15,175)
Held-to-maturity, 12 months or longer, Estimated Fair Value	522,795	405,296
Held-to-maturity, 12 months or longer, Unrealized Losses	(81,096)	(71,874)
Held-to-maturity, Total, Estimated Fair Value	778,674	745,367
Held-to-maturity, total, unrealized losses	(88,562)	(87,049)
Mortgage-backed securities: | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	0	8,782
Available-for-sale, Less than 12 months, Unrealized Losses	0	(1,675)
Available-for-sale, 12 months or Longer, Estimated Fair Value	92,445	83,807
Available-for-sale, 12 months or longer, Unrealized Losses	(17,628)	(16,342)
Available-for-sale, Total, Estimated Fair Value	92,445	92,589
Available-for-sale, Total, Unrealized Losses	(17,628)	(18,017)
Mortgage-backed securities: | Agency residential
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	227,401	297,296
Held-to-maturity, Less than 12 months, Unrealized Losses	(5,715)	(12,404)
Held-to-maturity, 12 months or longer, Estimated Fair Value	498,132	397,036
Held-to-maturity, 12 months or longer, Unrealized Losses	(78,531)	(71,182)
Held-to-maturity, Total, Estimated Fair Value	725,533	694,332
Held-to-maturity, total, unrealized losses	(84,246)	(83,586)
Mortgage-backed securities: | Agency commercial
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	28,478	25,936
Held-to-maturity, Less than 12 months, Unrealized Losses	(1,751)	(1,150)
Held-to-maturity, 12 months or longer, Estimated Fair Value	1,899	2,062
Held-to-maturity, 12 months or longer, Unrealized Losses	(43)	(39)
Held-to-maturity, Total, Estimated Fair Value	30,377	27,998
Held-to-maturity, total, unrealized losses	(1,794)	(1,189)
Mortgage-backed securities: | Non-agency commercial
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	0	16,839
Held-to-maturity, Less than 12 months, Unrealized Losses	0	(1,621)
Held-to-maturity, 12 months or longer, Estimated Fair Value	22,764	6,198
Held-to-maturity, 12 months or longer, Unrealized Losses	(2,522)	(653)
Held-to-maturity, Total, Estimated Fair Value	22,764	23,037
Held-to-maturity, total, unrealized losses	(2,522)	(2,274)
State, municipal, and sovereign debt obligations
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(22,371)	(24,940)
State, municipal, and sovereign debt obligations | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	29,552	133,492
Held-to-maturity, Less than 12 months, Unrealized Losses	(368)	(11,952)
Held-to-maturity, 12 months or longer, Estimated Fair Value	191,803	97,135
Held-to-maturity, 12 months or longer, Unrealized Losses	(22,003)	(12,988)
Held-to-maturity, Total, Estimated Fair Value	221,355	230,627
Held-to-maturity, total, unrealized losses	$ (22,371)	$ (24,940)

Securities - Equity Securities

Securities - Equity Securities Realized Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Net loss on equity investments	$ (559)	$ (8,078)	$ (7,360)	$ (10,864)
Less: Net (losses) gains recognized on equity investments sold	(854)	(231)	(5,462)	1,351
Unrealized gains (losses) recognized on equity investments still held	$ 295	$ (7,847)	$ (1,898)	$ (12,215)

Loans Receivable, Net - Compone

Loans Receivable, Net - Components of Loans Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	$ 10,083,630		$ 9,918,054
Deferred origination costs, net of fees	8,267		7,488
Allowance for loan credit losses	(61,791)	$ (60,195)	(56,824)	$ (52,061)	$ (50,598)	$ (48,850)
Total loans receivable, net	10,030,106		9,868,718
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	6,921,588		6,791,691
Commercial | Commercial real estate – investor
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	5,319,686		5,171,952
Commercial | Commercial Real Estate – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	981,618		997,367
Commercial | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	620,284		622,372
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	3,162,042		3,126,363
Allowance for loan credit losses	(871)	$ (873)	(1,106)	$ (996)	$ (982)	$ (1,268)
Consumer | Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	2,906,556		2,861,991
Consumer | Home equity loans and lines and other consumer (“other consumer”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	$ 255,486		$ 264,372

Loans Receivable, Net - Credit

Loans Receivable, Net - Credit Grades and Risk Characteristics (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	$ 361,276	$ 2,268,186
Year two	2,298,536	2,092,038
Year three	2,043,369	1,070,645
Year four	1,036,916	942,045
Year five	892,775	465,426
Year six and prior	2,390,771	2,131,413
Revolving lines of credit	1,059,987	948,301
Total	10,083,630	9,918,054
Commercial real estate – investor
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	116,385	1,144,763
Year two	1,169,785	1,341,797
Year three	1,307,363	556,129
Year four	538,958	542,415
Year five	522,752	220,999
Year six and prior	1,045,562	912,342
Revolving lines of credit	618,881	453,507
Total	5,319,686	5,171,952
Commercial real estate – investor | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	116,385	1,144,763
Year two	1,169,785	1,339,289
Year three	1,304,903	555,937
Year four	535,020	524,428
Year five	502,580	220,999
Year six and prior	994,662	881,344
Revolving lines of credit	616,235	450,787
Total	5,239,570	5,117,547
Commercial real estate – investor | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	2,508
Year three	2,460	192
Year four	188	17,094
Year five	63	0
Year six and prior	17,502	12,818
Revolving lines of credit	1,388	2,188
Total	21,601	34,800
Commercial real estate – investor | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	0
Year three	0	0
Year four	3,750	893
Year five	20,109	0
Year six and prior	33,398	18,180
Revolving lines of credit	1,258	532
Total	58,515	19,605
Commercial Real Estate – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	51,839	119,912
Year two	117,775	110,440
Year three	110,128	63,702
Year four	66,894	117,422
Year five	110,192	93,769
Year six and prior	512,573	477,190
Revolving lines of credit	12,217	14,932
Total	981,618	997,367
Commercial Real Estate – Owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	51,839	119,912
Year two	117,775	110,440
Year three	110,128	59,952
Year four	66,894	115,385
Year five	108,189	88,204
Year six and prior	488,320	458,708
Revolving lines of credit	12,127	14,932
Total	955,272	967,533
Commercial Real Estate – Owner Occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	748
Year six and prior	4,895	5,679
Revolving lines of credit	0	0
Total	4,895	6,427
Commercial Real Estate – Owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	0
Year three	0	3,750
Year four	0	2,037
Year five	2,003	4,817
Year six and prior	19,358	12,803
Revolving lines of credit	90	0
Total	21,451	23,407
Commercial and  Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	65,775	60,078
Year two	57,240	23,752
Year three	21,536	14,148
Year four	11,276	18,258
Year five	10,741	11,293
Year six and prior	59,416	49,832
Revolving lines of credit	394,300	445,011
Total	620,284	622,372
Commercial and  Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	65,775	60,078
Year two	57,240	23,724
Year three	21,505	14,072
Year four	11,258	17,175
Year five	9,781	10,992
Year six and prior	57,200	47,370
Revolving lines of credit	390,624	443,211
Total	613,383	616,622
Commercial and  Industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	7
Year three	10	0
Year four	0	0
Year five	0	0
Year six and prior	210	250
Revolving lines of credit	2,037	1,680
Total	2,257	1,937
Commercial and  Industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	21
Year three	21	76
Year four	18	1,083
Year five	960	301
Year six and prior	2,006	2,212
Revolving lines of credit	1,639	120
Total	4,644	3,813
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	255,486	264,372
Consumer | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	111,877	919,364
Year two	931,658	591,938
Year three	582,192	421,226
Year four	405,938	248,247
Year five	234,913	100,290
Year six and prior	639,978	580,926
Revolving lines of credit	0	0
Total	2,906,556	2,861,991
Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	15,400	24,069
Year two	22,078	24,111
Year three	22,150	15,440
Year four	13,850	15,703
Year five	14,177	39,075
Year six and prior	133,242	111,123
Revolving lines of credit	34,589	34,851
Total	255,486	264,372
Consumer | Pass | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	111,815	919,364
Year two	931,294	591,745
Year three	582,192	419,712
Year four	405,474	247,387
Year five	234,279	99,945
Year six and prior	637,803	577,392
Revolving lines of credit	0	0
Total	2,902,857	2,855,545
Consumer | Pass | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	15,400	24,069
Year two	22,078	24,111
Year three	22,150	15,440
Year four	13,850	15,471
Year five	14,128	39,057
Year six and prior	131,342	108,818
Revolving lines of credit	34,589	34,851
Total	253,537	261,817
Consumer | Special Mention | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	308	193
Year three	0	1,514
Year four	206	204
Year five	147	59
Year six and prior	1,336	2,407
Revolving lines of credit	0	0
Total	1,997	4,377
Consumer | Special Mention | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	0
Year three	0	0
Year four	0	75
Year five	0	0
Year six and prior	109	598
Revolving lines of credit	0	0
Total	109	673
Consumer | Substandard | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	62	0
Year two	56	0
Year three	0	0
Year four	258	656
Year five	487	286
Year six and prior	839	1,127
Revolving lines of credit	0	0
Total	1,702	2,069
Consumer | Substandard | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Year two	0	0
Year three	0	0
Year four	0	157
Year five	49	18
Year six and prior	1,791	1,707
Revolving lines of credit	0	0
Total	$ 1,840	$ 1,882

Loans Receivable, Net - Allowan

Loans Receivable, Net - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method Excluding PCI Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Allowance for credit losses on loans
Balance at beginning of period	$ 60,195	$ 50,598	$ 56,824	$ 48,850
Provision (benefit) for credit losses	1,719	1,472	5,043	3,128
Charge-offs	(206)	(287)	(216)	(430)
Recoveries	83	278	140	513
Balance at end of period	61,791	52,061	61,791	52,061
Commercial Real Estate – Investor
Allowance for credit losses on loans
Balance at beginning of period	22,451	23,637	21,070	25,504
Provision (benefit) for credit losses	2,029	(1,080)	3,408	(2,947)
Charge-offs	0	0	0	0
Recoveries	1	51	3	51
Balance at end of period	24,481	22,608	24,481	22,608
Commercial Real Estate – Owner Occupied
Allowance for credit losses on loans
Balance at beginning of period	4,116	5,053	4,423	5,884
Provision (benefit) for credit losses	223	(116)	(81)	(956)
Charge-offs	0	(14)	(6)	(18)
Recoveries	3	98	6	111
Balance at end of period	4,342	5,021	4,342	5,021
Commercial and  Industrial
Allowance for credit losses on loans
Balance at beginning of period	5,827	4,649	5,695	5,039
Provision (benefit) for credit losses	239	572	370	166
Charge-offs	(125)	0	(128)	0
Recoveries	4	19	8	35
Balance at end of period	5,945	5,240	5,945	5,240
Residential Real Estate
Allowance for credit losses on loans
Balance at beginning of period	26,928	16,277	24,530	11,155
Provision (benefit) for credit losses	(785)	1,966	1,605	6,994
Charge-offs	0	(56)	0	(56)
Recoveries	9	9	17	103
Balance at end of period	26,152	18,196	26,152	18,196
Other Consumer
Allowance for credit losses on loans
Balance at beginning of period	873	982	1,106	1,268
Provision (benefit) for credit losses	13	130	(259)	(129)
Charge-offs	(81)	(217)	(82)	(356)
Recoveries	66	101	106	213
Balance at end of period	$ 871	$ 996	$ 871	$ 996

Loans Receivable, Net - Additio

Loans Receivable, Net - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitments to lend additional funds to borrowers			$ 14
Number of loans | loan			1
Modified loans		$ 898
Troubled debt restructured loans with accrual interest	$ 7,300	7,300	$ 7,500
Troubled debt restructured loans	13,500	13,500	13,900
Non-accrual loan total troubled debt restructurings		6,200	6,400
Specific reserves to loans accruing troubled debt restructurings	436	436	590
Loans Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructured loans with accrual interest	755	755
Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitments to lend additional funds to borrowers	0	0
Commercial real estate – investor
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	7,300	7,300	4,600
Commercial Real Estate – Owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	565	565	4,000
Commercial and  Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	199	199	160
Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	1,600	1,600	$ 858
Modified loans		658
Financing receivable, excluding accrued interest, subsequent default	$ 143	143
Other Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Modified loans		$ 240

Loans Receivable, Net - Recorde

Loans Receivable, Net - Recorded Investment in Non-Accrual Loans by Loan Portfolio Segment Excluding PCI Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	$ 22,758	$ 23,265
Commercial real estate – investor
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	13,000	10,483
Commercial Real Estate – Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	565	4,025
Commercial and  Industrial
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	199	331
Residential real estate
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	6,174	5,969
Other Consumer
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	$ 2,820	$ 2,457

Loans Receivable, Net - Aging o

Loans Receivable, Net - Aging of Recorded Investment in Past Due Loans Excluding PCI Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 10,083,630	$ 9,918,054
Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	10,675	25,728
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	840	8,095
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,296	6,052
90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	7,539	11,581
Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	10,072,955	9,892,326
Commercial real estate – investor
Financing Receivable, Past Due [Line Items]
Total loans receivable	5,319,686	5,171,952
Commercial real estate – investor | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	3,958	4,792
Commercial real estate – investor | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	217
Commercial real estate – investor | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	875
Commercial real estate – investor | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	3,958	3,700
Commercial real estate – investor | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	5,315,728	5,167,160
Commercial real estate – owner occupied
Financing Receivable, Past Due [Line Items]
Total loans receivable	981,618	997,367
Commercial real estate – owner occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	136	3,973
Commercial real estate – owner occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	95	143
Commercial real estate – owner occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	41	80
Commercial real estate – owner occupied | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	3,750
Commercial real estate – owner occupied | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	981,482	993,394
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Total loans receivable	620,284	622,372
Commercial and industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	195	386
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	7	159
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	149	47
Commercial and industrial | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	39	180
Commercial and industrial | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	620,089	621,986
Residential real estate
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,906,556	2,861,991
Residential real estate | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	3,699	13,449
Residential real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	7,003
Residential real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	1,997	4,377
Residential real estate | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	1,702	2,069
Residential real estate | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,902,857	2,848,542
Other Consumer
Financing Receivable, Past Due [Line Items]
Total loans receivable	255,486	264,372
Other Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,687	3,128
Other Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	738	573
Other Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	109	673
Other Consumer | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	1,840	1,882
Other Consumer | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 252,799	$ 261,244

Loans Receivable, Net - Trouble

Loans Receivable, Net - Troubled Debt Restructurings (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) SecurityLoan
Commercial and  Industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	1
Pre-modification Recorded Investment	$ 65
Post-modification Recorded Investment	$ 65
Other Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | SecurityLoan	3
Pre-modification Recorded Investment	$ 991
Post-modification Recorded Investment	$ 1,109

Deposits - Summary of Major Typ

Deposits - Summary of Major Types of Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
Non-interest-bearing	$ 1,854,136	$ 2,101,308
Interest-bearing checking	3,537,834	3,829,683
Money market deposit	770,440	714,386
Savings	1,229,897	1,487,809
Time deposits	2,766,030	1,542,020
Total deposits	$ 10,158,337	$ 9,675,206

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
Time deposits, $250,000 and over	$ 310.6	$ 117.7
Time deposits also include brokered deposits	$ 1,420	$ 873.4

Borrowed Funds - Summary of Bor

Borrowed Funds - Summary of Borrowed Funds (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
FHLB advances	$ 1,091,666	$ 1,211,166
Securities sold under agreements to repurchase with customers	74,452	69,097
Other borrowings	195,925	195,403
Total borrowed funds	$ 1,362,043	$ 1,475,666

Borrowed Funds - Schedule of Pl

Borrowed Funds - Schedule of Pledged Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Loans	$ 10,030,106	$ 9,868,718
Debt securities	452,016	457,648
Assets	13,538,903	13,103,896
FHLB and FRB
Debt Instrument [Line Items]
Loans	7,147,408	6,487,980
Debt securities	15,037	830,057
Assets	7,162,445	7,318,037
Repurchase agreements
Debt Instrument [Line Items]
Loans	0	0
Debt securities	81,919	105,294
Assets	81,919	105,294
Total pledged assets
Debt Instrument [Line Items]
Loans	7,147,408	6,487,980
Debt securities	96,956	935,351
Assets	$ 7,244,364	$ 7,423,331

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Financial Liabilities Measured at Fair Value (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss)	$ 295,000	$ (7,847,000)	$ (1,898,000)	$ (12,215,000)
Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum range of unobservable inputs			0%		0%
Maximum range of unobservable inputs			8%		8%
Measurement Input, Appraisal Adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum range of unobservable inputs			0%		0%
Maximum range of unobservable inputs			10%		10%
Fair Value Measured at Net Asset Value Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment funds measured at NAV	3,400,000		$ 3,400,000		$ 3,000,000
Items measured on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	452,016,000		452,016,000		457,648,000
Equity investments	49,469,000		49,469,000		61,942,000
Interest rate derivative asset	109,651,000		109,651,000		113,420,000
Interest rate derivative liability	(110,869,000)		(110,869,000)		(113,473,000)
Items measured on a recurring basis | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	0		0		0
Equity investments	0		0		430,000
Interest rate derivative asset	0		0		0
Interest rate derivative liability	0		0		0
Items measured on a recurring basis | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	452,016,000		452,016,000		457,648,000
Equity investments	49,470,000		49,470,000		61,511,000
Interest rate derivative asset	109,651,000		109,651,000		113,420,000
Interest rate derivative liability	(110,869,000)		(110,869,000)		(113,473,000)
Items measured on a recurring basis | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	0		0		0
Equity investments	0		0		0
Interest rate derivative asset	0		0		0
Interest rate derivative liability	0		0		0
Items measured on a non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	46,983,000		46,983,000		40,095,000
Items measured on a non-recurring basis | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	9,613,000		9,613,000		9,635,000
Items measured on a non-recurring basis | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	0		0		0
Items measured on a non-recurring basis | Level 1 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	0		0		0
Items measured on a non-recurring basis | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	0		0		0
Items measured on a non-recurring basis | Level 2 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	0		0		0
Items measured on a non-recurring basis | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	43,576,000		43,576,000		37,076,000
Items measured on a non-recurring basis | Level 3 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	9,613,000		9,613,000		9,635,000
Items measured on a non-recurring basis | Fair Value Measured at Net Asset Value Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	$ 43,600,000		43,600,000		37,100,000
Unrealized gain (loss)			$ 0		$ 20,000,000

Fair Value Measurements - Debt

Fair Value Measurements - Debt Securities Available for Sale Reconciliation (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Debt Securities, Available For Sale, Fair Value [Roll Forward]
Transfers out of Level 3	$ (2,700)
Items measured on a recurring basis | Level 3 Inputs | Investments
Debt Securities, Available For Sale, Fair Value [Roll Forward]
Beginning balance	2,718
Transfers out of Level 3	(2,718)
Ending balance	$ 0

Fair Value Measurements - Book

Fair Value Measurements - Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financial Assets:
Debt securities held-to-maturity	$ 1,109,756	$ 1,110,041
Restricted equity investments	105,305	109,278
Financial Liabilities:
Time deposits	2,766,030	1,542,020
Securities sold under agreements to repurchase with customers	74,452	69,097
Level 1 Inputs
Financial Assets:
Cash and due from banks	457,747	167,946
Debt securities held-to-maturity	0	0
Restricted equity investments	0	0
Loans receivable, net and loans held-for-sale	0	0
Financial Liabilities:
Deposits other than time deposits	0	0
Time deposits	0	0
FHLB advances and other borrowings	0	0
Securities sold under agreements to repurchase with customers	74,452	69,097
Level 2 Inputs
Financial Assets:
Cash and due from banks	0	0
Debt securities held-to-maturity	1,100,929	1,097,984
Restricted equity investments	0	0
Loans receivable, net and loans held-for-sale	0	0
Financial Liabilities:
Deposits other than time deposits	7,392,307	8,133,186
Time deposits	2,731,216	1,504,601
FHLB advances and other borrowings	1,277,187	1,416,384
Securities sold under agreements to repurchase with customers	0	0
Level 3 Inputs
Financial Assets:
Cash and due from banks	0	0
Debt securities held-to-maturity	8,827	12,057
Restricted equity investments	105,305	109,278
Loans receivable, net and loans held-for-sale	8,895,899	9,103,137
Financial Liabilities:
Deposits other than time deposits	0	0
Time deposits	0	0
FHLB advances and other borrowings	0	0
Securities sold under agreements to repurchase with customers	0	0
Book Value
Financial Assets:
Cash and due from banks	457,747	167,946
Debt securities held-to-maturity	1,222,507	1,221,138
Restricted equity investments	105,305	109,278
Loans receivable, net and loans held-for-sale	10,034,306	9,869,408
Financial Liabilities:
Deposits other than time deposits	7,392,307	8,133,186
Time deposits	2,766,030	1,542,020
FHLB advances and other borrowings	1,287,591	1,406,569
Securities sold under agreements to repurchase with customers	$ 74,452	$ 69,097

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Reduction to interest income				$ 1,200
Collateral already posted, fair value	$ 0	$ 40		0
Collateral received from third parties	112,500	104,500		112,500
Credit risk derivative liability, fair value	110,869	$ 113,473		110,869
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative [Line Items]
Floating rate percentage		4%
Interest Rate Swap
Derivative [Line Items]
Income in fair value adjustments	$ 22		$ 0	$ 0	$ 37
Derivative term		3 years

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Accumulated Other Comprehensive Income Attributable to Cash Flow Hedge Derivative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,610,371	$ 1,585,464
Ending balance	1,626,283	1,626,283
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	488	(25)
Unrealized losses recognized in OCI	(1,588)	(1,176)
Losses reclassified from AOCI into interest income	191	292
Ending balance	$ (909)	$ (909)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Notional and Fair Value of Derivatives Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Derivative, notional amount	$ 1,524,747	$ 1,468,245
Credit risk derivative asset, fair value	109,651	113,420
Credit risk derivative liability, fair value	110,869	113,473
Not Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative, notional amount	1,424,747	1,368,245
Credit risk derivative asset, fair value	109,651	113,420
Credit risk derivative liability, fair value	109,670	113,440
Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative, notional amount	100,000	100,000
Credit risk derivative asset, fair value	0	0
Credit risk derivative liability, fair value	$ 1,199	$ 33

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 lease renewalTerm
Leases [Abstract]
Number of finance leases | lease	1
Number of option to renew | renewalTerm	1

Leases - Schedule of Right-of-U

Leases - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Operating lease ROU assets	$ 20,044	$ 19,055
Finance lease ROU asset	1,420	1,532
Total lease ROU assets	$ 21,464	$ 20,587
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Premises and equipment, net	Premises and equipment, net
Lease Liabilities
Operating lease liabilities	$ 21,080	$ 20,053
Finance lease liability	1,811	1,934
Total lease liabilities	$ 22,891	$ 21,987
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Other borrowings	Other borrowings
Future rent and estimated lease termination liability excluded from operating lease liability	$ 6,800	$ 7,700

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease, weighted average remaining lease term (years)	6 years 8 months 4 days	6 years 10 months 13 days
Finance lease, weighted average remaining lease term (years)	6 years 1 month 6 days	6 years 7 months 6 days
Operating lease, weighted average discount rate (percent)	2.86%	2.86%
Finance lease, weighted average discount rate (percent)	5.63%	5.63%

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease Expense
Operating lease expense	$ 1,174	$ 1,440	$ 2,319	$ 2,698
Finance lease expense:
Amortization of ROU assets	54	50	112	99
Interest on lease liabilities	26	26	52	52
Total	1,254	1,516	2,483	2,849
Operating cash flows from operating leases	1,121	1,249	2,260	2,411
Operating cash flows from finance leases	26	26	52	52
Financing cash flows from finance leases	$ 62	$ 51	$ 123	$ 102

Leases - Future Minimum Payment

Leases - Future Minimum Payments for Operating and Financing Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finance Lease
2023	$ 175
2024	350
2025	350
2026	350
2027	350
Thereafter	559
Total	2,134
Less: Imputed interest	(323)
Total lease liabilities	1,811	$ 1,934
Operating Leases
2023	2,311
2024	4,334
2025	4,274
2026	3,648
2027	2,489
Thereafter	6,400
Total	23,456
Less: Imputed interest	(2,376)
Total lease liabilities	$ 21,080	$ 20,053

Variable Interest Entity (Detai

Variable Interest Entity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Other assets	$ 213,432	$ 221,067
Total assets	13,538,903	13,103,896
Other liabilities	364,401	346,155
VIE
Variable Interest Entity [Line Items]
Cash and cash equivalents	37,022	30,062
Other assets	805	941
Total assets	37,827	31,003
Other liabilities	35,706	28,998
Net assets	$ 2,121	$ 2,005