Investors Bancorp (ISBC) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-36441
Entity Registrant Name	Investors Bancorp , Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4702118
Entity Address, Street Address	101 JFK Parkway,
Entity Address, City	Short Hills,
Entity Address, State	NJ
Entity Address, Postal Zip Code	07078
City Area Code	973
Local Phone Number	924-5100
Title of each class	Common
Trading Symbol(s)	ISBC
Name of each exchange on which registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		247,670,106
Entity Central Index Key	0001594012
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 173,273	$ 170,432
Equity securities	25,727	36,000
Debt securities available-for-sale, at estimated fair value	2,682,938	2,758,437
Debt securities held-to-maturity, net (estimated fair value of $1,243,268 and $1,320,872 at March 31, 2021 and December 31, 2020, respectively)	1,191,771	1,247,853
Loans receivable, net	20,572,661	20,580,451
Loans held-for-sale	1,378	30,357
Federal Home Loan Bank stock	177,351	159,829
Accrued interest receivable	81,567	79,705
Other real estate owned and other repossessed assets	6,311	7,115
Office properties and equipment, net	136,893	139,663
Operating lease right-of-use assets	195,130	199,981
Net deferred tax asset	101,993	116,805
Bank owned life insurance	225,199	223,714
Goodwill and intangible assets	110,180	109,633
Other assets	140,517	163,184
Total assets	25,822,889	26,023,159
Liabilities:
Deposits	18,991,028	19,525,419
Borrowed funds	3,558,324	3,295,790
Advance payments by borrowers for taxes and insurance	140,949	115,729
Operating lease liabilities	207,653	212,559
Other liabilities	154,383	163,659
Total liabilities	23,052,337	23,313,156
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 authorized shares; none issued	0	0
Common stock, $0.01 par value, 1,000,000,000 shares authorized; 361,869,872 issued at March 31, 2021 and December 31, 2020; 247,648,543 and 247,929,216 outstanding at March 31, 2021 and December 31, 2020, respectively	3,619	3,619
Additional paid-in capital	2,860,045	2,858,663
Retained earnings	1,376,774	1,339,003
Treasury stock, at cost; 114,221,329 and 113,940,656 shares at March 31, 2021 and December 31, 2020, respectively	(1,378,858)	(1,375,996)
Unallocated common stock held by the employee stock ownership plan	(74,521)	(75,270)
Accumulated other comprehensive loss	(16,507)	(40,016)
Total stockholders’ equity	2,770,552	2,710,003
Total liabilities and stockholders’ equity	$ 25,822,889	$ 26,023,159
Common stock, shares issued (shares)	361,869,872	361,869,872

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Debt securities held-to-maturity, estimated fair value	$ 1,243,268	$ 1,320,872
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	100,000,000	100,000,000
Preferred stock, shares issued (shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (shares)	361,869,872	361,869,872
Common stock, shares outstanding (shares)	247,648,543	247,929,216
Treasury stock (shares)	114,221,329	113,940,656

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest and dividend income:
Loans receivable and loans held-for-sale	$ 198,750	$ 224,529
Securities:
Equity	266	33
Government-sponsored enterprise obligations	526	306
Mortgage-backed securities	15,202	22,584
Municipal bonds and other debt	3,539	3,375
Interest-bearing deposits	61	840
Federal Home Loan Bank stock	2,200	4,432
Total interest and dividend income	220,544	256,099
Interest expense:
Deposits	21,192	53,179
Borrowed funds	18,617	29,637
Total interest expense	39,809	82,816
Net interest income	180,735	173,283
Provision for credit losses	(2,972)	31,226
Net interest income after provision for credit losses	183,707	142,057
Non-interest income
Fees and service charges	5,848	6,026
Income on bank owned life insurance	1,952	1,396
Gain on loans, net	3,833	1,846
Gain on securities, net	651	202
Gain on sale of other real estate owned, net	77	740
Other income	7,642	4,450
Total non-interest income	20,003	14,660
Non-interest expense
Compensation and fringe benefits	62,427	60,392
Advertising and promotional expense	2,229	2,363
Office occupancy and equipment expense	18,073	15,951
Federal deposit insurance premiums	3,400	4,401
General and administrative	379	534
Professional fees	2,929	3,983
Data processing and communication	9,136	7,792
Other operating expenses	5,788	7,142
Total non-interest expenses	104,361	102,558
Income before income tax expense	99,349	54,159
Income tax expense	27,074	14,647
Net income	$ 72,275	$ 39,512
Basic earnings per share (usd per share)	$ 0.31	$ 0.17
Diluted earnings per share (usd per share)	$ 0.31	$ 0.17
Weighted average shares outstanding
Basic (shares)	234,661,847	233,262,860
Diluted (shares)	235,379,381	233,632,841

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 72,275	$ 39,512
Other comprehensive income (loss), net of tax:
Change in funded status of retirement obligations	121	20
Unrealized (losses) gains on debt securities available-for-sale	(18,320)	37,628
Accretion of loss on debt securities reclassified to held-to-maturity	31	56
Reclassification adjustment for security gains included in net income	(299)	0
Other-than-temporary impairment accretion on debt securities recorded prior to January 1, 2020	179	180
Net gains (losses) on derivatives	41,797	(70,648)
Total other comprehensive income (loss)	23,509	(32,764)
Total comprehensive income	$ 95,784	$ 6,748

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Adjustment	Adjusted Balance	Common stock	Common stockAdjusted Balance	Additional paid-in capital	Additional paid-in capitalAdjusted Balance	Retained earnings	Retained earningsAdjustment	Retained earningsAdjusted Balance	Treasury stock	Treasury stockAdjusted Balance	Unallocated common stock held by ESOP	Unallocated common stock held by ESOPAdjusted Balance	Accumulated other comprehensive loss	Accumulated other comprehensive lossAdjusted Balance
Balance, beginning of period at Dec. 31, 2019	$ 2,621,950	$ (8,491)	$ 2,613,459	$ 3,591	$ 3,591	$ 2,822,364	$ 2,822,364	$ 1,245,793	$ (8,491)	$ 1,237,302	$ (1,352,910)	$ (1,352,910)	$ (78,266)	$ (78,266)	$ (18,622)	$ (18,622)
Increase (Decrease) in Stockholders' Equity
Net income	39,512							39,512
Other comprehensive loss, net of tax	(32,764)														(32,764)
Purchase of treasury stock	(932)										(932)
Treasury stock allocated to restricted stock plan	0					(700)		(90)			790
Compensation cost for stock options and restricted stock	3,896					3,896
Restricted stock forfeitures	0					197		(3)			(194)
Cash dividend paid	(29,693)							(29,693)
ESOP shares allocated or committed to be released	1,280					531							749
Balance, end of period at Mar. 31, 2020	2,594,758			3,591		2,826,288		1,247,028			(1,353,246)		(77,517)		(51,386)
Balance, beginning of period at Dec. 31, 2020	2,710,003			3,619		2,858,663		1,339,003			(1,375,996)		(75,270)		(40,016)
Increase (Decrease) in Stockholders' Equity
Net income	72,275							72,275
Other comprehensive loss, net of tax	23,509														23,509
Purchase of treasury stock	(7,615)										(7,615)
Treasury stock allocated to restricted stock plan	0					(2,814)		136			2,678
Compensation cost for stock options and restricted stock	3,460					3,460
Exercise of stock options	2,035					(141)					2,176
Restricted stock forfeitures	0					107		(6)			(101)
Cash dividend paid	(34,634)							(34,634)
ESOP shares allocated or committed to be released	1,519					770							749
Balance, end of period at Mar. 31, 2021	$ 2,770,552			$ 3,619		$ 2,860,045		$ 1,376,774			$ (1,378,858)		$ (74,521)		$ (16,507)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock (shares)	664,276	84,389
Treasury stock allocated to restricted stock plan (shares)	216,343	64,923
Restricted stock forfeitures (shares)	8,567	15,973
Cash dividend paid (usd per share)	$ 0.14	$ 0.12

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 72,275	$ 39,512
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
ESOP and stock-based compensation expense	4,979	5,176
Amortization of premiums and accretion of discounts on securities, net	2,422	2,204
Amortization of premiums and accretion of fees and costs on loans, net	2,511	(316)
Amortization of other intangible assets	251	286
Amortization of debt modification costs and premium on borrowings	534	591
Provision for credit losses	(2,972)	31,226
Depreciation and amortization of office properties and equipment	5,502	5,279
Gain on securities, net	(651)	(202)
Mortgage loans originated for sale	(142,551)	(90,738)
Proceeds from mortgage loan sales	175,248	85,802
Gain on sales of mortgage loans, net	(3,719)	(1,579)
Gain on sale of other real estate owned	(77)	(740)
Income on bank owned life insurance	(1,952)	(1,396)
Amortization of lease right-of-use assets	6,359	4,830
(Increase) decrease in accrued interest receivable	(1,862)	862
Deferred tax expense (benefit)	4,171	(829)
Decrease (increase) in other assets	20,829	(47,339)
Increase (decrease) in other liabilities	45,610	(100,282)
Net cash provided by (used in) operating activities	186,907	(67,653)
Cash flows from investing activities:
Purchases of loans receivable	(1,400)	(60,000)
Net (originations) payoffs of loans receivable	(10,255)	450,712
Proceeds from disposition of loans receivable	18,993	12,896
Gain on disposition of loans receivable	(114)	(267)
Gain on disposition of leased equipment	(984)	(266)
Net proceeds from sale of other real estate owned	881	4,510
Proceeds from sales of equity securities	16,542	0
Proceeds from principal repayments/calls/maturities of debt securities available for sale	301,684	167,284
Proceeds from sales of debt securities available for sale	8,171	0
Proceeds from principal repayments/calls/maturities of debt securities held to maturity	82,950	68,414
Purchases of equity securities	(6,017)	(23)
Purchases of debt securities available for sale	(260,383)	0
Purchases of debt securities held-to-maturity	(26,098)	(33,807)
Proceeds from redemptions of Federal Home Loan Bank stock	15,199	58,134
Purchases of Federal Home Loan Bank stock	(32,721)	(60,042)
Purchases of office properties and equipment	(2,732)	(2,865)
Net cash provided by investing activities	103,716	604,680
Cash flows from financing activities:
Net (decrease) increase in deposits	(534,391)	324,288
Repayments of principal under finance leases	(397)	(388)
Net proceeds (repayments) of borrowed funds	262,000	(361,039)
Net increase in advance payments by borrowers for taxes and insurance	25,220	27,842
Dividends paid	(34,634)	(29,693)
Exercise of stock options	2,035	0
Purchase of treasury stock	(7,615)	(932)
Net cash used in financing activities	(287,782)	(39,922)
Net increase in cash and cash equivalents	2,841	497,105
Cash and cash equivalents at beginning of period	170,432	174,915
Cash and cash equivalents at end of period	173,273	672,020
Non-cash investing activities:
Real estate acquired through foreclosure and other assets repossessed	0	0
Cash paid during the year for:
Interest	39,838	83,725
Income taxes	17,800	3,100
Significant non-cash transactions:
Right-of-use assets obtained in exchange for new lease liabilities	$ 2,168	$ 558

Summary of Significant Accounti

Summary of Significant Accounting Principles	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Principles	Summary of Significant Accounting Principles Basis of Presentation The consolidated financial statements are comprised of the accounts of Investors Bancorp, Inc. and its wholly owned subsidiary, Investors Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries (collectively, the “Company”). All significant intercompany transactions have been eliminated in consolidation. In the opinion of management, all the adjustments (consisting of normal and recurring adjustments) necessary for the fair presentation of the consolidated financial condition and the consolidated results of operations for the unaudited periods presented have been included. The results of operations and other data presented for the three months ended March 31, 2021 are not necessarily indicative of the results of operations that may be expected for subsequent periods or the full year results. Certain information and note disclosures usually included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for the preparation of the Form 10-Q. The consolidated financial statements presented 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 December 31, 2020 Annual Report on Form 10-K. Certain reclassifications have been made in the consolidated financial statements to conform with current year classifications. The accounting and reporting policies of the Company conform to U.S. GAAP and to general practice within the financial services industry. A discussion of these policies can be found in Note 1, Summary of Significant Accounting Policies, included in the Company’s 2020 Annual Report on Form 10-K. There have been no changes to the Company’s significant accounting policies since December 31, 2020.

Stock Transactions

Stock Transactions	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stock Transactions	Stock Transactions Stock Repurchase Program On October 25, 2018, the Company announced its fourth share repurchase program, which authorized the purchase of 10% of its publicly-held outstanding shares of common stock, or 28,886,780 shares. The fourth program commenced immediately upon completion of the third program on December 10, 2018. This program has no expiration date and has 12,000,202 shares yet to be repurchased as of March 31, 2021. During the three months ended March 31, 2021, the Company purchased 664,276 shares at a cost of $7.6 million, or $11.46 per share. During the three months ended March 31, 2021, shares repurchased include 39,276 shares purchased in connection with the vesting of shares of restricted stock under our 2015 Equity Incentive Plan for the withholding of shares to pay income taxes. These shares are repurchased pursuant to the terms of the 2015 Equity Incentive Plan and therefore are not part of the Company’s repurchase program.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Business Combinations	Business Combinations Berkshire Bank Branch Acquisition On December 2, 2020, Investors Bancorp announced the signing of a definitive purchase and assumption agreement under which Investors Bancorp’s wholly-owned subsidiary, Investors Bank, will acquire the eight New Jersey and eastern Pennsylvania branches of Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, including the assumption and acquisition of approximately $639 million of deposits and $308 million of consumer and commercial loans. Completion of the transaction is awaiting receipt of all regulatory approvals. The transaction is not reflected in the Consolidated Financial Statements as of March 31, 2021. Gold Coast Bancorp As of the close of business on April 3, 2020, the Company completed its acquisition of Gold Coast Bancorp (“Gold Coast”) pursuant to the Agreement and Plan of Merger, dated as of July 24, 2019 by and between the Company and Gold Coast. As a result of the completion of the acquisition, the Company issued approximately 2.8 million shares to the former stockholders of Gold Coast and paid approximately $31.0 million in cash to the former stockholders of Gold Coast. Under the terms of the merger agreement, 50% of the common shares of Gold Coast were converted into Investors Bancorp common stock and the remaining 50% was exchanged for cash. For each share of Gold Coast Bancorp common stock, Gold Coast shareholders were given an option to receive either (i) 1.422 shares of Investors Bancorp common stock, $0.01 par value per share, (ii) a cash payment of $15.75, or (iii) a combination of Investors Bancorp common stock and cash. The foregoing was subject to proration to ensure that, in the aggregate, 50% of Gold Coast’s shares would be converted into Investors Bancorp common stock. The acquisition was accounted for under the acquisition method of accounting as prescribed by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 “Business Combinations”, as amended. Under this method of accounting, the purchase price has been allocated to the respective assets acquired based on their estimated fair values, net of applicable income tax effects. The excess cost over fair value of assets acquired, or $12.0 million, has been recorded as goodwill. The acquired portfolio was fair valued on the date of acquisition based on guidance from ASC 820-10 which defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The valuation methods utilized took into consideration adjustments for interest rate risk, funding cost, servicing cost, residual risk, credit and liquidity risk. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for Gold Coast, net of cash consideration paid: At April 3, 2020 (In millions) Cash and cash equivalents $ 7.3 Debt securities available-for-sale 51.5 Debt securities held to maturity 8.4 Loans receivable, net 443.5 Accrued interest receivable 1.3 Right-of-use assets 3.7 Net deferred tax asset 3.9 Intangible assets 14.5 Other assets 1.2 Total assets acquired 535.3 Deposits 489.9 Borrowed funds 14.9 Other liabilities 9.7 Total liabilities assumed 514.5 Net assets acquired $ 20.8 As the Company finalizes its analysis of these assets, there may be adjustments to the recorded carrying values. Any adjustments to carrying values will be recorded in goodwill. The calculation of goodwill is subject to change for up to one year after closing date of the transaction as additional information relative to closing date estimates and uncertainties becomes available. As of March 31, 2021, there has been no change to the amount of goodwill recorded for this acquisition. Financial assets acquired in a business combination after January 1, 2020 are recorded in accordance with ASC Topic 326, after which acquired assets are separated into two types. PCD assets are acquired assets that, as of the acquisition date, have experienced a more-than-insignificant deterioration in credit quality since origination. Non-PCD assets are acquired assets that have experienced no or insignificant deterioration in credit quality since origination. To distinguish between the two types of acquired assets, the Company evaluates risk characteristics that have been determined to be indicators of deteriorated credit quality. In the case of loans, the determining criteria may involve general characteristics, such as loan payment history or changes in creditworthiness since the loan was originated, while others are relevant to recent economic conditions, such as borrowers in industries impacted by the pandemic. In its acquisition of Gold Coast, the Company has purchased loans which have been determined to be PCD. The carrying amount of those loans was as follows: At April 3, 2020 (In millions) Purchase price of loans at acquisition $ 244.7 Allowance for credit losses at acquisition 4.2 Non-credit discount at acquisition 2.6 Par value of acquired loans at acquisition $ 251.5 Fair Value Measurement of Assets Acquired and Liabilities Assumed Described below are the methods used to determine the fair values of the significant assets acquired and liabilities assumed in the Gold Coast acquisition based on guidance from ASC 820-10 which defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Securities . The securities acquired are bought and sold in active markets. The estimated fair values of securities were calculated using external third party broker opinions of the market values. Due to the instability of the market at the time of acquisition as well as the odd lot position sizes of the securities, the Company reviewed the data and assumptions used in pricing the securities by third-parties and made qualitative adjustments to reflect the then current market conditions and the characteristics of each position. Loans. The estimated fair values of the loan portfolio generally consider adjustments for interest rate risk, required funding costs, servicing costs, prepayments, credit and liquidity. Level 3 inputs were utilized to determine the fair value of the acquired loan portfolio and included the use of present value techniques employing cash flow estimates and incorporated assumptions that market participants would use in estimating fair values. In instances where reliable market information was not available, the Company used its own assumptions in an effort to determine fair value. The primary approach to determining the fair value of the loan portfolio was a discounted cash flow methodology that considered factors including the type of loan, underlying collateral, classification status or grade, interest rate structure (fixed or variable interest rate), and remaining term. For the non-credit component, loans were grouped together according to similar characteristics when applying the various valuations techniques. For the credit component, loans were also grouped based on whether they had more than insignificant deterioration in credit since origination (purchase credit deteriorated “PCD” as defined by ASC 326-20). The expected life of loan loss estimates were calculated based on an annual loss rate developed by using the historical annual average charge-off percentages for New York institutions as a proxy for how a market participant acquirer would value the portfolio. Additionally, a qualitative credit adjustment was applied to the historical annual loss rates, due to COVID-19 and the uncertainty of future losses. Deposits / Core Deposit Intangible. The core deposit intangible represents the value assigned to the stable and below market rate funding sources within the acquired deposit base; typically demand deposits, interest checking, money market and savings accounts. The core deposit intangible value represents the value of the relationships with deposit customers as a below market rate funding source. The fair value was based on a discounted cash flow methodology that gave appropriate consideration to expected deposit attrition rates, net maintenance costs of the deposit base, projected interest costs and alternative funding costs. Certificates of deposit (time deposits) are not considered to be core deposits as they typically are less stable and generally do not have an “all-in” favorable funding advantage to alternative funding costs. The fair value of certificates of deposit represents the present value of the certificates’ expected contractual payments discounted by market rates for similar certificates and is determined utilizing Level 2 inputs. Borrowed Funds. A discounted cash flow approach was used to determine the fair value of the debt acquired. The fair value of the liability represents the present value of the expected payments discounted using a risk adjusted discount rate. The discount rate was developed based on comparable rated securities, as that backed by companies with similar credit ratings as the Company.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a summary of our earnings per share calculations and reconciliation of basic to diluted earnings per share. For the Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Earnings for basic and diluted earnings per common share Earnings applicable to common stockholders $ 72,275 $ 39,512 Shares Weighted-average common shares outstanding - basic 234,661,847 233,262,860 Effect of dilutive common stock equivalents (1) 717,534 369,981 Weighted-average common shares outstanding - diluted 235,379,381 233,632,841 Earnings per common share Basic $ 0.31 $ 0.17 Diluted $ 0.31 $ 0.17 (1) For the three months ended March 31, 2021 and 2020, there were 4,274,030 and 5,798,379 equity awards, respectively, that could potentially dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

Securities

Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities	Securities Equity Securities Equity securities are reported at fair value on the Company’s Consolidated Balance Sheets. The Company’s portfolio of equity securities had an estimated fair value of $25.7 million and $36.0 million as of March 31, 2021 and December 31, 2020, respectively. Realized gains and losses from sales of equity securities, as well as changes in fair value of equity securities still held at the reporting date are recognized in the Consolidated Statements of Income. The following table presents the disaggregated net gains and losses on equity securities reported in the Consolidated Statements of Income: Three Months Ended March 31, 2021 2020 (In thousands) Unrealized gains recognized on equity securities $ 711 78 Net losses recognized on equity securities sold (458) — Net gains recognized on equity securities $ 253 78 Debt Securities The following tables present the amortized cost, gross unrealized gains and losses, and estimated fair value for available-for-sale debt securities and the amortized cost, net unrealized losses, carrying value, gross unrecognized gains and losses, estimated fair value and allowance for credit losses for held-to-maturity debt securities as of the dates indicated. At March 31, 2021 Amortized Gross Gross Estimated (In thousands) Available-for-sale: Debt securities: Government-sponsored enterprises $ 4,164 206 — 4,370 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,231,813 26,948 4,908 1,253,853 Federal National Mortgage Association 1,205,340 32,036 7,141 1,230,235 Government National Mortgage Association 190,954 4,214 688 194,480 Total mortgage-backed securities available-for-sale 2,628,107 63,198 12,737 2,678,568 Total debt securities available-for-sale $ 2,632,271 63,404 12,737 2,682,938 At March 31, 2021 Amortized cost Net unrealized losses (1) Carrying value Gross unrecognized gains (2) Gross unrecognized losses (2) Estimated (In thousands) Held-to-maturity: Debt securities: Government-sponsored enterprises $ 133,797 — 133,797 1,410 4,786 130,421 Municipal bonds 234,957 — 234,957 10,562 65 245,454 Corporate and other debt securities 144,176 13,395 130,781 22,147 904 152,024 Total debt securities held-to-maturity 512,930 13,395 499,535 34,119 5,755 527,899 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 280,683 54 280,629 5,737 3,679 282,687 Federal National Mortgage Association 377,412 146 377,266 17,331 142 394,455 Government National Mortgage Association 36,679 — 36,679 1,548 — 38,227 Total mortgage-backed securities held-to-maturity 694,774 200 694,574 24,616 3,821 715,369 Total debt securities held-to-maturity $ 1,207,704 13,595 1,194,109 58,735 9,576 1,243,268 Allowance for credit losses 2,338 Total debt securities held-to-maturity, net of allowance for credit losses 1,191,771 (1) Net unrealized losses of held-to-maturity corporate and other debt securities represent the other than temporary impairment related to other non-credit factors recorded prior to the adoption of the current expected credit losses accounting standard on January 1, 2020 that is being amortized through accumulated other comprehensive income over the remaining life of the securities. For mortgage-backed securities, it represents the net loss on previously designated available-for-sale debt securities transferred to held-to-maturity at fair value and is being amortized through accumulated other comprehensive income over the remaining life of the securities. (2) Unrecognized gains and losses of held-to-maturity debt securities are not reflected in the financial statements, as they represent fair value fluctuations from the later of: (i) the date a security is designated as held-to-maturity; or (ii) the date that an other than temporary impairment charge is recognized on a held-to-maturity security, through the date of the balance sheet. Effective January 1, 2020, held-to-maturity debt securities are evaluated for credit losses to determine if an allowance is necessary. Any allowance required is recorded through the provision for credit losses. At December 31, 2020 Amortized Gross Gross Estimated (In thousands) Available-for-sale: Debt securities: Government-sponsored enterprises $ 4,260 222 — 4,482 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,286,195 30,930 73 1,317,052 Federal National Mortgage Association 1,167,057 38,568 199 1,205,426 Government National Mortgage Association 225,810 5,700 33 231,477 Total mortgage-backed securities available-for-sale 2,679,062 75,198 305 2,753,955 Total debt securities available-for-sale $ 2,683,322 75,420 305 2,758,437 At December 31, 2020 Amortized cost Net unrealized losses (1) Carrying Gross unrecognized gains (2) Gross unrecognized losses (2) Estimated (In thousands) Held-to-maturity: Debt securities: Government-sponsored enterprises $ 109,016 — 109,016 4,107 709 112,414 Municipal bonds 246,601 — 246,601 14,990 — 261,591 Corporate and other debt securities 144,209 13,644 130,565 20,033 885 149,713 Total debt securities held-to-maturity 499,826 13,644 486,182 39,130 1,594 523,718 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 308,285 66 308,219 9,733 266 317,686 Federal National Mortgage Association 413,601 175 413,426 20,905 — 434,331 Government National Mortgage Association 43,290 — 43,290 1,847 — 45,137 Total mortgage-backed securities held-to-maturity 765,176 241 764,935 32,485 266 797,154 Total debt securities held-to-maturity $ 1,265,002 13,885 1,251,117 71,615 1,860 1,320,872 Allowance for credit losses 3,264 Total debt securities held-to-maturity, net of allowance for credit losses 1,247,853 (1) Net unrealized losses of held-to-maturity corporate and other debt securities represent the other than temporary impairment related to other non-credit factors recorded prior to the adoption of the current expected credit losses accounting standard on January 1, 2020 that is being amortized through accumulated other comprehensive income over the remaining life of the securities. For mortgage-backed securities, it represents the net loss on previously designated available-for-sale debt securities transferred to held-to-maturity at fair value and is being amortized through accumulated other comprehensive income over the remaining life of the securities. (2) Unrecognized gains and losses of held-to-maturity debt securities are not reflected in the financial statements, as they represent fair value fluctuations from the later of: (i) the date a security is designated as held-to-maturity; or (ii) the date that an other than temporary impairment charge is recognized on a held-to-maturity security, through the date of the balance sheet. Effective January 1, 2020, held-to-maturity debt securities are evaluated for credit losses to determine if an allowance is necessary. Any allowance required is recorded through the provision for credit losses. Gross unrealized losses on debt securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2021 and December 31, 2020, were as follows: March 31, 2021 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In thousands) Available-for-sale: Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 178,902 4,908 — — 178,902 4,908 Federal National Mortgage Association 387,186 7,141 — — 387,186 7,141 Government National Mortgage Association 34,027 688 — — 34,027 688 Total debt securities available-for-sale 600,115 12,737 — — 600,115 12,737 Held-to-maturity: Debt securities: Government-sponsored enterprises 87,397 4,786 — — 87,397 4,786 Municipal bonds 3,371 65 — — 3,371 65 Corporate and other debt securities 23,838 904 — — 23,838 904 Total debt securities held-to-maturity 114,606 5,755 — — 114,606 5,755 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 100,202 3,679 — — 100,202 3,679 Federal National Mortgage Association 9,234 142 — — 9,234 142 Total mortgage-backed securities held-to-maturity 109,436 3,821 — — 109,436 3,821 Total debt securities held-to-maturity 224,042 9,576 — — 224,042 9,576 Total $ 824,157 22,313 — — 824,157 22,313 December 31, 2020 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In thousands) Available-for-sale: Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 60,502 73 — — 60,502 73 Federal National Mortgage Association 123,329 199 — — 123,329 199 Government National Mortgage Association 9,062 33 — — 9,062 33 Total debt securities available-for-sale 192,893 305 — — 192,893 305 Held-to-maturity: Debt securities: Government-sponsored enterprises 66,558 709 — — 66,558 709 Corporate and other debt securities 15,038 885 — — 15,038 885 Total debt securities held-to-maturity 81,596 1,594 — — 81,596 1,594 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 40,013 266 — — 40,013 266 Total debt securities held-to-maturity 121,609 1,860 — — 121,609 1,860 Total $ 314,502 2,165 — — 314,502 2,165 We conduct periodic reviews of individual securities to assess whether an allowance for credit loss is required. Held-to-maturity debt securities are evaluated for expected credit loss utilizing a historical loss methodology, or a discounted cash flows approach which is assessed against the book value of the investment security excluding accrued interest. Available-for-sale debt securities are evaluated to determine if a decline in fair value below the amortized cost basis has resulted from a credit loss or other factors. An impairment on available-for-sale securities related to credit factors would be recorded through an allowance for credit losses. The allowance would be limited to the amount by which the security’s amortized cost basis exceeds the fair value. An impairment on available-for-sale securities that has not been recorded through an allowance for credit losses shall be recorded through other comprehensive income, net of applicable taxes. Investment securities will be written down to fair value through the consolidated statement of income when management intends to sell (or may be required to sell) the securities before they recover in value. The majority of our held-to-maturity debt securities portfolio is comprised of agency mortgage-backed securities. For agency (FNMA, FHLMC and GNMA) mortgage-backed securities, and other agency debt instruments, the expectation of non-payment is zero. The timely payment of principal and interest on FNMA and FHLMC securities is guaranteed by each corporation. As each of these corporations is in conservatorship with the federal government, the payment guarantees are considered implicit obligations of the US government. GNMA securities carry the full faith and credit guarantee of the federal government. Because of the existence of government guarantees of timely payment of principal and interest, expected losses on agency securities are assumed to be zero. Changes in the fair value of agency securities in this portfolio are primarily driven by changes in interest rates and other non-credit related factors. At March 31, 2021, our held-to-maturity debt securities portfolio had an allowance for credit losses of $2.3 million. The allowance is related to non-agency corporate and other debt securities. The majority of the allowance is related to a portfolio of collateralized debt obligations backed by pooled TruPS, principally issued by banks and to a lesser extent insurance companies and real estate investment trusts. At March 31, 2021, the TruPS had a carrying value before allowance for credit losses and estimated fair value of $50.3 million and $69.9 million, respectively. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of amortized cost. Refer to Note 7, Allowance for Credit Losses , for additional information on the Company’s allowance for credit losses. At March 31, 2021, the available-for-sale debt securities portfolio was almost entirely comprised of agency securities. As such, the unrealized losses in this portfolio are primarily driven by changes in interest rates and other non-credit related factors. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of amortized cost. As of March 31, 2021, there is no allowance for credit losses related to the Company’s available-for-sale debt securities as the decline in fair value did not result from credit issues. Debt securities with a carrying value before allowance for credit losses of $1.87 billion and an estimated fair value of $1.92 billion are pledged to secure borrowings and municipal deposits. The contractual maturities of the Bank’s mortgage-backed securities are generally less than 20 years with effective lives expected to be shorter due to prepayments. Expected maturities may differ from contractual maturities due to underlying loan prepayments or early call privileges of the issuer; therefore, mortgage-backed securities are not included in the following table. Excluding the allowance for credit losses, the amortized cost and estimated fair value of debt securities other than mortgage-backed securities at March 31, 2021, by contractual maturity, are shown below. March 31, 2021 Carrying Estimated (In thousands) Due in one year or less $ 40,776 40,776 Due after one year through five years 10,249 10,448 Due after five years through ten years 162,679 163,078 Due after ten years 289,995 317,967 Total $ 503,699 532,269 Gains and Losses Gains and losses on the sale of all securities are determined using the specific identification method. For the three months ended March 31, 2021, the Company received proceeds of $16.5 million from the sale of equity securities which resulted in a net loss of $458,000. In addition, the Company received proceeds of $8.2 million from the sale of available-for-sale debt securities which resulted in gains of $398,000 for the three months ended March 31, 2021. The Company recognized net unrealized gains on equity securities of $711,000 for the three months ended March 31, 2021.

Loans Receivable, Net

Loans Receivable, Net	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans Receivable, Net	Loans Receivable, Net On January 1, 2020, the Company adopted ASU 2016-13, “Financial Instruments- Credit Losses (Topic 326)” that is referred to as the current expected credit loss methodology, (“CECL”) for measuring credit losses. Refer to Note 7, Allowance for Credit Losses , for further details. All disclosures as of and for the three months ended March 31, 2021 and December 31, 2020 are presented in accordance with Topic 326. The detail of the loan portfolio as of March 31, 2021 and December 31, 2020 was as follows: March 31, December 31, (In thousands) Multi-family loans $ 7,230,501 7,122,840 Commercial real estate loans 4,997,364 4,947,212 Commercial and industrial loans 3,642,178 3,575,641 Construction loans 393,516 404,367 Total commercial loans 16,263,559 16,050,060 Residential mortgage loans 3,911,884 4,119,894 Consumer and other loans 695,793 702,801 Total loans 20,871,236 20,872,755 Deferred fees, premiums and accretable purchase accounting adjustments, net (14,815) (9,318) Allowance for credit losses (283,760) (282,986) Net loans $ 20,572,661 20,580,451 Credit Quality Indicators The Company has lending policies and procedures that provide target market, underwriting and other criteria for identified lending segments to codify the level of credit risk the Company is willing to accept. Approval authority levels are delegated to qualified individuals and approval bodies for the extension of credit within the guidance of these policies and procedures. In addition, the Company maintains an independent loan review department that reviews and validates risk assessment on a continual basis. The Company assigns ratings to borrowers and transactions based on the assessment of a borrower’s ability to service their debt based on relevant information such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. In connection with the adoption of CECL on January 1, 2020, the Company implemented new risk rating models for borrowers and transactions within its commercial loan portfolio. The risk rating methodology transitioned to a dual risk rating framework which bifurcates ratings into probability of default (PD) and loss given default (LGD). Relevant risks are evaluated prior to approving a transaction to determine if the transaction is within the Company’s risk appetite and the appropriate rating. Strong credit analysis requires current, reliable financial information and documented assessment of the customer’s: • ability to perform in accordance with the terms of the credit, including adherence to covenants; • assets and liabilities, liquidity, net worth, and contingent and other off-balance sheet items; • tax liabilities; • cash reserves and ability to convert assets to cash; • income statement and the sources, level, stability, and quality of earnings; • projected performance, sensitized for stressed circumstances; and • industry performance relative to peers and industry. Each commercial credit facility is assigned a PD and LGD rating for the purpose of informing a credit decision, facilitating the determination of the expected level of credit loss and other portfolio management activities (as well as relationship profitability). The dual risk rating framework and risk rating methodologies allow for consistent determination of risk across the Commercial business as indicated by the risk rating assigned. The methodology used by the Bank applies the same criteria for identification of a credit as for the regulatory definitions of risk ratings: Pass - “Pass” assets are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral in a timely manner. Watch - A “Watch” asset has all the characteristics of a Pass asset but warrants more than the normal level of supervision. These loans may require more detailed reporting to management because some aspects of underwriting may not conform to policy or adverse events may have affected or could affect the cash flow or ability to continue operating profitably, provided, however, the events do not constitute an undue credit risk. Residential and consumer loans delinquent 30-59 days are considered watch if not a troubled debt restructuring (“TDR”). In addition, any residential or consumer loan currently on deferment in accordance with the CARES Act or the interagency statement issued by bank regulatory agencies are considered watch. Special Mention - A “Special Mention” asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Residential and consumer loans delinquent 60-89 days are considered special mention if not a TDR. Substandard - A “Substandard” asset is inadequately protected by the current worth and paying capacity of the obligor or by the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Residential and consumer loans delinquent 90 days or greater as well as TDRs are considered substandard. Doubtful - An asset classified “Doubtful” has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently known facts, conditions, and values. Loss - An asset or portion thereof, classified “Loss” is considered uncollectible and of such little value that its continuance on the institution’s books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. This classification does not necessarily mean that an asset has no recovery or salvage value; but rather, there is much doubt about whether, how much, or when the recovery will occur. As such, it is not practical or desirable to defer the write-off. The following table presents the risk category of loans as of March 31, 2021 by class of loan and vintage year: Term Loans by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Total (In thousands) Multi-family Pass $ 385,367 998,208 479,080 796,142 548,043 1,774,521 7,472 4,988,833 Watch — 18,530 174,309 449,463 155,695 600,992 1,340 1,400,329 Special mention — — 3,572 99,001 44,012 267,088 — 413,673 Substandard — — 10,818 16,686 20,962 377,809 1,391 427,666 Total Multi-family 385,367 1,016,738 667,779 1,361,292 768,712 3,020,410 10,203 7,230,501 Commercial real estate Pass 156,520 523,685 693,388 587,853 451,379 1,498,160 30,154 3,941,139 Watch 1,466 90,432 117,359 160,517 67,750 222,648 4,633 664,805 Special mention — 379 7,115 5,263 15,235 121,747 1,437 151,176 Substandard — — — 20,143 45,438 174,663 — 240,244 Total Commercial real estate 157,986 614,496 817,862 773,776 579,802 2,017,218 36,224 4,997,364 Commercial and industrial Pass 202,203 941,163 605,057 295,238 173,597 477,570 218,366 2,913,194 Watch 14,290 37,488 104,910 43,117 23,277 51,986 46,805 321,873 Special mention — 16,606 119,581 57,818 13,162 88,109 1,475 296,751 Substandard — — 6,570 8,041 47,073 33,179 15,497 110,360 Total Commercial and industrial 216,493 995,257 836,118 404,214 257,109 650,844 282,143 3,642,178 Construction Pass 10,948 106,307 53,047 — — — 167,777 338,079 Watch — 6,902 5,350 — — — — 12,252 Special mention — — — 23,375 — — 19,810 43,185 Substandard — — — — — — — — Total Construction 10,948 113,209 58,397 23,375 — — 187,587 393,516 Residential mortgage Pass 303,000 547,273 359,835 350,977 422,900 1,763,869 — 3,747,854 Watch — 1,730 16,013 11,811 17,178 66,558 — 113,290 Special mention — — — 156 521 1,419 — 2,096 Substandard — — 1,523 1,941 1,331 43,754 95 48,644 Total residential mortgage 303,000 549,003 377,371 364,885 441,930 1,875,600 95 3,911,884 Consumer and other Pass 1,827 2,664 6,198 5,237 8,241 57,948 603,298 685,413 Watch — — 38 137 3,167 535 3,355 7,232 Special mention — — — — 792 4 279 1,075 Substandard — — — — — 1,631 442 2,073 Total Consumer and other 1,827 2,664 6,236 5,374 12,200 60,118 607,374 695,793 Total $ 1,075,621 3,291,367 2,763,763 2,932,916 2,059,753 7,624,190 1,123,626 20,871,236 The following table presents the risk category of loans as of December 31, 2020 by class of loan and vintage year: Term Loans by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Total (In thousands) Multi-family Pass $ 1,002,259 515,446 912,910 601,440 850,781 1,199,133 6,986 5,088,955 Watch 21,366 153,404 374,363 135,348 299,413 220,668 — 1,204,562 Special mention 4,560 — 86,119 32,506 48,020 205,916 — 377,121 Substandard — 7,285 8,436 17,580 139,975 277,535 1,391 452,202 Total Multi-family 1,028,185 676,135 1,381,828 786,874 1,338,189 1,903,252 8,377 7,122,840 Commercial real estate Pass 529,244 684,807 646,708 461,097 495,822 1,081,512 32,509 3,931,699 Watch 87,137 132,932 117,598 74,379 61,794 165,702 3,428 642,970 Special mention 375 6,988 5,279 13,295 51,880 71,745 250 149,812 Substandard — — 8,212 40,024 29,488 144,758 249 222,731 Total Commercial real estate 616,756 824,727 777,797 588,795 638,984 1,463,717 36,436 4,947,212 Commercial and industrial Pass 1,007,949 619,275 328,917 156,596 176,557 348,278 203,302 2,840,874 Watch 49,208 115,888 43,791 48,230 28,708 34,697 31,931 352,453 Special mention 16,813 111,399 48,887 14,770 14,102 76,554 798 283,323 Substandard — 6,128 8,236 42,297 4,341 22,707 15,282 98,991 Total Commercial and industrial 1,073,970 852,690 429,831 261,893 223,708 482,236 251,313 3,575,641 Construction Pass 85,915 58,041 23,375 — — — 197,437 364,768 Watch 6,891 5,350 — — — — — 12,241 Special mention — — 15,228 — — — — 15,228 Substandard — — — — — — 12,130 12,130 Total Construction 92,806 63,391 38,603 — — — 209,567 404,367 Residential mortgage Pass 556,761 450,363 425,617 530,676 407,201 1,601,457 — 3,972,075 Watch 809 12,929 13,465 14,704 8,517 44,299 — 94,723 Special mention — — 584 — — 3,402 — 3,986 Substandard — 1,523 1,972 1,336 246 43,936 97 49,110 Total residential mortgage 557,570 464,815 441,638 546,716 415,964 1,693,094 97 4,119,894 Consumer and other Pass 5,031 6,853 5,693 7,448 6,692 57,103 601,481 690,301 Watch — 39 137 56 156 440 7,655 8,483 Special mention — — — — — 292 1,184 1,476 Substandard — — — — — 1,796 745 2,541 Total Consumer and other 5,031 6,892 5,830 7,504 6,848 59,631 611,065 702,801 Total $ 3,374,318 2,888,650 3,075,527 2,191,782 2,623,693 5,601,930 1,116,855 20,872,755 Delinquent and Non-Accrual Loans In the absence of other intervening factors, loans granted payment deferrals related to COVID-19 are not reported as past due or placed on non-accrual status in accordance with the CARES Act and Interagency Guidance. The following tables present the payment status of the recorded investment in past due loans as of March 31, 2021 and December 31, 2020 by class of loans: March 31, 2021 30-59 Days 60-89 Days Greater Total Past Current Total (In thousands) Commercial loans: Multi-family $ 19,176 3,434 16,693 39,303 7,191,198 7,230,501 Commercial real estate 11,458 2,660 7,862 21,980 4,975,384 4,997,364 Commercial and industrial 7,375 200 3,204 10,779 3,631,399 3,642,178 Construction — — — — 393,516 393,516 Total commercial loans 38,009 6,294 27,759 72,062 16,191,497 16,263,559 Residential mortgage 10,135 2,374 29,681 42,190 3,869,694 3,911,884 Consumer and other 3,714 1,075 1,548 6,337 689,456 695,793 Total $ 51,858 9,743 58,988 120,589 20,750,647 20,871,236 December 31, 2020 30-59 Days 60-89 Days Greater Total Past Current Total (In thousands) Commercial loans: Multi-family $ 7,421 — 32,884 40,305 7,082,535 7,122,840 Commercial real estate 12,805 2,450 6,356 21,611 4,925,601 4,947,212 Commercial and industrial 986 3,116 1,769 5,871 3,569,770 3,575,641 Construction — — — — 404,367 404,367 Total commercial loans 21,212 5,566 41,009 67,787 15,982,273 16,050,060 Residential mortgage 13,768 4,258 29,124 47,150 4,072,744 4,119,894 Consumer and other 5,645 1,476 1,984 9,105 693,696 702,801 Total $ 40,625 11,300 72,117 124,042 20,748,713 20,872,755 The following table presents non-accrual loans at the dates indicated: March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) Non-accrual: Multi-family 13 $ 19,179 15 $ 35,567 Commercial real estate 25 14,039 29 15,894 Commercial and industrial 15 4,390 21 9,212 Construction — — — — Total commercial loans 53 37,608 65 60,673 Residential mortgage and consumer 239 45,703 246 46,452 Total non-accrual loans 292 $ 83,311 311 $ 107,125 The Company recognized $279,000 of interest income on non-accrual loans during the three months ended March 31, 2021. Individually Evaluated Loans Loans which do not share common risk characteristics with other loans are individually evaluated as part of the process of calculating the allowance for credit losses. The evaluation is determined on an individual basis using the present value of expected cash flows or the fair value of the collateral as of the reporting date. When management determines that the fair value of collateral securing a collateral dependent loan inadequately covers the balance of net principal, the net principal balance is written down to the fair value of the collateral, net of estimated selling costs as applicable, rather than assigning an allowance. See Note 15, Fair Value Measurements, for information regarding the valuation process for collateral dependent loans. The following table presents individually evaluated collateral-dependent loans by class of loans at the dates indicated: March 31, 2021 December 31, 2020 Real Estate Other Total Real Estate Other Total (Dollars in thousands) Multi-family $ 17,389 — 17,389 $ 31,484 — 31,484 Commercial real estate 7,424 — 7,424 8,758 — 8,758 Commercial and industrial 2,646 930 3,576 2,994 3,549 6,543 Construction — — — — — — Total commercial loans 27,459 930 28,389 43,236 3,549 46,785 Residential mortgage and consumer 24,359 97 24,456 25,158 103 25,261 Total collateral-dependent loans $ 51,818 1,027 52,845 $ 68,394 3,652 72,046 On an annual basis, the Company reviews the lease residuals and assets currently off-lease for potential impairment. For the year ended December 31, 2019, the Company recorded an impairment charge of $2.6 million as the fair value of certain equipment decreased at a rate greater than originally projected. An additional impairment charge of $2.2 million was recorded on the same equipment class during the year ended December 31, 2020 given the extended downturn in the market for these assets. For the period ended March 31, 2021 there were no changes. TDR Loans Included in Non-Accrual Included in the non-accrual table above are TDR loans whose payment status is current but the Company has classified as non-accrual as the loans have not maintained their current payment status for six consecutive months under the restructured terms and therefore do not meet the criteria for accrual status. As of March 31, 2021 and December 31, 2020, these loans are comprised of the following: March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) TDR with payment status current classified as non-accrual: Commercial real estate 3 $ 4,362 3 $ 3,907 Residential mortgage and consumer 33 5,636 32 5,634 Total TDR with payment status current classified as non-accrual 36 $ 9,998 35 $ 9,541 The following table presents TDR loans which were also 30-89 days delinquent and classified as non-accrual at the dates indicated: March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) TDR 30-89 days delinquent classified as non-accrual: Commercial real estate — $ — 1 $ 1,780 Residential mortgage and consumer 9 726 10 942 Total TDR 30-89 days delinquent classified as non-accrual 9 $ 726 11 $ 2,722 The Company has no loans past due 90 days or more delinquent that are still accruing interest. Guidance on Non-TDR Loan Modifications due to COVID-19 The Company implemented various consumer and commercial loan modification programs to provide its borrowers relief from the economic impacts of COVID-19. In accordance with the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the Company elected to not apply troubled debt restructuring classification to any COVID-19 related loan modifications that occurred after March 1, 2020 to borrowers who were current as of December 31, 2019. Accordingly, these modifications are exempt from troubled debt restructuring classification under U.S. generally accepted accounting principles (“U.S. GAAP”) and were not classified as troubled debt restructurings (“TDRs”). The Consolidated Appropriations Act of 2021 extends this provision of the CARES Act to January 1, 2022. In addition, for loans modified in response to the COVID-19 pandemic that did not meet the above criteria (e.g., current payment status at December 31, 2019), the Company applied the guidance included in an interagency statement issued by the bank regulatory agencies. For loan modifications that include a payment deferral and are not TDRs, the borrower’s past due and non-accrual status have not been impacted during the deferral period. Interest income has continued to be recognized over the contractual life of the loan. Troubled Debt Restructurings On a case-by-case basis, the Company may agree to modify the contractual terms of a borrower’s loan to remain competitive and assist customers who may be experiencing financial difficulty, as well as preserve the Company’s position in the loan. If the borrower is experiencing financial difficulties and a concession has been made at the time of such modification, the loan is classified as a TDR. Substantially all of our TDR loan modifications involve lowering the monthly payments on such loans through either a reduction in interest rate below a market rate, an extension of the term of the loan, or a combination of these two methods. These modifications rarely result in the forgiveness of principal or accrued interest. In addition, we frequently obtain additional collateral or guarantor support when modifying commercial loans. Restructured loans remain on non-accrual status until payment is reasonably assured (generally six consecutive months of payments) and both principal and interest are deemed collectible. Consistent with the CARES Act and interagency guidance which allows temporary relief for current borrowers affected by COVID-19, we have worked with borrowers and granted certain modifications through programs related to COVID-19 relief. At March 31, 2021, loans with an aggregate outstanding balance of approximately $693.0 million have been granted payment deferment as a result of financial disruptions associated with the COVID-19 pandemic. Such modifications that met the criteria are not included in our TDR totals and discussion below. The following tables present the total TDR loans at March 31, 2021 and December 31, 2020: March 31, 2021 Accrual Non-accrual Total # of loans Amount # of loans Amount # of loans Amount (Dollars in thousands) Commercial loans: Commercial real estate — $ — 3 $ 4,362 3 $ 4,362 Commercial and industrial 2 930 — — 2 930 Total commercial loans 2 930 3 4,362 5 5,292 Residential mortgage and consumer 43 8,165 82 16,291 125 24,456 Total 45 $ 9,095 85 $ 20,653 130 $ 29,748 December 31, 2020 Accrual Non-accrual Total # of loans Amount # of loans Amount # of loans Amount (Dollars in thousands) Commercial loans: Commercial real estate — $ — 4 $ 5,687 4 $ 5,687 Commercial and industrial 2 630 2 2,919 4 3,549 Total commercial loans 2 630 6 8,606 8 9,236 Residential mortgage and consumer 45 8,602 83 16,659 128 25,261 Total 47 $ 9,232 89 $ 25,265 136 $ 34,497 The following tables present information about TDRs that occurred during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 Number of Pre-modification Post- Number of Pre-modification Post- (Dollars in thousands) Troubled Debt Restructurings: Commercial and industrial — $ — $ — 1 $ 933 $ 933 Post-modification recorded investment represents the net book balance immediately following modification. Collateral dependent loans classified as TDRs were written down to the estimated fair value of the collateral. There were $11,000 in charge offs of TDRs of collateral dependent residential loans during the three months ended March 31, 2021. There were no charge-offs for TDRs during the three months ended March 31, 2020. The allowance for credit losses associated with the TDRs presented in the above tables totaled $1.4 million as of March 31, 2021 and December 31, 2020. Loan modifications generally involve the reduction in loan interest rate and/or extension of loan maturity dates and also may include step up interest rates in their modified terms which will impact their weighted average yield in the future. There were no residential or commercial loan modifications in the three months ended March 31, 2021. The commercial loan modification which qualified as a TDR in the three months ended March 31, 2020 had its maturity extended. The following table presents information about pre and post modification interest yield for TDRs which occurred during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 Number of Pre-modification Post- Number of Pre-modification Post- Troubled Debt Restructurings: Commercial and industrial — — % — % 1 4.75 % 4.75 % Payment defaults for loans modified as a TDR in the previous 12 months to March 31, 2021 consisted of one commercial real estate loan and five residential loans with a recorded investment of $1.8 million and $1.2 million, respectively. Payment defaults for loans modified as a TDR in the previous 12 months to March 31, 2020 consisted of two residential loans with a recorded investment of $149,000 at March 31, 2020. Non-Performing Loan Sale During the three months ended March 31, 2021, the Company sold a non-performing multi-family loan with a net book balance of $16.2 million. The Company recognized a recovery of $1.4 million in the allowance for credit losses on the sale.

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2021
Credit Loss [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses On January 1, 2020, the Company adopted ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which replaces the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology. An analysis of the provision for credit losses is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Provision for loan losses $ (961) 26,752 Provision for debt securities held-to-maturity (926) 431 Provision for off-balance sheet credit exposures (1,085) 4,043 Total provision for credit losses $ (2,972) 31,226 Allowance for Credit Losses on Loans Receivable An analysis of the allowance for credit losses for loans receivable is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 282,986 228,120 Adjustment for adoption of ASC 326 — (3,551) Gross charge offs (681) (10,930) Recoveries 2,416 2,897 Net charge-offs 1,735 (8,033) Provision for credit loss expense (961) 26,752 Balance at end of the period $ 283,760 243,288 Accrued interest receivable on loans, reported as a component of accrued interest receivable on the balance sheet, totaled $72.0 million at March 31, 2021 and is excluded from credit losses. For the three months ended March 31, 2021 loans in payment deferral with accrued interest and deferred escrow are included in credit losses. The allowance for credit losses represents the estimated amount considered necessary to cover lifetime expected credit losses inherent in financial assets at the balance sheet date. The lifetime estimate considers multiple economic scenarios, including recessionary scenarios that assume deterioration in key economic variables such as gross domestic product, unemployment rate and real estate prices. The Company assesses the selection and probability weightings of each economic scenario. In estimating the allowance for credit losses, multiple economic outlooks are used that include a base or consensus case, a downside recessionary case and an upside scenario to reflect the potential for continued improvement in the economic outlook. In addition, the allowance for credit losses includes qualitative reserves for certain segments that may not be fully recognized through its quantitative models. There are still many unknowns including the duration of the impact of COVID-19 on the economy and the results of the government fiscal and monetary actions along with payment deferral programs. The Company will continue to evaluate the allowance for credit losses and the related economic outlook each quarter. The following tables present the balance in the allowance for credit losses for loans by portfolio segment as of March 31, 2021 and December 31, 2020: March 31, 2021 Multi- Commercial Commercial Construction Residential Consumer Unallocated Total (Dollars in thousands) Allowance for credit losses: Balance as of December 31, 2020 $ 56,731 115,918 79,327 7,267 19,941 3,802 — 282,986 Charge-offs (275) (30) (275) — (93) (8) — (681) Recoveries 1,393 45 915 — 58 5 — 2,416 Provision for credit loss expense 11,458 (14,325) 3,451 775 (2,358) 38 — (961) Ending balance-March 31, 2021 $ 69,307 101,608 83,418 8,042 17,548 3,837 — 283,760 December 31, 2020 Multi- Commercial Commercial Construction Residential Consumer Unallocated Total (Dollars in thousands) Allowance for credit losses: Balance as of December 31, 2019 $ 74,099 50,925 74,396 6,816 17,391 2,548 1,945 228,120 Adjustment for adoption of ASC 326 (9,741) (4,631) (7,511) (1,901) 20,089 2,089 (1,945) (3,551) Balance as of 64,358 46,294 66,885 4,915 37,480 4,637 — 224,569 Charge-offs (4,631) (521) (12,005) — (1,190) (41) — (18,388) Recoveries 1,965 412 4,459 — 677 222 — 7,735 Allowance at acquisition on loans purchased with credit deterioration 209 3,208 287 127 344 5 — 4,180 Provision for credit loss expense (5,170) 66,525 19,701 2,225 (17,370) (1,021) — 64,890 Ending balance-December 31, 2020 $ 56,731 115,918 79,327 7,267 19,941 3,802 — 282,986 Allowance for Credit Losses on Debt Securities An analysis of the allowance for credit losses for debt securities held-to-maturity is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of the period $ 3,264 — Impact of adopting ASC 326 — 2,564 Provision for credit losses (926) 431 Balance at end of the period $ 2,338 2,995 The following tables present the balance in the allowance for credit losses for debt securities held-to-maturity by portfolio segment as of March 31, 2021: March 31, 2021 Municipal Bonds Corporate and Other Debt Securities Total (Dollars in thousands) Allowance for credit losses: Beginning balance-December 31, 2020 $ 34 3,230 3,264 Provision for credit loss (7) (919) (926) Ending balance-March 31, 2021 $ 27 2,311 2,338 December 31, 2020 Municipal Bonds Corporate and Other Debt Securities Total (Dollars in thousands) Allowance for credit losses: Beginning balance - December 31, 2019 $ — — — Impact of adopting ASC 326 17 2,547 2,564 Provision for credit loss 17 683 700 Ending balance - December 31, 2020 $ 34 3,230 3,264 Accrued interest receivable on debt securities held-to-maturity totaled $5.2 million at March 31, 2021 and is excluded from the estimate of credit losses. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures An analysis of the allowance for credit losses for off-balance sheet credit exposures is as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of the period $ 17,667 425 Impact of adopting ASC 326 — 12,674 Provision for credit losses (1,085) 4,043 Balance at end of the period $ 16,582 17,142

Deposits

Deposits	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposits	Deposits Deposits are summarized as follows: March 31, 2021 December 31, 2020 (In thousands) Non-interest bearing: Checking accounts $ 3,837,297 3,663,073 Interest bearing: Checking accounts 6,101,528 6,043,393 Money market deposits 4,539,365 5,037,327 Savings 1,979,270 2,063,447 Certificates of deposit 2,533,568 2,718,179 Total deposits $ 18,991,028 19,525,419

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table summarizes goodwill and intangible assets at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (In thousands) Mortgage servicing rights $ 11,776 10,957 Core deposit premiums 3,309 3,560 Other 560 581 Total other intangible assets 15,645 15,098 Goodwill 94,535 94,535 Goodwill and intangible assets $ 110,180 109,633 The following table summarizes other intangible assets as of March 31, 2021 and December 31, 2020: Gross Intangible Asset Accumulated Amortization Valuation Allowance Net Intangible Assets (In thousands) March 31, 2021 Mortgage servicing rights $ 17,975 (6,139) (60) 11,776 Core deposit premiums 23,063 (19,754) — 3,309 Other 1,150 (590) — 560 Total other intangible assets $ 42,188 (26,483) (60) 15,645 December 31, 2020 Mortgage servicing rights $ 17,559 (5,592) (1,010) 10,957 Core deposit premiums 23,063 (19,503) — 3,560 Other 1,150 (569) — 581 Total other intangible assets $ 41,772 (25,664) (1,010) 15,098 Mortgage servicing rights are accounted for using the amortization method. Under this method, the Company amortizes the loan servicing asset in proportion to, and over the period of, estimated net servicing revenues. The Company sells loans on a servicing-retained basis. The unpaid principal balance of these loans were $1.73 billion and $1.69 billion at March 31, 2021 and December 31, 2020, respectively, all of which relate to mortgage loans. At March 31, 2021 and December 31, 2020, the servicing asset, included in other intangible assets, had an estimated fair value of $12.8 million and $11.2 million, respectively. At March 31, 2021, fair value was based on expected future cash flows considering a weighted average discount rate of 12.03%, a weighted average constant prepayment rate on mortgages of 14.16% and a weighted average life of 5.3 years. Based on an analysis of fair values as of March 31, 2021, the Company determined that a $60,000 valuation allowance for mortgage servicing rights was required, a decrease of approximately $1.0 million from the previous quarter. See Note 15, Fair Value Measurements , for additional details. Core deposit premiums are amortized using an accelerated method and having a weighted average amortization period of 10 years. For the year ended December 31, 2020, the Company recorded $2.5 million in core deposit premiums resulting from the acquisition of Gold Coast.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices, branch locations and certain equipment. For these operating leases, the Company recognizes a lease liability and a right-of-use asset, measured at the present value of the future minimum lease payments, at the lease commencement date. The Company’s leases have remaining lease terms of up to 15 years, some of which include options to extend the leases for up to 10 years. Certain of our operating leases for branch locations contain variable lease payments related to consumer price index adjustments. The following table presents the balance sheet information related to our operating leases: March 31, 2021 December 31, 2020 (Dollars in thousands) Operating lease right-of-use assets $ 195,130 199,981 Operating lease liabilities 207,653 212,559 Weighted average remaining lease term 9.2 years 9.4 years Weighted average discount rate 2.48 % 2.49 % In determining the present value of lease payments, the discount rate used for each individual lease is the rate implicit in the lease, unless that rate cannot be readily determined, in which case the Company is required to use its incremental borrowing rate based on the information available at commencement date. For its incremental borrowing rate, the Company uses the borrowing rates offered to the Company by the Federal Home Loan Bank, which reflects the rates a lender would charge the Company to obtain a collateralized loan. The following table presents the components of total operating lease cost recognized in the Consolidated Statements of Income: Three Months Ended March 31, 2021 2020 (In thousands) Included in office occupancy and equipment expense: Operating lease cost $ 7,149 6,280 Short-term lease cost 216 86 Included in other income: Sublease income 51 67 The following table presents supplemental cash flow information related to operating leases: Three Months Ended March 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows from operating leases $ 7,262 5,707 Operating lease liabilities arising from obtaining right-of-use assets (non-cash): Operating leases 2,168 558 Future minimum operating lease payments and reconciliation to operating lease liabilities at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (In thousands) 2021 $ 21,659 28,844 2022 27,615 27,448 2023 26,534 26,354 2024 26,492 26,300 2025 25,842 25,496 Thereafter 104,808 104,729 Total lease payments 232,950 239,171 Less: Imputed interest (25,297) (26,612) Total operating lease liabilities $ 207,653 $ 212,559 Other assets Other liabilities

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity Incentive Plan	Equity Incentive Plan At the annual meeting held on June 9, 2015, stockholders of the Company approved the Investors Bancorp, Inc. 2015 Equity Incentive Plan (“2015 Plan”) which provides for the issuance or delivery of up to 30,881,296 shares (13,234,841 restricted stock awards and 17,646,455 stock options) of Investors Bancorp, Inc. common stock. Restricted shares granted under the 2015 Plan vest in equal installments, over the service period generally ranging from 5 to 7 years beginning one year from the date of grant. Additionally, certain restricted shares awarded are performance vesting awards, which may or may not vest depending upon the attainment of certain corporate financial targets. The vesting of restricted stock may accelerate in accordance with the terms of the 2015 Plan. The product of the number of shares granted and the grant date closing market price of the Company’s common stock determine the fair value of restricted shares under the 2015 Plan. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period. For the three months ended March 31, 2021 and March 31, 2020, the Company granted 216,343 and 64,923 shares of restricted stock awards under the 2015 Plan, respectively. Stock options granted under the 2015 Plan vest in equal installments, over the service period generally ranging from 5 to 7 years beginning one year from the date of grant. The vesting of stock options may accelerate in accordance with the terms of the 2015 Plan. Stock options were granted at an exercise price equal to the fair value of the Company’s common stock on the grant date based on the closing market price and have an expiration period of 10 years. For the three months ended March 31, 2021 and March 31, 2020, the Company granted no stock options under the 2015 Plan. The fair value of stock options granted as part of the 2015 Plan are estimated utilizing the Black-Scholes option pricing model. The weighted average expected life of the stock option represents the period of time that stock options are expected to be outstanding and is estimated using historical data of stock option exercises and forfeitures. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the historical volatility of the Company’s stock. The Company recognizes compensation expense for the fair values of these awards, which have graded vesting, on a straight-line basis over the requisite service period of the awards. Upon exercise of vested options, management expects to draw on treasury stock as the source for shares. The following table presents the share-based compensation expense for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Stock option expense $ 910 988 Restricted stock expense 2,550 2,901 Total share-based compensation expense $ 3,460 3,889 The following is a summary of the Company’s stock option activity and related information for the three months ended March 31, 2021: Number of Weighted Average Weighted Average Aggregate Outstanding at December 31, 2020 5,570,858 $ 12.46 4.5 $ 191 Granted — — — Exercised (175,830) 11.57 3.8 Forfeited (21,429) 12.54 Expired (14,286) 12.54 Outstanding at March 31, 2021 5,359,313 12.49 4.3 11,801 Exercisable at March 31, 2021 3,614,828 $ 12.47 4.3 $ 8,035 Expected future expense relating to the non-vested options outstanding as of March 31, 2021 is $4.6 million over a weighted average period of 1.05 years. The following is a summary of the status of the Company’s restricted shares as of March 31, 2021 and changes therein during the three months ended: Number of Shares Awarded Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 1,974,235 $ 12.44 Granted 216,343 13.01 Vested (109,274) 13.59 Forfeited (8,567) 12.54 Outstanding and non-vested at March 31, 2021 2,072,737 $ 12.44

Net Periodic Benefit Plan Expen

Net Periodic Benefit Plan Expense	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Net Periodic Benefit Plan Expense	Net Periodic Benefit Plan Expense The Company has an Executive Supplemental Retirement Wage Replacement Plan (“SERP II”) and the Supplemental ESOP and Retirement Plan (“SERP I”) (collectively, the “SERPs”). The SERP II is a nonqualified, defined benefit plan which provides benefits to certain executives as designated by the Compensation and Benefits Committee of the Board of Directors. More specifically, the SERP II was designed to provide participants with a normal retirement benefit equal to an annual benefit of 60% of the participant’s highest annual base salary and cash incentive (over a consecutive 36-month period within the participant’s credited service period) reduced by the sum of the benefits provided under the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra DB Plan”) and the SERP I. Effective as of the close of business of December 31, 2016, the SERP II was amended to freeze future benefit accruals subsequent to the 2016 year of service. The SERP I compensates certain executives (as designated by the Compensation and Benefits Committee of the Board of Directors) participating in the ESOP whose contributions are limited by the Internal Revenue Code. The Company also maintains the Amended and Restated Director Retirement Plan (“Directors’ Plan”) for certain directors, which is a nonqualified, defined benefit plan. The Directors’ Plan was frozen on November 21, 2006 such that no new benefits accrued under, and no new directors were eligible to participate in the plan. The SERPs and the Directors’ Plan are unfunded and the costs of the plans are recognized over the period that services are provided. The components of net periodic benefit cost for the Directors’ Plan and the SERP II are as follows: Three Months Ended March 31, 2021 2020 (In thousands) Interest cost $ 250 324 Amortization of: Net loss 142 8 Total net periodic benefit cost $ 392 332 Due to the unfunded nature of the SERPs and the Directors’ Plan, no contributions have been made or were expected to be made during the three months ended March 31, 2021. The Company also maintains the Pentegra DB Plan. As of December 31, 2016, the annual benefit provided under the Pentegra DB plan was frozen by an amendment to the plan. Freezing the plan eliminated all future benefit accruals and each participant’s frozen accrued benefit was determined as of December 31, 2016 and no further benefits accrued subsequent to December 31, 2016. Since it is a multi-employer plan, costs of the pension plan are based on contributions required to be made to the pension plan. There was no contribution required during the three months ended March 31, 2021. We anticipate contributing funds to the plan to meet any minimum funding requirements for the remainder of 2021.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s floating rate wholesale fundings and pools of fixed-rate assets. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are primarily to reduce cost and add stability to interest expense in an effort to manage its exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of amounts subject to variability caused by changes in interest rates from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Changes in the fair value of derivatives designated and that qualify as cash flow hedges are initially recorded in other comprehensive income and are subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Such derivatives were used to hedge the variability in cash flows associated with wholesale funding. The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of twenty-two months (excluding forecasted transactions related to the payment of variable interest on existing financial instruments). During the year ended December 31, 2020, the Company terminated four interest rate swaps with an aggregate notional of $400.0 million. Upon termination, the Company accelerated the reclassification of amounts in other comprehensive income to earnings as a result of the hedged forecasted transactions becoming probable not to occur. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate borrowings. During the next twelve months, the Company estimates that an additional $41.5 million will be reclassified as an increase to interest expense. Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its pools of fixed-rate assets due to changes in benchmark interest rates. The Company may use interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. Such derivatives were used to hedge the changes in fair value of certain of its pools of prepayable fixed-rate assets. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. The Company terminated two interest rate swaps with an aggregate notional of $475.0 million during the year ended December 31, 2020. The terminated swaps were due to mature in April and May 2021. The remaining balance of the fair value hedging adjustment included in the carrying amount of the assets previously hedged is being amortized into interest income on a straight-line basis over the remaining lives of the assets previously hedged. Derivatives Not Designated as Hedges The Company has credit derivatives resulting from participation in interest rate swaps provided to external lenders as part of loan participation arrangements which are, therefore, not used to manage interest rate risk in the Company’s assets or liabilities. Additionally, the Company provides interest rate risk management services to commercial customers, primarily interest rate swaps. The Company’s market risk from unfavorable movements in interest rates related to these derivative contracts is economically hedged by concurrently entering into offsetting derivative contracts that have identical notional values, terms and indices. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain lenders which participate in loans and commercial customers. Fair Values of Derivative Instruments on the Balance Sheet Amounts included in the Consolidated Balance Sheet related to the fair value of the Company’s derivative instruments are shown below. Asset derivatives depicted below represent derivatives with a positive fair value position, while liability derivatives represent derivatives with a negative fair value position. March 31, 2021 Asset Derivatives Liability Derivatives Notional Amount Fair Value Notional Amount Fair Value (in millions) (In thousands) (in millions) (In thousands) Derivatives designated as hedging instruments: Interest Rate Swaps $ 1,250 $ 36,505 $ 2,325 $ 91,835 Total derivatives designated as hedging instruments $ 36,505 $ 91,835 Derivatives not designated as hedging instruments: Interest Rate Swaps $ 693 $ 30,130 $ 693 $ 30,130 Other Contracts — — 34 108 Total derivatives not designated as hedging instruments $ 30,130 $ 30,238 Netting Adjustments (1) 52,521 105,281 Net Derivatives on the Balance Sheet $ 14,114 $ 16,792 Cash Collateral (2) — — Net Derivative Amounts $ 14,114 $ 16,792 (1) Netting adjustments represents the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The Chicago Mercantile Exchange (“CME”) legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. (2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above. December 31, 2020 Asset Derivatives Liability Derivatives Notional Amount Fair Value Notional Amount Fair Value (in millions) (In thousands) (in millions) (In thousands) Derivatives designated as hedging instruments: Interest Rate Swaps $ 400 $ 1,419 $ 2,925 $ 115,166 Total derivatives designated as hedging instruments $ 1,419 $ 115,166 Derivatives not designated as hedging instruments: Interest Rate Swaps $ 641 $ 34,155 $ 641 $ 34,155 Other Contracts — — 34 217 Total derivatives not designated as hedging instruments $ 34,155 $ 34,372 Netting Adjustments (1) 997 149,046 Net Derivatives on the Balance Sheet $ 34,577 $ 492 Cash Collateral (2) — 237 Net Derivative Amounts $ 34,577 $ 255 (1) Netting adjustments represents the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The Chicago Mercantile Exchange (“CME”) legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. (2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above. Effect of Derivative Instruments on Accumulated Other Comprehensive Income (Loss) The following table presents the effect of the Company’s derivative financial instruments on the Accumulated Comprehensive Income (Loss) for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, 2021 2020 (In thousands) Cash Flow Hedges - Interest rate swaps Amount of gain (loss) recognized in other comprehensive income (loss) $ 48,121 (100,361) Amount of loss reclassified from accumulated other comprehensive income (loss) to interest expense (10,019) (2,089) Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships The following table presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income as of March 31, 2021 and 2020. For the Three Months Ended March 31, 2021 2020 The effects of fair value and cash flow hedging: Income statement location (In thousands) Fair Value Hedges - Gain or (loss) on relationships in Subtopic 815-20 Interest contracts Hedged items Interest income $ 28 6,769 Derivatives designated as hedging instruments Interest income — (7,188) Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20 Interest contracts Amount of loss reclassified from accumulated other comprehensive income (loss) Interest expense (10,019) (2,089) Amount of gain or (loss) reclassified from accumulated other comprehensive income (loss) as a result that a forecasted transaction is no longer probable of occurring Other expense — — Total amounts of income and expense line items presented in the income statement in which the effects of fair value are recorded $ (9,991) (2,508) Fee income related to derivative interest rate swaps executed with commercial loan customers totaled $1.8 million and $1.0 million for the three months ended March 31, 2021 and 2020. As of March 31, 2021 and December 31, 2020, the following amounts were recorded on the Consolidated Balance Sheets related to cumulative basis adjustment for fair value hedges: Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) Balance sheet location March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 (In thousands) Loans receivable, net (1)(2) $ 149,761 — $ 6,515 8,798 (1) At March 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $408.6 million; the cumulative basis adjustments associated with these hedging relationships was $6.5 million; and the amounts of the designated hedged items were $149.8 million. (2) The balance of Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) as of March 31, 2021 includes $6.8 million of hedging adjustment on discontinued hedging relationships. Location and Amount of Gain or (Loss) Recognized in Income on Derivatives Not Designated as Hedging Instruments The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the Consolidated Statements of Income as of March 31, 2021: Consolidated Statements of Income location Amount of Gain (Loss) Recognized in Income on Derivative For the Three Months Ended March 31, 2021 2020 (In thousands) Other Contracts Other income / (expense) $ 109 (129) Total $ 109 (129)

Comprehensive Income

Comprehensive Income	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Comprehensive Income	Comprehensive Income The components of comprehensive income, gross and net of tax, are as follows: Three Months Ended March 31, 2021 2020 Gross Tax Net Gross Tax Net (Dollars in thousands) Net income $ 99,349 (27,074) 72,275 54,159 (14,647) 39,512 Other comprehensive income (loss): Change in funded status of retirement obligations 168 (47) 121 28 (8) 20 Unrealized (losses) gains on debt securities available-for-sale (24,050) 5,730 (18,320) 49,409 (11,781) 37,628 Accretion of loss on debt securities reclassified to held-to-maturity from available-for-sale 41 (10) 31 74 (18) 56 Reclassification adjustment for security gains included in net income (398) 99 (299) — — — Other-than-temporary impairment accretion on debt securities recorded prior to January 1, 2020 249 (70) 179 250 (70) 180 Net gains (losses) on derivatives 58,140 (16,343) 41,797 (98,272) 27,624 (70,648) Total other comprehensive income (loss) 34,150 (10,641) 23,509 (48,511) 15,747 (32,764) Total comprehensive income $ 133,499 (37,715) 95,784 5,648 1,100 6,748 The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020: Change in Accretion of loss on debt securities reclassified to held-to-maturity Unrealized gains on debt securities Other-than- Unrealized losses on derivatives Total (Dollars in thousands) Balance - December 31, 2020 $ (9,485) (184) 57,204 (9,809) (77,742) (40,016) Net change 121 31 (18,619) 179 41,797 23,509 Balance - March 31, 2021 $ (9,364) (153) 38,585 (9,630) (35,945) (16,507) Balance - December 31, 2019 $ (6,690) (386) 29,456 (10,629) (30,373) (18,622) Net change 20 56 37,628 180 (70,648) (32,764) Balance - March 31, 2020 $ (6,670) (330) 67,084 (10,449) (101,021) (51,386) The following table presents information about amounts reclassified from accumulated other comprehensive loss to the consolidated statements of income and the affected line item in the statement where net income is presented. Three Months Ended March 31, 2021 2020 (In thousands) Reclassification adjustment for gains included in net income Gain on securities, net $ (398) — Change in funded status of retirement obligations Amortization of net loss 168 8 Compensation and fringe benefits 168 8 Reclassification adjustment for unrealized losses on derivatives Interest expense 10,019 2,090 Total before tax 9,789 2,098 Income tax expense (2,677) (567) Net of tax $ 7,112 1,531

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Our debt securities available-for-sale and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record at fair value other assets or liabilities on a non-recurring basis, such as held-to-maturity debt securities, mortgage servicing rights (“MSR”), loans receivable and other real estate owned. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting or write-downs of individual assets. Additionally, in connection with our mortgage banking activities we may have commitments to fund loans held-for-sale and commitments to sell loans, which are considered free-standing derivative instruments, the fair values of which are not material to our financial condition or results of operations. In accordance with FASB ASC 820, “ Fair Value Measurements and Disclosures ”, we group our assets and liabilities at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of option pricing models, discounted cash flow models and similar techniques. The results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets Measured at Fair Value on a Recurring Basis Equity securities Our equity securities portfolio is carried at estimated fair value on a recurring basis, with any unrealized gains and losses recognized in the Consolidated Statements of Income. The fair values of equity securities are based on quoted market prices (Level 1). Debt securities available-for-sale Our debt securities available-for-sale portfolio is carried at estimated fair value on a recurring basis, with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income (loss) in stockholders’ equity. The fair values of debt securities available-for-sale are provided by a third-party pricing service. The pricing service may use quoted market prices of comparable instruments or a variety of other forms of analysis, incorporating inputs that are currently observable in the markets for similar securities (Level 2). Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and non-binding broker quotes. As the Company is responsible for the determination of fair value, a quarterly analysis of the prices received from the pricing service is performed to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to a secondary pricing source. Additionally, the Company compares changes in the reported market values to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and the review of the fair value methodology documentation provided by the independent pricing services has not resulted in material adjustments in the prices obtained from the pricing services. Derivatives Derivatives are reported at fair value utilizing Level 2 inputs. The fair values of interest rate swap and risk participation agreements are based on a valuation model that uses primarily observable inputs, such as benchmark yield curves and interest rate spreads. The following tables provide the level of valuation assumptions used to determine the carrying value of our assets and liabilities measured at fair value on a recurring basis at March 31, 2021 and December 31, 2020. Carrying Value at March 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Equity securities $ 25,727 25,727 — — Debt securities available for sale: Government-sponsored enterprises $ 4,370 — 4,370 — Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,253,853 — 1,253,853 — Federal National Mortgage Association 1,230,235 — 1,230,235 — Government National Mortgage Association 194,480 — 194,480 — Total debt securities available-for-sale $ 2,682,938 — 2,682,938 — Interest rate swaps $ 14,114 — 14,114 — Liabilities: Derivatives: Interest rate swaps $ 16,684 — 16,684 — Other contracts 108 — 108 — Total derivatives $ 16,792 — 16,792 — Carrying Value at December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Equity securities $ 36,000 36,000 — — Debt securities available for sale: Debt securities: Government-sponsored enterprises 4,482 — 4,482 — Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 1,317,052 — 1,317,052 — Federal National Mortgage Association 1,205,426 — 1,205,426 — Government National Mortgage Association 231,477 — 231,477 — Total debt securities available-for-sale $ 2,758,437 — 2,758,437 — Interest rate swaps $ 34,577 — 34,577 — Liabilities: Derivatives: Interest rate swaps $ 275 — 275 — Other contracts 217 — 217 — Total derivatives $ 492 — 492 — There have been no changes in the methodologies used at March 31, 2021 from December 31, 2020, and there were no transfers between Level 1 and Level 2 during the three months ended March 31, 2021. There were no Level 3 assets measured at fair value on a recurring basis for the three months ended March 31, 2021 and December 31, 2020. Assets Measured at Fair Value on a Non-Recurring Basis Mortgage Servicing Rights, Net Mortgage servicing rights are carried at the lower of cost or estimated fair value. The estimated fair value of MSR is obtained through independent third-party valuations through an analysis of future cash flows, incorporating assumptions market participants would use in determining fair value including market discount rates, prepayment speeds, servicing income, servicing costs, default rates and other market driven data, including the market’s perception of future interest rate movements. The prepayment speed and the discount rate are considered two of the most significant inputs in the model. At March 31, 2021, the fair value model used prepayment speeds ranging from 1.50% to 23.94% and a discount rate of 12.03% for the valuation of the mortgage servicing rights. At December 31, 2020, the fair value model used prepayment speeds ranging from 14.46% to 23.58% and a discount rate of 12.03% for the valuation of the mortgage servicing rights. A significant degree of judgment is involved in valuing the mortgage servicing rights using Level 3 inputs. The use of different assumptions could have a significant positive or negative effect on the fair value estimate. Collateral Dependent Loans A collateral dependent loan is a loan for which repayment is expected to be provided substantially through the operation or sale of the collateral. A loan is individually evaluated when it is a collateral dependent commercial loan with an outstanding balance greater than $1.0 million and on non-accrual status, a loan modified in a troubled debt restructuring, or is a commercial loan with $1.0 million in outstanding principal if management has specific information that it is probable they will not collect all amounts due under the contractual terms of the loan agreement. Collateral-dependent loans secured by property are carried at the estimated fair value of the collateral less estimated selling costs. Estimated fair value is calculated using an independent third-party appraiser. In the event the most recent appraisal does not reflect the current market conditions due to the passage of time and other factors, management will obtain an updated appraisal or make downward adjustments to the existing appraised value based on their knowledge of the property, local real estate market conditions, recent real estate transactions, and for estimated selling costs, if applicable. Appraisals were generally discounted in a range of 0% to 25%. Collateral securing a loan may consist of real estate or other property such as equipment or inventory. Collateral securing commercial and industrial loans may include real estate, other property or the operating results of the business. For non-collateral dependent loans, management estimates the fair value using discounted cash flows based on inputs that are largely unobservable and instead reflect management’s own estimates of the assumptions as a market participant would in pricing such loans. Other Real Estate Owned and Other Repossessed Assets Other Real Estate Owned and Other Repossessed Assets are recorded at estimated fair value, less estimated selling costs when acquired, thus establishing a new cost basis. Repossessed assets that are available for lease are included in operating lease equipment reviewed below. Fair value of foreclosed real estate property and other repossessed assets is generally based on independent appraisals. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are discounted an additional 0% to 25% for estimated costs to sell. When an asset is acquired, the excess of the loan balance over fair value, less estimated selling costs, is charged to the allowance for loan losses. If further declines in the estimated fair value of the asset occur, a writedown is recorded through expense. The valuation of foreclosed and repossessed assets is subjective in nature and may be adjusted in the future because of changes in economic conditions. Operating costs after acquisition are generally expensed. Operating Lease Equipment On an annual basis, the Company reviews the lease residuals and off-lease equipment for potential impairment. Repossessed assets are also available for lease and are included in operating lease equipment reviewed. Operating lease equipment is recorded at estimated fair value, generally determined by independent appraisal. If declines in the estimated fair value of the asset occur, a writedown is recorded through expense. The following tables provide the level of valuation assumptions used to determine the carrying value of our assets measured at fair value on a non-recurring basis that have changed for the periods ended March 31, 2021 and December 31, 2020. For the three months ended March 31, 2021, there was no change to the carrying value of other real estate owned or operating lease equipment. For the three months ended December 31, 2020, there was no change to the carrying value of other real estate owned or collateral dependent loans. Security Type Valuation Technique Unobservable Input Range Weighted Average Input Carrying Value at March 31, 2021 Minimum Maximum Total Level 1 Level 2 Level 3 (In thousands) MSR, net Estimated cash flow Prepayment speeds 1.5% 23.9% 14.16% $ 11,409 — — 11,409 Collateral-dependent loans Market comparable Lack of marketability 0.60% 2.10% 4.38% 1,944 — — 1,944 $ 13,353 — — 13,353 Security Type Valuation Technique Unobservable Input Range Weighted Average Input Carrying Value at December 31, 2020 Minimum Maximum Total Level 1 Level 2 Level 3 (In thousands) MSR, net Estimated cash flow Prepayment speeds 14.5% 23.6% 17.76% $ 10,663 — — 10,663 Operating lease equipment Market comparable Lack of marketability 0.0% 10.4% 10.41% 15,007 — — 15,007 $ 25,670 — — 25,670 Other Fair Value Disclosures Fair value estimates, methods and assumptions for the Company’s financial instruments that are not recorded at fair value on a recurring or non-recurring basis are set forth below. Cash and Cash Equivalents For cash, short-term U.S. Treasury securities and due from banks, the carrying amount approximates fair value. Debt Securities Held-to-Maturity, net Our debt securities held-to-maturity portfolio, consisting primarily of agency mortgage-backed securities and other debt securities for which we have a positive intent and ability to hold to maturity, is carried at amortized cost less any allowance for credit losses. The fair values of for the majority of debt securities held-to-maturity are provided by a third-party pricing service. The pricing service may use quoted market prices of comparable instruments or a variety of other forms of analysis, incorporating inputs that are currently observable in the markets for similar securities (Level 2). Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and non-binding broker quotes. As the Company is responsible for the determination of fair value, a quarterly analysis of the prices received from the pricing service is performed to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to a secondary pricing source. Additionally, the Company compares changes in the reported market values to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and the review of the fair value methodology documentation provided by the independent pricing services has not resulted in material adjustments in the prices obtained from the pricing services. For certain held-to-maturity debt securities that trade in illiquid markets, valuation techniques, which require inputs that are both significant to the fair value measurement and unobservable, are used to determine fair value of the investment. Valuation techniques are based on various assumptions, including, but not limited to forecasted cash flows, discount rates, required rate of return, adjustments for nonperformance and liquidity, and liquidation values (Level 3). FHLB Stock The fair value of the Federal Home Loan Bank of New York (“FHLB”) stock is its carrying value, since this is the amount for which it could be redeemed. There is no active market for FHLB stock. The Bank is required to hold and purchase FHLB stock based upon the balance of mortgage related assets held by the member and the amount of outstanding FHLB advances. Loans Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential mortgage and consumer. Each loan category is further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories. The fair value estimates are made at a specific point in time based on relevant market information. The fair value estimates do not reflect any premium or discount that could result from offering for sale a particular financial instrument. Fair value estimates are based on judgments regarding future expected loss experience, risk characteristics and economic conditions. These estimates are subjective, involve uncertainties, and cannot be determined with precision. Loans Held for Sale Residential mortgage loans held for sale are recorded at the lower of cost or fair value and are therefore measured at fair value on a non-recurring basis. When available, the Company uses observable secondary market data, including pricing on recent closed market transactions for loans with similar characteristics. Deposit Liabilities The fair value of deposits with no stated maturity, such as savings, checking and money market accounts, is equal to the amount payable on demand. The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using rates for currently offered deposits of similar remaining maturities. Borrowings The fair value of borrowings are based on securities dealers’ estimated fair values, when available, or estimated using discounted cash flow analysis. The discount rates used approximate the rates offered for similar borrowings of similar remaining terms. Commitments to Extend Credit The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For commitments to originate fixed rate loans, fair value also considers the difference between current levels of interest rates and the committed rates. Due to the short-term nature of our outstanding commitments, the fair values of these commitments are immaterial to our financial condition. The carrying values and estimated fair values of the Company’s financial instruments are presented in the following table. March 31, 2021 Carrying Estimated Fair Value value Total Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 173,273 173,273 173,273 — — Equities 25,727 25,727 25,727 — — Debt securities available-for-sale 2,682,938 2,682,938 — 2,682,938 — Debt securities held-to-maturity, net 1,191,771 1,243,268 — 1,173,319 69,949 FHLB stock 177,351 177,351 177,351 — — Loans held for sale 1,378 1,378 — 1,378 — Net loans 20,572,661 20,554,149 — — 20,554,149 Derivative financial instruments 14,114 14,114 — 14,114 — Financial liabilities: Deposits, other than time deposits $ 16,457,460 16,457,460 16,457,460 — — Time deposits 2,533,568 2,538,406 — 2,538,406 — Borrowed funds 3,558,324 3,616,582 — 3,616,582 — Derivative financial instruments 16,792 16,792 — 16,792 — December 31, 2020 Carrying Estimated Fair Value value Total Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 170,432 170,432 170,432 — — Equities 36,000 36,000 36,000 — — Debt securities available-for-sale 2,758,437 2,758,437 — 2,758,437 — Debt securities held-to-maturity, net 1,247,853 1,320,872 — 1,253,566 67,306 FHLB stock 159,829 159,829 159,829 — — Loans held for sale 30,357 30,357 — 30,357 — Net loans 20,580,451 20,787,917 — — 20,787,917 Derivative financial instruments 34,577 34,577 — 34,577 — Financial liabilities: Deposits, other than time deposits $ 16,807,240 16,807,240 16,807,240 — — Time deposits 2,718,179 2,726,230 — 2,726,230 — Borrowed funds 3,295,790 3,367,491 — 3,367,491 — Derivative financial instruments 492 492 — 492 — Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets that are not considered financial assets include deferred tax assets, premises and equipment and bank owned life insurance. Liabilities for pension and other postretirement benefits are not considered financial liabilities. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s contracts with customers in the scope of Topic 606, Revenue from Contracts with Customers , are contracts for deposit accounts and contracts for non-deposit investment accounts through a third-party service provider. Both types of contracts result in non-interest income being recognized. The revenue resulting from deposit accounts, which includes fees such as insufficient funds fees, wire transfer fees and out-of-network ATM transaction fees, is included as a component of fees and service charges on the Consolidated Statements of Income. The revenue resulting from non-deposit investment accounts is included as a component of other income on the Consolidated Statements of Income. Revenue from contracts with customers included in fees and service charges and other income was as follows: Three Months Ended March 31, 2021 2020 (Dollars in thousands) Revenue from contracts with customers included in: Fees and service charges $ 3,598 3,950 Other income 4,573 3,019 Total revenue from contracts with customers $ 8,171 6,969 For our contracts with customers, we satisfy our performance obligations each day as services are rendered. For our deposit account revenue, we receive payment on a daily basis as services are rendered and for our non-deposit investment account revenue, we receive payment on a monthly basis from our third-party service provider as services are rendered.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Standard Description Required date of adoption Effect on Consolidated Financial Statements Standards Adopted in 2021 Codification Improvements The amendments include all disclosure guidance in the Disclosure Section to reduce the potential that disclosure requirements would be missed. January 1, 2021 The amendments in ASU 2020-10 do not change current GAAP. The update did not impact the Company’s Consolidated Financial Statements. Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs The amendments in this update clarify guidance as to whether a callable debt security with multiple call dates is within the scope of paragraph 310-20-35-33. January 1, 2021 The amendments in ASU 2020-08 will be applied under a prospective approach. The adoption of this ASU did not have a material impact on the Company’s Consolidated Financial Statements. Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force) This update clarifies the application of the alternative provided in ASU 2016-01 to measure certain equity securities without a readily determinable fair value. The amendments in this update clarify that a company should consider observable transactions that require it to either apply or discontinue the equity method of accounting under Topic 323 for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments further provide clarification related to the accounting for certain forward contracts and purchased options. January 1, 2021 The amendments in ASU 2020-01 will be applied prospectively. The Company does not currently apply the measurement alternative in Topic 321 to any of its investments and the update did not have a material impact on the Company’s Consolidated Financial Statements. Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The amendments simplify the accounting for income taxes by removing certain exceptions to general principles in Topic 740 and also clarify and amend existing guidance. January 1, 2021 The Company adopted ASU 2019-12 with no material impact on its Consolidated Financial Statements. Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing disclosures that no longer are considered cost beneficial, clarifying the specific requirements of disclosures, and adding disclosure requirements identified as relevant. January 1, 2021 ASU 2018-14 will be applied under a retrospective approach to disclosures with regard to the Company’s employee benefit plans. The adoption of this update did not have a material impact on the Company’s Consolidated Financial Statements. Standards Not Yet Adopted Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The amendments simplify the accounting for certain financial instruments with the characteristics of liabilities and equity by reducing the number of models for convertible debt instruments and convertible preferred stock and amends how convertible instruments and equity contracts with an option to be settled in cash or shares affect the EPS calculation. January 1, 2022 Early adoption permitted not earlier than fiscal years beginning 2021 The amendments are to be applied under either a modified retrospective or a fully retrospective approach. The update is not expected to have a material impact on the Company’s Consolidated Financial Statements. Standard Description Required date of adoption Effect on Consolidated Financial Statements Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting The amendments provide expedients and exceptions for applying GAAP to contracts or hedging relationships affected by the discontinuance of LIBOR as a benchmark rate to alleviate the burden and cost of such modifications. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments also provide a one-time election to sell and/or transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform. Effective for a limited time as of March 12, 2020 through December 31, 2022 The Company continues to evaluate its financial instruments indexed to USD-LIBOR for which Topic 848 provides expedients, exceptions and elections. The Company has established a crossfunctional team to develop transition plans to address potential revisions to documentation, as well as customer management and communication, internal training, financial, operational and risk management implications, and legal and contract management. In addition, the Company has engaged with its regulators and with industry working groups and trade associations to develop strategies for transitioning away from LIBOR. Reference Rate Reform (Topic 848) The update specifically addresses whether Topic 848 applies to derivative instruments that do not reference a rate that is expected to be discontinued but that instead use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform, commonly referred to as the “discounting transition.” This ASU extends certain optional expedients provided in Topic 848 to contract modifications and derivatives affected by the discounting transition. Effective for a limited time as of March 12, 2020 through December 31, 2022 The amendments in ASU 2021-01 may be applied under a retrospective approach as of any date from the beginning of an interim period that includes or is after March 12, 2020 or prospectively to new modifications made on or after any date within the interim period including January 7, 2021. The Update is not expected to have a material impact on the Company’s Consolidated Financial Statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events As defined in FASB ASC 855, “ Subsequent Events ”, subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued or available to be issued. Financial statements are considered issued when they are widely distributed to stockholders and other financial statement users for general use and reliance in a form and format that complies with U.S. GAAP. Dividend On April 28, 2021, the Company declared a cash dividend of $0.14 per share. The $0.14 dividend per share will be paid to stockholders on May 25, 2021, with a record date of May 10, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Principles (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements are comprised of the accounts of Investors Bancorp, Inc. and its wholly owned subsidiary, Investors Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries (collectively, the “Company”). All significant intercompany transactions have been eliminated in consolidation. In the opinion of management, all the adjustments (consisting of normal and recurring adjustments) necessary for the fair presentation of the consolidated financial condition and the consolidated results of operations for the unaudited periods presented have been included. The results of operations and other data presented for the three months ended March 31, 2021 are not necessarily indicative of the results of operations that may be expected for subsequent periods or the full year results. Certain information and note disclosures usually included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for the preparation of the Form 10-Q. The consolidated financial statements presented 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 December 31, 2020 Annual Report on Form 10-K. Certain reclassifications have been made in the consolidated financial statements to conform with current year classifications. The accounting and reporting policies of the Company conform to U.S. GAAP and to general practice within the financial services industry. A discussion of these policies can be found in Note 1, Summary of Significant Accounting Policies, included in the Company’s 2020 Annual Report on Form 10-K. There have been no changes to the Company’s significant accounting policies since December 31, 2020.
Recent Accounting Pronouncements	Standard Description Required date of adoption Effect on Consolidated Financial Statements Standards Adopted in 2021 Codification Improvements The amendments include all disclosure guidance in the Disclosure Section to reduce the potential that disclosure requirements would be missed. January 1, 2021 The amendments in ASU 2020-10 do not change current GAAP. The update did not impact the Company’s Consolidated Financial Statements. Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs The amendments in this update clarify guidance as to whether a callable debt security with multiple call dates is within the scope of paragraph 310-20-35-33. January 1, 2021 The amendments in ASU 2020-08 will be applied under a prospective approach. The adoption of this ASU did not have a material impact on the Company’s Consolidated Financial Statements. Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force) This update clarifies the application of the alternative provided in ASU 2016-01 to measure certain equity securities without a readily determinable fair value. The amendments in this update clarify that a company should consider observable transactions that require it to either apply or discontinue the equity method of accounting under Topic 323 for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments further provide clarification related to the accounting for certain forward contracts and purchased options. January 1, 2021 The amendments in ASU 2020-01 will be applied prospectively. The Company does not currently apply the measurement alternative in Topic 321 to any of its investments and the update did not have a material impact on the Company’s Consolidated Financial Statements. Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The amendments simplify the accounting for income taxes by removing certain exceptions to general principles in Topic 740 and also clarify and amend existing guidance. January 1, 2021 The Company adopted ASU 2019-12 with no material impact on its Consolidated Financial Statements. Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans. The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing disclosures that no longer are considered cost beneficial, clarifying the specific requirements of disclosures, and adding disclosure requirements identified as relevant. January 1, 2021 ASU 2018-14 will be applied under a retrospective approach to disclosures with regard to the Company’s employee benefit plans. The adoption of this update did not have a material impact on the Company’s Consolidated Financial Statements. Standards Not Yet Adopted Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The amendments simplify the accounting for certain financial instruments with the characteristics of liabilities and equity by reducing the number of models for convertible debt instruments and convertible preferred stock and amends how convertible instruments and equity contracts with an option to be settled in cash or shares affect the EPS calculation. January 1, 2022 Early adoption permitted not earlier than fiscal years beginning 2021 The amendments are to be applied under either a modified retrospective or a fully retrospective approach. The update is not expected to have a material impact on the Company’s Consolidated Financial Statements. Standard Description Required date of adoption Effect on Consolidated Financial Statements Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting The amendments provide expedients and exceptions for applying GAAP to contracts or hedging relationships affected by the discontinuance of LIBOR as a benchmark rate to alleviate the burden and cost of such modifications. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments also provide a one-time election to sell and/or transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform. Effective for a limited time as of March 12, 2020 through December 31, 2022 The Company continues to evaluate its financial instruments indexed to USD-LIBOR for which Topic 848 provides expedients, exceptions and elections. The Company has established a crossfunctional team to develop transition plans to address potential revisions to documentation, as well as customer management and communication, internal training, financial, operational and risk management implications, and legal and contract management. In addition, the Company has engaged with its regulators and with industry working groups and trade associations to develop strategies for transitioning away from LIBOR. Reference Rate Reform (Topic 848) The update specifically addresses whether Topic 848 applies to derivative instruments that do not reference a rate that is expected to be discontinued but that instead use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform, commonly referred to as the “discounting transition.” This ASU extends certain optional expedients provided in Topic 848 to contract modifications and derivatives affected by the discounting transition. Effective for a limited time as of March 12, 2020 through December 31, 2022 The amendments in ASU 2021-01 may be applied under a retrospective approach as of any date from the beginning of an interim period that includes or is after March 12, 2020 or prospectively to new modifications made on or after any date within the interim period including January 7, 2021. The Update is not expected to have a material impact on the Company’s Consolidated Financial Statements.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Summarizes the estimated fair values of the assets acquired and liabilities	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for Gold Coast, net of cash consideration paid: At April 3, 2020 (In millions) Cash and cash equivalents $ 7.3 Debt securities available-for-sale 51.5 Debt securities held to maturity 8.4 Loans receivable, net 443.5 Accrued interest receivable 1.3 Right-of-use assets 3.7 Net deferred tax asset 3.9 Intangible assets 14.5 Other assets 1.2 Total assets acquired 535.3 Deposits 489.9 Borrowed funds 14.9 Other liabilities 9.7 Total liabilities assumed 514.5 Net assets acquired $ 20.8
Summary of purchased loans for credit quality carrying amount	the Company has purchased loans which have been determined to be PCD. The carrying amount of those loans was as follows: At April 3, 2020 (In millions) Purchase price of loans at acquisition $ 244.7 Allowance for credit losses at acquisition 4.2 Non-credit discount at acquisition 2.6 Par value of acquired loans at acquisition $ 251.5

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of our earnings per share calculations and reconciliation of basic to diluted earnings per share	Earnings Per Share The following is a summary of our earnings per share calculations and reconciliation of basic to diluted earnings per share. For the Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Earnings for basic and diluted earnings per common share Earnings applicable to common stockholders $ 72,275 $ 39,512 Shares Weighted-average common shares outstanding - basic 234,661,847 233,262,860 Effect of dilutive common stock equivalents (1) 717,534 369,981 Weighted-average common shares outstanding - diluted 235,379,381 233,632,841 Earnings per common share Basic $ 0.31 $ 0.17 Diluted $ 0.31 $ 0.17 (1) For the three months ended March 31, 2021 and 2020, there were 4,274,030 and 5,798,379 equity awards, respectively, that could potentially dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of disaggregated net gains and losses on equity securities	The following table presents the disaggregated net gains and losses on equity securities reported in the Consolidated Statements of Income: Three Months Ended March 31, 2021 2020 (In thousands) Unrealized gains recognized on equity securities $ 711 78 Net losses recognized on equity securities sold (458) — Net gains recognized on equity securities $ 253 78
Summary of securities	The following tables present the amortized cost, gross unrealized gains and losses, and estimated fair value for available-for-sale debt securities and the amortized cost, net unrealized losses, carrying value, gross unrecognized gains and losses, estimated fair value and allowance for credit losses for held-to-maturity debt securities as of the dates indicated. At March 31, 2021 Amortized Gross Gross Estimated (In thousands) Available-for-sale: Debt securities: Government-sponsored enterprises $ 4,164 206 — 4,370 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,231,813 26,948 4,908 1,253,853 Federal National Mortgage Association 1,205,340 32,036 7,141 1,230,235 Government National Mortgage Association 190,954 4,214 688 194,480 Total mortgage-backed securities available-for-sale 2,628,107 63,198 12,737 2,678,568 Total debt securities available-for-sale $ 2,632,271 63,404 12,737 2,682,938 At March 31, 2021 Amortized cost Net unrealized losses (1) Carrying value Gross unrecognized gains (2) Gross unrecognized losses (2) Estimated (In thousands) Held-to-maturity: Debt securities: Government-sponsored enterprises $ 133,797 — 133,797 1,410 4,786 130,421 Municipal bonds 234,957 — 234,957 10,562 65 245,454 Corporate and other debt securities 144,176 13,395 130,781 22,147 904 152,024 Total debt securities held-to-maturity 512,930 13,395 499,535 34,119 5,755 527,899 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 280,683 54 280,629 5,737 3,679 282,687 Federal National Mortgage Association 377,412 146 377,266 17,331 142 394,455 Government National Mortgage Association 36,679 — 36,679 1,548 — 38,227 Total mortgage-backed securities held-to-maturity 694,774 200 694,574 24,616 3,821 715,369 Total debt securities held-to-maturity $ 1,207,704 13,595 1,194,109 58,735 9,576 1,243,268 Allowance for credit losses 2,338 Total debt securities held-to-maturity, net of allowance for credit losses 1,191,771 (1) Net unrealized losses of held-to-maturity corporate and other debt securities represent the other than temporary impairment related to other non-credit factors recorded prior to the adoption of the current expected credit losses accounting standard on January 1, 2020 that is being amortized through accumulated other comprehensive income over the remaining life of the securities. For mortgage-backed securities, it represents the net loss on previously designated available-for-sale debt securities transferred to held-to-maturity at fair value and is being amortized through accumulated other comprehensive income over the remaining life of the securities. (2) Unrecognized gains and losses of held-to-maturity debt securities are not reflected in the financial statements, as they represent fair value fluctuations from the later of: (i) the date a security is designated as held-to-maturity; or (ii) the date that an other than temporary impairment charge is recognized on a held-to-maturity security, through the date of the balance sheet. Effective January 1, 2020, held-to-maturity debt securities are evaluated for credit losses to determine if an allowance is necessary. Any allowance required is recorded through the provision for credit losses. At December 31, 2020 Amortized Gross Gross Estimated (In thousands) Available-for-sale: Debt securities: Government-sponsored enterprises $ 4,260 222 — 4,482 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,286,195 30,930 73 1,317,052 Federal National Mortgage Association 1,167,057 38,568 199 1,205,426 Government National Mortgage Association 225,810 5,700 33 231,477 Total mortgage-backed securities available-for-sale 2,679,062 75,198 305 2,753,955 Total debt securities available-for-sale $ 2,683,322 75,420 305 2,758,437 At December 31, 2020 Amortized cost Net unrealized losses (1) Carrying Gross unrecognized gains (2) Gross unrecognized losses (2) Estimated (In thousands) Held-to-maturity: Debt securities: Government-sponsored enterprises $ 109,016 — 109,016 4,107 709 112,414 Municipal bonds 246,601 — 246,601 14,990 — 261,591 Corporate and other debt securities 144,209 13,644 130,565 20,033 885 149,713 Total debt securities held-to-maturity 499,826 13,644 486,182 39,130 1,594 523,718 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 308,285 66 308,219 9,733 266 317,686 Federal National Mortgage Association 413,601 175 413,426 20,905 — 434,331 Government National Mortgage Association 43,290 — 43,290 1,847 — 45,137 Total mortgage-backed securities held-to-maturity 765,176 241 764,935 32,485 266 797,154 Total debt securities held-to-maturity $ 1,265,002 13,885 1,251,117 71,615 1,860 1,320,872 Allowance for credit losses 3,264 Total debt securities held-to-maturity, net of allowance for credit losses 1,247,853 (1) Net unrealized losses of held-to-maturity corporate and other debt securities represent the other than temporary impairment related to other non-credit factors recorded prior to the adoption of the current expected credit losses accounting standard on January 1, 2020 that is being amortized through accumulated other comprehensive income over the remaining life of the securities. For mortgage-backed securities, it represents the net loss on previously designated available-for-sale debt securities transferred to held-to-maturity at fair value and is being amortized through accumulated other comprehensive income over the remaining life of the securities.
Schedule of gross unrealized losses on debt securities and the estimated fair value of the related securities, aggregated by investment category	Gross unrealized losses on debt securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2021 and December 31, 2020, were as follows: March 31, 2021 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In thousands) Available-for-sale: Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 178,902 4,908 — — 178,902 4,908 Federal National Mortgage Association 387,186 7,141 — — 387,186 7,141 Government National Mortgage Association 34,027 688 — — 34,027 688 Total debt securities available-for-sale 600,115 12,737 — — 600,115 12,737 Held-to-maturity: Debt securities: Government-sponsored enterprises 87,397 4,786 — — 87,397 4,786 Municipal bonds 3,371 65 — — 3,371 65 Corporate and other debt securities 23,838 904 — — 23,838 904 Total debt securities held-to-maturity 114,606 5,755 — — 114,606 5,755 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 100,202 3,679 — — 100,202 3,679 Federal National Mortgage Association 9,234 142 — — 9,234 142 Total mortgage-backed securities held-to-maturity 109,436 3,821 — — 109,436 3,821 Total debt securities held-to-maturity 224,042 9,576 — — 224,042 9,576 Total $ 824,157 22,313 — — 824,157 22,313 December 31, 2020 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In thousands) Available-for-sale: Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 60,502 73 — — 60,502 73 Federal National Mortgage Association 123,329 199 — — 123,329 199 Government National Mortgage Association 9,062 33 — — 9,062 33 Total debt securities available-for-sale 192,893 305 — — 192,893 305 Held-to-maturity: Debt securities: Government-sponsored enterprises 66,558 709 — — 66,558 709 Corporate and other debt securities 15,038 885 — — 15,038 885 Total debt securities held-to-maturity 81,596 1,594 — — 81,596 1,594 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 40,013 266 — — 40,013 266 Total debt securities held-to-maturity 121,609 1,860 — — 121,609 1,860 Total $ 314,502 2,165 — — 314,502 2,165
Summary of amortized cost and estimated fair value of debt securities by contract maturity	Excluding the allowance for credit losses, the amortized cost and estimated fair value of debt securities other than mortgage-backed securities at March 31, 2021, by contractual maturity, are shown below. March 31, 2021 Carrying Estimated (In thousands) Due in one year or less $ 40,776 40,776 Due after one year through five years 10,249 10,448 Due after five years through ten years 162,679 163,078 Due after ten years 289,995 317,967 Total $ 503,699 532,269

Loans Receivable, Net (Tables)

Loans Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Schedule of loan portfolio	The detail of the loan portfolio as of March 31, 2021 and December 31, 2020 was as follows: March 31, December 31, (In thousands) Multi-family loans $ 7,230,501 7,122,840 Commercial real estate loans 4,997,364 4,947,212 Commercial and industrial loans 3,642,178 3,575,641 Construction loans 393,516 404,367 Total commercial loans 16,263,559 16,050,060 Residential mortgage loans 3,911,884 4,119,894 Consumer and other loans 695,793 702,801 Total loans 20,871,236 20,872,755 Deferred fees, premiums and accretable purchase accounting adjustments, net (14,815) (9,318) Allowance for credit losses (283,760) (282,986) Net loans $ 20,572,661 20,580,451
Schedule of financing receivable credit quality indicators	The following table presents the risk category of loans as of March 31, 2021 by class of loan and vintage year: Term Loans by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Total (In thousands) Multi-family Pass $ 385,367 998,208 479,080 796,142 548,043 1,774,521 7,472 4,988,833 Watch — 18,530 174,309 449,463 155,695 600,992 1,340 1,400,329 Special mention — — 3,572 99,001 44,012 267,088 — 413,673 Substandard — — 10,818 16,686 20,962 377,809 1,391 427,666 Total Multi-family 385,367 1,016,738 667,779 1,361,292 768,712 3,020,410 10,203 7,230,501 Commercial real estate Pass 156,520 523,685 693,388 587,853 451,379 1,498,160 30,154 3,941,139 Watch 1,466 90,432 117,359 160,517 67,750 222,648 4,633 664,805 Special mention — 379 7,115 5,263 15,235 121,747 1,437 151,176 Substandard — — — 20,143 45,438 174,663 — 240,244 Total Commercial real estate 157,986 614,496 817,862 773,776 579,802 2,017,218 36,224 4,997,364 Commercial and industrial Pass 202,203 941,163 605,057 295,238 173,597 477,570 218,366 2,913,194 Watch 14,290 37,488 104,910 43,117 23,277 51,986 46,805 321,873 Special mention — 16,606 119,581 57,818 13,162 88,109 1,475 296,751 Substandard — — 6,570 8,041 47,073 33,179 15,497 110,360 Total Commercial and industrial 216,493 995,257 836,118 404,214 257,109 650,844 282,143 3,642,178 Construction Pass 10,948 106,307 53,047 — — — 167,777 338,079 Watch — 6,902 5,350 — — — — 12,252 Special mention — — — 23,375 — — 19,810 43,185 Substandard — — — — — — — — Total Construction 10,948 113,209 58,397 23,375 — — 187,587 393,516 Residential mortgage Pass 303,000 547,273 359,835 350,977 422,900 1,763,869 — 3,747,854 Watch — 1,730 16,013 11,811 17,178 66,558 — 113,290 Special mention — — — 156 521 1,419 — 2,096 Substandard — — 1,523 1,941 1,331 43,754 95 48,644 Total residential mortgage 303,000 549,003 377,371 364,885 441,930 1,875,600 95 3,911,884 Consumer and other Pass 1,827 2,664 6,198 5,237 8,241 57,948 603,298 685,413 Watch — — 38 137 3,167 535 3,355 7,232 Special mention — — — — 792 4 279 1,075 Substandard — — — — — 1,631 442 2,073 Total Consumer and other 1,827 2,664 6,236 5,374 12,200 60,118 607,374 695,793 Total $ 1,075,621 3,291,367 2,763,763 2,932,916 2,059,753 7,624,190 1,123,626 20,871,236 The following table presents the risk category of loans as of December 31, 2020 by class of loan and vintage year: Term Loans by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Total (In thousands) Multi-family Pass $ 1,002,259 515,446 912,910 601,440 850,781 1,199,133 6,986 5,088,955 Watch 21,366 153,404 374,363 135,348 299,413 220,668 — 1,204,562 Special mention 4,560 — 86,119 32,506 48,020 205,916 — 377,121 Substandard — 7,285 8,436 17,580 139,975 277,535 1,391 452,202 Total Multi-family 1,028,185 676,135 1,381,828 786,874 1,338,189 1,903,252 8,377 7,122,840 Commercial real estate Pass 529,244 684,807 646,708 461,097 495,822 1,081,512 32,509 3,931,699 Watch 87,137 132,932 117,598 74,379 61,794 165,702 3,428 642,970 Special mention 375 6,988 5,279 13,295 51,880 71,745 250 149,812 Substandard — — 8,212 40,024 29,488 144,758 249 222,731 Total Commercial real estate 616,756 824,727 777,797 588,795 638,984 1,463,717 36,436 4,947,212 Commercial and industrial Pass 1,007,949 619,275 328,917 156,596 176,557 348,278 203,302 2,840,874 Watch 49,208 115,888 43,791 48,230 28,708 34,697 31,931 352,453 Special mention 16,813 111,399 48,887 14,770 14,102 76,554 798 283,323 Substandard — 6,128 8,236 42,297 4,341 22,707 15,282 98,991 Total Commercial and industrial 1,073,970 852,690 429,831 261,893 223,708 482,236 251,313 3,575,641 Construction Pass 85,915 58,041 23,375 — — — 197,437 364,768 Watch 6,891 5,350 — — — — — 12,241 Special mention — — 15,228 — — — — 15,228 Substandard — — — — — — 12,130 12,130 Total Construction 92,806 63,391 38,603 — — — 209,567 404,367 Residential mortgage Pass 556,761 450,363 425,617 530,676 407,201 1,601,457 — 3,972,075 Watch 809 12,929 13,465 14,704 8,517 44,299 — 94,723 Special mention — — 584 — — 3,402 — 3,986 Substandard — 1,523 1,972 1,336 246 43,936 97 49,110 Total residential mortgage 557,570 464,815 441,638 546,716 415,964 1,693,094 97 4,119,894 Consumer and other Pass 5,031 6,853 5,693 7,448 6,692 57,103 601,481 690,301 Watch — 39 137 56 156 440 7,655 8,483 Special mention — — — — — 292 1,184 1,476 Substandard — — — — — 1,796 745 2,541 Total Consumer and other 5,031 6,892 5,830 7,504 6,848 59,631 611,065 702,801 Total $ 3,374,318 2,888,650 3,075,527 2,191,782 2,623,693 5,601,930 1,116,855 20,872,755
Schedule of payment status of the recorded investment in past due loans	The following tables present the payment status of the recorded investment in past due loans as of March 31, 2021 and December 31, 2020 by class of loans: March 31, 2021 30-59 Days 60-89 Days Greater Total Past Current Total (In thousands) Commercial loans: Multi-family $ 19,176 3,434 16,693 39,303 7,191,198 7,230,501 Commercial real estate 11,458 2,660 7,862 21,980 4,975,384 4,997,364 Commercial and industrial 7,375 200 3,204 10,779 3,631,399 3,642,178 Construction — — — — 393,516 393,516 Total commercial loans 38,009 6,294 27,759 72,062 16,191,497 16,263,559 Residential mortgage 10,135 2,374 29,681 42,190 3,869,694 3,911,884 Consumer and other 3,714 1,075 1,548 6,337 689,456 695,793 Total $ 51,858 9,743 58,988 120,589 20,750,647 20,871,236 December 31, 2020 30-59 Days 60-89 Days Greater Total Past Current Total (In thousands) Commercial loans: Multi-family $ 7,421 — 32,884 40,305 7,082,535 7,122,840 Commercial real estate 12,805 2,450 6,356 21,611 4,925,601 4,947,212 Commercial and industrial 986 3,116 1,769 5,871 3,569,770 3,575,641 Construction — — — — 404,367 404,367 Total commercial loans 21,212 5,566 41,009 67,787 15,982,273 16,050,060 Residential mortgage 13,768 4,258 29,124 47,150 4,072,744 4,119,894 Consumer and other 5,645 1,476 1,984 9,105 693,696 702,801 Total $ 40,625 11,300 72,117 124,042 20,748,713 20,872,755
Schedule of non-accrual loans status	The following table presents non-accrual loans at the dates indicated: March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) Non-accrual: Multi-family 13 $ 19,179 15 $ 35,567 Commercial real estate 25 14,039 29 15,894 Commercial and industrial 15 4,390 21 9,212 Construction — — — — Total commercial loans 53 37,608 65 60,673 Residential mortgage and consumer 239 45,703 246 46,452 Total non-accrual loans 292 $ 83,311 311 $ 107,125 The following table presents individually evaluated collateral-dependent loans by class of loans at the dates indicated: March 31, 2021 December 31, 2020 Real Estate Other Total Real Estate Other Total (Dollars in thousands) Multi-family $ 17,389 — 17,389 $ 31,484 — 31,484 Commercial real estate 7,424 — 7,424 8,758 — 8,758 Commercial and industrial 2,646 930 3,576 2,994 3,549 6,543 Construction — — — — — — Total commercial loans 27,459 930 28,389 43,236 3,549 46,785 Residential mortgage and consumer 24,359 97 24,456 25,158 103 25,261 Total collateral-dependent loans $ 51,818 1,027 52,845 $ 68,394 3,652 72,046 March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) TDR with payment status current classified as non-accrual: Commercial real estate 3 $ 4,362 3 $ 3,907 Residential mortgage and consumer 33 5,636 32 5,634 Total TDR with payment status current classified as non-accrual 36 $ 9,998 35 $ 9,541 The following table presents TDR loans which were also 30-89 days delinquent and classified as non-accrual at the dates indicated: March 31, 2021 December 31, 2020 # of loans Amount # of loans Amount (Dollars in thousands) TDR 30-89 days delinquent classified as non-accrual: Commercial real estate — $ — 1 $ 1,780 Residential mortgage and consumer 9 726 10 942 Total TDR 30-89 days delinquent classified as non-accrual 9 $ 726 11 $ 2,722
Schedule of troubled debt restructured loans	The following tables present the total TDR loans at March 31, 2021 and December 31, 2020: March 31, 2021 Accrual Non-accrual Total # of loans Amount # of loans Amount # of loans Amount (Dollars in thousands) Commercial loans: Commercial real estate — $ — 3 $ 4,362 3 $ 4,362 Commercial and industrial 2 930 — — 2 930 Total commercial loans 2 930 3 4,362 5 5,292 Residential mortgage and consumer 43 8,165 82 16,291 125 24,456 Total 45 $ 9,095 85 $ 20,653 130 $ 29,748 December 31, 2020 Accrual Non-accrual Total # of loans Amount # of loans Amount # of loans Amount (Dollars in thousands) Commercial loans: Commercial real estate — $ — 4 $ 5,687 4 $ 5,687 Commercial and industrial 2 630 2 2,919 4 3,549 Total commercial loans 2 630 6 8,606 8 9,236 Residential mortgage and consumer 45 8,602 83 16,659 128 25,261 Total 47 $ 9,232 89 $ 25,265 136 $ 34,497
Schedule of troubled debt restructuring	The following tables present information about TDRs that occurred during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 Number of Pre-modification Post- Number of Pre-modification Post- (Dollars in thousands) Troubled Debt Restructurings: Commercial and industrial — $ — $ — 1 $ 933 $ 933
Schedule of troubled debt restructuring, interest yield	The following table presents information about pre and post modification interest yield for TDRs which occurred during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 Number of Pre-modification Post- Number of Pre-modification Post- Troubled Debt Restructurings: Commercial and industrial — — % — % 1 4.75 % 4.75 %

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2021
Credit Loss [Abstract]
Schedule of provisions for credit loss	An analysis of the provision for credit losses is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Provision for loan losses $ (961) 26,752 Provision for debt securities held-to-maturity (926) 431 Provision for off-balance sheet credit exposures (1,085) 4,043 Total provision for credit losses $ (2,972) 31,226
Schedule of financing receivable, allowance for credit loss	An analysis of the allowance for credit losses for loans receivable is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 282,986 228,120 Adjustment for adoption of ASC 326 — (3,551) Gross charge offs (681) (10,930) Recoveries 2,416 2,897 Net charge-offs 1,735 (8,033) Provision for credit loss expense (961) 26,752 Balance at end of the period $ 283,760 243,288
Summary of allowance for credit losses for loans by portfolio segment	The following tables present the balance in the allowance for credit losses for loans by portfolio segment as of March 31, 2021 and December 31, 2020: March 31, 2021 Multi- Commercial Commercial Construction Residential Consumer Unallocated Total (Dollars in thousands) Allowance for credit losses: Balance as of December 31, 2020 $ 56,731 115,918 79,327 7,267 19,941 3,802 — 282,986 Charge-offs (275) (30) (275) — (93) (8) — (681) Recoveries 1,393 45 915 — 58 5 — 2,416 Provision for credit loss expense 11,458 (14,325) 3,451 775 (2,358) 38 — (961) Ending balance-March 31, 2021 $ 69,307 101,608 83,418 8,042 17,548 3,837 — 283,760 December 31, 2020 Multi- Commercial Commercial Construction Residential Consumer Unallocated Total (Dollars in thousands) Allowance for credit losses: Balance as of December 31, 2019 $ 74,099 50,925 74,396 6,816 17,391 2,548 1,945 228,120 Adjustment for adoption of ASC 326 (9,741) (4,631) (7,511) (1,901) 20,089 2,089 (1,945) (3,551) Balance as of 64,358 46,294 66,885 4,915 37,480 4,637 — 224,569 Charge-offs (4,631) (521) (12,005) — (1,190) (41) — (18,388) Recoveries 1,965 412 4,459 — 677 222 — 7,735 Allowance at acquisition on loans purchased with credit deterioration 209 3,208 287 127 344 5 — 4,180 Provision for credit loss expense (5,170) 66,525 19,701 2,225 (17,370) (1,021) — 64,890 Ending balance-December 31, 2020 $ 56,731 115,918 79,327 7,267 19,941 3,802 — 282,986
Schedule of debt securities, held-to-maturity, allowance for credit loss	An analysis of the allowance for credit losses for debt securities held-to-maturity is summarized as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of the period $ 3,264 — Impact of adopting ASC 326 — 2,564 Provision for credit losses (926) 431 Balance at end of the period $ 2,338 2,995 The following tables present the balance in the allowance for credit losses for debt securities held-to-maturity by portfolio segment as of March 31, 2021: March 31, 2021 Municipal Bonds Corporate and Other Debt Securities Total (Dollars in thousands) Allowance for credit losses: Beginning balance-December 31, 2020 $ 34 3,230 3,264 Provision for credit loss (7) (919) (926) Ending balance-March 31, 2021 $ 27 2,311 2,338
Schedule of fair value, off-balance sheet risks	December 31, 2020 Municipal Bonds Corporate and Other Debt Securities Total (Dollars in thousands) Allowance for credit losses: Beginning balance - December 31, 2019 $ — — — Impact of adopting ASC 326 17 2,547 2,564 Provision for credit loss 17 683 700 Ending balance - December 31, 2020 $ 34 3,230 3,264 An analysis of the allowance for credit losses for off-balance sheet credit exposures is as follows: Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of the period $ 17,667 425 Impact of adopting ASC 326 — 12,674 Provision for credit losses (1,085) 4,043 Balance at end of the period $ 16,582 17,142

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Summary of deposits	Deposits are summarized as follows: March 31, 2021 December 31, 2020 (In thousands) Non-interest bearing: Checking accounts $ 3,837,297 3,663,073 Interest bearing: Checking accounts 6,101,528 6,043,393 Money market deposits 4,539,365 5,037,327 Savings 1,979,270 2,063,447 Certificates of deposit 2,533,568 2,718,179 Total deposits $ 18,991,028 19,525,419

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and intangible assets	The following table summarizes goodwill and intangible assets at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (In thousands) Mortgage servicing rights $ 11,776 10,957 Core deposit premiums 3,309 3,560 Other 560 581 Total other intangible assets 15,645 15,098 Goodwill 94,535 94,535 Goodwill and intangible assets $ 110,180 109,633
Summary of intangible assets	The following table summarizes other intangible assets as of March 31, 2021 and December 31, 2020: Gross Intangible Asset Accumulated Amortization Valuation Allowance Net Intangible Assets (In thousands) March 31, 2021 Mortgage servicing rights $ 17,975 (6,139) (60) 11,776 Core deposit premiums 23,063 (19,754) — 3,309 Other 1,150 (590) — 560 Total other intangible assets $ 42,188 (26,483) (60) 15,645 December 31, 2020 Mortgage servicing rights $ 17,559 (5,592) (1,010) 10,957 Core deposit premiums 23,063 (19,503) — 3,560 Other 1,150 (569) — 581 Total other intangible assets $ 41,772 (25,664) (1,010) 15,098

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of balance sheet information related to leases	The following table presents the balance sheet information related to our operating leases: March 31, 2021 December 31, 2020 (Dollars in thousands) Operating lease right-of-use assets $ 195,130 199,981 Operating lease liabilities 207,653 212,559 Weighted average remaining lease term 9.2 years 9.4 years Weighted average discount rate 2.48 % 2.49 %
Schedule of lease cost	The following table presents the components of total operating lease cost recognized in the Consolidated Statements of Income: Three Months Ended March 31, 2021 2020 (In thousands) Included in office occupancy and equipment expense: Operating lease cost $ 7,149 6,280 Short-term lease cost 216 86 Included in other income: Sublease income 51 67 The following table presents supplemental cash flow information related to operating leases: Three Months Ended March 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows from operating leases $ 7,262 5,707 Operating lease liabilities arising from obtaining right-of-use assets (non-cash): Operating leases 2,168 558
Schedule of maturity of operating lease liabilities	Future minimum operating lease payments and reconciliation to operating lease liabilities at March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 (In thousands) 2021 $ 21,659 28,844 2022 27,615 27,448 2023 26,534 26,354 2024 26,492 26,300 2025 25,842 25,496 Thereafter 104,808 104,729 Total lease payments 232,950 239,171 Less: Imputed interest (25,297) (26,612) Total operating lease liabilities $ 207,653 $ 212,559

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of share based compensation expense	The following table presents the share-based compensation expense for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In thousands) Stock option expense $ 910 988 Restricted stock expense 2,550 2,901 Total share-based compensation expense $ 3,460 3,889
Schedule of company’s stock option activity and related information	The following is a summary of the Company’s stock option activity and related information for the three months ended March 31, 2021: Number of Weighted Average Weighted Average Aggregate Outstanding at December 31, 2020 5,570,858 $ 12.46 4.5 $ 191 Granted — — — Exercised (175,830) 11.57 3.8 Forfeited (21,429) 12.54 Expired (14,286) 12.54 Outstanding at March 31, 2021 5,359,313 12.49 4.3 11,801 Exercisable at March 31, 2021 3,614,828 $ 12.47 4.3 $ 8,035
Schedule of status of the company’s restricted shares	The following is a summary of the status of the Company’s restricted shares as of March 31, 2021 and changes therein during the three months ended: Number of Shares Awarded Weighted Average Grant Date Fair Value Outstanding at December 31, 2020 1,974,235 $ 12.44 Granted 216,343 13.01 Vested (109,274) 13.59 Forfeited (8,567) 12.54 Outstanding and non-vested at March 31, 2021 2,072,737 $ 12.44

Net Periodic Benefit Plan Exp_2

Net Periodic Benefit Plan Expense (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Summary of net periodic benefit cost for the Directors’ Plan and the wage replacement plan	The components of net periodic benefit cost for the Directors’ Plan and the SERP II are as follows: Three Months Ended March 31, 2021 2020 (In thousands) Interest cost $ 250 324 Amortization of: Net loss 142 8 Total net periodic benefit cost $ 392 332

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of the company’s derivative financial instruments	Fair Values of Derivative Instruments on the Balance Sheet Amounts included in the Consolidated Balance Sheet related to the fair value of the Company’s derivative instruments are shown below. Asset derivatives depicted below represent derivatives with a positive fair value position, while liability derivatives represent derivatives with a negative fair value position. March 31, 2021 Asset Derivatives Liability Derivatives Notional Amount Fair Value Notional Amount Fair Value (in millions) (In thousands) (in millions) (In thousands) Derivatives designated as hedging instruments: Interest Rate Swaps $ 1,250 $ 36,505 $ 2,325 $ 91,835 Total derivatives designated as hedging instruments $ 36,505 $ 91,835 Derivatives not designated as hedging instruments: Interest Rate Swaps $ 693 $ 30,130 $ 693 $ 30,130 Other Contracts — — 34 108 Total derivatives not designated as hedging instruments $ 30,130 $ 30,238 Netting Adjustments (1) 52,521 105,281 Net Derivatives on the Balance Sheet $ 14,114 $ 16,792 Cash Collateral (2) — — Net Derivative Amounts $ 14,114 $ 16,792 (1) Netting adjustments represents the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The Chicago Mercantile Exchange (“CME”) legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. (2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above. December 31, 2020 Asset Derivatives Liability Derivatives Notional Amount Fair Value Notional Amount Fair Value (in millions) (In thousands) (in millions) (In thousands) Derivatives designated as hedging instruments: Interest Rate Swaps $ 400 $ 1,419 $ 2,925 $ 115,166 Total derivatives designated as hedging instruments $ 1,419 $ 115,166 Derivatives not designated as hedging instruments: Interest Rate Swaps $ 641 $ 34,155 $ 641 $ 34,155 Other Contracts — — 34 217 Total derivatives not designated as hedging instruments $ 34,155 $ 34,372 Netting Adjustments (1) 997 149,046 Net Derivatives on the Balance Sheet $ 34,577 $ 492 Cash Collateral (2) — 237 Net Derivative Amounts $ 34,577 $ 255 (1) Netting adjustments represents the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance on the settle to market rules for cleared derivatives. The Chicago Mercantile Exchange (“CME”) legally characterizes the variation margin posted between counterparties as settlements of the outstanding derivative contracts instead of cash collateral. (2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
Schedule of effect of the company’s derivative financial instruments on the consolidated statement of income	The following table presents the effect of the Company’s derivative financial instruments on the Accumulated Comprehensive Income (Loss) for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, 2021 2020 (In thousands) Cash Flow Hedges - Interest rate swaps Amount of gain (loss) recognized in other comprehensive income (loss) $ 48,121 (100,361) Amount of loss reclassified from accumulated other comprehensive income (loss) to interest expense (10,019) (2,089) The following table presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income as of March 31, 2021 and 2020. For the Three Months Ended March 31, 2021 2020 The effects of fair value and cash flow hedging: Income statement location (In thousands) Fair Value Hedges - Gain or (loss) on relationships in Subtopic 815-20 Interest contracts Hedged items Interest income $ 28 6,769 Derivatives designated as hedging instruments Interest income — (7,188) Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20 Interest contracts Amount of loss reclassified from accumulated other comprehensive income (loss) Interest expense (10,019) (2,089) Amount of gain or (loss) reclassified from accumulated other comprehensive income (loss) as a result that a forecasted transaction is no longer probable of occurring Other expense — — Total amounts of income and expense line items presented in the income statement in which the effects of fair value are recorded $ (9,991) (2,508)
Schedule of cumulative basis adjustment for fair value hedges	As of March 31, 2021 and December 31, 2020, the following amounts were recorded on the Consolidated Balance Sheets related to cumulative basis adjustment for fair value hedges: Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) Balance sheet location March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 (In thousands) Loans receivable, net (1)(2) $ 149,761 — $ 6,515 8,798 (1) At March 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $408.6 million; the cumulative basis adjustments associated with these hedging relationships was $6.5 million; and the amounts of the designated hedged items were $149.8 million. (2) The balance of Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) as of March 31, 2021 includes $6.8 million of hedging adjustment on discontinued hedging relationships.
Schedule of derivatives not designated as hedging instruments	The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the Consolidated Statements of Income as of March 31, 2021: Consolidated Statements of Income location Amount of Gain (Loss) Recognized in Income on Derivative For the Three Months Ended March 31, 2021 2020 (In thousands) Other Contracts Other income / (expense) $ 109 (129) Total $ 109 (129)

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of components of comprehensive income	The components of comprehensive income, gross and net of tax, are as follows: Three Months Ended March 31, 2021 2020 Gross Tax Net Gross Tax Net (Dollars in thousands) Net income $ 99,349 (27,074) 72,275 54,159 (14,647) 39,512 Other comprehensive income (loss): Change in funded status of retirement obligations 168 (47) 121 28 (8) 20 Unrealized (losses) gains on debt securities available-for-sale (24,050) 5,730 (18,320) 49,409 (11,781) 37,628 Accretion of loss on debt securities reclassified to held-to-maturity from available-for-sale 41 (10) 31 74 (18) 56 Reclassification adjustment for security gains included in net income (398) 99 (299) — — — Other-than-temporary impairment accretion on debt securities recorded prior to January 1, 2020 249 (70) 179 250 (70) 180 Net gains (losses) on derivatives 58,140 (16,343) 41,797 (98,272) 27,624 (70,648) Total other comprehensive income (loss) 34,150 (10,641) 23,509 (48,511) 15,747 (32,764) Total comprehensive income $ 133,499 (37,715) 95,784 5,648 1,100 6,748
Schedule of component of accumulated other comprehensive loss	The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020: Change in Accretion of loss on debt securities reclassified to held-to-maturity Unrealized gains on debt securities Other-than- Unrealized losses on derivatives Total (Dollars in thousands) Balance - December 31, 2020 $ (9,485) (184) 57,204 (9,809) (77,742) (40,016) Net change 121 31 (18,619) 179 41,797 23,509 Balance - March 31, 2021 $ (9,364) (153) 38,585 (9,630) (35,945) (16,507) Balance - December 31, 2019 $ (6,690) (386) 29,456 (10,629) (30,373) (18,622) Net change 20 56 37,628 180 (70,648) (32,764) Balance - March 31, 2020 $ (6,670) (330) 67,084 (10,449) (101,021) (51,386) The following table presents information about amounts reclassified from accumulated other comprehensive loss to the consolidated statements of income and the affected line item in the statement where net income is presented. Three Months Ended March 31, 2021 2020 (In thousands) Reclassification adjustment for gains included in net income Gain on securities, net $ (398) — Change in funded status of retirement obligations Amortization of net loss 168 8 Compensation and fringe benefits 168 8 Reclassification adjustment for unrealized losses on derivatives Interest expense 10,019 2,090 Total before tax 9,789 2,098 Income tax expense (2,677) (567) Net of tax $ 7,112 1,531

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value, assets measured on recurring basis	The following tables provide the level of valuation assumptions used to determine the carrying value of our assets and liabilities measured at fair value on a recurring basis at March 31, 2021 and December 31, 2020. Carrying Value at March 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Equity securities $ 25,727 25,727 — — Debt securities available for sale: Government-sponsored enterprises $ 4,370 — 4,370 — Mortgage-backed securities: Federal Home Loan Mortgage Corporation 1,253,853 — 1,253,853 — Federal National Mortgage Association 1,230,235 — 1,230,235 — Government National Mortgage Association 194,480 — 194,480 — Total debt securities available-for-sale $ 2,682,938 — 2,682,938 — Interest rate swaps $ 14,114 — 14,114 — Liabilities: Derivatives: Interest rate swaps $ 16,684 — 16,684 — Other contracts 108 — 108 — Total derivatives $ 16,792 — 16,792 — Carrying Value at December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Equity securities $ 36,000 36,000 — — Debt securities available for sale: Debt securities: Government-sponsored enterprises 4,482 — 4,482 — Mortgage-backed securities: Federal Home Loan Mortgage Corporation $ 1,317,052 — 1,317,052 — Federal National Mortgage Association 1,205,426 — 1,205,426 — Government National Mortgage Association 231,477 — 231,477 — Total debt securities available-for-sale $ 2,758,437 — 2,758,437 — Interest rate swaps $ 34,577 — 34,577 — Liabilities: Derivatives: Interest rate swaps $ 275 — 275 — Other contracts 217 — 217 — Total derivatives $ 492 — 492 —
Schedule of carrying value of our assets measured at fair value on a non-recurring basis	The following tables provide the level of valuation assumptions used to determine the carrying value of our assets measured at fair value on a non-recurring basis that have changed for the periods ended March 31, 2021 and December 31, 2020. For the three months ended March 31, 2021, there was no change to the carrying value of other real estate owned or operating lease equipment. For the three months ended December 31, 2020, there was no change to the carrying value of other real estate owned or collateral dependent loans. Security Type Valuation Technique Unobservable Input Range Weighted Average Input Carrying Value at March 31, 2021 Minimum Maximum Total Level 1 Level 2 Level 3 (In thousands) MSR, net Estimated cash flow Prepayment speeds 1.5% 23.9% 14.16% $ 11,409 — — 11,409 Collateral-dependent loans Market comparable Lack of marketability 0.60% 2.10% 4.38% 1,944 — — 1,944 $ 13,353 — — 13,353 Security Type Valuation Technique Unobservable Input Range Weighted Average Input Carrying Value at December 31, 2020 Minimum Maximum Total Level 1 Level 2 Level 3 (In thousands) MSR, net Estimated cash flow Prepayment speeds 14.5% 23.6% 17.76% $ 10,663 — — 10,663 Operating lease equipment Market comparable Lack of marketability 0.0% 10.4% 10.41% 15,007 — — 15,007 $ 25,670 — — 25,670
Schedule of carrying amounts and estimated fair values	The carrying values and estimated fair values of the Company’s financial instruments are presented in the following table. March 31, 2021 Carrying Estimated Fair Value value Total Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 173,273 173,273 173,273 — — Equities 25,727 25,727 25,727 — — Debt securities available-for-sale 2,682,938 2,682,938 — 2,682,938 — Debt securities held-to-maturity, net 1,191,771 1,243,268 — 1,173,319 69,949 FHLB stock 177,351 177,351 177,351 — — Loans held for sale 1,378 1,378 — 1,378 — Net loans 20,572,661 20,554,149 — — 20,554,149 Derivative financial instruments 14,114 14,114 — 14,114 — Financial liabilities: Deposits, other than time deposits $ 16,457,460 16,457,460 16,457,460 — — Time deposits 2,533,568 2,538,406 — 2,538,406 — Borrowed funds 3,558,324 3,616,582 — 3,616,582 — Derivative financial instruments 16,792 16,792 — 16,792 — December 31, 2020 Carrying Estimated Fair Value value Total Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 170,432 170,432 170,432 — — Equities 36,000 36,000 36,000 — — Debt securities available-for-sale 2,758,437 2,758,437 — 2,758,437 — Debt securities held-to-maturity, net 1,247,853 1,320,872 — 1,253,566 67,306 FHLB stock 159,829 159,829 159,829 — — Loans held for sale 30,357 30,357 — 30,357 — Net loans 20,580,451 20,787,917 — — 20,787,917 Derivative financial instruments 34,577 34,577 — 34,577 — Financial liabilities: Deposits, other than time deposits $ 16,807,240 16,807,240 16,807,240 — — Time deposits 2,718,179 2,726,230 — 2,726,230 — Borrowed funds 3,295,790 3,367,491 — 3,367,491 — Derivative financial instruments 492 492 — 492 —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	Revenue from contracts with customers included in fees and service charges and other income was as follows: Three Months Ended March 31, 2021 2020 (Dollars in thousands) Revenue from contracts with customers included in: Fees and service charges $ 3,598 3,950 Other income 4,573 3,019 Total revenue from contracts with customers $ 8,171 6,969

Stock Transactions (Details)

Stock Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 25, 2018	Mar. 31, 2021	Mar. 31, 2020
Stock Transactions
Percentage of shares to be repurchased (percentage)	10.00%
Number of shares authorized to be repurchased (shares)	28,886,780
Remaining number of shares authorized to be repurchased (shares)		12,000,202
Purchase of treasury stock (shares)		664,276	84,389
Stock repurchased during period, value		$ 7,615	$ 932
Stock repurchase cost, per share (usd per share)		$ 11.46
2015 Plan
Stock Transactions
Purchase of treasury stock (shares)		39,276

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) shares in Millions	Dec. 02, 2020USD ($)branch	Apr. 03, 2020USD ($)$ / sharesshares	Mar. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares
Business Acquisition
Common stock, par value (usd per share) | $ / shares			$ 0.01	$ 0.01
Goodwill			$ 94,535,000	$ 94,535,000
Gold Coast Bancorp, Inc.
Business Acquisition
Shares issued to acquire business (shares) | shares		2.8
Payments to acquire business		$ 31,000,000
Percentage of common shares of acquiree converted into Investors Bancorp common stock (percentage)		50.00%
Percentage of acquiree shares exchanged for cash (percentage)		50.00%
Shares received in merger (shares) | $ / shares		1.422
Common stock, par value (usd per share) | $ / shares		$ 0.01
Cash per share received in merger (usd per share) | $ / shares		$ 15.75
Goodwill		$ 12,000,000	$ 0
Berkshire Bank
Business Acquisition
Branch location | branch	8
Deposits	$ 639,000,000
Consumer and commercial loans acquired	$ 308,000,000

Business Combinations (Summariz

Business Combinations (Summarizes the estimated fair values of the assets acquired and liabilities) (Details) - Gold Coast Bancorp, Inc. $ in Millions	Apr. 03, 2020USD ($)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net
Cash and cash equivalents	$ 7.3
Debt securities available-for-sale	51.5
Debt securities held to maturity	8.4
Loans receivable, net	443.5
Accrued interest receivable	1.3
Right-of-use assets	3.7
Net deferred tax asset	3.9
Intangible assets	14.5
Other assets	1.2
Total assets acquired	535.3
Deposits	489.9
Borrowed funds	14.9
Other liabilities	9.7
Total liabilities assumed	514.5
Net assets acquired	$ 20.8

Business Combinations (Carrying

Business Combinations (Carrying amount of those loans) (Details) - Gold Coast Bancorp, Inc. $ in Millions	Apr. 03, 2020USD ($)
Business Acquisition
Purchase price of loans at acquisition	$ 244.7
Allowance for credit losses at acquisition	4.2
Non-credit discount at acquisition	2.6
Par value of acquired loans at acquisition	$ 251.5

Earnings Per Share (Summary of

Earnings Per Share (Summary of Calculations and Reconciliation of Basic to Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings for basic and diluted earnings per common share
Earnings applicable to common stockholders	$ 72,275	$ 39,512
Shares
Weighted-average common shares outstanding - basic (shares)	234,661,847	233,262,860
Effect of dilutive common stock equivalents (shares)	717,534	369,981
Weighted-average common shares outstanding - diluted (shares)	235,379,381	233,632,841
Earnings per common share
Basic (usd per share)	$ 0.31	$ 0.17
Diluted (usd per share)	$ 0.31	$ 0.17
Equity awards
Earnings per common share
Securities excluded from computation of diluted earnings per share (shares)	4,274,030	5,798,379

Securities (Narrative) (Details

Securities (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities
Equity securities	$ 25,727,000		$ 36,000,000
Debt securities, allowance for credit loss	2,338,000	$ 2,995,000	3,264,000	$ 0
Debt securities held-to-maturity, estimated fair value	1,243,268,000		1,320,872,000
Held-to-maturity securities pledged as collateral	1,870,000,000
Held-to-maturity securities pledged as collateral, fair value	1,920,000,000
Proceeds from sale of held to maturity securities	16,500,000	0
Net losses recognized on equity securities sold	(458,000)	0
Proceeds from sales of debt securities available for sale	8,171,000	0
Gains on sale of available for sale s debt securities	398,000
Unrealized gains (losses) recognized during the period on equity securities	711,000	78,000
Proceeds the sales and maturity of held to maturity securities		16,500,000
Loss on sale of securities		$ 124,000
Corporate and other debt securities
Marketable Securities
Carrying value of held to maturity security	130,781,000		130,565,000
Debt securities held-to-maturity, estimated fair value	$ 152,024,000		$ 149,713,000
Debt maturities, term (in years)	20 years
Corporate and other debt securities | TruP Security
Marketable Securities
Carrying value of held to maturity security	$ 50,300,000
Debt securities held-to-maturity, estimated fair value	$ 69,900,000

Securities (Equity Securities)

Securities (Equity Securities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Unrealized gains recognized on equity securities	$ 711	$ 78
Net losses recognized on equity securities sold	(458)	0
Net gains recognized on equity securities	$ 253	$ 78

Securities (Summary of Securiti

Securities (Summary of Securities- AFS) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale
Amortized cost	$ 2,632,271	$ 2,683,322
Gross unrealized gains	63,404	75,420
Gross unrealized losses	12,737	305
Debt securities available-for-sale, at estimated fair value	2,682,938	2,758,437
Government-sponsored enterprises
Debt Securities, Available-for-sale
Amortized cost	4,164	4,260
Gross unrealized gains	206	222
Gross unrealized losses	0	0
Debt securities available-for-sale, at estimated fair value	4,370	4,482
Federal Home Loan Mortgage Corporation
Debt Securities, Available-for-sale
Amortized cost	1,231,813	1,286,195
Gross unrealized gains	26,948	30,930
Gross unrealized losses	4,908	73
Debt securities available-for-sale, at estimated fair value	1,253,853	1,317,052
Federal National Mortgage Association
Debt Securities, Available-for-sale
Amortized cost	1,205,340	1,167,057
Gross unrealized gains	32,036	38,568
Gross unrealized losses	7,141	199
Debt securities available-for-sale, at estimated fair value	1,230,235	1,205,426
Government National Mortgage Association
Debt Securities, Available-for-sale
Amortized cost	190,954	225,810
Gross unrealized gains	4,214	5,700
Gross unrealized losses	688	33
Debt securities available-for-sale, at estimated fair value	194,480	231,477
Mortgage-backed securities:
Debt Securities, Available-for-sale
Amortized cost	2,628,107	2,679,062
Gross unrealized gains	63,198	75,198
Gross unrealized losses	12,737	305
Debt securities available-for-sale, at estimated fair value	$ 2,678,568	$ 2,753,955

Securities (Summary of Securi_2

Securities (Summary of Securities- HTM) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities
Gross unrealized losses	$ 9,576	$ 1,860
Estimated fair value	1,243,268	1,320,872
Allowance for credit losses	2,338	3,264	$ 2,995	$ 0
Total debt securities held-to-maturity, net of allowance for credit losses	1,191,771	1,247,853
Held-to-maturity:
Schedule of Held-to-maturity Securities
Amortized cost	1,207,704	1,265,002
Net unrealized losses	13,595	13,885
Total	1,194,109	1,251,117
Gross unrecognized gains	58,735	71,615
Gross unrealized losses	9,576	1,860
Estimated fair value	1,243,268	1,320,872
Total debt securities held-to-maturity
Schedule of Held-to-maturity Securities
Amortized cost	512,930	499,826
Net unrealized losses	13,395	13,644
Total	499,535	486,182
Gross unrecognized gains	34,119	39,130
Gross unrealized losses	5,755	1,594
Estimated fair value	527,899	523,718
Government-sponsored enterprises
Schedule of Held-to-maturity Securities
Amortized cost	133,797	109,016
Net unrealized losses	0	0
Total	133,797	109,016
Gross unrecognized gains	1,410	4,107
Gross unrealized losses	4,786	709
Estimated fair value	130,421	112,414
Municipal bonds
Schedule of Held-to-maturity Securities
Amortized cost	234,957	246,601
Net unrealized losses	0	0
Total	234,957	246,601
Gross unrecognized gains	10,562	14,990
Gross unrealized losses	65	0
Estimated fair value	245,454	261,591
Corporate and other debt securities
Schedule of Held-to-maturity Securities
Amortized cost	144,176	144,209
Net unrealized losses	13,395	13,644
Total	130,781	130,565
Gross unrecognized gains	22,147	20,033
Gross unrealized losses	904	885
Estimated fair value	152,024	149,713
Mortgage-backed securities:
Schedule of Held-to-maturity Securities
Amortized cost	694,774	765,176
Net unrealized losses	200	241
Total	694,574	764,935
Gross unrecognized gains	24,616	32,485
Gross unrealized losses	3,821	266
Estimated fair value	715,369	797,154
Federal Home Loan Mortgage Corporation
Schedule of Held-to-maturity Securities
Amortized cost	280,683	308,285
Net unrealized losses	54	66
Total	280,629	308,219
Gross unrecognized gains	5,737	9,733
Gross unrealized losses	3,679	266
Estimated fair value	282,687	317,686
Federal National Mortgage Association
Schedule of Held-to-maturity Securities
Amortized cost	377,412	413,601
Net unrealized losses	146	175
Total	377,266	413,426
Gross unrecognized gains	17,331	20,905
Gross unrealized losses	142	0
Estimated fair value	394,455	434,331
Government National Mortgage Association
Schedule of Held-to-maturity Securities
Amortized cost	36,679	43,290
Net unrealized losses	0	0
Total	36,679	43,290
Gross unrecognized gains	1,548	1,847
Gross unrealized losses	0	0
Estimated fair value	$ 38,227	$ 45,137

Securities (Investment Securiti

Securities (Investment Securities, Continuous Unrealized Loss Position And Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available-for-sale, Estimated fair value
Less than 12 Months, Estimated fair value	$ 600,115	$ 192,893
12 Months or more, Estimated fair value	0	0
Total, Estimated fair value	600,115	192,893
Available-for-sale, Unrealized Losses
Less than 12 Months, Unrealized losses	12,737	305
12 Months or more, Unrealized losses	0	0
Total, Unrealized loss	12,737	305
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	224,042	121,609
12 months or more, Estimated fair value	0	0
Total, Estimated fair value	224,042	121,609
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	9,576	1,860
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	9,576	1,860
Estimated fair value, less than 12 months, total	824,157	314,502
Unrealized losses, less than 12 months, total	22,313	2,165
Estimated fair value, 12 months or more, total	0	0
Unrealized losses, 12 months or more, total	0	0
Estimated fair value, total	824,157	314,502
Unrealized losses, total	22,313	2,165
Mortgage-backed securities:
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	109,436
12 months or more, Estimated fair value	0
Total, Estimated fair value	109,436
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	3,821
12 months or more, Unrealized losses	0
Total, Unrealized losses	3,821	266
Federal Home Loan Mortgage Corporation
Available-for-sale, Estimated fair value
Less than 12 Months, Estimated fair value	178,902	60,502
12 Months or more, Estimated fair value	0	0
Total, Estimated fair value	178,902	60,502
Available-for-sale, Unrealized Losses
Less than 12 Months, Unrealized losses	4,908	73
12 Months or more, Unrealized losses	0	0
Total, Unrealized loss	4,908	73
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	100,202	40,013
12 months or more, Estimated fair value	0	0
Total, Estimated fair value	100,202	40,013
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	3,679	266
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	3,679	266
Federal National Mortgage Association
Available-for-sale, Estimated fair value
Less than 12 Months, Estimated fair value	387,186	123,329
12 Months or more, Estimated fair value	0	0
Total, Estimated fair value	387,186	123,329
Available-for-sale, Unrealized Losses
Less than 12 Months, Unrealized losses	7,141	199
12 Months or more, Unrealized losses	0	0
Total, Unrealized loss	7,141	199
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	9,234
12 months or more, Estimated fair value	0
Total, Estimated fair value	9,234
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	142
12 months or more, Unrealized losses	0
Total, Unrealized losses	142	0
Government National Mortgage Association
Available-for-sale, Estimated fair value
Less than 12 Months, Estimated fair value	34,027	9,062
12 Months or more, Estimated fair value	0	0
Total, Estimated fair value	34,027	9,062
Available-for-sale, Unrealized Losses
Less than 12 Months, Unrealized losses	688	33
12 Months or more, Unrealized losses	0	0
Total, Unrealized loss	688	33
Held-to-maturity Securities, Unrealized Losses
Total, Unrealized losses	0	0
Debt securities
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	114,606	81,596
12 months or more, Estimated fair value	0	0
Total, Estimated fair value	114,606	81,596
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	5,755	1,594
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	5,755	1,594
Government-sponsored enterprises
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	87,397	66,558
12 months or more, Estimated fair value	0	0
Total, Estimated fair value	87,397	66,558
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	4,786	709
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	4,786	709
Municipal bonds
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	3,371
12 months or more, Estimated fair value	0
Total, Estimated fair value	3,371
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	65
12 months or more, Unrealized losses	0
Total, Unrealized losses	65	0
Corporate and other debt securities
Held-to-maturity Securities, Estimated Fair Value
Less than 12 months, Estimated fair value	23,838	15,038
12 months or more, Estimated fair value	0	0
Total, Estimated fair value	23,838	15,038
Held-to-maturity Securities, Unrealized Losses
Less than 12 months, Unrealized losses	904	885
12 months or more, Unrealized losses	0	0
Total, Unrealized losses	$ 904	$ 885

Securities (Amortized Cost and

Securities (Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Estimated fair value
Total	$ 1,243,268	$ 1,320,872
Debt Securities Other than Securities Pledged
Carrying value
Due in one year or less	40,776
Due after one year through five years	10,249
Due after five years through ten years	162,679
Due after ten years	289,995
Total	503,699
Estimated fair value
Due in one year or less	40,776
Due after one year through five years	10,448
Due after five years through ten years	163,078
Due after ten years	317,967
Total	$ 532,269

Loans Receivable, Net (Narrativ

Loans Receivable, Net (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)loan	Mar. 31, 2020USD ($)loan	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable
Interest income on non accrual loans	$ 279,000
Impairment charges	0		$ 2,200,000	$ 2,600,000
Loans that are 90 days past due and still accruing	0
Loans deferred	$ 693,000,000
Minimum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	30 days
Maximum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	89 days
Watch | Minimum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	30 days
Watch | Maximum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	59 days
Multifamily
Accounts, Notes, Loans and Financing Receivable
Allowance for loan losses, charge-offs	$ 1,400,000
Proceeds from sale of other loans held-for-sale	16,200,000
Commercial Portfolio Segment | Retail Site | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Recorded investment	$ 1,800,000
Number loans modified as TDR in the last 12 months for which there was a default payment | loan	1
Residential mortgage and consumer | Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable
Recorded investment	$ 1,200,000	$ 149,000
Number loans modified as TDR in the last 12 months for which there was a default payment | loan	5	2
Special Mention Residential | Minimum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	60 days
Special Mention Residential | Maximum
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	89 days
Substandard Residential
Accounts, Notes, Loans and Financing Receivable
Delinquency period in days	90 days
Collateral Dependent Tdrs
Accounts, Notes, Loans and Financing Receivable
Allowance for loan losses, charge-offs	$ 11,000	$ 0
Allowance for loan losses, individually evaluated for impairment	$ 1,400,000		$ 1,400,000

Loans Receivable, Net (Summary

Loans Receivable, Net (Summary of Loan Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	$ 20,871,236	$ 20,872,755
Deferred fees, premiums and accretable purchase accounting adjustments, net	(14,815)	(9,318)
Allowance for credit losses	(283,760)	(282,986)	$ (243,288)	$ (228,120)
Net loans	20,572,661	20,580,451
Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	16,263,559	16,050,060
Commercial Portfolio Segment | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	3,642,178	3,575,641
Allowance for credit losses	(83,418)	(79,327)		(74,396)
Commercial Portfolio Segment | Construction Loans
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	393,516	404,367
Allowance for credit losses	(8,042)	(7,267)		(6,816)
Commercial Portfolio Segment | Multifamily | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	7,230,501	7,122,840
Allowance for credit losses	(69,307)	(56,731)		(74,099)
Commercial Portfolio Segment | Retail Site | Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	4,997,364	4,947,212
Allowance for credit losses	(101,608)	(115,918)		(50,925)
Residential mortgage and consumer
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	20,871,236	20,872,755
Residential mortgage and consumer | Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	3,911,884	4,119,894
Allowance for credit losses	(17,548)	(19,941)		(17,391)
Residential mortgage and consumer | Consumer and Other Loans
Accounts, Notes, Loans and Financing Receivable
Total loans at amortized cost	695,793	702,801
Allowance for credit losses	$ (3,837)	$ (3,802)		$ (2,548)

Loans Receivable, Net (Amortize

Loans Receivable, Net (Amortized Cost Basis By Year of Origination) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator
Total	$ 20,871,236	$ 20,872,755
Commercial Portfolio Segment
Financing Receivable, Credit Quality Indicator
Total	16,263,559	16,050,060
Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	216,493	1,073,970
Financing receivable, year two	995,257	852,690
Financing receivable, year three	836,118	429,831
Financing receivable, year four	404,214	261,893
Financing receivable, year five	257,109	223,708
Prior	650,844	482,236
Revolving Loans	282,143	251,313
Total	3,642,178	3,575,641
Commercial Portfolio Segment | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	202,203	1,007,949
Financing receivable, year two	941,163	619,275
Financing receivable, year three	605,057	328,917
Financing receivable, year four	295,238	156,596
Financing receivable, year five	173,597	176,557
Prior	477,570	348,278
Revolving Loans	218,366	203,302
Total	2,913,194	2,840,874
Commercial Portfolio Segment | Commercial and industrial | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	14,290	49,208
Financing receivable, year two	37,488	115,888
Financing receivable, year three	104,910	43,791
Financing receivable, year four	43,117	48,230
Financing receivable, year five	23,277	28,708
Prior	51,986	34,697
Revolving Loans	46,805	31,931
Total	321,873	352,453
Commercial Portfolio Segment | Commercial and industrial | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	16,813
Financing receivable, year two	16,606	111,399
Financing receivable, year three	119,581	48,887
Financing receivable, year four	57,818	14,770
Financing receivable, year five	13,162	14,102
Prior	88,109	76,554
Revolving Loans	1,475	798
Total	296,751	283,323
Commercial Portfolio Segment | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	6,128
Financing receivable, year three	6,570	8,236
Financing receivable, year four	8,041	42,297
Financing receivable, year five	47,073	4,341
Prior	33,179	22,707
Revolving Loans	15,497	15,282
Total	110,360	98,991
Commercial Portfolio Segment | Construction Loans
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	10,948	92,806
Financing receivable, year two	113,209	63,391
Financing receivable, year three	58,397	38,603
Financing receivable, year four	23,375	0
Financing receivable, year five	0	0
Prior	0	0
Revolving Loans	187,587	209,567
Total	393,516	404,367
Commercial Portfolio Segment | Construction Loans | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	10,948	85,915
Financing receivable, year two	106,307	58,041
Financing receivable, year three	53,047	23,375
Financing receivable, year four	0	0
Financing receivable, year five	0	0
Prior	0	0
Revolving Loans	167,777	197,437
Total	338,079	364,768
Commercial Portfolio Segment | Construction Loans | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	6,891
Financing receivable, year two	6,902	5,350
Financing receivable, year three	5,350	0
Financing receivable, year four	0	0
Financing receivable, year five	0	0
Prior	0	0
Revolving Loans	0	0
Total	12,252	12,241
Commercial Portfolio Segment | Construction Loans | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	15,228
Financing receivable, year four	23,375	0
Financing receivable, year five	0	0
Prior	0	0
Revolving Loans	19,810	0
Total	43,185	15,228
Commercial Portfolio Segment | Construction Loans | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	0
Financing receivable, year four	0	0
Financing receivable, year five	0	0
Prior	0	0
Revolving Loans	0	12,130
Total	0	12,130
Residential mortgage and consumer
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	1,075,621	3,374,318
Financing receivable, year two	3,291,367	2,888,650
Financing receivable, year three	2,763,763	3,075,527
Financing receivable, year four	2,932,916	2,191,782
Financing receivable, year five	2,059,753	2,623,693
Prior	7,624,190	5,601,930
Revolving Loans	1,123,626	1,116,855
Total	20,871,236	20,872,755
Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	303,000	557,570
Financing receivable, year two	549,003	464,815
Financing receivable, year three	377,371	441,638
Financing receivable, year four	364,885	546,716
Financing receivable, year five	441,930	415,964
Prior	1,875,600	1,693,094
Revolving Loans	95	97
Total	3,911,884	4,119,894
Residential mortgage and consumer | Residential Mortgage Loans | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	303,000	556,761
Financing receivable, year two	547,273	450,363
Financing receivable, year three	359,835	425,617
Financing receivable, year four	350,977	530,676
Financing receivable, year five	422,900	407,201
Prior	1,763,869	1,601,457
Revolving Loans	0	0
Total	3,747,854	3,972,075
Residential mortgage and consumer | Residential Mortgage Loans | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	809
Financing receivable, year two	1,730	12,929
Financing receivable, year three	16,013	13,465
Financing receivable, year four	11,811	14,704
Financing receivable, year five	17,178	8,517
Prior	66,558	44,299
Revolving Loans	0	0
Total	113,290	94,723
Residential mortgage and consumer | Residential Mortgage Loans | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	584
Financing receivable, year four	156	0
Financing receivable, year five	521	0
Prior	1,419	3,402
Revolving Loans	0	0
Total	2,096	3,986
Residential mortgage and consumer | Residential Mortgage Loans | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	1,523
Financing receivable, year three	1,523	1,972
Financing receivable, year four	1,941	1,336
Financing receivable, year five	1,331	246
Prior	43,754	43,936
Revolving Loans	95	97
Total	48,644	49,110
Residential mortgage and consumer | Consumer and Other Loans
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	1,827	5,031
Financing receivable, year two	2,664	6,892
Financing receivable, year three	6,236	5,830
Financing receivable, year four	5,374	7,504
Financing receivable, year five	12,200	6,848
Prior	60,118	59,631
Revolving Loans	607,374	611,065
Total	695,793	702,801
Residential mortgage and consumer | Consumer and Other Loans | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	1,827	5,031
Financing receivable, year two	2,664	6,853
Financing receivable, year three	6,198	5,693
Financing receivable, year four	5,237	7,448
Financing receivable, year five	8,241	6,692
Prior	57,948	57,103
Revolving Loans	603,298	601,481
Total	685,413	690,301
Residential mortgage and consumer | Consumer and Other Loans | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	39
Financing receivable, year three	38	137
Financing receivable, year four	137	56
Financing receivable, year five	3,167	156
Prior	535	440
Revolving Loans	3,355	7,655
Total	7,232	8,483
Residential mortgage and consumer | Consumer and Other Loans | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	0
Financing receivable, year four	0	0
Financing receivable, year five	792	0
Prior	4	292
Revolving Loans	279	1,184
Total	1,075	1,476
Residential mortgage and consumer | Consumer and Other Loans | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	0
Financing receivable, year four	0	0
Financing receivable, year five	0	0
Prior	1,631	1,796
Revolving Loans	442	745
Total	2,073	2,541
Multifamily | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	385,367	1,028,185
Financing receivable, year two	1,016,738	676,135
Financing receivable, year three	667,779	1,381,828
Financing receivable, year four	1,361,292	786,874
Financing receivable, year five	768,712	1,338,189
Prior	3,020,410	1,903,252
Revolving Loans	10,203	8,377
Total	7,230,501	7,122,840
Multifamily | Commercial Portfolio Segment | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	385,367	1,002,259
Financing receivable, year two	998,208	515,446
Financing receivable, year three	479,080	912,910
Financing receivable, year four	796,142	601,440
Financing receivable, year five	548,043	850,781
Prior	1,774,521	1,199,133
Revolving Loans	7,472	6,986
Total	4,988,833	5,088,955
Multifamily | Commercial Portfolio Segment | Commercial real estate | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	21,366
Financing receivable, year two	18,530	153,404
Financing receivable, year three	174,309	374,363
Financing receivable, year four	449,463	135,348
Financing receivable, year five	155,695	299,413
Prior	600,992	220,668
Revolving Loans	1,340	0
Total	1,400,329	1,204,562
Multifamily | Commercial Portfolio Segment | Commercial real estate | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	4,560
Financing receivable, year two	0	0
Financing receivable, year three	3,572	86,119
Financing receivable, year four	99,001	32,506
Financing receivable, year five	44,012	48,020
Prior	267,088	205,916
Revolving Loans	0	0
Total	413,673	377,121
Multifamily | Commercial Portfolio Segment | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	7,285
Financing receivable, year three	10,818	8,436
Financing receivable, year four	16,686	17,580
Financing receivable, year five	20,962	139,975
Prior	377,809	277,535
Revolving Loans	1,391	1,391
Total	427,666	452,202
Retail Site | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	157,986	616,756
Financing receivable, year two	614,496	824,727
Financing receivable, year three	817,862	777,797
Financing receivable, year four	773,776	588,795
Financing receivable, year five	579,802	638,984
Prior	2,017,218	1,463,717
Revolving Loans	36,224	36,436
Total	4,997,364	4,947,212
Retail Site | Commercial Portfolio Segment | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	156,520	529,244
Financing receivable, year two	523,685	684,807
Financing receivable, year three	693,388	646,708
Financing receivable, year four	587,853	461,097
Financing receivable, year five	451,379	495,822
Prior	1,498,160	1,081,512
Revolving Loans	30,154	32,509
Total	3,941,139	3,931,699
Retail Site | Commercial Portfolio Segment | Commercial real estate | Watch
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	1,466	87,137
Financing receivable, year two	90,432	132,932
Financing receivable, year three	117,359	117,598
Financing receivable, year four	160,517	74,379
Financing receivable, year five	67,750	61,794
Prior	222,648	165,702
Revolving Loans	4,633	3,428
Total	664,805	642,970
Retail Site | Commercial Portfolio Segment | Commercial real estate | Special mention
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	375
Financing receivable, year two	379	6,988
Financing receivable, year three	7,115	5,279
Financing receivable, year four	5,263	13,295
Financing receivable, year five	15,235	51,880
Prior	121,747	71,745
Revolving Loans	1,437	250
Total	151,176	149,812
Retail Site | Commercial Portfolio Segment | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator
Financing receivable, year one	0	0
Financing receivable, year two	0	0
Financing receivable, year three	0	8,212
Financing receivable, year four	20,143	40,024
Financing receivable, year five	45,438	29,488
Prior	174,663	144,758
Revolving Loans	0	249
Total	$ 240,244	$ 222,731

Loans Receivable, Net (Payment

Loans Receivable, Net (Payment Status of the Recorded Investment in Past Due Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due
Financing receivables gross	$ 20,871,236	$ 20,872,755
Total Past Due
Financing Receivable, Past Due
Financing receivables gross	120,589	124,042
30-59 Days
Financing Receivable, Past Due
Financing receivables gross	51,858	40,625
60-89 Days
Financing Receivable, Past Due
Financing receivables gross	9,743	11,300
Greater than 90 Days
Financing Receivable, Past Due
Financing receivables gross	58,988	72,117
Current
Financing Receivable, Past Due
Financing receivables gross	20,750,647	20,748,713
Commercial Portfolio Segment
Financing Receivable, Past Due
Financing receivables gross	16,263,559	16,050,060
Commercial Portfolio Segment | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	393,516	404,367
Commercial Portfolio Segment | Total Past Due
Financing Receivable, Past Due
Financing receivables gross	72,062	67,787
Commercial Portfolio Segment | Total Past Due | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	0	0
Commercial Portfolio Segment | 30-59 Days
Financing Receivable, Past Due
Financing receivables gross	38,009	21,212
Commercial Portfolio Segment | 30-59 Days | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	0	0
Commercial Portfolio Segment | 60-89 Days
Financing Receivable, Past Due
Financing receivables gross	6,294	5,566
Commercial Portfolio Segment | 60-89 Days | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	0	0
Commercial Portfolio Segment | Greater than 90 Days
Financing Receivable, Past Due
Financing receivables gross	27,759	41,009
Commercial Portfolio Segment | Greater than 90 Days | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	0	0
Commercial Portfolio Segment | Current
Financing Receivable, Past Due
Financing receivables gross	16,191,497	15,982,273
Commercial Portfolio Segment | Current | Construction Loans
Financing Receivable, Past Due
Financing receivables gross	393,516	404,367
Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Past Due
Financing receivables gross	3,642,178	3,575,641
Commercial Portfolio Segment | Commercial and industrial | Total Past Due
Financing Receivable, Past Due
Financing receivables gross	10,779	5,871
Commercial Portfolio Segment | Commercial and industrial | 30-59 Days
Financing Receivable, Past Due
Financing receivables gross	7,375	986
Commercial Portfolio Segment | Commercial and industrial | 60-89 Days
Financing Receivable, Past Due
Financing receivables gross	200	3,116
Commercial Portfolio Segment | Commercial and industrial | Greater than 90 Days
Financing Receivable, Past Due
Financing receivables gross	3,204	1,769
Commercial Portfolio Segment | Commercial and industrial | Current
Financing Receivable, Past Due
Financing receivables gross	3,631,399	3,569,770
Commercial Portfolio Segment | Multifamily | Commercial real estate
Financing Receivable, Past Due
Financing receivables gross	7,230,501	7,122,840
Commercial Portfolio Segment | Multifamily | Commercial real estate | Total Past Due
Financing Receivable, Past Due
Financing receivables gross	39,303	40,305
Commercial Portfolio Segment | Multifamily | Commercial real estate | 30-59 Days
Financing Receivable, Past Due
Financing receivables gross	19,176	7,421
Commercial Portfolio Segment | Multifamily | Commercial real estate | 60-89 Days
Financing Receivable, Past Due
Financing receivables gross	3,434	0
Commercial Portfolio Segment | Multifamily | Commercial real estate | Greater than 90 Days
Financing Receivable, Past Due
Financing receivables gross	16,693	32,884
Commercial Portfolio Segment | Multifamily | Commercial real estate | Current
Financing Receivable, Past Due
Financing receivables gross	7,191,198	7,082,535
Commercial Portfolio Segment | Retail Site | Commercial real estate
Financing Receivable, Past Due
Financing receivables gross	4,997,364	4,947,212
Commercial Portfolio Segment | Retail Site | Commercial real estate | Total Past Due
Financing Receivable, Past Due
Financing receivables gross	21,980	21,611
Commercial Portfolio Segment | Retail Site | Commercial real estate | 30-59 Days
Financing Receivable, Past Due
Financing receivables gross	11,458	12,805
Commercial Portfolio Segment | Retail Site | Commercial real estate | 60-89 Days
Financing Receivable, Past Due
Financing receivables gross	2,660	2,450
Commercial Portfolio Segment | Retail Site | Commercial real estate | Greater than 90 Days
Financing Receivable, Past Due
Financing receivables gross	7,862	6,356
Commercial Portfolio Segment | Retail Site | Commercial real estate | Current
Financing Receivable, Past Due
Financing receivables gross	4,975,384	4,925,601
Residential mortgage and consumer
Financing Receivable, Past Due
Financing receivables gross	20,871,236	20,872,755
Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	3,911,884	4,119,894
Residential mortgage and consumer | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	695,793	702,801
Residential mortgage and consumer | Total Past Due | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	42,190	47,150
Residential mortgage and consumer | Total Past Due | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	6,337	9,105
Residential mortgage and consumer | 30-59 Days | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	10,135	13,768
Residential mortgage and consumer | 30-59 Days | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	3,714	5,645
Residential mortgage and consumer | 60-89 Days | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	2,374	4,258
Residential mortgage and consumer | 60-89 Days | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	1,075	1,476
Residential mortgage and consumer | Greater than 90 Days | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	29,681	29,124
Residential mortgage and consumer | Greater than 90 Days | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	1,548	1,984
Residential mortgage and consumer | Current | Residential Mortgage Loans
Financing Receivable, Past Due
Financing receivables gross	3,869,694	4,072,744
Residential mortgage and consumer | Current | Consumer and Other Loans
Financing Receivable, Past Due
Financing receivables gross	$ 689,456	$ 693,696

Loans Receivable, Net (Collater

Loans Receivable, Net (Collateral Dependent Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	$ 52,845	$ 72,046
Construction
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	0	0
Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	28,389	46,785
Total commercial loans | Multifamily
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	17,389	31,484
Residential mortgage and consumer
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	24,456	25,261
Commercial and industrial | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	3,576	6,543
Commercial real estate | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	7,424	8,758
Real Estate Loan
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	51,818	68,394
Real Estate Loan | Construction
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	0	0
Real Estate Loan | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	27,459	43,236
Real Estate Loan | Total commercial loans | Multifamily
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	17,389	31,484
Real Estate Loan | Residential mortgage and consumer
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	24,359	25,158
Real Estate Loan | Commercial and industrial | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	2,646	2,994
Real Estate Loan | Commercial real estate | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	7,424	8,758
Other
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	1,027	3,652
Other | Construction
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	0	0
Other | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	930	3,549
Other | Total commercial loans | Multifamily
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	0	0
Other | Residential mortgage and consumer
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	97	103
Other | Commercial and industrial | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	930	3,549
Other | Commercial real estate | Total commercial loans
Accounts, Notes, Loans and Financing Receivable
Collateral-dependent loans	$ 0	$ 0

Loans Receivable, Net (Non-Accr

Loans Receivable, Net (Non-Accrual Loans Status) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Past Due
Non-accrual: # of loans | loan	292	311
Non-accrual, Amount | $	$ 83,311	$ 107,125
Financing Receivables, 1 to 29 Days Past Due
Financing Receivable, Past Due
Non-accrual: # of loans | loan	36	35
Non-accrual, Amount | $	$ 9,998	$ 9,541
TDR 30-89 days delinquent classified as non-accrual:
Financing Receivable, Past Due
Non-accrual: # of loans | loan	9	11
Non-accrual, Amount | $	$ 726	$ 2,722
Retail Site | Residential Mortgage Loans | TDR 30-89 days delinquent classified as non-accrual:
Financing Receivable, Past Due
Non-accrual: # of loans | loan	0	1
Non-accrual, Amount | $	$ 0	$ 1,780
Commercial Portfolio Segment
Financing Receivable, Past Due
Non-accrual: # of loans | loan	53	65
Non-accrual, Amount | $	$ 37,608	$ 60,673
Commercial Portfolio Segment | Construction Loans
Financing Receivable, Past Due
Non-accrual: # of loans | loan	0	0
Non-accrual, Amount | $	$ 0	$ 0
Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Past Due
Non-accrual: # of loans | loan	15	21
Non-accrual, Amount | $	$ 4,390	$ 9,212
Commercial Portfolio Segment | Multifamily | Commercial real estate
Financing Receivable, Past Due
Non-accrual: # of loans | loan	13	15
Non-accrual, Amount | $	$ 19,179	$ 35,567
Commercial Portfolio Segment | Retail Site | Commercial real estate
Financing Receivable, Past Due
Non-accrual: # of loans | loan	25	29
Non-accrual, Amount | $	$ 14,039	$ 15,894
Commercial Portfolio Segment | Retail Site | Commercial real estate | Financing Receivables, 1 to 29 Days Past Due
Financing Receivable, Past Due
Non-accrual: # of loans | loan	3	3
Non-accrual, Amount | $	$ 4,362	$ 3,907
Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Past Due
Non-accrual: # of loans | loan	239	246
Non-accrual, Amount | $	$ 45,703	$ 46,452
Residential mortgage and consumer | Residential Mortgage Loans | Financing Receivables, 1 to 29 Days Past Due
Financing Receivable, Past Due
Non-accrual: # of loans | loan	33	32
Non-accrual, Amount | $	$ 5,636	$ 5,634
Residential mortgage and consumer | Residential Mortgage Loans | TDR 30-89 days delinquent classified as non-accrual:
Financing Receivable, Past Due
Non-accrual: # of loans | loan	9	10
Non-accrual, Amount | $	$ 726	$ 942

Loans Receivable, Net (Troubled

Loans Receivable, Net (Troubled Debt Restructured Loans) (Details) $ in Thousands	Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Troubled Debt Restructuring
Accrual, number of loans | loan	45	47
Accrual, amount | $	$ 9,095	$ 9,232
Non-accrual, number of loans | loan	85	89
Non-accrual, amount | $	$ 20,653	$ 25,265
Number of loans | loan	130	136
Troubled debt restructuring, Amount | $	$ 29,748	$ 34,497
Commercial Portfolio Segment
Financing Receivable, Troubled Debt Restructuring
Accrual, number of loans | loan	2	2
Accrual, amount | $	$ 930	$ 630
Non-accrual, number of loans | loan	3	6
Non-accrual, amount | $	$ 4,362	$ 8,606
Number of loans | loan	5	8
Troubled debt restructuring, Amount | $	$ 5,292	$ 9,236
Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring
Accrual, number of loans | loan	2	2
Accrual, amount | $	$ 930	$ 630
Non-accrual, number of loans | loan	0	2
Non-accrual, amount | $	$ 0	$ 2,919
Number of loans | loan	2	4
Troubled debt restructuring, Amount | $	$ 930	$ 3,549
Commercial Portfolio Segment | Retail Site | Commercial real estate
Financing Receivable, Troubled Debt Restructuring
Accrual, number of loans | loan	0	0
Accrual, amount | $	$ 0	$ 0
Non-accrual, number of loans | loan	3	4
Non-accrual, amount | $	$ 4,362	$ 5,687
Number of loans | loan	3	4
Troubled debt restructuring, Amount | $	$ 4,362	$ 5,687
Residential mortgage and consumer | Residential And Consumer
Financing Receivable, Troubled Debt Restructuring
Accrual, number of loans | loan	43	45
Accrual, amount | $	$ 8,165	$ 8,602
Non-accrual, number of loans | loan	82	83
Non-accrual, amount | $	$ 16,291	$ 16,659
Number of loans | loan	125	128
Troubled debt restructuring, Amount | $	$ 24,456	$ 25,261

Loans Receivable, Net (Schedule

Loans Receivable, Net (Schedule of Troubled Debt Restructurings) (Details) - Commercial Portfolio Segment - Commercial and industrial $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)loan	Mar. 31, 2020USD ($)loan
Financing Receivable, Allowance for Credit Loss
Number of Loans | loan	0	1
Pre-modification Recorded Investment | $	$ 0	$ 933
Post- modification Recorded Investment | $	$ 0	$ 933
Number of Loans | loan	0	1
Pre-modification Interest Yield (percentage)	0.00%	4.75%
Post- modification Interest Yield (percentage)	0.00%	4.75%

Allowance for Credit Losses (Na

Allowance for Credit Losses (Narrative) (Details) $ in Millions	Mar. 31, 2021USD ($)
Credit Loss [Abstract]
Accrued interest receivable	$ 72
Held-to-maturity, accrued interest receivable	$ 5.2

Allowance for Credit Losses (Pr

Allowance for Credit Losses (Provisions) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Credit Loss [Abstract]
Provision for loan losses	$ (961)	$ 26,752	$ 64,890
Provision for debt securities held-to-maturity	(926)	431	$ 700
Provision for off-balance sheet credit exposures	(1,085)	4,043
Provision for credit losses	$ (2,972)	$ 31,226

Allowance for Credit Losses (Ro

Allowance for Credit Losses (Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	$ 282,986	$ 228,120	$ 228,120
Gross charge offs	(681)	(10,930)	(18,388)
Recoveries	2,416	2,897	7,735
Net charge-offs	1,735	(8,033)
Provision for credit loss expense	(961)	26,752	64,890
Balance at end of the period	283,760	243,288	282,986
Adjustment
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	$ 0	$ (3,551)	(3,551)
Balance at end of the period			$ 0

Allowance for Credit Losses (By

Allowance for Credit Losses (By Portfolio Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	$ 282,986	$ 228,120	$ 228,120
Charge-offs	(681)	(10,930)	(18,388)
Recoveries	2,416	2,897	7,735
Allowance at acquisition on loans purchased with credit deterioration			4,180
Provision for credit loss expense	(961)	26,752	64,890
Balance at end of the period	283,760	243,288	282,986
Unallocated
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	0	1,945	1,945
Charge-offs	0		0
Recoveries	0		0
Allowance at acquisition on loans purchased with credit deterioration			0
Provision for credit loss expense	0		0
Balance at end of the period	0		0
Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	79,327	74,396	74,396
Charge-offs	(275)		(12,005)
Recoveries	915		4,459
Allowance at acquisition on loans purchased with credit deterioration			287
Provision for credit loss expense	3,451		19,701
Balance at end of the period	83,418		79,327
Commercial Portfolio Segment | Construction Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	7,267	6,816	6,816
Charge-offs	0		0
Recoveries	0		0
Allowance at acquisition on loans purchased with credit deterioration			127
Provision for credit loss expense	775		2,225
Balance at end of the period	8,042		7,267
Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	19,941	17,391	17,391
Charge-offs	(93)		(1,190)
Recoveries	58		677
Allowance at acquisition on loans purchased with credit deterioration			344
Provision for credit loss expense	(2,358)		(17,370)
Balance at end of the period	17,548		19,941
Residential mortgage and consumer | Consumer and Other Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	3,802	2,548	2,548
Charge-offs	(8)		(41)
Recoveries	5		222
Allowance at acquisition on loans purchased with credit deterioration			5
Provision for credit loss expense	38		(1,021)
Balance at end of the period	3,837		3,802
Multifamily | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	56,731	74,099	74,099
Charge-offs	(275)		(4,631)
Recoveries	1,393		1,965
Allowance at acquisition on loans purchased with credit deterioration			209
Provision for credit loss expense	11,458		(5,170)
Balance at end of the period	69,307		56,731
Retail Site | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	115,918	50,925	50,925
Charge-offs	(30)		(521)
Recoveries	45		412
Allowance at acquisition on loans purchased with credit deterioration			3,208
Provision for credit loss expense	(14,325)		66,525
Balance at end of the period	101,608		115,918
Adjustment
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period	$ 0	(3,551)	(3,551)
Balance at end of the period			0
Adjustment | Unallocated
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		(1,945)	(1,945)
Adjustment | Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		(7,511)	(7,511)
Adjustment | Commercial Portfolio Segment | Construction Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		(1,901)	(1,901)
Adjustment | Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		20,089	20,089
Adjustment | Residential mortgage and consumer | Consumer and Other Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		2,089	2,089
Adjustment | Multifamily | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		(9,741)	(9,741)
Adjustment | Retail Site | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		(4,631)	(4,631)
Adjusted Balance
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		224,569	224,569
Adjusted Balance | Unallocated
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		0	0
Adjusted Balance | Commercial Portfolio Segment | Commercial and industrial
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		66,885	66,885
Adjusted Balance | Commercial Portfolio Segment | Construction Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		4,915	4,915
Adjusted Balance | Residential mortgage and consumer | Residential Mortgage Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		37,480	37,480
Adjusted Balance | Residential mortgage and consumer | Consumer and Other Loans
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		4,637	4,637
Adjusted Balance | Multifamily | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		64,358	64,358
Adjusted Balance | Retail Site | Commercial Portfolio Segment | Commercial real estate
Financing Receivable, Allowance for Credit Loss
Balance at beginning of the period		$ 46,294	$ 46,294

Allowance for Credit Losses (He

Allowance for Credit Losses (Held To Maturity) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	$ 3,264	$ 0	$ 0
Provision for credit losses	(926)	431	700
Balance at end of the period	2,338	2,995	3,264
Adjustment
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	$ 0	$ 2,564	2,564
Balance at end of the period			$ 0

Allowance for Credit Losses (_2

Allowance for Credit Losses (Held to Maturity by Portfolio) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	$ 3,264	$ 0	$ 0
Provision for credit losses	(926)	431	700
Balance at end of the period	2,338	2,995	3,264
Adjustment
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	0	2,564	2,564
Balance at end of the period			0
Municipal bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	34	0	0
Provision for credit losses	(7)		17
Balance at end of the period	27		34
Municipal bonds | Adjustment
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period		17	17
Corporate and other debt securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period	3,230	0	0
Provision for credit losses	(919)		683
Balance at end of the period	$ 2,311		3,230
Corporate and other debt securities | Adjustment
Debt Securities, Held-to-maturity, Allowance for Credit Loss
Balance at beginning of the period		$ 2,547	$ 2,547

Allowance for Credit Losses (Of

Allowance for Credit Losses (Off Balance Sheet) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Off-Balance Sheet, Credit Loss, Liability
Balance at beginning of the period	$ 17,667	$ 425
Provision for credit losses	(1,085)	4,043
Balance at end of the period	16,582	17,142
Adjustment
Off-Balance Sheet, Credit Loss, Liability
Balance at beginning of the period	$ 0	$ 12,674

Deposits (Summary of Deposits)

Deposits (Summary of Deposits) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Non-interest bearing:
Checking accounts	$ 3,837,297	$ 3,663,073
Interest bearing:
Checking accounts	6,101,528	6,043,393
Money market deposits	4,539,365	5,037,327
Savings	1,979,270	2,063,447
Certificates of deposit	2,533,568	2,718,179
Total deposits	$ 18,991,028	$ 19,525,419

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Summary of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets
Gross Intangible Asset	$ 42,188	$ 41,772
Accumulated Amortization	(26,483)	(25,664)
Valuation Allowance	(60)	(1,010)
Net Intangible Assets	15,645	15,098
Goodwill	94,535	94,535
Goodwill and intangible assets	110,180	109,633
Mortgage servicing rights
Finite-Lived Intangible Assets
Gross Intangible Asset	17,975	17,559
Accumulated Amortization	(6,139)	(5,592)
Valuation Allowance	(60)	(1,010)
Net Intangible Assets	11,776	10,957
Core deposit premiums
Finite-Lived Intangible Assets
Gross Intangible Asset	23,063	23,063
Accumulated Amortization	(19,754)	(19,503)
Valuation Allowance	0	0
Net Intangible Assets	3,309	3,560
Other
Finite-Lived Intangible Assets
Gross Intangible Asset	1,150	1,150
Accumulated Amortization	(590)	(569)
Valuation Allowance	0	0
Net Intangible Assets	$ 560	$ 581

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets
Loans sold	$ 1,730,000	$ 1,690,000
Estimated fair value of servicing asset in intangible assets	$ 12,800	11,200
Weighted average discount rate of servicing assets (percentage)	12.03%
Weighted average constant prepayment rate on mortgages (percentage)	14.16%
Weighted average life of servicing assets, years (in years)	5 years 3 months 18 days
Finite lived intangible assets valuation allowance	$ 60	1,010
Mortgage servicing rights
Finite-Lived Intangible Assets
Finite lived intangible assets valuation allowance	60	1,010
Increase (decrease) to the valuation allowance of finite lived intangible assets	1,000
Core deposit premiums
Finite-Lived Intangible Assets
Finite lived intangible assets valuation allowance	$ 0	0
Useful life, years (in years)	10 years
Gold Coast Bancorp, Inc. | Core deposit premiums
Finite-Lived Intangible Assets
Core deposit premiums		$ 2,500

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description
Right of use assets	$ 2
Lease liability	$ 2
Finance lease, asset extensible list	Other assets	Other assets
Finance lease, liability extensible list	Other liabilities	Other liabilities
Maximum
Lessee, Lease, Description
Remaining lease term (in years)	15 years
Renewal term (in years)	10 years

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 195,130	$ 199,981
Operating lease liabilities	$ 207,653	$ 212,559
Weighted average remaining lease term (in years)	9 years 2 months 12 days	9 years 4 months 24 days
Weighted average discount rate (percentage)	2.48%	2.49%

Leases (Supplemental Income and

Leases (Supplemental Income and Expense Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Included in office occupancy and equipment expense:
Operating lease cost	$ 7,149	$ 6,280
Short-term lease cost	216	86
Included in other income:
Sublease income	$ 51	$ 67

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases	$ 7,262	$ 5,707
Operating lease liabilities arising from obtaining right-of-use assets (non-cash):
Operating leases	$ 2,168	$ 558

Leases (Maturity of Lease Liabi

Leases (Maturity of Lease Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due
2021	$ 21,659	$ 28,844
2022	27,615	27,448
2023	26,534	26,354
2024	26,492	26,300
2025	25,842	25,496
Thereafter	104,808	104,729
Total lease payments	232,950	239,171
Less: Imputed interest	(25,297)	(26,612)
Total operating lease liabilities	$ 207,653	$ 212,559

Equity Incentive Plan (Narrativ

Equity Incentive Plan (Narrative) (Details) - USD ($) $ in Millions	Jun. 09, 2015	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Total stock options granted (shares)		0	0
Compensation not yet recognized		$ 4.6
Compensation cost not yet recognized, period for recognition (in years)		1 year 18 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares granted (shares)		216,343	64,923
Compensation cost not yet recognized, period for recognition (in years)		2 years 2 months 19 days
Compensation not yet recognized, restricted stock		$ 17.7
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares authorized (shares)	30,881,296
2015 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares authorized (shares)	13,234,841
2015 Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares authorized (shares)	17,646,455
Expiration period (in years)	10 years
Minimum | 2015 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	5 years
Minimum | 2015 Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	5 years
Maximum | 2015 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	7 years
Maximum | 2015 Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	7 years

Equity Incentive Plan (Shares-b

Equity Incentive Plan (Shares-based compensation expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock option expense	$ 910	$ 988
Restricted stock expense	2,550	2,901
Total share-based compensation expense	$ 3,460	$ 3,889

Equity Incentive Plan (Summary

Equity Incentive Plan (Summary of Stock Option Activity and Related Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Number of Stock Options
Beginning balance (shares)	5,570,858
Granted (shares)	0	0
Exercised (shares)	(175,830)
Forfeited (shares)	(21,429)
Expired (shares)	(14,286)
Ending balance (shares)	5,359,313		5,570,858
Exercisable at period end (shares)	3,614,828
Weighted Average Exercise Price
Beginning balance (usd per share)	$ 12.46
Granted (usd per share)	0
Exercised (usd per share)	11.57
Forfeited (usd per share)	12.54
Expired (usd per share)	12.54
Ending balance (usd per share)	12.49		$ 12.46
Exercisable end of the year (usd per share)	$ 12.47
Weighted Average Remaining Contractual Life (in years)	4 years 3 months 18 days		4 years 6 months
Weighted average shares exercised (in years)	3 years 9 months 18 days
Weighted Average Remaining Contractual Life, Exercisable (in years)	4 years 3 months 18 days
Aggregate Intrinsic Value	$ 11,801		$ 191
Aggregate Intrinsic Value, Exercisable	$ 8,035

Equity Incentive Plan (Restrict

Equity Incentive Plan (Restricted Stock) (Details) - Restricted Stock - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number of Shares Awarded
Beginning balance (shares)	1,974,235
Granted (shares)	216,343	64,923
Vested (shares)	(109,274)
Forfeited (shares)	(8,567)
Ending balance (shares)	2,072,737
Weighted Average Grant Date Fair Value
Beginning balance (usd per share)	$ 12.44
Granted (usd per share)	13.01
Vested (usd per share)	13.59
Forfeited (usd per share)	12.54
Ending balance (usd per share)	$ 12.44

Net Periodic Benefit Plan Exp_3

Net Periodic Benefit Plan Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Retirement Benefits [Abstract]
Maximum annual contributions per employee, percent (percentage)	60.00%
Annual benefit, period (in months)	36 months
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)
Interest cost	$ 250,000	$ 324,000
Net loss	142,000	8,000
Total net periodic benefit cost	392,000	$ 332,000
Multi-employer contributions	$ 0

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)derivative
Derivative
Interest rate swaps terminated | derivative			2
Derivative contracts | Cash Flow Hedging
Derivative
Interest rate swaps terminated | derivative			4
Notional amounts of swaps terminated			$ 400
Derivative contracts | Fair Value Hedging
Derivative
Notional amounts of swaps terminated			$ 475
Derivatives designated as hedging instruments: | Derivative contracts
Derivative
Hedging term (months)	22 months
Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense	$ 41.5
Fee income from derivative instrument	$ 1.8	$ 1

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Fair Value of Derivative Instruments on the Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Asset Derivatives
Asset Derivatives
Netting Adjustments (1)	$ 52,521	$ 997
Net Derivatives on the Balance Sheet	14,114	34,577
Cash Collateral (2)	0	0
Net Derivative Amounts	14,114	34,577
Liability Derivatives
Liability Derivatives
Netting Adjustments (1)	105,281	149,046
Net Derivatives on the Balance Sheet	16,792	492
Cash Collateral (2)	0	237
Net Derivative Amounts	16,792	255
Derivatives designated as hedging instruments: | Asset Derivatives
Asset Derivatives
Fair Value	36,505	1,419
Derivatives designated as hedging instruments: | Liability Derivatives
Liability Derivatives
Fair Value	91,835	115,166
Derivatives not designated as hedging instruments: | Asset Derivatives
Asset Derivatives
Fair Value	30,130	34,155
Derivatives not designated as hedging instruments: | Liability Derivatives
Liability Derivatives
Fair Value	30,238	34,372
Interest rate swaps | Derivatives designated as hedging instruments: | Asset Derivatives
Asset Derivatives
Notional Amount	1,250,000	400,000
Fair Value	36,505	1,419
Interest rate swaps | Derivatives designated as hedging instruments: | Liability Derivatives
Liability Derivatives
Notional Amount	2,325,000	2,925,000
Fair Value	91,835	115,166
Interest rate swaps | Derivatives not designated as hedging instruments: | Asset Derivatives
Asset Derivatives
Notional Amount	693,000	641,000
Fair Value	30,130	34,155
Interest rate swaps | Derivatives not designated as hedging instruments: | Liability Derivatives
Liability Derivatives
Notional Amount	693,000	641,000
Fair Value	30,130	34,155
Other Contracts | Derivatives not designated as hedging instruments: | Asset Derivatives
Asset Derivatives
Notional Amount	0	0
Fair Value	0	0
Other Contracts | Derivatives not designated as hedging instruments: | Liability Derivatives
Liability Derivatives
Notional Amount	34,000	34,000
Fair Value	$ 108	$ 217

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Effective Derivative Instrument) (Details) - Derivative contracts - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss)
Amount of gain (loss) recognized in other comprehensive income (loss)	$ 48,121	$ (100,361)
Interest expense
Derivative Instruments, Gain (Loss)
Amount of loss reclassified from accumulated other comprehensive income (loss) to interest expense	$ (10,019)	$ (2,089)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Location in the Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20
Amount of loss reclassified from accumulated other comprehensive income (loss)	$ 180,735	$ 173,283
Derivative not designated as hedging instruments	109	(129)
Interest contracts
Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20
Total amounts of income and expense line items presented in the income statement in which the effects of fair value are recorded	(9,991)	(2,508)
Interest contracts | Fair Value Hedging | Interest income
Fair Value Hedges - Gain or (loss) on relationships in Subtopic 815-20
Hedged items	28	6,769
Derivatives designated as hedging instruments	0	(7,188)
Interest contracts | Cash Flow Hedging | Interest expense | Cash flow hedge | Amount of loss reclassified from accumulated other comprehensive income (loss)
Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20
Amount of loss reclassified from accumulated other comprehensive income (loss)	(10,019)	(2,089)
Interest contracts | Cash Flow Hedging | Other expense
Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20
Amount of gain or (loss) reclassified from accumulated other comprehensive income (loss) as a result that a forecasted transaction is no longer probable of occurring	0	0
Other Contracts | Other income / (expense)
Cash Flow Hedges - Gain or (loss) on relationships in Subtopic 815-20
Derivative not designated as hedging instruments	$ 109	$ (129)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities (Cumulative Basis Adjustment for Fair Value Hedges) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying Amount of the Hedged Assets/(Liabilities)	$ 149,761	$ 0
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)	6,515	$ 8,798
Amortized cost basis of hedged item	408,600
Cumulative adjustment basis of hedged item	6,500
Hedging adjustment on discontinued hedging relationships	$ 6,800

Comprehensive Income (Component

Comprehensive Income (Components of Comprehensive Income (Loss), Gross and Net Of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss)
Net income, gross	$ 99,349	$ 54,159
Net income, tax	(27,074)	(14,647)
Net income	72,275	39,512
Other comprehensive (loss) income, gross	34,150	(48,511)
Other comprehensive (loss) income, tax	(10,641)	15,747
Total other comprehensive income (loss)	23,509	(32,764)
Comprehensive income, gross	133,499	5,648
Comprehensive income, tax	(37,715)	1,100
Total comprehensive income	95,784	6,748
Change in funded status of retirement obligations
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	168	28
Other comprehensive (loss) income, tax	(47)	(8)
Total other comprehensive income (loss)	121	20
Unrealized (losses) gains on debt securities available-for-sale
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	(24,050)	49,409
Other comprehensive (loss) income, tax	5,730	(11,781)
Total other comprehensive income (loss)	(18,320)	37,628
Accretion of loss on debt securities reclassified to held-to-maturity from available-for-sale
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	41	74
Other comprehensive (loss) income, tax	(10)	(18)
Total other comprehensive income (loss)	31	56
Reclassification adjustment for security gains included in net income
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	(398)	0
Other comprehensive (loss) income, tax	99	0
Total other comprehensive income (loss)	(299)	0
Other-than-temporary impairment accretion on debt securities recorded prior to January 1, 2020
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	249	250
Other comprehensive (loss) income, tax	(70)	(70)
Total other comprehensive income (loss)	179	180
Net gains (losses) on derivatives
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income, gross	58,140	(98,272)
Other comprehensive (loss) income, tax	(16,343)	27,624
Total other comprehensive income (loss)	$ 41,797	$ (70,648)

Comprehensive Income (Compone_2

Comprehensive Income (Component of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	$ 2,710,003	$ 2,621,950
Net change	23,509	(32,764)
Balance, end of period	2,770,552	2,594,758
Total accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(40,016)	(18,622)
Net change	23,509	(32,764)
Balance, end of period	(16,507)	(51,386)
Change in funded status of retirement obligations
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(9,485)	(6,690)
Net change	121	20
Balance, end of period	(9,364)	(6,670)
Accretion of loss on debt securities reclassified to held-to-maturity from available-for-sale
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(184)	(386)
Net change	31	56
Balance, end of period	(153)	(330)
Unrealized gains on debt securities available-for-sale and gains included in net income
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	57,204	29,456
Net change	(18,619)	37,628
Balance, end of period	38,585	67,084
Other-than- temporary impairment accretion on debt securities
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(9,809)	(10,629)
Net change	179	180
Balance, end of period	(9,630)	(10,449)
Net gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(77,742)	(30,373)
Net change	41,797	(70,648)
Balance, end of period	$ (35,945)	$ (101,021)

Comprehensive Income (Reclassif

Comprehensive Income (Reclassification Adjustment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Gain on securities, net	$ 651	$ 202
Compensation and fringe benefits	62,427	60,392
Income before income tax expense	99,349	54,159
Income tax expense	(27,074)	(14,647)
Net income	72,275	39,512
Amount of loss reclassified from accumulated other comprehensive income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Income before income tax expense	9,789	2,098
Income tax expense	(2,677)	(567)
Net income	7,112	1,531
Reclassification adjustment for gains included in net income | Amount of loss reclassified from accumulated other comprehensive income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Gain on securities, net	(398)	0
Change in funded status of retirement obligations | Amount of loss reclassified from accumulated other comprehensive income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Amortization of net loss	168	8
Compensation and fringe benefits	168	8
Cash flow hedge | Amount of loss reclassified from accumulated other comprehensive income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Interest expense	$ 10,019	$ 2,090

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Value of Our Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets:
Equity securities	$ 25,727	$ 36,000
Debt securities available-for-sale, at estimated fair value	2,682,938	2,758,437
Government-sponsored enterprises
Assets:
Debt securities available-for-sale, at estimated fair value	4,370	4,482
Federal Home Loan Mortgage Corporation
Assets:
Debt securities available-for-sale, at estimated fair value	1,253,853	1,317,052
Federal National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	1,230,235	1,205,426
Government National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	194,480	231,477
Fair Value, Measurements, Recurring
Assets:
Equity securities	25,727	36,000
Debt securities available-for-sale, at estimated fair value	2,682,938	2,758,437
Liabilities:
Derivative financial instruments	16,792	492
Fair Value, Measurements, Recurring | Interest rate swaps
Assets:
Debt securities available-for-sale, at estimated fair value		34,577
Interest rate swaps	14,114
Liabilities:
Derivative financial instruments	16,684	275
Fair Value, Measurements, Recurring | Other contracts
Liabilities:
Derivative financial instruments	108	217
Fair Value, Measurements, Recurring | Government-sponsored enterprises
Assets:
Debt securities available-for-sale, at estimated fair value	4,370	4,482
Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation
Assets:
Debt securities available-for-sale, at estimated fair value	1,253,853	1,317,052
Fair Value, Measurements, Recurring | Federal National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	1,230,235	1,205,426
Fair Value, Measurements, Recurring | Government National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	194,480	231,477
Level 1 | Fair Value, Measurements, Recurring
Assets:
Equity securities	25,727	36,000
Debt securities available-for-sale, at estimated fair value	0	0
Liabilities:
Derivative financial instruments	0	0
Level 1 | Fair Value, Measurements, Recurring | Interest rate swaps
Assets:
Debt securities available-for-sale, at estimated fair value		0
Interest rate swaps	0
Liabilities:
Derivative financial instruments	0	0
Level 1 | Fair Value, Measurements, Recurring | Other contracts
Liabilities:
Derivative financial instruments	0	0
Level 1 | Fair Value, Measurements, Recurring | Government-sponsored enterprises
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 1 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 1 | Fair Value, Measurements, Recurring | Federal National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 1 | Fair Value, Measurements, Recurring | Government National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 2 | Fair Value, Measurements, Recurring
Assets:
Equity securities	0	0
Debt securities available-for-sale, at estimated fair value	2,682,938	2,758,437
Liabilities:
Derivative financial instruments	16,792	492
Level 2 | Fair Value, Measurements, Recurring | Interest rate swaps
Assets:
Debt securities available-for-sale, at estimated fair value		34,577
Interest rate swaps	14,114
Liabilities:
Derivative financial instruments	16,684	275
Level 2 | Fair Value, Measurements, Recurring | Other contracts
Liabilities:
Derivative financial instruments	108	217
Level 2 | Fair Value, Measurements, Recurring | Government-sponsored enterprises
Assets:
Debt securities available-for-sale, at estimated fair value	4,370	4,482
Level 2 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation
Assets:
Debt securities available-for-sale, at estimated fair value	1,253,853	1,317,052
Level 2 | Fair Value, Measurements, Recurring | Federal National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	1,230,235	1,205,426
Level 2 | Fair Value, Measurements, Recurring | Government National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	194,480	231,477
Level 3 | Fair Value, Measurements, Recurring
Assets:
Equity securities	0	0
Debt securities available-for-sale, at estimated fair value	0	0
Liabilities:
Derivative financial instruments	0	0
Level 3 | Fair Value, Measurements, Recurring | Interest rate swaps
Assets:
Debt securities available-for-sale, at estimated fair value		0
Interest rate swaps	0
Liabilities:
Derivative financial instruments	0	0
Level 3 | Fair Value, Measurements, Recurring | Other contracts
Liabilities:
Derivative financial instruments	0	0
Level 3 | Fair Value, Measurements, Recurring | Government-sponsored enterprises
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 3 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 3 | Fair Value, Measurements, Recurring | Federal National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	0	0
Level 3 | Fair Value, Measurements, Recurring | Government National Mortgage Association
Assets:
Debt securities available-for-sale, at estimated fair value	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	Mar. 31, 2021USD ($)	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Outstanding minimum balance of loans to be evaluated for impairment individually	$ 1,000,000
Outstanding minimum balance of loans that are evaluated for impairment individually	$ 1,000,000
Prepayment speeds | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.0150	0.1446
Prepayment speeds | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.2394	0.2358
Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.1203	0.1203
Discount Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans, measurement input (percentage)	0.00%
Other real estate owned, measurement input (percentage)	0
Discount Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans, measurement input (percentage)	25.00%
Other real estate owned, measurement input (percentage)	0.25

Fair Value Measurements (Carr_2

Fair Value Measurements (Carrying Value of Our Assets Measured at Fair Value on a Non-Recurring Basis) (Details) $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net	$ 12,800	$ 11,200
Collateral-dependent loans	52,845	72,046
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset, fair value	13,353	25,670
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset, fair value	0	0
Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset, fair value	0	0
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Asset, fair value	13,353	25,670
Estimated cash flow | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net	11,409	10,663
Estimated cash flow | Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net	0	0
Estimated cash flow | Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net	0	0
Estimated cash flow | Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net	11,409	10,663
Market comparable | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral-dependent loans	1,944
Operating lease equipment		15,007
Market comparable | Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral-dependent loans	0
Operating lease equipment		0
Market comparable | Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral-dependent loans	0
Operating lease equipment		0
Market comparable | Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral-dependent loans	$ 1,944
Operating lease equipment		$ 15,007
Prepayment speeds | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.0150	0.1446
Prepayment speeds | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.2394	0.2358
Prepayment speeds | Estimated cash flow | Minimum | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.015	0.145
Prepayment speeds | Estimated cash flow | Maximum | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.239	0.236
Prepayment speeds | Estimated cash flow | Weighted Average Input | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
MSR, net input (percentage)	0.1416	0.1776
Lack of marketability | Market comparable | Minimum | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral dependent loans (percentage)	0.60%
Operating lease equipment measurement input (percentage)		0
Lack of marketability | Market comparable | Maximum | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral dependent loans (percentage)	2.10%
Operating lease equipment measurement input (percentage)		0.104
Lack of marketability | Market comparable | Weighted Average Input | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Collateral dependent loans (percentage)	4.38%
Operating lease equipment measurement input (percentage)		0.1041

Fair Value Measurements (Carr_3

Fair Value Measurements (Carrying Amounts and Estimated Fair Values) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial assets:
Equities	$ 25,727	$ 36,000
Debt securities available-for-sale	2,682,938	2,758,437
Debt securities held-to-maturity, net	1,243,268	1,320,872
Carrying value
Financial assets:
Cash and cash equivalents	173,273	170,432
Equities	25,727	36,000
Debt securities available-for-sale	2,682,938	2,758,437
Debt securities held-to-maturity, net	1,191,771	1,247,853
FHLB stock	177,351	159,829
Loans held for sale	1,378	30,357
Net loans	20,572,661	20,580,451
Derivative financial instruments	14,114	34,577
Financial liabilities:
Deposits, other than time deposits	16,457,460	16,807,240
Time deposits	2,533,568	2,718,179
Borrowed funds	3,558,324	3,295,790
Derivative financial instruments	16,792	492
Estimated fair value
Financial assets:
Cash and cash equivalents	173,273	170,432
Equities	25,727	36,000
Debt securities available-for-sale	2,682,938	2,758,437
Debt securities held-to-maturity, net	1,243,268	1,320,872
FHLB stock	177,351	159,829
Loans held for sale	1,378	30,357
Net loans	20,554,149	20,787,917
Derivative financial instruments	14,114	34,577
Financial liabilities:
Deposits, other than time deposits	16,457,460	16,807,240
Time deposits	2,538,406	2,726,230
Borrowed funds	3,616,582	3,367,491
Derivative financial instruments	16,792	492
Level 1 | Estimated fair value
Financial assets:
Cash and cash equivalents	173,273	170,432
Equities	25,727	36,000
Debt securities available-for-sale	0	0
Debt securities held-to-maturity, net	0	0
FHLB stock	177,351	159,829
Loans held for sale	0	0
Net loans	0	0
Derivative financial instruments	0	0
Financial liabilities:
Deposits, other than time deposits	16,457,460	16,807,240
Time deposits	0	0
Borrowed funds	0	0
Derivative financial instruments	0	0
Level 2 | Estimated fair value
Financial assets:
Cash and cash equivalents	0	0
Equities	0	0
Debt securities available-for-sale	2,682,938	2,758,437
Debt securities held-to-maturity, net	1,173,319	1,253,566
FHLB stock	0	0
Loans held for sale	1,378	30,357
Net loans	0	0
Derivative financial instruments	14,114	34,577
Financial liabilities:
Deposits, other than time deposits	0	0
Time deposits	2,538,406	2,726,230
Borrowed funds	3,616,582	3,367,491
Derivative financial instruments	16,792	492
Level 3 | Estimated fair value
Financial assets:
Cash and cash equivalents	0	0
Equities	0	0
Debt securities available-for-sale	0	0
Debt securities held-to-maturity, net	69,949	67,306
FHLB stock	0	0
Loans held for sale	0	0
Net loans	20,554,149	20,787,917
Derivative financial instruments	0	0
Financial liabilities:
Deposits, other than time deposits	0	0
Time deposits	0	0
Borrowed funds	0	0
Derivative financial instruments	$ 0	$ 0

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue
Revenue	$ 8,171	$ 6,969
Fees and service charges
Disaggregation of Revenue
Revenue	3,598	3,950
Other income
Disaggregation of Revenue
Revenue	$ 4,573	$ 3,019

Subsequent Event (Details)

Subsequent Event (Details)	Apr. 28, 2021$ / shares
Subsequent Event
Subsequent Event
Dividends declared (usd per share)	$ 0.14

Uncategorized Items - isbc-2021

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member