Amalgamated Financial (AMAL) 10-K 15 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 11, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40136
Entity Registrant Name	Amalgamated Financial Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2757101
Entity Address, Address Line One	275 Seventh Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	255-6200
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	AMAL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 183,283,173
Entity Common Stock, Shares Outstanding		31,115,136
Documents Incorporated by Reference	The information required by Part III of this Annual Report on Form 10-K is incorporated by reference from the Registrant’s definitive proxy statement relating to the 2021 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates.
Entity Central Index Key	0001823608
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Amalgamated Bank's Consolidated

Amalgamated Bank's Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 7,736	$ 7,596
Interest-bearing deposits in banks	31,033	114,942
Total cash and cash equivalents	38,769	122,538
Securities:
Available for sale, at fair value (amortized cost of $1,513,409 and $1,217,087, respectively)	1,539,862	1,224,770
Held-to-maturity (fair value of $502,425 and $292,837, respectively)	494,449	292,704
Loans held for sale	11,178	2,328
Loans receivable, net of deferred loan origination costs (fees)	3,488,895	3,472,614
Allowance for loan losses	(41,589)	(33,847)
Loans receivable, net	3,447,306	3,438,767
Resell agreements	154,779	0
Accrued interest and dividends receivable	23,970	19,088
Premises and equipment, net	12,977	17,778
Bank-owned life insurance	105,888	80,714
Right-of-use lease asset	36,104	47,299
Deferred tax asset	36,079	31,441
Goodwill	12,936	12,936
Other intangible assets	5,359	6,729
Equity investments	11,735	0
Other assets	47,240	28,246
Total assets	5,978,631	5,325,338
Liabilities
Deposits	5,338,711	4,640,982
Amount	0	75,000
Operating leases	53,173	62,404
Other liabilities	50,926	56,408
Total liabilities	5,442,810	4,834,794
Commitments and contingencies	0	0
Shareholders' Equity
Common stock	310	315
Additional paid-in capital	300,989	305,738
Retained earnings	217,213	181,132
Accumulated other comprehensive income (loss), net of income taxes	17,176	3,225
Total Amalgamated Bank stockholders' equity	535,688	490,410
Noncontrolling interests	133	134
Total stockholders' equity	535,821	490,544
Total liabilities and stockholders’ equity	$ 5,978,631	$ 5,325,338

Amalgamated Bank's Consolidat_2

Amalgamated Bank's Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Available for sale, amortized cost	$ 1,513,409	$ 1,217,087
Held-to-maturity, fair value	$ 502,425	$ 292,837
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	70,000,000	70,000,000
Common stock, shares issued	31,049,525	31,523,442
Common stock, shares outstanding	31,049,525	31,523,442

Amalgamated Bank's Consolidat_3

Amalgamated Bank's Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INTEREST AND DIVIDEND INCOME
Loans	$ 141,983	$ 139,995	$ 129,904
Securities	47,588	44,197	31,576
Federal Home Loan Bank of New York stock	227	813	1,040
Interest-bearing deposits in banks	697	949	1,444
Total interest and dividend income	190,495	185,954	163,964
INTEREST EXPENSE
Deposits	10,452	14,461	9,573
Borrowed funds	27	4,856	4,646
Total interest expense	10,479	19,317	14,219
NET INTEREST INCOME	180,016	166,637	149,745
Provision for (recovery of) loan losses	24,791	3,837	(260)
Net interest income after provision for loan losses	155,225	162,800	150,005
NON-INTEREST INCOME
Trust Department fees	15,222	18,598	18,790
Service charges on deposit accounts	9,201	8,544	8,183
Bank-owned life insurance	3,085	1,649	1,667
Gain (loss) on sale of investment securities available for sale, net	1,605	83	(249)
Gain (loss) on sale of loans, net	2,520	13	(451)
Gain (loss) on other real estate owned, net	(482)	(564)	(494)
Equity method investments	7,411	0	0
Other	2,042	878	872
Total non-interest income	40,604	29,201	28,318
NON-INTEREST EXPENSE
Compensation and employee benefits	69,421	70,276	67,425
Occupancy and depreciation	23,040	17,721	16,481
Professional fees	11,205	11,934	13,688
Data processing	11,330	10,880	11,570
Office maintenance and depreciation	3,314	3,540	3,643
Amortization of intangible assets	1,370	1,374	969
Advertising and promotion	3,514	2,908	3,402
Other	10,692	9,194	10,825
Total non-interest expense	133,886	127,827	128,003
Income before income taxes	61,943	64,174	50,320
Income tax expense (benefit)	15,755	16,972	5,666
Net income	46,188	47,202	44,654
Net income attributable to noncontrolling interests	0	0	0
Net income attributable to Amalgamated Bank and subsidiaries	$ 46,188	$ 47,202	$ 44,654
Earnings per common share - basic (in dollars per share)	$ 1.48	$ 1.49	$ 1.47
Earnings per common share - diluted (in dollars per share)	$ 1.48	$ 1.47	$ 1.46

Amalgamated Bank's Consolidat_4

Amalgamated Bank's Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 46,188	$ 47,202	$ 44,654
Other comprehensive income, net of taxes:
Change in total obligation for postretirement benefits and for prior service credit and for other benefits	362	(183)	909
Net unrealized gains (losses) on securities available for sale:
Unrealized holding gains (losses)	20,374	21,309	(8,995)
Reclassification adjustment for losses (gains) realized in income	(1,604)	(86)	241
Net unrealized gains (losses) on securities available for sale	18,770	21,223	(8,754)
Other comprehensive income (loss), before tax	19,132	21,040	(7,845)
Income tax benefit (expense)	(5,181)	(5,825)	2,179
Total other comprehensive income (loss), net of taxes	13,951	15,215	(5,666)
Total comprehensive income (loss), net of taxes	$ 60,139	$ 62,417	$ 38,988

Amalgamated Bank's Consolidat_5

Amalgamated Bank's Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands		Total	Total Stockholders' Equity	Preferred Stock Class B	Common Stock Class A	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance at Dec. 31, 2017	[1]	$ 344,068	$ 343,934	$ 6,700	$ 281	$ 243,771	$ 99,506	$ (6,324)	$ 134
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		44,654	44,654				44,654
Dividend declared on AREMCO Sr. Preferred class B shares and Jr. Preferred shares		(22)	(22)				(22)
Dividends		(1,907)	(1,907)				(1,907)
Acquisition of New Resource Bank		57,447	57,447		37	57,410
Retirement of class B preferred stock		(6,968)	(6,968)	(6,700)		(268)
SARS conversion to stock-based options		6,845	6,845			6,845
Stock-based compensation expense		920	920			920
Other comprehensive income (loss), net of taxes		(5,666)	(5,666)					(5,666)
Ending balance at Dec. 31, 2018		439,371	439,237	0	318	308,678	142,231	(11,990)	134
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		47,202	47,202				47,202
Dividend declared on AREMCO Sr. Preferred class B shares and Jr. Preferred shares		(22)	(22)				(22)
Dividends		(8,279)	(8,279)				(8,279)
Repurchase of common stock and shares		(5,785)	(5,785)		(3)	(5,782)
Exercise of stock options, net of repurchases		400	400			400
Stock-based compensation expense		2,442	2,442			2,442
Other comprehensive income (loss), net of taxes		15,215	15,215					15,215
Ending balance at Dec. 31, 2019		490,544	490,410	0	315	305,738	181,132	3,225	134
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		46,188	46,188				46,188
Dividend declared on AREMCO Sr. Preferred class B shares and Jr. Preferred shares		(22)	(22)				(22)
Dividends		(10,081)	(10,081)				(10,081)
Redemption of AREMCO class B shares		(5)	(4)				(4)		(1)
Repurchase of common stock and shares		(7,001)	(7,001)		(5)	(6,996)
Exercise of stock options, net of repurchases		(23)	(23)			(23)
Restricted stock unit vesting, net of repurchases		(116)	(116)			(116)
Stock-based compensation expense		2,386	2,386			2,386
Other comprehensive income (loss), net of taxes		13,951	13,951					13,951
Ending balance at Dec. 31, 2020		$ 535,821	$ 535,688	$ 0	$ 310	$ 300,989	$ 217,213	$ 17,176	$ 133
[1]	effected for stock split that occurred on July 27, 2018

Amalgamated Bank's Consolidat_6

Amalgamated Bank's Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.32	$ 0.26	$ 0.06

Amalgamated Bank's Consolidat_7

Amalgamated Bank's Consolidated Statements of Cash Flows - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$ 46,188,000	$ 47,202,000	$ 44,654,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		6,194,000	4,629,000	4,196,000
Amortization of intangible assets		1,370,000	1,374,000	969,000
Deferred income tax expense (benefit)		(407,000)	5,029,000	4,660,000
Provision for (recovery of) loan losses		24,791,000	3,837,000	(260,000)
Stock-based compensation expense		2,386,000	2,442,000	920,000
Net amortization (accretion) on loan fees, costs, premiums, and discounts		3,199,000	1,471,000	(1,719,000)
Net amortization on securities		1,837,000	(5,845,000)	489,000
OTTI loss (gain) recognized in earnings		900	(3,000)	(8,000)
Net loss (income) from equity method investments		(7,411,000)	0	0
Net loss (gain) on sale of securities available for sale		(1,605,000)	(83,000)	249,000
Gain (loss) on sale of loans, net		(2,520,000)	(13,000)	451,000
Gain (loss) on other real estate owned, net		482,000	564,000	494,000
Net loss (gain) on owned property held for sale		(1,394,000)	0	0
Net (gain) on redemption of bank-owned life insurance		(1,594,000)	0	0
Proceeds from sales of loans held for sale		159,309,000	21,014,000	4,086,000
Originations of loans held for sale		(165,569,000)	(22,502,000)	0
Decrease (increase) in cash surrender value of bank-owned life insurance		(1,514,000)	(1,565,000)	(853,000)
Decrease (increase) in accrued interest and dividends receivable		(4,882,000)	(4,701,000)	(1,962,000)
Decrease (increase) in other assets	[1]	11,041,000	18,180,000	(16,575,000)
Increase (decrease) in accrued expenses and other liabilities	[2]	(4,131,000)	12,431,000	(8,772,000)
Net cash provided by operating activities		65,771,000	83,461,000	31,019,000
CASH FLOWS FROM INVESTING ACTIVITIES
Originations and purchases of loans, net of principal repayments		(36,599,000)	(350,263,000)	(94,706,000)
Proceeds from sales of loans		0	115,856,000	4,199,000
Purchase of securities available for sale		(683,688,000)	(479,311,000)	(595,286,000)
Purchase of securities held to maturity		(256,093,000)	(291,601,000)	(2,000,000)
Proceeds from sales of securities available for sale		94,698,000	245,260,000	125,390,000
Maturities, principal payments and redemptions of securities available for sale		278,524,000	205,557,000	249,973,000
Maturities, principal payments and redemptions of securities held to maturity		52,779,000	9,016,000	7,515,000
Decrease (increase) in resell agreements		(154,779,000)	0	0
Purchase of equity method investments		(31,039,000)	0	0
Purchase of bank-owned life insurance		(25,000,000)	0	0
Decrease (increase) of FHLBNY stock, net		3,105,000	147,000	15,120,000
Purchases of premises and equipment		(1,612,000)	(753,000)	(1,427,000)
Proceeds from redemption of bank-owned life insurance		2,934,000	0	0
Proceeds from sale of owned assets		1,613,000	0	0
Proceeds from sale of other real estate owned		20,000	209,000	1,172,000
Net cash acquired in business combination		0	0	31,744,000
Net cash used in investing activities		(755,137,000)	(545,883,000)	(258,306,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits		697,729,000	535,676,000	510,300,000
Net increase (decrease) in FHLB advances		(75,000,000)	(17,875,000)	(309,725,000)
Net increase (decrease) in federal funds purchased		0	0	(5,000)
Issuance of class A common stock		0	0	0
Redemption of AREMCO class B shares		(5,000)	0	(6,968,000)
Repurchase of shares		(7,001,000)	(5,785,000)	0
Dividends paid		(9,987,000)	(8,301,000)	(1,929,000)
Exercise of stock options, net		(23,000)	400,000	0
Restricted stock unit vesting, net		(116,000)	0	0
Net cash provided by financing activities		605,597,000	504,115,000	191,673,000
Increase (decrease) in cash, cash equivalents, and restricted cash		(83,769,000)	41,693,000	(35,614,000)
Cash, cash equivalents, and restricted cash at beginning of year		122,538,000	80,845,000	116,459,000
Cash, cash equivalents, and restricted cash at end of year		38,769,000	122,538,000	80,845,000
Supplemental disclosures of cash flow information:
Interest paid during the year		11,476,000	18,966,000	14,621,000
Income taxes paid during the year		9,823,000	9,311,000	3,558,000
Supplemental non-cash investing activities:
Right-of-use assets obtained in exchange for lease liabilities		777,000	55,813,000	0
Initial recognition of Operating leases liability		0	71,122,000	0
Loans transferred to other real estate owned		0	738,000	603,000
Purchase of securities available for sale, net not settled		12,080,000	0	0
Fair value of assets acquired		0	0	380,326,000
Fair value of liabilities assumed		$ 0	$ 0	$ 366,218,000
[1]	Includes $11.2 million and $8.4 million of right of use asset amortization for the respective periods
[2]	Includes $2.3 million and $2.2 million accretion of operating lease liabilities for the respective periods

Amalgamated Bank's Consolidat_8

Amalgamated Bank's Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Right of use asset amortization	$ 11.2	$ 8.4
Accretion of operating lease liabilities	$ 2.3	$ 2.2

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting, Consolidation and the Use of Estimates The accounting and reporting policies of Amalgamated Bank (unless we state otherwise or the context otherwise requires, references in this report to “we,” “our,” “us,” the “Bank,” and “Amalgamated” refer to Amalgamated Bank) conform to accounting principles generally accepted in the United States of America (GAAP) and predominant practices within the banking industry. The Bank uses the accrual basis of accounting for financial statement purposes. The accompanying consolidated financial statements include the accounts of the Bank and its majority-owned and wholly-owned subsidiaries. All significant inter-company transactions and balances are eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. In particular, estimates and assumptions are used in measuring the fair value of certain financial instruments, determining the appropriateness of the allowance for loan and lease losses (“allowance”), evaluating potential other-than-temporary securities impairment, assessing the ability to realize deferred tax assets, and the valuation of share-based payment awards. Estimates and assumptions are based on available information and judgment; therefore actual results could differ from those estimates. Cash, Cash Equivalents and Restricted Cash For purposes of reporting cash flows, cash, cash equivalents, and restricted cash include cash, due from banks, interest-bearing deposits in other banks and federal funds sold with original maturities of three months or less. The Bank had $5.0 million and $3.0 million of cash deposits in other banks in excess of the FDIC insurance limits as of December 31, 2020 and December 31, 2019, respectively. This exposure is monitored as part of the Bank’s counterparty credit review which is conducted at least annually. Additionally the Bank had $0.4 million and $0.4 million in restricted cash as of December 31, 2020 and December 31, 2019, respectively and is included in Total cash and cash equivalents on the Consolidated Statements of Financial Condition. The Bank’s restricted cash reflects funds held in other financial institutions to secure business operating rights or contractually obligated minimum account funding requirements. Securities Purchases of investments in debt securities are designated as either trading, available for sale or held to maturity depending on the intent and ability to hold the securities. The initial designation is made at the time of purchase. During the years ended December 31, 2020 and 2019, there were no transfers of securities between available for sale and held to maturity categories. Additionally, as of December 31, 2020 and December 31, 2019, the Bank had no equity securities or securities designated as trading. Securities available for sale are carried at fair value, with any net unrealized appreciation or depreciation in fair value reported net of taxes as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Debt securities held to maturity are carried at amortized cost provided management does not have the intent to sell these securities and does not anticipate that it will be necessary to sell these securities before the full recovery of principal and interest, which may be at maturity. The Bank reported its investments in "Property Assessed Clean Energy" ("PACE") assessments as held to maturity securities. Management conducts a periodic evaluation of securities available for sale and held to maturity to determine if the amortized cost basis of a security has been other-than-temporarily impaired (OTTI). The evaluation of other-than-temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties. If the amortized cost of an investment exceeds its fair value, management evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than amortized cost, the probability of a near-term recovery in value, whether management intends to sell the security and whether it is more likely than not that the Bank will be required to sell the security before full recovery of the investment or maturity. Management also considers specific adverse conditions related to the financial health, projected cash flow and business outlook for the investee, including industry and sector performance, operational and financing cash flow factors and rating agency actions. For debt investment securities deemed to be other-than-temporarily impaired, the investment is written down to fair value with the estimated credit loss charged to current earnings and the noncredit-related impairment loss charged to other comprehensive income. If market, industry and/or investee conditions deteriorate, the Bank may incur future impairments. Premiums (discounts) on debt securities are amortized (accreted) to income using the level yield method to the contractual maturity date adjusted for actual prepayment experience. Realized gains and losses on sale of securities are determined using the specific identification method and are reported in non-interest income. Loans Held for Sale Loans held for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to current earnings. Gains or losses resulting from sales of loans held for sale, net of unamortized deferred fees and costs, are recognized at the time of sale and are included in other non-interest income on the Consolidated Statements of Income. The Bank had $11.2 million and $2.3 million of performing residential loans classified as held for sale as of December 31, 2020 and December 31, 2019, respectively. Loans and Loan Interest Income Recognition Loans are stated at the principal amount outstanding, net of charge-offs, deferred origination costs and fees and purchase premiums and discounts. Loan origination and commitment fees and certain direct and indirect costs incurred in connection with loan originations are deferred and amortized to income over the life of the related loans as an adjustment to yield. Premiums or discounts on purchased portfolios are amortized or accreted to income using the level yield method. Interest on loans is generally recognized on the accrual basis. Interest is not accrued on loans that are more than 90 days delinquent on payments, and any interest that was accrued but unpaid on such loans is reversed from interest income at that time, or when deemed to be uncollectible. Interest subsequently received on such loans is recorded as interest income or alternatively as a reduction in the amortized cost of the loan if there is significant doubt as to the collectability of the unpaid principal balance. Loans are returned to accrual status when principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due, both principal and interest, according to the contractual terms. Individual loans which are deemed to be impaired are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or at the loan’s observable market price or the fair value of the collateral net of estimated selling costs if the loan is collateral dependent. Individual loan impairment evaluation is generally limited to multifamily, CRE, C&I, construction and certain restructured 1-4 family residential loans. Smaller balance loans including HELOCs, consumer and student loans, as well as non-restructured 1-4 family residential loans, are considered homogeneous. When assessing homogenous loans for impairment, the Bank considers regulatory guidance concerning the classification and management of retail credits. The aggregate amount of individually and collectively measured loan impairment is included as a component of the allowance. Loans are considered Troubled Debt Restructurings (TDRs) if the borrower is experiencing financial difficulty and is afforded a concession by the Bank, such as, but not limited to: (i) payment deferral; (ii) a reduction of the stated interest rate for the remaining contractual life of the loan; (iii) an extension of the loan’s original contractual term at a stated interest rate lower than the current market rate for a new loan with similar risk; (iv) capitalization of interest; or (v) forgiveness of principal or interest. Generally, TDRs are placed on non-accrual status (and reported as non-performing loans) until the loan qualifies for return to accrual status. A TDR loan is considered impaired. A loan extended or renewed at a stated interest rate equal to the market interest rate for new debt with similar risk is not considered to be a TDR. In accordance with the accounting guidance for business combinations, no allowance is brought forward on any of the loans we acquire. For purchased non-credit impaired loans, credit and interest rate discounts representing the principal losses expected over the life of the loan are a component of the initial fair value and the total combined discount is accreted to interest income over the life of the loan. Subsequent to the acquisition date, the method used to evaluate the sufficiency of the discount is similar to organic loans, and if necessary, additional reserves are recognized in the allowance. Allowance for Loan Losses The allowance for loan and lease losses (“allowance”) is a valuation allowance for probable incurred credit losses. The Bank monitors its entire loan portfolio on a regular basis and considers numerous factors including (i) end-of-period loan levels and portfolio composition, (ii) observable trends in non-performing loans, (iii) the Bank’s historical loan loss experience, (iv) known and inherent risks in the portfolio, (v) underwriting practices, (vi) adverse situations which may affect the borrower’s ability to repay, (vii) the estimated value and sufficiency of any underlying collateral, (viii) credit risk grading assessments, (ix) loan impairment, and (x) economic conditions. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Additions to the allowance are charged to expense, and realized losses, net of recoveries, are charged to the allowance. Based on the determination of management, the overall level of allowance is periodically adjusted to account for the inherent and specific risks within the entire portfolio. Based on review of the classified loans and the overall allowance levels as they relate to the entire loan portfolio at December 31, 2020, management believes the allowance is adequate. Generally, a loan is considered for charge-off when it is in default of either principal or interest after 90 days or more. In addition to delinquency criteria, other triggering events may include, but are not limited to, notice of bankruptcy by the borrower or guarantor, death of the borrower, and deficiency balance from the sale of collateral. Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, often including obtaining collateral at exercise of the commitment. An allowance is calculated and recorded in other liabilities within the Consolidated Statements of Financial Condition. While management uses available information to recognize losses on loans, future additions or reductions to the allowance may be necessary due to changes in one or more evaluation factors; management’s assumptions as to rates of default, loss or recovery, or management’s intent with regard to disposition. A shift in lending strategy may warrant a change in the allowance due to a changing credit risk profile. In addition, various regulatory agencies, as an integral part of the examination process, periodically review the Bank’s allowance. Such agencies may require the Bank to recognize additions to, or charge-offs against, the allowance based on their judgment about information available to them at the time of their examination. Other Real Estate Owned Other real estate owned (“OREO”) properties acquired through, or in lieu of, foreclosure are recorded initially at fair value less costs to sell. Any write-down of the recorded investment in the related loan is charged to the allowance prior to transfer. OREO assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest income. Costs relating to the development and improvement of other real estate owned are capitalized. Costs relating to holding other real estate owned, including real estate taxes, insurance and maintenance, are charged to expense as incurred. Goodwill and Intangible Assets Goodwill resulting from business combinations is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangible assets are not amortized, but tested for impairment at least annually, or more frequently if events and circumstances exist that indicate the carrying amount of the asset may be impaired. The Bank elected June 30 as the annual date for impairment testing. Other intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets are amortized on an accelerated method over their estimated useful lives of ten years. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of furniture, fixtures, and equipment is computed by the straight-line method over the estimated useful lives of the related assets. Furniture and fixtures are generally depreciated over ten years. Equipment, computer hardware and computer software are normally depreciated over three Leases The Bank determines whether a contract is or contains a lease at inception. For leases with terms greater than twelve months under which the Bank is lessee, right-of-use ("ROU") assets and lease liabilities are recorded at the commencement date. Lease liabilities are initially recorded based on the present value of future lease payments over the lease term. ROU assets are initially recorded at the amount of the associated lease liabilities plus prepaid lease payments and initial direct costs, less any lease incentives received. The cost of short term leases is recognized on a straight line basis over the lease term. The lease term includes options to extend if the exercise of those options is reasonably certain and includes termination options if there is reasonable certainty the options will not be exercised. The Bank uses its incremental borrowing rate (“IBR”) as the discount rate to the remaining lease payments to derive a present value calculation for initial measurement of lease liabilities. The IBR reflects the interest rate the Bank would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. Leases are classified as financing or operating leases at commencement. All of the Bank's leases are classified as operating leases as of December 31, 2020. Operating lease cost is recognized in the Consolidated Statements of Income on a straight line basis over the lease terms. Variable lease costs are recognized in the period in which the obligation for those costs is incurred. Bank-Owned Life Insurance The Bank invests in bank-owned life insurance (“BOLI”). BOLI involves the purchase of life insurance policies by the Bank on a chosen group of employees. The Bank is the owner and beneficiary of the policies. The insurance and earnings thereon is used to offset a portion of future employee benefit costs. BOLI is carried at the cash surrender value of the underlying policies. Earnings from BOLI, as well as changes in cash surrender value, are recognized as non-interest income. Advertising Costs The Bank expenses advertising and promotion costs as incurred. Income Taxes There are two components of income tax expense: current and deferred. Current income tax expense (benefit) approximates cash to be paid (refunded) for income taxes for the applicable period. Deferred income tax expense (benefit) results from differences between assets and liabilities measured for financial reporting and for income-tax return purposes. The Bank records as a deferred tax asset on its Consolidated Statement of Financial Condition an amount equal to the tax credit and tax loss carry-forwards and tax deductions (tax benefits) that we believe will be available to us to offset or reduce the amounts of our income taxes in future periods. Under applicable federal and state income tax laws and regulations, such tax benefits will expire if not used within specified periods of time. Accordingly, the ability to fully utilize our deferred tax asset may depend on the amount of taxable income that we generate during those time periods. At least once each year, or more frequently, if warranted, we make estimates of future taxable income that we believe we are likely to generate during those future periods. If we conclude, on the basis of those estimates and the amount of the tax benefits available to us, that it is more likely than not that we will be able to fully utilize those tax benefits prior to their expiration, we recognize the deferred tax asset in full on our Consolidated Statement of Financial Condition. If, however, we conclude on the basis of those estimates and the amount of the tax benefits available to us that it has become more likely than not that we will be unable to utilize those tax benefits in full prior to their expiration, then we would establish (or increase any existing) a valuation allowance to reduce the deferred tax asset on our Consolidated Statement of Financial Condition to the amount which we believe we are more likely than not to be able to utilize. Such a reduction is implemented by recognizing a non-cash charge that would have the effect of increasing the provision, or reducing any benefit, for income taxes that we would otherwise have recorded in our Consolidated Statements of Income. The determination of whether and the extent to which we will be able to utilize our deferred tax asset involves management judgments and assumptions that are subject to period-to-period changes as a result of changes in tax laws, changes in the market, or economic conditions that could affect our operating results or variances between our actual operating results and our projected operating results, as well as other factors. When measuring the amount of current taxes to be paid (or refunded) management considers the merit of various tax treatments in the context of statutory, judicial and regulatory guidance. Management also considers results of recent tax audits and historical experience. While management considers the amount of income taxes payable (or receivable) to be appropriate based on information currently available, future additions or reductions to such amounts may be necessary due to unanticipated events or changes in circumstances. Management has not taken, and does not expect to take, any position in a tax return which it deems to be uncertain. The Bank recognizes interest and penalties related to income tax matters in income tax expense. The deferral method of accounting is used for investments that generate investment tax credits. Under this method, the investment tax credits are recognized as a reduction of the related asset. Post-Retirement Benefit Plans The Bank sponsors several post-retirement benefit plans for current and former employees. Contributions to the trustee of a multi-employer defined benefit pension plan are recorded as expense in the period of contribution. The Bank made $6.3 million, $6.3 million and $6.4 million in pension plan contributions for the 2020, 2019 and 2018 plan years, respectively. Plan obligations and related expenses for other post retirement plans are calculated using actuarial methodologies. The measurement of such obligations and expenses requires management to make certain assumptions, in particular the discount rate, which is evaluated on an annual basis. Other factors include retirement patterns, mortality and turnover assumptions. The Bank uses a December 31 measurement date for its post retirement benefit plans. FASB ASC 715 30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires the Bank to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial condition and to recognize changes in that funded status in the year the changes occur through comprehensive income. Comprehensive Income Comprehensive income includes net income and all other changes in equity during a period, except those resulting from investments by owners and distributions to owners. Other comprehensive income includes income, expenses, gains and losses that under generally accepted accounting principles are included in comprehensive income but excluded from net income. Other comprehensive income (loss) and accumulated other comprehensive income (loss) are reported net of deferred income taxes. Accumulated other comprehensive income for the Bank includes unrealized holding gains or losses on available for sale securities, and actuarial gains or losses on the Bank’s pension plans. FASB ASC 715‑30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires employers to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year the changes occur through comprehensive income. Stock-Based Compensation Stock-based compensation is recorded in accordance with FASB ASC No. 718, “Accounting for Stock-Based Compensation” which requires the Bank to record compensation cost for stock options and restricted stock granted to employees in return for employee service. The cost is measured at the fair value of the options and restricted stock when granted, and this cost is expensed over the employee service period, which is normally the vesting period of the options and restricted stock. Forfeitures of options and restricted stock result in a retirement of the related award and a reversal of the cost previously incurred. The Bank's performance-based restricted stock units (“RSUs”) are subject to the achievement of the Bank's 2019 corporate goals. The Bank's stock-based compensation plans are further described in Note 13, Employee Benefit Plans. Variable Interest Entities The consolidated financial statements include the accounts of certain variable interest entities (“VIEs”). The Bank considers a voting rights entity to be a subsidiary and consolidates if the Bank has a controlling financial interest in the entity. VIEs are consolidated if the Bank has the power to direct the activities of the VIE that significantly impact financial performance and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE (i.e., the Bank is the primary beneficiary). Investments in VIEs where the Bank is not the primary beneficiary of a VIE are accounted for using the equity method of accounting. The determination of whether the Bank is the primary beneficiary of a VIE is reassessed on an ongoing basis. The consolidation status may change as a result of these reassessments. These investments are included in Other Assets in the Bank’s Consolidated Statements of Financial Condition. The maximum potential exposure to losses relative to investments in VIEs is generally limited to the sum of the outstanding balance, future funding commitments and any related loans to the entity, both funded and unfunded. Loans to these entities are underwritten in substantially the same manner as other loans and are generally secured. Additional disclosures regarding VIEs are further described in Note 18, Variable Interest Entities. Resell Agreements The Bank enters into short-term agreements for the purchase of government guaranteed loans with simultaneous agreements to resell (resell agreements). The Bank obtains possession of collateral with a market value equal to or in excess of the principal amount loaned under resell agreements. As of December 31, 2020, the Bank had $154.8 million in resell agreements entered into at par, and earned $0.8 million in interest income for the year ended December 31, 2020. Interest income on resell agreements is reported on the "securities interest income" line of the Consolidated Statements of Income. There were no resell agreements in 2019. Segment Information Public companies are required to report certain financial information about significant revenue-producing segments of the business for which such information is available and utilized by the chief operating decision maker. Substantially all of our operations occur through the Bank and involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of its banking operation, which constitutes our only operating segment for financial reporting purposes. We do not consider our trust and investment management business as a separate segment. The Bank formed a Holding Company on March 1, 2021, which did not exist as of December 31, 2020. Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation. The reclassifications had no impact to the Consolidated Statements of Income or the Consolidated Statements of Changes in Stockholders’ Equity. Risks and Uncertainties The COVID-19 pandemic continues to create extensive disruptions to the global economy and financial markets and to businesses and the lives of individuals throughout the world. In particular, the COVID-19 pandemic has severely restricted the level of economic activity in our markets. Federal and state governments have taken, and may continue to take, unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief to businesses and individuals impacted by the pandemic. Although in various locations certain activity restrictions have been relaxed and businesses and schools have reopened with some level of success, in many states and localities the number of individuals diagnosed with COVID-19 has increased significantly, which may cause a freezing or, in certain cases, a reversal of previously announced relaxation of activity restrictions and may prompt the need for additional aid and other forms of relief. The impact of the COVID-19 pandemic is fluid and continues to evolve, adversely affecting many of our clients. The unprecedented and rapid spread of COVID-19 and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, consumer spending, and other economic activities has resulted in less economic activity, lower equity market valuations and significant volatility and disruption in financial markets. In addition, due to the COVID-19 pandemic, market interest rates have declined significantly, with the 10-year Treasury bond falling below 1.00% on March 3, 2020, for the first time. In March 2020, the Federal Open Market Committee reduced the targeted federal funds interest rate range to 0% to 0.25% percent. These reductions in interest rates and the other effects of the COVID-19 pandemic have had, and are expected to continue to have, possibly materially, an adverse effect on our business, financial condition and results of operations. The ultimate extent of the impact of the COVID-19 pandemic on our business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including the effect of governmental and private sector initiatives, the effect of the recent rollout of vaccinations for the virus, whether such vaccinations will be effective against any resurgence of the virus, including any new strains, and the ability for customers and businesses to return to their pre-pandemic routine.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Adopted in 2019 In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)”. The new lease accounting standard requires the recognition of a right of use asset and related lease liability by lessees for leases classified as operating leases under current GAAP. Topic 842, which replaces the current guidance under Topic 840, retains a distinction between finance leases and operating leases. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by lessee does not significantly change from current GAAP. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize right of use assets and lease liabilities. The standard became effective for annual reporting periods beginning after December 15, 2018. A modified retrospective transition approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. Transition accounting for leases that expired before the earliest comparative period presented is not required. The Bank elected the effective date transition method of applying the new leases standard at the beginning of the period of adoption on January 1, 2019. The standard provides several optional practical expedients in transition. The Bank elected the “package of practical expedients”, which permits the Bank not to reassess prior conclusions about lease identification, lease classification and initial direct costs and allows it to continue to account for leases that commenced prior to the adoption date as operating leases. The Bank analyzed all its significant leases to determine if a lease was in scope of the ASU and determined 15 facilities leases were in scope. Based on leases outstanding at December 31, 2018, the Bank recorded a $71.1 million Operating leases liability and a $55.8 million related Right-of-use asset upon commencement on January 1, 2019. The measurement of the Right-of-use asset included a $15.3 million reduction to account for accrued rent previously established under Topic 840. The Bank has presented its Right-of-use asset and related Operating leases liability on the Consolidated Statements of Financial Condition. Refer to Note 16 - Leases for further details. Accounting Standards Adopted in 2020 In June 2016, the FASB amended existing guidance for ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350)”, to simplify the subsequent measurement of goodwill. The amendment requires an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The amendments also eliminate the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments became effective for public business entities for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied prospectively. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments. As a result of the Bank’s acquisition of New Resource Bank (“NRB”) in the latter half of the second quarter of 2018, the Bank elected June 30, 2019 as the beginning date for annual impairment testing. The Bank adopted ASU 2017-04 during the second quarter of 2020 and performed its annual impairment test. The estimated fair value of the Bank was in excess of the carrying value and the Bank, as a sole reporting unit, was not at risk of failing the quantitative analysis. Adoption did not have an effect on the Bank’s operating results or financial condition. Refer to Note 17 - Goodwill and Intangible Assets for further details. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820)—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”, which improves the effectiveness of fair value measurement disclosures. The amendments modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement as follows: removes disclosure requirements for the amount and reasons for transfer between Level 1 and Level 2 assets and liabilities in the fair value hierarchy; modifies disclosure requirements for transfers into and out of Level 3 assets and liabilities in the fair value hierarchy; adds disclosure requirements for the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update became effective for all entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Adoption of ASU 2018-13 did not have a material effect on the Bank’s operating results or financial condition. Recently Issued, Not Yet Adopted Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model and provides for recording credit losses on available for sale debt securities through an allowance account. ASU 2016-13 also requires certain incremental disclosures. In October 2019, the FASB voted to extend the adoption date for entities eligible to be smaller reporting companies, public business entities (PBEs) that are not SEC filers, and entities that are not PBEs from January 1, 2020 to January 1, 2023. Based on the Bank’s election as an Emerging Growth Company under the Jumpstart Our Business Startups Act to use the extended transition period for complying with any new or revised financial accounting standards, the Bank currently anticipates a January 1, 2023 adoption date. In preparation, the Bank has performed work in assessing and enhancing its technology environment and related data needs and availability. Additionally, a Management Committee comprised of members from multiple departments has been established to monitor the Bank’s progress towards adoption. As adoption will require the implementation of significant changes to the existing credit loss estimation model and is dependent on the economic forecast, and given the length of time before our adoption date, evaluating the overall impact of the ASU on the Bank’s Consolidated Financial Statements is not yet determinable.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The Bank records unrealized gains and losses, net of taxes, on securities available for sale in other comprehensive income (loss) in the Consolidated Statements of Changes in Stockholders’ Equity. Gains and losses on securities available for sale are reclassified to operations as the gains or losses are recognized. OTTI losses on debt securities are reflected in earnings as realized losses to the extent the impairment is related to credit losses. The amount of the impairment related to other factors is recognized in other comprehensive income (loss). The Bank also recognizes as a component of other comprehensive income (loss) the actuarial gains or losses as well as the prior service costs or credits that arise during the period from post-retirement benefit plans. Other comprehensive income (loss) components and related income tax effects were as follows: Year Ended December 31, (In thousands) 2020 2019 2018 Change in total obligation for postretirement benefits and for prior service credit and for other benefits $ 362 $ (183) $ 909 Income tax effect (99) 57 (247) Net change in total obligation for postretirement benefits and prior service credit and for other benefits 263 (126) 662 Unrealized holding gains (losses) on available for sale securities $ 20,374 $ 21,309 $ (8,995) Reclassification adjustment for losses (gains) realized in income (1,604) (86) 241 Change in unrealized gains (losses) on available for sale securities 18,770 21,223 (8,754) Income tax effect (5,082) (5,882) 2,426 Net change in unrealized gains (losses) on available for sale securities 13,688 15,341 (6,328) Total $ 13,951 $ 15,215 $ (5,666) The following is a summary of the accumulated other comprehensive income (loss) balances, net of income taxes: (In thousands) Balance as of January 1, 2020 Current Period Income Tax Effect Balance as of Unrealized gains (losses) on benefits plans $ (2,319) $ 362 $ (99) $ (2,056) Unrealized gains (losses) on available for sale securities 5,544 18,770 (5,082) 19,232 Total $ 3,225 $ 19,132 $ (5,181) $ 17,176 (In thousands) Balance as of January 1, 2019 Current Period Income Tax Effect Balance as of Unrealized gains (losses) on benefits plans $ (2,193) $ (183) $ 57 $ (2,319) Unrealized gains (losses) on available for sale securities (9,797) 21,223 (5,882) 5,544 Total $ (11,990) $ 21,040 $ (5,825) $ 3,225 The following represents the reclassifications out of accumulated other comprehensive income (loss): (In thousands) Year Ended December 31, Affected Line Item in the Consolidated Statements of Income 2020 2019 2018 Realized gains (losses) on sale of available for sale securities $ 1,605 $ 83 $ (249) Gain (loss) on sale of investment securities available for sale, net Recognized gains (losses) on OTTI securities (1) 3 8 Non-Interest Income - other Income tax expense (benefit) 438 24 (67) Income tax expense (benefit) Total reclassifications, net of income tax $ 1,166 $ 62 $ (174) Prior service credit on pension plans and other postretirement benefits $ 28 $ 29 $ 29 Compensation and employee benefits Income tax expense (benefit) (8) (8) (8) Income tax expense (benefit) Total reclassifications, net of income tax $ 20 $ 21 $ 21 Total reclassifications, net of income tax $ 1,186 $ 83 $ (153)

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2020 are as follows: December 31, 2020 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 12,977 $ 322 $ — $ 13,299 GSE CMOs 353,783 12,690 (52) 366,421 GSE commercial certificates & CMO 421,488 11,548 (422) 432,614 Non-GSE residential certificates 33,120 281 (17) 33,384 Non-GSE commercial certificates 45,179 112 (323) 44,968 866,547 24,953 (814) 890,686 Other debt: U.S. Treasury 200 3 — 203 ABS 595,062 4,356 (1,872) 597,546 Trust preferred 14,627 — (854) 13,773 Corporate 36,973 683 (2) 37,654 Other — — — — 646,862 5,042 (2,728) 649,176 Total available for sale $ 1,513,409 $ 29,995 $ (3,542) $ 1,539,862 Held to maturity: Mortgage-related: GSE residential certificates $ 611 $ 38 $ — $ 649 Non GSE commercial certificates 212 15 — 227 823 53 — 876 Other debt: PACE Assessments 421,036 4,870 — 425,906 Municipal 67,490 3,019 — 70,509 Other 5,100 34 — 5,134 493,626 7,923 — 501,549 Total held to maturity $ 494,449 $ 7,976 $ — $ 502,425 As of December 31, 2020, available for sale securities with a fair value of $966.5 million were pledged. The majority of the securities were pledged to the FHLB to secure outstanding advances, letters of credit and to provide additional borrowing potential. In addition, securities were pledged to provide capacity to borrow from the Federal Reserve and to collateralize municipal deposits. The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2019 are as follows: December 31, 2019 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 36,639 $ 97 $ (351) $ 36,385 GSE CMOs 277,512 5,350 (428) 282,434 GSE commercial certificates & CMO 250,357 4,003 (447) 253,913 Non-GSE residential certificates 58,643 459 (94) 59,008 Non-GSE commercial certificates 46,868 49 (43) 46,874 670,019 9,958 (1,363) 678,614 Other debt: U.S. Treasury 199 — — 199 ABS 524,289 1,634 (2,146) 523,777 Trust preferred 14,623 — (726) 13,897 Corporate 7,957 326 — 8,283 Other — — — — 547,068 1,960 (2,872) 546,156 Total available for sale $ 1,217,087 $ 11,918 $ (4,235) $ 1,224,770 Held to maturity: Mortgage-related: GSE residential certificates $ 635 $ 23 $ — $ 658 Non GSE commercial certificates 270 19 — 289 905 42 — 947 Other debt: PACE Assessments 263,805 810 — 264,615 Municipal 22,894 598 (1,307) 22,185 Other 5,100 — (10) 5,090 291,799 1,408 (1,317) 291,890 Total held to maturity $ 292,704 $ 1,450 $ (1,317) $ 292,837 As of December 31, 2019, available for sale and held to maturity securities with a fair value of $711.2 million and $0.6 million, respectively, were pledged. The majority of the securities were pledged to the FHLB to secure outstanding advances, letters of credit and to provide additional borrowing potential. In addition, securities were pledged to provide capacity to borrow from the Federal Reserve and to collateralize municipal deposits. The following summarizes the amortized cost and fair value of debt securities available for sale and held to maturity, exclusive of mortgage-backed securities, by their contractual maturity as of December 31, 2020. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty. Available for Sale Held to Maturity (In thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ — $ — $ 2,000 $ 2,001 Due after one year through five years 21,063 21,403 3,100 3,133 Due after five years through ten years 231,427 230,416 10,152 10,207 Due after ten years 394,372 397,357 478,374 486,208 $ 646,862 $ 649,176 $ 493,626 $ 501,549 Proceeds received and gains and losses realized on sales of securities available for sale are summarized below: Year Ended December 31, (In thousands) 2020 2019 2018 Proceeds $ 94,698 $ 245,260 $ 125,390 Realized gains $ 2,111 $ 1,912 $ 403 Realized losses (506) (1,829) (652) Net realized gains (losses) $ 1,605 $ 83 $ (249) The Bank controls and monitors inherent credit risk in its securities portfolio through diversification, concentration limits, periodic securities reviews, and by investing a significant portion of the securities portfolio in U.S. Government sponsored entity (GSE) obligations. GSEs include the Federal Home Loan Mortgage Corporation (FHLMC), the Federal National Mortgage Association (FNMA), the Government National Mortgage Association (GNMA) and the Small Business Administration (SBA). GNMA is a wholly-owned U.S. Government corporation whereas FHLMC and FNMA are private. Mortgage-related securities may include mortgage pass-through certificates, participation certificates and collateralized mortgage obligations (CMOs). The following summarizes the fair value and unrealized losses for those available for sale securities as of December 31, 2020 and 2019, segregated between securities that have been in an unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer at the respective dates: December 31, 2020 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-related: GSE CMOs $ 31,106 $ (35) $ 12,910 $ (17) $ 44,016 $ (52) GSE commercial certificates & CMOs 116,667 (287) 75,126 (135) 191,793 (422) Non-GSE residential certificates 2,138 (9) 3,077 (8) 5,215 (17) Non-GSE commercial certificates 47 — 29,207 (323) 29,254 (323) Other debt: ABS 3,010 (1) 298,410 (1,871) 301,420 (1,872) Trust preferred — — 13,773 (854) 13,773 (854) Corporate 6,998 (2) — — 6,998 (2) $ 159,966 $ (334) $ 432,503 $ (3,208) $ 592,469 $ (3,542) December 31, 2019 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-related: GSE residential certificates $ 4,849 $ (11) $ 18,620 $ (340) $ 23,469 $ (351) GSE CMOs 43,794 (118) 23,995 (310) 67,789 (428) GSE commercial certificates 59,615 (428) 14,001 (19) 73,616 (447) Non-GSE residential certificates 2,836 (11) 13,537 (83) 16,373 (94) Non-GSE commercial certificates 19,276 (25) 7,048 (18) 26,324 (43) Other debt: ABS 95,095 (218) 191,650 (1,928) 286,745 (2,146) Trust preferred — — 13,897 (726) 13,897 (726) $ 225,465 $ (811) $ 282,748 $ (3,424) $ 508,213 $ (4,235) The temporary impairment of equity and fixed income securities (mortgage-related securities, U.S. Treasury and GSE securities, trust preferred securities and corporate debt) is primarily attributable to changes in overall market interest rates and/or changes in credit spreads since the investments were acquired. In general, as market interest rates rise and/or credit spreads widen, the fair value of fixed rate securities will decrease, as market interest rates fall and/or credit spreads tighten, the fair value of fixed rate securities will increase. Management considers that the temporary impairment of the Bank’s investments in trust preferred securities as of December 31, 2020 is primarily due to a widening of credit spreads since the time these investments were acquired, as well as market uncertainty for this class of investments. As of December 31, 2020, temporarily impaired trust preferred securities consist of direct investments in the trust preferred issuances of two large financial institutions. As of December 31, 2020, the amortized cost and fair value of the Bank’s investment in these trust preferred securities was $14.6 million and $13.8 million, respectively. All of the trust preferred securities were rated investment grade by not less than three nationally recognized statistical rating organization’s (“NRSROs”). All of the issues are current as to their dividend payments and management is not aware of a decision of any trust preferred issuer to exercise its option to defer dividend payments. As of December 31, 2020, excluding GSE, US Treasury and TRUPS, discussed above, the temporarily impaired securities totaled $342.9 million with an unrealized loss of $2.2 million. With the exception of $47,000 which were not rated, the remaining securities were rated investment grade by at least one NRSROs with no ratings below investment grade. All issues were current as to their interest payments. Management considers that the temporary impairment of these investments as of December 31, 2020 is primarily due to an increase in market interest rates since the time these investments were acquired. During the years ended December 31, 2020, December 31, 2019 and December 31, 2018, the Bank recorded an OTTI loss of $900 and a recovery of $2,900 and $8,000, respectively. For all the Bank’s security investments that are temporarily impaired as of December 31, 2020, management does not have the intent to sell these investments, does not believe it will be necessary to do so before anticipated recovery, and believes the Bank has the ability to hold these investments. The Bank expects to collect all amounts due according to the contractual terms of these investments. Therefore, the Bank does not consider these securities to be other-than-temporarily impaired at December 31, 2020. None of these positions or other securities held in the portfolio or sold during the year were purchased with the intent of selling them or would otherwise be classified as trading securities under ASC No. 320, Investments – Debt and Equity Securities. Events which may cause material declines in the fair value of debt and equity security investments may include, but are not limited to, deterioration of credit metrics, higher incidences of default, worsening liquidity, worsening global or domestic economic conditions or adverse regulatory action. Management does not believe that there are any cases of unrecorded OTTI as of December 31, 2020; however it is reasonably possible that the Bank may recognize OTTI in future periods.

FEDERAL HOME LOAN BANK STOCK

FEDERAL HOME LOAN BANK STOCK	12 Months Ended
	Dec. 31, 2020
Advances from Federal Home Loan Banks [Abstract]
FEDERAL HOME LOAN BANK STOCK	FEDERAL HOME LOAN BANK STOCK As a condition of membership with the Federal Home Loan Bank of New York (FHLBNY), the Bank is required to hold FHLBNY stock in an amount equal to 0.125% of its aggregate mortgage related assets plus 4.5% of its outstanding FHLBNY advances. The Bank’s holdings of FHLBNY stock are pledged against outstanding advances. FHLBNY stock is a non-marketable equity security and is, therefore, reported at cost, which equals par value (the amount at which shares have been redeemed in the past). The investment is periodically evaluated for impairment based on, among other things, the capital adequacy of the FHLBNY and its overall financial condition. Dividend income on FHLBNY stock amounted to approximately $0.2 million, $0.8 million, and $1.0 million during the years ended December 31, 2020, 2019, and 2018,respectively. Borrowed funds are summarized as follows: (In thousands) December 31, 2020 2019 Amount Weighted Average Rate Amount Weighted Average Rate FHLB advances $ — — % $ 75,000 1.84 % FHLBNY advances are collateralized by the FHLBNY stock owned by the Bank plus a pledge of other eligible assets comprised of securities and mortgage loans. As of December 31, 2020, the value of the other eligible assets has an estimated market value net of haircut totaling $1.6 billion (comprised of securities of $657.5 million and mortgage loans of $953.1 million). The pledged securities have been delivered to the FHLBNY. The fair value of assets pledged to the FHLBNY is required to be not less than 110% of the outstanding advances. None of the FHLBNY advances are structured to provide the counterparty with the option to require the Bank to prepay the borrowings before maturity. However, the Bank has the option to prepay the borrowings subject to paying a prepayment fee based on market conditions existing at the time of prepayment. During the years ended December 31, 2020 and 2019, the Bank did not elect to prepay any borrowed funds. Interest expense on borrowed funds is summarized as follows: (In thousands) Year Ended December 31, 2020 2019 2018 FHLBNY advances $ 27 $ 4,835 $ 4,646 Fed Funds Purchased — 21 — $ 27 $ 4,856 $ 4,646

LOANS RECEIVABLE, NET

LOANS RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
LOANS RECEIVABLE, NET	LOANS RECEIVABLE, NET Loans receivable are summarized as follows: (In thousands) December 31, December 31, Commercial and industrial $ 677,192 $ 474,342 Multifamily 947,177 976,380 Commercial real estate 372,736 421,947 Construction and land development 56,087 62,271 Total commercial portfolio 2,053,192 1,934,940 Residential real estate lending 1,238,697 1,366,473 Consumer and other 190,676 163,077 Total retail portfolio 1,429,373 1,529,550 3,482,565 3,464,490 Net deferred loan origination costs (fees) 6,330 8,124 3,488,895 3,472,614 Allowance for loan losses (41,589) (33,847) $ 3,447,306 $ 3,438,767 The Bank had $11.2 million and $2.3 million in residential 1-4 family mortgages held for sale at December 31, 2020 and December 31, 2019, respectively. As of December 31, 2020, the Bank participated at par in $51.3 million of PPP loans originated by various third parties. These are purchased participation loans that are included in commercial and industrial loans above, and have no related allowance. The following table presents information regarding the quality of the Bank’s loans as of December 31, 2020: (In thousands) 30-89 Days Non- 90 Days or Total Past Current Current Total Loans Commercial and industrial $ — $ 12,444 $ 1,404 $ 13,848 $ — $ 663,344 $ 677,192 Multifamily 3,590 9,575 — 13,165 — 934,012 947,177 Commercial real estate 10,574 3,433 — 14,007 — 358,729 372,736 Construction and land development 9,974 11,184 — 21,158 — 34,929 56,087 Total commercial portfolio 24,138 36,636 1,404 62,178 — 1,991,014 2,053,192 Residential real estate lending 19,526 23,280 — 42,806 376 1,195,515 1,238,697 Consumer and other 1,015 632 — 1,647 — 189,029 190,676 Total retail portfolio 20,541 23,912 — 44,453 376 1,384,544 1,429,373 $ 44,679 $ 60,548 $ 1,404 $ 106,631 $ 376 $ 3,375,558 $ 3,482,565 The following table presents information regarding the quality of the Bank’s loans as of December 31, 2019: (In thousands) 30-89 Days Non- 90 Days or Total Past Current Current Total Loans Commercial and industrial $ 3,970 $ 781 $ 22 $ 4,773 $ 14,783 $ 454,786 $ 474,342 Multifamily — — — — — 976,380 976,380 Commercial real estate 1,020 3,693 — 4,713 — 417,234 421,947 Construction and land development 2,635 3,652 — 6,287 — 55,984 62,271 Total commercial portfolio 7,625 8,126 22 15,773 14,783 1,904,384 1,934,940 Residential real estate lending 17,817 7,384 424 25,625 390 1,340,458 1,366,473 Consumer and other 1,782 328 — 2,110 — 160,967 163,077 Total retail portfolio 19,599 7,712 424 27,735 390 1,501,425 1,529,550 $ 27,224 $ 15,838 $ 446 $ 43,508 $ 15,173 $ 3,405,809 $ 3,464,490 In general, a modification or restructuring of a loan constitutes a troubled debt restructuring ("TDR") if the Bank grants a concession to a borrower experiencing financial difficulty. Loans modified as TDRs are placed on non-accrual status until the Bank determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months. The Bank’s TDRs primarily involve rate reductions, forbearance of arrears or extension of maturity. TDRs are included in total impaired loans as of the respective date. For a loan modification to be considered a TDR in accordance with ASC 310-40, both of the following conditions must be met: the borrower is experiencing financial difficulty, and the creditor has granted a concession (except for an “insignificant delay in payment”, defined as 6 months or less). On March 22, 2020, federal banking regulators issued an interagency statement that included guidance on their approach for the accounting of loan modifications in light of the economic impact of the COVID-19 pandemic. The guidance interprets current accounting standards and indicates that a lender can conclude that a borrower is not experiencing financial difficulty if short-term modifications are made in response to COVID-19, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant related to the loans in which the borrower is less than 30 days past due on its contractual payments at the time a modification program is implemented. The agencies confirmed in working with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES” Act) was enacted to help the nation’s economy recover from the COVID-19 pandemic. The CARES Act provides $2.2 trillion of economy-wide financial stimulus in the form of financial aid to individuals, businesses, nonprofit entities, states, and municipalities. Under Section 4022 of the CARES Act, a borrower with a federally backed mortgage loan that is experiencing a financial hardship due to COVID-19 may request a forbearance (i.e., payment deferral), regardless of delinquency status, for up to 180 days, which may be extended for an additional 180 days at the borrower’s request. Such relief will be available until the earlier of January 1, 2022 (this date was updated from December 31, 2020 after the Consolidated Appropriations Act, 2021 was enacted on December 27, 2020) and 60 days from the date of termination of the national emergency declaration. During this period, no fees, penalties, or interest beyond those scheduled or calculated as if the borrower had made all contractual payments on time and in full will accrue. In addition, Section 4013 of the CARES Act provides temporary relief from the accounting and reporting requirements for TDRs regarding certain loan modifications related to COVID-19. Specifically, the CARES Act provides that a financial institution may elect to suspend the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR. Modifications that qualify for this exception include a forbearance arrangement, an interest rate modification, a repayment plan, or any other similar arrangement that defers or delays the payment of principal or interest, that occurs for a loan that was not more than 30 days past due as of December 31, 2019. As of December 31, 2020, the Bank had $41.0 million of loan balances that were either on a COVID-19 related payment deferral or in the process of receiving a payment deferral. Of these loans, $33.0 million in loans are receiving deferrals of principal and interest, $4.7 million are receiving a deferral of principal only, and $3.6 million are receiving a deferral of interest only. The following table presents information regarding the Bank’s COVID-19 related loan deferrals as of December 31, 2020: Portfolio Balance Outstanding Balance in Deferral Balance in Process of Deferral Total Deferred Loans Total Deferrals as % of Portfolio (In thousands, rounded) Commercial and industrial $ 677,000 $ 4,000 $ — $ 4,000 0.6% Multifamily 947,000 15,000 — 15,000 1.6% Commercial real estate, construction and land development 429,000 2,000 — 2,000 0.5% Total commercial portfolio 2,053,000 21,000 — 21,000 1.0% Residential real estate lending 1,239,000 18,000 — 18,000 1.5% Consumer and other 191,000 2,000 — 2,000 1.0% Total retail portfolio 1,430,000 20,000 — 20,000 1.4% Totals $ 3,483,000 $ 41,000 $ — $ 41,000 1.2% December 31, 2020 December 31, 2019 (In thousands) Accruing Non- Total Accruing Non- Total Commercial and industrial $ 1,648 $ 12,116 $ 13,764 $ 8,984 $ 14,783 $ 23,767 Commercial real estate — 3,433 3,433 5,114 3,693 8,807 Construction and land development — 2,682 2,682 — 3,652 3,652 Residential real estate lending 17,905 2,654 20,559 20,269 2,891 23,160 $ 19,553 $ 20,885 $ 40,438 $ 34,367 $ 25,019 $ 59,386 The financial effects of TDRs granted for the twelve months ended December 31, 2020 are as: Weighted Average Interest Rate (In thousands) Number Recorded Pre-Modification Post-Modification Charge-off Commercial and industrial 4 $ 2,109 5.76 % 5.76 % $ — Commercial real estate — — — % — % — Construction and land development — — — % — % — Residential real estate lending 3 992 5.92 % 3.96 % 18 7 $ 3,101 5.81 % 5.18 % $ 18 During the twelve months ended December 31, 2020 there were four residential 1-4 family 1 st mortgage TDR loans in the amount of $0.7 million that re-defaulted, out of which none were again modified as a TDR. The financial effects of TDRs granted for the twelve months ended December 31, 2019 are as follows: Weighted Average Interest Rate (In thousands) Number Recorded Pre-Modification Post-Modification Charge-off Commercial and industrial 3 $ 22,131 5.86 % 5.86 % $ — Commercial real estate 1 3,693 8.54 % 6.54 % — Construction and land development 1 3,652 6.50 % 8.00 % — Residential real estate lending 1 221 6.00 % 4.50 % — 6 $ 29,697 6.27 % 6.20 % $ — During the twelve months ended December 31, 2019 there were four residential 1-4 family 1 st mortgage TDR loans in the amount of $1.2 million that re-defaulted, out of which none were again modified as a TDR. The following tables summarize the Bank’s loan portfolio by credit quality indicator as of December 31, 2020: (In thousands) Pass Special Mention Substandard Doubtful Total Commercial and industrial $ 627,553 $ 16,407 $ 32,770 $ 462 $ 677,192 Multifamily 775,605 138,090 33,482 — 947,177 Commercial real estate 276,712 41,420 54,604 — 372,736 Construction and land development 28,967 15,936 11,184 — 56,087 Residential real estate lending 1,215,417 — 23,280 — 1,238,697 Consumer and other 190,044 — 632 — 190,676 Total loans $ 3,114,298 $ 211,853 $ 155,952 $ 462 $ 3,482,565 The following tables summarize the Bank’s loan portfolio by credit quality indicator as of December 31, 2019: (In thousands) Pass Special Mention Substandard Doubtful Total Commercial and industrial $ 427,279 $ 14,445 $ 32,151 $ 467 $ 474,342 Multifamily $ 976,380 $ — $ — $ — $ 976,380 Commercial real estate $ 418,254 $ — $ 3,693 $ — $ 421,947 Construction and land development $ 58,619 $ — $ 3,652 $ — $ 62,271 Residential real estate lending $ 1,359,089 $ — $ 7,384 $ — $ 1,366,473 Consumer and other $ 162,749 $ — $ 328 $ — $ 163,077 Total loans $ 3,402,370 $ 14,445 $ 47,208 $ 467 $ 3,464,490 The above classifications follow regulatory guidelines and can be generally described as follows: • pass loans are of satisfactory quality • special mention loans have a potential weakness or risk that may result in the deterioration of future repayment • substandard loans are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged (these loans have a well-defined weakness and there is a distinct possibility that the Bank will sustain some loss) • doubtful loans, based on existing circumstances, have weaknesses that make collection or liquidation in full highly questionable and improbable In addition, residential loans are classified utilizing an inter-agency methodology that incorporates the extent of delinquency. Assigned risk rating grades are continuously updated as new information is obtained. The following table provides information regarding the methods used to evaluate the Bank’s loan portfolio for impairment by portfolio, and the Bank’s allowance by portfolio based upon the method of evaluating loan impairment as of December 31, 2020: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Loans: Individually evaluated for impairment $ 14,706 $ 9,575 $ 3,433 $ 11,184 $ 41,579 $ — $ 80,477 Collectively evaluated for impairment 662,486 937,602 369,303 44,903 $ 1,197,118 $ 190,676 $ 3,402,088 Total loans $ 677,192 $ 947,177 $ 372,736 $ 56,087 $ 1,238,697 $ 190,676 $ 3,482,565 Allowance for loan losses: Individually evaluated for impairment $ 3,118 $ 1,933 $ — $ — $ 1,187 $ — $ 6,238 Collectively evaluated for impairment 5,947 8,391 6,213 2,077 $ 11,143 $ 1,580 $ 35,351 Total allowance for loan losses $ 9,065 $ 10,324 $ 6,213 $ 2,077 $ 12,330 $ 1,580 $ 41,589 The following table provides information regarding the methods used to evaluate the Bank’s loan portfolio for impairment by portfolio, and the Bank’s allowance by portfolio based upon the method of evaluating loan impairment as of as of December 31, 2019: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Loans: Individually evaluated for impairment $ 24,870 $ — $ 8,807 $ 3,652 $ 28,043 $ — $ 65,372 Collectively evaluated for impairment 449,472 976,380 413,140 58,619 $ 1,338,430 $ 163,077 $ 3,399,118 Total loans $ 474,342 $ 976,380 $ 421,947 $ 62,271 $ 1,366,473 $ 163,077 $ 3,464,490 Allowance for loan losses: Individually evaluated for impairment $ 6,144 $ — $ — $ — $ 1,325 $ — $ 7,469 Collectively evaluated for impairment 4,982 5,210 2,492 808 $ 12,824 $ 62 $ 26,378 Total allowance for loan losses $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 The activities in the allowance by portfolio for the year ended December 31, 2020 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 Provision for (recovery of) loan losses 9,175 5,114 7,508 2,238 (2,302) 3,058 24,791 Charge-offs (11,293) — (3,787) (970) (492) (1,691) (18,233) Recoveries 57 — — 1 975 151 1,184 Ending Balance $ 9,065 $ 10,324 $ 6,213 $ 2,077 $ 12,330 $ 1,580 $ 41,589 The activities in the allowance by portfolio for the year ended December 31, 2019 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 16,046 $ 4,736 $ 2,573 $ 1,089 $ 11,987 $ 764 $ 37,195 Provision for (recovery of) loan losses 2,620 474 (81) (281) 1,251 (146) 3,837 Charge-offs (9,236) — — — (683) (710) (10,629) Recoveries 1,696 — — — 1,594 154 3,444 Ending Balance $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 The activities in the allowance by portfolio for the year ended December 31, 2018 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 15,455 $ 5,280 $ 3,377 $ 188 $ 11,265 $ 400 $ 35,965 Provision for (recovery of) loan losses 570 (544) (804) 901 (950) 567 $ (260) Charge-offs (33) — — — (791) (378) $ (1,202) Recoveries 54 — — — 2,463 175 $ 2,692 Ending Balance $ 16,046 $ 4,736 $ 2,573 $ 1,089 $ 11,987 $ 764 $ 37,195 The following is additional information regarding the Bank’s individually impaired loans and the allowance related to such loans as of December 31, 2020 and 2019: December 31, 2020 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 20,824 $ 12,660 $ 20,898 $ — Construction and land development 11,184 7,418 12,204 — Commercial real estate 3,433 6,120 4,023 — 35,441 26,198 37,125 — Loans with a related allowance: Residential real estate lending 20,755 22,151 24,680 1,187 Multifamily 9,575 4,788 9,589 1,933 Commercial and industrial 14,706 19,788 27,210 3,118 45,036 46,727 61,479 6,238 Total individually impaired loans: Residential real estate lending 41,579 34,811 45,578 1,187 Multifamily 9,575 4,788 9,589 1,933 Construction and land development 11,184 7,418 12,204 — Commercial real estate 3,433 6,120 4,023 — Commercial and industrial 14,706 19,788 27,210 3,118 $ 80,477 $ 72,925 $ 98,604 $ 6,238 December 31, 2019 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 4,496 $ 4,397 $ 4,558 $ — Construction and land development 3,652 3,652 3,702 — Commercial real estate 8,807 11,921 9,137 — 16,955 19,970 17,397 — Loans with a related allowance: Residential real estate lending 23,547 25,206 27,288 1,325 Commercial and industrial 24,870 18,512 29,534 6,144 48,417 43,718 56,822 7,469 Total individually impaired loans: Residential real estate lending 28,043 29,603 31,846 1,325 Construction and land development 3,652 3,652 3,702 — Commercial real estate 8,807 11,921 9,137 — Commercial and industrial 24,870 18,512 29,534 6,144 $ 65,372 $ 63,688 $ 74,219 $ 7,469 December 31, 2018 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 4,297 $ 4,203 $ 5,930 $ — 4,297 4,203 5,930 — Loans with a related allowance: Residential real estate lending 26,864 28,398 30,029 1,487 Commercial real estate mortgages 15,035 10,468 15,096 — Commercial and industrial 12,153 12,361 16,041 8,067 54,052 51,227 61,166 9,554 Total individually impaired loans: Residential real estate lending 31,161 32,601 35,959 1,487 Commercial real estate 15,035 10,468 15,096 — Commercial and industrial 12,153 12,361 16,041 8,067 $ 58,349 $ 55,430 $ 67,096 $ 9,554 As of December 31, 2020 and 2019, mortgage loans with an unpaid principal balance of $1.2 billion and $1.1 billion respectively, are pledged to the FHLBNY to secure outstanding advances and letters of credit.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment are summarized as follows: December 31, 2020 2019 (In thousands) Buildings, premises and improvements $ 33,280 $ 40,325 Furniture, fixtures and equipment 5,856 7,207 Projects in process 550 207 39,686 47,739 Accumulated depreciation and amortization (26,709) (29,961) $ 12,977 $ 17,778

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2020
Statistical Disclosure for Banks [Abstract]
DEPOSITS	DEPOSITS Deposits are summarized as follows: December 31, 2020 2019 (In thousands) Amount Weighted Average Rate Amount Weighted Average Rate Non-interest bearing demand deposit accounts $ 2,603,274 0.00 % $ 2,179,247 0.00 % NOW accounts 205,653 0.06 % 230,919 0.38 % Money market deposit accounts 1,914,391 0.13 % 1,508,674 0.37 % Savings accounts 343,368 0.12 % 328,587 0.19 % Time deposits 272,025 0.86 % 393,555 1.29 % $ 5,338,711 0.10 % $ 4,640,982 0.26 % The scheduled maturities of time deposits as of December 31, 2020 are as follows: (In thousands) 2021 $ 231,239 2022 24,872 2023 7,364 2024 5,014 2025 2,811 Thereafter 725 $ 272,025 Time deposits of $250,000 or more aggregated to $31.2 million and $63.1 million as of December 31, 2020 and 2019, respectively. From time to time the Bank will issue time deposits through the Certificate of Deposit Account Registry Service (CDARS) for the purpose of providing FDIC insurance to Bank customers with balances in excess of FDIC insurance limits. CDARS deposits totaled approximatel y $123.8 million and $192.0 million as of December 31, 2020 and 2019, respectively. The average balance of such deposits was approximately $160.1 million and $190.1 million f or the years ended December 31, 2020 and 2019, respectively. Total deposits include deposits from Workers United and other related entities in the amounts of $95.8 million and $86.9 million as of December 31, 2020 and 2019, respectively. Included in total deposits are state and municipal deposits totaling $15.2 million and $100.4 million as of December 31, 2020 and 2019, respectively. Such deposits are secured by letters of credit issued by the FHLBNY or by securities pledged with the FHLBNY.

BORROWED FUNDS

BORROWED FUNDS	12 Months Ended
	Dec. 31, 2020
Federal Home Loan Banks [Abstract]
BORROWED FUNDS	FEDERAL HOME LOAN BANK STOCK As a condition of membership with the Federal Home Loan Bank of New York (FHLBNY), the Bank is required to hold FHLBNY stock in an amount equal to 0.125% of its aggregate mortgage related assets plus 4.5% of its outstanding FHLBNY advances. The Bank’s holdings of FHLBNY stock are pledged against outstanding advances. FHLBNY stock is a non-marketable equity security and is, therefore, reported at cost, which equals par value (the amount at which shares have been redeemed in the past). The investment is periodically evaluated for impairment based on, among other things, the capital adequacy of the FHLBNY and its overall financial condition. Dividend income on FHLBNY stock amounted to approximately $0.2 million, $0.8 million, and $1.0 million during the years ended December 31, 2020, 2019, and 2018,respectively. Borrowed funds are summarized as follows: (In thousands) December 31, 2020 2019 Amount Weighted Average Rate Amount Weighted Average Rate FHLB advances $ — — % $ 75,000 1.84 % FHLBNY advances are collateralized by the FHLBNY stock owned by the Bank plus a pledge of other eligible assets comprised of securities and mortgage loans. As of December 31, 2020, the value of the other eligible assets has an estimated market value net of haircut totaling $1.6 billion (comprised of securities of $657.5 million and mortgage loans of $953.1 million). The pledged securities have been delivered to the FHLBNY. The fair value of assets pledged to the FHLBNY is required to be not less than 110% of the outstanding advances. None of the FHLBNY advances are structured to provide the counterparty with the option to require the Bank to prepay the borrowings before maturity. However, the Bank has the option to prepay the borrowings subject to paying a prepayment fee based on market conditions existing at the time of prepayment. During the years ended December 31, 2020 and 2019, the Bank did not elect to prepay any borrowed funds. Interest expense on borrowed funds is summarized as follows: (In thousands) Year Ended December 31, 2020 2019 2018 FHLBNY advances $ 27 $ 4,835 $ 4,646 Fed Funds Purchased — 21 — $ 27 $ 4,856 $ 4,646

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2020
Regulatory Capital [Abstract]
REGULATORY CAPITAL	REGULATORY CAPITAL The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital requirements that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. The Bank’s capital amounts and classifications also are subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total, tier 1, and common equity tier 1 capital (as defined in the regulations) to risk weighted assets, and of tier 1 capital (as defined in the regulations) to average assets. Management believes as of December 31, 2020 and 2019, the Bank met all capital adequacy requirements. As of December 31, 2020, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” the Bank must maintain minimum total risk-based, tier 1 risk-based, common equity tier 1 risk-based, tier 1 leverage ratios as set forth in the table below. Since that notification, there are no conditions or events that management believes have changed the institution’s category. The Bank’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy Purposes (1) To Be Considered (In thousands) Amount Ratio Amount Ratio Amount Ratio December 31, 2020 Total capital to risk weighted assets $ 534,684 14.25 % $ 300,199 8.00 % $ 375,249 10.00 % Tier I capital to risk weighted assets 491,913 13.11 % 225,149 6.00 % 300,199 8.00 % Tier I capital to average assets 491,913 7.97 % 246,904 4.00 % 308,630 5.00 % Common equity tier 1 to risk weighted assets 491,913 13.11 % 168,862 4.50 % 243,912 6.50 % December 31, 2019 Total capital to risk weighted assets $ 490,831 14.01 % $ 280,265 8.00 % $ 350,331 10.00 % Tier I capital to risk weighted assets 455,668 13.01 % 210,199 6.00 % 280,265 8.00 % Tier I capital to average assets 455,668 8.90 % 204,852 4.00 % 256,065 5.00 % Common equity tier 1 to risk weighted assets 455,668 13.01 % 157,649 4.50 % 227,715 6.50 % (1) Amounts are shown exclusive of the applicable capital conservation buffer of 2.50%.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of the provision (benefit) for income taxes for the years ended December 31, 2020 and 2019 are as follows: Year Ended December 31, (In thousands) 2020 2019 2018 Current: Federal $ 15,010 $ 10,656 $ 351 State and local 1,152 1,287 655 16,162 11,943 1,006 Deferred: Federal (3,497) 1,880 8,775 State and local 3,090 3,149 (4,115) (407) 5,029 4,660 Total income tax provision $ 15,755 $ 16,972 $ 5,666 A reconciliation of the expected income tax expense at the statutory federal income tax rate of 21% to the Bank’s actual income tax benefit and effective tax rate for the years ended December 31, 2020 and 2019 is as follows: Year Ended December 31, 2020 2019 2018 (In thousands) Amount % Amount % Amount % Tax expense at federal income tax rate $ 13,008 21.00 % $ 13,476 21.00 % $ 10,567 21.00 % Increase (decrease) resulting from: Tax exempt income (862) -1.39 % (423) -0.66 % (351) -0.70 % Change in DTA rate 333 0.54 % (186) -0.29 % 89 0.18 % State tax, net of federal benefit 3,551 5.73 % 4,030 6.28 % 2,905 5.77 % Stock options windfall (3) -0.01 % (68) -0.11 % — 0.00 % Incremental DTA realization / valuation allowance release — 0.00 % — 0.00 % (7,632) -15.17 % Other (272) -0.44 % 143 0.23 % 88 0.17 % Total $ 15,755 25.43 % $ 16,972 26.45 % $ 5,666 11.25 % As of December 31, 2020 the Bank had remaining federal, state and local NOL carryforwards of approximately $3.9 million, $74.4 million and $53.2 million, respectively, which are available to offset future federal, state and local income and which expire over varying periods from 2028 through 2037. Deferred income tax assets and liabilities result from temporary differences between the carrying value of assets and liabilities for financial reporting purposes and for income tax return purposes. These assets and liabilities are measured using the enacted tax rates and laws that are currently in effect and are reported net in the accompanying Consolidated Statement of Financial Condition. The significant components of the net deferred tax assets and liabilities as of December 31, 2020 and 2019, are as follows: December 31, (In thousands) 2020 2019 Deferred tax assets: Excess tax basis over carrying value of assets: Allowance for loan losses $ 16,644 $ 11,157 Nonaccrual interest income 689 499 Postretirement and other employee benefits 436 464 Depreciation and amortization 1,657 1,413 Operating leases 14,515 17,373 Federal, state and local net operating loss carryforward 9,270 12,756 Other, net 2,723 1,160 Gross deferred tax asset 45,934 44,822 Deferred tax liabilities: Available for sale securities carried at fair value for financial statement purposes (7,221) (2,139) Purchase accounting adjustments, net (966) (904) Operating leases (9,855) (13,381) Gross deferred tax liabilities (18,042) (16,424) Deferred tax asset, net $ 27,892 $ 28,398 As of December 31, 2020, the Bank’s deferred tax assets were valued without an allowance as management concluded that it is more likely than not that the entire amount may be realized. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. Management reassesses the need for a valuation allowance on an annual basis, or more frequently if warranted. If it is later determined that a valuation allowance is required, it generally will be an expense to the income tax provision in the period such determination is made. The Bank has no uncertain tax positions. The Bank and its subsidiaries are subject to Federal, New York State, California, Colorado, District of Columbia, Florida, New Jersey and New York City income taxes. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination; with a tax examination presumably to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. As of December 31, 2020, the Bank is subject to possible examination by federal, state, and local taxing authorities for 2016 and subsequent tax years. Income tax receivable, which is included in other assets, totaled $23.1 million and $0.8 million as of December 31, 2020 and 2019, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The two-class method is used in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common stockholders for the period are allocated between common stockholders and participating securities according to participation rights in undistributed earnings. Our options and restricted stock units are not considered participating securities as they do not receive dividend distributions and the Bank has no other participating securities. The factors used in the earnings per share computation follow: (In thousands, except per share amounts) Year Ended December 31, 2020 2019 2018 Net income attributable to Amalgamated Bank $ 46,188 $ 47,202 $ 44,654 Dividends paid on preferred stock (22) (22) (22) Income attributable to common stock $ 46,166 $ 47,180 $ 44,632 Weighted average common shares outstanding, basic 31,133 31,733 30,369 Basic earnings per common share $ 1.48 $ 1.49 $ 1.47 Income attributable to common stock $ 46,166 $ 47,180 $ 44,632 Weighted average common shares outstanding, basic 31,133 31,733 30,369 Incremental shares from assumed conversion of options and RSUs 96 472 264 Weighted average common shares outstanding, diluted 31,229 32,205 30,633 Diluted earnings per common share $ 1.48 $ 1.47 $ 1.46

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Bank offers various pension and retirement benefit plans, as well as a long-term incentive plan to eligible employees and directors. Significant benefit plans are described as follows: Pension Plan The Bank participates in a multi-employer non-contributory pension plan which covers substantially all full-time employees, both unionized and non-unionized. Employees generally qualify for participation in the plan on the first January 1 st or July 1 st after attaining age 21 and completing 1,000 Hours of Service in a 12 consecutive month period. The collective bargaining agreement covering the unionized employees was last renewed in March 2020. Under the terms of this plan, participants vest 100% upon completion of five years of service, as defined in the plan document. Plan assets are invested in the Consolidated Retirement Fund (CRF). The Employer Identification Number of the CRF is 133177000 and the Plan Number is 001. As a multi-employer plan, the Administrator of the CRF does not make separate actuarial valuations with respect to each employer, nor are plan assets so segregated. The benefits provided by the CRF are being funded by the Bank and other participating employers through contributions to the Administrator, which are necessary to maintain the CRF on a sound actuarial basis. Contributions are calculated based on a percentage of participants’ qualifying base salary, which percentage is determined from time to time by the CRF Board of Trustees. The Pension Protection Act of 2006 (PPA) ranks the funded status of multi-employer plans depending upon a plan’s current and projected funding. A plan is in the Red Zone (Critical Status) if it has a current funded percentage (as defined) of less than 65%. A plan is in the Yellow Zone (Endangered Status) if it has a current funded percentage of less than 80%, or projects a credit balance deficit within seven years. A plan is in the Green Zone if it has a current funded percentage greater than 80% and does not have a projected credit balance deficit within seven years. For the 2020 and 2019 plan years, pursuant to the PPA, the CRF was certified to be in the Green Zone (i.e. neither Critical Status nor Endangered Status). The following table summarizes certain information regarding contributions made by the Bank to the CRF: (In thousands) Contributions Bank contributions greater than 5% of total contributions received by the CRF? Year Ended December 31, 2020 $ 6,278 Yes 2019 6,254 Yes 2018 6,392 Yes The amounts of contributions presented in the preceding table represent expense recorded by the Bank during the respective periods. Retirement Benefit Plans The Bank offers a post-retirement health and life insurance plan and provides other non-qualifying supplemental retirement plan benefits to certain existing and former directors and employees. The Bank’s policy is to fund the cost of health and life benefits in amounts determined in accordance with the plan provisions. The other retirement benefit plans generally contain vesting provisions and service requirements. These plans are unfunded and represent a general obligation of the Bank. The following table summarizes the plans’ benefit obligation, the changes in the plans’ benefit obligation, changes in plan assets and the plan’s funded status: (In thousands) 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 4,527 $ 4,469 Service cost — — Interest cost 118 165 Amendments — — Actuarial loss (gain) (71) 373 Benefits paid (480) (480) Benefit obligation at end of year 4,094 4,527 Change in plan assets: Employer contributions 480 480 Benefits paid (480) (480) Plan assets at end of year — — Benefit obligation, included in other liabilities $ 4,094 $ 4,527 (In thousands) 2020 2019 2018 Net actuarial loss $ 3,200 $ 3,591 $ 3,436 Prior service credit (349) (378) (406) Total amount recognized $ 2,851 $ 3,213 $ 3,030 The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income: (In thousands) 2020 2019 2018 Components of net periodic benefit cost: Service cost $ — $ — $ — Interest cost 118 165 163 Prior service credit amortization (29) (29) (29) Prior service credit due to curtailments — — — Recognized actuarial (gain) loss 320 219 288 Net periodic benefit $ 409 $ 355 $ 422 Components of other amounts: Net regular actuarial (gain) loss $ 379 $ 373 $ (650) Recognized actuarial gain (loss) (320) (219) (288) Prior service credit amortization 29 29 29 Prior service credit due to curtailments (450) — — Prior service credit due to amendment — — — Total recognized in other comprehensive income $ (362) $ 183 $ (909) Total recognized in comprehensive income $ 47 $ 538 $ (487) The following table summarizes certain weighted average assumptions used to measure the plans’ obligation at the end of the year as well as net periodic benefit expense during the year: 2020 2019 2018 Weighted average assumptions used to determine benefit obligations: Discount rate 1.50 % 2.77 % 3.91 % Weighted average assumptions used to determine net periodic benefit cost: Discount rate 3.13 % 3.92 % 3.16 % The net actuarial loss and prior service credit that is expected to be amortized from accumulated other comprehensive income (loss) and into net periodic (benefit) expense during the year ended December 31, 2021 is $0.4 million. Future estimated benefit payments are expected to be approximately $0.3 million per annum during the period 2021 through 2030. 401(k) Plans The Bank also offers 2 retirement savings plans which are qualified under Section 401(k) of the Internal Revenue Code (401(k) Plan). Substantially all employees are eligible to participate, and participants can contribute up to 15% of their salary subject to certain limitations. The Bank does not make contributions to the 401(k) Plan and as such does not incur any direct compensation expense related to the 401(k) Plan. Long Term Incentive Plan Stock Options: The Bank has granted stock options in previous years to employees and directors. As of January 1, 2021, all options have vested and are exercisable at the option of the vested holders until the termination of each tranche after 10 years from the grant date or earlier if the employee or director has changed their employment status. The Bank does not currently have an active stock option plan that is available for issuing new options. A summary of the status of the Bank’s options as of December 31, 2020 follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding, December 31, 2019 2,051,020 $ 13.06 6.6 years Granted — — — Forfeited/ Expired (61,240) 13.94 — Exercised (11,220) 13.75 — Outstanding, December 31, 2020 1,978,560 13.03 4.2 years $ 1,885 Vested and Exercisable, December 31, 2020 1,809,932 $ 12.88 4.3 years $ 1,885 The range of exercise prices is $11.00 to $14.65 per share. Total options compensation costs to employees and directors for the years ended December 31, 2020, 2019, and 2018 was $0.7 million, $1.4 million, and $2.2 million in expense respectively, and is recorded within the Consolidated Statements of Income. All options have been fully expensed as of December 31, 2020. The fair value of all awards outstanding as of December 31, 2020 and 2019 was $8.4 million and $8.6 million, respectively. No cash was received for options exercised in 2020. Restricted Stock Units: The Amalgamated Bank 2019 Equity Incentive Plan (the “Equity Plan”) provides for the grant of stock-based incentive awards to officers, employees and directors of the Bank. The number of shares of common stock of the Bank available for stock-based awards under the Equity Plan is 1,250,000, of which 828,717 were available for issuance as of December 31, 2020. The Board of Directors determines awards under the Equity Plan. The Bank accounts for the Equity Plan under ASC No. 718. RSUs represent an obligation to deliver shares to an employee or director at a future date if certain vesting conditions are met. RSUs are subject to a time-based vesting schedule, the satisfaction of performance conditions, or the satisfaction of market conditions, and are settled in shares of the Bank’s common stock. RSUs do not provide dividend equivalent rights from the date of grant and do not provide voting rights. RSUs accrue dividends based on dividends paid on common shares, but those dividends are paid in cash upon satisfaction of the specified vesting requirements on the underlying RSU. During the year ended December 31, 2020, in accordance with the Equity Plan for employees, the Bank granted 238,716 RSUs to employees and reserved 276,057 shares for issuance upon vesting based upon the possibility of the Bank’s employees achieving the maximum share payout. Of the 238,716 RSUs granted to employees in 2020, 164,034 RSUs time-vest ratably over three years and were granted at a fair value of $13.78 based on the ending share price on the grant date. The Bank granted 74,682 performance-based RSUs which are more fully described below: • The Bank granted 38,321 performance-based RSUs at a fair value of $14.45 per share based on the ending share price on the grant date which vest subject to the achievement of the Bank’s corporate goals for the three-year period from December 31, 2019 to December 31, 2022. The corporate goal is based on the Bank achieving a target increase in Tangible Book Value, adjusted for certain factors. The minimum and maximum awards that are achievable are 0 and 57,482 shares, respectively. • The Bank granted 36,361 market-based RSUs at a fair value of $15.23 per share based on Monte Carlo simulations of possible future value, which vest subject to the Bank’s relative total shareholder return compared to a group of peer banks over a three-year period from March 9, 2020 to March 8, 2023. The minimum and maximum awards that are achievable are 0 and 54,542 shares, respectively. A summary of the status of the Bank’s employee RSUs as of December 31, 2020 follows: Shares Grant Date Fair Value Unvested, December 31, 2019 189,999 $ 17.81 Awarded 238,716 14.35 Forfeited/Expired (98,388) 17.67 Vested (39,690) 17.67 Unvested, December 31, 2020 290,637 $ 15.99 We have reserved 333,308 shares for payout, which is the maximum amount assuming the highest payout of performance and market based units and full completion of the service requirement. The shares expected to vest solely based on the full completion of the service requirement are 205,963. Compensation expense attributable to the employee RSUs was $1.2 million and $0.8 million for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, there was $3.1 million of total unrecognized compensation cost related to the non-vested RSUs granted to employees. This expense may increase or decrease depending on the expected number of performance-based shares to be issued. This expense is expected to be recognized ratably over 2.2 years. During the year ended December 31, 2020, in accordance with the Equity Plan for directors, the Bank granted 26,642 RSUs that vest after one year. The Bank recorded expense of $0.5 million and $0.2 million for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, there was $0.1 million of total unrecognized cost related to the non-vested RSUs granted to directors.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assumptions are developed based on prioritizing information within a fair value hierarchy that gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. A description of the disclosure hierarchy and the types of financial instruments recorded at fair value that management believes would generally qualify for each category are as follows: Level 1 - Valuations are based on quoted prices in active markets for identical assets or liabilities. Accordingly, valuation of these assets and liabilities does not entail a significant degree of judgment. Examples include most U.S. Government securities and exchange-traded equity securities. Level 2 - Valuations are based on either quoted prices in markets that are not considered to be active or significant inputs to the methodology that are observable, either directly or indirectly. Financial instruments in this level would generally include mortgage-related securities and other debt issued by GSEs, non-GSE mortgage-related securities, corporate debt, certain redeemable fund investments and certain trust preferred securities. Level 3 - Valuations are based on inputs to the methodology that are unobservable and significant to the fair value measurement. These inputs reflect management’s own judgments about the assumptions that market participants would use in pricing the assets and liabilities. The following summarizes those financial instruments measured at fair value in the consolidated statements of financial condition categorized by the relevant class of investment and level of the fair value hierarchy: December 31, 2020 (In thousands) Level 1 Level 2 Level 3 Total Available for sale securities: Mortgage-related: GSE residential certificates $ — $ 13,299 $ — $ 13,299 GSE CMOs — 366,421 — 366,421 GSE commercial certificates & CMO — 432,614 — 432,614 Non-GSE residential certificates — 33,384 — 33,384 Non-GSE commercial certificates — 44,968 — 44,968 Other debt: U.S. Treasury 203 — — 203 ABS — 597,546 — 597,546 Trust preferred — 13,773 — 13,773 Corporate — 37,654 — 37,654 Total assets carried at fair value $ 203 $ 1,539,659 $ — $ 1,539,862 December 31, 2019 (In thousands) Level 1 Level 2 Level 3 Total Available for sale securities: Mortgage-related: GSE residential certificates $ — $ 36,385 $ — $ 36,385 GSE CMOs — 282,434 — 282,434 Non-GSE residential certificates — 253,913 — 253,913 GSE commercial certificates — 59,008 — 59,008 Non-GSE commercial certificates — 46,874 — 46,874 Other debt: U.S. Treasury 199 — — 199 ABS — 523,777 — 523,777 Trust preferred — 13,897 — 13,897 Corporate — 8,283 — 8,283 Total assets carried at fair value $ 199 $ 1,224,571 $ — $ 1,224,770 During the years ended December 31, 2020 and 2019, there were no transfers of financial instruments between Level 1 and Level 2. There were no financial instruments measured at fair value on a recurring basis and categorized as Level 3 in the Consolidated Statement of Financial Condition during the years ended December 31, 2020 and 2019. The following tables summarize assets measured at fair value on a non-recurring basis: December 31, 2020 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Fair Value Measurements: Impaired loans $ 67,433 $ — $ — $ 67,433 $ 67,433 Other real estate owned 307 — — 303 303 $ 67,740 $ — $ — $ 67,736 $ 67,736 December 31, 2019 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Fair Value Measurements: Impaired loans $ 57,903 $ — $ — $ 57,903 $ 57,903 Other real estate owned 809 — — 977 977 $ 58,712 $ — $ — $ 58,880 $ 58,880 A description of the methods, factors and significant assumptions utilized in estimating the fair values for significant categories of financial instruments follows: • Securities – Investments in fixed income securities are generally valued based on evaluations provided by an independent pricing service. These evaluations represent an exit price or their opinion as to what a buyer would pay for a security, typically in an institutional round lot position, in a current sale. The pricing service utilizes evaluated pricing techniques that vary by asset class and incorporate available market information and, because many fixed income securities do not trade on a daily basis, applies available information through processes such as benchmark curves, benchmarking of available securities, sector groupings and matrix pricing. Model processes, such as option adjusted spread models, are used to value securities that have prepayment features. In those limited cases where pricing service evaluations are not available for a fixed income security, management will typically value those instruments using observable market inputs in a discounted cash flow analysis. Held to maturity securities, with the exception of PACE securities which are categorized as Level 3, are generally categorized as Level 2. • Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is determined using the price we expect to receive for the loans based on commitments received from third party investors. Loans held on our balance sheet greater than 90 days are evaluated to determine if a valuation allowance is required to adjust for a decline in fair value below the carrying amount, and then subject to quarterly evaluation going forward. Loans held for sale are generally categorized as Level 3. • Loans receivable - Loans are valued using a present value technique that incorporates management’s assumptions as to what a market participant would assume given the attributes of the loans. The observable U.S. Treasury yield curve is a significant input to the valuation. Assumptions, including prepayment speeds and credit spreads, are based on observable market data where possible or alternatively are based on terms currently offered on loans to borrowers of similar credit quality. Fair values for loans considered impaired are based on discounted cash flows using the loan’s initial effective interest rate or the fair value of the underlying collateral in the case of collateral dependent loans. The methods used to estimate the fair value of loans are extremely sensitive to the assumptions and estimates used. While management has attempted to use assumptions and estimates that best reflect the Bank’s loan portfolio and current market conditions, a greater degree of subjectivity is inherent in these values than in those determined in active markets. Loans would generally be categorized as Level 3. • Resell agreements - Resell agreements are carried at fair value, as these are short term agreements. All existing trades are done at the current rate for new trades, which historically has always been 1.25%, which is the same rate we bring in new trades, so there is no market value adjustment. The agreements are generally categorized as Level 3, as we have limited market information. • Deposits – Deposits without a defined maturity date are valued at the amount payable on demand. Certificates of deposit, which are categorized as Level 2, are valued using a present value technique that incorporates current rates offered by the Bank for certificates of comparable remaining maturity. • Borrowed funds – FHLBNY advances and repurchase agreements are valued using a present value technique that incorporates current rates offered by the FHLBNY for advances of comparable remaining maturity. FHLBNY advances and repurchase agreements are categorized as Level 2. • FHLBNY stock – FHLBNY stock is a non-marketable equity security categorized as Level 2 and reported at cost, which equals par value (the amount at which shares have been redeemed in the past). No significant observable market data is available for this security. • Other – The Bank holds or issues other financial instruments for which management considers the carrying value to approximate fair value. Such items include cash and cash equivalents, accrued interest receivable and payable. Many of these items are short term in nature with minimal risk characteristics. For those financial instruments that are not recorded at fair value in the consolidated statements of financial condition, but are measured at fair value for disclosure purposes, management follows the same fair value measurement principles and guidance as for instruments recorded at fair value. There are significant limitations in estimating the fair value of financial instruments for which an active market does not exist. Due to the degree of management judgment that is often required, such estimates tend to be subjective, sensitive to changes in assumptions and imprecise. Such estimates are made as of a point in time and are impacted by then-current observable market conditions; also such estimates do not give consideration to transaction costs or tax effects if estimated unrealized gains or losses were to become realized in the future. Because of inherent uncertainties of valuation, the estimated fair value may differ significantly from the value that would have been used had a ready market for the investment existed and the difference could be material. Lastly, consideration is not given to nonfinancial instruments, including various intangible assets, which could represent substantial value. Fair value estimates are not necessarily representative of the Bank’s total enterprise value. The following table summarizes the financial statement basis and estimated fair values for significant categories of financial instruments: December 31, 2020 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 38,769 $ 38,769 $ — $ — $ 38,769 Available for sale securities 1,513,409 203 1,539,659 — 1,539,862 Held to maturity securities 494,449 — 76,519 425,906 502,425 Loans held for sale 11,178 — — 11,178 11,178 Loans receivable, net 3,447,306 — — 3,566,742 3,566,742 FHLBNY stock (1) 3,934 — 3,934 3,934 Resell agreements 154,779 — 154,779 154,779 Accrued interest and dividends receivable 23,970 — 23,970 — 23,970 Financial liabilities: Deposits payable on demand 5,066,687 — 5,066,687 — 5,066,687 Time deposits 272,025 — 272,451 — 272,451 Borrowed funds — — — — — Accrued interest payable 386 — 386 — 386 (1) Prices not quoted in active markets but redeemable at par. December 31, 2019 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 122,538 $ 122,538 $ — $ — $ 122,538 Available for sale securities 1,224,770 199 1,224,571 — 1,224,770 Held to maturity securities 292,704 — 23,132 269,705 292,837 Loans held for sale 2,328 — — 2,328 2,328 Loans receivable, net 3,438,767 — — 3,474,296 3,474,296 FHLBNY stock (1) 7,039 — 7,039 — 7,039 Accrued interest and dividends receivable 19,088 — 19,088 — 19,088 Financial liabilities: Deposits payable on demand 4,247,427 — 4,247,427 — 4,247,427 Time deposits 393,555 — 394,385 — 394,385 Borrowed funds 75,000 — 75,000 — 75,000 Accrued interest payable 1,383 — 1,383 — 1,383 (1) Prices not quoted in active markets but redeemable at par.

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK	COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK Credit Commitments The Bank is party to various credit related financial instruments with off balance sheet risk. The Bank, in the normal course of business, issues such financial instruments in order to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. As of December 31, 2020 and 2019, the following financial instruments were outstanding whose contract amounts represent credit risk: Year Ended December 31, (In thousands) 2020 2019 Commitments to extend credit $ 455,541 $ 567,117 Standby letters of credit 17,910 15,169 Total $ 473,451 $ 582,286 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. These commitments have fixed expiration dates and other termination clauses and generally require the payment of nonrefundable fees. Since a portion of the commitments are expected to expire without being drawn upon, the contractual principal amounts do not necessarily represent future cash requirements. The Bank’s maximum exposure to credit risk is represented by the contractual amount of these instruments. These instruments represent ultimate exposure to credit risk only to the extent they are subsequently drawn upon by customers. Standby letters of credit are conditional lending commitments issued by the Bank to guarantee the financial performance of a customer to a third party. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan facilities to customers. The balance sheet carrying value of standby letters of credit approximates any nonrefundable fees received but not yet recorded as income. The Bank considers this carrying value, which is not material, to approximate the estimated fair value of these financial instruments. The Bank reserves for the credit risk inherent in off balance sheet credit commitments. This reserve, which is included in other liabilities, amounted to approximately $1.2 million and $1.3 million as of December 31, 2020 and 2019, respectively. Other Commitments and Contingencies The Bank is required to maintain a certain average level of funds on deposit with the Federal Reserve Bank of New York (“FRBNY”) to satisfy contractual clearing requirements. As of December 31, 2020, the Bank was required to maintain deposit reserves with the FRBNY in the amount of $9.1 million. This requirement is permitted to be reduced by the amount of available vault cash. Due to the Board of Governors of the Federal Reserve System’s decision to pay interest on required and excess reserves, the Bank has maintained a significant portion of its available cash on deposit with the FRBNY in the form of excess reserves. The entire balance on deposit with the FRBNY amounted to approximately $30.7 million and $114.8 million as of December 31, 2020 and 2019, respectively. Certain interest-bearing deposits in banks have been pledged by the Bank to secure borrowed funds and for other business purposes. The Bank had no such pledged cash deposits as of December 31, 2020 and 2019. In the ordinary course of business, there are various legal proceedings pending against the Bank. Based on the opinion of counsel, management believes that the aggregate liabilities, if any, arising from such actions would not have a material adverse effect on the consolidated financial position or results of operations of the Bank.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES The Bank as a lessee has operating leases primarily consisting of real estate arrangements where the Bank operates its headquarters, branches and business production offices. All leases identified as in scope are accounted for as operating leases as of December 31, 2020. These leases are typically long-term leases and generally are not complicated arrangements or structures. Several of the leases contain renewal options at a rate comparable to the fair market value based on comparable analysis to similar properties in the Bank’s geographies. Real estate operating leases are presented as a Right-of-use (“ROU”) asset and a related Operating lease liability on the Consolidated Statements of Financial Condition. The ROU asset represents the Bank’s right to use the underlying asset for the lease term and the lease liabilities represent the obligation to make lease payments arising from the lease. The ROU asset and related lease liability were recognized at commencement on the adoption date of January 1, 2019 and are primarily based on the present value of lease payments over the lease term. The Bank applied its incremental borrowing rate (“IBR”) as the discount rate to the remaining lease payments to derive a present value calculation for initial measurement of the lease liability. The IBR reflects the interest rate the Bank would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. Lease expense is recognized on a straight-line basis over the lease term. The following table summarizes our lease cost and other operating lease information: Year Ended December 31, 2020 2019 (In thousands) Operating lease cost $ 15,256 $ 10,572 Cash paid for amounts included in the measurement of Operating leases liability $ 12,358 $ 10,776 Weighted average remaining lease term on operating leases (in years) 5.7 6.5 Weighted average discount rate used for operating leases liability 3.27 % 3.25 % Note: Sublease income and variable income or expense considered immaterial Cash paid for rent expense for the year-ended December 31, 2018 was $10.8 million. The following table presents the remaining commitments for operating lease payments for the next five years and thereafter, as well as a reconciliation to the discounted Operating leases liability recorded in the Consolidated Statements of Financial Condition: (In thousands) Year Ending December 31, 2021 9,806 2022 9,931 2023 9,818 2024 9,828 2025 9,851 Thereafter 8,912 Total undiscounted operating lease payments 58,146 Less: present value adjustment 4,973 Total Operating leases liability $ 53,173

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS On May 18, 2018, the Bank closed on its acquisition of New Resource Bank ("NRB"), and NRB merged with and into the Bank. The Bank recorded goodwill of $12.9 million and a core deposit intangible of $9.1 million, which are not deductible for tax purposes. The Bank accounted for the acquisition under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the assets acquired and liabilities assumed were recorded at their respective acquisition date fair values, and identifiable intangible assets were recorded at fair value and are depicted on the Consolidated Statement of Cash Flows. Goodwill In accordance with GAAP, the Bank performs an annual test as of June 30 to identify potential impairment of goodwill, or more frequently if events or circumstances indicate a potential impairment may exist. If the carrying amount of the Bank, as a sole reporting unit, including goodwill, exceeds its fair value, an impairment loss is recognized in an amount equal to that excess up to the amount of the recorded goodwill. The fair value of the Bank was determined by using a combination of a market approach and an income approach under the framework established for measuring fair value under ASC 820. Under both approaches the estimated fair value of the Bank was in excess of the carrying value and the Bank, as a sole reporting unit, was not at risk of failing the quantitative analysis. The fair value is based upon market data as of June 30, 2020 and estimates and assumptions that the Bank believes are most appropriate for the analysis. As of December 31, 2020, there were no changes to the Bank's annual impairment test conclusion. At December 31, 2020 and December 31, 2019, the carrying amount of goodwill was $12.9 million. Intangible Assets The following table reflects the estimated amortization expense, comprised entirely by the Bank’s core deposit intangible asset, for the next five years and thereafter: (In thousands) 2021 $ 1,207 2022 1,047 2023 888 2024 730 2025 574 Thereafter 913 Total $ 5,359 Accumulated amortization of the core deposit intangible was $3.7 million as of December 31, 2020.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Tax Credit Investments The Bank makes investments in unconsolidated entities that construct, own and operate solar generation facilities. An unrelated third party is the managing member and has control over the significant activities of the VIE. The Bank generates a return through the receipt of tax credits allocated to the projects, as well as operational distributions. The primary risk of loss is generally mitigated by policies requiring that the project qualify for the expected tax credits prior to the Bank making its investment. Any loans to the VIE are secured. As of December 31, 2020, the Bank's maximum exposure to loss is $17.8 million. (In thousands) December 31, 2020 December 31, 2019 Unconsolidated Variable Interest Entities Tax credit investments included in equity investments $ 6,735 $ — Unfunded tax credit commitments included in other liabilities — — Loans and letters of credit commitments 11,097 — Funded portion of loans and letters of credit commitments 11,097 — Year Ended 2020 2019 (In thousands) Tax credits and other tax benefits recognized $ 23,993 —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On March 1, 2021 (the “Effective Date”), Amalgamated Financial Corp., a Delaware public benefit corporation (the “Company”) acquired all of the outstanding stock of Amalgamated Bank, a New York state-chartered bank (the “Bank”), in a statutory share exchange transaction (the “Reorganization”) effected under New York law and in accordance with the terms of a Plan of Acquisition dated September 4, 2020 (the “Agreement”). The Reorganization and the Agreement were approved by the Bank’s stockholders at a special meeting of the Bank’s stockholders held on January 12, 2021. Pursuant to the Reorganization, shares of the Bank’s Class A common stock were exchanged for shares of the Company’s common stock on a one-for-one basis. As a result, the Bank became the sole subsidiary of the Company, the Company became the holding company for the Bank and the stockholders of the Bank became stockholders of the Company. Prior to the Effective Date, the Company conducted no operations other than obtaining regulatory approval for the Reorganization. Accordingly, the consolidated financial statements, discussions of those financial statements, market data and all other information presented herein, are those of the Bank. On the Effective Date, each then-current outstanding option to purchase shares of Bank common stock (“Stock Options”) was converted into an option to purchase the same number of shares of Company common stock on the same terms and conditions as were in effect with respect to those outstanding Stock Options under the written agreements pertaining thereto. Additionally, on the Effective Date, the Company (i) assumed all the outstanding awards granted under the Bank’s 2019 Equity Incentive Plan, which was adopted by the Company and amended and restated to be the Amalgamated Financial Corp. 2021 Equity Incentive Plan, (ii) adopted and assumed the Bank’s Employee Stock Purchase Plan (now, the Amalgamated Financial Corp. Employee Stock Purchase Plan), and (iii) adopted and assumed the Bank’s Long Term Incentive Plan and Annual Incentive Plan.

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) Selected Consolidated Quarterly Financial Data (1) Selected Operating Data: 2020 Quarter Ended (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 48,631 $ 47,120 $ 47,283 $ 47,462 Interest expense 3,942 2,681 2,049 1,807 Net interest income 44,689 44,439 45,234 45,655 Provision (release) for loan losses 8,588 8,221 3,394 4,589 Net interest income after provision for loan losses 36,101 36,218 41,840 41,066 Non-interest income 9,118 8,671 12,776 10,040 Non-interest expense 32,270 31,068 37,877 32,670 Income before income taxes 12,949 13,821 16,739 18,436 Provision for income taxes 3,404 3,447 4,259 4,646 Net income $ 9,545 $ 10,374 $ 12,480 $ 13,790 Basic earnings per share $ 0.30 $ 0.33 $ 0.40 $ 0.44 Diluted earnings per share $ 0.30 $ 0.33 $ 0.40 $ 0.44 Selected Operating Data: 2019 Quarter Ended (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 45,774 $ 46,528 $ 46,697 $ 46,955 Interest expense 5,001 4,672 4,940 4,705 Net interest income 40,773 41,856 41,757 42,250 Provision (release) for loan losses 2,186 2,127 (558) 83 Net interest income after provision for loan losses 38,587 39,729 42,315 42,167 Non-interest income 7,417 6,349 7,659 7,776 Non-interest expense 31,448 31,002 31,886 33,490 Income before income taxes 14,556 15,076 18,088 16,453 Provision for income taxes 3,743 3,891 4,893 4,445 Net income (loss) $ 10,813 $ 11,185 $ 13,195 $ 12,008 Basic earnings per share $ 0.34 $ 0.35 $ 0.41 $ 0.38 Diluted earnings per share $ 0.33 $ 0.35 $ 0.41 $ 0.37

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting	The accounting and reporting policies of Amalgamated Bank (unless we state otherwise or the context otherwise requires, references in this report to “we,” “our,” “us,” the “Bank,” and “Amalgamated” refer to Amalgamated Bank) conform to accounting principles generally accepted in the United States of America (GAAP) and predominant practices within the banking industry. The Bank uses the accrual basis of accounting for financial statement purposes.
Consolidation	The accompanying consolidated financial statements include the accounts of the Bank and its majority-owned and wholly-owned subsidiaries. All significant inter-company transactions and balances are eliminated in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. In particular, estimates and assumptions are used in measuring the fair value of certain financial instruments, determining the appropriateness of the allowance for loan and lease losses (“allowance”), evaluating potential other-than-temporary securities impairment, assessing the ability to realize deferred tax assets, and the valuation of share-based payment awards. Estimates and assumptions are based on available information and judgment; therefore actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash	For purposes of reporting cash flows, cash, cash equivalents, and restricted cash include cash, due from banks, interest-bearing deposits in other banks and federal funds sold with original maturities of three months or less. The Bank had $5.0 million and $3.0 million of cash deposits in other banks in excess of the FDIC insurance limits as of December 31, 2020 and December 31, 2019, respectively. This exposure is monitored as part of the Bank’s counterparty credit review which is conducted at least annually. Additionally the Bank had $0.4 million and $0.4 million in restricted cash as of December 31, 2020 and December 31, 2019, respectively and is included in Total cash and cash equivalents on the Consolidated Statements of Financial Condition. The Bank’s restricted cash reflects funds held in other financial institutions to secure business operating rights or contractually obligated minimum account funding requirements.
Securities	Purchases of investments in debt securities are designated as either trading, available for sale or held to maturity depending on the intent and ability to hold the securities. The initial designation is made at the time of purchase. During the years ended December 31, 2020 and 2019, there were no transfers of securities between available for sale and held to maturity categories. Additionally, as of December 31, 2020 and December 31, 2019, the Bank had no equity securities or securities designated as trading. Securities available for sale are carried at fair value, with any net unrealized appreciation or depreciation in fair value reported net of taxes as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Debt securities held to maturity are carried at amortized cost provided management does not have the intent to sell these securities and does not anticipate that it will be necessary to sell these securities before the full recovery of principal and interest, which may be at maturity. The Bank reported its investments in "Property Assessed Clean Energy" ("PACE") assessments as held to maturity securities. Management conducts a periodic evaluation of securities available for sale and held to maturity to determine if the amortized cost basis of a security has been other-than-temporarily impaired (OTTI). The evaluation of other-than-temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties. If the amortized cost of an investment exceeds its fair value, management evaluates, among other factors, general market conditions, the duration and extent to which the fair value is less than amortized cost, the probability of a near-term recovery in value, whether management intends to sell the security and whether it is more likely than not that the Bank will be required to sell the security before full recovery of the investment or maturity. Management also considers specific adverse conditions related to the financial health, projected cash flow and business outlook for the investee, including industry and sector performance, operational and financing cash flow factors and rating agency actions. For debt investment securities deemed to be other-than-temporarily impaired, the investment is written down to fair value with the estimated credit loss charged to current earnings and the noncredit-related impairment loss charged to other comprehensive income. If market, industry and/or investee conditions deteriorate, the Bank may incur future impairments. Premiums (discounts) on debt securities are amortized (accreted) to income using the level yield method to the contractual maturity date adjusted for actual prepayment experience. Realized gains and losses on sale of securities are determined using the specific identification method and are reported in non-interest income.
Loans Held for Sale	Loans held for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to current earnings. Gains or losses resulting from sales of loans held for sale, net of unamortized deferred fees and costs, are recognized at the time of sale and are included in other non-interest income on the Consolidated Statements of Income.
Loans and Loan Interest Income Recognition	Loans are stated at the principal amount outstanding, net of charge-offs, deferred origination costs and fees and purchase premiums and discounts. Loan origination and commitment fees and certain direct and indirect costs incurred in connection with loan originations are deferred and amortized to income over the life of the related loans as an adjustment to yield. Premiums or discounts on purchased portfolios are amortized or accreted to income using the level yield method. Interest on loans is generally recognized on the accrual basis. Interest is not accrued on loans that are more than 90 days delinquent on payments, and any interest that was accrued but unpaid on such loans is reversed from interest income at that time, or when deemed to be uncollectible. Interest subsequently received on such loans is recorded as interest income or alternatively as a reduction in the amortized cost of the loan if there is significant doubt as to the collectability of the unpaid principal balance. Loans are returned to accrual status when principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is impaired when, based on current information and events, it is probable that the Bank will not be able to collect all amounts due, both principal and interest, according to the contractual terms. Individual loans which are deemed to be impaired are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or at the loan’s observable market price or the fair value of the collateral net of estimated selling costs if the loan is collateral dependent. Individual loan impairment evaluation is generally limited to multifamily, CRE, C&I, construction and certain restructured 1-4 family residential loans. Smaller balance loans including HELOCs, consumer and student loans, as well as non-restructured 1-4 family residential loans, are considered homogeneous. When assessing homogenous loans for impairment, the Bank considers regulatory guidance concerning the classification and management of retail credits. The aggregate amount of individually and collectively measured loan impairment is included as a component of the allowance. Loans are considered Troubled Debt Restructurings (TDRs) if the borrower is experiencing financial difficulty and is afforded a concession by the Bank, such as, but not limited to: (i) payment deferral; (ii) a reduction of the stated interest rate for the remaining contractual life of the loan; (iii) an extension of the loan’s original contractual term at a stated interest rate lower than the current market rate for a new loan with similar risk; (iv) capitalization of interest; or (v) forgiveness of principal or interest. Generally, TDRs are placed on non-accrual status (and reported as non-performing loans) until the loan qualifies for return to accrual status. A TDR loan is considered impaired. A loan extended or renewed at a stated interest rate equal to the market interest rate for new debt with similar risk is not considered to be a TDR. In accordance with the accounting guidance for business combinations, no allowance is brought forward on any of the loans we acquire. For purchased non-credit impaired loans, credit and interest rate discounts representing the principal losses expected over the life of the loan are a component of the initial fair value and the total combined discount is accreted to interest income over the life of the loan. Subsequent to the acquisition date, the method used to evaluate the sufficiency of the discount is similar to organic loans, and if necessary, additional reserves are recognized in the allowance.
Allowance for Loan Losses	The allowance for loan and lease losses (“allowance”) is a valuation allowance for probable incurred credit losses. The Bank monitors its entire loan portfolio on a regular basis and considers numerous factors including (i) end-of-period loan levels and portfolio composition, (ii) observable trends in non-performing loans, (iii) the Bank’s historical loan loss experience, (iv) known and inherent risks in the portfolio, (v) underwriting practices, (vi) adverse situations which may affect the borrower’s ability to repay, (vii) the estimated value and sufficiency of any underlying collateral, (viii) credit risk grading assessments, (ix) loan impairment, and (x) economic conditions. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Additions to the allowance are charged to expense, and realized losses, net of recoveries, are charged to the allowance. Based on the determination of management, the overall level of allowance is periodically adjusted to account for the inherent and specific risks within the entire portfolio. Based on review of the classified loans and the overall allowance levels as they relate to the entire loan portfolio at December 31, 2020, management believes the allowance is adequate. Generally, a loan is considered for charge-off when it is in default of either principal or interest after 90 days or more. In addition to delinquency criteria, other triggering events may include, but are not limited to, notice of bankruptcy by the borrower or guarantor, death of the borrower, and deficiency balance from the sale of collateral. Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, often including obtaining collateral at exercise of the commitment. An allowance is calculated and recorded in other liabilities within the Consolidated Statements of Financial Condition. While management uses available information to recognize losses on loans, future additions or reductions to the allowance may be necessary due to changes in one or more evaluation factors; management’s assumptions as to rates of default, loss or recovery, or management’s intent with regard to disposition. A shift in lending strategy may warrant a change in the allowance due to a changing credit risk profile. In addition, various regulatory agencies, as an integral part of the examination process, periodically review the Bank’s allowance. Such agencies may require the Bank to recognize additions to, or charge-offs against, the allowance based on their judgment about information available to them at the time of their examination.
Other Real Estate Owned	Other real estate owned (“OREO”) properties acquired through, or in lieu of, foreclosure are recorded initially at fair value less costs to sell. Any write-down of the recorded investment in the related loan is charged to the allowance prior to transfer. OREO assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest income. Costs relating to the development and improvement of other real estate owned are capitalized. Costs relating to holding other real estate owned, including real estate taxes, insurance and maintenance, are charged to expense as incurred.
Goodwill and Intangible Assets	Goodwill resulting from business combinations is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangible assets are not amortized, but tested for impairment at least annually, or more frequently if events and circumstances exist that indicate the carrying amount of the asset may be impaired. The Bank elected June 30 as the annual date for impairment testing. Other intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets are amortized on an accelerated method over their estimated useful lives of ten years.
Premises and Equipment	Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of furniture, fixtures, and equipment is computed by the straight-line method over the estimated useful lives of the related assets. Furniture and fixtures are generally depreciated over ten years. Equipment, computer hardware and computer software are normally depreciated over three
Leases	The Bank determines whether a contract is or contains a lease at inception. For leases with terms greater than twelve months under which the Bank is lessee, right-of-use ("ROU") assets and lease liabilities are recorded at the commencement date. Lease liabilities are initially recorded based on the present value of future lease payments over the lease term. ROU assets are initially recorded at the amount of the associated lease liabilities plus prepaid lease payments and initial direct costs, less any lease incentives received. The cost of short term leases is recognized on a straight line basis over the lease term. The lease term includes options to extend if the exercise of those options is reasonably certain and includes termination options if there is reasonable certainty the options will not be exercised. The Bank uses its incremental borrowing rate (“IBR”) as the discount rate to the remaining lease payments to derive a present value calculation for initial measurement of lease liabilities. The IBR reflects the interest rate the Bank would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. Leases are classified as financing or operating leases at commencement. All of the Bank's leases are classified as operating leases as of December 31, 2020. Operating lease cost is recognized in the Consolidated Statements of Income on a straight line basis over the lease terms. Variable lease costs are recognized in the period in which the obligation for those costs is incurred.
Bank-Owned Life Insurance	The Bank invests in bank-owned life insurance (“BOLI”). BOLI involves the purchase of life insurance policies by the Bank on a chosen group of employees. The Bank is the owner and beneficiary of the policies. The insurance and earnings thereon is used to offset a portion of future employee benefit costs. BOLI is carried at the cash surrender value of the underlying policies. Earnings from BOLI, as well as changes in cash surrender value, are recognized as non-interest income.
Advertising Costs	The Bank expenses advertising and promotion costs as incurred.
Income Taxes	There are two components of income tax expense: current and deferred. Current income tax expense (benefit) approximates cash to be paid (refunded) for income taxes for the applicable period. Deferred income tax expense (benefit) results from differences between assets and liabilities measured for financial reporting and for income-tax return purposes. The Bank records as a deferred tax asset on its Consolidated Statement of Financial Condition an amount equal to the tax credit and tax loss carry-forwards and tax deductions (tax benefits) that we believe will be available to us to offset or reduce the amounts of our income taxes in future periods. Under applicable federal and state income tax laws and regulations, such tax benefits will expire if not used within specified periods of time. Accordingly, the ability to fully utilize our deferred tax asset may depend on the amount of taxable income that we generate during those time periods. At least once each year, or more frequently, if warranted, we make estimates of future taxable income that we believe we are likely to generate during those future periods. If we conclude, on the basis of those estimates and the amount of the tax benefits available to us, that it is more likely than not that we will be able to fully utilize those tax benefits prior to their expiration, we recognize the deferred tax asset in full on our Consolidated Statement of Financial Condition. If, however, we conclude on the basis of those estimates and the amount of the tax benefits available to us that it has become more likely than not that we will be unable to utilize those tax benefits in full prior to their expiration, then we would establish (or increase any existing) a valuation allowance to reduce the deferred tax asset on our Consolidated Statement of Financial Condition to the amount which we believe we are more likely than not to be able to utilize. Such a reduction is implemented by recognizing a non-cash charge that would have the effect of increasing the provision, or reducing any benefit, for income taxes that we would otherwise have recorded in our Consolidated Statements of Income. The determination of whether and the extent to which we will be able to utilize our deferred tax asset involves management judgments and assumptions that are subject to period-to-period changes as a result of changes in tax laws, changes in the market, or economic conditions that could affect our operating results or variances between our actual operating results and our projected operating results, as well as other factors. When measuring the amount of current taxes to be paid (or refunded) management considers the merit of various tax treatments in the context of statutory, judicial and regulatory guidance. Management also considers results of recent tax audits and historical experience. While management considers the amount of income taxes payable (or receivable) to be appropriate based on information currently available, future additions or reductions to such amounts may be necessary due to unanticipated events or changes in circumstances. Management has not taken, and does not expect to take, any position in a tax return which it deems to be uncertain. The Bank recognizes interest and penalties related to income tax matters in income tax expense.
Post-Retirement Benefit Plans	The Bank sponsors several post-retirement benefit plans for current and former employees. Contributions to the trustee of a multi-employer defined benefit pension plan are recorded as expense in the period of contribution. The Bank made $6.3 million, $6.3 million and $6.4 million in pension plan contributions for the 2020, 2019 and 2018 plan years, respectively. Plan obligations and related expenses for other post retirement plans are calculated using actuarial methodologies. The measurement of such obligations and expenses requires management to make certain assumptions, in particular the discount rate, which is evaluated on an annual basis. Other factors include retirement patterns, mortality and turnover assumptions. The Bank uses a December 31 measurement date for its post retirement benefit plans. FASB ASC 715 30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires the Bank to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial condition and to recognize changes in that funded status in the year the changes occur through comprehensive income.
Comprehensive Income	Comprehensive income includes net income and all other changes in equity during a period, except those resulting from investments by owners and distributions to owners. Other comprehensive income includes income, expenses, gains and losses that under generally accepted accounting principles are included in comprehensive income but excluded from net income. Other comprehensive income (loss) and accumulated other comprehensive income (loss) are reported net of deferred income taxes. Accumulated other comprehensive income for the Bank includes unrealized holding gains or losses on available for sale securities, and actuarial gains or losses on the Bank’s pension plans. FASB ASC 715‑30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires employers to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year the changes occur through comprehensive income.
Stock-Based Compensation	Stock-based compensation is recorded in accordance with FASB ASC No. 718, “Accounting for Stock-Based Compensation” which requires the Bank to record compensation cost for stock options and restricted stock granted to employees in return for employee service. The cost is measured at the fair value of the options and restricted stock when granted, and this cost is expensed over the employee service period, which is normally the vesting period of the options and restricted stock. Forfeitures of options and restricted stock result in a retirement of the related award and a reversal of the cost previously incurred. The Bank's performance-based restricted stock units (“RSUs”) are subject to the achievement of the Bank's 2019 corporate goals.
Variable Interest Entities	The consolidated financial statements include the accounts of certain variable interest entities (“VIEs”). The Bank considers a voting rights entity to be a subsidiary and consolidates if the Bank has a controlling financial interest in the entity. VIEs are consolidated if the Bank has the power to direct the activities of the VIE that significantly impact financial performance and has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE (i.e., the Bank is the primary beneficiary). Investments in VIEs where the Bank is not the primary beneficiary of a VIE are accounted for using the equity method of accounting. The determination of whether the Bank is the primary beneficiary of a VIE is reassessed on an ongoing basis. The consolidation status may change as a result of these reassessments. These investments are included in Other Assets in the Bank’s Consolidated Statements of Financial Condition. The maximum potential exposure to losses relative to investments in VIEs is generally limited to the sum of the outstanding balance, future funding commitments and any related loans to the entity, both funded and unfunded. Loans to these entities are underwritten in substantially the same manner as other loans and are generally secured. Additional disclosures regarding VIEs are further described in Note 18, Variable Interest Entities.
Resell Agreements	The Bank enters into short-term agreements for the purchase of government guaranteed loans with simultaneous agreements to resell (resell agreements). The Bank obtains possession of collateral with a market value equal to or in excess of the principal amount loaned under resell agreements. As of December 31, 2020, the Bank had $154.8 million in resell agreements entered into at par, and earned $0.8 million in interest income for the year ended December 31, 2020. Interest income on resell agreements is reported on the "securities interest income" line of the Consolidated Statements of Income. There were no resell agreements in 2019.
Segment Information	Public companies are required to report certain financial information about significant revenue-producing segments of the business for which such information is available and utilized by the chief operating decision maker. Substantially all of our operations occur through the Bank and involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of its banking operation, which constitutes our only operating segment for financial reporting purposes. We do not consider our trust and investment management business as a separate segment. The Bank formed a Holding Company on March 1, 2021, which did not exist as of December 31, 2020.
Reclassifications	Certain reclassifications have been made to prior year amounts to conform to the current year presentation. The reclassifications had no impact to the Consolidated Statements of Income or the Consolidated Statements of Changes in Stockholders’ Equity.
Risks and Uncertainties	The COVID-19 pandemic continues to create extensive disruptions to the global economy and financial markets and to businesses and the lives of individuals throughout the world. In particular, the COVID-19 pandemic has severely restricted the level of economic activity in our markets. Federal and state governments have taken, and may continue to take, unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief to businesses and individuals impacted by the pandemic. Although in various locations certain activity restrictions have been relaxed and businesses and schools have reopened with some level of success, in many states and localities the number of individuals diagnosed with COVID-19 has increased significantly, which may cause a freezing or, in certain cases, a reversal of previously announced relaxation of activity restrictions and may prompt the need for additional aid and other forms of relief. The impact of the COVID-19 pandemic is fluid and continues to evolve, adversely affecting many of our clients. The unprecedented and rapid spread of COVID-19 and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, consumer spending, and other economic activities has resulted in less economic activity, lower equity market valuations and significant volatility and disruption in financial markets. In addition, due to the COVID-19 pandemic, market interest rates have declined significantly, with the 10-year Treasury bond falling below 1.00% on March 3, 2020, for the first time. In March 2020, the Federal Open Market Committee reduced the targeted federal funds interest rate range to 0% to 0.25% percent. These reductions in interest rates and the other effects of the COVID-19 pandemic have had, and are expected to continue to have, possibly materially, an adverse effect on our business, financial condition and results of operations. The ultimate extent of the impact of the COVID-19 pandemic on our business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including the effect of governmental and private sector initiatives, the effect of the recent rollout of vaccinations for the virus, whether such vaccinations will be effective against any resurgence of the virus, including any new strains, and the ability for customers and businesses to return to their pre-pandemic routine.
Recent Accounting Pronouncements	Accounting Standards Adopted in 2019 In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)”. The new lease accounting standard requires the recognition of a right of use asset and related lease liability by lessees for leases classified as operating leases under current GAAP. Topic 842, which replaces the current guidance under Topic 840, retains a distinction between finance leases and operating leases. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by lessee does not significantly change from current GAAP. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize right of use assets and lease liabilities. The standard became effective for annual reporting periods beginning after December 15, 2018. A modified retrospective transition approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. Transition accounting for leases that expired before the earliest comparative period presented is not required. The Bank elected the effective date transition method of applying the new leases standard at the beginning of the period of adoption on January 1, 2019. The standard provides several optional practical expedients in transition. The Bank elected the “package of practical expedients”, which permits the Bank not to reassess prior conclusions about lease identification, lease classification and initial direct costs and allows it to continue to account for leases that commenced prior to the adoption date as operating leases. The Bank analyzed all its significant leases to determine if a lease was in scope of the ASU and determined 15 facilities leases were in scope. Based on leases outstanding at December 31, 2018, the Bank recorded a $71.1 million Operating leases liability and a $55.8 million related Right-of-use asset upon commencement on January 1, 2019. The measurement of the Right-of-use asset included a $15.3 million reduction to account for accrued rent previously established under Topic 840. The Bank has presented its Right-of-use asset and related Operating leases liability on the Consolidated Statements of Financial Condition. Refer to Note 16 - Leases for further details. Accounting Standards Adopted in 2020 In June 2016, the FASB amended existing guidance for ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350)”, to simplify the subsequent measurement of goodwill. The amendment requires an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The amendments also eliminate the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments became effective for public business entities for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied prospectively. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments. As a result of the Bank’s acquisition of New Resource Bank (“NRB”) in the latter half of the second quarter of 2018, the Bank elected June 30, 2019 as the beginning date for annual impairment testing. The Bank adopted ASU 2017-04 during the second quarter of 2020 and performed its annual impairment test. The estimated fair value of the Bank was in excess of the carrying value and the Bank, as a sole reporting unit, was not at risk of failing the quantitative analysis. Adoption did not have an effect on the Bank’s operating results or financial condition. Refer to Note 17 - Goodwill and Intangible Assets for further details. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820)—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”, which improves the effectiveness of fair value measurement disclosures. The amendments modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement as follows: removes disclosure requirements for the amount and reasons for transfer between Level 1 and Level 2 assets and liabilities in the fair value hierarchy; modifies disclosure requirements for transfers into and out of Level 3 assets and liabilities in the fair value hierarchy; adds disclosure requirements for the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update became effective for all entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Adoption of ASU 2018-13 did not have a material effect on the Bank’s operating results or financial condition. Recently Issued, Not Yet Adopted Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model and provides for recording credit losses on available for sale debt securities through an allowance account. ASU 2016-13 also requires certain incremental disclosures. In October 2019, the FASB voted to extend the adoption date for entities eligible to be smaller reporting companies, public business entities (PBEs) that are not SEC filers, and entities that are not PBEs from January 1, 2020 to January 1, 2023. Based on the Bank’s election as an Emerging Growth Company under the Jumpstart Our Business Startups Act to use the extended transition period for complying with any new or revised financial accounting standards, the Bank currently anticipates a January 1, 2023 adoption date. In preparation, the Bank has performed work in assessing and enhancing its technology environment and related data needs and availability. Additionally, a Management Committee comprised of members from multiple departments has been established to monitor the Bank’s progress towards adoption. As adoption will require the implementation of significant changes to the existing credit loss estimation model and is dependent on the economic forecast, and given the length of time before our adoption date, evaluating the overall impact of the ASU on the Bank’s Consolidated Financial Statements is not yet determinable.
Fair Value of Financial Instruments	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assumptions are developed based on prioritizing information within a fair value hierarchy that gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. A description of the disclosure hierarchy and the types of financial instruments recorded at fair value that management believes would generally qualify for each category are as follows: Level 1 - Valuations are based on quoted prices in active markets for identical assets or liabilities. Accordingly, valuation of these assets and liabilities does not entail a significant degree of judgment. Examples include most U.S. Government securities and exchange-traded equity securities. Level 2 - Valuations are based on either quoted prices in markets that are not considered to be active or significant inputs to the methodology that are observable, either directly or indirectly. Financial instruments in this level would generally include mortgage-related securities and other debt issued by GSEs, non-GSE mortgage-related securities, corporate debt, certain redeemable fund investments and certain trust preferred securities. Level 3 - Valuations are based on inputs to the methodology that are unobservable and significant to the fair value measurement. These inputs reflect management’s own judgments about the assumptions that market participants would use in pricing the assets and liabilities. A description of the methods, factors and significant assumptions utilized in estimating the fair values for significant categories of financial instruments follows: • Securities – Investments in fixed income securities are generally valued based on evaluations provided by an independent pricing service. These evaluations represent an exit price or their opinion as to what a buyer would pay for a security, typically in an institutional round lot position, in a current sale. The pricing service utilizes evaluated pricing techniques that vary by asset class and incorporate available market information and, because many fixed income securities do not trade on a daily basis, applies available information through processes such as benchmark curves, benchmarking of available securities, sector groupings and matrix pricing. Model processes, such as option adjusted spread models, are used to value securities that have prepayment features. In those limited cases where pricing service evaluations are not available for a fixed income security, management will typically value those instruments using observable market inputs in a discounted cash flow analysis. Held to maturity securities, with the exception of PACE securities which are categorized as Level 3, are generally categorized as Level 2. • Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is determined using the price we expect to receive for the loans based on commitments received from third party investors. Loans held on our balance sheet greater than 90 days are evaluated to determine if a valuation allowance is required to adjust for a decline in fair value below the carrying amount, and then subject to quarterly evaluation going forward. Loans held for sale are generally categorized as Level 3. • Loans receivable - Loans are valued using a present value technique that incorporates management’s assumptions as to what a market participant would assume given the attributes of the loans. The observable U.S. Treasury yield curve is a significant input to the valuation. Assumptions, including prepayment speeds and credit spreads, are based on observable market data where possible or alternatively are based on terms currently offered on loans to borrowers of similar credit quality. Fair values for loans considered impaired are based on discounted cash flows using the loan’s initial effective interest rate or the fair value of the underlying collateral in the case of collateral dependent loans. The methods used to estimate the fair value of loans are extremely sensitive to the assumptions and estimates used. While management has attempted to use assumptions and estimates that best reflect the Bank’s loan portfolio and current market conditions, a greater degree of subjectivity is inherent in these values than in those determined in active markets. Loans would generally be categorized as Level 3. • Resell agreements - Resell agreements are carried at fair value, as these are short term agreements. All existing trades are done at the current rate for new trades, which historically has always been 1.25%, which is the same rate we bring in new trades, so there is no market value adjustment. The agreements are generally categorized as Level 3, as we have limited market information. • Deposits – Deposits without a defined maturity date are valued at the amount payable on demand. Certificates of deposit, which are categorized as Level 2, are valued using a present value technique that incorporates current rates offered by the Bank for certificates of comparable remaining maturity. • Borrowed funds – FHLBNY advances and repurchase agreements are valued using a present value technique that incorporates current rates offered by the FHLBNY for advances of comparable remaining maturity. FHLBNY advances and repurchase agreements are categorized as Level 2. • FHLBNY stock – FHLBNY stock is a non-marketable equity security categorized as Level 2 and reported at cost, which equals par value (the amount at which shares have been redeemed in the past). No significant observable market data is available for this security. • Other – The Bank holds or issues other financial instruments for which management considers the carrying value to approximate fair value. Such items include cash and cash equivalents, accrued interest receivable and payable. Many of these items are short term in nature with minimal risk characteristics. For those financial instruments that are not recorded at fair value in the consolidated statements of financial condition, but are measured at fair value for disclosure purposes, management follows the same fair value measurement principles and guidance as for instruments recorded at fair value. There are significant limitations in estimating the fair value of financial instruments for which an active market does not exist. Due to the degree of management judgment that is often required, such estimates tend to be subjective, sensitive to changes in assumptions and imprecise. Such estimates are made as of a point in time and are impacted by then-current observable market conditions; also such estimates do not give consideration to transaction costs or tax effects if estimated unrealized gains or losses were to become realized in the future. Because of inherent uncertainties of valuation, the estimated fair value may differ significantly from the value that would have been used had a ready market for the investment existed and the difference could be material. Lastly, consideration is not given to nonfinancial instruments, including various intangible assets, which could represent substantial value. Fair value estimates are not necessarily representative of the Bank’s total enterprise value.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule Other Comprehensive Income (Loss)	Other comprehensive income (loss) components and related income tax effects were as follows: Year Ended December 31, (In thousands) 2020 2019 2018 Change in total obligation for postretirement benefits and for prior service credit and for other benefits $ 362 $ (183) $ 909 Income tax effect (99) 57 (247) Net change in total obligation for postretirement benefits and prior service credit and for other benefits 263 (126) 662 Unrealized holding gains (losses) on available for sale securities $ 20,374 $ 21,309 $ (8,995) Reclassification adjustment for losses (gains) realized in income (1,604) (86) 241 Change in unrealized gains (losses) on available for sale securities 18,770 21,223 (8,754) Income tax effect (5,082) (5,882) 2,426 Net change in unrealized gains (losses) on available for sale securities 13,688 15,341 (6,328) Total $ 13,951 $ 15,215 $ (5,666)
Schedule of Accumulated Other Comprehensive Income (Loss)	The following is a summary of the accumulated other comprehensive income (loss) balances, net of income taxes: (In thousands) Balance as of January 1, 2020 Current Period Income Tax Effect Balance as of Unrealized gains (losses) on benefits plans $ (2,319) $ 362 $ (99) $ (2,056) Unrealized gains (losses) on available for sale securities 5,544 18,770 (5,082) 19,232 Total $ 3,225 $ 19,132 $ (5,181) $ 17,176 (In thousands) Balance as of January 1, 2019 Current Period Income Tax Effect Balance as of Unrealized gains (losses) on benefits plans $ (2,193) $ (183) $ 57 $ (2,319) Unrealized gains (losses) on available for sale securities (9,797) 21,223 (5,882) 5,544 Total $ (11,990) $ 21,040 $ (5,825) $ 3,225
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following represents the reclassifications out of accumulated other comprehensive income (loss): (In thousands) Year Ended December 31, Affected Line Item in the Consolidated Statements of Income 2020 2019 2018 Realized gains (losses) on sale of available for sale securities $ 1,605 $ 83 $ (249) Gain (loss) on sale of investment securities available for sale, net Recognized gains (losses) on OTTI securities (1) 3 8 Non-Interest Income - other Income tax expense (benefit) 438 24 (67) Income tax expense (benefit) Total reclassifications, net of income tax $ 1,166 $ 62 $ (174) Prior service credit on pension plans and other postretirement benefits $ 28 $ 29 $ 29 Compensation and employee benefits Income tax expense (benefit) (8) (8) (8) Income tax expense (benefit) Total reclassifications, net of income tax $ 20 $ 21 $ 21 Total reclassifications, net of income tax $ 1,186 $ 83 $ (153)

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Available for Sale Securities	The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2020 are as follows: December 31, 2020 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 12,977 $ 322 $ — $ 13,299 GSE CMOs 353,783 12,690 (52) 366,421 GSE commercial certificates & CMO 421,488 11,548 (422) 432,614 Non-GSE residential certificates 33,120 281 (17) 33,384 Non-GSE commercial certificates 45,179 112 (323) 44,968 866,547 24,953 (814) 890,686 Other debt: U.S. Treasury 200 3 — 203 ABS 595,062 4,356 (1,872) 597,546 Trust preferred 14,627 — (854) 13,773 Corporate 36,973 683 (2) 37,654 Other — — — — 646,862 5,042 (2,728) 649,176 Total available for sale $ 1,513,409 $ 29,995 $ (3,542) $ 1,539,862 Held to maturity: Mortgage-related: GSE residential certificates $ 611 $ 38 $ — $ 649 Non GSE commercial certificates 212 15 — 227 823 53 — 876 Other debt: PACE Assessments 421,036 4,870 — 425,906 Municipal 67,490 3,019 — 70,509 Other 5,100 34 — 5,134 493,626 7,923 — 501,549 Total held to maturity $ 494,449 $ 7,976 $ — $ 502,425 The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2019 are as follows: December 31, 2019 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 36,639 $ 97 $ (351) $ 36,385 GSE CMOs 277,512 5,350 (428) 282,434 GSE commercial certificates & CMO 250,357 4,003 (447) 253,913 Non-GSE residential certificates 58,643 459 (94) 59,008 Non-GSE commercial certificates 46,868 49 (43) 46,874 670,019 9,958 (1,363) 678,614 Other debt: U.S. Treasury 199 — — 199 ABS 524,289 1,634 (2,146) 523,777 Trust preferred 14,623 — (726) 13,897 Corporate 7,957 326 — 8,283 Other — — — — 547,068 1,960 (2,872) 546,156 Total available for sale $ 1,217,087 $ 11,918 $ (4,235) $ 1,224,770 Held to maturity: Mortgage-related: GSE residential certificates $ 635 $ 23 $ — $ 658 Non GSE commercial certificates 270 19 — 289 905 42 — 947 Other debt: PACE Assessments 263,805 810 — 264,615 Municipal 22,894 598 (1,307) 22,185 Other 5,100 — (10) 5,090 291,799 1,408 (1,317) 291,890 Total held to maturity $ 292,704 $ 1,450 $ (1,317) $ 292,837
Schedule of Amortized Cost and Fair Value of Held to Maturity Securities	The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2020 are as follows: December 31, 2020 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 12,977 $ 322 $ — $ 13,299 GSE CMOs 353,783 12,690 (52) 366,421 GSE commercial certificates & CMO 421,488 11,548 (422) 432,614 Non-GSE residential certificates 33,120 281 (17) 33,384 Non-GSE commercial certificates 45,179 112 (323) 44,968 866,547 24,953 (814) 890,686 Other debt: U.S. Treasury 200 3 — 203 ABS 595,062 4,356 (1,872) 597,546 Trust preferred 14,627 — (854) 13,773 Corporate 36,973 683 (2) 37,654 Other — — — — 646,862 5,042 (2,728) 649,176 Total available for sale $ 1,513,409 $ 29,995 $ (3,542) $ 1,539,862 Held to maturity: Mortgage-related: GSE residential certificates $ 611 $ 38 $ — $ 649 Non GSE commercial certificates 212 15 — 227 823 53 — 876 Other debt: PACE Assessments 421,036 4,870 — 425,906 Municipal 67,490 3,019 — 70,509 Other 5,100 34 — 5,134 493,626 7,923 — 501,549 Total held to maturity $ 494,449 $ 7,976 $ — $ 502,425 The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2019 are as follows: December 31, 2019 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Mortgage-related: GSE residential certificates $ 36,639 $ 97 $ (351) $ 36,385 GSE CMOs 277,512 5,350 (428) 282,434 GSE commercial certificates & CMO 250,357 4,003 (447) 253,913 Non-GSE residential certificates 58,643 459 (94) 59,008 Non-GSE commercial certificates 46,868 49 (43) 46,874 670,019 9,958 (1,363) 678,614 Other debt: U.S. Treasury 199 — — 199 ABS 524,289 1,634 (2,146) 523,777 Trust preferred 14,623 — (726) 13,897 Corporate 7,957 326 — 8,283 Other — — — — 547,068 1,960 (2,872) 546,156 Total available for sale $ 1,217,087 $ 11,918 $ (4,235) $ 1,224,770 Held to maturity: Mortgage-related: GSE residential certificates $ 635 $ 23 $ — $ 658 Non GSE commercial certificates 270 19 — 289 905 42 — 947 Other debt: PACE Assessments 263,805 810 — 264,615 Municipal 22,894 598 (1,307) 22,185 Other 5,100 — (10) 5,090 291,799 1,408 (1,317) 291,890 Total held to maturity $ 292,704 $ 1,450 $ (1,317) $ 292,837
Schedule of Investments by Contractual Maturity	The following summarizes the amortized cost and fair value of debt securities available for sale and held to maturity, exclusive of mortgage-backed securities, by their contractual maturity as of December 31, 2020. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty. Available for Sale Held to Maturity (In thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ — $ — $ 2,000 $ 2,001 Due after one year through five years 21,063 21,403 3,100 3,133 Due after five years through ten years 231,427 230,416 10,152 10,207 Due after ten years 394,372 397,357 478,374 486,208 $ 646,862 $ 649,176 $ 493,626 $ 501,549
Schedule of Proceeds Received and Gains (Losses) on Sale of Available for Sale Securities	Proceeds received and gains and losses realized on sales of securities available for sale are summarized below: Year Ended December 31, (In thousands) 2020 2019 2018 Proceeds $ 94,698 $ 245,260 $ 125,390 Realized gains $ 2,111 $ 1,912 $ 403 Realized losses (506) (1,829) (652) Net realized gains (losses) $ 1,605 $ 83 $ (249)
Schedule of Unrealized Losses on Available for Sale Securities	The following summarizes the fair value and unrealized losses for those available for sale securities as of December 31, 2020 and 2019, segregated between securities that have been in an unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer at the respective dates: December 31, 2020 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-related: GSE CMOs $ 31,106 $ (35) $ 12,910 $ (17) $ 44,016 $ (52) GSE commercial certificates & CMOs 116,667 (287) 75,126 (135) 191,793 (422) Non-GSE residential certificates 2,138 (9) 3,077 (8) 5,215 (17) Non-GSE commercial certificates 47 — 29,207 (323) 29,254 (323) Other debt: ABS 3,010 (1) 298,410 (1,871) 301,420 (1,872) Trust preferred — — 13,773 (854) 13,773 (854) Corporate 6,998 (2) — — 6,998 (2) $ 159,966 $ (334) $ 432,503 $ (3,208) $ 592,469 $ (3,542) December 31, 2019 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Mortgage-related: GSE residential certificates $ 4,849 $ (11) $ 18,620 $ (340) $ 23,469 $ (351) GSE CMOs 43,794 (118) 23,995 (310) 67,789 (428) GSE commercial certificates 59,615 (428) 14,001 (19) 73,616 (447) Non-GSE residential certificates 2,836 (11) 13,537 (83) 16,373 (94) Non-GSE commercial certificates 19,276 (25) 7,048 (18) 26,324 (43) Other debt: ABS 95,095 (218) 191,650 (1,928) 286,745 (2,146) Trust preferred — — 13,897 (726) 13,897 (726) $ 225,465 $ (811) $ 282,748 $ (3,424) $ 508,213 $ (4,235)

LOANS RECEIVABLE, NET (Tables)

LOANS RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Loans Receivable	Loans receivable are summarized as follows: (In thousands) December 31, December 31, Commercial and industrial $ 677,192 $ 474,342 Multifamily 947,177 976,380 Commercial real estate 372,736 421,947 Construction and land development 56,087 62,271 Total commercial portfolio 2,053,192 1,934,940 Residential real estate lending 1,238,697 1,366,473 Consumer and other 190,676 163,077 Total retail portfolio 1,429,373 1,529,550 3,482,565 3,464,490 Net deferred loan origination costs (fees) 6,330 8,124 3,488,895 3,472,614 Allowance for loan losses (41,589) (33,847) $ 3,447,306 $ 3,438,767
Schedule of Quality of Bank's Loans	The following table presents information regarding the quality of the Bank’s loans as of December 31, 2020: (In thousands) 30-89 Days Non- 90 Days or Total Past Current Current Total Loans Commercial and industrial $ — $ 12,444 $ 1,404 $ 13,848 $ — $ 663,344 $ 677,192 Multifamily 3,590 9,575 — 13,165 — 934,012 947,177 Commercial real estate 10,574 3,433 — 14,007 — 358,729 372,736 Construction and land development 9,974 11,184 — 21,158 — 34,929 56,087 Total commercial portfolio 24,138 36,636 1,404 62,178 — 1,991,014 2,053,192 Residential real estate lending 19,526 23,280 — 42,806 376 1,195,515 1,238,697 Consumer and other 1,015 632 — 1,647 — 189,029 190,676 Total retail portfolio 20,541 23,912 — 44,453 376 1,384,544 1,429,373 $ 44,679 $ 60,548 $ 1,404 $ 106,631 $ 376 $ 3,375,558 $ 3,482,565 The following table presents information regarding the quality of the Bank’s loans as of December 31, 2019: (In thousands) 30-89 Days Non- 90 Days or Total Past Current Current Total Loans Commercial and industrial $ 3,970 $ 781 $ 22 $ 4,773 $ 14,783 $ 454,786 $ 474,342 Multifamily — — — — — 976,380 976,380 Commercial real estate 1,020 3,693 — 4,713 — 417,234 421,947 Construction and land development 2,635 3,652 — 6,287 — 55,984 62,271 Total commercial portfolio 7,625 8,126 22 15,773 14,783 1,904,384 1,934,940 Residential real estate lending 17,817 7,384 424 25,625 390 1,340,458 1,366,473 Consumer and other 1,782 328 — 2,110 — 160,967 163,077 Total retail portfolio 19,599 7,712 424 27,735 390 1,501,425 1,529,550 $ 27,224 $ 15,838 $ 446 $ 43,508 $ 15,173 $ 3,405,809 $ 3,464,490
Schedule of COVID-19 Related Deferral Loans and Loans by Credit Quality Indicator	The following table presents information regarding the Bank’s COVID-19 related loan deferrals as of December 31, 2020: Portfolio Balance Outstanding Balance in Deferral Balance in Process of Deferral Total Deferred Loans Total Deferrals as % of Portfolio (In thousands, rounded) Commercial and industrial $ 677,000 $ 4,000 $ — $ 4,000 0.6% Multifamily 947,000 15,000 — 15,000 1.6% Commercial real estate, construction and land development 429,000 2,000 — 2,000 0.5% Total commercial portfolio 2,053,000 21,000 — 21,000 1.0% Residential real estate lending 1,239,000 18,000 — 18,000 1.5% Consumer and other 191,000 2,000 — 2,000 1.0% Total retail portfolio 1,430,000 20,000 — 20,000 1.4% Totals $ 3,483,000 $ 41,000 $ — $ 41,000 1.2% The following tables summarize the Bank’s loan portfolio by credit quality indicator as of December 31, 2020: (In thousands) Pass Special Mention Substandard Doubtful Total Commercial and industrial $ 627,553 $ 16,407 $ 32,770 $ 462 $ 677,192 Multifamily 775,605 138,090 33,482 — 947,177 Commercial real estate 276,712 41,420 54,604 — 372,736 Construction and land development 28,967 15,936 11,184 — 56,087 Residential real estate lending 1,215,417 — 23,280 — 1,238,697 Consumer and other 190,044 — 632 — 190,676 Total loans $ 3,114,298 $ 211,853 $ 155,952 $ 462 $ 3,482,565 The following tables summarize the Bank’s loan portfolio by credit quality indicator as of December 31, 2019: (In thousands) Pass Special Mention Substandard Doubtful Total Commercial and industrial $ 427,279 $ 14,445 $ 32,151 $ 467 $ 474,342 Multifamily $ 976,380 $ — $ — $ — $ 976,380 Commercial real estate $ 418,254 $ — $ 3,693 $ — $ 421,947 Construction and land development $ 58,619 $ — $ 3,652 $ — $ 62,271 Residential real estate lending $ 1,359,089 $ — $ 7,384 $ — $ 1,366,473 Consumer and other $ 162,749 $ — $ 328 $ — $ 163,077 Total loans $ 3,402,370 $ 14,445 $ 47,208 $ 467 $ 3,464,490
Schedule of Troubled Debt Restructurings	The following table presents information regarding the Bank’s TDRs as of December 31, 2020 and December 31, 2019: December 31, 2020 December 31, 2019 (In thousands) Accruing Non- Total Accruing Non- Total Commercial and industrial $ 1,648 $ 12,116 $ 13,764 $ 8,984 $ 14,783 $ 23,767 Commercial real estate — 3,433 3,433 5,114 3,693 8,807 Construction and land development — 2,682 2,682 — 3,652 3,652 Residential real estate lending 17,905 2,654 20,559 20,269 2,891 23,160 $ 19,553 $ 20,885 $ 40,438 $ 34,367 $ 25,019 $ 59,386 The financial effects of TDRs granted for the twelve months ended December 31, 2020 are as: Weighted Average Interest Rate (In thousands) Number Recorded Pre-Modification Post-Modification Charge-off Commercial and industrial 4 $ 2,109 5.76 % 5.76 % $ — Commercial real estate — — — % — % — Construction and land development — — — % — % — Residential real estate lending 3 992 5.92 % 3.96 % 18 7 $ 3,101 5.81 % 5.18 % $ 18 The financial effects of TDRs granted for the twelve months ended December 31, 2019 are as follows: Weighted Average Interest Rate (In thousands) Number Recorded Pre-Modification Post-Modification Charge-off Commercial and industrial 3 $ 22,131 5.86 % 5.86 % $ — Commercial real estate 1 3,693 8.54 % 6.54 % — Construction and land development 1 3,652 6.50 % 8.00 % — Residential real estate lending 1 221 6.00 % 4.50 % — 6 $ 29,697 6.27 % 6.20 % $ —
Schedule of Method for Evaluating Impairment and Allowance for Credit Loss Activity	The following table provides information regarding the methods used to evaluate the Bank’s loan portfolio for impairment by portfolio, and the Bank’s allowance by portfolio based upon the method of evaluating loan impairment as of December 31, 2020: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Loans: Individually evaluated for impairment $ 14,706 $ 9,575 $ 3,433 $ 11,184 $ 41,579 $ — $ 80,477 Collectively evaluated for impairment 662,486 937,602 369,303 44,903 $ 1,197,118 $ 190,676 $ 3,402,088 Total loans $ 677,192 $ 947,177 $ 372,736 $ 56,087 $ 1,238,697 $ 190,676 $ 3,482,565 Allowance for loan losses: Individually evaluated for impairment $ 3,118 $ 1,933 $ — $ — $ 1,187 $ — $ 6,238 Collectively evaluated for impairment 5,947 8,391 6,213 2,077 $ 11,143 $ 1,580 $ 35,351 Total allowance for loan losses $ 9,065 $ 10,324 $ 6,213 $ 2,077 $ 12,330 $ 1,580 $ 41,589 The following table provides information regarding the methods used to evaluate the Bank’s loan portfolio for impairment by portfolio, and the Bank’s allowance by portfolio based upon the method of evaluating loan impairment as of as of December 31, 2019: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Loans: Individually evaluated for impairment $ 24,870 $ — $ 8,807 $ 3,652 $ 28,043 $ — $ 65,372 Collectively evaluated for impairment 449,472 976,380 413,140 58,619 $ 1,338,430 $ 163,077 $ 3,399,118 Total loans $ 474,342 $ 976,380 $ 421,947 $ 62,271 $ 1,366,473 $ 163,077 $ 3,464,490 Allowance for loan losses: Individually evaluated for impairment $ 6,144 $ — $ — $ — $ 1,325 $ — $ 7,469 Collectively evaluated for impairment 4,982 5,210 2,492 808 $ 12,824 $ 62 $ 26,378 Total allowance for loan losses $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 The activities in the allowance by portfolio for the year ended December 31, 2020 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 Provision for (recovery of) loan losses 9,175 5,114 7,508 2,238 (2,302) 3,058 24,791 Charge-offs (11,293) — (3,787) (970) (492) (1,691) (18,233) Recoveries 57 — — 1 975 151 1,184 Ending Balance $ 9,065 $ 10,324 $ 6,213 $ 2,077 $ 12,330 $ 1,580 $ 41,589 The activities in the allowance by portfolio for the year ended December 31, 2019 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 16,046 $ 4,736 $ 2,573 $ 1,089 $ 11,987 $ 764 $ 37,195 Provision for (recovery of) loan losses 2,620 474 (81) (281) 1,251 (146) 3,837 Charge-offs (9,236) — — — (683) (710) (10,629) Recoveries 1,696 — — — 1,594 154 3,444 Ending Balance $ 11,126 $ 5,210 $ 2,492 $ 808 $ 14,149 $ 62 $ 33,847 The activities in the allowance by portfolio for the year ended December 31, 2018 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer and Other Total Allowance for loan losses: Beginning balance $ 15,455 $ 5,280 $ 3,377 $ 188 $ 11,265 $ 400 $ 35,965 Provision for (recovery of) loan losses 570 (544) (804) 901 (950) 567 $ (260) Charge-offs (33) — — — (791) (378) $ (1,202) Recoveries 54 — — — 2,463 175 $ 2,692 Ending Balance $ 16,046 $ 4,736 $ 2,573 $ 1,089 $ 11,987 $ 764 $ 37,195
Schedule of Additional Information for Individually Impaired Loans and Allowances	The following is additional information regarding the Bank’s individually impaired loans and the allowance related to such loans as of December 31, 2020 and 2019: December 31, 2020 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 20,824 $ 12,660 $ 20,898 $ — Construction and land development 11,184 7,418 12,204 — Commercial real estate 3,433 6,120 4,023 — 35,441 26,198 37,125 — Loans with a related allowance: Residential real estate lending 20,755 22,151 24,680 1,187 Multifamily 9,575 4,788 9,589 1,933 Commercial and industrial 14,706 19,788 27,210 3,118 45,036 46,727 61,479 6,238 Total individually impaired loans: Residential real estate lending 41,579 34,811 45,578 1,187 Multifamily 9,575 4,788 9,589 1,933 Construction and land development 11,184 7,418 12,204 — Commercial real estate 3,433 6,120 4,023 — Commercial and industrial 14,706 19,788 27,210 3,118 $ 80,477 $ 72,925 $ 98,604 $ 6,238 December 31, 2019 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 4,496 $ 4,397 $ 4,558 $ — Construction and land development 3,652 3,652 3,702 — Commercial real estate 8,807 11,921 9,137 — 16,955 19,970 17,397 — Loans with a related allowance: Residential real estate lending 23,547 25,206 27,288 1,325 Commercial and industrial 24,870 18,512 29,534 6,144 48,417 43,718 56,822 7,469 Total individually impaired loans: Residential real estate lending 28,043 29,603 31,846 1,325 Construction and land development 3,652 3,652 3,702 — Commercial real estate 8,807 11,921 9,137 — Commercial and industrial 24,870 18,512 29,534 6,144 $ 65,372 $ 63,688 $ 74,219 $ 7,469 December 31, 2018 (In thousands) Recorded Average Unpaid Related Loans without a related allowance: Residential real estate lending $ 4,297 $ 4,203 $ 5,930 $ — 4,297 4,203 5,930 — Loans with a related allowance: Residential real estate lending 26,864 28,398 30,029 1,487 Commercial real estate mortgages 15,035 10,468 15,096 — Commercial and industrial 12,153 12,361 16,041 8,067 54,052 51,227 61,166 9,554 Total individually impaired loans: Residential real estate lending 31,161 32,601 35,959 1,487 Commercial real estate 15,035 10,468 15,096 — Commercial and industrial 12,153 12,361 16,041 8,067 $ 58,349 $ 55,430 $ 67,096 $ 9,554

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	Premises and equipment are summarized as follows: December 31, 2020 2019 (In thousands) Buildings, premises and improvements $ 33,280 $ 40,325 Furniture, fixtures and equipment 5,856 7,207 Projects in process 550 207 39,686 47,739 Accumulated depreciation and amortization (26,709) (29,961) $ 12,977 $ 17,778

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2020
Statistical Disclosure for Banks [Abstract]
Schedule of Deposits	Deposits are summarized as follows: December 31, 2020 2019 (In thousands) Amount Weighted Average Rate Amount Weighted Average Rate Non-interest bearing demand deposit accounts $ 2,603,274 0.00 % $ 2,179,247 0.00 % NOW accounts 205,653 0.06 % 230,919 0.38 % Money market deposit accounts 1,914,391 0.13 % 1,508,674 0.37 % Savings accounts 343,368 0.12 % 328,587 0.19 % Time deposits 272,025 0.86 % 393,555 1.29 % $ 5,338,711 0.10 % $ 4,640,982 0.26 %
Schedule of Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2020 are as follows: (In thousands) 2021 $ 231,239 2022 24,872 2023 7,364 2024 5,014 2025 2,811 Thereafter 725 $ 272,025
Schedule of Interest Expense on Borrowed Funds	Interest expense on borrowed funds is summarized as follows: (In thousands) Year Ended December 31, 2020 2019 2018 FHLBNY advances $ 27 $ 4,835 $ 4,646 Fed Funds Purchased — 21 — $ 27 $ 4,856 $ 4,646

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2020
Federal Home Loan Banks [Abstract]
Schedule of Borrowed Funds	Borrowed funds are summarized as follows: (In thousands) December 31, 2020 2019 Amount Weighted Average Rate Amount Weighted Average Rate FHLB advances $ — — % $ 75,000 1.84 %
Schedule of Interest Expense on Borrowed Funds	Interest expense on borrowed funds is summarized as follows: (In thousands) Year Ended December 31, 2020 2019 2018 FHLBNY advances $ 27 $ 4,835 $ 4,646 Fed Funds Purchased — 21 — $ 27 $ 4,856 $ 4,646

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
Regulatory Capital [Abstract]
Schedule of Bank's Capital and Ratio Amounts	The Bank’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy Purposes (1) To Be Considered (In thousands) Amount Ratio Amount Ratio Amount Ratio December 31, 2020 Total capital to risk weighted assets $ 534,684 14.25 % $ 300,199 8.00 % $ 375,249 10.00 % Tier I capital to risk weighted assets 491,913 13.11 % 225,149 6.00 % 300,199 8.00 % Tier I capital to average assets 491,913 7.97 % 246,904 4.00 % 308,630 5.00 % Common equity tier 1 to risk weighted assets 491,913 13.11 % 168,862 4.50 % 243,912 6.50 % December 31, 2019 Total capital to risk weighted assets $ 490,831 14.01 % $ 280,265 8.00 % $ 350,331 10.00 % Tier I capital to risk weighted assets 455,668 13.01 % 210,199 6.00 % 280,265 8.00 % Tier I capital to average assets 455,668 8.90 % 204,852 4.00 % 256,065 5.00 % Common equity tier 1 to risk weighted assets 455,668 13.01 % 157,649 4.50 % 227,715 6.50 % (1) Amounts are shown exclusive of the applicable capital conservation buffer of 2.50%.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Provision (Benefit) for Income Taxes	The components of the provision (benefit) for income taxes for the years ended December 31, 2020 and 2019 are as follows: Year Ended December 31, (In thousands) 2020 2019 2018 Current: Federal $ 15,010 $ 10,656 $ 351 State and local 1,152 1,287 655 16,162 11,943 1,006 Deferred: Federal (3,497) 1,880 8,775 State and local 3,090 3,149 (4,115) (407) 5,029 4,660 Total income tax provision $ 15,755 $ 16,972 $ 5,666
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the expected income tax expense at the statutory federal income tax rate of 21% to the Bank’s actual income tax benefit and effective tax rate for the years ended December 31, 2020 and 2019 is as follows: Year Ended December 31, 2020 2019 2018 (In thousands) Amount % Amount % Amount % Tax expense at federal income tax rate $ 13,008 21.00 % $ 13,476 21.00 % $ 10,567 21.00 % Increase (decrease) resulting from: Tax exempt income (862) -1.39 % (423) -0.66 % (351) -0.70 % Change in DTA rate 333 0.54 % (186) -0.29 % 89 0.18 % State tax, net of federal benefit 3,551 5.73 % 4,030 6.28 % 2,905 5.77 % Stock options windfall (3) -0.01 % (68) -0.11 % — 0.00 % Incremental DTA realization / valuation allowance release — 0.00 % — 0.00 % (7,632) -15.17 % Other (272) -0.44 % 143 0.23 % 88 0.17 % Total $ 15,755 25.43 % $ 16,972 26.45 % $ 5,666 11.25 %
Schedule of Net Deferred Tax Assets and Liabilities	The significant components of the net deferred tax assets and liabilities as of December 31, 2020 and 2019, are as follows: December 31, (In thousands) 2020 2019 Deferred tax assets: Excess tax basis over carrying value of assets: Allowance for loan losses $ 16,644 $ 11,157 Nonaccrual interest income 689 499 Postretirement and other employee benefits 436 464 Depreciation and amortization 1,657 1,413 Operating leases 14,515 17,373 Federal, state and local net operating loss carryforward 9,270 12,756 Other, net 2,723 1,160 Gross deferred tax asset 45,934 44,822 Deferred tax liabilities: Available for sale securities carried at fair value for financial statement purposes (7,221) (2,139) Purchase accounting adjustments, net (966) (904) Operating leases (9,855) (13,381) Gross deferred tax liabilities (18,042) (16,424) Deferred tax asset, net $ 27,892 $ 28,398

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Factors Used in Earnings Per Share Calculation	The factors used in the earnings per share computation follow: (In thousands, except per share amounts) Year Ended December 31, 2020 2019 2018 Net income attributable to Amalgamated Bank $ 46,188 $ 47,202 $ 44,654 Dividends paid on preferred stock (22) (22) (22) Income attributable to common stock $ 46,166 $ 47,180 $ 44,632 Weighted average common shares outstanding, basic 31,133 31,733 30,369 Basic earnings per common share $ 1.48 $ 1.49 $ 1.47 Income attributable to common stock $ 46,166 $ 47,180 $ 44,632 Weighted average common shares outstanding, basic 31,133 31,733 30,369 Incremental shares from assumed conversion of options and RSUs 96 472 264 Weighted average common shares outstanding, diluted 31,229 32,205 30,633 Diluted earnings per common share $ 1.48 $ 1.47 $ 1.46

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Employer Contributions	The following table summarizes certain information regarding contributions made by the Bank to the CRF: (In thousands) Contributions Bank contributions greater than 5% of total contributions received by the CRF? Year Ended December 31, 2020 $ 6,278 Yes 2019 6,254 Yes 2018 6,392 Yes
Schedule of Changes in Benefit Obligations and Plan Assets	The following table summarizes the plans’ benefit obligation, the changes in the plans’ benefit obligation, changes in plan assets and the plan’s funded status: (In thousands) 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 4,527 $ 4,469 Service cost — — Interest cost 118 165 Amendments — — Actuarial loss (gain) (71) 373 Benefits paid (480) (480) Benefit obligation at end of year 4,094 4,527 Change in plan assets: Employer contributions 480 480 Benefits paid (480) (480) Plan assets at end of year — — Benefit obligation, included in other liabilities $ 4,094 $ 4,527
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)	(In thousands) 2020 2019 2018 Net actuarial loss $ 3,200 $ 3,591 $ 3,436 Prior service credit (349) (378) (406) Total amount recognized $ 2,851 $ 3,213 $ 3,030
Schedule of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income	The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income: (In thousands) 2020 2019 2018 Components of net periodic benefit cost: Service cost $ — $ — $ — Interest cost 118 165 163 Prior service credit amortization (29) (29) (29) Prior service credit due to curtailments — — — Recognized actuarial (gain) loss 320 219 288 Net periodic benefit $ 409 $ 355 $ 422 Components of other amounts: Net regular actuarial (gain) loss $ 379 $ 373 $ (650) Recognized actuarial gain (loss) (320) (219) (288) Prior service credit amortization 29 29 29 Prior service credit due to curtailments (450) — — Prior service credit due to amendment — — — Total recognized in other comprehensive income $ (362) $ 183 $ (909) Total recognized in comprehensive income $ 47 $ 538 $ (487)
Schedule of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income	The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income: (In thousands) 2020 2019 2018 Components of net periodic benefit cost: Service cost $ — $ — $ — Interest cost 118 165 163 Prior service credit amortization (29) (29) (29) Prior service credit due to curtailments — — — Recognized actuarial (gain) loss 320 219 288 Net periodic benefit $ 409 $ 355 $ 422 Components of other amounts: Net regular actuarial (gain) loss $ 379 $ 373 $ (650) Recognized actuarial gain (loss) (320) (219) (288) Prior service credit amortization 29 29 29 Prior service credit due to curtailments (450) — — Prior service credit due to amendment — — — Total recognized in other comprehensive income $ (362) $ 183 $ (909) Total recognized in comprehensive income $ 47 $ 538 $ (487)
Assumptions Used to Measure Plans' Benefit Obligation and Net Periodic Benefit Expense	The following table summarizes certain weighted average assumptions used to measure the plans’ obligation at the end of the year as well as net periodic benefit expense during the year: 2020 2019 2018 Weighted average assumptions used to determine benefit obligations: Discount rate 1.50 % 2.77 % 3.91 % Weighted average assumptions used to determine net periodic benefit cost: Discount rate 3.13 % 3.92 % 3.16 %
Schedule of Stock Option Activity	A summary of the status of the Bank’s options as of December 31, 2020 follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding, December 31, 2019 2,051,020 $ 13.06 6.6 years Granted — — — Forfeited/ Expired (61,240) 13.94 — Exercised (11,220) 13.75 — Outstanding, December 31, 2020 1,978,560 13.03 4.2 years $ 1,885 Vested and Exercisable, December 31, 2020 1,809,932 $ 12.88 4.3 years $ 1,885
Schedule of Restricted Stock Unit Activity	A summary of the status of the Bank’s employee RSUs as of December 31, 2020 follows: Shares Grant Date Fair Value Unvested, December 31, 2019 189,999 $ 17.81 Awarded 238,716 14.35 Forfeited/Expired (98,388) 17.67 Vested (39,690) 17.67 Unvested, December 31, 2020 290,637 $ 15.99

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring Basis	The following summarizes those financial instruments measured at fair value in the consolidated statements of financial condition categorized by the relevant class of investment and level of the fair value hierarchy: December 31, 2020 (In thousands) Level 1 Level 2 Level 3 Total Available for sale securities: Mortgage-related: GSE residential certificates $ — $ 13,299 $ — $ 13,299 GSE CMOs — 366,421 — 366,421 GSE commercial certificates & CMO — 432,614 — 432,614 Non-GSE residential certificates — 33,384 — 33,384 Non-GSE commercial certificates — 44,968 — 44,968 Other debt: U.S. Treasury 203 — — 203 ABS — 597,546 — 597,546 Trust preferred — 13,773 — 13,773 Corporate — 37,654 — 37,654 Total assets carried at fair value $ 203 $ 1,539,659 $ — $ 1,539,862 December 31, 2019 (In thousands) Level 1 Level 2 Level 3 Total Available for sale securities: Mortgage-related: GSE residential certificates $ — $ 36,385 $ — $ 36,385 GSE CMOs — 282,434 — 282,434 Non-GSE residential certificates — 253,913 — 253,913 GSE commercial certificates — 59,008 — 59,008 Non-GSE commercial certificates — 46,874 — 46,874 Other debt: U.S. Treasury 199 — — 199 ABS — 523,777 — 523,777 Trust preferred — 13,897 — 13,897 Corporate — 8,283 — 8,283 Total assets carried at fair value $ 199 $ 1,224,571 $ — $ 1,224,770
Schedule of Assets Measured on Nonrecurring Basis	The following tables summarize assets measured at fair value on a non-recurring basis: December 31, 2020 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Fair Value Measurements: Impaired loans $ 67,433 $ — $ — $ 67,433 $ 67,433 Other real estate owned 307 — — 303 303 $ 67,740 $ — $ — $ 67,736 $ 67,736 December 31, 2019 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Fair Value Measurements: Impaired loans $ 57,903 $ — $ — $ 57,903 $ 57,903 Other real estate owned 809 — — 977 977 $ 58,712 $ — $ — $ 58,880 $ 58,880
Schedule of Basis and Estimated Fair Values of Financial Instruments	The following table summarizes the financial statement basis and estimated fair values for significant categories of financial instruments: December 31, 2020 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 38,769 $ 38,769 $ — $ — $ 38,769 Available for sale securities 1,513,409 203 1,539,659 — 1,539,862 Held to maturity securities 494,449 — 76,519 425,906 502,425 Loans held for sale 11,178 — — 11,178 11,178 Loans receivable, net 3,447,306 — — 3,566,742 3,566,742 FHLBNY stock (1) 3,934 — 3,934 3,934 Resell agreements 154,779 — 154,779 154,779 Accrued interest and dividends receivable 23,970 — 23,970 — 23,970 Financial liabilities: Deposits payable on demand 5,066,687 — 5,066,687 — 5,066,687 Time deposits 272,025 — 272,451 — 272,451 Borrowed funds — — — — — Accrued interest payable 386 — 386 — 386 (1) Prices not quoted in active markets but redeemable at par. December 31, 2019 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 122,538 $ 122,538 $ — $ — $ 122,538 Available for sale securities 1,224,770 199 1,224,571 — 1,224,770 Held to maturity securities 292,704 — 23,132 269,705 292,837 Loans held for sale 2,328 — — 2,328 2,328 Loans receivable, net 3,438,767 — — 3,474,296 3,474,296 FHLBNY stock (1) 7,039 — 7,039 — 7,039 Accrued interest and dividends receivable 19,088 — 19,088 — 19,088 Financial liabilities: Deposits payable on demand 4,247,427 — 4,247,427 — 4,247,427 Time deposits 393,555 — 394,385 — 394,385 Borrowed funds 75,000 — 75,000 — 75,000 Accrued interest payable 1,383 — 1,383 — 1,383 (1) Prices not quoted in active markets but redeemable at par.

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Financial Instruments Outstanding Representing Credit Risk	As of December 31, 2020 and 2019, the following financial instruments were outstanding whose contract amounts represent credit risk: Year Ended December 31, (In thousands) 2020 2019 Commitments to extend credit $ 455,541 $ 567,117 Standby letters of credit 17,910 15,169 Total $ 473,451 $ 582,286

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Lease Cost and Other Information	The following table summarizes our lease cost and other operating lease information: Year Ended December 31, 2020 2019 (In thousands) Operating lease cost $ 15,256 $ 10,572 Cash paid for amounts included in the measurement of Operating leases liability $ 12,358 $ 10,776 Weighted average remaining lease term on operating leases (in years) 5.7 6.5 Weighted average discount rate used for operating leases liability 3.27 % 3.25 % Note: Sublease income and variable income or expense considered immaterial
Schedule of Remaining Commitments of Operating Lease Payments	The following table presents the remaining commitments for operating lease payments for the next five years and thereafter, as well as a reconciliation to the discounted Operating leases liability recorded in the Consolidated Statements of Financial Condition: (In thousands) Year Ending December 31, 2021 9,806 2022 9,931 2023 9,818 2024 9,828 2025 9,851 Thereafter 8,912 Total undiscounted operating lease payments 58,146 Less: present value adjustment 4,973 Total Operating leases liability $ 53,173

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Estimated Amortization Expense	The following table reflects the estimated amortization expense, comprised entirely by the Bank’s core deposit intangible asset, for the next five years and thereafter: (In thousands) 2021 $ 1,207 2022 1,047 2023 888 2024 730 2025 574 Thereafter 913 Total $ 5,359

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	(In thousands) December 31, 2020 December 31, 2019 Unconsolidated Variable Interest Entities Tax credit investments included in equity investments $ 6,735 $ — Unfunded tax credit commitments included in other liabilities — — Loans and letters of credit commitments 11,097 — Funded portion of loans and letters of credit commitments 11,097 — Year Ended 2020 2019 (In thousands) Tax credits and other tax benefits recognized $ 23,993 —

QUARTERLY FINANCIAL DATA (UNA_2

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Consolidated Quarterly Financial Data	Selected Consolidated Quarterly Financial Data (1) Selected Operating Data: 2020 Quarter Ended (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 48,631 $ 47,120 $ 47,283 $ 47,462 Interest expense 3,942 2,681 2,049 1,807 Net interest income 44,689 44,439 45,234 45,655 Provision (release) for loan losses 8,588 8,221 3,394 4,589 Net interest income after provision for loan losses 36,101 36,218 41,840 41,066 Non-interest income 9,118 8,671 12,776 10,040 Non-interest expense 32,270 31,068 37,877 32,670 Income before income taxes 12,949 13,821 16,739 18,436 Provision for income taxes 3,404 3,447 4,259 4,646 Net income $ 9,545 $ 10,374 $ 12,480 $ 13,790 Basic earnings per share $ 0.30 $ 0.33 $ 0.40 $ 0.44 Diluted earnings per share $ 0.30 $ 0.33 $ 0.40 $ 0.44 Selected Operating Data: 2019 Quarter Ended (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 45,774 $ 46,528 $ 46,697 $ 46,955 Interest expense 5,001 4,672 4,940 4,705 Net interest income 40,773 41,856 41,757 42,250 Provision (release) for loan losses 2,186 2,127 (558) 83 Net interest income after provision for loan losses 38,587 39,729 42,315 42,167 Non-interest income 7,417 6,349 7,659 7,776 Non-interest expense 31,448 31,002 31,886 33,490 Income before income taxes 14,556 15,076 18,088 16,453 Provision for income taxes 3,743 3,891 4,893 4,445 Net income (loss) $ 10,813 $ 11,185 $ 13,195 $ 12,008 Basic earnings per share $ 0.34 $ 0.35 $ 0.41 $ 0.38 Diluted earnings per share $ 0.33 $ 0.35 $ 0.41 $ 0.37 (1) These quarterly results reflect as published data.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash deposits in other banks in excess of FDIC limit	$ 5,000	$ 3,000
Restricted cash	400	400
Loans held for sale	$ 11,178	2,328
Estimated useful life of intangible assets	10 years
Property, Plant and Equipment [Line Items]
Contributions to trustee of multi-employer defined benefit pension plan	$ 6,278	6,254	$ 6,392
Resell agreements	154,779	$ 0
Interest income from resell agreements	$ 800
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Useful life of premises and equipment	10 years
Computer Equipment, Hardware and Software | Minimum
Property, Plant and Equipment [Line Items]
Useful life of premises and equipment	3 years
Computer Equipment, Hardware and Software | Maximum
Property, Plant and Equipment [Line Items]
Useful life of premises and equipment	7 years

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Details) $ in Thousands	Dec. 31, 2018USD ($)facility	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of facilities in scope | facility	15
Operating lease liability		$ 53,173	$ 62,404
Operating lease, right-of-use asset		$ 36,104	$ 47,299
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 71,100
Operating lease, right-of-use asset	55,800
Reduction in accrued rent	$ 15,300

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Change in total obligation for postretirement benefits and for prior service credit and for other benefits	$ 362	$ (183)	$ 909
Income tax effect	(99)	57	(247)
Net change in total obligation for postretirement benefits and prior service credit and for other benefits	263	(126)	662
Unrealized holding gains (losses) on available for sale securities	20,374	21,309	(8,995)
Reclassification adjustment for losses (gains) realized in income	(1,604)	(86)	241
Change in unrealized gains (losses) on available for sale securities	18,770	21,223	(8,754)
Income tax effect	(5,082)	(5,882)	2,426
Net change in unrealized gains (losses) on available for sale securities	13,688	15,341	(6,328)
Total other comprehensive income (loss), net of taxes	$ 13,951	$ 15,215	$ (5,666)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 490,544	$ 439,371	$ 344,068	[1]
Current Period Change	19,132	21,040	(7,845)
Income Tax Effect	(5,181)	(5,825)	2,179
Ending balance	535,821	490,544	439,371
Unrealized gains (losses) on benefits plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,319)	(2,193)
Current Period Change	362	(183)
Income Tax Effect	(99)	57
Ending balance	(2,056)	(2,319)	(2,193)
Unrealized gains (losses) on available for sale securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	5,544	(9,797)
Current Period Change	18,770	21,223
Income Tax Effect	(5,082)	(5,882)
Ending balance	19,232	5,544	(9,797)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,225	(11,990)	(6,324)	[1]
Current Period Change	19,132	21,040
Income Tax Effect	(5,181)	(5,825)
Ending balance	$ 17,176	$ 3,225	$ (11,990)
[1]	effected for stock split that occurred on July 27, 2018

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-Interest Income - other									$ 2,042	$ 878	$ 872
Income tax expense (benefit)	$ 4,646	$ 4,259	$ 3,447	$ 3,404	$ 4,445	$ 4,893	$ 3,891	$ 3,743	15,755	16,972	5,666
Compensation and employee benefits									69,421	70,276	67,425
Total reclassifications, net of income tax	$ 13,790	$ 12,480	$ 10,374	$ 9,545	$ 12,008	$ 13,195	$ 11,185	$ 10,813	46,188	47,202	44,654
Reclassification out of accumulated other comprehensive income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of income tax									1,186	83	(153)
Reclassification out of accumulated other comprehensive income (loss) | Realized and recognized gains (losses) on sale of AFS and OTTI securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on sale of investment securities available for sale, net									1,605	83	(249)
Non-Interest Income - other									(1)	3	8
Income tax expense (benefit)									438	24	(67)
Total reclassifications, net of income tax									1,166	62	(174)
Reclassification out of accumulated other comprehensive income (loss) | Prior service credit on pension plans and other postretirement benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense (benefit)									(8)	(8)	(8)
Compensation and employee benefits									28	29	29
Total reclassifications, net of income tax									$ 20	$ 21	$ 21

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Fair Value of of AFS and HTM Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,513,409	$ 1,217,087
Gross Unrealized Gains	29,995	11,918
Gross Unrealized Losses	(3,542)	(4,235)
Fair Value	1,539,862	1,224,770
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	494,449	292,704
Gross Unrealized Gains	7,976	1,450
Gross Unrealized Losses	0	(1,317)
Fair Value	502,425	292,837
Mortgage-Related
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	866,547	670,019
Gross Unrealized Gains	24,953	9,958
Gross Unrealized Losses	(814)	(1,363)
Fair Value	890,686	678,614
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	823	905
Gross Unrealized Gains	53	42
Gross Unrealized Losses	0	0
Fair Value	876	947
GSE residential certificates
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,977	36,639
Gross Unrealized Gains	322	97
Gross Unrealized Losses	0	(351)
Fair Value	13,299	36,385
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	611	635
Gross Unrealized Gains	38	23
Gross Unrealized Losses	0	0
Fair Value	649	658
GSE CMOs
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	353,783	277,512
Gross Unrealized Gains	12,690	5,350
Gross Unrealized Losses	(52)	(428)
Fair Value	366,421	282,434
GSE commercial certificates & CMO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	421,488	250,357
Gross Unrealized Gains	11,548	4,003
Gross Unrealized Losses	(422)	(447)
Fair Value	432,614	253,913
Non-GSE residential certificates
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	33,120	58,643
Gross Unrealized Gains	281	459
Gross Unrealized Losses	(17)	(94)
Fair Value	33,384	59,008
Non-GSE commercial certificates
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,179	46,868
Gross Unrealized Gains	112	49
Gross Unrealized Losses	(323)	(43)
Fair Value	44,968	46,874
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	212	270
Gross Unrealized Gains	15	19
Gross Unrealized Losses	0	0
Fair Value	227	289
Other Debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	646,862	547,068
Gross Unrealized Gains	5,042	1,960
Gross Unrealized Losses	(2,728)	(2,872)
Fair Value	649,176	546,156
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	493,626	291,799
Gross Unrealized Gains	7,923	1,408
Gross Unrealized Losses	0	(1,317)
Fair Value	501,549	291,890
U.S. Treasury
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	200	199
Gross Unrealized Gains	3	0
Gross Unrealized Losses	0	0
Fair Value	203	199
ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	595,062	524,289
Gross Unrealized Gains	4,356	1,634
Gross Unrealized Losses	(1,872)	(2,146)
Fair Value	597,546	523,777
Trust preferred
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,627	14,623
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(854)	(726)
Fair Value	13,773	13,897
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	36,973	7,957
Gross Unrealized Gains	683	326
Gross Unrealized Losses	(2)	0
Fair Value	37,654	8,283
PACE Assessments
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	421,036	263,805
Gross Unrealized Gains	4,870	810
Gross Unrealized Losses	0	0
Fair Value	425,906	264,615
Municipal
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	67,490	22,894
Gross Unrealized Gains	3,019	598
Gross Unrealized Losses	0	(1,307)
Fair Value	70,509	22,185
Other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	0	0
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	5,100	5,100
Gross Unrealized Gains	34	0
Gross Unrealized Losses	0	(10)
Fair Value	$ 5,134	$ 5,090

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value of available for sale securities, pledged as collateral	$ 966,500,000	$ 711,200,000
Fair value of held to maturity securities, pledged as collateral		600,000
Available for sale, amortized cost	1,513,409,000	1,217,087,000
Available for sale assets carried at fair value	1,539,862,000	1,224,770,000
Fair value of temporarily impaired securities	592,469,000	508,213,000
Available for sale securities, temporarily impaired, unrealized loss	3,542,000	4,235,000
Other than temporary impairment loss	(900)	3,000	$ 8,000
Recovery of other-than-temporary impairment		2,900	$ 8,000
Noninvestment Grade
Debt Securities, Available-for-sale [Line Items]
Fair value of temporarily impaired securities	47,000
Trust Preferred
Debt Securities, Available-for-sale [Line Items]
Available for sale, amortized cost	14,627,000	14,623,000
Available for sale assets carried at fair value	13,773,000	13,897,000
Fair value of temporarily impaired securities	13,773,000	13,897,000
Available for sale securities, temporarily impaired, unrealized loss	854,000	726,000
GSE residential certificates
Debt Securities, Available-for-sale [Line Items]
Available for sale, amortized cost	12,977,000	36,639,000
Available for sale assets carried at fair value	13,299,000	36,385,000
Fair value of temporarily impaired securities		23,469,000
Available for sale securities, temporarily impaired, unrealized loss		$ 351,000
Excluding GSE, US Treasury, TRUPS
Debt Securities, Available-for-sale [Line Items]
Fair value of temporarily impaired securities	342,900,000
Available for sale securities, temporarily impaired, unrealized loss	$ 2,200,000

INVESTMENT SECURITIES - AFS and

INVESTMENT SECURITIES - AFS and HTM Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Amortized Cost	$ 1,513,409	$ 1,217,087
Fair Value
Fair value	1,539,862	1,224,770
Amortized Cost
Amortized Cost	494,449	292,704
Fair Value
Fair value	502,425	292,837
Other Debt
Amortized Cost
Due within one year	0
Due after one year through five years	21,063
Due after five years through ten years	231,427
Due after ten years	394,372
Amortized Cost	646,862	547,068
Fair Value
Due within one year	0
Due after one year through five years	21,403
Due after five years through ten years	230,416
Due after ten years	397,357
Fair value	649,176	546,156
Amortized Cost
Due within one year	2,000
Due after one year through five years	3,100
Due after five years through ten years	10,152
Due after ten years	478,374
Amortized Cost	493,626	291,799
Fair Value
Due within one year	2,001
Due after one year through five years	3,133
Due after five years through ten years	10,207
Due after ten years	486,208
Fair value	$ 501,549	$ 291,890

INVESTMENT SECURITIES - Proceed

INVESTMENT SECURITIES - Proceeds Received and Gains (Losses) Realized on Sale of Available for Sale Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 94,698	$ 245,260	$ 125,390
Realized gains	2,111	1,912	403
Realized losses	(506)	(1,829)	(652)
Net realized gains (losses)	$ 1,605	$ 83	$ (249)

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Unrealized Losses on Available for Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	$ 159,966	$ 225,465
Available for sale, less than 12 months, unrealized losses	(334)	(811)
Available for sale, 12 months or longer, fair value	432,503	282,748
Available for sale, 12 months or longer, unrealized losses	(3,208)	(3,424)
Available for sale, total fair value	592,469	508,213
Available for sale, total unrealized losses	(3,542)	(4,235)
GSE residential certificates
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value		4,849
Available for sale, less than 12 months, unrealized losses		(11)
Available for sale, 12 months or longer, fair value		18,620
Available for sale, 12 months or longer, unrealized losses		(340)
Available for sale, total fair value		23,469
Available for sale, total unrealized losses		(351)
GSE CMOs
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	31,106	43,794
Available for sale, less than 12 months, unrealized losses	(35)	(118)
Available for sale, 12 months or longer, fair value	12,910	23,995
Available for sale, 12 months or longer, unrealized losses	(17)	(310)
Available for sale, total fair value	44,016	67,789
Available for sale, total unrealized losses	(52)	(428)
GSE commercial certificates & CMO
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	116,667
Available for sale, less than 12 months, unrealized losses	(287)
Available for sale, 12 months or longer, fair value	75,126
Available for sale, 12 months or longer, unrealized losses	(135)
Available for sale, total fair value	191,793
Available for sale, total unrealized losses	(422)
GSE commercial certificates
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value		59,615
Available for sale, less than 12 months, unrealized losses		(428)
Available for sale, 12 months or longer, fair value		14,001
Available for sale, 12 months or longer, unrealized losses		(19)
Available for sale, total fair value		73,616
Available for sale, total unrealized losses		(447)
Non-GSE residential certificates
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	2,138	2,836
Available for sale, less than 12 months, unrealized losses	(9)	(11)
Available for sale, 12 months or longer, fair value	3,077	13,537
Available for sale, 12 months or longer, unrealized losses	(8)	(83)
Available for sale, total fair value	5,215	16,373
Available for sale, total unrealized losses	(17)	(94)
Non-GSE commercial certificates
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	47	19,276
Available for sale, less than 12 months, unrealized losses	0	(25)
Available for sale, 12 months or longer, fair value	29,207	7,048
Available for sale, 12 months or longer, unrealized losses	(323)	(18)
Available for sale, total fair value	29,254	26,324
Available for sale, total unrealized losses	(323)	(43)
ABS
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	3,010	95,095
Available for sale, less than 12 months, unrealized losses	(1)	(218)
Available for sale, 12 months or longer, fair value	298,410	191,650
Available for sale, 12 months or longer, unrealized losses	(1,871)	(1,928)
Available for sale, total fair value	301,420	286,745
Available for sale, total unrealized losses	(1,872)	(2,146)
Trust preferred
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	0	0
Available for sale, less than 12 months, unrealized losses	0	0
Available for sale, 12 months or longer, fair value	13,773	13,897
Available for sale, 12 months or longer, unrealized losses	(854)	(726)
Available for sale, total fair value	13,773	13,897
Available for sale, total unrealized losses	(854)	$ (726)
Corporate
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	6,998
Available for sale, less than 12 months, unrealized losses	(2)
Available for sale, 12 months or longer, fair value	0
Available for sale, 12 months or longer, unrealized losses	0
Available for sale, total fair value	6,998
Available for sale, total unrealized losses	$ (2)

FEDERAL HOME LOAN BANK STOCK (D

FEDERAL HOME LOAN BANK STOCK (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Advances from Federal Home Loan Banks [Abstract]
Dividend income from Federal Home Loan Bank of New York stock	$ 227	$ 813	$ 1,040

LOANS RECEIVABLE, NET - Schedul

LOANS RECEIVABLE, NET - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 3,482,565	$ 3,464,490
Net deferred loan origination costs (fees)	6,330	8,124
Loans receivable, net of deferred loan origination costs (fees)	3,488,895	3,472,614
Allowance for loan losses	(41,589)	(33,847)	$ (37,195)	$ (35,965)
Loans receivable, net	3,447,306	3,438,767
Commercial portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	2,053,192	1,934,940
Commercial portfolio | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	677,192	474,342
Allowance for loan losses	(9,065)	(11,126)	(16,046)	(15,455)
Commercial portfolio | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	947,177	976,380
Allowance for loan losses	(10,324)	(5,210)	(4,736)	(5,280)
Commercial portfolio | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	372,736	421,947
Allowance for loan losses	(6,213)	(2,492)	(2,573)	(3,377)
Commercial portfolio | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	56,087	62,271
Allowance for loan losses	(2,077)	(808)	(1,089)	(188)
Retail portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	1,429,373	1,529,550
Retail portfolio | Residential real estate lending
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	1,238,697	1,366,473
Allowance for loan losses	(12,330)	(14,149)	(11,987)	(11,265)
Retail portfolio | Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	190,676	163,077
Allowance for loan losses	$ (1,580)	$ (62)	$ (764)	$ (400)

LOANS RECEIVABLE, NET - Sched_2

LOANS RECEIVABLE, NET - Schedule of Quality of Bank's Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Past Due	$ 106,631	$ 43,508
Non- Accrual	60,548	15,838
90 Days or More Delinquent and Still Accruing Interest	1,404	446
Current and Not Accruing Interest	376	15,173
Current	3,375,558	3,405,809
Total Loans Receivable	3,482,565	3,464,490
30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	44,679	27,224
Commercial portfolio
Financing Receivable, Past Due [Line Items]
Past Due	62,178	15,773
Non- Accrual	36,636	8,126
90 Days or More Delinquent and Still Accruing Interest	1,404	22
Current and Not Accruing Interest	0	14,783
Current	1,991,014	1,904,384
Total Loans Receivable	2,053,192	1,934,940
Commercial portfolio | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	24,138	7,625
Commercial portfolio | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Past Due	13,848	4,773
Non- Accrual	12,444	781
90 Days or More Delinquent and Still Accruing Interest	1,404	22
Current and Not Accruing Interest	0	14,783
Current	663,344	454,786
Total Loans Receivable	677,192	474,342
Commercial portfolio | Commercial and industrial | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	0	3,970
Commercial portfolio | Multifamily
Financing Receivable, Past Due [Line Items]
Past Due	13,165	0
Non- Accrual	9,575	0
90 Days or More Delinquent and Still Accruing Interest	0	0
Current and Not Accruing Interest	0	0
Current	934,012	976,380
Total Loans Receivable	947,177	976,380
Commercial portfolio | Multifamily | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	3,590	0
Commercial portfolio | Commercial real estate
Financing Receivable, Past Due [Line Items]
Past Due	14,007	4,713
Non- Accrual	3,433	3,693
90 Days or More Delinquent and Still Accruing Interest	0	0
Current and Not Accruing Interest	0	0
Current	358,729	417,234
Total Loans Receivable	372,736	421,947
Commercial portfolio | Commercial real estate | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	10,574	1,020
Commercial portfolio | Construction and land development
Financing Receivable, Past Due [Line Items]
Past Due	21,158	6,287
Non- Accrual	11,184	3,652
90 Days or More Delinquent and Still Accruing Interest	0	0
Current and Not Accruing Interest	0	0
Current	34,929	55,984
Total Loans Receivable	56,087	62,271
Commercial portfolio | Construction and land development | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	9,974	2,635
Retail portfolio
Financing Receivable, Past Due [Line Items]
Past Due	44,453	27,735
Non- Accrual	23,912	7,712
90 Days or More Delinquent and Still Accruing Interest	0	424
Current and Not Accruing Interest	376	390
Current	1,384,544	1,501,425
Total Loans Receivable	1,429,373	1,529,550
Retail portfolio | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	20,541	19,599
Retail portfolio | Residential real estate lending
Financing Receivable, Past Due [Line Items]
Past Due	42,806	25,625
Non- Accrual	23,280	7,384
90 Days or More Delinquent and Still Accruing Interest	0	424
Current and Not Accruing Interest	376	390
Current	1,195,515	1,340,458
Total Loans Receivable	1,238,697	1,366,473
Retail portfolio | Residential real estate lending | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	19,526	17,817
Retail portfolio | Consumer and other
Financing Receivable, Past Due [Line Items]
Past Due	1,647	2,110
Non- Accrual	632	328
90 Days or More Delinquent and Still Accruing Interest	0	0
Current and Not Accruing Interest	0	0
Current	189,029	160,967
Total Loans Receivable	190,676	163,077
Retail portfolio | Consumer and other | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due	$ 1,015	$ 1,782

LOANS RECEIVABLE, NET - Narrati

LOANS RECEIVABLE, NET - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Receivables [Abstract]
Loans held for sale	$ 11,178	$ 2,328
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	3,482,565	3,464,490
Mortgage loans pledged to the FHLBNY to secure outstanding advances and letters of credit	1,200,000	1,100,000
Related party loans outstanding	0	600
Paycheck Protection Program
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	51,300
Payment Deferral Method - CARES Act
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	41,000
Principal and Interest Payment Deferral Method - CARES Act
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	33,000
Principal Deferral Method - CARES Act
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	4,700
Interest Payment Deferral Method - CARES Act
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	3,600
Retail portfolio
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	1,429,373	1,529,550
Retail portfolio | Residential real estate lending
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans receivable, before credit losses and fees	$ 1,238,697	$ 1,366,473
Number of loans subsequently defaulted | loan	4	4
Amount of loans subsequently defaulted	$ 700	$ 1,200

LOANS RECEIVABLE, NET - Sched_3

LOANS RECEIVABLE, NET - Schedule of Loans in Deferral from COVID-19 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 3,482,565	$ 3,464,490
Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	41,000
Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 41,000
Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.20%
Commercial portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 2,053,192	1,934,940
Commercial portfolio | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	21,000
Commercial portfolio | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Commercial portfolio | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 21,000
Commercial portfolio | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.00%
Commercial portfolio | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 677,192	474,342
Commercial portfolio | Commercial and industrial | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	4,000
Commercial portfolio | Commercial and industrial | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Commercial portfolio | Commercial and industrial | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 4,000
Commercial portfolio | Commercial and industrial | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	0.60%
Commercial portfolio | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 947,177	$ 976,380
Commercial portfolio | Multifamily | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	15,000
Commercial portfolio | Multifamily | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Commercial portfolio | Multifamily | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 15,000
Commercial portfolio | Multifamily | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.60%
Commercial portfolio | Commercial real estate, construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 429,000
Commercial portfolio | Commercial real estate, construction and land development | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	2,000
Commercial portfolio | Commercial real estate, construction and land development | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Commercial portfolio | Commercial real estate, construction and land development | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 2,000
Commercial portfolio | Commercial real estate, construction and land development | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	0.50%
Retail portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 1,430,000
Retail portfolio | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	20,000
Retail portfolio | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Retail portfolio | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 20,000
Retail portfolio | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.40%
Retail portfolio | Residential real estate lending
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 1,239,000
Retail portfolio | Residential real estate lending | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	18,000
Retail portfolio | Residential real estate lending | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Retail portfolio | Residential real estate lending | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 18,000
Retail portfolio | Residential real estate lending | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.50%
Retail portfolio | Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 191,000
Retail portfolio | Consumer and other | Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	2,000
Retail portfolio | Consumer and other | Payment Deferral in Process Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	0
Retail portfolio | Consumer and other | Payment Deferral and in Process Payment Deferral Method - CARES Act
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, before credit losses and fees	$ 2,000
Retail portfolio | Consumer and other | Payment Deferral and in Process Payment Deferral Method - CARES Act | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Deferrals as % of Portfolio	1.00%

LOANS RECEIVABLE, NET - Sched_4

LOANS RECEIVABLE, NET - Schedule of Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Accruing	$ 19,553	$ 34,367
Non- Accrual	20,885	25,019
Loans receivable, before credit losses and fees	3,482,565	3,464,490
Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	40,438	59,386
Commercial portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	2,053,192	1,934,940
Commercial portfolio | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Accruing	1,648	8,984
Non- Accrual	12,116	14,783
Loans receivable, before credit losses and fees	677,192	474,342
Commercial portfolio | Commercial and industrial | Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	13,764	23,767
Commercial portfolio | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Accruing	0	5,114
Non- Accrual	3,433	3,693
Loans receivable, before credit losses and fees	372,736	421,947
Commercial portfolio | Commercial real estate | Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	3,433	8,807
Commercial portfolio | Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Accruing	0	0
Non- Accrual	2,682	3,652
Loans receivable, before credit losses and fees	56,087	62,271
Commercial portfolio | Construction and land development | Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	2,682	3,652
Retail portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	1,429,373	1,529,550
Retail portfolio | Residential real estate lending
Financing Receivable, Allowance for Credit Loss [Line Items]
Accruing	17,905	20,269
Non- Accrual	2,654	2,891
Loans receivable, before credit losses and fees	1,238,697	1,366,473
Retail portfolio | Residential real estate lending | Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, before credit losses and fees	$ 20,559	$ 23,160

LOANS RECEIVABLE, NET - Sched_5

LOANS RECEIVABLE, NET - Schedule of Troubled Debt Restructurings Granted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans | loan	7	6
Recorded Investment	$ 3,101	$ 29,697
Pre-modification, weighted average interest rate	5.81%	6.27%
Post-modification, weighted average interest rate	5.18%	6.20%
Charge-off Amount	$ 18	$ 0
Commercial portfolio | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans | loan	4	3
Recorded Investment	$ 2,109	$ 22,131
Pre-modification, weighted average interest rate	5.76%	5.86%
Post-modification, weighted average interest rate	5.76%	5.86%
Charge-off Amount	$ 0	$ 0
Commercial portfolio | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans | loan	0	1
Recorded Investment	$ 0	$ 3,693
Pre-modification, weighted average interest rate	0.00%	8.54%
Post-modification, weighted average interest rate	0.00%	6.54%
Charge-off Amount	$ 0	$ 0
Commercial portfolio | Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans | loan	0	1
Recorded Investment	$ 0	$ 3,652
Pre-modification, weighted average interest rate	0.00%	6.50%
Post-modification, weighted average interest rate	0.00%	8.00%
Charge-off Amount	$ 0	$ 0
Retail portfolio | Residential real estate lending
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans | loan	3	1
Recorded Investment	$ 992	$ 221
Pre-modification, weighted average interest rate	5.92%	6.00%
Post-modification, weighted average interest rate	3.96%	4.50%
Charge-off Amount	$ 18	$ 0

LOANS RECEIVABLE, NET - Sched_6

LOANS RECEIVABLE, NET - Schedule of Loan Portfolio by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	$ 3,482,565	$ 3,464,490
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	3,114,298	3,402,370
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	211,853	14,445
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	155,952	47,208
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	462	467
Commercial portfolio
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	2,053,192	1,934,940
Commercial portfolio | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	677,192	474,342
Commercial portfolio | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	627,553	427,279
Commercial portfolio | Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	16,407	14,445
Commercial portfolio | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	32,770	32,151
Commercial portfolio | Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	462	467
Commercial portfolio | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	947,177	976,380
Commercial portfolio | Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	775,605	976,380
Commercial portfolio | Multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	138,090	0
Commercial portfolio | Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	33,482	0
Commercial portfolio | Multifamily | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Commercial portfolio | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	372,736	421,947
Commercial portfolio | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	276,712	418,254
Commercial portfolio | Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	41,420	0
Commercial portfolio | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	54,604	3,693
Commercial portfolio | Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Commercial portfolio | Construction and land development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	56,087	62,271
Commercial portfolio | Construction and land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	28,967	58,619
Commercial portfolio | Construction and land development | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	15,936	0
Commercial portfolio | Construction and land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	11,184	3,652
Commercial portfolio | Construction and land development | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Retail portfolio
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	1,429,373	1,529,550
Retail portfolio | Residential real estate lending
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	1,238,697	1,366,473
Retail portfolio | Residential real estate lending | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	1,215,417	1,359,089
Retail portfolio | Residential real estate lending | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Retail portfolio | Residential real estate lending | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	23,280	7,384
Retail portfolio | Residential real estate lending | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Retail portfolio | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	190,676	163,077
Retail portfolio | Consumer and other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	190,044	162,749
Retail portfolio | Consumer and other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	0	0
Retail portfolio | Consumer and other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	632	328
Retail portfolio | Consumer and other | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, before credit losses and fees	$ 0	$ 0

LOANS RECEIVABLE, NET - Method

LOANS RECEIVABLE, NET - Method of Evaluating Impairment of Loans and Allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	$ 80,477	$ 65,372
Loans - collectively evaluated for impairment	3,402,088	3,399,118
Total Loans Receivable	3,482,565	3,464,490
Allowance for loan losses - individually evaluated for impairment	6,238	7,469
Allowance for loan losses - collectively evaluated for impairment	35,351	26,378
Total allowance for loan losses	41,589	33,847	$ 37,195	$ 35,965
Commercial portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans Receivable	2,053,192	1,934,940
Commercial portfolio | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	14,706	24,870
Loans - collectively evaluated for impairment	662,486	449,472
Total Loans Receivable	677,192	474,342
Allowance for loan losses - individually evaluated for impairment	3,118	6,144
Allowance for loan losses - collectively evaluated for impairment	5,947	4,982
Total allowance for loan losses	9,065	11,126	16,046	15,455
Commercial portfolio | Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	9,575	0
Loans - collectively evaluated for impairment	937,602	976,380
Total Loans Receivable	947,177	976,380
Allowance for loan losses - individually evaluated for impairment	1,933	0
Allowance for loan losses - collectively evaluated for impairment	8,391	5,210
Total allowance for loan losses	10,324	5,210	4,736	5,280
Commercial portfolio | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	3,433	8,807
Loans - collectively evaluated for impairment	369,303	413,140
Total Loans Receivable	372,736	421,947
Allowance for loan losses - individually evaluated for impairment	0	0
Allowance for loan losses - collectively evaluated for impairment	6,213	2,492
Total allowance for loan losses	6,213	2,492	2,573	3,377
Commercial portfolio | Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	11,184	3,652
Loans - collectively evaluated for impairment	44,903	58,619
Total Loans Receivable	56,087	62,271
Allowance for loan losses - individually evaluated for impairment	0	0
Allowance for loan losses - collectively evaluated for impairment	2,077	808
Total allowance for loan losses	2,077	808	1,089	188
Retail portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans Receivable	1,429,373	1,529,550
Retail portfolio | Residential real estate lending
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	41,579	28,043
Loans - collectively evaluated for impairment	1,197,118	1,338,430
Total Loans Receivable	1,238,697	1,366,473
Allowance for loan losses - individually evaluated for impairment	1,187	1,325
Allowance for loan losses - collectively evaluated for impairment	11,143	12,824
Total allowance for loan losses	12,330	14,149	11,987	11,265
Retail portfolio | Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans - individually evaluated for impairment	0	0
Loans - collectively evaluated for impairment	190,676	163,077
Total Loans Receivable	190,676	163,077
Allowance for loan losses - individually evaluated for impairment	0	0
Allowance for loan losses - collectively evaluated for impairment	1,580	62
Total allowance for loan losses	$ 1,580	$ 62	$ 764	$ 400

LOANS RECEIVABLE, NET - Sched_7

LOANS RECEIVABLE, NET - Schedule of Activity in Allowance by Portfolio (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				$ 33,847				$ 37,195	$ 33,847	$ 37,195	$ 35,965
Provision for (recovery of) loan losses	$ 4,589	$ 3,394	$ 8,221	8,588	$ 83	$ (558)	$ 2,127	2,186	24,791	3,837	(260)
Charge-offs									(18,233)	(10,629)	(1,202)
Recoveries									1,184	3,444	2,692
Ending Balance	41,589				33,847				41,589	33,847	37,195
Commercial portfolio | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				11,126				16,046	11,126	16,046	15,455
Provision for (recovery of) loan losses									9,175	2,620	570
Charge-offs									(11,293)	(9,236)	(33)
Recoveries									57	1,696	54
Ending Balance	9,065				11,126				9,065	11,126	16,046
Commercial portfolio | Multifamily
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				5,210				4,736	5,210	4,736	5,280
Provision for (recovery of) loan losses									5,114	474	(544)
Charge-offs									0	0	0
Recoveries									0	0	0
Ending Balance	10,324				5,210				10,324	5,210	4,736
Commercial portfolio | Commercial real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				2,492				2,573	2,492	2,573	3,377
Provision for (recovery of) loan losses									7,508	(81)	(804)
Charge-offs									(3,787)	0	0
Recoveries									0	0	0
Ending Balance	6,213				2,492				6,213	2,492	2,573
Commercial portfolio | Construction and land development
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				808				1,089	808	1,089	188
Provision for (recovery of) loan losses									2,238	(281)	901
Charge-offs									(970)	0	0
Recoveries									1	0	0
Ending Balance	2,077				808				2,077	808	1,089
Retail portfolio | Residential real estate lending
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				14,149				11,987	14,149	11,987	11,265
Provision for (recovery of) loan losses									(2,302)	1,251	(950)
Charge-offs									(492)	(683)	(791)
Recoveries									975	1,594	2,463
Ending Balance	12,330				14,149				12,330	14,149	11,987
Retail portfolio | Consumer and other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance				$ 62				$ 764	62	764	400
Provision for (recovery of) loan losses									3,058	(146)	567
Charge-offs									(1,691)	(710)	(378)
Recoveries									151	154	175
Ending Balance	$ 1,580				$ 62				$ 1,580	$ 62	$ 764

LOANS RECEIVABLE, NET - Sched_8

LOANS RECEIVABLE, NET - Schedule of Individually Impaired Loans and Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
Loans without a related allowance - recorded investment	$ 35,441	$ 16,955	$ 4,297
Loans without a related allowance - average recorded investment	26,198	19,970	4,203
Loans without a related allowance - unpaid principal balance	37,125	17,397	5,930
Loans with a related allowance - recorded investment	45,036	48,417	54,052
Loans with a related allowance - average recorded investment	46,727	43,718	51,227
Loans with a related allowance - unpaid principal balance	61,479	56,822	61,166
Total individually impaired loans - recorded investment	80,477	65,372	58,349
Total individually impaired loans - average recorded investment	72,925	63,688	55,430
Total individually impaired loans - unpaid principal balance	98,604	74,219	67,096
Individually impaired loans - related allowance	6,238	7,469	9,554
Commercial portfolio | Multifamily
Financing Receivable, Impaired [Line Items]
Loans with a related allowance - recorded investment	9,575
Loans with a related allowance - average recorded investment	4,788
Loans with a related allowance - unpaid principal balance	9,589
Total individually impaired loans - recorded investment	9,575
Total individually impaired loans - average recorded investment	4,788
Total individually impaired loans - unpaid principal balance	9,589
Individually impaired loans - related allowance	1,933
Commercial portfolio | Construction and land development
Financing Receivable, Impaired [Line Items]
Loans without a related allowance - recorded investment	11,184	3,652
Loans without a related allowance - average recorded investment	7,418	3,652
Loans without a related allowance - unpaid principal balance	12,204	3,702
Total individually impaired loans - recorded investment	11,184	3,652
Total individually impaired loans - average recorded investment	7,418	3,652
Total individually impaired loans - unpaid principal balance	12,204	3,702
Individually impaired loans - related allowance	0	0
Commercial portfolio | Commercial real estate
Financing Receivable, Impaired [Line Items]
Loans without a related allowance - recorded investment	3,433	8,807
Loans without a related allowance - average recorded investment	6,120	11,921
Loans without a related allowance - unpaid principal balance	4,023	9,137
Loans with a related allowance - recorded investment			15,035
Loans with a related allowance - average recorded investment			10,468
Loans with a related allowance - unpaid principal balance			15,096
Total individually impaired loans - recorded investment	3,433	8,807	15,035
Total individually impaired loans - average recorded investment	6,120	11,921	10,468
Total individually impaired loans - unpaid principal balance	4,023	9,137	15,096
Individually impaired loans - related allowance	0	0	0
Commercial portfolio | Commercial and industrial
Financing Receivable, Impaired [Line Items]
Loans with a related allowance - recorded investment	14,706	24,870	12,153
Loans with a related allowance - average recorded investment	19,788	18,512	12,361
Loans with a related allowance - unpaid principal balance	27,210	29,534	16,041
Total individually impaired loans - recorded investment	14,706	24,870	12,153
Total individually impaired loans - average recorded investment	19,788	18,512	12,361
Total individually impaired loans - unpaid principal balance	27,210	29,534	16,041
Individually impaired loans - related allowance	3,118	6,144	8,067
Retail portfolio | Residential real estate lending
Financing Receivable, Impaired [Line Items]
Loans without a related allowance - recorded investment	20,824	4,496	4,297
Loans without a related allowance - average recorded investment	12,660	4,397	4,203
Loans without a related allowance - unpaid principal balance	20,898	4,558	5,930
Loans with a related allowance - recorded investment	20,755	23,547	26,864
Loans with a related allowance - average recorded investment	22,151	25,206	28,398
Loans with a related allowance - unpaid principal balance	24,680	27,288	30,029
Total individually impaired loans - recorded investment	41,579	28,043	31,161
Total individually impaired loans - average recorded investment	34,811	29,603	32,601
Total individually impaired loans - unpaid principal balance	45,578	31,846	35,959
Individually impaired loans - related allowance	$ 1,187	$ 1,325	$ 1,487

PREMISES AND EQUIPMENT - Schedu

PREMISES AND EQUIPMENT - Schedule of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 39,686	$ 47,739
Accumulated depreciation and amortization	(26,709)	(29,961)
Premises and equipment, net	12,977	17,778
Buildings, premises and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	33,280	40,325
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	5,856	7,207
Projects in process
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 550	$ 207

PREMISES AND EQUIPMENT - Narrat

PREMISES AND EQUIPMENT - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)branchOffice	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 6.2	$ 4.6	$ 4.2
Number of branch office closures | branchOffice	8
Accelerated depreciation	$ 2.3

DEPOSITS - Schedule of Deposits

DEPOSITS - Schedule of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amount
Non-interest bearing demand deposit accounts	$ 2,603,274	$ 2,179,247
NOW accounts	205,653	230,919
Money market deposit accounts	1,914,391	1,508,674
Savings accounts	343,368	328,587
Time deposits	272,025	393,555
Deposits	$ 5,338,711	$ 4,640,982
Weighted Average Rate
NOW accounts	0.06%	0.38%
Money market deposit accounts	0.13%	0.37%
Savings accounts	0.12%	0.19%
Time deposits	0.86%	1.29%
Deposits	0.10%	0.26%

DEPOSITS - Schedule of Maturiti

DEPOSITS - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Time Deposits, Fiscal Year Maturity [Abstract]
2021	$ 231,239
2022	24,872
2023	7,364
2024	5,014
2025	2,811
Thereafter	725
Total time deposits	$ 272,025	$ 393,555

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Statistical Disclosure for Banks [Abstract]
Time deposits at or above FDIC limit	$ 31.2	$ 63.1
CDARS deposits	123.8	192
CDARS deposits, average balance	160.1	190.1
Deposits from Workers United and other related entities	95.8	86.9
State and municipal deposits	$ 15.2	$ 100.4

BORROWED FUNDS - Schedule of Bo

BORROWED FUNDS - Schedule of Borrowed Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Federal Home Loan Bank, Advances [Line Items]
Amount	$ 0	$ 75,000
Federal Home Loan Bank Advances
Federal Home Loan Bank, Advances [Line Items]
Amount	$ 0	$ 75,000
Weighted Average Rate	0.00%	1.84%

BORROWED FUNDS - Narrative (Det

BORROWED FUNDS - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other eligible assets pledged as collateral	$ 1,600
Required percentage of pledged assets to FHLBNY of outstanding advances	110.00%
Compromised Securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other eligible assets pledged as collateral	$ 657.5
Mortgage Loans
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other eligible assets pledged as collateral	$ 953.1

BORROWED FUNDS - Interest Expen

BORROWED FUNDS - Interest Expense on Borrowed Funds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Banks [Abstract]
FHLBNY advances	$ 27	$ 4,835	$ 4,646
Fed Funds Purchased	0	21	0
Total interest expense on borrowed funds	$ 27	$ 4,856	$ 4,646

REGULATORY CAPITAL (Details)

REGULATORY CAPITAL (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Actual
Total capital to risk weighted assets, amount, actual	$ 534,684	$ 490,831
Tier I capital to risk weighted assets, amount, actual	491,913	455,668
Tier I capital to average assets, amount, actual	491,913	455,668
Common equity tier I to risk weighted assets, amount, actual	$ 491,913	$ 455,668
Total capital to risk weighted assets, ratio, actual	0.1425	0.1401
Tier I capital to risk weighted assets, ratio, actual	0.1311	0.1301
Tier I capital to average assets, ratio, actual	0.0797	0.0890
Common equity tier I to risk weighted assets, ratio, actual	0.1311	0.1301
For Capital Adequacy Purposes
Total capital to risk weighted assets, amount, capital adequacy	$ 300,199	$ 280,265
Tier I capital to risk weighted assets, amount, capital adequacy	225,149	210,199
Tier I capital to average assets, amount, capital adequacy	246,904	204,852
Common equity tier I to risk weighted assets, amount, capital adequacy	$ 168,862	$ 157,649
Total capital to risk weighted assets, ratio, capital adequacy	0.0800	0.0800
Tier I capital to risk weighted assets, ratio, capital adequacy	0.0600	0.0600
Tier I capital to average assets, ratio, capital adequacy	0.0400	0.0400
Common equity tier I to risk weighted assets, ratio, capital adequacy	0.0450	0.0450
To Be Considered Well Capitalized
Total capital to risk weighted assets, amount, well capitalized	$ 375,249	$ 350,331
Tier I capital to risk weighted assets, amount, well capitalized	300,199	280,265
Tier I capital to average assets, amount, well capitalized	308,630	256,065
Common equity tier I to risk weighted assets, amount, well capitalized	$ 243,912	$ 227,715
Total capital to risk weighted assets, ratio, well capitalized	0.1000	0.1000
Tier I capital to risk weighted assets, ratio, well capitalized	0.0800	0.0800
Tier I capital to average assets, ratio, well capitalized	0.0500	0.0500
Common equity tier I to risk weighted assets, ratio, well capitalized	0.0650	0.0650

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal									$ 15,010	$ 10,656	$ 351
State and local									1,152	1,287	655
Total current									16,162	11,943	1,006
Deferred:
Federal									(3,497)	1,880	8,775
State and local									3,090	3,149	(4,115)
Total deferred									(407)	5,029	4,660
Total income tax provision	$ 4,646	$ 4,259	$ 3,447	$ 3,404	$ 4,445	$ 4,893	$ 3,891	$ 3,743	$ 15,755	$ 16,972	$ 5,666

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Expected Income Tax Expense and Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amount
Tax expense at federal income tax rate									$ 13,008	$ 13,476	$ 10,567
Increase (decrease) resulting from:
Tax exempt income									(862)	(423)	(351)
Change in DTA rate									333	(186)	89
State tax, net of federal benefit									3,551	4,030	2,905
Stock options windfall									(3)	(68)	0
Incremental DTA realization / valuation allowance release									0	0	(7,632)
Other									(272)	143	88
Total income tax provision	$ 4,646	$ 4,259	$ 3,447	$ 3,404	$ 4,445	$ 4,893	$ 3,891	$ 3,743	$ 15,755	$ 16,972	$ 5,666
Percentage
Tax expense at federal income tax rate									21.00%	21.00%	21.00%
Increase (decrease) resulting from:
Tax exempt income									(1.39%)	(0.66%)	(0.70%)
Change in DTA rate									0.54%	(0.29%)	0.18%
State tax, net of federal benefit									5.73%	6.28%	5.77%
Stock options windfall									(0.01%)	(0.11%)	0.00%
Incremental DTA realization / valuation allowance release									0.00%	0.00%	(15.17%)
Other									(0.44%)	0.23%	0.17%
Total									25.43%	26.45%	11.25%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Income tax receivable	$ 23.1	$ 0.8
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3.9
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	74.4
Local
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 53.2

INCOME TAXES - Schedule of Co_2

INCOME TAXES - Schedule of Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Excess tax basis over carrying value of assets:
Allowance for loan losses	$ 16,644	$ 11,157
Nonaccrual interest income	689	499
Postretirement and other employee benefits	436	464
Depreciation and amortization	1,657	1,413
Operating leases	14,515	17,373
Federal, state and local net operating loss carryforward	9,270	12,756
Other, net	2,723	1,160
Gross deferred tax asset	45,934	44,822
Deferred tax liabilities:
Available for sale securities carried at fair value for financial statement purposes	(7,221)	(2,139)
Purchase accounting adjustments, net	(966)	(904)
Operating leases	(9,855)	(13,381)
Gross deferred tax liabilities	(18,042)	(16,424)
Deferred tax asset, net	$ 27,892	$ 28,398

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income attributable to Amalgamated Bank	$ 13,790	$ 12,480	$ 10,374	$ 9,545	$ 12,008	$ 13,195	$ 11,185	$ 10,813	$ 46,188	$ 47,202	$ 44,654
Dividends paid on preferred stock									(22)	(22)	(22)
Income attributable to common stock									$ 46,166	$ 47,180	$ 44,632
Weighted average common shares outstanding, basic (in shares)									31,133	31,733	30,369
Basic earnings per common share (in dollars per share)	$ 0.44	$ 0.40	$ 0.33	$ 0.30	$ 0.38	$ 0.41	$ 0.35	$ 0.34	$ 1.48	$ 1.49	$ 1.47
Incremental shares for assumed conversion of options and RSUs (in shares)									96	472	264
Weighted average common shares outstanding, diluted (in shares)									31,229	32,205	30,633
Diluted earnings per common share (in dollars per share)	$ 0.44	$ 0.40	$ 0.33	$ 0.30	$ 0.37	$ 0.41	$ 0.35	$ 0.33	$ 1.48	$ 1.47	$ 1.46

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)hourplan$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Multi-employer plan, minimum age	21 years
Multi-employer plan, number of hours of service during twelve consecutive month period | hour	1,000
Multi-employer plan, vesting percentage	100.00%
Multi-employer plan, vesting period	5 years
Employer identification number	133177000
Plan number	001
Net actuarial loss and prior service credit expected to be amortized in next fiscal year | $	$ 0.4
Future estimated benefit payments expected next fiscal year | $	0.3
Future estimated benefit payments expected in year two | $	0.3
Future estimated benefit payments expected in year three | $	0.3
Future estimated benefit payments expected in year four | $	0.3
Future estimated benefit payments expected in year five | $	0.3
Future estimated benefit payments expected after year five | $	$ 0.3
Number of retirement savings plans (in plans) | plan	2
Employee contributions, maximum percentage of salary	15.00%
Exercise price of stock options, minimum (in dollars per share) | $ / shares	$ 11
Exercise price of stock options, maximum (in dollars per share) | $ / shares	$ 14.65
Fair value of options outstanding | $	$ 8.4	$ 8.6
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Compensation cost | $	$ 0.7	1.4	$ 2.2
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for stock-based awards (in shares)	1,250,000
Number of shares available for issuance (in shares)	828,717
Restricted Stock Units | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost | $	$ 0.5	0.2
Number of shares granted (in shares)	26,642
Vesting period	1 year
Unrecognized compensation cost | $	$ 0.1
Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost | $	$ 1.2	$ 0.8
Number of shares granted (in shares)	238,716
Fair value of shares granted (in dollars per share) | $ / shares	$ 14.35
Number of shares reserved for issuance (in shares)	276,057
Unvested shares (in shares)	290,637	189,999
Unrecognized compensation cost | $	$ 3.1
Unrecognized compensation cost, period for recognition	2 years 2 months 12 days
Restricted Stock Units | Employee | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	205,963
Restricted Stock Units | Employee | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	333,308
Time-Based Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	164,034
Fair value of shares granted (in dollars per share) | $ / shares	$ 13.78
Vesting period	3 years
Performance Shares | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	74,682
Performance Shares | Employee | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	0
Performance Shares | Employee | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	57,482
Performance-Based Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	38,321
Fair value of shares granted (in dollars per share) | $ / shares	$ 14.45
Vesting period	3 years
Market-Based Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	36,361
Fair value of shares granted (in dollars per share) | $ / shares	$ 15.23
Vesting period	3 years
Market-Based Restricted Stock Units | Employee | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	0
Market-Based Restricted Stock Units | Employee | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of achievable awards (in shares)	54,542

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Employer Contributions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Contributions	$ 6,278	$ 6,254	$ 6,392

EMPLOYEE BENEFIT PLANS - Sche_2

EMPLOYEE BENEFIT PLANS - Schedule of Changes in Benefit Obligations and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in benefit obligation:
Benefit obligation at beginning of year	$ 4,527	$ 4,469
Service cost	0	0	$ 0
Interest cost	118	165	163
Amendments	0	0
Actuarial loss (gain)	(71)	373
Benefits paid	(480)	(480)
Benefit obligation at end of year	4,094	4,527	$ 4,469
Change in plan assets:
Employer contributions	480	480
Benefits paid	(480)	(480)
Plan assets at end of year	0	0
Benefit obligation, included in other liabilities	$ 4,094	$ 4,527

EMPLOYEE BENEFIT PLANS - Amount

EMPLOYEE BENEFIT PLANS - Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amounts recognized in accumulated other comprehensive income (loss)
Net actuarial loss	$ 3,200	$ 3,591	$ 3,436
Prior service credit	(349)	(378)	(406)
Total amount recognized	$ 2,851	$ 3,213	$ 3,030

EMPLOYEE BENEFIT PLANS - Sche_3

EMPLOYEE BENEFIT PLANS - Schedule of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of net periodic benefit cost:
Service cost	$ 0	$ 0	$ 0
Interest cost	118	165	163
Prior service credit amortization	(29)	(29)	(29)
Prior service credit due to curtailments	0	0	0
Recognized actuarial (gain) loss	320	219	288
Net periodic benefit	409	355	422
Components of other amounts:
Net regular actuarial (gain) loss	379	373	(650)
Recognized actuarial gain (loss)	(320)	(219)	(288)
Prior service credit amortization	29	29	29
Prior service credit due to curtailments	(450)	0	0
Prior service credit due to amendment	0	0	0
Total recognized in other comprehensive income	(362)	183	(909)
Total recognized in comprehensive income	$ 47	$ 538	$ (487)

EMPLOYEE BENEFIT PLANS - Sche_4

EMPLOYEE BENEFIT PLANS - Schedule of Assumptions Used to Measure Plans' Benefit Obligation and Net Period Benefit Expense (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average assumptions used to determine benefit obligations:
Discount rate	1.50%	2.77%	3.91%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	3.13%	3.92%	3.16%

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of Options
Outstanding, balance at the beginning of the period (in shares)	2,051,020
Granted (in shares)	0
Forfeited/expired (in shares)	(61,240)
Exercised (in shares)	(11,220)
Outstanding, balance at the end of the period (in shares)	1,978,560	2,051,020
Vested and exercisable (in dollars per share)	$ 12.88
Weighted Average Exercise Price
Outstanding, balance at the beginning of the period (in dollars per share)	13.06
Granted (in dollars per share)	0
Forfeited/expired (in dollars per share)	13.94
Exercised (in dollars per share)	13.75
Outstanding, balance at the end of the period (in dollars per share)	$ 13.03	$ 13.06
Vested and exercisable (in shares)	1,809,932
Other Disclosures
Options outstanding, weighted average remaining contractual term	4 years 2 months 12 days	6 years 7 months 6 days
Options vested and exercisable, weighted average remaining contractual term	4 years 3 months 18 days
Options outstanding, aggregate intrinsic value	$ 1,885
Options exercisable, aggregate intrinsic value	$ 1,885

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock Units - Employee	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares
Unvested at the beginning of the period (in shares) | shares	189,999
Awarded (in shares) | shares	238,716
Forfeited/expired (in shares) | shares	(98,388)
Vested (in shares) | shares	(39,690)
Unvested at the end of the period (in shares) | shares	290,637
Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 17.81
Awarded (in dollars per share) | $ / shares	14.35
Forfeited/expired (in dollars per share) | $ / shares	17.67
Vested (in dollars per share) | $ / shares	17.67
Unvested at the end of the period (in dollars per share) | $ / shares	$ 15.99

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Fair Value of Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	$ 1,539,862	$ 1,224,770
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	1,539,862	1,224,770
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	203	199
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	1,539,659	1,224,571
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE residential certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,299	36,385
GSE residential certificates | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,299	36,385
GSE residential certificates | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE residential certificates | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,299	36,385
GSE residential certificates | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	366,421	282,434
GSE CMOs | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	366,421	282,434
GSE CMOs | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE CMOs | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	366,421	282,434
GSE CMOs | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE commercial certificates & CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	432,614	253,913
GSE commercial certificates & CMO | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	432,614	253,913
GSE commercial certificates & CMO | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
GSE commercial certificates & CMO | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	432,614	253,913
GSE commercial certificates & CMO | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Non-GSE residential certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	33,384	59,008
Non-GSE residential certificates | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	33,384	59,008
Non-GSE residential certificates | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Non-GSE residential certificates | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	33,384	59,008
Non-GSE residential certificates | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Non-GSE commercial certificates
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	44,968	46,874
Non-GSE commercial certificates | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	44,968	46,874
Non-GSE commercial certificates | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Non-GSE commercial certificates | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	44,968	46,874
Non-GSE commercial certificates | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	203	199
U.S. Treasury | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	203	199
U.S. Treasury | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	203	199
U.S. Treasury | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
U.S. Treasury | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
ABS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	597,546	523,777
ABS | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	597,546	523,777
ABS | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
ABS | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	597,546	523,777
ABS | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Trust preferred
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,773	13,897
Trust preferred | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,773	13,897
Trust preferred | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Trust preferred | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	13,773	13,897
Trust preferred | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	37,654	8,283
Corporate | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	37,654	8,283
Corporate | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	0	0
Corporate | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	37,654	8,283
Corporate | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale assets carried at fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Securities Measured on Non-Recurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 67,433	$ 57,903
Other real estate owned	307	809
Total value of assets measured on non-recurring basis	67,740	58,712
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	67,433	57,903
Other real estate owned	303	977
Total value of assets measured on non-recurring basis	67,736	58,880
Level 1 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	0	0
Total value of assets measured on non-recurring basis	0	0
Level 2 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	0	0
Other real estate owned	0	0
Total value of assets measured on non-recurring basis	0	0
Level 3 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	67,433	57,903
Other real estate owned	303	977
Total value of assets measured on non-recurring basis	$ 67,736	$ 58,880

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Resell agreements, weighted average interest rate	1.25%

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Basis and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets:
Available for sale assets carried at fair value	$ 1,539,862	$ 1,224,770
Held to maturity securities	502,425	292,837
Carrying Value
Financial assets:
Cash and cash equivalents	38,769	122,538
Available for sale assets carried at fair value	1,513,409	1,224,770
Held to maturity securities	494,449	292,704
Loans held for sale	11,178	2,328
Loans receivable, net	3,447,306	3,438,767
FHLBNY stock	3,934	7,039
Resell agreements	154,779
Accrued interest and dividends receivable	23,970	19,088
Financial liabilities:
Borrowed funds	0	75,000
Accrued interest payable	386	1,383
Carrying Value | Deposits payable on demand
Financial liabilities:
Deposits	5,066,687	4,247,427
Carrying Value | Time deposits
Financial liabilities:
Deposits	272,025	393,555
Estimated Fair Value
Financial assets:
Cash and cash equivalents	38,769	122,538
Available for sale assets carried at fair value	1,539,862	1,224,770
Held to maturity securities	502,425	292,837
Loans held for sale	11,178	2,328
Loans receivable, net	3,566,742	3,474,296
FHLBNY stock	3,934	7,039
Resell agreements	154,779
Accrued interest and dividends receivable	23,970	19,088
Financial liabilities:
Borrowed funds	0	75,000
Accrued interest payable	386	1,383
Estimated Fair Value | Deposits payable on demand
Financial liabilities:
Deposits	5,066,687	4,247,427
Estimated Fair Value | Time deposits
Financial liabilities:
Deposits	272,451	394,385
Level 1 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	38,769	122,538
Available for sale assets carried at fair value	203	199
Held to maturity securities	0	0
Loans held for sale	0	0
Loans receivable, net	0	0
FHLBNY stock	0	0
Resell agreements
Accrued interest and dividends receivable	0	0
Financial liabilities:
Borrowed funds	0	0
Accrued interest payable	0	0
Level 1 | Estimated Fair Value | Deposits payable on demand
Financial liabilities:
Deposits	0	0
Level 1 | Estimated Fair Value | Time deposits
Financial liabilities:
Deposits	0	0
Level 2 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	0	0
Available for sale assets carried at fair value	1,539,659	1,224,571
Held to maturity securities	76,519	23,132
Loans held for sale	0	0
Loans receivable, net	0	0
FHLBNY stock	3,934	7,039
Resell agreements	0
Accrued interest and dividends receivable	23,970	19,088
Financial liabilities:
Borrowed funds	0	75,000
Accrued interest payable	386	1,383
Level 2 | Estimated Fair Value | Deposits payable on demand
Financial liabilities:
Deposits	5,066,687	4,247,427
Level 2 | Estimated Fair Value | Time deposits
Financial liabilities:
Deposits	272,451	394,385
Level 3 | Estimated Fair Value
Financial assets:
Cash and cash equivalents	0	0
Available for sale assets carried at fair value	0	0
Held to maturity securities	425,906	269,705
Loans held for sale	11,178	2,328
Loans receivable, net	3,566,742	3,474,296
FHLBNY stock		0
Resell agreements	154,779
Accrued interest and dividends receivable	0	0
Financial liabilities:
Borrowed funds	0	0
Accrued interest payable	0	0
Level 3 | Estimated Fair Value | Deposits payable on demand
Financial liabilities:
Deposits	0	0
Level 3 | Estimated Fair Value | Time deposits
Financial liabilities:
Deposits	$ 0	$ 0

COMMITMENTS, CONTINGENCIES AN_3

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK - Schedule of Financial Instruments Outstanding Representing Credit Risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 473,451	$ 582,286
Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	455,541	567,117
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 17,910	$ 15,169

COMMITMENTS, CONTINGENCIES AN_4

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Reserve for credit risk inherent in off balance sheet credit commitments	$ 1.2	$ 1.3
Deposits required to be maintained with Federal Reserve Bank of New York	9.1
Deposit balance with Federal Reserve Bank of New York	$ 30.7	$ 114.8

LEASES - Lease Cost and Other I

LEASES - Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 15,256	$ 10,572
Cash paid for amounts included in the measurement of Operating leases liability	$ 12,358	$ 10,776
Weighted average remaining lease term on operating leases (in years)	5 years 8 months 12 days	6 years 6 months
Weighted average discount rate used for operating leases liability	3.27%	3.25%

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Leases [Abstract]
Rent expense	$ 10.8

LEASES - Remaining Commitments

LEASES - Remaining Commitments of Operating Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 9,806
2022	9,931
2023	9,818
2024	9,828
2025	9,851
Thereafter	8,912
Total undiscounted operating lease payments	58,146
Less: present value adjustment	4,973
Total Operating leases liability	$ 53,173	$ 62,404

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	May 18, 2018
Goodwill [Line Items]
Goodwill	$ 12,936	$ 12,936
Accumulated amortization of intangible assets	$ 3,700
New Resource Bank
Goodwill [Line Items]
Goodwill			$ 12,900
Intangible assets acquired			$ 9,100

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2020USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	$ 1,207
2022	1,047
2023	888
2024	730
2025	574
Thereafter	913
Total	$ 5,359

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Maximum exposure to credit loss	$ 17,800
Unconsolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Tax credit investments included in equity investments	6,735	$ 0
Unfunded tax credit commitments included in other liabilities	0	0
Loans and letters of credit commitments	11,097	0
Funded portion of loans and letters of credit commitments	11,097	0
Tax credits and other tax benefits recognized	$ 23,993	$ 0

QUARTERLY FINANCIAL DATA (UNA_3

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 47,462	$ 47,283	$ 47,120	$ 48,631	$ 46,955	$ 46,697	$ 46,528	$ 45,774	$ 190,495	$ 185,954	$ 163,964
Interest expense	1,807	2,049	2,681	3,942	4,705	4,940	4,672	5,001	10,479	19,317	14,219
NET INTEREST INCOME	45,655	45,234	44,439	44,689	42,250	41,757	41,856	40,773	180,016	166,637	149,745
Provision (release) for loan losses	4,589	3,394	8,221	8,588	83	(558)	2,127	2,186	24,791	3,837	(260)
Net interest income after provision for loan losses	41,066	41,840	36,218	36,101	42,167	42,315	39,729	38,587	155,225	162,800	150,005
Non-interest income	10,040	12,776	8,671	9,118	7,776	7,659	6,349	7,417	40,604	29,201	28,318
Non-interest expense	32,670	37,877	31,068	32,270	33,490	31,886	31,002	31,448	133,886	127,827	128,003
Income before income taxes	18,436	16,739	13,821	12,949	16,453	18,088	15,076	14,556	61,943	64,174	50,320
Provision for income taxes	4,646	4,259	3,447	3,404	4,445	4,893	3,891	3,743	15,755	16,972	5,666
Net income	$ 13,790	$ 12,480	$ 10,374	$ 9,545	$ 12,008	$ 13,195	$ 11,185	$ 10,813	$ 46,188	$ 47,202	$ 44,654
Basic earnings per share (in dollars per share)	$ 0.44	$ 0.40	$ 0.33	$ 0.30	$ 0.38	$ 0.41	$ 0.35	$ 0.34	$ 1.48	$ 1.49	$ 1.47
Diluted earnings per share (in dollars per share)	$ 0.44	$ 0.40	$ 0.33	$ 0.30	$ 0.37	$ 0.41	$ 0.35	$ 0.33	$ 1.48	$ 1.47	$ 1.46