Metropolitan Bank Holding (MCB) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Document And Entity Information (Abstract)
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Entity Registrant Name	Metropolitan Bank Holding Corp.
Entity File Number	001-38282
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-4042724
Entity Address, Address Line One	99 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10016
City Area Code	212
Local Phone Number	659-0600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MCB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,931,697
Entity Central Index Key	0001476034
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 33,143	$ 28,864
Overnight deposits	1,308,738	2,330,486
Total cash and cash equivalents	1,341,881	2,359,350
Investment securities available for sale, at fair value	465,661	566,624
Investment securities held to maturity (estimated fair value of $486.0 million and $380.1 million at June 30, 2022 and December 31, 2021, respectively)	530,740	382,099
Equity investment securities, at fair value	2,107	2,273
Total securities	998,508	950,996
Other investments	17,357	11,998
Loans, net of deferred fees and costs	4,375,165	3,731,929
Allowance for loan losses	(40,534)	(34,729)
Net loans	4,334,631	3,697,200
Receivable from global payments business, net	68,214	39,864
Accrued interest receivable	18,203	15,195
Premises and equipment, net	17,933	15,116
Prepaid expenses and other assets	60,582	16,906
Goodwill	9,733	9,733
Total assets	6,867,042	7,116,358
Deposits
Noninterest-bearing demand deposits	3,470,325	3,668,673
Interest-bearing deposits	2,708,075	2,766,899
Total deposits	6,178,400	6,435,572
Trust preferred securities	20,620	20,620
Subordinated debt, net of issuance cost		24,712
Secured borrowing	32,044	32,461
Accounts payable, accrued expenses and other liabilities	37,774	36,411
Accrued interest payable	367	746
Prepaid third-party debit cardholder balances	23,531	8,847
Total liabilities	6,292,736	6,559,369
Stockholders' equity:
Common stock, $0.01 par value, 25,000,000 shares authorized, 10,931,697 and 10,920,569 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	109	109
Additional paid in capital	385,369	382,999
Retained earnings	223,595	181,385
Accumulated other comprehensive income (loss), net of tax	(34,767)	(7,504)
Total stockholders' equity	574,306	556,989
Total liabilities and stockholders' equity	$ 6,867,042	$ 7,116,358

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Securities held to maturity	$ 486	$ 380.1
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	10,931,697	10,920,569
Common stock, shares outstanding	10,931,697	10,920,569

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest and dividend income
Loans, including fees	$ 52,185	$ 39,234	$ 98,721	$ 76,074
Securities
Taxable	3,655	1,168	6,996	1,904
Tax-exempt	51	52	102	87
Overnight deposits	2,994	442	3,909	786
Other interest and dividends	273	154	400	305
Total interest income	59,158	41,050	110,128	79,156
Interest expense
Deposits	3,706	3,565	7,331	6,736
Trust preferred securities	150	107	258	215
Subordinated debt		405	605	809
Total interest expense	3,856	4,077	8,194	7,760
Net interest income	55,302	36,973	101,934	71,396
Provision for loan losses	2,400	1,875	5,800	2,825
Net interest income after provision for loan losses	52,902	35,098	96,134	68,571
Non-interest income
Non-interest income	7,071	5,543	14,604	10,176
Unrealized gain (loss) on equity securities	(73)	4	(179)	(36)
Gain on sale of securities		609		609
Total non-interest income	6,998	6,156	14,425	10,749
Non-interest expense
Compensation and benefits	13,415	11,211	26,836	22,638
Bank premises and equipment	2,264	2,000	4,380	4,024
Professional fees	1,692	2,003	3,166	3,306
Technology costs	1,144	1,447	2,543	2,374
Licensing fees	2,686	2,067	4,980	4,141
Other expenses	5,068	2,961	8,983	5,528
Total non-interest expense	26,269	21,689	50,888	42,011
Net income before income tax expense	33,631	19,565	59,671	37,309
Income tax expense	10,442	6,229	17,461	11,856
Net income	$ 23,189	$ 13,336	$ 42,210	$ 25,453
Earnings per common share
Basic earnings per common share (in dollars per share)	$ 2.12	$ 1.59	$ 3.86	$ 3.06
Diluted earnings per common share (in dollars per share)	$ 2.07	$ 1.55	$ 3.76	$ 2.98
Service charges on deposit accounts
Non-interest income
Non-interest income	$ 1,474	$ 1,126	$ 2,844	$ 2,098
Revenue, Product and Service [Extensible List]	Service charges on deposit accounts	Service charges on deposit accounts	Service charges on deposit accounts	Service charges on deposit accounts
Global payments revenue
Non-interest income
Non-interest income	$ 5,242	$ 3,851	$ 10,899	$ 7,210
Revenue, Product and Service [Extensible List]	Global payments revenue	Global payments revenue	Global payments revenue	Global payments revenue
Other service charges and fees
Non-interest income
Non-interest income	$ 355	$ 566	$ 861	$ 868
Revenue, Product and Service [Extensible List]	Other service charges and fees	Other service charges and fees	Other service charges and fees	Other service charges and fees

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income	$ 23,189	$ 13,336	$ 42,210	$ 25,453
Other comprehensive income:
Unrealized gain (loss) arising during the period	(18,233)	1,667	(50,428)	(5,267)
Reclassification adjustment for gains included in net income		(609)		(609)
Tax effect	5,601	(348)	15,401	1,865
Net of tax	(12,632)	710	(35,027)	(4,011)
Cash flow hedges:
Unrealized gain (loss) arising during the period	2,420	(562)	11,196	1,715
Tax effect	(743)	180	(3,432)	(549)
Net of tax	1,677	(382)	7,764	1,166
Total other comprehensive income (loss)	(10,955)	328	(27,263)	(2,845)
Comprehensive Income (Loss)	$ 12,234	$ 13,664	$ 14,947	$ 22,608

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Class B Preferred Stock Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI (Loss), Net	Total
Balance at Dec. 31, 2020	$ 3	$ 82	$ 218,899	$ 120,830	$ 973	$ 340,787
Balance (in shares) at Dec. 31, 2020	272,636	8,295,272
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued, net of forfeiture		$ 1				1
Restricted stock issued, net of forfeiture (in shares)		93,091
Employee and non-employee stock-based compensation			2,445			2,445
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting			(2,246)			(2,246)
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting (in shares)		(44,170)
Net Income				25,453		25,453
Other comprehensive income (loss)					(2,845)	(2,845)
Balance at Jun. 30, 2021	$ 3	$ 83	219,098	146,283	(1,872)	363,595
Balance (in shares) at Jun. 30, 2021	272,636	8,344,193
Balance at Mar. 31, 2021	$ 3	$ 83	217,384	132,947	(2,200)	348,217
Balance (in shares) at Mar. 31, 2021	272,636	8,345,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued, net of forfeiture (in shares)		(190)
Employee and non-employee stock-based compensation			1,859			1,859
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting			(145)			(145)
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting (in shares)		(649)
Net Income				13,336		13,336
Other comprehensive income (loss)					328	328
Balance at Jun. 30, 2021	$ 3	$ 83	219,098	146,283	(1,872)	363,595
Balance (in shares) at Jun. 30, 2021	272,636	8,344,193
Balance at Dec. 31, 2021		$ 109	382,999	181,385	(7,504)	556,989
Balance (in shares) at Dec. 31, 2021		10,920,569
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued, net of forfeiture (in shares)		23,487
Employee and non-employee stock-based compensation			3,561			3,561
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting			(1,191)			(1,191)
Redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting (in shares)		(12,359)
Net Income				42,210		42,210
Other comprehensive income (loss)					(27,263)	(27,263)
Balance at Jun. 30, 2022		$ 109	385,369	223,595	(34,767)	574,306
Balance (in shares) at Jun. 30, 2022		10,931,697
Balance at Mar. 31, 2022		$ 109	383,327	200,406	(23,812)	560,030
Balance (in shares) at Mar. 31, 2022		10,931,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee and non-employee stock-based compensation			2,042			2,042
Net Income				23,189		23,189
Other comprehensive income (loss)					(10,955)	(10,955)
Balance at Jun. 30, 2022		$ 109	$ 385,369	$ 223,595	$ (34,767)	$ 574,306
Balance (in shares) at Jun. 30, 2022		10,931,697

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 42,210	$ 25,453
Adjustments to reconcile net income to net cash:
Net depreciation amortization and accretion	2,291	2,383
Provision for loan losses	5,800	2,825
Stock-based compensation	3,561	2,445
Net change in deferred loan fees	3,338	1,070
Deferred income tax (benefit) expense		546
(Gain) loss on sale of securities		(609)
Dividends earned on CRA fund	(13)	(14)
Unrealized (gain) loss on equity securities	179	36
Net change in:
Accrued interest receivable	(3,008)	(1,175)
Accounts payable, accrued expenses and other liabilities	1,363	(31,047)
Third-party debit cardholder balances	14,684	5,371
Accrued interest payable	(379)	1,061
Receivable from global payments, net	(28,350)	(12,832)
Prepaid expenses and other assets	(20,681)	2,743
Net cash provided by (used in) operating activities	20,995	(1,744)
Cash flows from investing activities
Loan originations, purchases and payments, net	(646,569)	(314,362)
Redemptions of other investments	2	5
Purchases of other investments	(5,362)	(397)
Purchase of securities available-for-sale		(382,793)
Purchase of securities held-for-investment	(170,615)
Proceeds from sales and calls of securities available-for-sale		43,241
Proceeds from paydowns and maturities of securities available-for-sale	49,902	55,327
Proceeds from paydowns of securities held-to-maturity	21,643	525
Purchase of premises and equipment, net	(3,973)	(748)
Net cash provided by (used in) investing activities	(754,972)	(599,202)
Cash flows from financing activities
Proceeds from FHLB advances	50	100
Repayments of FHLB advances	(50)	(100)
Redemption of common stock for tax withholdings for restricted stock vesting	(1,191)	(2,246)
Redemption of subordinated debt	(24,712)
Proceeds from (repayments of) secured borrowings, net	(417)	(515)
Net increase (decrease) in deposits	(257,172)	1,458,667
Net cash provided by (used in) financing activities	(283,492)	1,455,906
Increase (decrease) in cash and cash equivalents	(1,017,469)	854,960
Cash and cash equivalents at the beginning of the period	2,359,350	864,305
Cash and cash equivalents at the end of the period	1,341,881	1,719,265
Cash paid for:
Interest	8,573	6,699
Income Taxes	6,805	$ 8,735
Non-cash item:
Transfer of loans held for investment to held for sale	$ 10,000

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2022
ORGANIZATION
ORGANIZATION	N OTE 1 — ORGANIZATION Metropolitan Bank Holding Corp., a New York corporation (the “Company”), is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Company’s primary market is the New York metropolitan area. The Company provides a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals. See the “Glossary of Common Terms and Acronyms” for the definition of certain terms and acronyms used throughout this Form 10-Q. The Company’s primary lending products are CRE loans, C&I loans, and multi-family loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flows from operations of businesses. The Company’s primary deposit products are checking, savings, and term deposit accounts, all of which are insured by the FDIC under the maximum amounts allowed by law. In addition to traditional commercial banking products, the Company offers corporate cash management and retail banking services and, through its Global Payments Group (“global payments business”), provides BaaS to its fintech partners, which includes serving as an issuing bank for third-party managed debit card programs nationwide and providing other financial infrastructure, including cash settlement and custodian deposit services. The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. The Company’s business is affected by state and federal legislation and regulations.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 2 — BASIS OF PRESENTATION The accounting and reporting policies of the Company conform with GAAP and predominant practices within the U.S. banking industry. The Unaudited Consolidated Financial Statements (“unaudited financial statements”) include the accounts of the Company and the Bank. All intercompany balances and transactions have been eliminated. The unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X and predominant practices within the U.S. banking industry. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The unaudited financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim unaudited financial statements in conformity with GAAP, management has made estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods, and actual results could differ from those estimated. Information available which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy, inflation and its related effects and changes in the financial condition of borrowers. Some items in the prior year financial statements may have been reclassified to conform to the current presentation. Reclassification had no effect on prior year net income or stockholders’ equity. The results of operations for the three and six months ended June 30, 2022 and 2021 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year or for any other period. The unaudited financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC.

SUMMARY OF RECENT ACCOUNTING PR

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2022
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 — SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS Pursuant to the JOBS Act, an EGC is provided the option to adopt new or revised accounting standards that may be issued by the FASB or the SEC either (i) within the same periods as those otherwise applicable to non-EGCs or (ii) within the same time periods as private companies. The Company elected to utilize delayed effective dates of recently issued accounting standards. As permitted by the JOBS Act, so long as it qualifies as an EGC, the Company will take advantage of certain of the reduced regulatory and reporting requirements that are available to it, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation, and exemptions from the requirements of holding non-binding advisory votes on executive compensation and golden parachute payments. The Company will lose its EGC status on December 31, 2022, since that would be the last day of the fiscal year of the Company following the fifth anniversary of the date of the first sale of common equity securities of the Company pursuant to an effective registration statement under the Securities Act of 1933. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires companies that lease assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated statement of financial condition, which will increase the Company’s assets and liabilities. The Company is required to implement ASU 2016-02 by December 31, 2022 and is currently evaluating the potential impact on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), which requires that the measurement of all expected credit losses for financial assets held at amortized cost be based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 requires that financial institutions and other organizations will use forward-looking information to better inform their credit loss estimates. This guidance also amends the accounting for credit losses on AFS debt securities and purchased financial assets with credit deterioration. In October 2019, the FASB approved a delay for the implementation of ASU 2016-13. Accordingly, the Company is required to implement ASU 2016-13 by January 1, 2023. Management has established a committee to evaluate the impact of ASU 2016-13 on the Company’s financial statements. The Company expects to recognize a one-time cumulative adjustment to the allowance for loan losses as of the beginning of the reporting period in which ASU 2016-13 takes effect. The Company is currently analyzing certain aspects of the CECL models, inputting data into the models, and evaluating the potential impact on the Company’s ALLL. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test, which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard was effective for the Company beginning January 1, 2021, and did not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this ASU clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Management has established a working group that is in the process of evaluating the impact of the transition from LIBOR on the Company and its consolidated financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments -

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 2022
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 4 — INVESTMENT SECURITIES The following tables summarize the amortized cost and fair value of debt securities AFS and HTM and equity investments and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At June 30, 2022 Cost Gains Losses Fair Value Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 67,995 ​ $ — ​ $ (6,416) ​ $ 61,579 U.S. State and Municipal securities ​ ​ 11,724 ​ ​ — ​ ​ (2,058) ​ ​ 9,666 Residential MBS ​ ​ 427,596 ​ ​ — ​ ​ (52,275) ​ ​ 375,321 Commercial MBS ​ ​ 16,434 ​ ​ — ​ ​ (1,450) ​ ​ 14,984 Asset-backed securities ​ ​ 4,324 ​ ​ — ​ ​ (213) ​ ​ 4,111 Total securities available-for-sale ​ $ 528,073 ​ $ — ​ $ (62,412) ​ $ 465,661 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 29,832 ​ $ — ​ $ (1,652) ​ $ 28,180 U.S. State and Municipal securities ​ ​ 15,936 ​ ​ — ​ ​ (2,598) ​ ​ 13,338 Residential MBS ​ ​ 476,851 ​ ​ 71 ​ ​ (39,662) ​ ​ 437,260 Commercial MBS ​ ​ 8,121 ​ ​ — ​ ​ (911) ​ ​ 7,210 Total securities held-to-maturity ​ $ 530,740 ​ $ 71 ​ $ (44,823) ​ $ 485,988 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,339 ​ $ — ​ $ (232) ​ $ 2,107 Total equity investment securities ​ $ 2,339 ​ $ — ​ $ (232) ​ $ 2,107 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At December 31, 2021 Cost Gains Losses Fair Value Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 67,994 ​ $ — ​ $ (1,660) ​ $ 66,334 U.S. State and Municipal securities ​ ​ 11,799 ​ ​ — ​ ​ (300) ​ ​ 11,499 Residential MBS ​ ​ 476,393 ​ ​ 623 ​ ​ (10,465) ​ ​ 466,551 Commercial MBS ​ ​ 17,787 ​ ​ 219 ​ ​ (379) ​ ​ 17,627 Asset-backed securities ​ ​ 4,635 ​ ​ — ​ ​ (22) ​ ​ 4,613 Total securities available-for-sale ​ $ 578,608 ​ $ 842 ​ $ (12,826) ​ $ 566,624 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 29,811 ​ $ 6 ​ $ (43) ​ $ 29,774 U.S. State and Municipal securities ​ ​ 16,055 ​ ​ 299 ​ ​ — ​ ​ 16,354 Residential MBS ​ ​ 328,095 ​ ​ 105 ​ ​ (2,259) ​ ​ 325,941 Commercial MBS ​ ​ 8,138 ​ ​ — ​ ​ (99) ​ ​ 8,039 Total securities held-to-maturity ​ $ 382,099 ​ $ 410 ​ $ (2,401) ​ $ 380,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,326 ​ $ — ​ $ (53) ​ $ 2,273 Total equity investment securities ​ $ 2,326 ​ $ — ​ $ (53) ​ $ 2,273 ​ The following table summarizes the proceeds from sales and calls of AFS securities and the associated gains (losses) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 2022 2021 Proceeds ​ $ — ​ $ 43,241 ​ $ — ​ $ 43,241 Gross gains ​ $ — ​ $ 609 ​ $ — ​ $ 609 Tax impact ​ $ — ​ $ (195) ​ $ — ​ $ (195) ​ The tables below summarize, by contractual maturity, the amortized cost and fair value of debt securities. The tables do not include the effect of principal repayments or scheduled principal amortization. Equity securities, primarily investments in mutual funds, have been excluded from the table. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At June 30, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year ​ $ — ​ $ — ​ $ — ​ $ — After 1 year through 5 years ​ ​ 29,832 ​ ​ 28,179 ​ ​ 49,534 ​ ​ 45,709 After 5 years through 10 years ​ ​ 9,686 ​ ​ 8,726 ​ ​ 32,880 ​ ​ 30,088 After 10 years ​ ​ 491,222 ​ ​ 449,083 ​ ​ 445,659 ​ ​ 389,864 Total Securities ​ $ 530,740 ​ $ 485,988 ​ $ 528,073 ​ $ 465,661 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year ​ $ — ​ $ — ​ $ — ​ $ — After 1 year through 5 years ​ ​ 29,811 ​ ​ 29,774 ​ ​ 48,515 ​ ​ 47,370 After 5 years through 10 years ​ ​ 9,973 ​ ​ 9,912 ​ ​ 36,242 ​ ​ 36,024 After 10 years ​ ​ 342,315 ​ ​ 340,422 ​ ​ 493,851 ​ ​ 483,230 Total Securities ​ $ 382,099 ​ $ 380,108 ​ $ 578,608 ​ $ 566,624 ​ There were no securities pledged as collateral at June 30, 2022 or December 31, 2021. At June 30, 2022 and December 31, 2021, all of the residential MBS and commercial MBS held by the Company were issued by U.S. Government-sponsored entities and agencies. Debt securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized At June 30, 2022 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ — ​ $ — ​ $ 61,579 ​ $ (6,416) ​ $ 61,579 ​ $ (6,416) U.S. State and Municipal securities ​ ​ 5,871 ​ ​ (1,016) ​ ​ 3,795 ​ ​ (1,042) ​ ​ 9,666 ​ ​ (2,058) Residential MBS ​ ​ 244,366 ​ ​ (30,483) ​ ​ 130,955 ​ ​ (21,792) ​ ​ 375,321 ​ ​ (52,275) Commercial MBS ​ ​ 2,639 ​ ​ (26) ​ ​ 12,345 ​ ​ (1,424) ​ ​ 14,984 ​ ​ (1,450) Asset-backed securities ​ ​ 4,111 ​ ​ (213) ​ ​ — ​ ​ — ​ ​ 4,111 ​ ​ (213) Total securities available-for-sale ​ $ 256,987 ​ $ (31,738) ​ $ 208,674 ​ $ (30,674) ​ $ 465,661 ​ $ (62,412) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 28,180 ​ $ (1,652) ​ $ — ​ $ — ​ $ 28,180 ​ $ (1,652) U.S. State and Municipal securities ​ ​ 13,338 ​ ​ (2,598) ​ ​ — ​ ​ — ​ ​ 13,338 ​ ​ (2,598) Residential MBS ​ ​ 409,189 ​ ​ (39,662) ​ ​ — ​ ​ — ​ ​ 409,189 ​ ​ (39,662) Commercial MBS ​ ​ 7,210 ​ ​ (911) ​ ​ — ​ ​ — ​ ​ 7,210 ​ ​ (911) Asset-backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total securities held-to-maturity ​ $ 457,917 ​ $ (44,823) ​ $ — ​ $ — ​ $ 457,917 ​ $ (44,823) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized At December 31, 2021 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 29,267 ​ $ (730) ​ $ 37,067 ​ $ (930) ​ $ 66,334 ​ $ (1,660) U.S. State and Municipal securities ​ ​ 8,372 ​ ​ (300) ​ ​ — ​ ​ — ​ ​ 8,372 ​ ​ (300) Residential MBS ​ ​ 423,686 ​ ​ (9,727) ​ ​ 12,931 ​ ​ (738) ​ ​ 436,617 ​ ​ (10,465) Commercial MBS ​ ​ 11,202 ​ ​ (296) ​ ​ 3,511 ​ ​ (83) ​ ​ 14,713 ​ ​ (379) Asset-backed securities ​ ​ 4,613 ​ ​ (22) ​ ​ — ​ ​ — ​ ​ 4,613 ​ ​ (22) Total securities available-for-sale ​ $ 477,140 ​ $ (11,075) ​ $ 53,509 ​ $ (1,751) ​ $ 530,649 ​ $ (12,826) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 9,697 ​ $ (43) ​ $ — ​ $ — ​ $ 9,697 ​ $ (43) Residential MBS ​ ​ 301,896 ​ ​ (2,259) ​ ​ — ​ ​ — ​ ​ 301,896 ​ ​ (2,259) Commercial MBS ​ ​ 8,039 ​ ​ (99) ​ ​ — ​ ​ — ​ ​ 8,039 ​ ​ (99) Total securities held-to-maturity ​ $ 319,632 ​ $ (2,401) ​ $ — ​ $ — ​ $ 319,632 ​ $ (2,401) ​ The unrealized losses on securities are primarily due to the changes in market interest rates subsequent to purchase. The Company did not consider these securities to have OTTI at June 30, 2022 or December 31, 2021 since the decline in market value was attributable to changes in interest rates and not to changes in credit quality. In addition, the Company does not intend to sell and does not believe that it is more likely than not that it will be required to sell these investments until there is a full recovery of the unrealized loss, which may be at maturity. As a result, no impairment loss was recognized during the six months ended June 30, 2022 or for the year ended December 31, 2021. At June 30, 2022 and December 31, 2021, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2022
LOANS AND ALLOWANCE FOR LOAN LOSSES
LOANS AND ALLOWANCE FOR LOAN LOSSES	NOTE 5 — LOANS AND ALLOWANCE FOR LOAN LOSSES Loans, net of deferred costs and fees, consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 ​ 2021 Real estate ​ ​ ​ ​ ​ ​ Commercial ​ $ 2,922,190 ​ $ 2,488,382 Construction ​ ​ 185,661 ​ ​ 151,791 Multi-family ​ ​ 418,726 ​ ​ 355,290 One-to-four family ​ ​ 51,190 ​ ​ 57,163 Total real estate loans ​ ​ 3,577,767 ​ ​ 3,052,626 Commercial and industrial ​ ​ 780,677 ​ ​ 654,535 Consumer ​ ​ 27,657 ​ ​ 32,366 Total loans ​ ​ 4,386,101 ​ ​ 3,739,527 Deferred fees, net of origination costs ​ ​ (10,936) ​ ​ (7,598) Loans, net of deferred fees and costs ​ ​ 4,375,165 ​ ​ 3,731,929 Allowance for loan losses ​ ​ (40,534) ​ ​ (34,729) Net loans ​ $ 4,334,631 ​ $ 3,697,200 ​ Included in C&I loans at June 30, 2022 and December 31, 2021 were $125,000 and $561,000, respectively, of PPP loans. Also included in C&I loans at June 30, 2022 and December 31, 2021 were $10.0 million and $4.1 million, respectively, of loans held for sale, measured at the lower of cost or fair value. ​ The following tables present the activity in the ALLL by segment. The portfolio segments represent the categories that the Company uses to determine its ALLL (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended June 30, 2022 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 24,720 ​ $ 8,488 ​ $ 2,329 ​ $ 2,256 ​ $ 104 ​ $ 237 ​ $ 38,134 Provision/(credit) for loan losses ​ ​ 1,225 ​ ​ 656 ​ ​ 258 ​ ​ 283 ​ ​ (2) ​ ​ (20) ​ ​ 2,400 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 18,341 ​ $ 10,827 ​ $ 1,707 ​ $ 2,732 ​ $ 178 ​ $ 1,717 ​ $ 35,502 Provision/(credit) for loan losses ​ ​ 1,958 ​ ​ (282) ​ ​ 265 ​ ​ (114) ​ ​ (9) ​ ​ 57 ​ ​ 1,875 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ Six months ended June 30, 2022 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 22,216 ​ $ 7,708 ​ $ 2,105 ​ $ 2,156 ​ $ 140 ​ $ 404 ​ $ 34,729 Provision (credit) for loan losses ​ ​ 3,729 ​ ​ 1,436 ​ ​ 482 ​ ​ 383 ​ ​ (38) ​ ​ (192) ​ ​ 5,800 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5 ​ ​ 5 Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Provision (credit) for loan losses ​ ​ 3,056 ​ ​ (723) ​ ​ 379 ​ ​ (43) ​ ​ (37) ​ ​ 193 ​ ​ 2,825 Loans charged-off ​ ​ — ​ ​ (855) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (855) Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377 ​ There were no charge-offs and recoveries for the three months ended June 30, 2022 and 2021. Net recoveries for the six months ended June 30, 2022 were $5,000. Net charge-offs for the six months ended June 30, 2021 were $855,000. The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ At June 30, 2022 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 24 ​ $ 24 Collectively evaluated for impairment ​ ​ 25,945 ​ ​ 9,144 ​ ​ 2,587 ​ ​ 2,539 ​ ​ 102 ​ ​ 193 ​ ​ 40,510 Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 28,549 ​ $ — ​ $ — ​ $ — ​ $ 921 ​ $ 24 ​ $ 29,494 Collectively evaluated for impairment ​ ​ 2,893,641 ​ ​ 780,677 ​ ​ 185,661 ​ ​ 418,726 ​ ​ 50,269 ​ ​ 27,633 ​ ​ 4,356,607 Total ending loan balance ​ $ 2,922,190 ​ $ 780,677 ​ $ 185,661 ​ $ 418,726 ​ $ 51,190 ​ $ 27,657 ​ $ 4,386,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ At December 31, 2021 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 26 ​ $ 170 ​ $ 196 Collectively evaluated for impairment ​ ​ 22,216 ​ ​ 7,708 ​ ​ 2,105 ​ ​ 2,156 ​ ​ 114 ​ ​ 234 ​ ​ 34,533 Total ending allowance balance ​ $ 22,216 ​ $ 7,708 ​ $ 2,105 ​ $ 2,156 ​ $ 140 ​ $ 404 ​ $ 34,729 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 38,518 ​ $ — ​ $ — ​ $ — ​ $ 946 ​ $ 302 ​ $ 39,766 Collectively evaluated for impairment ​ ​ 2,449,864 ​ ​ 654,535 ​ ​ 151,791 ​ ​ 355,290 ​ ​ 56,217 ​ ​ 32,064 ​ ​ 3,699,761 Total ending loan balance ​ $ 2,488,382 ​ $ 654,535 ​ $ 151,791 ​ $ 355,290 ​ $ 57,163 ​ $ 32,366 ​ $ 3,739,527 ​ The following tables present loans individually evaluated for impairment recognized (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ Unpaid ​ ​ ​ for Loan ​ ​ ​ Principal ​ Recorded ​ Losses ​ At June 30, 2022 Balance Investment Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ $ 24 ​ $ 24 ​ $ 24 ​ Total ​ $ 24 ​ $ 24 ​ $ 24 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 1,197 ​ $ 921 ​ $ — ​ CRE ​ ​ 28,550 ​ ​ 28,549 ​ ​ — ​ Total ​ $ 29,747 ​ $ 29,470 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ Unpaid ​ ​ ​ for Loan ​ ​ ​ Principal ​ Recorded ​ Losses ​ At December 31, 2021 Balance Investment Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 577 ​ $ 447 ​ $ 26 ​ Consumer ​ ​ 302 ​ ​ 302 ​ ​ 170 ​ Total ​ $ 879 ​ $ 749 ​ $ 196 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 646 ​ $ 499 ​ $ — ​ CRE ​ ​ 38,518 ​ ​ 38,518 ​ ​ — ​ Total ​ $ 39,164 ​ $ 39,017 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Interest ​ ​ Recorded ​ Income Three months ended June 30, 2022 ​ Investment ​ Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ Consumer ​ $ 24 ​ $ — Total ​ $ 24 ​ $ — ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 927 ​ $ 9 CRE ​ ​ 28,514 ​ ​ 266 Total ​ $ 29,441 ​ $ 275 ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ​ ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 465 ​ $ 4 Consumer ​ ​ 2,140 ​ ​ 29 C&I ​ ​ 3,145 ​ ​ — Total ​ $ 5,750 ​ $ 33 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 511 ​ $ 7 CRE ​ ​ 10,339 ​ ​ 37 C&I ​ ​ 192 ​ ​ — Total ​ $ 11,042 ​ $ 44 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Interest ​ ​ Recorded ​ Income Six months ended June 30, 2022 ​ Investment ​ Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ Consumer ​ $ 117 ​ $ — Total ​ $ 117 ​ $ — ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 784 ​ $ 18 CRE ​ ​ 31,849 ​ ​ 496 Total ​ $ 32,633 ​ $ 514 ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ​ ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 470 ​ $ 12 Consumer ​ ​ 2,159 ​ ​ 58 C&I ​ ​ 3,494 ​ ​ — Total ​ $ 6,123 ​ $ 70 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 514 ​ $ 13 CRE ​ ​ 10,341 ​ ​ 204 C&I ​ ​ 128 ​ ​ — Total ​ $ 10,983 ​ $ 217 ​ The recorded investment in loans excludes accrued interest receivable and loan origination fees. For a loan to be considered impaired, management determines whether it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management applies its normal loan review procedures in making these judgments. Impaired loans include individually classified non-accrual loans and TDRs. Impairment is determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based on recent appraised values. The fair value of the collateral or present value of expected cash flows is compared to the carrying value to determine if any write-down or specific loan loss allowance allocation is required. For discussion on modification of loans to borrowers impacted by COVID-19, refer to the “COVID-19 Loan Modifications” section herein. The following tables present the recorded investment in non-accrual loans and loans past due over 90 days and still accruing, by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due ​ ​ ​ ​ ​ Over 90 Days At June 30, 2022 Nonaccrual ​ Still Accruing Consumer ​ $ 24 ​ $ — Total ​ $ 24 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due ​ ​ ​ ​ ​ Over 90 Days At December 31, 2021 ​ ​ Nonaccrual ​ Still Accruing Commercial real estate ​ $ 9,984 ​ $ — Consumer ​ ​ 37 ​ ​ 265 Total ​ $ 10,021 ​ $ 265 ​ ​ Interest income that would have been recorded for the three and six months ended June 30, 2022 and 2021 had non-accrual loans been current according to their original terms was immaterial. The following tables present the aging of the recorded investment in past due loans by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At June 30, 2022 Days Days greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,922,190 ​ $ 2,922,190 Commercial & industrial ​ ​ 95 ​ ​ — ​ ​ — ​ ​ 95 ​ ​ 780,582 ​ ​ 780,677 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 185,661 ​ ​ 185,661 Multi-family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 418,726 ​ ​ 418,726 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 51,190 ​ ​ 51,190 Consumer ​ ​ 48 ​ ​ 15 ​ ​ 24 ​ ​ 87 ​ ​ 27,570 ​ ​ 27,657 Total ​ $ 143 ​ $ 15 ​ $ 24 ​ $ 182 ​ $ 4,385,919 ​ $ 4,386,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At December 31, 2021 Days Days greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ 9,984 ​ $ 9,984 ​ $ 2,478,398 ​ $ 2,488,382 Commercial & industrial ​ ​ 151 ​ ​ — ​ ​ — ​ ​ 151 ​ ​ 654,384 ​ ​ 654,535 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 151,791 ​ ​ 151,791 Multi-family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 355,290 ​ ​ 355,290 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 57,163 ​ ​ 57,163 Consumer ​ ​ 93 ​ ​ 94 ​ ​ 302 ​ ​ 489 ​ ​ 31,877 ​ ​ 32,366 Total ​ $ 244 ​ $ 94 ​ $ 10,286 ​ $ 10,624 ​ $ 3,728,903 ​ $ 3,739,527 ​ Troubled Debt Restructurings Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered TDRs and classified as impaired. Included in impaired loans at both June 30, 2022 and December 31, 2021 were $1.3 million of loans modified as TDRs. There were no loans modified as a TDR during the three and six months ended June 30, 2022 and 2021. As of June 30, 2022, the Company has not committed to lend additional amounts to customers with outstanding loans that are classified as TDRs. During the three and six months ended June 30, 2022 and 2021, there were no payment defaults on any loans previously identified as TDRs. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed pursuant to the Company’s internal underwriting policy. The following tables present the recorded investment in TDRs by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2022 ​ 2021 Commercial real estate ​ $ 334 ​ $ 342 One-to-four family ​ ​ 921 ​ ​ 946 Total ​ $ 1,255 ​ $ 1,288 ​ All TDRs at June 30, 2022 and December 31, 2021 were performing in accordance with their restructured terms. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Except for one-to-four family loans and consumer loans, the Company analyzes loans individually by classifying the loans as to credit risk at least annually. For one-to-four family loans and consumer loans, the Company evaluates credit quality based on the aging status of the loan, which was previously presented. An analysis is performed on a quarterly basis for loans classified as special mention, substandard or doubtful. The Company uses the following definitions for risk ratings: Special Mention - Substandard - jeopardize 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 not meeting the criteria above are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, 2022 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,893,641 ​ $ 334 ​ $ 28,215 ​ $ — ​ $ 2,922,190 Commercial & industrial ​ ​ 776,790 ​ ​ 3,887 ​ ​ — ​ ​ — ​ ​ 780,677 Construction ​ ​ 185,661 ​ ​ — ​ ​ — ​ ​ — ​ ​ 185,661 Multi-family ​ ​ 418,726 ​ ​ — ​ ​ — ​ ​ — ​ ​ 418,726 Total ​ $ 4,274,818 ​ $ 4,221 ​ $ 28,215 ​ $ — ​ $ 4,307,254 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,449,864 ​ $ 342 ​ $ 38,176 ​ $ — ​ $ 2,488,382 Commercial & industrial ​ ​ 646,251 ​ ​ 4,177 ​ ​ 4,107 ​ ​ — ​ ​ 654,535 Construction ​ ​ 151,791 ​ ​ — ​ ​ — ​ ​ — ​ ​ 151,791 Multi-family ​ ​ 355,290 ​ ​ — ​ ​ — ​ ​ — ​ ​ 355,290 Total ​ $ 3,603,196 ​ $ 4,519 ​ $ 42,283 ​ $ — ​ $ 3,649,998 ​ COVID-19 Loan Modifications As of June 30, 2022, the Company had six loans amounting to $47.0 million, or 1.07% of total loans, that were modified in accordance with the COVID-19 Guidance and the CARES Act. As of June 30, 2022, principal payment deferrals were $47.1 million, or 1.07% of total loans, while none were full payment deferrals. As of December 31, 2021, the Company had eight loans amounting to $48.9 million, or 1.31% of total loans, that were modified in accordance with the COVID-19 Guidance and the CARES Act. As of December 31, 2021, principal payment deferrals were $39.1 million, or 1.05% of total loans, while full payment deferrals were $9.9 million, or 0.26% of total loans.

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2022
BORROWINGS
BORROWINGS	NOTE 6 — BORROWINGS During the first quarter of 2022, the Company redeemed $25.0 million of subordinated debt, plus accrued interest. The subordinated notes had a maturity date of March 15, 2027 and an interest rate of 6.25% per annum.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2022
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 7 — STOCKHOLDERS’ EQUITY The Company has 2,000,000 authorized shares of Class B preferred stock, $0.01 par value. At June 30, 2022, none of the preferred shares are issued. During the fourth quarter of 2021, the holder of 272,636 shares of Series F, Class B non-voting preferred stock exchanged the preferred shares for shares of the Company’s common stock. During the third quarter of 2021, the Company raised $172.5 million of capital through the issuance of 2.3 million shares of its common stock at a price of $75 per share, resulting in net proceeds of $162.7 million. The offering increased the Company’s shares of common stock outstanding from 8.3 million shares to 10.6 million shares.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 8 — EARNINGS PER SHARE The Company uses the two-class method in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share calculation are as follows (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 2022 2021 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per consolidated statements of income ​ $ 23,189 ​ $ 13,336 ​ $ 42,210 ​ $ 25,453 Less: Earnings allocated to participating securities ​ ​ (63) ​ ​ (84) ​ ​ (85) ​ ​ (106) Net income available to common stockholders ​ $ 23,126 ​ $ 13,252 ​ $ 42,125 ​ $ 25,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 10,961,697 ​ ​ 8,343,946 ​ ​ 10,947,829 ​ ​ 8,329,003 Less: Weighted average participating securities ​ ​ (30,000) ​ ​ (31,712) ​ ​ (22,111) ​ ​ (34,599) Weighted average common shares outstanding ​ ​ 10,931,697 ​ ​ 8,312,234 ​ ​ 10,925,718 ​ ​ 8,294,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 2.12 ​ $ 1.59 ​ $ 3.86 ​ $ 3.06 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income allocated to common stockholders ​ $ 23,126 ​ $ 13,252 ​ $ 42,125 ​ $ 25,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding for basic earnings per common share ​ ​ 10,931,697 ​ ​ 8,312,234 ​ ​ 10,925,718 ​ ​ 8,294,404 Add: Dilutive effects of assumed exercise of stock options ​ ​ 180,787 ​ ​ 162,674 ​ ​ 186,364 ​ ​ 153,545 Add: Dilutive effects of assumed vesting of performance based restricted stock ​ ​ 52,004 ​ ​ 38,495 ​ ​ 63,980 ​ ​ 31,613 Add: Dilutive effects of assumed vesting of restricted stock units ​ ​ 25,319 ​ ​ 30,071 ​ ​ 32,930 ​ ​ 17,383 Average shares and dilutive potential common shares ​ ​ 11,189,807 ​ ​ 8,543,474 ​ ​ 11,208,992 ​ ​ 8,496,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive earnings per common share ​ $ 2.07 ​ $ 1.55 ​ $ 3.76 ​ $ 2.98 ​ All stock options and performance based restricted stock units were considered in computing diluted earnings per common share for the three and six months ended June 30, 2022 and 2021. For the three and six months ended June 30, 2022 and 2021, 234,332 and 105,424 restricted stock units were not considered in the calculation of diluted earnings per share as their inclusion would be anti-dilutive. ​

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN	6 Months Ended
	Jun. 30, 2022
STOCK COMPENSATION PLAN
STOCK COMPENSATION PLAN	NOTE 9 — STOCK COMPENSATION PLAN Equity Incentive Plan At June 30, 2022, the Company maintained three stock compensation plans, the 2022 Equity Incentive Plan (the “2022 EIP”), the 2019 Equity Incentive Plan (the “2019 EIP”) and the 2009 Equity Incentive Plan (the “2009 EIP”). The 2019 EIP expired on May 31, 2022 but has outstanding restricted stock awards and PRSUs subject to vesting schedules. The 2009 EIP has also expired but has outstanding stock options that may still be exercised. The 2022 EIP was approved on May 31, 2022 by stockholders of the Company. Under the 2022 EIP, the maximum number of shares of stock that may be delivered to participants in the form of restricted stock, restricted stock units and stock options, including ISOs and non-qualified stock options, is 358,000, subject to adjustment as set forth in the 2022 EIP, plus any awards that are forfeited under the 2019 EIP after March 15, 2022. Stock Options Under the terms of the 2022 EIP, a stock option cannot have an exercise price that is less than 100% of the fair market value of the shares covered by the stock option on the date of grant. In the case of an ISO granted to a 10% stockholder, the exercise price shall not be less than 110% of the fair market value of the shares covered by the stock option on the date of grant. In no event shall the exercise period exceed ten years from the date of grant of the option, except, in the case of an ISO granted to a 10% stockholder, the exercise period shall not exceed five years from the date of grant. The 2022 EIP contains a double trigger change in control feature, providing for an acceleration of vesting upon an involuntary termination of employment simultaneous with or following a change in control. The fair value of each stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities based on historical volatilities of the Company’s common stock are not significant. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. ​ A summary of the status of the Company’s stock options and the changes during the year is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, 2022 ​ ​ ​ ​ Weighted ​ Number of Average ​ ​ Options ​ Exercise Price ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 231,000 ​ $ 18.00 Granted ​ — ​ ​ — Exercised ​ — ​ ​ — Cancelled/forfeited ​ — ​ ​ — Outstanding, end of period ​ 231,000 ​ $ 18.00 Options vested and exercisable at end of period ​ 231,000 ​ $ 18.00 ​ ​ ​ ​ ​ ​ Weighted average remaining contractual life (years) ​ ​ ​ ​ 1.88 ​ There was no unrecognized compensation cost related to stock options at June 30, 2022 or December 31, 2021. There was no compensation cost related to stock options during the six months ended June 30, 2022 or 2021. The following table summarizes information about stock options outstanding at June 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Average ​ Weighted ​ Weighted Range of Average ​ Outstanding at ​ Remaining ​ Average ​ Average Exercise Prices June 30, 2022 Contractual Life Exercise Price ​ Intrinsic Value $10 – 30 ​ 231,000 ​ 1.88 ​ $ 18.00 ​ $ 83.77 ​ Restricted Stock Awards and Restricted Stock Units The Company issued restricted stock awards and restricted stock units under the 2019 EIP and the 2009 EIP (collectively, “restricted stock grants”) to certain key personnel. Each restricted stock grant vests based on the vesting schedule outlined in the restricted stock grant agreement. Restricted stock grants are subject to forfeiture if the holder is not employed by the Company on the vesting date. In the first quarter of 2022 and 2021, 83,151 and 78,582 restricted stock grants were issued to certain key personnel, respectively. One-third of these shares vest each year for three years beginning on March 1, 2023 and March 1, 2022, respectively. Total compensation cost that has been charged against income for restricted stock grants was $1.3 million and $811,000 for the three months ended June 30, 2022 and 2021, respectively. Total compensation cost that has been charged against income for restricted stock grants was $2.0 million and $1.3 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was $8.6 million of total unrecognized compensation expense related to the restricted stock awards. The cost is expected to be recognized over a weighted-average period of 2.44 years. In January 2022, 11,126 restricted shares were granted to members of the Board of Directors. These shares vest in January 2023. In January 2019, 38,900 restricted shares were granted to members of the Board of Directors in lieu of retainer fees for three years of service. Total expense for these awards was $297,000 and $90,000 for the three months ended June 30, 2022 and 2021, respectively. Total expense for these awards was $595,000 and $200,000 for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 total unrecognized expense for these awards was $595,000. The following table summarizes the changes in the Company’s restricted stock grants: ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, 2022 ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ Shares Fair Value Outstanding, beginning of period ​ 90,999 ​ $ 47.35 Granted ​ 83,151 ​ ​ 102.49 Forfeited ​ (200) ​ ​ 80.34 Vested ​ (29,818) ​ ​ 44.47 Outstanding at end of period ​ 144,132 ​ $ 79.70 ​ Performance-Based Stock Units During the second quarter of 2021, the Company established a long-term incentive award program under the 2019 EIP. Under the program, 90,000 PRSUs were awarded. During the second quarter of 2022, 20,800 PRSUs were forfeited and reissued pursuant to the 2022 EIP. The weighted average service inception date fair value of the outstanding awarded shares was $6.0 million. At the beginning of 2022, 30,000 PRSUs During the first quarter of 2018, the Company established a long-term incentive award program under the 2009 Plan. Under the program, 90,000 PRSUs were awarded. For each award, the PRSUs were eligible to be earned over a three-year performance period based on personal performance and the Company’s relative performance, in each case, as compared to certain measurement goals that were established at the onset of the performance period. These 90,000 PRSUs were earned at the end of the three-year period and vested in the first quarter of 2021.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 10 — FAIR VALUE OF FINANCIAL INSTRUMENTS The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. The Company did not have any liabilities that were measured at fair value at June 30, 2022 and December 31, 2021. AFS securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis, such as certain impaired loans. These non-recurring fair value adjustments generally involve the write-down of individual assets due to impairment losses. Accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own judgments about the assumptions that market participants would use in pricing an asset or liability. Assets and Liabilities Measured on a Recurring Basis Assets measured on a recurring basis are limited to the Company’s AFS securities portfolio, equity investments and an interest rate cap derivative contract. The AFS portfolio is carried at estimated fair value with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income or loss in shareholders’ equity. Equity investments are carried at estimated fair value with changes in fair value reported as “unrealized gain/(loss)” on the statements of operations. The interest rate cap derivative contract is carried at estimated fair value with changes in fair value reported as accumulated other comprehensive income or loss in shareholders’ equity. The fair values for substantially all of these assets are obtained monthly from an independent nationally recognized pricing service. On a quarterly basis, the Company assesses the reasonableness of the fair values obtained for the AFS portfolio by reference to a second independent nationally recognized pricing service. Based on the nature of these securities, the Company’s independent pricing service provides prices which are categorized as Level 2 since quoted prices in active markets for identical assets are generally not available for the majority of securities in the Company’s portfolio. Various modeling techniques are used to determine pricing for the Company’s mortgage-backed securities, including option pricing and discounted cash flow models. The inputs to these models include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. On an annual basis, the Company obtains the models, inputs and assumptions utilized by its pricing service and reviews them for reasonableness. There are no liabilities that are measured at fair value on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 61,579 ​ $ — ​ $ 61,579 ​ $ — U.S. State and Municipal securities ​ ​ 9,666 ​ ​ — ​ ​ 9,666 ​ ​ — Residential mortgage securities ​ ​ 375,321 ​ ​ — ​ ​ 375,321 ​ ​ — Commercial mortgage securities ​ ​ 14,984 ​ ​ — ​ ​ 14,984 ​ ​ — Asset-backed securities ​ ​ 4,111 ​ ​ — ​ ​ 4,111 ​ ​ — CRA Mutual Fund ​ ​ 2,107 ​ ​ 2,107 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 14,410 ​ ​ — ​ ​ 14,410 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 66,334 ​ $ — ​ $ 66,334 ​ $ — U.S. State and Municipal securities ​ ​ 11,499 ​ ​ — ​ ​ 11,499 ​ ​ — Residential mortgage securities ​ ​ 466,551 ​ ​ — ​ ​ 466,551 ​ ​ — Commercial mortgage securities ​ ​ 17,627 ​ ​ — ​ ​ 17,627 ​ ​ — Asset-backed securities ​ ​ 4,613 ​ ​ — ​ ​ 4,613 ​ ​ — CRA Mutual Fund ​ ​ 2,273 ​ ​ 2,273 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 3,385 ​ ​ — ​ ​ 3,385 ​ ​ — ​ There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2022 and 2021. There were no material assets measured at fair value on a non-recurring basis at June 30, 2022 or December 31, 2021. ​ Carrying amounts and estimated fair values of financial instruments carried at amortized cost were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At June 30, 2022 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 33,143 ​ $ 33,143 ​ $ — ​ $ — ​ $ 33,143 Overnight deposits ​ ​ 1,308,738 ​ ​ 1,308,738 ​ ​ — ​ ​ — ​ ​ 1,308,738 Securities held-to-maturity ​ ​ 530,740 ​ ​ — ​ ​ 485,988 ​ ​ — ​ ​ 485,988 Loans, net ​ ​ 4,334,631 ​ ​ — ​ ​ — ​ ​ 4,369,905 ​ ​ 4,369,905 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 11,421 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 4,438 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 Time deposits at banks ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Receivable from prepaid card programs, net ​ ​ 68,214 ​ ​ — ​ ​ — ​ ​ 68,214 ​ ​ 68,214 Accrued interest receivable ​ ​ 18,203 ​ ​ — ​ ​ 860 ​ ​ 17,343 ​ ​ 18,203 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 3,470,325 ​ $ 3,470,325 ​ $ — ​ $ — ​ $ 3,470,325 Money market and savings deposits ​ ​ 2,651,675 ​ ​ 2,651,675 ​ ​ — ​ ​ — ​ ​ 2,651,675 Time deposits ​ ​ 56,400 ​ ​ — ​ ​ 55,361 ​ ​ — ​ ​ 55,361 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 19,936 ​ ​ 19,936 Subordinated debt, net of issuance cost ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Prepaid debit cardholder balances ​ ​ 23,531 ​ ​ — ​ ​ — ​ ​ 23,531 ​ ​ 23,531 Accrued interest payable ​ ​ 367 ​ ​ 4 ​ ​ 208 ​ ​ 155 ​ ​ 367 Secured borrowings ​ ​ 32,044 ​ ​ — ​ ​ 32,044 ​ ​ — ​ ​ 32,044 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At December 31, 2021 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 28,864 ​ $ 28,864 ​ $ — ​ $ — ​ $ 28,864 Overnight deposits ​ ​ 2,330,486 ​ ​ 2,330,486 ​ ​ — ​ ​ — ​ ​ 2,330,486 Securities held-to-maturity ​ ​ 382,099 ​ ​ — ​ ​ 380,108 ​ ​ — ​ ​ 380,108 Loans, net ​ ​ 3,697,200 ​ ​ — ​ ​ — ​ ​ 3,721,619 ​ ​ 3,721,619 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,430 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 3,070 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 CRA - CD ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Receivable from prepaid card programs, net ​ ​ 39,864 ​ ​ — ​ ​ — ​ ​ 39,864 ​ ​ 39,864 Accrued interest receivable ​ ​ 15,195 ​ ​ — ​ ​ 892 ​ ​ 14,303 ​ ​ 15,195 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 3,668,673 ​ $ 3,668,673 ​ $ — ​ $ — ​ $ 3,668,673 Money market and savings deposits ​ ​ 2,687,913 ​ ​ 2,687,913 ​ ​ — ​ ​ — ​ ​ 2,687,913 Time deposits ​ ​ 78,986 ​ ​ — ​ ​ 79,187 ​ ​ — ​ ​ 79,187 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 19,997 ​ ​ 19,997 Subordinated debt, net of issuance cost ​ ​ 24,712 ​ ​ — ​ ​ 25,125 ​ ​ — ​ ​ 25,125 Prepaid debit cardholder balances ​ ​ 8,847 ​ ​ — ​ ​ — ​ ​ 8,847 ​ ​ 8,847 Accrued interest payable ​ ​ 746 ​ ​ 5 ​ ​ 633 ​ ​ 108 ​ ​ 746 Secured borrowings ​ ​ 32,461 ​ ​ — ​ ​ 32,507 ​ ​ — ​ ​ 32,507 ​

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2022
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 11 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the amounts reclassified out of accumulated other comprehensive income for the sale and calls of AFS securities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Affected line item in ​ ​ Three months ended ​ Six months ended ​ the Consolidated Statements ​ ​ June 30, ​ June 30, ​ of Operations ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ Realized gain on sale of AFS securities ​ $ — ​ $ 609 ​ $ — ​ $ 609 ​ Gain on Sale of Securities Income tax benefit ​ ​ — ​ ​ (195) ​ ​ — ​ ​ (195) ​ Income tax expense Total reclassifications, net of income tax ​ $ — ​ $ 414 ​ $ — ​ $ 414 ​ ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 12 — COMMITMENTS AND CONTINGENCIES Financial instruments with off-balance-sheet risk The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. The Company’s exposure to credit loss in the event of non-performance by the counterparty to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. The following off-balance-sheet financial instruments, whose contract amounts represent credit risk, are outstanding (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, 2022 ​ At December 31, 2021 ​ ​ Fixed ​ Variable ​ Fixed ​ Variable ​ Rate Rate Rate Rate Unused commitments ​ $ 38,124 ​ $ 350,121 ​ $ 39,676 ​ $ 346,115 Standby and commercial letters of credit ​ ​ 55,325 ​ ​ — ​ ​ 49,988 ​ ​ — ​ ​ $ 93,449 ​ $ 350,121 ​ $ 89,664 ​ $ 346,115 ​ A commitment to extend credit is a legally binding agreement to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally expire within two years. At June 30, 2022, the Company’s fixed rate loan commitments had interest rates ranging from 3.0% to 6.0% and the Company’s variable rate loan commitments had interest rates ranging from 3.8% to 8.8%, with a maturity of one year or more. At December 31, 2021, the Company’s fixed rate loan commitments had interest rates ranging from 3.0% to 5.6% and the Company’s variable rate loan commitments had interest rates ranging from 2.0% to 8.3%, with a maturity of one year or more. The amount of collateral obtained, if any, by the Company upon extension of credit is based on management’s credit evaluation of the borrower. Collateral held varies but may include mortgages on commercial and residential real estate, security interests in business assets, equipment, deposit accounts with the Company or other financial institutions and securities. The Company’s stand-by letters of credit amounted to $55.3 million and $50.0 million as of June 30, 2022 and December 31, 2021, respectively. The Company’s stand-by letters of credit are collateralized by interest-bearing accounts of $29.7 million and $29.6 million as of June 30, 2022 and December 31, 2021, respectively. The stand-by letters of credit mature within one year. Regulatory Proceedings There are ongoing investigations by federal and state governmental entities concerning a prepaid debit card product program that was offered by the Company through an independent program manager. These include investigations by the Board of Governors of the Federal Reserve System and the NYSDFS as to which the Company is a subject. During the early stages of the COVID-19 pandemic, third parties used this prepaid debit card product to establish unauthorized accounts and to receive unauthorized government benefits payments, including unemployment insurance benefits payments made pursuant to the CARES Act. The Company ceased accepting new accounts from this program manager in July of 2020 and has exited its relationship with this program manager. The Company is cooperating in these investigations and continues to review this matter. The foregoing could result in enforcement or other actions against the Company including civil money penalties and remedial measures.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2022
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 13 — REVENUE FROM CONTRACTS WITH CUSTOMERS All of the Company’s revenue from contracts with customers that are in the scope of Accounting Standards Codification 606, Revenue from Contracts with Customers, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ ​ Six months ended June 30, ​ ​ 2022 2021 ​ ​ 2022 2021 ​ Service charges on deposit accounts ​ $ 1,474 ​ $ 1,126 ​ ​ $ 2,844 ​ $ 2,098 ​ Global Payments Group revenue ​ 5,242 ​ 3,851 ​ ​ 10,899 ​ 7,210 ​ Other service charges and fees ​ 355 ​ 566 ​ ​ 861 ​ 868 ​ Total ​ $ 7,071 ​ $ 5,543 ​ ​ $ 14,604 ​ $ 10,176 ​ ​ A description of the Company’s revenue streams accounted for under the accounting guidance is as follows: Service charges on deposit accounts The Company offers business and personal retail products and services, which include, but are not limited to, online banking, mobile banking, ACH, and remote deposit capture. A standard deposit contract exists between the Company and all deposit customers. The Company earns fees from its deposit customers for transaction-based services (such as ATM use fees, stop payment charges, statement rendering, and ACH fees), account maintenance, and overdraft services. Transaction-based fees are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. ​ Global payment group revenue The Company offers corporate cash management and retail banking services and, through its global payments business, provides BaaS to its fintech partners. The Company earns initial set-up fees for these programs as well as fees for transactions processed. The Company receives transaction data at the end of each month for services rendered, at which time revenue is recognized. Additionally, service charges specific to Global payment customers’ deposits are recognized within Global Payment Group revenue. ​ Other service charges The primary component of other service charges relates to FX conversion fees. The Company outsources FX conversion for foreign currency transactions to correspondent banks. The Company earns a portion of an FX conversion fee that the customer charges to process an FX conversion transaction. Revenue is recognized at the end of the month, once the customer has remitted the transaction information to the Company. ​

DERIVATIVES

DERIVATIVES	6 Months Ended
	Jun. 30, 2022
DERIVATIVES
DERIVATIVES	NOTE 14 — DERIVATIVES In 2020, the Company entered into an interest rate cap derivative contract (“interest rate cap” or “contract”) as a part of its asset liability management strategy to help manage its interest rate risk position. The interest rate cap has a notional amount of $300.0 million and matures on March 1, 2025. The notional amount of the interest rate cap does not represent the amount exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the contract. The interest rate subject to the cap is 30-day LIBOR. The interest rate cap was designated as a cash flow hedge of certain deposit liabilities of the Company. The hedge was determined to be highly effective during the three and six months ended June 30, 2022 and 2021. The Company expects the hedge to remain highly effective during the remaining term of the contract. The following tables reflect the derivatives recorded on the balance sheet (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ Fair ​ ​ ​ Amount ​ ​ Value At June 30, 2022 ​ ​ ​ ​ ​ ​ Derivatives designated as hedges: ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits ​ $ 300,000 ​ $ 14,410 Total included in Other Assets ​ $ 300,000 ​ $ 14,410 ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 ​ ​ ​ ​ ​ ​ Derivatives designated as hedges: ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits ​ $ 300,000 ​ $ 3,385 Total included in Other Assets ​ $ 300,000 ​ $ 3,385 ​ ​ The effect of cash flow hedge accounting on accumulated other comprehensive income is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 ​ 2022 2021 Interest rate caps related to customer deposits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in OCI, net of tax ​ $ 1,677 ​ $ (382) ​ $ 7,764 ​ $ 1,166 Amount of gain (loss) reclassified from OCI into income ​ $ — ​ $ — ​ $ — ​ $ — Location of gain (loss) reclassified from OCI into income ​ N/A ​ N/A ​ N/A ​ N/A ​ ​ ​

SUMMARY OF RECENT ACCOUNTING _2

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Jun. 30, 2022
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
BASIS OF PRESENTATION	The accounting and reporting policies of the Company conform with GAAP and predominant practices within the U.S. banking industry. The Unaudited Consolidated Financial Statements (“unaudited financial statements”) include the accounts of the Company and the Bank. All intercompany balances and transactions have been eliminated. The unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X and predominant practices within the U.S. banking industry. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The unaudited financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim unaudited financial statements in conformity with GAAP, management has made estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods, and actual results could differ from those estimated. Information available which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy, inflation and its related effects and changes in the financial condition of borrowers. Some items in the prior year financial statements may have been reclassified to conform to the current presentation. Reclassification had no effect on prior year net income or stockholders’ equity. The results of operations for the three and six months ended June 30, 2022 and 2021 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year or for any other period. The unaudited financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC.
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	Pursuant to the JOBS Act, an EGC is provided the option to adopt new or revised accounting standards that may be issued by the FASB or the SEC either (i) within the same periods as those otherwise applicable to non-EGCs or (ii) within the same time periods as private companies. The Company elected to utilize delayed effective dates of recently issued accounting standards. As permitted by the JOBS Act, so long as it qualifies as an EGC, the Company will take advantage of certain of the reduced regulatory and reporting requirements that are available to it, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation, and exemptions from the requirements of holding non-binding advisory votes on executive compensation and golden parachute payments. The Company will lose its EGC status on December 31, 2022, since that would be the last day of the fiscal year of the Company following the fifth anniversary of the date of the first sale of common equity securities of the Company pursuant to an effective registration statement under the Securities Act of 1933. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires companies that lease assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated statement of financial condition, which will increase the Company’s assets and liabilities. The Company is required to implement ASU 2016-02 by December 31, 2022 and is currently evaluating the potential impact on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), which requires that the measurement of all expected credit losses for financial assets held at amortized cost be based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 requires that financial institutions and other organizations will use forward-looking information to better inform their credit loss estimates. This guidance also amends the accounting for credit losses on AFS debt securities and purchased financial assets with credit deterioration. In October 2019, the FASB approved a delay for the implementation of ASU 2016-13. Accordingly, the Company is required to implement ASU 2016-13 by January 1, 2023. Management has established a committee to evaluate the impact of ASU 2016-13 on the Company’s financial statements. The Company expects to recognize a one-time cumulative adjustment to the allowance for loan losses as of the beginning of the reporting period in which ASU 2016-13 takes effect. The Company is currently analyzing certain aspects of the CECL models, inputting data into the models, and evaluating the potential impact on the Company’s ALLL. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test, which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard was effective for the Company beginning January 1, 2021, and did not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this ASU clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Management has established a working group that is in the process of evaluating the impact of the transition from LIBOR on the Company and its consolidated financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments -

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2022
INVESTMENT SECURITIES
Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity	The following tables summarize the amortized cost and fair value of debt securities AFS and HTM and equity investments and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At June 30, 2022 Cost Gains Losses Fair Value Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 67,995 ​ $ — ​ $ (6,416) ​ $ 61,579 U.S. State and Municipal securities ​ ​ 11,724 ​ ​ — ​ ​ (2,058) ​ ​ 9,666 Residential MBS ​ ​ 427,596 ​ ​ — ​ ​ (52,275) ​ ​ 375,321 Commercial MBS ​ ​ 16,434 ​ ​ — ​ ​ (1,450) ​ ​ 14,984 Asset-backed securities ​ ​ 4,324 ​ ​ — ​ ​ (213) ​ ​ 4,111 Total securities available-for-sale ​ $ 528,073 ​ $ — ​ $ (62,412) ​ $ 465,661 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 29,832 ​ $ — ​ $ (1,652) ​ $ 28,180 U.S. State and Municipal securities ​ ​ 15,936 ​ ​ — ​ ​ (2,598) ​ ​ 13,338 Residential MBS ​ ​ 476,851 ​ ​ 71 ​ ​ (39,662) ​ ​ 437,260 Commercial MBS ​ ​ 8,121 ​ ​ — ​ ​ (911) ​ ​ 7,210 Total securities held-to-maturity ​ $ 530,740 ​ $ 71 ​ $ (44,823) ​ $ 485,988 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,339 ​ $ — ​ $ (232) ​ $ 2,107 Total equity investment securities ​ $ 2,339 ​ $ — ​ $ (232) ​ $ 2,107 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At December 31, 2021 Cost Gains Losses Fair Value Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 67,994 ​ $ — ​ $ (1,660) ​ $ 66,334 U.S. State and Municipal securities ​ ​ 11,799 ​ ​ — ​ ​ (300) ​ ​ 11,499 Residential MBS ​ ​ 476,393 ​ ​ 623 ​ ​ (10,465) ​ ​ 466,551 Commercial MBS ​ ​ 17,787 ​ ​ 219 ​ ​ (379) ​ ​ 17,627 Asset-backed securities ​ ​ 4,635 ​ ​ — ​ ​ (22) ​ ​ 4,613 Total securities available-for-sale ​ $ 578,608 ​ $ 842 ​ $ (12,826) ​ $ 566,624 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 29,811 ​ $ 6 ​ $ (43) ​ $ 29,774 U.S. State and Municipal securities ​ ​ 16,055 ​ ​ 299 ​ ​ — ​ ​ 16,354 Residential MBS ​ ​ 328,095 ​ ​ 105 ​ ​ (2,259) ​ ​ 325,941 Commercial MBS ​ ​ 8,138 ​ ​ — ​ ​ (99) ​ ​ 8,039 Total securities held-to-maturity ​ $ 382,099 ​ $ 410 ​ $ (2,401) ​ $ 380,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity Investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,326 ​ $ — ​ $ (53) ​ $ 2,273 Total equity investment securities ​ $ 2,326 ​ $ — ​ $ (53) ​ $ 2,273
Schedule of proceeds from sales and calls of securities and associated gains	The following table summarizes the proceeds from sales and calls of AFS securities and the associated gains (losses) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 2022 2021 Proceeds ​ $ — ​ $ 43,241 ​ $ — ​ $ 43,241 Gross gains ​ $ — ​ $ 609 ​ $ — ​ $ 609 Tax impact ​ $ — ​ $ (195) ​ $ — ​ $ (195)
Schedule of amortized cost and fair value of debt securities classified by contractual maturity	The tables below summarize, by contractual maturity, the amortized cost and fair value of debt securities. The tables do not include the effect of principal repayments or scheduled principal amortization. Equity securities, primarily investments in mutual funds, have been excluded from the table. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At June 30, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year ​ $ — ​ $ — ​ $ — ​ $ — After 1 year through 5 years ​ ​ 29,832 ​ ​ 28,179 ​ ​ 49,534 ​ ​ 45,709 After 5 years through 10 years ​ ​ 9,686 ​ ​ 8,726 ​ ​ 32,880 ​ ​ 30,088 After 10 years ​ ​ 491,222 ​ ​ 449,083 ​ ​ 445,659 ​ ​ 389,864 Total Securities ​ $ 530,740 ​ $ 485,988 ​ $ 528,073 ​ $ 465,661 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Due within 1 year ​ $ — ​ $ — ​ $ — ​ $ — After 1 year through 5 years ​ ​ 29,811 ​ ​ 29,774 ​ ​ 48,515 ​ ​ 47,370 After 5 years through 10 years ​ ​ 9,973 ​ ​ 9,912 ​ ​ 36,242 ​ ​ 36,024 After 10 years ​ ​ 342,315 ​ ​ 340,422 ​ ​ 493,851 ​ ​ 483,230 Total Securities ​ $ 382,099 ​ $ 380,108 ​ $ 578,608 ​ $ 566,624
Schedule of securities with unrealized/unrecognized losses	Debt securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized At June 30, 2022 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ — ​ $ — ​ $ 61,579 ​ $ (6,416) ​ $ 61,579 ​ $ (6,416) U.S. State and Municipal securities ​ ​ 5,871 ​ ​ (1,016) ​ ​ 3,795 ​ ​ (1,042) ​ ​ 9,666 ​ ​ (2,058) Residential MBS ​ ​ 244,366 ​ ​ (30,483) ​ ​ 130,955 ​ ​ (21,792) ​ ​ 375,321 ​ ​ (52,275) Commercial MBS ​ ​ 2,639 ​ ​ (26) ​ ​ 12,345 ​ ​ (1,424) ​ ​ 14,984 ​ ​ (1,450) Asset-backed securities ​ ​ 4,111 ​ ​ (213) ​ ​ — ​ ​ — ​ ​ 4,111 ​ ​ (213) Total securities available-for-sale ​ $ 256,987 ​ $ (31,738) ​ $ 208,674 ​ $ (30,674) ​ $ 465,661 ​ $ (62,412) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 28,180 ​ $ (1,652) ​ $ — ​ $ — ​ $ 28,180 ​ $ (1,652) U.S. State and Municipal securities ​ ​ 13,338 ​ ​ (2,598) ​ ​ — ​ ​ — ​ ​ 13,338 ​ ​ (2,598) Residential MBS ​ ​ 409,189 ​ ​ (39,662) ​ ​ — ​ ​ — ​ ​ 409,189 ​ ​ (39,662) Commercial MBS ​ ​ 7,210 ​ ​ (911) ​ ​ — ​ ​ — ​ ​ 7,210 ​ ​ (911) Asset-backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total securities held-to-maturity ​ $ 457,917 ​ $ (44,823) ​ $ — ​ $ — ​ $ 457,917 ​ $ (44,823) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ ​ ​ Unrealized/ ​ ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized ​ Estimated ​ Unrecognized At December 31, 2021 Fair Value Losses Fair Value Losses Fair Value Losses Available-for-Sale Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 29,267 ​ $ (730) ​ $ 37,067 ​ $ (930) ​ $ 66,334 ​ $ (1,660) U.S. State and Municipal securities ​ ​ 8,372 ​ ​ (300) ​ ​ — ​ ​ — ​ ​ 8,372 ​ ​ (300) Residential MBS ​ ​ 423,686 ​ ​ (9,727) ​ ​ 12,931 ​ ​ (738) ​ ​ 436,617 ​ ​ (10,465) Commercial MBS ​ ​ 11,202 ​ ​ (296) ​ ​ 3,511 ​ ​ (83) ​ ​ 14,713 ​ ​ (379) Asset-backed securities ​ ​ 4,613 ​ ​ (22) ​ ​ — ​ ​ — ​ ​ 4,613 ​ ​ (22) Total securities available-for-sale ​ $ 477,140 ​ $ (11,075) ​ $ 53,509 ​ $ (1,751) ​ $ 530,649 ​ $ (12,826) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities ​ $ 9,697 ​ $ (43) ​ $ — ​ $ — ​ $ 9,697 ​ $ (43) Residential MBS ​ ​ 301,896 ​ ​ (2,259) ​ ​ — ​ ​ — ​ ​ 301,896 ​ ​ (2,259) Commercial MBS ​ ​ 8,039 ​ ​ (99) ​ ​ — ​ ​ — ​ ​ 8,039 ​ ​ (99) Total securities held-to-maturity ​ $ 319,632 ​ $ (2,401) ​ $ — ​ $ — ​ $ 319,632 ​ $ (2,401)

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2022
LOANS AND ALLOWANCE FOR LOAN LOSSES
Schedule of Net loans	Loans, net of deferred costs and fees, consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 ​ 2021 Real estate ​ ​ ​ ​ ​ ​ Commercial ​ $ 2,922,190 ​ $ 2,488,382 Construction ​ ​ 185,661 ​ ​ 151,791 Multi-family ​ ​ 418,726 ​ ​ 355,290 One-to-four family ​ ​ 51,190 ​ ​ 57,163 Total real estate loans ​ ​ 3,577,767 ​ ​ 3,052,626 Commercial and industrial ​ ​ 780,677 ​ ​ 654,535 Consumer ​ ​ 27,657 ​ ​ 32,366 Total loans ​ ​ 4,386,101 ​ ​ 3,739,527 Deferred fees, net of origination costs ​ ​ (10,936) ​ ​ (7,598) Loans, net of deferred fees and costs ​ ​ 4,375,165 ​ ​ 3,731,929 Allowance for loan losses ​ ​ (40,534) ​ ​ (34,729) Net loans ​ $ 4,334,631 ​ $ 3,697,200
Schedule of changes in the allowance for loan losses by portfolio segment	The following tables present the activity in the ALLL by segment. The portfolio segments represent the categories that the Company uses to determine its ALLL (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended June 30, 2022 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 24,720 ​ $ 8,488 ​ $ 2,329 ​ $ 2,256 ​ $ 104 ​ $ 237 ​ $ 38,134 Provision/(credit) for loan losses ​ ​ 1,225 ​ ​ 656 ​ ​ 258 ​ ​ 283 ​ ​ (2) ​ ​ (20) ​ ​ 2,400 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 18,341 ​ $ 10,827 ​ $ 1,707 ​ $ 2,732 ​ $ 178 ​ $ 1,717 ​ $ 35,502 Provision/(credit) for loan losses ​ ​ 1,958 ​ ​ (282) ​ ​ 265 ​ ​ (114) ​ ​ (9) ​ ​ 57 ​ ​ 1,875 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ Six months ended June 30, 2022 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 22,216 ​ $ 7,708 ​ $ 2,105 ​ $ 2,156 ​ $ 140 ​ $ 404 ​ $ 34,729 Provision (credit) for loan losses ​ ​ 3,729 ​ ​ 1,436 ​ ​ 482 ​ ​ 383 ​ ​ (38) ​ ​ (192) ​ ​ 5,800 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5 ​ ​ 5 Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Provision (credit) for loan losses ​ ​ 3,056 ​ ​ (723) ​ ​ 379 ​ ​ (43) ​ ​ (37) ​ ​ 193 ​ ​ 2,825 Loans charged-off ​ ​ — ​ ​ (855) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (855) Recoveries ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ending allowance balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment	The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ At June 30, 2022 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 24 ​ $ 24 Collectively evaluated for impairment ​ ​ 25,945 ​ ​ 9,144 ​ ​ 2,587 ​ ​ 2,539 ​ ​ 102 ​ ​ 193 ​ ​ 40,510 Total ending allowance balance ​ $ 25,945 ​ $ 9,144 ​ $ 2,587 ​ $ 2,539 ​ $ 102 ​ $ 217 ​ $ 40,534 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 28,549 ​ $ — ​ $ — ​ $ — ​ $ 921 ​ $ 24 ​ $ 29,494 Collectively evaluated for impairment ​ ​ 2,893,641 ​ ​ 780,677 ​ ​ 185,661 ​ ​ 418,726 ​ ​ 50,269 ​ ​ 27,633 ​ ​ 4,356,607 Total ending loan balance ​ $ 2,922,190 ​ $ 780,677 ​ $ 185,661 ​ $ 418,726 ​ $ 51,190 ​ $ 27,657 ​ $ 4,386,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ One-to-four ​ ​ ​ ​ ​ ​ At December 31, 2021 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 26 ​ $ 170 ​ $ 196 Collectively evaluated for impairment ​ ​ 22,216 ​ ​ 7,708 ​ ​ 2,105 ​ ​ 2,156 ​ ​ 114 ​ ​ 234 ​ ​ 34,533 Total ending allowance balance ​ $ 22,216 ​ $ 7,708 ​ $ 2,105 ​ $ 2,156 ​ $ 140 ​ $ 404 ​ $ 34,729 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 38,518 ​ $ — ​ $ — ​ $ — ​ $ 946 ​ $ 302 ​ $ 39,766 Collectively evaluated for impairment ​ ​ 2,449,864 ​ ​ 654,535 ​ ​ 151,791 ​ ​ 355,290 ​ ​ 56,217 ​ ​ 32,064 ​ ​ 3,699,761 Total ending loan balance ​ $ 2,488,382 ​ $ 654,535 ​ $ 151,791 ​ $ 355,290 ​ $ 57,163 ​ $ 32,366 ​ $ 3,739,527
Schedule of loans determined to be impaired by class of loans	The following tables present loans individually evaluated for impairment recognized (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ Unpaid ​ ​ ​ for Loan ​ ​ ​ Principal ​ Recorded ​ Losses ​ At June 30, 2022 Balance Investment Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ $ 24 ​ $ 24 ​ $ 24 ​ Total ​ $ 24 ​ $ 24 ​ $ 24 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 1,197 ​ $ 921 ​ $ — ​ CRE ​ ​ 28,550 ​ ​ 28,549 ​ ​ — ​ Total ​ $ 29,747 ​ $ 29,470 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance ​ ​ ​ Unpaid ​ ​ ​ for Loan ​ ​ ​ Principal ​ Recorded ​ Losses ​ At December 31, 2021 Balance Investment Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 577 ​ $ 447 ​ $ 26 ​ Consumer ​ ​ 302 ​ ​ 302 ​ ​ 170 ​ Total ​ $ 879 ​ $ 749 ​ $ 196 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 646 ​ $ 499 ​ $ — ​ CRE ​ ​ 38,518 ​ ​ 38,518 ​ ​ — ​ Total ​ $ 39,164 ​ $ 39,017 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Interest ​ ​ Recorded ​ Income Three months ended June 30, 2022 ​ Investment ​ Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ Consumer ​ $ 24 ​ $ — Total ​ $ 24 ​ $ — ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 927 ​ $ 9 CRE ​ ​ 28,514 ​ ​ 266 Total ​ $ 29,441 ​ $ 275 ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ​ ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 465 ​ $ 4 Consumer ​ ​ 2,140 ​ ​ 29 C&I ​ ​ 3,145 ​ ​ — Total ​ $ 5,750 ​ $ 33 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 511 ​ $ 7 CRE ​ ​ 10,339 ​ ​ 37 C&I ​ ​ 192 ​ ​ — Total ​ $ 11,042 ​ $ 44 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Interest ​ ​ Recorded ​ Income Six months ended June 30, 2022 ​ Investment ​ Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ Consumer ​ $ 117 ​ $ — Total ​ $ 117 ​ $ — ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 784 ​ $ 18 CRE ​ ​ 31,849 ​ ​ 496 Total ​ $ 32,633 ​ $ 514 ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ​ ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 470 ​ $ 12 Consumer ​ ​ 2,159 ​ ​ 58 C&I ​ ​ 3,494 ​ ​ — Total ​ $ 6,123 ​ $ 70 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 514 ​ $ 13 CRE ​ ​ 10,341 ​ ​ 204 C&I ​ ​ 128 ​ ​ — Total ​ $ 10,983 ​ $ 217
Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans	The following tables present the recorded investment in non-accrual loans and loans past due over 90 days and still accruing, by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due ​ ​ ​ ​ ​ Over 90 Days At June 30, 2022 Nonaccrual ​ Still Accruing Consumer ​ $ 24 ​ $ — Total ​ $ 24 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due ​ ​ ​ ​ ​ Over 90 Days At December 31, 2021 ​ ​ Nonaccrual ​ Still Accruing Commercial real estate ​ $ 9,984 ​ $ — Consumer ​ ​ 37 ​ ​ 265 Total ​ $ 10,021 ​ $ 265
Schedule of aging of the recorded investment in past due loans by class of loans	The following tables present the aging of the recorded investment in past due loans by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At June 30, 2022 Days Days greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 2,922,190 ​ $ 2,922,190 Commercial & industrial ​ ​ 95 ​ ​ — ​ ​ — ​ ​ 95 ​ ​ 780,582 ​ ​ 780,677 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 185,661 ​ ​ 185,661 Multi-family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 418,726 ​ ​ 418,726 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 51,190 ​ ​ 51,190 Consumer ​ ​ 48 ​ ​ 15 ​ ​ 24 ​ ​ 87 ​ ​ 27,570 ​ ​ 27,657 Total ​ $ 143 ​ $ 15 ​ $ 24 ​ $ 182 ​ $ 4,385,919 ​ $ 4,386,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At December 31, 2021 Days Days greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ 9,984 ​ $ 9,984 ​ $ 2,478,398 ​ $ 2,488,382 Commercial & industrial ​ ​ 151 ​ ​ — ​ ​ — ​ ​ 151 ​ ​ 654,384 ​ ​ 654,535 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 151,791 ​ ​ 151,791 Multi-family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 355,290 ​ ​ 355,290 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 57,163 ​ ​ 57,163 Consumer ​ ​ 93 ​ ​ 94 ​ ​ 302 ​ ​ 489 ​ ​ 31,877 ​ ​ 32,366 Total ​ $ 244 ​ $ 94 ​ $ 10,286 ​ $ 10,624 ​ $ 3,728,903 ​ $ 3,739,527
Schedule of recorded investment in TDRs by class of loans	The following tables present the recorded investment in TDRs by class of loans (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2022 ​ 2021 Commercial real estate ​ $ 334 ​ $ 342 One-to-four family ​ ​ 921 ​ ​ 946 Total ​ $ 1,255 ​ $ 1,288
Schedule of risk category of loans by class of loans	Loans not meeting the criteria above are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, 2022 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,893,641 ​ $ 334 ​ $ 28,215 ​ $ — ​ $ 2,922,190 Commercial & industrial ​ ​ 776,790 ​ ​ 3,887 ​ ​ — ​ ​ — ​ ​ 780,677 Construction ​ ​ 185,661 ​ ​ — ​ ​ — ​ ​ — ​ ​ 185,661 Multi-family ​ ​ 418,726 ​ ​ — ​ ​ — ​ ​ — ​ ​ 418,726 Total ​ $ 4,274,818 ​ $ 4,221 ​ $ 28,215 ​ $ — ​ $ 4,307,254 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,449,864 ​ $ 342 ​ $ 38,176 ​ $ — ​ $ 2,488,382 Commercial & industrial ​ ​ 646,251 ​ ​ 4,177 ​ ​ 4,107 ​ ​ — ​ ​ 654,535 Construction ​ ​ 151,791 ​ ​ — ​ ​ — ​ ​ — ​ ​ 151,791 Multi-family ​ ​ 355,290 ​ ​ — ​ ​ — ​ ​ — ​ ​ 355,290 Total ​ $ 3,603,196 ​ $ 4,519 ​ $ 42,283 ​ $ — ​ $ 3,649,998

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
EARNINGS PER SHARE
Schedule of earnings per share	The factors used in the earnings per share calculation are as follows (in thousands, except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 2022 2021 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per consolidated statements of income ​ $ 23,189 ​ $ 13,336 ​ $ 42,210 ​ $ 25,453 Less: Earnings allocated to participating securities ​ ​ (63) ​ ​ (84) ​ ​ (85) ​ ​ (106) Net income available to common stockholders ​ $ 23,126 ​ $ 13,252 ​ $ 42,125 ​ $ 25,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 10,961,697 ​ ​ 8,343,946 ​ ​ 10,947,829 ​ ​ 8,329,003 Less: Weighted average participating securities ​ ​ (30,000) ​ ​ (31,712) ​ ​ (22,111) ​ ​ (34,599) Weighted average common shares outstanding ​ ​ 10,931,697 ​ ​ 8,312,234 ​ ​ 10,925,718 ​ ​ 8,294,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 2.12 ​ $ 1.59 ​ $ 3.86 ​ $ 3.06 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income allocated to common stockholders ​ $ 23,126 ​ $ 13,252 ​ $ 42,125 ​ $ 25,347 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding for basic earnings per common share ​ ​ 10,931,697 ​ ​ 8,312,234 ​ ​ 10,925,718 ​ ​ 8,294,404 Add: Dilutive effects of assumed exercise of stock options ​ ​ 180,787 ​ ​ 162,674 ​ ​ 186,364 ​ ​ 153,545 Add: Dilutive effects of assumed vesting of performance based restricted stock ​ ​ 52,004 ​ ​ 38,495 ​ ​ 63,980 ​ ​ 31,613 Add: Dilutive effects of assumed vesting of restricted stock units ​ ​ 25,319 ​ ​ 30,071 ​ ​ 32,930 ​ ​ 17,383 Average shares and dilutive potential common shares ​ ​ 11,189,807 ​ ​ 8,543,474 ​ ​ 11,208,992 ​ ​ 8,496,945 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive earnings per common share ​ $ 2.07 ​ $ 1.55 ​ $ 3.76 ​ $ 2.98

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)	6 Months Ended
	Jun. 30, 2022
STOCK COMPENSATION PLAN
Schedule of status of the stock option plan	​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, 2022 ​ ​ ​ ​ Weighted ​ Number of Average ​ ​ Options ​ Exercise Price ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 231,000 ​ $ 18.00 Granted ​ — ​ ​ — Exercised ​ — ​ ​ — Cancelled/forfeited ​ — ​ ​ — Outstanding, end of period ​ 231,000 ​ $ 18.00 Options vested and exercisable at end of period ​ 231,000 ​ $ 18.00 ​ ​ ​ ​ ​ ​ Weighted average remaining contractual life (years) ​ ​ ​ ​ 1.88
Schedule of summary of stock options outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Number ​ Average ​ Weighted ​ Weighted Range of Average ​ Outstanding at ​ Remaining ​ Average ​ Average Exercise Prices June 30, 2022 Contractual Life Exercise Price ​ Intrinsic Value $10 – 30 ​ 231,000 ​ 1.88 ​ $ 18.00 ​ $ 83.77
Schedule of changes in the non-vested restricted stock awards	​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ June 30, 2022 ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ Shares Fair Value Outstanding, beginning of period ​ 90,999 ​ $ 47.35 Granted ​ 83,151 ​ ​ 102.49 Forfeited ​ (200) ​ ​ 80.34 Vested ​ (29,818) ​ ​ 44.47 Outstanding at end of period ​ 144,132 ​ $ 79.70

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of Assets and Liabilities measured at fair value on a recurring basis	Assets measured at fair value on a recurring basis are summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 61,579 ​ $ — ​ $ 61,579 ​ $ — U.S. State and Municipal securities ​ ​ 9,666 ​ ​ — ​ ​ 9,666 ​ ​ — Residential mortgage securities ​ ​ 375,321 ​ ​ — ​ ​ 375,321 ​ ​ — Commercial mortgage securities ​ ​ 14,984 ​ ​ — ​ ​ 14,984 ​ ​ — Asset-backed securities ​ ​ 4,111 ​ ​ — ​ ​ 4,111 ​ ​ — CRA Mutual Fund ​ ​ 2,107 ​ ​ 2,107 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 14,410 ​ ​ — ​ ​ 14,410 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government agency securities ​ $ 66,334 ​ $ — ​ $ 66,334 ​ $ — U.S. State and Municipal securities ​ ​ 11,499 ​ ​ — ​ ​ 11,499 ​ ​ — Residential mortgage securities ​ ​ 466,551 ​ ​ — ​ ​ 466,551 ​ ​ — Commercial mortgage securities ​ ​ 17,627 ​ ​ — ​ ​ 17,627 ​ ​ — Asset-backed securities ​ ​ 4,613 ​ ​ — ​ ​ 4,613 ​ ​ — CRA Mutual Fund ​ ​ 2,273 ​ ​ 2,273 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 3,385 ​ ​ — ​ ​ 3,385 ​ ​ —
Schedule of carrying amount and estimated fair values of financial instruments	Carrying amounts and estimated fair values of financial instruments carried at amortized cost were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At June 30, 2022 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 33,143 ​ $ 33,143 ​ $ — ​ $ — ​ $ 33,143 Overnight deposits ​ ​ 1,308,738 ​ ​ 1,308,738 ​ ​ — ​ ​ — ​ ​ 1,308,738 Securities held-to-maturity ​ ​ 530,740 ​ ​ — ​ ​ 485,988 ​ ​ — ​ ​ 485,988 Loans, net ​ ​ 4,334,631 ​ ​ — ​ ​ — ​ ​ 4,369,905 ​ ​ 4,369,905 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 11,421 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 4,438 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 Time deposits at banks ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Receivable from prepaid card programs, net ​ ​ 68,214 ​ ​ — ​ ​ — ​ ​ 68,214 ​ ​ 68,214 Accrued interest receivable ​ ​ 18,203 ​ ​ — ​ ​ 860 ​ ​ 17,343 ​ ​ 18,203 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 3,470,325 ​ $ 3,470,325 ​ $ — ​ $ — ​ $ 3,470,325 Money market and savings deposits ​ ​ 2,651,675 ​ ​ 2,651,675 ​ ​ — ​ ​ — ​ ​ 2,651,675 Time deposits ​ ​ 56,400 ​ ​ — ​ ​ 55,361 ​ ​ — ​ ​ 55,361 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 19,936 ​ ​ 19,936 Subordinated debt, net of issuance cost ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Prepaid debit cardholder balances ​ ​ 23,531 ​ ​ — ​ ​ — ​ ​ 23,531 ​ ​ 23,531 Accrued interest payable ​ ​ 367 ​ ​ 4 ​ ​ 208 ​ ​ 155 ​ ​ 367 Secured borrowings ​ ​ 32,044 ​ ​ — ​ ​ 32,044 ​ ​ — ​ ​ 32,044 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At December 31, 2021 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 28,864 ​ $ 28,864 ​ $ — ​ $ — ​ $ 28,864 Overnight deposits ​ ​ 2,330,486 ​ ​ 2,330,486 ​ ​ — ​ ​ — ​ ​ 2,330,486 Securities held-to-maturity ​ ​ 382,099 ​ ​ — ​ ​ 380,108 ​ ​ — ​ ​ 380,108 Loans, net ​ ​ 3,697,200 ​ ​ — ​ ​ — ​ ​ 3,721,619 ​ ​ 3,721,619 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,430 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 3,070 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 CRA - CD ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Receivable from prepaid card programs, net ​ ​ 39,864 ​ ​ — ​ ​ — ​ ​ 39,864 ​ ​ 39,864 Accrued interest receivable ​ ​ 15,195 ​ ​ — ​ ​ 892 ​ ​ 14,303 ​ ​ 15,195 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 3,668,673 ​ $ 3,668,673 ​ $ — ​ $ — ​ $ 3,668,673 Money market and savings deposits ​ ​ 2,687,913 ​ ​ 2,687,913 ​ ​ — ​ ​ — ​ ​ 2,687,913 Time deposits ​ ​ 78,986 ​ ​ — ​ ​ 79,187 ​ ​ — ​ ​ 79,187 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 19,997 ​ ​ 19,997 Subordinated debt, net of issuance cost ​ ​ 24,712 ​ ​ — ​ ​ 25,125 ​ ​ — ​ ​ 25,125 Prepaid debit cardholder balances ​ ​ 8,847 ​ ​ — ​ ​ — ​ ​ 8,847 ​ ​ 8,847 Accrued interest payable ​ ​ 746 ​ ​ 5 ​ ​ 633 ​ ​ 108 ​ ​ 746 Secured borrowings ​ ​ 32,461 ​ ​ — ​ ​ 32,507 ​ ​ — ​ ​ 32,507

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2022
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of reclassifications out of accumulated other comprehensive income	The following table shows the amounts reclassified out of accumulated other comprehensive income for the sale and calls of AFS securities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Affected line item in ​ ​ Three months ended ​ Six months ended ​ the Consolidated Statements ​ ​ June 30, ​ June 30, ​ of Operations ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 ​ ​ Realized gain on sale of AFS securities ​ $ — ​ $ 609 ​ $ — ​ $ 609 ​ Gain on Sale of Securities Income tax benefit ​ ​ — ​ ​ (195) ​ ​ — ​ ​ (195) ​ Income tax expense Total reclassifications, net of income tax ​ $ — ​ $ 414 ​ $ — ​ $ 414 ​ ​ ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTINGENCIES
Schedule of off-balance-sheet financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At June 30, 2022 ​ At December 31, 2021 ​ ​ Fixed ​ Variable ​ Fixed ​ Variable ​ Rate Rate Rate Rate Unused commitments ​ $ 38,124 ​ $ 350,121 ​ $ 39,676 ​ $ 346,115 Standby and commercial letters of credit ​ ​ 55,325 ​ ​ — ​ ​ 49,988 ​ ​ — ​ ​ $ 93,449 ​ $ 350,121 ​ $ 89,664 ​ $ 346,115

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2022
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of Company's sources of non-interest income	The following table presents the Company’s revenue from contracts with customers (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ ​ Six months ended June 30, ​ ​ 2022 2021 ​ ​ 2022 2021 ​ Service charges on deposit accounts ​ $ 1,474 ​ $ 1,126 ​ ​ $ 2,844 ​ $ 2,098 ​ Global Payments Group revenue ​ 5,242 ​ 3,851 ​ ​ 10,899 ​ 7,210 ​ Other service charges and fees ​ 355 ​ 566 ​ ​ 861 ​ 868 ​ Total ​ $ 7,071 ​ $ 5,543 ​ ​ $ 14,604 ​ $ 10,176 ​

DERIVATIVES (Tables)

DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2022
DERIVATIVES
Schedule of notional amount and fair value	The following tables reflect the derivatives recorded on the balance sheet (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ Fair ​ ​ ​ Amount ​ ​ Value At June 30, 2022 ​ ​ ​ ​ ​ ​ Derivatives designated as hedges: ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits ​ $ 300,000 ​ $ 14,410 Total included in Other Assets ​ $ 300,000 ​ $ 14,410 ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 ​ ​ ​ ​ ​ ​ Derivatives designated as hedges: ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits ​ $ 300,000 ​ $ 3,385 Total included in Other Assets ​ $ 300,000 ​ $ 3,385
Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income	​ The effect of cash flow hedge accounting on accumulated other comprehensive income is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ 2022 2021 ​ 2022 2021 Interest rate caps related to customer deposits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain (loss) recognized in OCI, net of tax ​ $ 1,677 ​ $ (382) ​ $ 7,764 ​ $ 1,166 Amount of gain (loss) reclassified from OCI into income ​ $ — ​ $ — ​ $ — ​ $ — Location of gain (loss) reclassified from OCI into income ​ N/A ​ N/A ​ N/A ​ N/A ​ ​

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities available-for-sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Investment securities available for sale, at fair value	$ 465,661	$ 566,624
Available-for-sale Securities.
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	528,073	578,608
Gross Unrealized/Unrecognized Gains		842
Gross Unrealized/Unrecognized Losses	(62,412)	(12,826)
Investment securities available for sale, at fair value	465,661	566,624
Available-for-sale Securities. | U.S. Government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	67,995	67,994
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(6,416)	(1,660)
Investment securities available for sale, at fair value	61,579	66,334
Available-for-sale Securities. | U.S. State and Municipal securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,724	11,799
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(2,058)	(300)
Investment securities available for sale, at fair value	9,666	11,499
Available-for-sale Securities. | Residential MBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	427,596	476,393
Gross Unrealized/Unrecognized Gains		623
Gross Unrealized/Unrecognized Losses	(52,275)	(10,465)
Investment securities available for sale, at fair value	375,321	466,551
Available-for-sale Securities. | Commercial MBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,434	17,787
Gross Unrealized/Unrecognized Gains		219
Gross Unrealized/Unrecognized Losses	(1,450)	(379)
Investment securities available for sale, at fair value	14,984	17,627
Available-for-sale Securities. | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,324	4,635
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(213)	(22)
Investment securities available for sale, at fair value	$ 4,111	$ 4,613

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities held-to-maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 530,740	$ 382,099
Total Securities	486,000	380,100
Held-to-maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	530,740	382,099
Gross Unrealized/Unrecognized Gains	71	410
Gross Unrealized/Unrecognized Losses	(44,823)	(2,401)
Total Securities	485,988	380,108
Held-to-maturity Securities | US Treasury Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	29,832	29,811
Gross Unrealized/Unrecognized Gains		6
Gross Unrealized/Unrecognized Losses	(1,652)	(43)
Total Securities	28,180	29,774
Held-to-maturity Securities | U.S. State and Municipal securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	15,936	16,055
Gross Unrealized/Unrecognized Gains		299
Gross Unrealized/Unrecognized Losses	(2,598)	0
Total Securities	13,338	16,354
Held-to-maturity Securities | Residential MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	476,851	328,095
Gross Unrealized/Unrecognized Gains	71	105
Gross Unrealized/Unrecognized Losses	(39,662)	(2,259)
Total Securities	437,260	325,941
Held-to-maturity Securities | Commercial MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	8,121	8,138
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(911)	(99)
Total Securities	$ 7,210	$ 8,039

INVESTMENT SECURITIES (Schedu_3

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of marketable equity securities) (Details) - Equity securities - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 2,339	$ 2,326
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(232)	(53)
Fair Value	2,107	2,273
CRA mutual fund
Marketable Securities [Line Items]
Amortized Cost	2,339	2,326
Gross Unrealized/Unrecognized Gains		0
Gross Unrealized/Unrecognized Losses	(232)	(53)
Fair Value	$ 2,107	$ 2,273

INVESTMENT SECURITIES (Proceeds

INVESTMENT SECURITIES (Proceeds from sales and calls of securities and associated gains and losses) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
INVESTMENT SECURITIES
Proceeds	$ 43,241	$ 43,241
Gross gains	609	609
Tax impact	$ (195)	$ (195)

INVESTMENT SECURITIES (Schedu_4

INVESTMENT SECURITIES (Schedule of Amortized Cost and Fair Value of Securities Classified by Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
After 1 year through 5 years	$ 29,832	$ 29,811
After 5 years though 10 years	9,686	9,973
After 10 years	491,222	342,315
Amortized Cost, total	530,740	382,099
Fair Value
After 1 year through 5 years	28,179	29,774
After 5 years though 10 years	8,726	9,912
After 10 years	449,083	340,422
Fair Value, total	485,988	380,108
Amortized Cost
After 1 year through 5 years	49,534	48,515
After 5 years though 10 years	32,880	36,242
After 10 years	445,659	493,851
Amortized Cost, total	528,073	578,608
Fair Value
After 1 year through 5 years	45,709	47,370
After 5 years though 10 years	30,088	36,024
After 10 years	389,864	483,230
Fair Value, total	465,661	566,624
AFS securities pledged to secure customer deposit	$ 0	$ 0

INVESTMENT SECURITIES (Schedu_5

INVESTMENT SECURITIES (Schedule of Securities with Unrealized Losses) (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) item	Dec. 31, 2021 USD ($) item
Held-to-maturity Securities
Number of securities of one issuer | item	0	0
Impairment loss	$ 0	$ 0
Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	256,987	477,140
Less than 12 Months, Unrealized/Unrecognized Losses	(31,738)	(11,075)
12 months or more, Estimated Fair Value	208,674	53,509
12 months or more, Unrealized/Unrecognized Losses	(30,674)	(1,751)
Total, Estimated Fair Value	465,661	530,649
Total, Unrealized/Unrecognized Losses	(62,412)	(12,826)
Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	457,917	319,632
Less than 12 Months, Unrealized/Unrecognized Losses	(44,823)	(2,401)
Total, Estimated Fair Value	457,917	319,632
Total, Unrealized Losses	(44,823)	(2,401)
Residential MBS | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	244,366	423,686
Less than 12 Months, Unrealized/Unrecognized Losses	(30,483)	(9,727)
12 months or more, Estimated Fair Value	130,955	12,931
12 months or more, Unrealized/Unrecognized Losses	(21,792)	(738)
Total, Estimated Fair Value	375,321	436,617
Total, Unrealized/Unrecognized Losses	(52,275)	(10,465)
Residential MBS | Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	409,189	301,896
Less than 12 Months, Unrealized/Unrecognized Losses	(39,662)	(2,259)
Total, Estimated Fair Value	409,189	301,896
Total, Unrealized Losses	(39,662)	(2,259)
Commercial MBS | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	2,639	11,202
Less than 12 Months, Unrealized/Unrecognized Losses	(26)	(296)
12 months or more, Estimated Fair Value	12,345	3,511
12 months or more, Unrealized/Unrecognized Losses	(1,424)	(83)
Total, Estimated Fair Value	14,984	14,713
Total, Unrealized/Unrecognized Losses	(1,450)	(379)
Commercial MBS | Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	7,210	8,039
Less than 12 Months, Unrealized/Unrecognized Losses	(911)	(99)
Total, Estimated Fair Value	7,210	8,039
Total, Unrealized Losses	(911)	(99)
Asset-backed Securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	4,111	4,613
Less than 12 Months, Unrealized/Unrecognized Losses	(213)	(22)
Total, Estimated Fair Value	4,111	4,613
Total, Unrealized/Unrecognized Losses	(213)	(22)
U.S. Government agency securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value		29,267
Less than 12 Months, Unrealized/Unrecognized Losses		(730)
12 months or more, Estimated Fair Value	61,579	37,067
12 months or more, Unrealized/Unrecognized Losses	(6,416)	(930)
Total, Estimated Fair Value	61,579	66,334
Total, Unrealized/Unrecognized Losses	(6,416)	(1,660)
U.S. State and Municipal securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	5,871	8,372
Less than 12 Months, Unrealized/Unrecognized Losses	(1,016)	(300)
12 months or more, Estimated Fair Value	3,795
12 months or more, Unrealized/Unrecognized Losses	(1,042)
Total, Estimated Fair Value	9,666	8,372
Total, Unrealized/Unrecognized Losses	(2,058)	(300)
U.S. State and Municipal securities | Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	13,338
Less than 12 Months, Unrealized/Unrecognized Losses	(2,598)
Total, Estimated Fair Value	13,338
Total, Unrealized Losses	(2,598)
US Treasury Securities | Held-to-maturity Securities
Held-to-maturity Securities
Less than 12 Months, Estimated Fair Value	28,180	9,697
Less than 12 Months, Unrealized/Unrecognized Losses	(1,652)	(43)
Total, Estimated Fair Value	28,180	9,697
Total, Unrealized Losses	$ (1,652)	$ (43)

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loan Receivables) (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 4,386,101,000		$ 3,739,527,000
Deferred fees, net of origination costs	(10,936,000)		(7,598,000)
Loans, net of deferred fees and costs	4,375,165,000		3,731,929,000
Allowance for loan losses	(40,534,000)	$ (38,134,000)	(34,729,000)	$ (37,377,000)	$ (35,502,000)	$ (35,407,000)
Net loans	4,334,631,000		3,697,200,000
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	3,577,767,000		3,052,626,000
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	780,677,000		654,535,000
Allowance for loan losses	(9,144,000)	(8,488,000)	(7,708,000)	(10,545,000)	(10,827,000)	(12,123,000)
Loan held for sale	10,000,000		4,100,000
Commercial and industrial | Paycheck Protection Program loans
Loans and Leases Receivable Disclosure [Line Items]
Net loans	125,000		561,000
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans	27,657,000		32,366,000
Allowance for loan losses	(217,000)	(237,000)	(404,000)	(1,774,000)	(1,717,000)
Commercial | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	2,922,190,000		2,488,382,000
Allowance for loan losses	(25,945,000)	(24,720,000)	(22,216,000)	(20,299,000)	(18,341,000)	(17,243,000)
Construction | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	185,661,000		151,791,000
Allowance for loan losses	(2,587,000)	(2,329,000)	(2,105,000)	(1,972,000)	(1,707,000)	(1,593,000)
Consumer.
Loans and Leases Receivable Disclosure [Line Items]
Allowance for loan losses				(1,774,000)		(1,581,000)
Multifamily | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	418,726,000		355,290,000
Allowance for loan losses	(2,539,000)	(2,256,000)	(2,156,000)	(2,618,000)	(2,732,000)	(2,661,000)
One to four family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	51,190,000		57,163,000
Allowance for loan losses	$ (102,000)	$ (104,000)	$ (140,000)	$ (169,000)	$ (178,000)	$ (206,000)

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Activity in the Allowance for Loan Losses by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 38,134	$ 35,502	$ 34,729	$ 35,407
Provision /(credit) for loan losses	2,400	1,875	5,800	2,825
Loans charged-off	0	0		(855)
Recoveries			5
Total ending allowance balance	40,534	37,377	40,534	37,377
Net charge-offs			5,000	855,000
Consumer.
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				1,581
Provision /(credit) for loan losses				193
Total ending allowance balance		1,774		1,774
Real estate | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	24,720	18,341	22,216	17,243
Provision /(credit) for loan losses	1,225	1,958	3,729	3,056
Total ending allowance balance	25,945	20,299	25,945	20,299
Real estate | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,329	1,707	2,105	1,593
Provision /(credit) for loan losses	258	265	482	379
Total ending allowance balance	2,587	1,972	2,587	1,972
Real estate | Multifamily
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,256	2,732	2,156	2,661
Provision /(credit) for loan losses	283	(114)	383	(43)
Total ending allowance balance	2,539	2,618	2,539	2,618
Real estate | One to four family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	104	178	140	206
Provision /(credit) for loan losses	(2)	(9)	(38)	(37)
Total ending allowance balance	102	169	102	169
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	8,488	10,827	7,708	12,123
Provision /(credit) for loan losses	656	(282)	1,436	(723)
Loans charged-off				(855)
Total ending allowance balance	9,144	10,545	9,144	10,545
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	237	1,717	404
Provision /(credit) for loan losses	(20)	57	(192)
Recoveries			5
Total ending allowance balance	$ 217	$ 1,774	$ 217	$ 1,774

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Impairment Method) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	$ 24		$ 196
Collectively evaluated for impairment, Allowance for loan losses	40,510		34,533
Total ending allowance balance	40,534	$ 38,134	34,729	$ 37,377	$ 35,502	$ 35,407
Individually evaluated for impairment, Loans	29,494		39,766
Collectively evaluated for impairment, Loans	4,356,607		3,699,761
Total ending loan balance	4,386,101		3,739,527
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total ending loan balance	3,577,767		3,052,626
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	25,945		22,216
Total ending allowance balance	25,945	24,720	22,216	20,299	18,341	17,243
Individually evaluated for impairment, Loans	28,549		38,518
Collectively evaluated for impairment, Loans	2,893,641		2,449,864
Total ending loan balance	2,922,190		2,488,382
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	2,587		2,105
Total ending allowance balance	2,587	2,329	2,105	1,972	1,707	1,593
Collectively evaluated for impairment, Loans	185,661		151,791
Total ending loan balance	185,661		151,791
Real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	2,539		2,156
Total ending allowance balance	2,539	2,256	2,156	2,618	2,732	2,661
Collectively evaluated for impairment, Loans	418,726		355,290
Total ending loan balance	418,726		355,290
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses			26
Collectively evaluated for impairment, Allowance for loan losses	102		114
Total ending allowance balance	102	104	140	169	178	206
Individually evaluated for impairment, Loans	921		946
Collectively evaluated for impairment, Loans	50,269		56,217
Total ending loan balance	51,190		57,163
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	9,144		7,708
Total ending allowance balance	9,144	8,488	7,708	10,545	10,827	$ 12,123
Collectively evaluated for impairment, Loans	780,677		654,535
Total ending loan balance	780,677		654,535
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	24		170
Collectively evaluated for impairment, Allowance for loan losses	193		234
Total ending allowance balance	217	$ 237	404	$ 1,774	$ 1,717
Individually evaluated for impairment, Loans	24		302
Collectively evaluated for impairment, Loans	27,633		32,064
Total ending loan balance	$ 27,657		$ 32,366

LOANS AND ALLOWANCE FOR LOAN _6

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Impaired by Class of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
With an allowance recorded:
Unpaid Principal Balance	$ 24		$ 24		$ 879
Recorded Investment	24		24		749
Allowance for Loan Losses Allocated	24		24		196
Average Recorded Investment	24	$ 5,750	117	$ 6,123
Interest Income Recognized		33		70
Without an allowance recorded:
Unpaid Principal Balance	29,747		29,747		39,164
Recorded Investment	29,470		29,470		39,017
Average Recorded Investment	29,441	11,042	32,633	10,983
Interest Income Recognized	275	44	514	217
Real estate | One to four family
With an allowance recorded:
Unpaid Principal Balance					577
Recorded Investment					447
Allowance for Loan Losses Allocated					26
Average Recorded Investment		465		470
Interest Income Recognized		4		12
Without an allowance recorded:
Unpaid Principal Balance	1,197		1,197		646
Recorded Investment	921		921		499
Average Recorded Investment	927	511	784	514
Interest Income Recognized	9	7	18	13
Real estate | Commercial
Without an allowance recorded:
Unpaid Principal Balance	28,550		28,550		38,518
Recorded Investment	28,549		28,549		38,518
Average Recorded Investment	28,514	10,339	31,849	10,341
Interest Income Recognized	266	37	496	204
Commercial and industrial
With an allowance recorded:
Average Recorded Investment		3,145		3,494
Without an allowance recorded:
Average Recorded Investment		192		128
Consumer
With an allowance recorded:
Unpaid Principal Balance	24		24		302
Recorded Investment	24		24		302
Allowance for Loan Losses Allocated	24		24		$ 170
Average Recorded Investment	$ 24	2,140	$ 117	2,159
Interest Income Recognized		$ 29		$ 58

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Non-accrual Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	$ 24	$ 10,021
Loans Past Due Over 90 Days Still Accruing	0	265
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual		9,984
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	24	37
Loans Past Due Over 90 Days Still Accruing	$ 0	$ 265

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Past Due Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	$ 4,386,101	$ 3,739,527
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	143	244
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	15	94
90 days and greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	24	10,286
Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	182	10,624
Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	4,385,919	3,728,903
Real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	3,577,767	3,052,626
Real estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	2,922,190	2,488,382
Real estate | Commercial | 90 days and greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans		9,984
Real estate | Commercial | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans		9,984
Real estate | Commercial | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	2,922,190	2,478,398
Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	185,661	151,791
Real estate | Construction | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	185,661	151,791
Real estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	418,726	355,290
Real estate | Multifamily | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	418,726	355,290
Real estate | One to four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	51,190	57,163
Real estate | One to four family | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	51,190	57,163
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	780,677	654,535
Commercial and industrial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	95	151
Commercial and industrial | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	95	151
Commercial and industrial | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	780,582	654,384
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	27,657	32,366
Consumer | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	48	93
Consumer | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	15	94
Consumer | 90 days and greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	24	302
Consumer | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	87	489
Consumer | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans	$ 27,570	$ 31,877

LOANS AND ALLOWANCE FOR LOAN _9

LOANS AND ALLOWANCE FOR LOAN LOSSES (Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) loan	Jun. 30, 2021 loan	Jun. 30, 2022 USD ($) loan item	Jun. 30, 2021 loan item	Dec. 31, 2021 USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	$ 1,255		$ 1,255		$ 1,288
Number of TDR loans during the period | loan	0	0	0	0
Number of contracts financing receivable modifications | item			0	0
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	$ 334		$ 334		342
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	$ 921		$ 921		$ 946

LOANS AND ALLOWANCE FOR LOAN_10

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Risk Category) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 4,386,101	$ 3,739,527
Commercial Construction and Multifamily Real Estate Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	4,307,254	3,649,998
Commercial Construction and Multifamily Real Estate Loans [Member] | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	4,274,818	3,603,196
Commercial Construction and Multifamily Real Estate Loans [Member] | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	4,221	4,519
Commercial Construction and Multifamily Real Estate Loans [Member] | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	28,215	42,283
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	3,577,767	3,052,626
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,922,190	2,488,382
Real estate | Commercial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,893,641	2,449,864
Real estate | Commercial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	334	342
Real estate | Commercial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	28,215	38,176
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	185,661	151,791
Real estate | Construction | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	185,661	151,791
Real estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	418,726	355,290
Real estate | Multifamily | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	418,726	355,290
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	780,677	654,535
Commercial and industrial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	776,790	646,251
Commercial and industrial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 3,887	4,177
Commercial and industrial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		$ 4,107

LOANS AND ALLOWANCE FOR LOAN_11

LOANS AND ALLOWANCE FOR LOAN LOSSES (COVID-19 Loan Modifications) (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 loan item	Jun. 30, 2021 loan	Jun. 30, 2022 USD ($) loan item	Jun. 30, 2021 loan	Dec. 31, 2021 USD ($) loan
Financing Receivable, Impaired [Line Items]
Financing Receivable, Modifications, Number of Contracts | loan	0	0	0	0
Percentage of Loans and Leases Receivable, Modified			1.07%
COVID 19 - Impact
Financing Receivable, Impaired [Line Items]
Number of total loans modified	6		6		8
Loan Restructuring, Trial Modifications, Amount			$ 47		$ 48.9
Percentage of Loans and Leases Receivable, Modified					1.31%
COVID 19 - Impact | Principal Payment Deferrals
Financing Receivable, Impaired [Line Items]
Loan Restructuring, Trial Modifications, Amount			$ 47.1		$ 39.1
Percentage of Loans and Leases Receivable, Modified			1.07%		1.05%
COVID 19 - Impact | Full Payment Deferrals
Financing Receivable, Impaired [Line Items]
Loan Restructuring, Trial Modifications, Amount			$ 0		$ 9.9
Percentage of Loans and Leases Receivable, Modified					0.26%

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022
Federal Home Loan Bank, Advances [Line Items]
Redemption of subordinated debt		$ 24,712
Subordinated Debt
Federal Home Loan Bank, Advances [Line Items]
Redemption of subordinated debt	$ 25,000
Maturity date	Mar. 15, 2027
Interest rate	6.25%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Stockholders Equity Note [Line Items]
Common stock, shares outstanding		10,931,697	10,920,569
Class B Preferred Stock
Stockholders Equity Note [Line Items]
Preferred stock, shares authorized		2,000,000
Preferred stock, par value		$ 0.01
Preferred stock, shares issued		0
Series F, Class B Non-voting Preferred Stock
Stockholders Equity Note [Line Items]
Preferred stock exchanged			272,636
Common Stock
Stockholders Equity Note [Line Items]
Issuance of Common Stock, net of issuance costs (in shares)	2,300,000
Stock price	$ 75
Gross proceed	$ 172.5
Proceeds from issuance of common stock, net	$ 162.7
Common stock, shares outstanding	10,600,000			8,300,000

EARNINGS PER SHARE (Computation

EARNINGS PER SHARE (Computation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic
Net income	$ 23,189	$ 13,336	$ 42,210	$ 25,453
Less: Earnings allocated to participating securities	(63)	(84)	(85)	(106)
Net income available to common stockholders	$ 23,126	$ 13,252	$ 42,125	$ 25,347
Weighted average common shares outstanding including participating securities	10,961,697	8,343,946	10,947,829	8,329,003
Less: Weighted average participating securities	(30,000)	(31,712)	(22,111)	(34,599)
Weighted average common shares outstanding	10,931,697	8,312,234	10,925,718	8,294,404
Basic earnings per common share (in dollars per share)	$ 2.12	$ 1.59	$ 3.86	$ 3.06
Diluted
Net income allocated to common shareholders	$ 23,126	$ 13,252	$ 42,125	$ 25,347
Weighted average common shares outstanding for basic earnings per common share	10,931,697	8,312,234	10,925,718	8,294,404
Average shares and dilutive potential common shares	11,189,807	8,543,474	11,208,992	8,496,945
Diluted earnings per common share (in dollars per share)	$ 2.07	$ 1.55	$ 3.76	$ 2.98
Stock Option
Diluted
Add: Dilutive effects of assumed exercise of stock options	180,787	162,674	186,364	153,545
Performance-Based Restricted Stock Units (PRSUs)
Diluted
Dilutive effects of assumed vesting units	52,004	38,495	63,980	31,613
Restricted stock awards
Calculations of basic and diluted earnings per share
Number of antidilutive shares not considered in computing diluted earnings per share		105,424	234,332	105,424
Diluted
Dilutive effects of assumed vesting units	25,319	30,071	32,930	17,383

STOCK COMPENSATION PLAN (Summar

STOCK COMPENSATION PLAN (Summary of the Status of the Stock Option Plan) (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Options
Outstanding, beginning of year | shares	231,000
Outstanding, end of year | shares	231,000
Options vested and exercisable at year-end | shares	231,000
Weighted Average Exercise Price
Outstanding, beginning of year | $ / shares	$ 18
Outstanding, end of year | $ / shares	18
Options vested and exercisable at year-end | $ / shares	$ 18
Weighted average remaining contractual life (years)	1 year 10 months 17 days

STOCK COMPENSATION PLAN (Summ_2

STOCK COMPENSATION PLAN (Summary of Stock Options Outstanding) (Details) - $10 - 30	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	$ 10
Range of Average Exercise Prices, Upper Limit	$ 30
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	1 year 10 months 17 days
Weighted Average Exercise Price	$ 18
Weighted Average Intrinsic Price	$ 83.77

STOCK COMPENSATION PLAN (Summ_3

STOCK COMPENSATION PLAN (Summary of Non-Vested Restricted Stock Awards) (Details) - Restricted stock awards	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Outstanding, beginning of period | shares	90,999
Number of shares, Granted | shares	83,151
Number of shares, Forfeited | shares	(200)
Number of shares, Vested | shares	(29,818)
Number of shares, Outstanding at end of period | shares	144,132
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date fair Value, beginning of period | $ / shares	$ 47.35
Weighted Average Grant Date fair Value, Granted | $ / shares	102.49
Weighted Average Grant Date fair Value, Forfeited | $ / shares	80.34
Weighted Average Grant Date fair Value, Vested | $ / shares	44.47
Weighted Average Grant Date fair Value, at end of period | $ / shares	$ 79.70

STOCK COMPENSATION PLAN (Detail

STOCK COMPENSATION PLAN (Details) - USD ($)	1 Months Ended		3 Months Ended				6 Months Ended
	Jan. 31, 2022	Jan. 31, 2019	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2018	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares			231,000				231,000		231,000
Remaining unrecognized compensation expense recognition period							2 years 5 months 8 days
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized			$ 478,000				$ 951,000
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			8,600,000				8,600,000
Compensation cost related to stock awards			$ 1,300,000	$ 811,000			$ 2,000,000	$ 1,300,000
Number of shares, Granted							83,151
Number of PRSUs forfeited							200
Restricted stock awards | Key Personnel
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted			83,151		78,582
Vesting period							3 years
Restricted stock awards | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			$ 595,000				$ 595,000
Compensation cost related to stock awards			297,000	$ 90,000			595,000	$ 200,000
Number of shares, Granted	11,126	38,900
Service period (in years)		3 years
Performance-Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years		3 years
Number of PRSUs awarded						90,000		90,000
Weighted average service inception date fair value of award share in amount			$ 6,000,000
Fair value of shares vested							$ 30,000
Equity Incentive Plan 2019 | Performance-Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of PRSUs awarded				90,000
Equity Incentive Plan 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, shares authorized, maximum			358,000				358,000
Compensation cost related to stock awards							$ 0	$ 0
Equity Incentive Plan 2022 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the exercise price to the fair market value of the shares covered by the stock option on the date of grant in the case of an ISO granted to 10% stockholder							110%
Equity Incentive Plan 2022 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date							5 years
Equity Incentive Plan 2022 | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			$ 0				$ 0		$ 0
Equity Incentive Plan 2022 | Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of exercise price to the fair market value							100%
Equity Incentive Plan 2022 | Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date							10 years
Equity Incentive Plan 2022 | Performance-Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of PRSUs forfeited			20,800

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 998,508	$ 950,996
Amount of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2	0		$ 0
Fair value assets measured at fair value on a non-recurring basis	0	0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value liability	0
Carrying Amount | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	61,579	66,334
Carrying Amount | U.S. State and Municipal securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	9,666	11,499
Carrying Amount | Residential MBS | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	375,321	466,551
Carrying Amount | Commercial MBS | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	14,984	17,627
Carrying Amount | Asset-backed Securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	4,111	4,613
Carrying Amount | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,107	2,273
Carrying Amount | Derivative assets - interest rate cap | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	14,410	3,385
Fair Value, Inputs, Level 1 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,107	2,273
Fair Value, Inputs, Level 2 | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	61,579	66,334
Fair Value, Inputs, Level 2 | U.S. State and Municipal securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	9,666	11,499
Fair Value, Inputs, Level 2 | Residential MBS | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	375,321	466,551
Fair Value, Inputs, Level 2 | Commercial MBS | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	14,984	17,627
Fair Value, Inputs, Level 2 | Asset-backed Securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	4,111	4,613
Fair Value, Inputs, Level 2 | Derivative assets - interest rate cap | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 14,410	$ 3,385

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Carrying Amount and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial assets:
Securities available for sale	$ 465,661	$ 566,624
Securities held to maturity	486,000	380,100
Financial liabilities:
Noninterest-bearing demand deposits	3,470,325	3,668,673
Carrying Amount
Financial assets:
Cash and due from banks	33,143	28,864
Overnight deposits	1,308,738	2,330,486
Securities held to maturity	530,740	382,099
Loans, net	4,334,631	3,697,200
Other investments
FRB Stock	11,421	7,430
FHLB Stock	4,438	3,070
Disability Fund	1,000	1,000
Time deposits at banks	498
CRA - CD		498
Receivables from prepaid card programs, net	68,214	39,864
Accrued interest receivable	18,203	15,195
Financial liabilities:
Noninterest-bearing demand deposits	3,470,325	3,668,673
Money market and savings deposits	2,651,675	2,687,913
Time deposits	56,400	78,986
Trust preferred securities payable	20,620	20,620
Subordinated debt, net of issuance cost		24,712
Prepaid debit cardholder balances	23,531	8,847
Accrued interest payable	367	746
Secured Borrowings	32,044	32,461
Total Fair Value
Financial assets:
Cash and due from banks	33,143	28,864
Overnight deposits	1,308,738	2,330,486
Securities held to maturity	485,988	380,108
Loans, net	4,369,905	3,721,619
Other investments
Disability Fund	1,000	1,000
Time deposits at banks	498
CRA - CD		498
Receivables from prepaid card programs, net	68,214	39,864
Accrued interest receivable	18,203	15,195
Financial liabilities:
Noninterest-bearing demand deposits	3,470,325	3,668,673
Money market and savings deposits	2,651,675	2,687,913
Time deposits	55,361	79,187
Trust preferred securities payable	19,936	19,997
Subordinated debt, net of issuance cost		25,125
Prepaid debit cardholder balances	23,531	8,847
Accrued interest payable	367	746
Secured Borrowings	32,044	32,507
Fair Value, Inputs, Level 1
Financial assets:
Cash and due from banks	33,143	28,864
Overnight deposits	1,308,738	2,330,486
Other investments
Time deposits at banks	498
CRA - CD		498
Financial liabilities:
Noninterest-bearing demand deposits	3,470,325	3,668,673
Money market and savings deposits	2,651,675	2,687,913
Accrued interest payable	4	5
Fair Value, Inputs, Level 2
Financial assets:
Securities held to maturity	485,988	380,108
Other investments
Disability Fund	1,000	1,000
Accrued interest receivable	860	892
Financial liabilities:
Time deposits	55,361	79,187
Subordinated debt, net of issuance cost		25,125
Accrued interest payable	208	633
Secured Borrowings	32,044	32,507
Fair Value, Inputs, Level 3
Financial assets:
Loans, net	4,369,905	3,721,619
Other investments
Receivables from prepaid card programs, net	68,214	39,864
Accrued interest receivable	17,343	14,303
Financial liabilities:
Trust preferred securities payable	19,936	19,997
Prepaid debit cardholder balances	23,531	8,847
Accrued interest payable	$ 155	$ 108

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	$ (10,442)	$ (6,229)	$ (17,461)	$ (11,856)
Total reclassifications, net of income tax			$ 42,210	25,453
Reclassifications out of accumulated other comprehensive (loss) income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on sale of AFS securities		609		609
Income tax benefit		(195)		(195)
Total reclassifications, net of income tax		$ 414		$ 414

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Outstanding following off-balance-sheet financial instruments) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	$ 93,449	$ 89,664
Variable Rate	350,121	346,115
Unused commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	38,124,000	39,676,000
Variable Rate	350,121,000	346,115,000
Standby and commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	55,325,000	49,988,000
Variable Rate	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 93,449	$ 89,664
Maturity of stand by letters of credit and time deposits	one year
Minimum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	3%	3%
Variable interest rate off-balance-sheet financial instrument	3.80%	2%
Commitments term	1 year	1 year
Maximum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	6%	5.60%
Variable interest rate off-balance-sheet financial instrument	8.80%	8.30%
Commitments term	2 years
Standby and commercial letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 55,325,000	$ 49,988,000
Amount of off-balance-sheet financial instruments collateral received	$ 29,700,000	$ 29,600,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of non-interest income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Non-interest income	$ 7,071	$ 5,543	$ 14,604	$ 10,176
Service charges on deposit accounts
Non-interest income	1,474	1,126	2,844	2,098
Global payments revenue
Non-interest income	5,242	3,851	10,899	7,210
Other service charges and fees
Non-interest income	$ 355	$ 566	$ 861	$ 868

DERIVATIVES - Derivative positi

DERIVATIVES - Derivative position (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest rate caps related to customer deposits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount, derivative asset			$ 300,000
Derivatives designated as hedging instruments | Interest rate caps related to customer deposits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount, derivative asset	$ 300,000	$ 300,000
Fair value	14,410	3,385
Derivatives designated as hedging instruments | Other assets.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount, derivative asset	300,000	300,000
Fair value	$ 14,410	$ 3,385

DERIVATIVES - Cash flow hedge a

DERIVATIVES - Cash flow hedge accounting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivatives designated as hedging instruments | Interest rate caps related to customer deposits | Cash flow hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) recognized in OCI, net of tax	$ 1,677	$ (382)	$ 7,764	$ 1,166