Amalgamated Financial (AMAL) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		30,643,596
Entity Central Index Key	0001823608
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 4,081	$ 2,856
Interest-bearing deposits in banks	53,912	87,714
Total cash and cash equivalents	57,993	90,570
Securities:
Available for sale, at fair value	1,694,261	1,483,042
Held-to-maturity, at amortized cost	1,660,582	1,696,834
Loans held for sale	1,926	1,817
Loans receivable, net of deferred loan origination costs	4,471,839	4,411,319
Allowance for credit losses	(63,444)	(65,691)
Loans receivable, net	4,408,395	4,345,628
Resell agreements	137,461	50,000
Federal Home Loan Bank of New York ("FHLBNY") stock, at cost	4,823	4,389
Accrued interest receivable	52,575	55,484
Premises and equipment, net	6,599	7,807
Bank-owned life insurance	106,752	105,528
Right-of-use lease asset	17,971	21,074
Deferred tax asset, net	47,654	56,603
Goodwill	12,936	12,936
Intangible assets, net	1,852	2,217
Equity method investments	12,710	13,024
Other assets	26,214	25,371
Total assets	8,250,704	7,972,324
Liabilities
Deposits	7,448,988	7,011,988
Subordinated debt, net	68,117	70,546
Other borrowings	9,135	234,381
Operating leases	24,784	30,646
Other liabilities	53,568	39,399
Total liabilities	7,604,592	7,386,960
Stockholders’ equity
Common stock, par value $0.01 per share (70,000,000 shares authorized; 30,743,666 and 30,736,141 shares issued, respectively, and 30,630,386 and 30,428,359 shares outstanding, respectively)	307	307
Additional paid-in capital	286,021	288,232
Retained earnings	435,202	388,033
Accumulated other comprehensive loss, net of income taxes	(73,579)	(86,004)
Treasury stock, at cost (113,280 and 307,782 shares, respectively)	(1,972)	(5,337)
Total Amalgamated Financial Corp. stockholders' equity	645,979	585,231
Noncontrolling interests	133	133
Total stockholders' equity	646,112	585,364
Total liabilities and stockholders’ equity	8,250,704	7,972,324
Traditional securities
Securities:
Available for sale, at fair value	1,581,338	1,429,739
Held-to-maturity, at amortized cost	606,013	620,232
Property Assessed Clean Energy ("PACE") assessments
Securities:
Available for sale, at fair value	112,923	53,303
Held-to-maturity, at amortized cost	$ 1,054,569	$ 1,076,602

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Held-to-maturity, allowance for credit losses	$ 708	$ 721
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	30,743,666	30,736,141
Common stock, shares outstanding (in shares)	30,630,386	30,428,359
Treasury stock, cost (in shares)	113,280	307,782
Traditional securities
Held-to-maturity, allowance for credit losses	$ 53	$ 54
Property Assessed Clean Energy ("PACE") assessments
Held-to-maturity, allowance for credit losses	$ 655	$ 667

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INTEREST AND DIVIDEND INCOME
Loans	$ 51,293	$ 45,360	$ 103,245	$ 90,166
Securities	44,978	39,506	87,368	79,018
Interest-bearing deposits in banks	2,690	1,056	5,282	1,673
Total interest and dividend income	98,961	85,922	195,895	170,857
INTEREST EXPENSE
Deposits	28,882	18,816	54,773	32,651
Borrowed funds	887	4,121	3,893	7,942
Total interest expense	29,769	22,937	58,666	40,593
NET INTEREST INCOME	69,192	62,985	137,229	130,264
Provision for credit losses	3,161	3,940	4,749	8,899
Net interest income after provision for credit losses	66,031	59,045	132,480	121,365
NON-INTEREST INCOME
Trust Department fees	3,657	4,006	7,511	7,935
Service charges on deposit accounts	8,614	2,712	14,750	5,166
Bank-owned life insurance income	615	546	1,224	1,327
Losses on sale of securities	(2,691)	(267)	(5,465)	(3,353)
Gains on sale of loans, net	69	2	116	4
Equity method investments income (loss)	(1,551)	556	521	711
Other income	545	389	830	1,360
Total non-interest income	9,258	7,944	19,487	13,150
NON-INTEREST EXPENSE
Compensation and employee benefits	23,045	21,165	45,318	43,180
Occupancy and depreciation	3,379	3,436	6,283	6,835
Professional fees	2,332	2,759	4,708	4,989
Data processing	4,786	4,082	9,415	8,631
Office maintenance and depreciation	580	718	1,243	1,445
Amortization of intangible assets	182	222	365	444
Advertising and promotion	1,175	1,028	2,394	2,615
Federal deposit insurance premiums	1,050	1,100	2,100	1,818
Other expense	2,983	3,019	5,838	6,199
Total non-interest expense	39,512	37,529	77,664	76,156
Income before income taxes	35,777	29,460	74,303	58,359
Income tax expense	9,024	7,818	20,301	15,383
Net income	$ 26,753	$ 21,642	$ 54,002	$ 42,976
Earnings per common share - basic (in dollars per share)	$ 0.88	$ 0.71	$ 1.77	$ 1.40
Earnings per common share - diluted (in dollars per share)	$ 0.87	$ 0.70	$ 1.75	$ 1.39

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 26,753	$ 21,642	$ 54,002	$ 42,976
Other comprehensive income (loss):
Change in total obligation for postretirement benefits, prior service credit, and other benefits	44	49	87	97
Net unrealized gains (losses) on securities:
Unrealized holding gains (losses) on securities available for sale	3,960	(11,681)	10,362	418
Reclassification adjustment for losses realized in income	2,691	267	5,465	3,353
Accretion of net unrealized loss on securities transferred to held-to-maturity	597	466	1,192	954
Net unrealized gains (losses) on securities	7,248	(10,948)	17,019	4,725
Net unrealized gains (losses) on cash flow hedges:
Unrealized holding gains (losses) on cash flow hedges	(44)	0	(44)	0
Reclassification adjustment for losses (gains) realized in income	33	0	33	0
Net unrealized gains (losses) on cash flow hedges	(11)	0	(11)	0
Other comprehensive income (loss), before tax	7,281	(10,899)	17,095	4,822
Income tax benefit (expense)	(1,988)	3,002	(4,670)	(1,329)
Total other comprehensive income (loss), net of taxes	5,293	(7,897)	12,425	3,493
Total comprehensive income, net of taxes	$ 32,046	$ 13,745	$ 66,427	$ 46,469

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (unaudited) - USD ($) $ in Thousands	Total	Cumulative effect of adoption of ASU No. 2016-13	Balance at January 1, 2023 adjusted for change in accounting	Total Amalgamated Financial Corp. Stockholders' Equity	Total Amalgamated Financial Corp. Stockholders' Equity Cumulative effect of adoption of ASU No. 2016-13	Total Amalgamated Financial Corp. Stockholders' Equity Balance at January 1, 2023 adjusted for change in accounting	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative effect of adoption of ASU No. 2016-13	Retained Earnings Balance at January 1, 2023 adjusted for change in accounting	Accumulated Other Comprehensive Loss, net of income taxes	Treasury Stock, at cost	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022							30,700,198
Beginning balance at Dec. 31, 2022	$ 508,955	$ (17,825)	$ 491,130	$ 508,822	$ (17,825)	$ 490,997	$ 307	$ 286,947	$ 330,275	$ (17,825)	$ 312,450	$ (108,707)	$ 0	$ 133
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	42,976			42,976					42,976
Repurchase of common stock (in shares)							(267,765)
Repurchase of common stock	(4,582)			(4,582)									(4,582)
Common stock issued under Employee Stock Purchase Plan (in shares)							29,754
Common stock issued under Employee Stock Purchase Plan	514			514				(28)					542
Dividends on common stock	(6,222)			(6,222)					(6,222)
Exercise of stock options, net of repurchases (in shares)							6,631
Exercise of stock options, net of repurchases	(91)			(91)				(91)
Restricted stock units vesting, net of repurchases (in shares)							103,788
Restricted stock units vesting, net of repurchases	(844)			(844)				(2,191)					1,347
Stock-based compensation expense	2,240			2,240				2,240
Other comprehensive income (loss), net of taxes	3,493			3,493								3,493
Ending balance (in shares) at Jun. 30, 2023							30,572,606
Ending balance at Jun. 30, 2023	528,614			528,481			$ 307	286,877	349,204			(105,214)	(2,693)	133
Beginning balance (in shares) at Mar. 31, 2023							30,642,299
Beginning balance at Mar. 31, 2023	519,158			519,025			$ 307	287,514	330,673			(97,317)	(2,152)	133
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,642			21,642					21,642
Repurchase of common stock (in shares)							(138,962)
Repurchase of common stock	(2,157)			(2,157)									(2,157)
Common stock issued under Employee Stock Purchase Plan (in shares)							7,835
Common stock issued under Employee Stock Purchase Plan	126			126				(3)					129
Dividends on common stock	(3,111)			(3,111)					(3,111)
Restricted stock units vesting, net of repurchases (in shares)							61,434
Restricted stock units vesting, net of repurchases	(350)			(350)				(1,837)					1,487
Stock-based compensation expense	1,203			1,203				1,203
Other comprehensive income (loss), net of taxes	(7,897)			(7,897)								(7,897)
Ending balance (in shares) at Jun. 30, 2023							30,572,606
Ending balance at Jun. 30, 2023	$ 528,614			528,481			$ 307	286,877	349,204			(105,214)	(2,693)	133
Beginning balance (in shares) at Dec. 31, 2023	30,428,359						30,428,359
Beginning balance at Dec. 31, 2023	$ 585,364			585,231			$ 307	288,232	388,033			(86,004)	(5,337)	133
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	54,002			54,002					54,002
Repurchase of common stock (in shares)							(10,000)
Repurchase of common stock	(285)			(285)									(285)
Common stock issued under Employee Stock Purchase Plan (in shares)							17,700
Common stock issued under Employee Stock Purchase Plan	450			450				266					184
Dividends on common stock	$ (6,833)			(6,833)					(6,833)
Exercise of stock options, net of repurchases (in shares)	153,680						67,921
Exercise of stock options, net of repurchases	$ (252)			(252)				(1,467)					1,215
Restricted stock units vesting, net of repurchases (in shares)							126,406
Restricted stock units vesting, net of repurchases	(1,358)			(1,358)				(3,609)					2,251
Stock-based compensation expense	2,599			2,599				2,599
Other comprehensive income (loss), net of taxes	$ 12,425			12,425								12,425
Ending balance (in shares) at Jun. 30, 2024	30,630,386						30,630,386
Ending balance at Jun. 30, 2024	$ 646,112			645,979			$ 307	286,021	435,202			(73,579)	(1,972)	133
Beginning balance (in shares) at Mar. 31, 2024							30,510,393
Beginning balance at Mar. 31, 2024	616,938			616,805			$ 307	287,198	412,190			(78,872)	(4,018)	133
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,753			26,753					26,753
Common stock issued under Employee Stock Purchase Plan (in shares)							7,525
Common stock issued under Employee Stock Purchase Plan	206			206				206
Dividends on common stock	(3,741)			(3,741)					(3,741)
Exercise of stock options, net of repurchases (in shares)							43,381
Exercise of stock options, net of repurchases	(252)			(252)				(1,041)					789
Restricted stock units vesting, net of repurchases (in shares)							69,087
Restricted stock units vesting, net of repurchases	(603)			(603)				(1,860)					1,257
Stock-based compensation expense	1,518			1,518				1,518
Other comprehensive income (loss), net of taxes	$ 5,293			5,293								5,293
Ending balance (in shares) at Jun. 30, 2024	30,630,386						30,630,386
Ending balance at Jun. 30, 2024	$ 646,112			$ 645,979			$ 307	$ 286,021	$ 435,202			$ (73,579)	$ (1,972)	$ 133

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.12	$ 0.10	$ 0.22	$ 0.20

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 54,002	$ 42,976
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,660	1,766
Amortization of intangible assets	365	444
Deferred income tax expense	4,279	5,339
Provision for credit losses	4,749	8,899
Stock-based compensation expense	2,599	2,240
Net amortization on loan fees, costs, premiums, and discounts	819	224
Net amortization on securities premiums, discounts, and deferred costs on subordinated debt	135	789
Net income from equity method investments	(521)	(711)
Net loss on sale of securities available for sale	5,465	3,353
Net gain on sale of loans	(116)	(4)
Net gain on redemption of bank-owned life insurance	0	(225)
Proceeds from sales of loans held for sale	10,791	10,621
Originations of loans held for sale	(10,784)	(9,242)
Increase in cash surrender value of bank-owned life insurance	(1,224)	(1,102)
Net gain on repurchase of subordinated debt	(406)	(780)
Decrease (increase) in accrued interest receivable	2,909	(2,663)
Decrease in other assets	2,809	5,276
Decrease in other liabilities	(18,251)	(5,087)
Net cash provided by operating activities	59,280	62,113
CASH FLOWS FROM INVESTING ACTIVITIES
Net increase in loans	(66,241)	(147,407)
Purchase of securities available for sale	(515,673)	(40,169)
Purchase of securities held-to-maturity	(52,779)	(155,502)
Proceeds from sales of securities available for sale	219,170	174,537
Maturities, principal payments and redemptions of securities available for sale	119,755	82,988
Maturities, principal payments and redemptions of securities held-to-maturity	90,063	41,781
Decrease (increase) in resell agreements	(87,461)	25,754
Decrease (increase) in equity method investments	835	(2,641)
Decrease (increase) in FHLBNY stock, net	(434)	25,415
Purchases of premises and equipment, net	(452)	(843)
Proceeds from redemption of bank-owned life insurance	0	980
Net cash (used in) provided by investing activities	(293,217)	4,893
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits	437,000	299,614
Net decrease in other borrowings	(225,246)	(350,000)
Repurchase of subordinated debt	(2,094)	(3,220)
Common stock issued under Employee Stock Purchase Plan	450	514
Repurchase of common stock	(285)	(4,582)
Dividends paid	(6,855)	(6,222)
Payments related to repurchase of common stock for equity awards	(1,610)	(935)
Net cash provided by (used in) financing activities	201,360	(64,831)
Increase (decrease) in cash, cash equivalents, and restricted cash	(32,577)	2,175
Cash, cash equivalents, and restricted cash at beginning of year	90,570	63,540
Cash, cash equivalents, and restricted cash at end period	57,993	65,715
Supplemental disclosures of cash flow information:
Interest paid during the period	67,462	36,150
Income taxes paid during the period	16,134	3,344
Right-of-use assets obtained in exchange for lease liabilities	560	0
Loans transferred from held-for-sale	0	4,664
Loans transferred to held-for-sale	0	2,381
Purchase of securities available for sale, net not settled	$ 24,000	$ 0

BASIS OF PRESENTATION AND CONSO

BASIS OF PRESENTATION AND CONSOLIDATION	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND CONSOLIDATION	BASIS OF PRESENTATION AND CONSOLIDATION Basis of Accounting and Changes in Significant Accounting Policies In this discussion, unless the context indicates otherwise, references to “we,” “us,” “our” and the “Company” refer to Amalgamated Financial Corp. and Amalgamated Bank. References to the “Bank” refer to Amalgamated Bank. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, or GAAP and predominant practices within the banking industry. The Company uses the accrual basis of accounting for financial statement purposes. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The annualized results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant inter-company transactions and balances are eliminated in consolidation. In the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial position and the results of operations as of the dates and for the interim periods presented have been included. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes appearing in the Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”). A more detailed description of our accounting policies is included in the 2023 Annual Report, which remain significantly unchanged except for the addition of accounting policies related to derivatives: Derivatives - The Company’s derivative instruments are carried at fair value in the Company’s financial statements as part of Other assets for derivatives with positive fair values and Other liabilities for derivatives with negative fair values. The accounting for changes in the fair value of a derivative instrument is dependent upon whether or not it qualifies and has been designated as a hedge for accounting purposes, and further, by the type of hedging relationship. At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation. For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For cash flow hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. When hedge accounting is discontinued on a fair value hedge that no longer qualifies as an effective hedge, the derivative continues to be reported at fair value in the statement of condition, but the carrying amount of the hedged item is no longer adjusted for future changes in fair value. The adjustment to the carrying amount of the hedged item that existed at the date hedge accounting is discontinued is amortized over the remaining life of the hedged item into earnings. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the statement of condition or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. There have been no other significant changes to our accounting policies, or the estimates made pursuant to those policies as described in our 2023 Annual Report. Recently Adopted Accounting Standards ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments The Company adopted ASU No. 2016-13 on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the adoption date and, accordingly, the Company recorded a net of tax decrease of $17.8 million to retained earnings as of January 1, 2023. The below table illustrates the impact of the adoption of ASU 2016-13. January 1, 2023 Gross Adjustment Tax Impact Net Adjustment to Retained Earnings Assets: Allowance for credit losses on held-to-maturity securities $ 668 $ (184) $ 484 Allowance for credit losses on loans 21,229 (5,849) 15,380 Liabilities: Allowance for credit losses on off-balance sheet credit exposures 2,705 (744) 1,961 Total Day 1 Adjustment for Adoption of ASU 2016-13 $ 24,602 $ (6,777) $ 17,825 Reclassifications

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following is a summary of the accumulated comprehensive income (loss) balances, net of income taxes: Balance as of January 1, 2024 Current Income Tax Balance as of June 30, 2024 (In thousands) Total unrealized gains (losses) on Benefit Plans $ (1,481) $ 87 $ (23) $ (1,417) Unrealized gains (losses) on available for sale securities (74,348) 15,827 (4,323) (62,844) Unaccreted unrealized loss on securities transferred to held-to-maturity (10,175) 1,192 (327) (9,310) Unrealized gains (losses) on cash flow hedges — (11) 3 (8) Total $ (86,004) $ 17,095 $ (4,670) $ (73,579) Balance as of January 1, 2023 Current Income Tax Balance as of June 30, 2023 (In thousands) Total unrealized gains (losses) on Benefit Plans $ (1,652) $ 97 $ (27) $ (1,582) Unrealized gains (losses) on available for sale securities (95,539) 3,771 $ (1,039) $ (92,807) Unaccreted unrealized loss on securities transferred to held-to-maturity (11,516) 954 (263) $ (10,825) Unrealized gains (losses) on cash flow hedges — — — — Total $ (108,707) $ 4,822 $ (1,329) $ (105,214) Other comprehensive income (loss) components and related income tax effects were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (In thousands) Postretirement Benefit Plans Change in obligation for postretirement benefits and for prior service credit $ 37 $ 40 $ 73 $ 80 Reclassification adjustment for prior service expense included in compensation and employee benefits 7 7 14 14 Change in obligation for other benefits — 2 — $ 3 Change in total obligation for postretirement benefits and for prior service credit and for other benefits 44 49 87 97 Income tax expense (12) (14) (23) (27) Net change in total obligation for postretirement benefits and prior service credit and for other benefits 32 35 64 70 Securities Unrealized holding gains (losses) on available for sale securities 3,960 (11,681) 10,362 418 Reclassification adjustment for losses realized in loss on sale of securities 2,691 267 5,465 3,353 Accretion of net unrealized loss on securities transferred to held-to-maturity 597 466 1,192 954 Change in unrealized gains (losses) on available for sale securities 7,248 (10,948) 17,019 4,725 Income tax benefit (expense) (1,979) 3,016 (4,650) (1,302) Net change in unrealized gains (losses) on securities 5,269 (7,932) 12,369 3,423 Derivatives Unrealized holding gains (losses) on cash flow hedges (44) — (44) — Reclassification adjustment for losses (gains) realized in income 33 — 33 — Change in unrealized gains (losses) on cash flow hedges (11) — (11) — Income tax benefit 3 — 3 — Net change in unrealized gains (losses) on cash flow hedges (8) — (8) — Total $ 5,293 $ (7,897) $ 12,425 $ 3,493

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 are as follows: June 30, 2024 (In thousands) Amortized Gross Gross Fair Available for sale: Traditional securities: Government sponsored entities ("GSE") residential CMOs ("collateralized mortgage obligations") $ 632,026 $ 1,509 $ (36,049) $ 597,486 Non-GSE certificates & CMOs 214,726 62 (20,206) 194,582 ABS 691,477 1,150 (15,846) 676,781 Corporate 125,503 — (16,934) 108,569 Other 4,197 — (277) 3,920 1,667,929 2,721 (89,312) 1,581,338 PACE assessments: Residential PACE assessments 112,799 124 — 112,923 Total available for sale $ 1,780,728 $ 2,845 $ (89,312) $ 1,694,261 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 191,359 $ 908 $ (19,940) $ 172,327 Non-GSE certificates & CMOs 75,979 — (6,871) 69,108 ABS 272,508 546 (6,489) 266,565 Municipal 66,220 141 (11,287) 55,074 606,066 1,595 (44,587) 563,074 PACE assessments: Commercial PACE assessments 256,663 — (34,409) 222,254 Residential PACE assessments 798,561 — (83,682) 714,879 1,055,224 — (118,091) 937,133 Total held-to-maturity $ 1,661,290 $ 1,595 $ (162,678) $ 1,500,207 Allowance for credit losses (708) Total held-to-maturity, net of allowance for credit losses $ 1,660,582 As of June 30, 2024, available for sale securities with a fair value of $1.32 billion and held-to-maturity securities with a fair value of $535.4 million were pledged. The majority of the securities were pledged to the FHLBNY 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 Bank 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, 2023 are as follows: December 31, 2023 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Traditional securities: GSE residential CMOs $ 521,101 $ 59 $ (40,545) $ 480,615 Non-GSE certificates & CMOs 218,550 — (21,690) 196,860 ABS 648,585 40 (20,990) 627,635 Corporate 140,038 — (19,297) 120,741 Other 4,197 — (309) 3,888 1,532,471 99 (102,831) 1,429,739 PACE assessments: Residential PACE assessments 52,863 440 — 53,303 Total available for sale $ 1,585,334 $ 539 $ (102,831) $ 1,483,042 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 194,329 $ 1,099 $ (19,693) $ 175,735 Non-GSE certificates & CMOs 79,406 9 (6,686) 72,729 ABS 279,916 23 (8,678) 271,261 Municipal 66,635 165 (11,107) 55,693 620,286 1,296 (46,164) 575,418 PACE assessments: Commercial PACE assessments 258,306 — (29,211) 229,095 Residential PACE assessments 818,963 — (73,967) 744,996 1,077,269 — (103,178) 974,091 Total held-to-maturity $ 1,697,555 $ 1,296 $ (149,342) $ 1,549,509 Allowance for credit losses (721) Total held-to-maturity, net of allowance for credit losses $ 1,696,834 There were no transfers to or from securities held-to-maturity during the three or six months ended June 30, 2024, or the three or six months ended June 30, 2023. The following table 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 June 30, 2024. 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 Amortized Fair Value Amortized Fair Value (In thousands) Due within one year $ 3,000 $ 2,968 $ — $ — Due after one year through five years 71,760 67,885 9,448 9,134 Due after five years through ten years 270,856 257,783 161,422 161,263 Due after ten years 588,360 573,557 1,223,082 1,088,375 $ 933,976 $ 902,193 $ 1,393,952 $ 1,258,772 Three Months Ended, Six Months Ended, June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (In thousands) Proceeds $ 140,343 $ 29,232 $ 219,170 $ 174,537 Realized gains $ 4 $ — $ 4 $ — Realized losses (2,695) (267) (5,469) (3,353) Net realized losses $ (2,691) $ (267) $ (5,465) $ (3,353) There were no sales of held-to-maturity securities during the three or six months ended June 30, 2024 or the three months or six ended June 30, 2023. The Company controls and monitors inherent credit risk in its securities portfolio through due diligence, diversification, concentration limits, periodic securities reviews, and by investing in low risk securities. This includes high quality Non-Agency Securities, low loan-to-value ("LTV") PACE assessments and a significant portion of the securities portfolio in 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 CMOs. At June 30, 2024 and June 30, 2023, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity. The following summarizes the fair value and unrealized losses for available for sale securities as of June 30, 2024 and December 31, 2023, respectively, 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: June 30, 2024 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for sale: Traditional securities: GSE certificates & CMOs $ 135,942 $ 7,926 $ 275,372 $ 28,123 $ 411,314 $ 36,049 Non-GSE certificates & CMOs 11,587 463 171,965 19,743 183,552 20,206 ABS 58,021 531 233,711 15,315 291,732 15,846 Corporate 10,698 799 97,871 16,135 108,569 16,934 Other 198 2 3,722 275 3,920 277 Total available for sale $ 216,446 $ 9,721 $ 782,641 $ 79,591 $ 999,087 $ 89,312 December 31, 2023 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for sale: Traditional securities: GSE certificates & CMOs $ — $ — $ 460,239 $ 40,545 $ 460,239 $ 40,545 Non-GSE certificates & CMOs — — 196,860 21,690 196,860 21,690 ABS 53,133 122 526,868 20,868 580,001 20,990 Corporate — — 120,741 19,297 120,741 19,297 Other — — 3,888 309 3,888 309 Total available for sale $ 53,133 $ 122 $ 1,308,596 $ 102,709 $ 1,361,729 $ 102,831 Available for sale securities As discussed in Note 1, upon adoption of the Current Expected Credit Losses ("CECL") standard, no allowance for credit losses was recorded on available for sale securities. During the three and six months ended June 30, 2023, the Company charged-off an unrealized loss position of $1.2 million related to a corporate bond related to Silicon Valley Bank following credit concerns over the issuer, and the sale of the security resulted in an immaterial additional loss. As of June 30, 2024, none of the Company’s available-for-sale debt securities were in an unrealized loss position due to credit quality and therefore no allowance for credit losses on available-for-sale debt securities was required. The temporary impairment of fixed income securities is primarily attributable to changes in overall market interest rates and/or changes in credit/liquidity spreads since the investments were acquired. In general, as market interest rates rise and/or credit/liquidity 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. With respect to the Company’s security investments that are temporarily impaired as of June 30, 2024, management does not intend to sell these investments and does not believe it will be necessary to do so before anticipated recovery. If either criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. The Company expects to collect all amounts due according to the contractual terms of these investments. Therefore, the Company does not hold an allowance for credit losses for available for sale securities at June 30, 2024. Held-to-maturity securities Management conducts an evaluation of expected credit losses on held-to-maturity securities on a collective basis by security type. Management monitors the credit quality of debt securities held-to-maturity through reasonable and supportable forecasts, reviews of credit trends on underlying assets, credit ratings, and other factors. Holdings of securities issued by GSEs with unrealized losses are either explicitly or implicitly guaranteed by the U.S. government, and are highly rated by major rating agencies and have a long history of no credit losses. With the exception of PACE assessments, which are generally not rated, these securities were rated investment grade by at least one nationally recognized statistical rating organization with no ratings below investment grade. All issues were current as to their interest payments. There have been no significant losses on PACE assessments that we have invested in given the low loan-to-value position and the superior lien position on the property. Management considers that the temporary impairment of these investments as of June 30, 2024 is primarily due to an increase in interest rates and spreads since the time these investments were acquired. Accrued interest receivable on securities The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2024: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 53 $ 256 $ 401 $ 710 Provision for (recovery of) credit losses — — (2) (2) Charge-offs — — — — Recoveries — — — — Ending balance $ 53 $ 256 $ 399 $ 708 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2023: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 58 $ 262 $ 367 $ 687 Provision for (recovery of) credit losses (1) — 21 20 Charge-offs — — — — Recoveries — — — — Ending balance $ 57 $ 262 $ 388 $ 707 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2024: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 54 $ 258 $ 409 $ 721 Recovery of credit losses (1) (2) (10) (13) Charge-offs — — — — Recoveries — — — — Ending balance $ 53 $ 256 $ 399 $ 708 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2023: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ — $ — $ — $ — Adoption of ASU No. 2016-13 85 255 328 668 Provision for (recovery of) credit losses (2) 7 60 65 Charge-offs (26) — — (26) Recoveries — — — — Ending balance $ 57 $ 262 $ 388 $ 707

LOANS RECEIVABLE, NET

LOANS RECEIVABLE, NET	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
LOANS RECEIVABLE, NET	LOANS RECEIVABLE, NET Loans receivable are summarized as follows: June 30, December 31, (In thousands) Commercial and industrial $ 1,012,400 $ 1,010,998 Multifamily 1,230,545 1,148,120 Commercial real estate 377,484 353,432 Construction and land development 23,254 23,626 Total commercial portfolio 2,643,683 2,536,176 Residential real estate lending 1,404,624 1,425,596 Consumer solar 385,567 408,260 Consumer and other 37,965 41,287 Total retail portfolio 1,828,156 1,875,143 Total loans receivable 4,471,839 4,411,319 Allowance for credit losses (63,444) (65,691) Total loans receivable, net $ 4,408,395 $ 4,345,628 Included in commercial and industrial loans are government guaranteed loans with a balance of $202.4 million at June 30, 2024 and $225.6 million at December 31, 2023. Due to these loans being fully guaranteed by the United States government, no allowance for credit losses is recorded in relation to these loans at June 30, 2024 and December 31, 2023. The following table presents information regarding the past due status of the Company’s loans as of June 30, 2024: 30-59 Days Past Due 60-89 Days Past Due Non- 90 Days or Total Past Due and Non-Accrual Current Total Loans (In thousands) Commercial and industrial $ 808 $ 200 $ 8,428 $ — $ 9,436 $ 1,002,964 $ 1,012,400 Multifamily — — — — — 1,230,545 1,230,545 Commercial real estate — — 4,231 — 4,231 373,253 377,484 Construction and land development — — 11,119 — 11,119 12,135 23,254 Total commercial portfolio 808 200 23,778 — 24,786 2,618,897 2,643,683 Residential real estate lending 3,671 1,470 7,756 — 12,897 1,391,727 1,404,624 Consumer solar 2,643 1,234 2,794 — 6,671 378,896 385,567 Consumer and other 428 444 374 — 1,246 36,719 37,965 Total retail portfolio 6,742 3,148 10,924 — 20,814 1,807,342 1,828,156 $ 7,550 $ 3,348 $ 34,702 $ — $ 45,600 $ 4,426,239 $ 4,471,839 The following table presents information regarding the past due status of the Company’s loans as of December 31, 2023: 30-59 Days Past Due 60-89 Days Past Due Non- 90 Days or Total Past Due and Non-Accrual Current Total Loans (In thousands) Commercial and industrial $ 266 $ 168 $ 7,533 $ — $ 7,967 $ 1,003,031 $ 1,010,998 Multifamily 11,968 — — — 11,968 1,136,152 1,148,120 Commercial real estate — — 4,490 — 4,490 348,942 353,432 Construction and land development 5,199 — 11,166 — 16,365 7,261 23,626 Total commercial portfolio 17,433 168 23,189 — 40,790 2,495,386 2,536,176 Residential real estate lending 6,995 2,133 7,218 — 16,346 1,409,250 1,425,596 Consumer solar 2,569 2,788 2,673 — 8,030 400,230 408,260 Consumer and other 754 231 103 — 1,088 40,199 41,287 Total retail portfolio 10,318 5,152 9,994 — 25,464 1,849,679 1,875,143 $ 27,751 $ 5,320 $ 33,183 $ — $ 66,254 $ 4,345,065 $ 4,411,319 Term Extension Term Extension Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 (Dollars in thousands) Amortized Cost % of Portfolio Amortized Cost % of Portfolio Commercial and industrial $ 479 — % $ 479 — % Multifamily 2,277 0.20 % 2,277 0.2 % Commercial real estate 783 0.20 % 783 0.2 % The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2024. Term Extension Three Months Ended June 30, 2024 Commercial and industrial Modification added a weighted average 0.7 years to the life of the modified loan. Multifamily Modification added a weighted average 0.3 years to the life of the modified loan. Commercial real estate Modification added a weighted average 0.5 years to the life of the modified loan. Term Extension Six Months Ended June 30, 2024 Commercial and industrial Modification added a weighted average 0.7 years to the life of the modified loan. Multifamily Modification added a weighted average 0.3 years to the life of the modified loan. Commercial real estate Modification added a weighted average 0.5 years to the life of the modified loan. The following table presents information regarding loan modifications granted to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023: Term Extension Term Extension Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (Dollars in thousands) Amortized Cost % of Portfolio Amortized Cost % of Portfolio Commercial and industrial $ — — % $ 583 0.1 % Multifamily 327 0.0 % 327 0.0 % Commercial real estate 1,059 0.3 % 1,907 0.6 % Construction and land development — — % 6,887 24.0 % The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty: Term Extension Three months ended June 30, 2023 Multifamily Modification added a weighted average 1.0 years to the life of the modified loan. Commercial real estate Modification added a weighted average 1.0 years to the life of the modified loan. Term Extension Six Months Ended June 30, 2023 Commercial and industrial Modification added a weighted average 1.0 years to the life of the modified loan. Multifamily Modification added a weighted average 1.0 years to the life of the modified loan. Commercial real estate Modifications added a weighted average 0.8 years to the life of the modified loans. Construction and land development Modifications added a weighted average 0.8 years to the life of the modified loans. In the prior twelve months, eight loan modifications were made to borrowers experiencing financial difficulty. One loan that was modified during this period had a payment default during the three and six months ended June 30, 2024. In order to manage credit quality, we view the Company’s loan portfolio by various segments. For commercial loans, we assign individual credit ratings ranging from 1 (lowest risk) to 10 (highest risk) as an indicator of credit quality. These ratings are based on specific risk factors including (i) historical and projected financial results of the borrower, (ii) market conditions of the borrower’s industry that may affect the borrower’s future financial performance, (iii) business experience of the borrower’s management, (iv) nature of the underlying collateral, if any, including the ability of the collateral to generate sources of repayment, and (v) history of the borrower’s payment performance. These specific risk factors are then utilized as inputs in our credit model to determine the associated allowance for credit loss. Non-rated loans generally include residential mortgages and consumer loans. The below 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 Company will sustain some loss); and • 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 tables summarize the Company’s loan portfolio by credit quality indicator as of June 30, 2024: Term Loans by Origination Year (In thousands) 2024 2023 2022 2021 2020 & Prior Revolving loans Revolving Loans Converted to Term Total Commercial and Industrial: Pass $ 79,732 $ 123,780 $ 196,949 $ 190,751 $ 232,178 $ 135,154 $ — $ 958,544 Special Mention — — 1,084 13,665 344 2,218 — 17,311 Substandard 96 — 4,599 8,333 21,232 2,285 — 36,545 Doubtful — — — — — — — — Total commercial and industrial $ 79,828 $ 123,780 $ 202,632 $ 212,749 $ 253,754 $ 139,657 $ — $ 1,012,400 Current period gross charge-offs $ — $ 359 $ 150 $ — $ 712 $ — $ — $ 1,221 Multifamily: Pass $ 96,876 $ 224,569 $ 375,639 $ 43,885 $ 478,983 $ 2 $ — $ 1,219,954 Special Mention — — — — 8,321 — — 8,321 Substandard — — — — 2,270 — — 2,270 Doubtful — — — — — — — — Total multifamily $ 96,876 $ 224,569 $ 375,639 $ 43,885 $ 489,574 $ 2 $ — $ 1,230,545 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Pass $ 58,761 $ 41,950 $ 41,800 $ 48,005 $ 174,869 $ 4,132 $ — $ 369,517 Special Mention — — — — 3,736 — — 3,736 Substandard — — — — 4,231 — — 4,231 Doubtful — — — — — — — — Total commercial real estate $ 58,761 $ 41,950 $ 41,800 $ 48,005 $ 182,836 $ 4,132 $ — $ 377,484 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction and land development: Pass $ — $ — $ — $ — $ 6,936 $ 5,199 $ — $ 12,135 Special Mention — — — — — — — — Substandard — — — — — 11,119 — 11,119 Doubtful — — — — — — — — Total construction and land development $ — $ — $ — $ — $ 6,936 $ 16,318 $ — $ 23,254 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential real estate lending: Pass $ 30,385 $ 132,794 $ 412,248 $ 310,226 $ 511,331 $ — $ — $ 1,396,984 Special Mention — — — — — — — — Substandard — — 1,989 2,360 3,291 — — 7,640 Doubtful — — — — — — — — Total residential real estate lending $ 30,385 $ 132,794 $ 414,237 $ 312,586 $ 514,622 $ — $ — $ 1,404,624 Current period gross charge-offs $ — $ — $ — $ — $ 164 $ — $ — $ 164 Consumer solar: Pass $ — $ 28,195 $ 98,550 $ 124,545 $ 131,720 $ — $ — $ 383,010 Special Mention — — — — — — — — Substandard — 96 931 704 826 — — 2,557 Doubtful — — — — — — — — Total consumer solar $ — $ 28,291 $ 99,481 $ 125,249 $ 132,546 $ — $ — $ 385,567 Current period gross charge-offs $ — $ — $ 1,062 $ 2,208 $ 1,140 $ — $ — $ 4,410 Consumer and other: Pass $ 304 $ 1,951 $ 13,747 $ 11,217 $ 10,373 $ — $ — $ 37,592 Special Mention — — — — — — — — Substandard — 6 95 205 67 — — 373 Doubtful — — — — — — — — Total consumer and other $ 304 $ 1,957 $ 13,842 $ 11,422 $ 10,440 $ — $ — $ 37,965 Current period gross charge-offs $ — $ 9 $ — $ — $ 97 $ — $ — $ 106 Total Loans: Pass $ 266,058 $ 553,239 $ 1,138,933 $ 728,629 $ 1,546,390 $ 144,487 $ — $ 4,377,736 Special Mention — — 1,084 13,665 12,401 2,218 — 29,368 Substandard 96 102 7,614 11,602 31,917 13,404 — 64,735 Doubtful — — — — — — — — Total loans $ 266,154 $ 553,341 $ 1,147,631 $ 753,896 $ 1,590,708 $ 160,109 $ — $ 4,471,839 Current period gross charge-offs $ — $ 368 $ 1,212 $ 2,208 $ 2,113 $ — $ — $ 5,901 The following tables summarize the Company’s loan portfolio by credit quality indicator as of December 31, 2023: Term Loans by Origination Year (In thousands) 2023 2022 2021 2020 2019 & Prior Revolving loans Revolving Loans Converted to Term Total Commercial and Industrial: Pass $ 130,568 $ 220,552 $ 192,682 $ 117,966 $ 141,542 $ 138,003 $ — $ 941,313 Special Mention — — 16,692 3,975 934 4,222 — 25,823 Substandard — 720 — 5,143 16,927 21,072 — 43,862 Doubtful — — — — — — — — Total commercial and industrial $ 130,568 $ 221,272 $ 209,374 $ 127,084 $ 159,403 $ 163,297 $ — $ 1,010,998 Current period gross charge-offs $ — $ — $ — $ — $ 1,726 $ — $ — $ 1,726 Multifamily: Pass $ 193,827 $ 382,652 $ 45,287 $ 138,131 $ 377,554 $ 2 $ — $ 1,137,453 Special Mention — — — — 8,373 — — 8,373 Substandard — — — — 2,294 — — 2,294 Doubtful — — — — — — — — Total multifamily $ 193,827 $ 382,652 $ 45,287 $ 138,131 $ 388,221 $ 2 $ — $ 1,148,120 Current period gross charge-offs $ — $ — $ — $ — $ 2,367 $ — $ — $ 2,367 Commercial real estate: Pass $ 73,089 $ 42,824 $ 48,624 $ 36,478 $ 140,674 $ 3,456 $ — $ 345,145 Special Mention — — — — 3,797 — — 3,797 Substandard — — — 1,858 2,632 — — 4,490 Doubtful — — — — — — — — Total commercial real estate $ 73,089 $ 42,824 $ 48,624 $ 38,336 $ 147,103 $ 3,456 $ — $ 353,432 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction and land development: Pass $ — $ — $ — $ — $ 7,261 $ 5,199 $ — $ 12,460 Special Mention — — — — — — — — Substandard — — — — — 11,166 — 11,166 Doubtful — — — — — — — — Total construction and land development $ — $ — $ — $ — $ 7,261 $ 16,365 $ — $ 23,626 Current period gross charge-offs $ — $ — $ — $ — $ 4,664 $ — $ — $ 4,664 Residential real estate lending: Pass $ 137,167 $ 413,962 $ 328,952 $ 134,795 $ 403,508 $ — $ — $ 1,418,384 Special Mention — — — — — — — — Substandard — 3,232 1,003 399 2,578 — — 7,212 Doubtful — — — — — — — — Total residential real estate lending $ 137,167 $ 417,194 $ 329,955 $ 135,194 $ 406,086 $ — $ — $ 1,425,596 Current period gross charge-offs $ — $ — $ — $ — $ 65 $ — $ — $ 65 Consumer solar: Pass $ 30,412 $ 104,633 $ 131,008 $ 72,752 $ 67,044 $ — $ — $ 405,849 Special Mention — — — — — — — — Substandard — 529 1,080 527 275 — — 2,411 Doubtful — — — — — — — — Total consumer solar $ 30,412 $ 105,162 $ 132,088 $ 73,279 $ 67,319 $ — $ — $ 408,260 Current period gross charge-offs $ — $ 1,525 $ 3,034 $ 2,095 $ 312 $ — $ — $ 6,966 Consumer and other: Pass $ 2,730 $ 14,807 $ 11,866 $ — $ 11,780 $ — $ — $ 41,183 Special Mention — — — — — — — — Substandard 5 36 63 — — — — 104 Doubtful — — — — — — — — Total consumer and other $ 2,735 $ 14,843 $ 11,929 $ — $ 11,780 $ — $ — $ 41,287 Current period gross charge-offs $ 2 $ — $ — $ — $ 268 $ — $ — $ 270 Total Loans: Pass $ 567,793 $ 1,179,430 $ 758,419 $ 500,122 $ 1,149,363 $ 146,660 $ — $ 4,301,787 Special Mention — — 16,692 3,975 13,104 4,222 — 37,993 Substandard 5 4,517 2,146 7,927 24,706 32,238 — 71,539 Doubtful — — — — — — — — Total loans $ 567,798 $ 1,183,947 $ 777,257 $ 512,024 $ 1,187,173 $ 183,120 $ — $ 4,411,319 Current period gross charge-offs $ 2 $ 1,525 $ 3,034 $ 2,095 $ 9,402 $ — $ — $ 16,058 The activities in the allowance by portfolio for the three months ended June 30, 2024 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 15,997 $ 4,448 $ 1,405 $ 853 $ 12,407 $ 26,775 $ 2,515 $ 64,400 Provision for (recovery of) credit losses (636) 223 97 (16) (647) 2,805 (60) 1,766 Charge-offs (821) — — — (4) (2,604) (10) (3,439) Recoveries 10 — — — 648 50 9 717 Ending balance - ACL $ 14,550 $ 4,671 $ 1,502 $ 837 $ 12,404 $ 27,026 $ 2,454 $ 63,444 The activities in the allowance by portfolio for the three months ended June 30, 2023 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 16,473 $ 7,030 $ 2,455 $ 354 $ 14,849 $ 22,762 $ 3,400 $ 67,323 Provision for (recovery of) credit losses 2,008 (633) (170) (30) 337 1,649 (45) 3,116 Charge-offs (1,726) — — — (1) (1,824) (221) (3,772) Recoveries 38 — — — 89 631 6 764 Ending Balance - ACL $ 16,793 $ 6,397 $ 2,285 $ 324 $ 15,274 $ 23,218 $ 3,140 $ 67,431 The activities in the allowance by portfolio for the six months ended June 30, 2024 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 18,331 $ 2,133 $ 1,276 $ 24 $ 13,273 $ 27,978 $ 2,676 $ 65,691 Provision for (recovery of) credit losses (2,574) 2,538 226 813 (1,500) 3,287 (134) 2,656 Charge-offs (1,221) — — — (164) (4,410) (106) (5,901) Recoveries 14 — — — 795 171 18 998 Ending balance - ACL $ 14,550 $ 4,671 $ 1,502 $ 837 $ 12,404 $ 27,026 $ 2,454 $ 63,444 The activities in the allowance by portfolio for the six months ended June 30, 2023 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ALLL $ 12,916 $ 7,104 $ 3,627 $ 825 $ 11,338 $ 6,867 $ 2,354 $ 45,031 Adoption of ASU No. 2016-13 3,816 (1,183) (1,321) (466) 3,068 16,166 1,149 21,229 Beginning balance - ACL 16,732 5,921 2,306 359 14,406 23,033 3,503 66,260 Provision for (recovery of) credit losses 1,745 1,603 (21) (35) 600 2,974 (138) 6,728 Charge-offs (1,726) (1,127) — — (59) (3,631) (239) (6,782) Recoveries 42 — — — 327 842 14 1,225 Ending Balance - ACL $ 16,793 $ 6,397 $ 2,285 $ 324 $ 15,274 $ 23,218 $ 3,140 $ 67,431 The amortized cost basis of loans on nonaccrual status and the specific allowance as of June 30, 2024 are as follows: Nonaccrual with No Allowance Nonaccrual with Allowance Reserve (In thousands) Commercial and industrial $ 563 $ 7,865 $ 5,170 Commercial real estate 4,231 — — Construction and land development 8,804 2,315 817 Total commercial portfolio 13,598 10,180 5,987 Residential real estate lending 7,756 — — Consumer solar 2,794 — — Consumer and other 374 — — Total retail portfolio 10,924 — — $ 24,522 $ 10,180 $ 5,987 The amortized cost basis of loans on nonaccrual status and the specific allowance as of December 31, 2023 are as follows: Nonaccrual with No Allowance Nonaccrual with Allowance Reserve (In thousands) Commercial and industrial $ 612 $ 6,921 $ 4,485 Commercial real estate 4,490 — — Construction and land development 11,166 — — Total commercial portfolio 16,268 6,921 4,485 Residential real estate lending 7,218 — — Consumer solar 2,673 — — Consumer and other 103 — — Total retail portfolio 9,994 — — $ 26,262 $ 6,921 $ 4,485 The below table summarizes collateral dependent loans which were individually evaluated to determine expected credit losses as of June 30, 2024: Real Estate Collateral Dependent Associated Allowance for Credit Losses (In thousands) Commercial real estate $ 4,231 $ — Construction and land development 16,318 817 $ 20,549 $ 817 The below table summarizes collateral dependent loans which were individually evaluated to determine expected credit losses as of December 31, 2023: Real Estate Collateral Dependent Associated Allowance for Credit Losses (In thousands) Commercial real estate $ 4,490 $ — Construction and land development 16,365 — $ 20,855 $ — As of June 30, 2024 and December 31, 2023, mortgage loans with an unpaid principal balance of $2.45 billion and $2.35 billion, respectively, were pledged to the FHLBNY to secure outstanding advances and letters of credit. There were $1.6 million in related party loans outstanding as of June 30, 2024 compared to $1.7 million related party loans as of December 31, 2023. The Company has certain non-performing loans included in the balance of Loans held for sale on the Consolidated Statements of Financial Condition. There were $1.0 million and $1.0 million such loans as of June 30, 2024 and December 31, 2023, respectively.

DEPOSITS

DEPOSITS	6 Months Ended
	Jun. 30, 2024
Statistical Disclosure for Banks [Abstract]
DEPOSITS	DEPOSITS Deposits are summarized as follows: June 30, 2024 December 31, 2023 Amount Weighted Average Rate Amount Weighted Average Rate (In thousands) Non-interest-bearing demand deposit accounts $ 3,445,068 0.00 % $ 2,940,398 0.00 % NOW accounts 192,452 1.07 % 200,382 0.99 % Money market deposit accounts 3,093,644 3.08 % 3,100,681 2.89 % Savings accounts 336,943 1.67 % 340,860 1.20 % Time deposits 227,437 3.50 % 187,457 3.01 % Brokered certificates of deposit ("CDs") 153,444 4.98 % 242,210 5.09 % Total deposits $ 7,448,988 1.59 % $ 7,011,988 1.62 % The scheduled maturities of time deposits and brokered CDs as of June 30, 2024 are as follows: (In thousands) Balance 2024 $ 159,294 2025 99,340 2026 47,174 2027 39,956 2028 26,885 Thereafter 8,232 Total $ 380,881 Time deposits greater than $250,000 totaled $43.3 million as of June 30, 2024 and $42.2 million as of December 31, 2023. From time to time the Company 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 approximately $96.5 million and $63.1 million as of June 30, 2024 and December 31, 2023, respectively, and are included in Time deposits above. Our total deposits included deposits from Workers United and its related entities, a related party, in the amounts of $63.7 million as of June 30, 2024 and $56.4 million as of December 31, 2023. Included in total deposits are state and municipal deposits totaling $61.8 million and $51.9 million as of June 30, 2024 and December 31, 2023, respectively. Such deposits are secured by letters of credit issued by the FHLBNY or by securities pledged with the FHLBNY.

BORROWED FUNDS

BORROWED FUNDS	6 Months Ended
	Jun. 30, 2024
Advance from Federal Home Loan Bank [Abstract]
BORROWED FUNDS	BORROWED FUNDS 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. Assets are pledged to collateral capacity. As of June 30, 2024, the value of the other eligible assets had an estimated market value net of haircut totaling $2.21 billion (comprised of securities of $522.8 million and mortgage loans of $2.4 billion). The fair value of assets pledged to the FHLBNY is required to be not less than 110% of the outstanding advances. There were $9.1 million outstanding FHLB advances as of June 30, 2024 and $4.4 million in outstanding FHLBNY advances as of December 31, 2023. The current FHLBNY advances are through the 0% Development Advance Program that provides members with subsidized funding in the form of interest rate credits to assist in originating loans or purchasing loans or investments that meet one of the eligibility criteria. The Company pledged PACE assessments which qualified under the Climate Development Advance and therefore will receive interest rate credits and will not incur any interest expense related to the current outstanding advances. For the three months ended June 30, 2024, and 2023, interest expense on FHLBNY advances was zero and $1.4 million, respectively. For the six months ended June 30, 2024, and 2023, interest expense on FHLBNY advances was zero million and $4.4 million, respectively.

SUBORDINATED DEBT

SUBORDINATED DEBT	6 Months Ended
	Jun. 30, 2024
Federal Home Loan Banks [Abstract]
SUBORDINATED DEBT	SUBORDINATED DEBT On Novem ber 8, 2021, the Company completed a public offering of $85.0 million of aggregated principal amount of 3.25% Fixed-to-Floating Rate subordinated notes due 2031 (the "Notes"). The fixed rate period is defined from and including November 8, 2021 to, but excluding, November 15, 2026, or the date of earlier redemption. The floating rate period is defined from and including November 15, 2026 to, but excluding, November 15, 2031, or the date of earlier redemption. The floating rate per annum is equal to three-month term SOFR (the "benchmark rate") plus a spread of 230 basis points for each quarterly interest period during the floating rate period, provided however, that if the benchmark rate is less than zero, the benchmark rate shall be deemed to be zero. The subordinated notes will mature on November 15, 2031. The Company may, at its option, beginning with the interest payment date of November 15, 2026, and on any interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to obtaining prior approval of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") to the extent such approval is then required under the capital adequacy rules of the Federal Reserve Board, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. Interest expense on subordinated debt for the three months ended June 30, 2024 and 2023 was $0.6 million and $0.6 million, respectively. Interest expense on subordinated debt for the six months ended June 30, 2024 and 2023 was $1.2 million and $1.2 million, respectively. During the three months ended June 30, 2024 the Company repurchased subordinated notes with a par value of $2.5 million for cash paid of $2.1 million. During the three months ended June 30, 2023 the Company did not repurchase any subordinated notes. During the six months ended June 30, 2024 and June 30, 2023, subordinated notes with a par value of $2.5 million and $4.0 million were repurchased for cash paid of $2.1 million, and $3.2 million, respectively. Gains on repurchases of subordinated debt for the three and six months ended June 30, 2024 were $0.4 million. Gains on repurchases of subordinated debt for the three and six months ended June 30, 2023 were zero and $0.8 million, respectively. All gains are recorded in Non-interest income - other on the consolidated statements of income.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	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 time-based and performance-based restricted stock units are not considered participating securities as they do not recei ve dividend distributions until satisfaction of the related vesting requirements. For the three months ended June 30, 2024 and June 30, 2023, we had 1 thousand and 74 thousand anti-dilutive shares, respectively. For the six months ended June 30, 2024 and June 30, 2023, we had 5 thousand and 84 thousand anti-dilutive shares, respectively. Following is a table setting forth the factors used in the earnings per share computation follow: Three Months Six Months Ended 2024 2023 2024 2023 (In thousands, except per share amounts) Net income attributable to Amalgamated Financial Corp. $ 26,753 $ 21,642 $ 54,002 $ 42,976 Dividends paid on preferred stock — — — — Income attributable to common stock $ 26,753 $ 21,642 54,002 42,976 Weighted average common shares outstanding, basic 30,551 30,619 30,513 30,662 Basic earnings per common share $ 0.88 $ 0.71 $ 1.77 $ 1.40 Income attributable to common stock $ 26,753 $ 21,642 54,002 42,976 Weighted average common shares outstanding, basic 30,551 30,619 30,513 30,662 Incremental shares from assumed conversion of options and RSUs 281 157 276 158 Weighted average common shares outstanding, diluted 30,832 30,776 30,789 30,820 Diluted earnings per common share $ 0.87 $ 0.70 $ 1.75 $ 1.39

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Long Term Incentive Plans Stock Options: The Company does not currently maintain an active stock option plan that is available for issuing new options. As of December 31, 2020, all options are fully vested and the Company will not incur any further expense related to options. A summary of the status of the Company’s options as of June 30, 2024 follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Intrinsic Value (in thousands) Outstanding, January 1, 2024 342,260 $ 13.17 2.6 years Granted — — — Forfeited/ Expired — — — Exercised (153,680) 12.67 — Outstanding, June 30, 2024 188,580 13.58 2.5 years $ 2,606 Vested and Exercisable, June 30, 2024 188,580 $ 13.58 2.5 years $ 2,606 The range of exercise prices is $11.00 to $14.65 per share. As noted above, there was no compensation cost attributable to the options for the three and six months ended June 30, 2024 or for the three and six months ended June 30, 2023 as all options had been fully expensed as of December 31, 2020. The fair value of all awards outstanding as of June 30, 2024 and December 31, 2023 was $2.6 million and $4.7 million, respectively. No cash was received for options exercised in the three and six months ended June 30, 2024 or for the three and six months ended June 30, 2023. The Company repurchased 85,759 shares and 3,999 shares for options exercised in the six months ended June 30, 2024 and June 30, 2023, respectively. Restricted Stock Units: The Amalgamated Financial Corp. 2021 Equity Incentive Plan (the “Equity Plan”) provides for the grant of stock-based incentive awards to employees and directors of the Company. The number of shares of common stock of the Company available for stock-based awards in the Equity Plan is 1,300,000 of which 874,398 shares were available for issuance as of June 30, 2024. Restricted stock units ("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 Company’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. A summary of the status of the Company’s time-based vesting RSUs for the six months ended June 30, 2024 follows: Shares Grant Date Fair Value Unvested, January 1, 2024 291,762 $ 19.48 Awarded 187,611 23.47 Forfeited/Expired — — Vested (156,605) 17.47 Unvested, June 30, 2024 322,768 $ 22.77 A summary of the status of the Company’s performance-based vesting RSUs for the six months ended June 30, 2024 follows: Shares Grant Date Fair Value Unvested, January 1, 2024 125,963 $ 19.68 Awarded 140,157 22.45 Forfeited/Expired — — Vested (23,880) 14.97 Unvested, June 30, 2024 242,240 $ 21.74 During the six months ended June 30, 2024, the Company granted 36,737 and 29,654 performance-based RSUs at a fair value of $23.20 and $23.18 per share, respectively,which vest subject to the achievement of the Company’s corporate goal for the three-year period from January 1, 2024 to December 31, 2026. The corporate goal is based on the Company achieving a target increase in Tangible Book Value, adjusted for certain factors. The minimum and maximum awards that are achievable are 0 and 99,587 shares, respectively. During the six months ended June 30, 2024, the Company granted 69,343 market-based RSUs at a fair value of $22.21 per share 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 1, 2024 to February 28, 2027. The minimum and maximum awards that are achievable are 0 and 104,015 shares, respectively. During the six months ended June 30, 2024, the Company granted 4,423 shares at a fair value of $14.97 per share, respectively, related to the vesting of performance-based RSUs to satisfy the achievement of corporate goals above target. Compensation expense attributable to the vesting of these shares was $66 thousand. As of June 30, 2024, the Company reserved 363,360 shares for issuance upon vesting of performance-based RSUs assuming the Company’s employees achieve the maximum share payout. The Company repurchased 54,079 shares and 45,130 shares for RSUs vested in the six months ended June 30, 2024 and 2023, respectively. Of the 565,008 unvested RSUs and PSUs on June 30, 2024, the minimum units that will vest, solely due to a service test, are 322,768. The maximum units that will vest, assuming the highest payout on performance and market-based units, are 686,128. Compensation expense attributable to RSUs and PSUs was $1.4 million and $2.3 million for the three and six months ended June 30, 2024, and $1.1 million and $2.0 million for the three and six months ended June 30, 2023. The company recorded an expense of $0.1 million and $0.3 million attributable to RSUs granted to directors for the three and six months ended June 30, 2024 and $0.1 million and $0.2 million for the three and six June 30, 2023. As of June 30, 2024, there was $13.4 million of total unrecognized compensation cost related to the non-vested RSUs and PSUs granted. 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 over 1.6 years. Employee Stock Purchase Plan On April 28, 2021, the Company's stockholders approved the Amalgamated Financial Corp. Employee Stock Purchase Plan (the "ESPP") which was implemented on March 2, 2022. The aggregate number of shares of common stock that may be purchased and issued under the ESPP will not exceed 500,000 of previously authorized shares. Under the terms of the ESPP, employees may authorize the withholding of up to 15% of their eligible compensation to purchase the Company's shares of common stock, not to exceed $25,000 of the fair market value of such common stock for any calendar year. The purchase price per shares acquired under the ESPP will never be less than 85% of the fair market value of the Company's common stock on the last day of the offering period. The Company's Board of Directors in its discretion may terminate the ESPP at any time with respect to any shares for which options have not been granted. The Compensation Committee of the Board of Directors (the "Committee") has the right to amend the ESPP without the approval of our stockholders; provided, that no such change may impair the rights of a participant with respect to any outstanding offering period without the consent of such participant, other than a change determined by the Committee to be necessary to comply with applicable law. A participant may not dispose of shares acquired under the ESPP until six months following the grant date of such shares, or any earlier date as of which the Committee has determined that the participant would qualify for a hardship distribution from the Company’s 401(k) Plan. Accordingly, the fair value award associated with their discounted purchase price is expensed at the time of purchase. The below following summarizes the shares purchased under the ESPP since the inception of the plan: Number of Shares Shares available for purchase at December 31, 2023 424,848 Purchases during the three months ended: March 31, 2024 (10,175) June 30, 2024 (7,525) Year-to-date purchases (17,700) Remaining shares available for purchase at June 30, 2024 407,148 The expense related to the discount on purchased shares for the three months ended June 30, 2024 and June 30, 2023 was $30.9 thousand and $18.9 thousand, respectively, and is recorded within compensation and employee benefits expense on the Consolidated Statements of Income. The expense for the six months ended June 30, 2024 and June 30, 2023 was $67.6 thousand and $77.0 thousand, respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
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. Assets Measured at Fair Value on a Recurring Basis Available for sale securities The Company’s available for sale securities are reported at fair value. 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. Derivatives Derivatives represent interest rate option contracts and interest rate swaps and estimated fair values are based on valuation models using observable market data as of the measurement date The following summarizes those financial instruments measured at fair value on a recurring basis in the Consolidated Statements of Financial Condition as of the dates indicated, categorized by the relevant class of investment and level of the fair value hierarchy: June 30, 2024 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets: Available for sale securities: Traditional securities: GSE certificates & CMOs $ — $ 597,486 $ — $ 597,486 Non-GSE certificates & CMOs — 194,582 — 194,582 ABS — 676,781 — 676,781 Corporate — 108,569 — 108,569 Other 198 3,722 — 3,920 PACE assessments: Residential PACE assessments — — 112,923 112,923 Other assets - Cash flow hedges — 823 — 823 Total assets carried at fair value $ 198 $ 1,581,963 $ 112,923 $ 1,695,084 Financial liabilities: Other liabilities - Cash flow hedges — 43 — 43 Total liabilities carried at fair value $ — $ 43 $ — $ 43 December 31, 2023 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets: Available for sale securities: Traditional securities: GSE certificates & CMOs $ — $ 480,615 $ — $ 480,615 Non-GSE certificates & CMOs — 196,860 — 196,860 ABS — 627,635 — 627,635 Corporate — 120,741 — 120,741 Other 199 3,689 — 3,888 PACE assessments: Residential PACE assessments — — 53,303 53,303 Total assets carried at fair value $ 199 $ 1,429,540 $ 53,303 $ 1,483,042 The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2024 and June 30, 2023 : Residential PACE Assessments June 30, 2024 June 30, 2023 (In thousands) Balance of recurring Level 3 assets at January 1 $ 53,303 $ — Amortization included in interest income 1 — Change in unrealized holding gains/losses included in other comprehensive income (316) — Purchases 68,982 — Sales (6,284) — Principal paydowns (2,763) — Balance of recurring Level 3 assets at June 30 $ 112,923 $ — The fair value of the Company's PACE assessments are determined internally by calculating discounted cash flows using expected conditional prepayment rates, market spreads, and the Treasury yield curve. Qualitative assessments from recent commentary from dealers or investors or issuers, information revealed from secondary market trades of clean energy senior asset-backed securities, and volatility in the marketplace are reviewed and incorporated into the calculations. The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2024 and December 31, 2023: June 30, 2024 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Residential PACE assessments $ 112,923 Discounted cash flow Conditional prepayment rate 7.0%-25.0% (18.2%) December 31, 2023 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Residential PACE assessments $ 53,303 Discounted cash flow Conditional prepayment rate 7.0%-26.0% (16.3%) Assets Measured at Fair Value on a Non-recurring Basis Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis. That is, they are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a non-recurring basis include certain individually evaluated loans (or impaired loans prior to the adoption of ASU 2016-13) reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. The following tables summarize assets measured at fair value on a non-recurring basis in the Consolidated Statements of Financial Condition as of the dates indicated, categorized by the relevant class of investment and level of the fair value hierarchy: June 30, 2024 (In thousands) Carrying Value Level 1 Level 2 Level 3 Estimated Fair Value Fair Value Measurements: Individually analyzed loans $ 1,499 $ — $ — $ 1,499 $ 1,499 At December 31, 2023, there were no individually analyzed collateral-dependent loans. Financial Instruments Not Measured at Fair Value 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. For a description of the methods, factors and significant assumptions utilized in estimating the fair values for significant categories of financial instruments not measured at fair value, refer to footnote 14, Fair Value of Financial Instruments , included in the Annual Report on Form 10-K for the year ended December 31, 2023. 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 Company’s total enterprise value. The following table summarizes the financial statement basis and estimated fair values for significant categories of financial instruments: June 30, 2024 (In thousands) Carrying Value Level 1 Level 2 Level 3 Estimated Fair Value Financial assets: Cash and cash equivalents $ 57,993 $ 57,993 $ — $ — $ 57,993 Held-to-maturity securities 1,660,582 — 563,074 937,133 1,500,207 Loans held for sale 1,926 — — 1,926 1,926 Loans receivable, net 4,408,395 — — 4,121,111 4,121,111 Resell agreements 137,461 — — 137,461 137,461 Accrued interest receivable 52,575 50 13,096 39,429 52,575 Financial liabilities: Deposits payable on demand $ 7,068,107 $ — $ 7,068,107 $ — $ 7,068,107 Time deposits and brokered CDs 380,881 — 378,565 — 378,565 FHLBNY advances 9,135 — 8,931 — 8,931 Subordinated debt, net 68,117 — 57,900 — 57,900 Accrued interest payable 3,474 — 3,474 — 3,474 December 31, 2023 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 90,570 $ 90,570 $ — $ — $ 90,570 Held-to-maturity securities 1,696,834 — 575,418 974,091 1,549,509 Loans held for sale 1,817 — 1,817 1,817 Loans receivable, net 4,345,628 — — 4,029,142 4,029,142 Resell agreements 50,000 — — 50,000 50,000 Accrued interest receivable 55,484 43 12,645 42,796 55,484 Financial liabilities: Deposits payable on demand $ 6,582,321 $ — $ 6,582,321 $ — $ 6,582,321 Time deposits and brokered CDs 429,667 — 428,116 — 428,116 FHLBNY advances 4,381 — 4,381 — 4,381 Other borrowings 230,000 — 229,711 — 229,711 Subordinated debt, net 70,546 — 56,790 — 56,790 Accrued interest payable 12,270 — 12,270 — 12,270

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK	COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK Credit Commitments The Company is party to various credit related financial instruments with off balance sheet risk. The Company, 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. The following financial instruments were outstanding whose contract amounts represent credit risk as of the related periods: June 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 595,448 $ 514,206 Standby letters of credit 30,341 31,678 Total $ 625,789 $ 545,884 Commitments to extend credit are contracts 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 Company’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 Company 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 Company considers this carrying value, which is not material, to approximate the estimated fair value of these financial instruments. The Company reserves for the credit risk inherent in off balance sheet credit commitments. This allowance, which is included in other liabilities, amounted to approximately $6.3 million as of June 30, 2024, compared to an allowance of $4.2 million as of December 31, 2023. The provision for credit losses related to off balance sheet credit commitments was $1.4 million and $2.1 million for the three and six months ended June 30, 2024, and $0.8 million and $0.9 million for the three and six months ended June 30, 2023. Investment Obligations The Company is a party to agreements with Pace Funding Group LLC, which operates Home Run Financing, for the purchase of PACE assessment securities until January 2025. As of June 30, 2024, the Company had purchased $781.6 million of these obligations and had an estimated remaining commitment of $106.6 million. These investments are currently held in the Company's available for sale and held-to-maturity investment portfolio. The Company evaluates these obligations for credit risk and the recorded reserve is immaterial. Other Commitments and Contingencies In the ordinary course of business, there are various legal proceedings pending against the Company. 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 Company. As part of the Company's ongoing investments in VIE projects, we also have commitments to provide financing, which are included in footnote 14.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	LEASES The Bank as a lessee has operating leases primarily consisting of real estate arrangements where the Company operates its headquarters, branches and business production offices. All leases identified as in scope are accounted for as operating leases as of June 30, 2024. 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 Company’s right to use the underlying asset for the lease term and the operating lease liabilities represent the obligation to make lease payments arising from the lease. The Company 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 operating lease liability. The IBR reflects the interest rate the Company 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: Three Months Ended Six Months Ended 2024 2023 2024 2023 (In thousands) Operating lease cost $ 1,826 $ 1,795 $ 3,666 $ 3,572 Cash paid for amounts included in the measurement of operating leases liability $ 2,681 $ 2,816 $ 6,867 $ 5,629 Note: Sublease income and variable income or expense considered immaterial The weighted average remaining lease term on operating leases at June 30, 2024 and June 30, 2023 was 2.6 years and 3.3 years, respectively. The weighted average discount rate used for the operating lease liability was 3.13% and 3.23% at June 30, 2024 and June 30, 2023, respectively. 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 as of June 30, 2024: (In thousands) As of June 30, 2024 2024 $ 5,394 2025 10,797 2026 8,881 2027 747 2028 — Thereafter — Total undiscounted operating lease payments 25,819 Less: present value adjustment 1,035 Total Operating leases liability $ 24,784

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill In accordance with GAAP, the Company 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 Company, 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 Company performed its annual test based upon market data as of June 30, 2024 and estimates and assumptions that the Company believes most appropriate for the analysis. Based on the qualitative analysis performed in accordance with ASC 350, the Company determined it more likely than not that goodwill was not impaired as of June 30, 2024. During the three and six months ended June 30, 2024, there were no events or circumstances that would indicate that a potential impairment exists. Changes in certain assumptions used in the Company's assessment could result in significant differences in the results of the impairment test. Should market conditions or management’s assumptions change significantly in the future, an impairment to goodwill is possible. At June 30, 2024 and December 31, 2023, the carrying amount of goodwill was $12.9 million. The gross carrying amount of the core deposit intangible was $9.1 million, and the accumulated amortization of the core deposit intangible was $7.3 million and $6.9 million as of June 30, 2024 and December 31, 2023, respectively. At June 30, 2024 and December 31, 2023, the carrying amount of the core deposit intangible was $1.9 million and $2.2 million, respectively. Amortization expense recognized on the core deposit intangible was $0.2 million and $0.2 million for the three months ended June 30, 2024 and June 30, 2023, respectively, and $0.4 million and $0.4 million for the six months ended June 30, 2024 and June 30, 2023, respectively. The following table reflects the estimated amortization expense, comprised entirely by the Company’s core deposit intangible asset, for the next five years and thereafter: (In thousands) Total 2024 $ 365 2025 574 2026 419 2027 265 2028 111 Thereafter 118 Total $ 1,852

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Tax Credit Investments The Company 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 variable interest entities ("VIE"). The Company 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 Company making its investment. Any loans to the VIE are secured. As of June 30, 2024, the Company's maximum exposure to loss is $60.2 million. June 30, 2024 December 31, 2023 (In thousands) Unconsolidated Variable Interest Entities Tax credit investments included in equity investments $ 8,960 $ 9,024 Loan commitments 51,216 52,222 Funded portion of loan commitments 51,216 52,222 The following table summarizes the tax benefits conveyed by the Company’s solar generation VIE investments: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Tax credits and other tax benefits recognized $ 855 $ 813 $ 1,718 $ 1,600

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	DERIVATIVES AND HEDGING ACTIVITIES The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts. The Company’s objectives in using interest rate derivatives are to manage its exposure to interest rate movements and to add stability to net interest income. To accomplish this objective, the Company has entered into interest rate cash flow hedges as part of its interest rate risk management strategy. As of June 30, 2024, the Company had one interest rate swap with a notional value of $100.0 million and one interest rate option contract with a floor with a notional value of $80.0 million, both hedging floating-rate available for sale securities. Effect of Derivatives on the Consolidated Statements of Financial Condition The tables below present the fair value of the Company’s derivative assets and liabilities as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 (In thousands) Notional Amount Fair Value Assets Notional Amount Fair Value Assets Derivatives designated as hedging instruments: Cash flow hedges - interest rate products $ 80,000 $ 823 $ — $ — June 30, 2024 December 31, 2023 (In thousands) Notional Amount Fair Value Liabilities Notional Amount Fair Value Liabilities Derivatives designated as hedging instruments: Cash flow hedges - interest rate products $ 100,000 $ 43 $ — $ — Effect of Cash Flow Hedge Accounting on the Consolidated Statements of Operations The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three and six months ended June 30, 2024 and 2023. Three months ended Three months ended June 30, 2024 June 30, 2023 (In thousands) Interest Income Interest Expense Interest Income Interest Expense Gain or (loss) on cash flow hedging relationships: Gain (loss) reclassified from accumulated OCI into income $ (33) $ — $ — $ — Six months ended Six months ended June 30, 2024 June 30, 2023 (In thousands) Interest Income Interest Expense Interest Income Interest Expense Gain or (loss) on cash flow hedging relationships: Gain (loss) reclassified from accumulated OCI into income $ (33) $ — $ — $ — Cash Flow Hedges Cash flow hedges involve the receipt of fixed amounts from a counterparty in exchange for the Company making variable-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company uses these types of derivatives to hedge the variable cash flows associated with existing or forecasted variable-rate securities. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest income in the same periods during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest income as interest payments are received on the Company’s variable-rate securities. During the next twelve months, the Company estimates that an additional $0.2 million will be reclassified as a reduction in interest income. The Company did not terminate any derivatives during the three and six months ended June 30, 2024 and June 30, 2023, respectively. The table below presents the effect of the cash flow hedge accounting on accumulated other comprehensive income (loss) for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2024 2023 2024 2023 Gain (loss) recognized in other comprehensive income (loss) $ (44) $ — $ (44) $ — Gain (loss) reclassified from other comprehensive income into interest income (33) — (33) — All cash flow hedges are recorded gross on the Consolidated Statements of Financial Condition.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 26,753	$ 21,642	$ 54,002	$ 42,976

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION AND CON_2

BASIS OF PRESENTATION AND CONSOLIDATION (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting and Changes in Significant Accounting Policies	Basis of Accounting and Changes in Significant Accounting Policies In this discussion, unless the context indicates otherwise, references to “we,” “us,” “our” and the “Company” refer to Amalgamated Financial Corp. and Amalgamated Bank. References to the “Bank” refer to Amalgamated Bank.
Consolidation	The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The annualized results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant inter-company transactions and balances are eliminated in consolidation. In the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial position and the results of operations as of the dates and for the interim periods presented have been included. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes appearing in the Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”).
Derivatives	Derivatives - The Company’s derivative instruments are carried at fair value in the Company’s financial statements as part of Other assets for derivatives with positive fair values and Other liabilities for derivatives with negative fair values. The accounting for changes in the fair value of a derivative instrument is dependent upon whether or not it qualifies and has been designated as a hedge for accounting purposes, and further, by the type of hedging relationship. At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation. For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For cash flow hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. When hedge accounting is discontinued on a fair value hedge that no longer qualifies as an effective hedge, the derivative continues to be reported at fair value in the statement of condition, but the carrying amount of the hedged item is no longer adjusted for future changes in fair value. The adjustment to the carrying amount of the hedged item that existed at the date hedge accounting is discontinued is amortized over the remaining life of the hedged item into earnings. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the statement of condition or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments The Company adopted ASU No. 2016-13 on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the adoption date and, accordingly, the Company recorded a net of tax decrease of $17.8 million to retained earnings as of January 1, 2023.
Reclassifications	Reclassifications
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.

BASIS OF PRESENTATION AND CON_3

BASIS OF PRESENTATION AND CONSOLIDATION (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle	The below table illustrates the impact of the adoption of ASU 2016-13. January 1, 2023 Gross Adjustment Tax Impact Net Adjustment to Retained Earnings Assets: Allowance for credit losses on held-to-maturity securities $ 668 $ (184) $ 484 Allowance for credit losses on loans 21,229 (5,849) 15,380 Liabilities: Allowance for credit losses on off-balance sheet credit exposures 2,705 (744) 1,961 Total Day 1 Adjustment for Adoption of ASU 2016-13 $ 24,602 $ (6,777) $ 17,825

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Comprehensive Income (Loss) Balances, Net	The following is a summary of the accumulated comprehensive income (loss) balances, net of income taxes: Balance as of January 1, 2024 Current Income Tax Balance as of June 30, 2024 (In thousands) Total unrealized gains (losses) on Benefit Plans $ (1,481) $ 87 $ (23) $ (1,417) Unrealized gains (losses) on available for sale securities (74,348) 15,827 (4,323) (62,844) Unaccreted unrealized loss on securities transferred to held-to-maturity (10,175) 1,192 (327) (9,310) Unrealized gains (losses) on cash flow hedges — (11) 3 (8) Total $ (86,004) $ 17,095 $ (4,670) $ (73,579) Balance as of January 1, 2023 Current Income Tax Balance as of June 30, 2023 (In thousands) Total unrealized gains (losses) on Benefit Plans $ (1,652) $ 97 $ (27) $ (1,582) Unrealized gains (losses) on available for sale securities (95,539) 3,771 $ (1,039) $ (92,807) Unaccreted unrealized loss on securities transferred to held-to-maturity (11,516) 954 (263) $ (10,825) Unrealized gains (losses) on cash flow hedges — — — — Total $ (108,707) $ 4,822 $ (1,329) $ (105,214)
Schedule of Other Comprehensive Income (Loss) Components	Other comprehensive income (loss) components and related income tax effects were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (In thousands) Postretirement Benefit Plans Change in obligation for postretirement benefits and for prior service credit $ 37 $ 40 $ 73 $ 80 Reclassification adjustment for prior service expense included in compensation and employee benefits 7 7 14 14 Change in obligation for other benefits — 2 — $ 3 Change in total obligation for postretirement benefits and for prior service credit and for other benefits 44 49 87 97 Income tax expense (12) (14) (23) (27) Net change in total obligation for postretirement benefits and prior service credit and for other benefits 32 35 64 70 Securities Unrealized holding gains (losses) on available for sale securities 3,960 (11,681) 10,362 418 Reclassification adjustment for losses realized in loss on sale of securities 2,691 267 5,465 3,353 Accretion of net unrealized loss on securities transferred to held-to-maturity 597 466 1,192 954 Change in unrealized gains (losses) on available for sale securities 7,248 (10,948) 17,019 4,725 Income tax benefit (expense) (1,979) 3,016 (4,650) (1,302) Net change in unrealized gains (losses) on securities 5,269 (7,932) 12,369 3,423 Derivatives Unrealized holding gains (losses) on cash flow hedges (44) — (44) — Reclassification adjustment for losses (gains) realized in income 33 — 33 — Change in unrealized gains (losses) on cash flow hedges (11) — (11) — Income tax benefit 3 — 3 — Net change in unrealized gains (losses) on cash flow hedges (8) — (8) — Total $ 5,293 $ (7,897) $ 12,425 $ 3,493

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 are as follows: June 30, 2024 (In thousands) Amortized Gross Gross Fair Available for sale: Traditional securities: Government sponsored entities ("GSE") residential CMOs ("collateralized mortgage obligations") $ 632,026 $ 1,509 $ (36,049) $ 597,486 Non-GSE certificates & CMOs 214,726 62 (20,206) 194,582 ABS 691,477 1,150 (15,846) 676,781 Corporate 125,503 — (16,934) 108,569 Other 4,197 — (277) 3,920 1,667,929 2,721 (89,312) 1,581,338 PACE assessments: Residential PACE assessments 112,799 124 — 112,923 Total available for sale $ 1,780,728 $ 2,845 $ (89,312) $ 1,694,261 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 191,359 $ 908 $ (19,940) $ 172,327 Non-GSE certificates & CMOs 75,979 — (6,871) 69,108 ABS 272,508 546 (6,489) 266,565 Municipal 66,220 141 (11,287) 55,074 606,066 1,595 (44,587) 563,074 PACE assessments: Commercial PACE assessments 256,663 — (34,409) 222,254 Residential PACE assessments 798,561 — (83,682) 714,879 1,055,224 — (118,091) 937,133 Total held-to-maturity $ 1,661,290 $ 1,595 $ (162,678) $ 1,500,207 Allowance for credit losses (708) Total held-to-maturity, net of allowance for credit losses $ 1,660,582 The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2023 are as follows: December 31, 2023 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Traditional securities: GSE residential CMOs $ 521,101 $ 59 $ (40,545) $ 480,615 Non-GSE certificates & CMOs 218,550 — (21,690) 196,860 ABS 648,585 40 (20,990) 627,635 Corporate 140,038 — (19,297) 120,741 Other 4,197 — (309) 3,888 1,532,471 99 (102,831) 1,429,739 PACE assessments: Residential PACE assessments 52,863 440 — 53,303 Total available for sale $ 1,585,334 $ 539 $ (102,831) $ 1,483,042 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 194,329 $ 1,099 $ (19,693) $ 175,735 Non-GSE certificates & CMOs 79,406 9 (6,686) 72,729 ABS 279,916 23 (8,678) 271,261 Municipal 66,635 165 (11,107) 55,693 620,286 1,296 (46,164) 575,418 PACE assessments: Commercial PACE assessments 258,306 — (29,211) 229,095 Residential PACE assessments 818,963 — (73,967) 744,996 1,077,269 — (103,178) 974,091 Total held-to-maturity $ 1,697,555 $ 1,296 $ (149,342) $ 1,549,509 Allowance for credit losses (721) Total held-to-maturity, net of allowance for credit losses $ 1,696,834
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 June 30, 2024 are as follows: June 30, 2024 (In thousands) Amortized Gross Gross Fair Available for sale: Traditional securities: Government sponsored entities ("GSE") residential CMOs ("collateralized mortgage obligations") $ 632,026 $ 1,509 $ (36,049) $ 597,486 Non-GSE certificates & CMOs 214,726 62 (20,206) 194,582 ABS 691,477 1,150 (15,846) 676,781 Corporate 125,503 — (16,934) 108,569 Other 4,197 — (277) 3,920 1,667,929 2,721 (89,312) 1,581,338 PACE assessments: Residential PACE assessments 112,799 124 — 112,923 Total available for sale $ 1,780,728 $ 2,845 $ (89,312) $ 1,694,261 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 191,359 $ 908 $ (19,940) $ 172,327 Non-GSE certificates & CMOs 75,979 — (6,871) 69,108 ABS 272,508 546 (6,489) 266,565 Municipal 66,220 141 (11,287) 55,074 606,066 1,595 (44,587) 563,074 PACE assessments: Commercial PACE assessments 256,663 — (34,409) 222,254 Residential PACE assessments 798,561 — (83,682) 714,879 1,055,224 — (118,091) 937,133 Total held-to-maturity $ 1,661,290 $ 1,595 $ (162,678) $ 1,500,207 Allowance for credit losses (708) Total held-to-maturity, net of allowance for credit losses $ 1,660,582 The amortized cost and fair value of investment securities available for sale and held-to-maturity as of December 31, 2023 are as follows: December 31, 2023 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: Traditional securities: GSE residential CMOs $ 521,101 $ 59 $ (40,545) $ 480,615 Non-GSE certificates & CMOs 218,550 — (21,690) 196,860 ABS 648,585 40 (20,990) 627,635 Corporate 140,038 — (19,297) 120,741 Other 4,197 — (309) 3,888 1,532,471 99 (102,831) 1,429,739 PACE assessments: Residential PACE assessments 52,863 440 — 53,303 Total available for sale $ 1,585,334 $ 539 $ (102,831) $ 1,483,042 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held-to-maturity: Traditional securities: GSE certificates & CMOs $ 194,329 $ 1,099 $ (19,693) $ 175,735 Non-GSE certificates & CMOs 79,406 9 (6,686) 72,729 ABS 279,916 23 (8,678) 271,261 Municipal 66,635 165 (11,107) 55,693 620,286 1,296 (46,164) 575,418 PACE assessments: Commercial PACE assessments 258,306 — (29,211) 229,095 Residential PACE assessments 818,963 — (73,967) 744,996 1,077,269 — (103,178) 974,091 Total held-to-maturity $ 1,697,555 $ 1,296 $ (149,342) $ 1,549,509 Allowance for credit losses (721) Total held-to-maturity, net of allowance for credit losses $ 1,696,834
Schedule of Investments by Contractual Maturity	The following table 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 June 30, 2024. 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 Amortized Fair Value Amortized Fair Value (In thousands) Due within one year $ 3,000 $ 2,968 $ — $ — Due after one year through five years 71,760 67,885 9,448 9,134 Due after five years through ten years 270,856 257,783 161,422 161,263 Due after ten years 588,360 573,557 1,223,082 1,088,375 $ 933,976 $ 902,193 $ 1,393,952 $ 1,258,772
Schedule of Proceeds Received and Gains (Losses) on Sale of Available for Sale Securities	Three Months Ended, Six Months Ended, June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (In thousands) Proceeds $ 140,343 $ 29,232 $ 219,170 $ 174,537 Realized gains $ 4 $ — $ 4 $ — Realized losses (2,695) (267) (5,469) (3,353) Net realized losses $ (2,691) $ (267) $ (5,465) $ (3,353)
Schedule of Unrealized Losses	The following summarizes the fair value and unrealized losses for available for sale securities as of June 30, 2024 and December 31, 2023, respectively, 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: June 30, 2024 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for sale: Traditional securities: GSE certificates & CMOs $ 135,942 $ 7,926 $ 275,372 $ 28,123 $ 411,314 $ 36,049 Non-GSE certificates & CMOs 11,587 463 171,965 19,743 183,552 20,206 ABS 58,021 531 233,711 15,315 291,732 15,846 Corporate 10,698 799 97,871 16,135 108,569 16,934 Other 198 2 3,722 275 3,920 277 Total available for sale $ 216,446 $ 9,721 $ 782,641 $ 79,591 $ 999,087 $ 89,312 December 31, 2023 Less Than Twelve Months Twelve Months or Longer Total (In thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available for sale: Traditional securities: GSE certificates & CMOs $ — $ — $ 460,239 $ 40,545 $ 460,239 $ 40,545 Non-GSE certificates & CMOs — — 196,860 21,690 196,860 21,690 ABS 53,133 122 526,868 20,868 580,001 20,990 Corporate — — 120,741 19,297 120,741 19,297 Other — — 3,888 309 3,888 309 Total available for sale $ 53,133 $ 122 $ 1,308,596 $ 102,709 $ 1,361,729 $ 102,831
Debt Securities, Held-to-Maturity, Allowance for Credit Loss	The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2024: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 53 $ 256 $ 401 $ 710 Provision for (recovery of) credit losses — — (2) (2) Charge-offs — — — — Recoveries — — — — Ending balance $ 53 $ 256 $ 399 $ 708 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the three months ended June 30, 2023: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 58 $ 262 $ 367 $ 687 Provision for (recovery of) credit losses (1) — 21 20 Charge-offs — — — — Recoveries — — — — Ending balance $ 57 $ 262 $ 388 $ 707 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2024: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ 54 $ 258 $ 409 $ 721 Recovery of credit losses (1) (2) (10) (13) Charge-offs — — — — Recoveries — — — — Ending balance $ 53 $ 256 $ 399 $ 708 The following table presents the activity in the allowance for credit losses for securities held-to-maturity for the six months ended June 30, 2023: (In thousands) Non-GSE commercial certificates Commercial PACE Residential PACE Total Allowance for credit losses: Beginning balance $ — $ — $ — $ — Adoption of ASU No. 2016-13 85 255 328 668 Provision for (recovery of) credit losses (2) 7 60 65 Charge-offs (26) — — (26) Recoveries — — — — Ending balance $ 57 $ 262 $ 388 $ 707

LOANS RECEIVABLE, NET (Tables)

LOANS RECEIVABLE, NET (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Loans Receivable	Loans receivable are summarized as follows: June 30, December 31, (In thousands) Commercial and industrial $ 1,012,400 $ 1,010,998 Multifamily 1,230,545 1,148,120 Commercial real estate 377,484 353,432 Construction and land development 23,254 23,626 Total commercial portfolio 2,643,683 2,536,176 Residential real estate lending 1,404,624 1,425,596 Consumer solar 385,567 408,260 Consumer and other 37,965 41,287 Total retail portfolio 1,828,156 1,875,143 Total loans receivable 4,471,839 4,411,319 Allowance for credit losses (63,444) (65,691) Total loans receivable, net $ 4,408,395 $ 4,345,628
Schedule of Quality of Bank's Loans	The following table presents information regarding the past due status of the Company’s loans as of June 30, 2024: 30-59 Days Past Due 60-89 Days Past Due Non- 90 Days or Total Past Due and Non-Accrual Current Total Loans (In thousands) Commercial and industrial $ 808 $ 200 $ 8,428 $ — $ 9,436 $ 1,002,964 $ 1,012,400 Multifamily — — — — — 1,230,545 1,230,545 Commercial real estate — — 4,231 — 4,231 373,253 377,484 Construction and land development — — 11,119 — 11,119 12,135 23,254 Total commercial portfolio 808 200 23,778 — 24,786 2,618,897 2,643,683 Residential real estate lending 3,671 1,470 7,756 — 12,897 1,391,727 1,404,624 Consumer solar 2,643 1,234 2,794 — 6,671 378,896 385,567 Consumer and other 428 444 374 — 1,246 36,719 37,965 Total retail portfolio 6,742 3,148 10,924 — 20,814 1,807,342 1,828,156 $ 7,550 $ 3,348 $ 34,702 $ — $ 45,600 $ 4,426,239 $ 4,471,839 The following table presents information regarding the past due status of the Company’s loans as of December 31, 2023: 30-59 Days Past Due 60-89 Days Past Due Non- 90 Days or Total Past Due and Non-Accrual Current Total Loans (In thousands) Commercial and industrial $ 266 $ 168 $ 7,533 $ — $ 7,967 $ 1,003,031 $ 1,010,998 Multifamily 11,968 — — — 11,968 1,136,152 1,148,120 Commercial real estate — — 4,490 — 4,490 348,942 353,432 Construction and land development 5,199 — 11,166 — 16,365 7,261 23,626 Total commercial portfolio 17,433 168 23,189 — 40,790 2,495,386 2,536,176 Residential real estate lending 6,995 2,133 7,218 — 16,346 1,409,250 1,425,596 Consumer solar 2,569 2,788 2,673 — 8,030 400,230 408,260 Consumer and other 754 231 103 — 1,088 40,199 41,287 Total retail portfolio 10,318 5,152 9,994 — 25,464 1,849,679 1,875,143 $ 27,751 $ 5,320 $ 33,183 $ — $ 66,254 $ 4,345,065 $ 4,411,319
Schedule of Loan Modifications	Term Extension Term Extension Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 (Dollars in thousands) Amortized Cost % of Portfolio Amortized Cost % of Portfolio Commercial and industrial $ 479 — % $ 479 — % Multifamily 2,277 0.20 % 2,277 0.2 % Commercial real estate 783 0.20 % 783 0.2 % The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2024. Term Extension Three Months Ended June 30, 2024 Commercial and industrial Modification added a weighted average 0.7 years to the life of the modified loan. Multifamily Modification added a weighted average 0.3 years to the life of the modified loan. Commercial real estate Modification added a weighted average 0.5 years to the life of the modified loan. Term Extension Six Months Ended June 30, 2024 Commercial and industrial Modification added a weighted average 0.7 years to the life of the modified loan. Multifamily Modification added a weighted average 0.3 years to the life of the modified loan. Commercial real estate Modification added a weighted average 0.5 years to the life of the modified loan. The following table presents information regarding loan modifications granted to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023: Term Extension Term Extension Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (Dollars in thousands) Amortized Cost % of Portfolio Amortized Cost % of Portfolio Commercial and industrial $ — — % $ 583 0.1 % Multifamily 327 0.0 % 327 0.0 % Commercial real estate 1,059 0.3 % 1,907 0.6 % Construction and land development — — % 6,887 24.0 % The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty: Term Extension Three months ended June 30, 2023 Multifamily Modification added a weighted average 1.0 years to the life of the modified loan. Commercial real estate Modification added a weighted average 1.0 years to the life of the modified loan. Term Extension Six Months Ended June 30, 2023 Commercial and industrial Modification added a weighted average 1.0 years to the life of the modified loan. Multifamily Modification added a weighted average 1.0 years to the life of the modified loan. Commercial real estate Modifications added a weighted average 0.8 years to the life of the modified loans. Construction and land development Modifications added a weighted average 0.8 years to the life of the modified loans.
Schedule of Loans by Credit Quality Indicator	The following tables summarize the Company’s loan portfolio by credit quality indicator as of June 30, 2024: Term Loans by Origination Year (In thousands) 2024 2023 2022 2021 2020 & Prior Revolving loans Revolving Loans Converted to Term Total Commercial and Industrial: Pass $ 79,732 $ 123,780 $ 196,949 $ 190,751 $ 232,178 $ 135,154 $ — $ 958,544 Special Mention — — 1,084 13,665 344 2,218 — 17,311 Substandard 96 — 4,599 8,333 21,232 2,285 — 36,545 Doubtful — — — — — — — — Total commercial and industrial $ 79,828 $ 123,780 $ 202,632 $ 212,749 $ 253,754 $ 139,657 $ — $ 1,012,400 Current period gross charge-offs $ — $ 359 $ 150 $ — $ 712 $ — $ — $ 1,221 Multifamily: Pass $ 96,876 $ 224,569 $ 375,639 $ 43,885 $ 478,983 $ 2 $ — $ 1,219,954 Special Mention — — — — 8,321 — — 8,321 Substandard — — — — 2,270 — — 2,270 Doubtful — — — — — — — — Total multifamily $ 96,876 $ 224,569 $ 375,639 $ 43,885 $ 489,574 $ 2 $ — $ 1,230,545 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Pass $ 58,761 $ 41,950 $ 41,800 $ 48,005 $ 174,869 $ 4,132 $ — $ 369,517 Special Mention — — — — 3,736 — — 3,736 Substandard — — — — 4,231 — — 4,231 Doubtful — — — — — — — — Total commercial real estate $ 58,761 $ 41,950 $ 41,800 $ 48,005 $ 182,836 $ 4,132 $ — $ 377,484 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction and land development: Pass $ — $ — $ — $ — $ 6,936 $ 5,199 $ — $ 12,135 Special Mention — — — — — — — — Substandard — — — — — 11,119 — 11,119 Doubtful — — — — — — — — Total construction and land development $ — $ — $ — $ — $ 6,936 $ 16,318 $ — $ 23,254 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Residential real estate lending: Pass $ 30,385 $ 132,794 $ 412,248 $ 310,226 $ 511,331 $ — $ — $ 1,396,984 Special Mention — — — — — — — — Substandard — — 1,989 2,360 3,291 — — 7,640 Doubtful — — — — — — — — Total residential real estate lending $ 30,385 $ 132,794 $ 414,237 $ 312,586 $ 514,622 $ — $ — $ 1,404,624 Current period gross charge-offs $ — $ — $ — $ — $ 164 $ — $ — $ 164 Consumer solar: Pass $ — $ 28,195 $ 98,550 $ 124,545 $ 131,720 $ — $ — $ 383,010 Special Mention — — — — — — — — Substandard — 96 931 704 826 — — 2,557 Doubtful — — — — — — — — Total consumer solar $ — $ 28,291 $ 99,481 $ 125,249 $ 132,546 $ — $ — $ 385,567 Current period gross charge-offs $ — $ — $ 1,062 $ 2,208 $ 1,140 $ — $ — $ 4,410 Consumer and other: Pass $ 304 $ 1,951 $ 13,747 $ 11,217 $ 10,373 $ — $ — $ 37,592 Special Mention — — — — — — — — Substandard — 6 95 205 67 — — 373 Doubtful — — — — — — — — Total consumer and other $ 304 $ 1,957 $ 13,842 $ 11,422 $ 10,440 $ — $ — $ 37,965 Current period gross charge-offs $ — $ 9 $ — $ — $ 97 $ — $ — $ 106 Total Loans: Pass $ 266,058 $ 553,239 $ 1,138,933 $ 728,629 $ 1,546,390 $ 144,487 $ — $ 4,377,736 Special Mention — — 1,084 13,665 12,401 2,218 — 29,368 Substandard 96 102 7,614 11,602 31,917 13,404 — 64,735 Doubtful — — — — — — — — Total loans $ 266,154 $ 553,341 $ 1,147,631 $ 753,896 $ 1,590,708 $ 160,109 $ — $ 4,471,839 Current period gross charge-offs $ — $ 368 $ 1,212 $ 2,208 $ 2,113 $ — $ — $ 5,901 The following tables summarize the Company’s loan portfolio by credit quality indicator as of December 31, 2023: Term Loans by Origination Year (In thousands) 2023 2022 2021 2020 2019 & Prior Revolving loans Revolving Loans Converted to Term Total Commercial and Industrial: Pass $ 130,568 $ 220,552 $ 192,682 $ 117,966 $ 141,542 $ 138,003 $ — $ 941,313 Special Mention — — 16,692 3,975 934 4,222 — 25,823 Substandard — 720 — 5,143 16,927 21,072 — 43,862 Doubtful — — — — — — — — Total commercial and industrial $ 130,568 $ 221,272 $ 209,374 $ 127,084 $ 159,403 $ 163,297 $ — $ 1,010,998 Current period gross charge-offs $ — $ — $ — $ — $ 1,726 $ — $ — $ 1,726 Multifamily: Pass $ 193,827 $ 382,652 $ 45,287 $ 138,131 $ 377,554 $ 2 $ — $ 1,137,453 Special Mention — — — — 8,373 — — 8,373 Substandard — — — — 2,294 — — 2,294 Doubtful — — — — — — — — Total multifamily $ 193,827 $ 382,652 $ 45,287 $ 138,131 $ 388,221 $ 2 $ — $ 1,148,120 Current period gross charge-offs $ — $ — $ — $ — $ 2,367 $ — $ — $ 2,367 Commercial real estate: Pass $ 73,089 $ 42,824 $ 48,624 $ 36,478 $ 140,674 $ 3,456 $ — $ 345,145 Special Mention — — — — 3,797 — — 3,797 Substandard — — — 1,858 2,632 — — 4,490 Doubtful — — — — — — — — Total commercial real estate $ 73,089 $ 42,824 $ 48,624 $ 38,336 $ 147,103 $ 3,456 $ — $ 353,432 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — Construction and land development: Pass $ — $ — $ — $ — $ 7,261 $ 5,199 $ — $ 12,460 Special Mention — — — — — — — — Substandard — — — — — 11,166 — 11,166 Doubtful — — — — — — — — Total construction and land development $ — $ — $ — $ — $ 7,261 $ 16,365 $ — $ 23,626 Current period gross charge-offs $ — $ — $ — $ — $ 4,664 $ — $ — $ 4,664 Residential real estate lending: Pass $ 137,167 $ 413,962 $ 328,952 $ 134,795 $ 403,508 $ — $ — $ 1,418,384 Special Mention — — — — — — — — Substandard — 3,232 1,003 399 2,578 — — 7,212 Doubtful — — — — — — — — Total residential real estate lending $ 137,167 $ 417,194 $ 329,955 $ 135,194 $ 406,086 $ — $ — $ 1,425,596 Current period gross charge-offs $ — $ — $ — $ — $ 65 $ — $ — $ 65 Consumer solar: Pass $ 30,412 $ 104,633 $ 131,008 $ 72,752 $ 67,044 $ — $ — $ 405,849 Special Mention — — — — — — — — Substandard — 529 1,080 527 275 — — 2,411 Doubtful — — — — — — — — Total consumer solar $ 30,412 $ 105,162 $ 132,088 $ 73,279 $ 67,319 $ — $ — $ 408,260 Current period gross charge-offs $ — $ 1,525 $ 3,034 $ 2,095 $ 312 $ — $ — $ 6,966 Consumer and other: Pass $ 2,730 $ 14,807 $ 11,866 $ — $ 11,780 $ — $ — $ 41,183 Special Mention — — — — — — — — Substandard 5 36 63 — — — — 104 Doubtful — — — — — — — — Total consumer and other $ 2,735 $ 14,843 $ 11,929 $ — $ 11,780 $ — $ — $ 41,287 Current period gross charge-offs $ 2 $ — $ — $ — $ 268 $ — $ — $ 270 Total Loans: Pass $ 567,793 $ 1,179,430 $ 758,419 $ 500,122 $ 1,149,363 $ 146,660 $ — $ 4,301,787 Special Mention — — 16,692 3,975 13,104 4,222 — 37,993 Substandard 5 4,517 2,146 7,927 24,706 32,238 — 71,539 Doubtful — — — — — — — — Total loans $ 567,798 $ 1,183,947 $ 777,257 $ 512,024 $ 1,187,173 $ 183,120 $ — $ 4,411,319 Current period gross charge-offs $ 2 $ 1,525 $ 3,034 $ 2,095 $ 9,402 $ — $ — $ 16,058
Schedule of Method for Evaluating Impairment and Allowance for Credit Loss Activity	The activities in the allowance by portfolio for the three months ended June 30, 2024 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 15,997 $ 4,448 $ 1,405 $ 853 $ 12,407 $ 26,775 $ 2,515 $ 64,400 Provision for (recovery of) credit losses (636) 223 97 (16) (647) 2,805 (60) 1,766 Charge-offs (821) — — — (4) (2,604) (10) (3,439) Recoveries 10 — — — 648 50 9 717 Ending balance - ACL $ 14,550 $ 4,671 $ 1,502 $ 837 $ 12,404 $ 27,026 $ 2,454 $ 63,444 The activities in the allowance by portfolio for the three months ended June 30, 2023 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 16,473 $ 7,030 $ 2,455 $ 354 $ 14,849 $ 22,762 $ 3,400 $ 67,323 Provision for (recovery of) credit losses 2,008 (633) (170) (30) 337 1,649 (45) 3,116 Charge-offs (1,726) — — — (1) (1,824) (221) (3,772) Recoveries 38 — — — 89 631 6 764 Ending Balance - ACL $ 16,793 $ 6,397 $ 2,285 $ 324 $ 15,274 $ 23,218 $ 3,140 $ 67,431 The activities in the allowance by portfolio for the six months ended June 30, 2024 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ACL $ 18,331 $ 2,133 $ 1,276 $ 24 $ 13,273 $ 27,978 $ 2,676 $ 65,691 Provision for (recovery of) credit losses (2,574) 2,538 226 813 (1,500) 3,287 (134) 2,656 Charge-offs (1,221) — — — (164) (4,410) (106) (5,901) Recoveries 14 — — — 795 171 18 998 Ending balance - ACL $ 14,550 $ 4,671 $ 1,502 $ 837 $ 12,404 $ 27,026 $ 2,454 $ 63,444 The activities in the allowance by portfolio for the six months ended June 30, 2023 are as follows: (In thousands) Commercial and Industrial Multifamily Commercial Real Estate Construction and Land Development Residential Real Estate Lending Consumer Solar Consumer and Other Total Allowance for credit losses: Beginning balance - ALLL $ 12,916 $ 7,104 $ 3,627 $ 825 $ 11,338 $ 6,867 $ 2,354 $ 45,031 Adoption of ASU No. 2016-13 3,816 (1,183) (1,321) (466) 3,068 16,166 1,149 21,229 Beginning balance - ACL 16,732 5,921 2,306 359 14,406 23,033 3,503 66,260 Provision for (recovery of) credit losses 1,745 1,603 (21) (35) 600 2,974 (138) 6,728 Charge-offs (1,726) (1,127) — — (59) (3,631) (239) (6,782) Recoveries 42 — — — 327 842 14 1,225 Ending Balance - ACL $ 16,793 $ 6,397 $ 2,285 $ 324 $ 15,274 $ 23,218 $ 3,140 $ 67,431 The amortized cost basis of loans on nonaccrual status and the specific allowance as of December 31, 2023 are as follows: Nonaccrual with No Allowance Nonaccrual with Allowance Reserve (In thousands) Commercial and industrial $ 612 $ 6,921 $ 4,485 Commercial real estate 4,490 — — Construction and land development 11,166 — — Total commercial portfolio 16,268 6,921 4,485 Residential real estate lending 7,218 — — Consumer solar 2,673 — — Consumer and other 103 — — Total retail portfolio 9,994 — — $ 26,262 $ 6,921 $ 4,485 The below table summarizes collateral dependent loans which were individually evaluated to determine expected credit losses as of June 30, 2024: Real Estate Collateral Dependent Associated Allowance for Credit Losses (In thousands) Commercial real estate $ 4,231 $ — Construction and land development 16,318 817 $ 20,549 $ 817 The below table summarizes collateral dependent loans which were individually evaluated to determine expected credit losses as of December 31, 2023: Real Estate Collateral Dependent Associated Allowance for Credit Losses (In thousands) Commercial real estate $ 4,490 $ — Construction and land development 16,365 — $ 20,855 $ —
Financing Receivable, Nonaccrual	The amortized cost basis of loans on nonaccrual status and the specific allowance as of June 30, 2024 are as follows: Nonaccrual with No Allowance Nonaccrual with Allowance Reserve (In thousands) Commercial and industrial $ 563 $ 7,865 $ 5,170 Commercial real estate 4,231 — — Construction and land development 8,804 2,315 817 Total commercial portfolio 13,598 10,180 5,987 Residential real estate lending 7,756 — — Consumer solar 2,794 — — Consumer and other 374 — — Total retail portfolio 10,924 — — $ 24,522 $ 10,180 $ 5,987

DEPOSITS (Tables)

DEPOSITS (Tables)	6 Months Ended
	Jun. 30, 2024
Statistical Disclosure for Banks [Abstract]
Schedule of Deposits	Deposits are summarized as follows: June 30, 2024 December 31, 2023 Amount Weighted Average Rate Amount Weighted Average Rate (In thousands) Non-interest-bearing demand deposit accounts $ 3,445,068 0.00 % $ 2,940,398 0.00 % NOW accounts 192,452 1.07 % 200,382 0.99 % Money market deposit accounts 3,093,644 3.08 % 3,100,681 2.89 % Savings accounts 336,943 1.67 % 340,860 1.20 % Time deposits 227,437 3.50 % 187,457 3.01 % Brokered certificates of deposit ("CDs") 153,444 4.98 % 242,210 5.09 % Total deposits $ 7,448,988 1.59 % $ 7,011,988 1.62 %
Schedule of Maturities of Time Deposits	The scheduled maturities of time deposits and brokered CDs as of June 30, 2024 are as follows: (In thousands) Balance 2024 $ 159,294 2025 99,340 2026 47,174 2027 39,956 2028 26,885 Thereafter 8,232 Total $ 380,881

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Factors Used in Earnings Per Share Calculation	Following is a table setting forth the factors used in the earnings per share computation follow: Three Months Six Months Ended 2024 2023 2024 2023 (In thousands, except per share amounts) Net income attributable to Amalgamated Financial Corp. $ 26,753 $ 21,642 $ 54,002 $ 42,976 Dividends paid on preferred stock — — — — Income attributable to common stock $ 26,753 $ 21,642 54,002 42,976 Weighted average common shares outstanding, basic 30,551 30,619 30,513 30,662 Basic earnings per common share $ 0.88 $ 0.71 $ 1.77 $ 1.40 Income attributable to common stock $ 26,753 $ 21,642 54,002 42,976 Weighted average common shares outstanding, basic 30,551 30,619 30,513 30,662 Incremental shares from assumed conversion of options and RSUs 281 157 276 158 Weighted average common shares outstanding, diluted 30,832 30,776 30,789 30,820 Diluted earnings per common share $ 0.87 $ 0.70 $ 1.75 $ 1.39

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the status of the Company’s options as of June 30, 2024 follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Intrinsic Value (in thousands) Outstanding, January 1, 2024 342,260 $ 13.17 2.6 years Granted — — — Forfeited/ Expired — — — Exercised (153,680) 12.67 — Outstanding, June 30, 2024 188,580 13.58 2.5 years $ 2,606 Vested and Exercisable, June 30, 2024 188,580 $ 13.58 2.5 years $ 2,606
Schedule of Restricted Stock Unit Activity	A summary of the status of the Company’s time-based vesting RSUs for the six months ended June 30, 2024 follows: Shares Grant Date Fair Value Unvested, January 1, 2024 291,762 $ 19.48 Awarded 187,611 23.47 Forfeited/Expired — — Vested (156,605) 17.47 Unvested, June 30, 2024 322,768 $ 22.77 A summary of the status of the Company’s performance-based vesting RSUs for the six months ended June 30, 2024 follows: Shares Grant Date Fair Value Unvested, January 1, 2024 125,963 $ 19.68 Awarded 140,157 22.45 Forfeited/Expired — — Vested (23,880) 14.97 Unvested, June 30, 2024 242,240 $ 21.74
Schedule of Shares Purchased Under the ESPP since Inception	The below following summarizes the shares purchased under the ESPP since the inception of the plan: Number of Shares Shares available for purchase at December 31, 2023 424,848 Purchases during the three months ended: March 31, 2024 (10,175) June 30, 2024 (7,525) Year-to-date purchases (17,700) Remaining shares available for purchase at June 30, 2024 407,148

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring Basis	The following summarizes those financial instruments measured at fair value on a recurring basis in the Consolidated Statements of Financial Condition as of the dates indicated, categorized by the relevant class of investment and level of the fair value hierarchy: June 30, 2024 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets: Available for sale securities: Traditional securities: GSE certificates & CMOs $ — $ 597,486 $ — $ 597,486 Non-GSE certificates & CMOs — 194,582 — 194,582 ABS — 676,781 — 676,781 Corporate — 108,569 — 108,569 Other 198 3,722 — 3,920 PACE assessments: Residential PACE assessments — — 112,923 112,923 Other assets - Cash flow hedges — 823 — 823 Total assets carried at fair value $ 198 $ 1,581,963 $ 112,923 $ 1,695,084 Financial liabilities: Other liabilities - Cash flow hedges — 43 — 43 Total liabilities carried at fair value $ — $ 43 $ — $ 43 December 31, 2023 (In thousands) Level 1 Level 2 Level 3 Total Financial Assets: Available for sale securities: Traditional securities: GSE certificates & CMOs $ — $ 480,615 $ — $ 480,615 Non-GSE certificates & CMOs — 196,860 — 196,860 ABS — 627,635 — 627,635 Corporate — 120,741 — 120,741 Other 199 3,689 — 3,888 PACE assessments: Residential PACE assessments — — 53,303 53,303 Total assets carried at fair value $ 199 $ 1,429,540 $ 53,303 $ 1,483,042
Schedule of Assets Measured at Fair Value on a Recurring Basis	The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended June 30, 2024 and June 30, 2023 : Residential PACE Assessments June 30, 2024 June 30, 2023 (In thousands) Balance of recurring Level 3 assets at January 1 $ 53,303 $ — Amortization included in interest income 1 — Change in unrealized holding gains/losses included in other comprehensive income (316) — Purchases 68,982 — Sales (6,284) — Principal paydowns (2,763) — Balance of recurring Level 3 assets at June 30 $ 112,923 $ —
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2024 and December 31, 2023: June 30, 2024 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Residential PACE assessments $ 112,923 Discounted cash flow Conditional prepayment rate 7.0%-25.0% (18.2%) December 31, 2023 Fair Value Valuation Technique Unobservable Input Range (Weighted Average) (In thousands) Residential PACE assessments $ 53,303 Discounted cash flow Conditional prepayment rate 7.0%-26.0% (16.3%)
Schedule of Assets Measured on Nonrecurring Basis	The following tables summarize assets measured at fair value on a non-recurring basis in the Consolidated Statements of Financial Condition as of the dates indicated, categorized by the relevant class of investment and level of the fair value hierarchy: June 30, 2024 (In thousands) Carrying Value Level 1 Level 2 Level 3 Estimated Fair Value Fair Value Measurements: Individually analyzed loans $ 1,499 $ — $ — $ 1,499 $ 1,499
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: June 30, 2024 (In thousands) Carrying Value Level 1 Level 2 Level 3 Estimated Fair Value Financial assets: Cash and cash equivalents $ 57,993 $ 57,993 $ — $ — $ 57,993 Held-to-maturity securities 1,660,582 — 563,074 937,133 1,500,207 Loans held for sale 1,926 — — 1,926 1,926 Loans receivable, net 4,408,395 — — 4,121,111 4,121,111 Resell agreements 137,461 — — 137,461 137,461 Accrued interest receivable 52,575 50 13,096 39,429 52,575 Financial liabilities: Deposits payable on demand $ 7,068,107 $ — $ 7,068,107 $ — $ 7,068,107 Time deposits and brokered CDs 380,881 — 378,565 — 378,565 FHLBNY advances 9,135 — 8,931 — 8,931 Subordinated debt, net 68,117 — 57,900 — 57,900 Accrued interest payable 3,474 — 3,474 — 3,474 December 31, 2023 (In thousands) Carrying Level 1 Level 2 Level 3 Estimated Financial assets: Cash and cash equivalents $ 90,570 $ 90,570 $ — $ — $ 90,570 Held-to-maturity securities 1,696,834 — 575,418 974,091 1,549,509 Loans held for sale 1,817 — 1,817 1,817 Loans receivable, net 4,345,628 — — 4,029,142 4,029,142 Resell agreements 50,000 — — 50,000 50,000 Accrued interest receivable 55,484 43 12,645 42,796 55,484 Financial liabilities: Deposits payable on demand $ 6,582,321 $ — $ 6,582,321 $ — $ 6,582,321 Time deposits and brokered CDs 429,667 — 428,116 — 428,116 FHLBNY advances 4,381 — 4,381 — 4,381 Other borrowings 230,000 — 229,711 — 229,711 Subordinated debt, net 70,546 — 56,790 — 56,790 Accrued interest payable 12,270 — 12,270 — 12,270

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Financial Instruments Outstanding Representing Credit Risk	The following financial instruments were outstanding whose contract amounts represent credit risk as of the related periods: June 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 595,448 $ 514,206 Standby letters of credit 30,341 31,678 Total $ 625,789 $ 545,884

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Lease Cost and Other Information	The following table summarizes our lease cost and other operating lease information: Three Months Ended Six Months Ended 2024 2023 2024 2023 (In thousands) Operating lease cost $ 1,826 $ 1,795 $ 3,666 $ 3,572 Cash paid for amounts included in the measurement of operating leases liability $ 2,681 $ 2,816 $ 6,867 $ 5,629 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 as of June 30, 2024: (In thousands) As of June 30, 2024 2024 $ 5,394 2025 10,797 2026 8,881 2027 747 2028 — Thereafter — Total undiscounted operating lease payments 25,819 Less: present value adjustment 1,035 Total Operating leases liability $ 24,784

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Estimated Amortization Expense	The following table reflects the estimated amortization expense, comprised entirely by the Company’s core deposit intangible asset, for the next five years and thereafter: (In thousands) Total 2024 $ 365 2025 574 2026 419 2027 265 2028 111 Thereafter 118 Total $ 1,852

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	June 30, 2024 December 31, 2023 (In thousands) Unconsolidated Variable Interest Entities Tax credit investments included in equity investments $ 8,960 $ 9,024 Loan commitments 51,216 52,222 Funded portion of loan commitments 51,216 52,222 The following table summarizes the tax benefits conveyed by the Company’s solar generation VIE investments: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Tax credits and other tax benefits recognized $ 855 $ 813 $ 1,718 $ 1,600

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments on Statements of Financial Condition	The tables below present the fair value of the Company’s derivative assets and liabilities as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 (In thousands) Notional Amount Fair Value Assets Notional Amount Fair Value Assets Derivatives designated as hedging instruments: Cash flow hedges - interest rate products $ 80,000 $ 823 $ — $ — June 30, 2024 December 31, 2023 (In thousands) Notional Amount Fair Value Liabilities Notional Amount Fair Value Liabilities Derivatives designated as hedging instruments: Cash flow hedges - interest rate products $ 100,000 $ 43 $ — $ —
Schedule of Derivative Instruments on Statements of Operations	The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three and six months ended June 30, 2024 and 2023. Three months ended Three months ended June 30, 2024 June 30, 2023 (In thousands) Interest Income Interest Expense Interest Income Interest Expense Gain or (loss) on cash flow hedging relationships: Gain (loss) reclassified from accumulated OCI into income $ (33) $ — $ — $ — Six months ended Six months ended June 30, 2024 June 30, 2023 (In thousands) Interest Income Interest Expense Interest Income Interest Expense Gain or (loss) on cash flow hedging relationships: Gain (loss) reclassified from accumulated OCI into income $ (33) $ — $ — $ —
Schedule of Derivative Instruments Effect on Accumulated Other Comprehensive Income (Loss)	The table below presents the effect of the cash flow hedge accounting on accumulated other comprehensive income (loss) for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2024 2023 2024 2023 Gain (loss) recognized in other comprehensive income (loss) $ (44) $ — $ (44) $ — Gain (loss) reclassified from other comprehensive income into interest income (33) — (33) —

BASIS OF PRESENTATION AND CON_4

BASIS OF PRESENTATION AND CONSOLIDATION - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net of tax decrease to retained earnings	$ (646,112)	$ (616,938)	$ (585,364)	$ (528,614)	$ (519,158)		$ (508,955)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net of tax decrease to retained earnings	$ (435,202)	$ (412,190)	$ (388,033)	$ (349,204)	$ (330,673)		$ (330,275)
Retained Earnings | Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net of tax decrease to retained earnings						$ 17,825

BASIS OF PRESENTATION AND CON_5

BASIS OF PRESENTATION AND CONSOLIDATION - Adoption of ASU (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 01, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on held-to-maturity securities		$ (708)	$ (707)	$ (708)	$ (707)	$ (710)	$ (721)	$ (687)	$ 0
Allowance for credit losses on loans		(63,444)	(67,431)	(63,444)	(67,431)	(64,400)	(65,691)	(67,323)	(45,031)
Allowance for credit losses on off-balance sheet credit exposures		(6,300)		(6,300)			(4,200)
Tax Impact
Income tax expense		9,024	7,818	20,301	15,383
Net Adjustment to Retained Earnings		(646,112)	(528,614)	(646,112)	(528,614)	(616,938)	(585,364)	(519,158)	(508,955)
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on held-to-maturity securities	$ (668)
Allowance for credit losses on loans	(21,229)
Allowance for credit losses on off-balance sheet credit exposures	(2,705)
Total Day 1 Adjustment for Adoption of ASU 2016-13	24,602
Tax Impact
Allowance for credit losses on held-to-maturity securities	(184)
Allowance for credit losses on loans	(5,849)
Allowance for credit losses on off-balance sheet credit exposures	(744)
Income tax expense	(6,777)
Retained Earnings
Tax Impact
Net Adjustment to Retained Earnings		$ (435,202)	$ (349,204)	$ (435,202)	$ (349,204)	$ (412,190)	$ (388,033)	$ (330,673)	$ (330,275)
Retained Earnings | Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on held-to-maturity securities	484
Allowance for credit losses on loans	15,380
Allowance for credit losses on off-balance sheet credit exposures	1,961
Tax Impact
Net Adjustment to Retained Earnings	$ 17,825

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Accumulated Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 616,938	$ 519,158	$ 585,364	$ 508,955
Current Period Change	7,281	(10,899)	17,095	4,822
Income Tax Effect	(1,988)	3,002	(4,670)	(1,329)
Ending balance	646,112	528,614	646,112	528,614
Accumulated Other Comprehensive Loss, net of income taxes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(78,872)	(97,317)	(86,004)	(108,707)
Current Period Change			17,095	4,822
Income Tax Effect			(4,670)	(1,329)
Ending balance	(73,579)	(105,214)	(73,579)	(105,214)
Total unrealized gains (losses) on Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(1,481)	(1,652)
Current Period Change	44	49	87	97
Income Tax Effect	(12)	(14)	(23)	(27)
Ending balance	(1,417)	(1,582)	(1,417)	(1,582)
Unrealized gains (losses) on available for sale securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(74,348)	(95,539)
Current Period Change			15,827	3,771
Income Tax Effect			(4,323)	(1,039)
Ending balance	(62,844)	(92,807)	(62,844)	(92,807)
Unaccreted unrealized loss on securities transferred to held-to-maturity
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(10,175)	(11,516)
Current Period Change			1,192	954
Income Tax Effect			(327)	(263)
Ending balance	(9,310)	(10,825)	(9,310)	(10,825)
Unrealized gains (losses) on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			0	0
Current Period Change	(11)	0	(11)	0
Income Tax Effect	3	0	3	0
Ending balance	$ (8)	$ 0	$ (8)	$ 0

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before tax	$ 7,281	$ (10,899)	$ 17,095	$ 4,822
Income tax benefit (expense)	(1,988)	3,002	(4,670)	(1,329)
Total other comprehensive income (loss), net of taxes	5,293	(7,897)	12,425	3,493
Accumulated Other Comprehensive Loss, net of income taxes
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before tax			17,095	4,822
Income tax benefit (expense)			(4,670)	(1,329)
Total other comprehensive income (loss), net of taxes	5,293	(7,897)	12,425	3,493
Total unrealized gains (losses) on Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before tax	44	49	87	97
Income tax benefit (expense)	(12)	(14)	(23)	(27)
Total other comprehensive income (loss), net of taxes	32	35	64	70
Unrealized gains (losses) on available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before tax	7,248	(10,948)	17,019	4,725
Income tax benefit (expense)	(1,979)	3,016	(4,650)	(1,302)
Total other comprehensive income (loss), net of taxes	5,269	(7,932)	12,369	3,423
Unrealized holding gains (losses) on available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	3,960	(11,681)	10,362	418
Reclassification adjustment for losses realized in loss on sale of securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment	2,691	267	5,465	3,353
Accretion of net unrealized loss on securities transferred to held-to-maturity
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment	597	466	1,192	954
Other comprehensive income (loss), before tax			1,192	954
Income tax benefit (expense)			(327)	(263)
Unrealized gains (losses) on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	(44)	0	(44)	0
Other comprehensive income (loss), before tax	(11)	0	(11)	0
Income tax benefit (expense)	3	0	3	0
Total other comprehensive income (loss), net of taxes	(8)	0	(8)	0
Reclassification adjustment for losses (gains) realized in income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment	33	0	33	0
Postretirement Benefit Plans | Change in obligation for postretirement benefits and for prior service credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	37	40	73	80
Postretirement Benefit Plans | Reclassification adjustment for prior service expense included in compensation and employee benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment	7	7	14	14
Other Postretirement Benefits Plan | Total unrealized gains (losses) on Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other comprehensive income (loss), before tax	$ 0	$ 2	$ 0	$ 3

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Fair Value of AFS Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 1,780,728	$ 1,585,334
Gross Unrealized Gains	2,845	539
Gross Unrealized Losses	(89,312)	(102,831)
Fair Value	1,694,261	1,483,042
Traditional securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,667,929	1,532,471
Gross Unrealized Gains	2,721	99
Gross Unrealized Losses	(89,312)	(102,831)
Fair Value	1,581,338	1,429,739
GSE certificates & CMOs
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	632,026	521,101
Gross Unrealized Gains	1,509	59
Gross Unrealized Losses	(36,049)	(40,545)
Fair Value	597,486	480,615
Non-GSE certificates & CMOs
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	214,726	218,550
Gross Unrealized Gains	62	0
Gross Unrealized Losses	(20,206)	(21,690)
Fair Value	194,582	196,860
ABS
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	691,477	648,585
Gross Unrealized Gains	1,150	40
Gross Unrealized Losses	(15,846)	(20,990)
Fair Value	676,781	627,635
Corporate
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	125,503	140,038
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(16,934)	(19,297)
Fair Value	108,569	120,741
Other
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	4,197	4,197
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(277)	(309)
Fair Value	3,920	3,888
Property Assessed Clean Energy ("PACE") assessments
Debt Securities, Available-for-Sale [Line Items]
Fair Value	112,923	53,303
Residential PACE assessments
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	112,799	52,863
Gross Unrealized Gains	124	440
Gross Unrealized Losses	0	0
Fair Value	$ 112,923	$ 53,303

INVESTMENT SECURITIES - Amort_2

INVESTMENT SECURITIES - Amortized Cost and Fair Value of HTM Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 1,661,290		$ 1,697,555
Gross Unrealized Gains	1,595		1,296
Gross Unrealized Losses	(162,678)		(149,342)
Fair Value	1,500,207		1,549,509
Allowance for credit losses	(708)	$ (710)	(721)	$ (707)	$ (687)	$ 0
Total held-to-maturity, net of allowance for credit losses	1,660,582		1,696,834
Traditional securities
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	606,066		620,286
Gross Unrealized Gains	1,595		1,296
Gross Unrealized Losses	(44,587)		(46,164)
Fair Value	563,074		575,418
Allowance for credit losses	(53)		(54)
Total held-to-maturity, net of allowance for credit losses	606,013		620,232
GSE certificates & CMOs
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	191,359		194,329
Gross Unrealized Gains	908		1,099
Gross Unrealized Losses	(19,940)		(19,693)
Fair Value	172,327		175,735
Non-GSE certificates & CMOs
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	75,979		79,406
Gross Unrealized Gains	0		9
Gross Unrealized Losses	(6,871)		(6,686)
Fair Value	69,108		72,729
ABS
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	272,508		279,916
Gross Unrealized Gains	546		23
Gross Unrealized Losses	(6,489)		(8,678)
Fair Value	266,565		271,261
Municipal
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	66,220		66,635
Gross Unrealized Gains	141		165
Gross Unrealized Losses	(11,287)		(11,107)
Fair Value	55,074		55,693
Property Assessed Clean Energy ("PACE") assessments
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	1,055,224		1,077,269
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(118,091)		(103,178)
Fair Value	937,133		974,091
Allowance for credit losses	(655)		(667)
Total held-to-maturity, net of allowance for credit losses	1,054,569		1,076,602
Commercial PACE assessments
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	256,663		258,306
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(34,409)		(29,211)
Fair Value	222,254		229,095
Allowance for credit losses	(256)	(256)	(258)	(262)	(262)	0
Residential PACE assessments
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	798,561		818,963
Gross Unrealized Gains	0		0
Gross Unrealized Losses	(83,682)		(73,967)
Fair Value	714,879		744,996
Allowance for credit losses	$ (399)	$ (401)	$ (409)	$ (388)	$ (367)	$ 0

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]
Available for sale securities, at fair value			$ 1,694,261	$ 1,483,042
Charge off	$ 1,200	$ 1,200
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]			Other assets	Other assets
Accrued interest receivable			$ 31,200	$ 35,100
Traditional securities
Debt Securities, Available-for-Sale [Line Items]
Available for sale securities, at fair value			1,581,338	$ 1,429,739
Traditional securities | Federal Home Loan Bank Advances | Asset Pledged as Collateral
Debt Securities, Available-for-Sale [Line Items]
Available for sale securities, at fair value			1,320,000
Traditional securities | Federal Home Loan Bank Advances | Asset Pledged as Collateral without Right
Debt Securities, Available-for-Sale [Line Items]
Held to maturity, at fair value			$ 535,400

INVESTMENT SECURITIES - AFS and

INVESTMENT SECURITIES - AFS and HTM Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost
Amortized Cost	$ 1,780,728	$ 1,585,334
Fair Value
Fair Value	1,694,261	1,483,042
Amortized Cost
Amortized Cost	1,661,290	1,697,555
Fair Value
Fair Value	1,500,207	$ 1,549,509
Excluding Mortgage-Backed Securities
Amortized Cost
Due within one year	3,000
Due after one year through five years	71,760
Due after five years through ten years	270,856
Due after ten years	588,360
Amortized Cost	933,976
Fair Value
Due within one year	2,968
Due after one year through five years	67,885
Due after five years through ten years	257,783
Due after ten years	573,557
Fair Value	902,193
Amortized Cost
Due within one year	0
Due after one year through five years	9,448
Due after five years through ten years	161,422
Due after ten years	1,223,082
Amortized Cost	1,393,952
Fair Value
Due within one year	0
Due after one year through five years	9,134
Due after five years through ten years	161,263
Due after ten years	1,088,375
Fair Value	$ 1,258,772

INVESTMENT SECURITIES - Proceed

INVESTMENT SECURITIES - Proceeds Received and Gains (Losses) Realized on Sale of Available for Sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 140,343	$ 29,232	$ 219,170	$ 174,537
Realized gains	4	0	4	0
Realized losses	(2,695)	(267)	(5,469)	(3,353)
Net realized losses	$ (2,691)	$ (267)	$ (5,465)	$ (3,353)

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Unrealized Losses on Available for Sale Securities and Held-to-Maturity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	$ 216,446	$ 53,133
Available for sale, less than 12 months, unrealized losses	9,721	122
Available for sale, 12 months or longer, fair value	782,641	1,308,596
Available for sale, 12 months or longer, unrealized losses	79,591	102,709
Available for sale, total fair value	999,087	1,361,729
Available for sale, total unrealized losses	89,312	102,831
GSE certificates & CMOs
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	135,942	0
Available for sale, less than 12 months, unrealized losses	7,926	0
Available for sale, 12 months or longer, fair value	275,372	460,239
Available for sale, 12 months or longer, unrealized losses	28,123	40,545
Available for sale, total fair value	411,314	460,239
Available for sale, total unrealized losses	36,049	40,545
Non-GSE certificates & CMOs
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	11,587	0
Available for sale, less than 12 months, unrealized losses	463	0
Available for sale, 12 months or longer, fair value	171,965	196,860
Available for sale, 12 months or longer, unrealized losses	19,743	21,690
Available for sale, total fair value	183,552	196,860
Available for sale, total unrealized losses	20,206	21,690
ABS
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	58,021	53,133
Available for sale, less than 12 months, unrealized losses	531	122
Available for sale, 12 months or longer, fair value	233,711	526,868
Available for sale, 12 months or longer, unrealized losses	15,315	20,868
Available for sale, total fair value	291,732	580,001
Available for sale, total unrealized losses	15,846	20,990
Corporate
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	10,698	0
Available for sale, less than 12 months, unrealized losses	799	0
Available for sale, 12 months or longer, fair value	97,871	120,741
Available for sale, 12 months or longer, unrealized losses	16,135	19,297
Available for sale, total fair value	108,569	120,741
Available for sale, total unrealized losses	16,934	19,297
Other
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Available for sale, less than 12 months, fair value	198	0
Available for sale, less than 12 months, unrealized losses	2	0
Available for sale, 12 months or longer, fair value	3,722	3,888
Available for sale, 12 months or longer, unrealized losses	275	309
Available for sale, total fair value	3,920	3,888
Available for sale, total unrealized losses	$ 277	$ 309

INVESTMENT SECURITIES - Allowan

INVESTMENT SECURITIES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Allowance for credit losses:
Beginning balance	$ 710	$ 687	$ 721	$ 0
Provision for (recovery of) credit losses	(2)	20	(13)	65
Charge-offs	0	0	0	(26)
Recoveries	0	0	0	0
Ending Balance	708	707	708	707
Adoption of ASU No. 2016-13
Allowance for credit losses:
Beginning balance				668
Non-GSE commercial certificates
Allowance for credit losses:
Beginning balance	53	58	54	0
Provision for (recovery of) credit losses	0	(1)	(1)	(2)
Charge-offs	0	0	0	(26)
Recoveries	0	0	0	0
Ending Balance	53	57	53	57
Non-GSE commercial certificates | Adoption of ASU No. 2016-13
Allowance for credit losses:
Beginning balance				85
Commercial PACE
Allowance for credit losses:
Beginning balance	256	262	258	0
Provision for (recovery of) credit losses	0	0	(2)	7
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending Balance	256	262	256	262
Commercial PACE | Adoption of ASU No. 2016-13
Allowance for credit losses:
Beginning balance				255
Residential PACE
Allowance for credit losses:
Beginning balance	401	367	409	0
Provision for (recovery of) credit losses	(2)	21	(10)	60
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending Balance	$ 399	$ 388	$ 399	388
Residential PACE | Adoption of ASU No. 2016-13
Allowance for credit losses:
Beginning balance				$ 328

LOANS RECEIVABLE, NET - Schedul

LOANS RECEIVABLE, NET - Schedule of Loans Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	$ 4,471,839		$ 4,411,319
Allowance for credit losses	(63,444)	$ (64,400)	(65,691)	$ (67,431)	$ (67,323)	$ (45,031)
Loans receivable, net	4,408,395		4,345,628
Commercial portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	2,643,683		2,536,176
Commercial portfolio | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	1,012,400		1,010,998
Allowance for credit losses	(14,550)	(15,997)	(18,331)	(16,793)	(16,473)	(12,916)
Commercial portfolio | Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	1,230,545		1,148,120
Allowance for credit losses	(4,671)	(4,448)	(2,133)	(6,397)	(7,030)	(7,104)
Commercial portfolio | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	377,484		353,432
Allowance for credit losses	(1,502)	(1,405)	(1,276)	(2,285)	(2,455)	(3,627)
Commercial portfolio | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	23,254		23,626
Allowance for credit losses	(837)	(853)	(24)	(324)	(354)	(825)
Commercial portfolio | Residential real estate lending
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	(12,404)	(12,407)	(13,273)
Retail portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	1,828,156		1,875,143
Retail portfolio | Residential real estate lending
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	1,404,624		1,425,596
Allowance for credit losses				(15,274)	(14,849)	(11,338)
Retail portfolio | Consumer solar
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	385,567		408,260
Allowance for credit losses	(27,026)	$ (26,775)	(27,978)	$ (23,218)	$ (22,762)	$ (6,867)
Retail portfolio | Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	$ 37,965		$ 41,287

LOANS RECEIVABLE, NET - Narrati

LOANS RECEIVABLE, NET - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Modified [Line Items]
Total loans receivable	$ 4,471,839	$ 4,411,319
Total loans receivable, net	4,408,395	4,345,628
Related party loans outstanding	1,600	1,700
Nonperforming Financial Instruments
Financing Receivable, Modified [Line Items]
Total loans receivable, net	1,000	1,000
Asset Pledged as Collateral without Right | Federal Home Loan Bank Advances
Financing Receivable, Modified [Line Items]
Total loans receivable, net	2,450,000	2,350,000
Commercial portfolio
Financing Receivable, Modified [Line Items]
Total loans receivable	2,643,683	2,536,176
Commercial portfolio | Commercial and industrial
Financing Receivable, Modified [Line Items]
Total loans receivable	1,012,400	1,010,998
Commercial portfolio | Commercial and industrial | Loans Insured or Guaranteed by US Government Authorities
Financing Receivable, Modified [Line Items]
Total loans receivable	$ 202,400	$ 225,600

LOANS RECEIVABLE, NET - Sched_2

LOANS RECEIVABLE, NET - Schedule of Quality of Bank's Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	$ 4,471,839	$ 4,411,319
Non- Accrual	34,702	33,183
90 Days or More Delinquent and Still Accruing Interest	0	0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	7,550	27,751
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	3,348	5,320
Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	45,600	66,254
Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	4,426,239	4,345,065
Commercial portfolio
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,643,683	2,536,176
Non- Accrual	23,778	23,189
90 Days or More Delinquent and Still Accruing Interest	0	0
Commercial portfolio | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	808	17,433
Commercial portfolio | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	200	168
Commercial portfolio | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	24,786	40,790
Commercial portfolio | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,618,897	2,495,386
Commercial portfolio | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,012,400	1,010,998
Non- Accrual	8,428	7,533
90 Days or More Delinquent and Still Accruing Interest	0	0
Commercial portfolio | Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	808	266
Commercial portfolio | Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	200	168
Commercial portfolio | Commercial and industrial | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	9,436	7,967
Commercial portfolio | Commercial and industrial | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,002,964	1,003,031
Commercial portfolio | Multifamily
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,230,545	1,148,120
Non- Accrual	0	0
90 Days or More Delinquent and Still Accruing Interest	0	0
Commercial portfolio | Multifamily | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	11,968
Commercial portfolio | Multifamily | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Commercial portfolio | Multifamily | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	11,968
Commercial portfolio | Multifamily | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,230,545	1,136,152
Commercial portfolio | Commercial real estate
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	377,484	353,432
Non- Accrual	4,231	4,490
90 Days or More Delinquent and Still Accruing Interest	0	0
Commercial portfolio | Commercial real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Commercial portfolio | Commercial real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Commercial portfolio | Commercial real estate | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	4,231	4,490
Commercial portfolio | Commercial real estate | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	373,253	348,942
Commercial portfolio | Construction and land development
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	23,254	23,626
Non- Accrual	11,119	11,166
90 Days or More Delinquent and Still Accruing Interest	0	0
Commercial portfolio | Construction and land development | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	5,199
Commercial portfolio | Construction and land development | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	0	0
Commercial portfolio | Construction and land development | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	11,119	16,365
Commercial portfolio | Construction and land development | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	12,135	7,261
Retail portfolio
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,828,156	1,875,143
Non- Accrual	10,924	9,994
90 Days or More Delinquent and Still Accruing Interest	0	0
Retail portfolio | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	6,742	10,318
Retail portfolio | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	3,148	5,152
Retail portfolio | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	20,814	25,464
Retail portfolio | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,807,342	1,849,679
Retail portfolio | Residential real estate lending
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,404,624	1,425,596
Non- Accrual	7,756	7,218
90 Days or More Delinquent and Still Accruing Interest	0	0
Retail portfolio | Residential real estate lending | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	3,671	6,995
Retail portfolio | Residential real estate lending | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,470	2,133
Retail portfolio | Residential real estate lending | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	12,897	16,346
Retail portfolio | Residential real estate lending | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,391,727	1,409,250
Retail portfolio | Consumer solar
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	385,567	408,260
Non- Accrual	2,794	2,673
90 Days or More Delinquent and Still Accruing Interest	0	0
Retail portfolio | Consumer solar | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	2,643	2,569
Retail portfolio | Consumer solar | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,234	2,788
Retail portfolio | Consumer solar | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	6,671	8,030
Retail portfolio | Consumer solar | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	378,896	400,230
Retail portfolio | Consumer and Other
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	37,965	41,287
Non- Accrual	374	103
90 Days or More Delinquent and Still Accruing Interest	0	0
Retail portfolio | Consumer and Other | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	428	754
Retail portfolio | Consumer and Other | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	444	231
Retail portfolio | Consumer and Other | Total Past Due and Non-Accrual
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	1,246	1,088
Retail portfolio | Consumer and Other | Current
Financing Receivable, Past Due [Line Items]
Total Loans Receivable	$ 36,719	$ 40,199

LOANS RECEIVABLE, NET - Loan Mo

LOANS RECEIVABLE, NET - Loan Modification (Details) - Extended Maturity - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commercial and industrial
Financing Receivable, Modified [Line Items]
Amortized Cost	$ 479	$ 0	$ 479	$ 583
% of Portfolio	0%	0%	0%	0.10%
Multifamily
Financing Receivable, Modified [Line Items]
Amortized Cost	$ 2,277	$ 327	$ 2,277	$ 327
% of Portfolio	0.20%	0%	0.20%	0%
Commercial real estate
Financing Receivable, Modified [Line Items]
Amortized Cost	$ 783	$ 1,059	$ 783	$ 1,907
% of Portfolio	0.20%	0.30%	0.20%	0.60%
Construction and land development
Financing Receivable, Modified [Line Items]
Amortized Cost		$ 0		$ 6,887
% of Portfolio		0%		24%

LOANS RECEIVABLE, NET - Term Ex

LOANS RECEIVABLE, NET - Term Extension (Details) - Commercial portfolio	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commercial and industrial
Financing Receivable, Modified [Line Items]
Term Extension	8 months 12 days		8 months 12 days	1 year
Multifamily
Financing Receivable, Modified [Line Items]
Term Extension	3 months 18 days	1 year	3 months 18 days	1 year
Commercial real estate
Financing Receivable, Modified [Line Items]
Term Extension	6 months	1 year	6 months	9 months 18 days
Construction and land development
Financing Receivable, Modified [Line Items]
Term Extension				9 months 18 days

LOANS RECEIVABLE, NET - Quality

LOANS RECEIVABLE, NET - Quality Indicator, Current Period (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 266,154		$ 266,154		$ 567,798
2023	553,341		553,341		1,183,947
2022	1,147,631		1,147,631		777,257
2021	753,896		753,896		512,024
2020 & Prior	1,590,708		1,590,708		1,187,173
Revolving loans	160,109		160,109		183,120
Revolving Loans Converted to Term	0		0		0
Total	4,471,839		4,471,839		4,411,319
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Total	3,439	$ 3,772	5,901	$ 6,782
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	266,058		266,058		567,793
2023	553,239		553,239		1,179,430
2022	1,138,933		1,138,933		758,419
2021	728,629		728,629		500,122
2020 & Prior	1,546,390		1,546,390		1,149,363
Revolving loans	144,487		144,487		146,660
Revolving Loans Converted to Term	0		0		0
Total	4,377,736		4,377,736		4,301,787
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		2
2023			368		1,525
2022			1,212		3,034
2021			2,208		2,095
2020 & Prior			2,113		9,402
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total			5,901		16,058
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	1,084		1,084		16,692
2021	13,665		13,665		3,975
2020 & Prior	12,401		12,401		13,104
Revolving loans	2,218		2,218		4,222
Revolving Loans Converted to Term	0		0		0
Total	29,368		29,368		37,993
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	96		96		5
2023	102		102		4,517
2022	7,614		7,614		2,146
2021	11,602		11,602		7,927
2020 & Prior	31,917		31,917		24,706
Revolving loans	13,404		13,404		32,238
Revolving Loans Converted to Term	0		0		0
Total	64,735		64,735		71,539
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024	79,828		79,828		130,568
2023	123,780		123,780		221,272
2022	202,632		202,632		209,374
2021	212,749		212,749		127,084
2020 & Prior	253,754		253,754		159,403
Revolving loans	139,657		139,657		163,297
Revolving Loans Converted to Term	0		0		0
Total	1,012,400		1,012,400		1,010,998
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			359		0
2022			150		0
2021			0		0
2020 & Prior			712		1,726
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	821	1,726	1,221	1,726	1,726
Commercial portfolio | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	79,732		79,732		130,568
2023	123,780		123,780		220,552
2022	196,949		196,949		192,682
2021	190,751		190,751		117,966
2020 & Prior	232,178		232,178		141,542
Revolving loans	135,154		135,154		138,003
Revolving Loans Converted to Term	0		0		0
Total	958,544		958,544		941,313
Commercial portfolio | Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	1,084		1,084		16,692
2021	13,665		13,665		3,975
2020 & Prior	344		344		934
Revolving loans	2,218		2,218		4,222
Revolving Loans Converted to Term	0		0		0
Total	17,311		17,311		25,823
Commercial portfolio | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	96		96		0
2023	0		0		720
2022	4,599		4,599		0
2021	8,333		8,333		5,143
2020 & Prior	21,232		21,232		16,927
Revolving loans	2,285		2,285		21,072
Revolving Loans Converted to Term	0		0		0
Total	36,545		36,545		43,862
Commercial portfolio | Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
2024	96,876		96,876		193,827
2023	224,569		224,569		382,652
2022	375,639		375,639		45,287
2021	43,885		43,885		138,131
2020 & Prior	489,574		489,574		388,221
Revolving loans	2		2		2
Revolving Loans Converted to Term	0		0		0
Total	1,230,545		1,230,545		1,148,120
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			0		0
2022			0		0
2021			0		0
2020 & Prior			0		2,367
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	1,127	2,367
Commercial portfolio | Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	96,876		96,876		193,827
2023	224,569		224,569		382,652
2022	375,639		375,639		45,287
2021	43,885		43,885		138,131
2020 & Prior	478,983		478,983		377,554
Revolving loans	2		2		2
Revolving Loans Converted to Term	0		0		0
Total	1,219,954		1,219,954		1,137,453
Commercial portfolio | Multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	8,321		8,321		8,373
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	8,321		8,321		8,373
Commercial portfolio | Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	2,270		2,270		2,294
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	2,270		2,270		2,294
Commercial portfolio | Multifamily | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2024	58,761		58,761		73,089
2023	41,950		41,950		42,824
2022	41,800		41,800		48,624
2021	48,005		48,005		38,336
2020 & Prior	182,836		182,836		147,103
Revolving loans	4,132		4,132		3,456
Revolving Loans Converted to Term	0		0		0
Total	377,484		377,484		353,432
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			0		0
2022			0		0
2021			0		0
2020 & Prior			0		0
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	0	0
Commercial portfolio | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	58,761		58,761		73,089
2023	41,950		41,950		42,824
2022	41,800		41,800		48,624
2021	48,005		48,005		36,478
2020 & Prior	174,869		174,869		140,674
Revolving loans	4,132		4,132		3,456
Revolving Loans Converted to Term	0		0		0
Total	369,517		369,517		345,145
Commercial portfolio | Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	3,736		3,736		3,797
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	3,736		3,736		3,797
Commercial portfolio | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		1,858
2020 & Prior	4,231		4,231		2,632
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	4,231		4,231		4,490
Commercial portfolio | Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Construction and land development
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	6,936		6,936		7,261
Revolving loans	16,318		16,318		16,365
Revolving Loans Converted to Term	0		0		0
Total	23,254		23,254		23,626
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			0		0
2022			0		0
2021			0		0
2020 & Prior			0		4,664
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	0	4,664
Commercial portfolio | Construction and land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	6,936		6,936		7,261
Revolving loans	5,199		5,199		5,199
Revolving Loans Converted to Term	0		0		0
Total	12,135		12,135		12,460
Commercial portfolio | Construction and land development | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Construction and land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	11,119		11,119		11,166
Revolving Loans Converted to Term	0		0		0
Total	11,119		11,119		11,166
Commercial portfolio | Construction and land development | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Residential real estate lending
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Total	4		164
Retail portfolio | Residential real estate lending
Financing Receivable, Credit Quality Indicator [Line Items]
2024	30,385		30,385		137,167
2023	132,794		132,794		417,194
2022	414,237		414,237		329,955
2021	312,586		312,586		135,194
2020 & Prior	514,622		514,622		406,086
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	1,404,624		1,404,624		1,425,596
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			0		0
2022			0		0
2021			0		0
2020 & Prior			164		65
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total		1	164	59	65
Retail portfolio | Residential real estate lending | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	30,385		30,385		137,167
2023	132,794		132,794		413,962
2022	412,248		412,248		328,952
2021	310,226		310,226		134,795
2020 & Prior	511,331		511,331		403,508
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	1,396,984		1,396,984		1,418,384
Retail portfolio | Residential real estate lending | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Residential real estate lending | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		3,232
2022	1,989		1,989		1,003
2021	2,360		2,360		399
2020 & Prior	3,291		3,291		2,578
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	7,640		7,640		7,212
Retail portfolio | Residential real estate lending | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer solar
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		30,412
2023	28,291		28,291		105,162
2022	99,481		99,481		132,088
2021	125,249		125,249		73,279
2020 & Prior	132,546		132,546		67,319
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	385,567		385,567		408,260
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		0
2023			0		1,525
2022			1,062		3,034
2021			2,208		2,095
2020 & Prior			1,140		312
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	2,604	1,824	4,410	3,631	6,966
Retail portfolio | Consumer solar | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		30,412
2023	28,195		28,195		104,633
2022	98,550		98,550		131,008
2021	124,545		124,545		72,752
2020 & Prior	131,720		131,720		67,044
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	383,010		383,010		405,849
Retail portfolio | Consumer solar | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer solar | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	96		96		529
2022	931		931		1,080
2021	704		704		527
2020 & Prior	826		826		275
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	2,557		2,557		2,411
Retail portfolio | Consumer solar | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer and Other
Financing Receivable, Credit Quality Indicator [Line Items]
2024	304		304		2,735
2023	1,957		1,957		14,843
2022	13,842		13,842		11,929
2021	11,422		11,422		0
2020 & Prior	10,440		10,440		11,780
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	37,965		37,965		41,287
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2024			0		2
2023			9		0
2022			0		0
2021			0		0
2020 & Prior			97		268
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	10	$ 221	106	$ 239	270
Retail portfolio | Consumer and Other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024	304		304		2,730
2023	1,951		1,951		14,807
2022	13,747		13,747		11,866
2021	11,217		11,217		0
2020 & Prior	10,373		10,373		11,780
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	37,592		37,592		41,183
Retail portfolio | Consumer and Other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer and Other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		5
2023	6		6		36
2022	95		95		63
2021	205		205		0
2020 & Prior	67		67		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	373		373		104
Retail portfolio | Consumer and Other | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0		0		0
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	$ 0		$ 0		$ 0

LOANS RECEIVABLE, NET - Quali_2

LOANS RECEIVABLE, NET - Quality Indicator, Prior Year (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 266,154		$ 266,154		$ 567,798
2022	553,341		553,341		1,183,947
2021	1,147,631		1,147,631		777,257
2020	753,896		753,896		512,024
2019 & Prior	1,590,708		1,590,708		1,187,173
Revolving loans	160,109		160,109		183,120
Revolving Loans Converted to Term	0		0		0
Total	4,471,839		4,471,839		4,411,319
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Total	3,439	$ 3,772	5,901	$ 6,782
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	266,058		266,058		567,793
2022	553,239		553,239		1,179,430
2021	1,138,933		1,138,933		758,419
2020	728,629		728,629		500,122
2019 & Prior	1,546,390		1,546,390		1,149,363
Revolving loans	144,487		144,487		146,660
Revolving Loans Converted to Term	0		0		0
Total	4,377,736		4,377,736		4,301,787
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		2
2022			368		1,525
2021			1,212		3,034
2020			2,208		2,095
2019 & Prior			2,113		9,402
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total			5,901		16,058
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	1,084		1,084		16,692
2020	13,665		13,665		3,975
2019 & Prior	12,401		12,401		13,104
Revolving loans	2,218		2,218		4,222
Revolving Loans Converted to Term	0		0		0
Total	29,368		29,368		37,993
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	96		96		5
2022	102		102		4,517
2021	7,614		7,614		2,146
2020	11,602		11,602		7,927
2019 & Prior	31,917		31,917		24,706
Revolving loans	13,404		13,404		32,238
Revolving Loans Converted to Term	0		0		0
Total	64,735		64,735		71,539
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	79,828		79,828		130,568
2022	123,780		123,780		221,272
2021	202,632		202,632		209,374
2020	212,749		212,749		127,084
2019 & Prior	253,754		253,754		159,403
Revolving loans	139,657		139,657		163,297
Revolving Loans Converted to Term	0		0		0
Total	1,012,400		1,012,400		1,010,998
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			359		0
2021			150		0
2020			0		0
2019 & Prior			712		1,726
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	821	1,726	1,221	1,726	1,726
Commercial portfolio | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	79,732		79,732		130,568
2022	123,780		123,780		220,552
2021	196,949		196,949		192,682
2020	190,751		190,751		117,966
2019 & Prior	232,178		232,178		141,542
Revolving loans	135,154		135,154		138,003
Revolving Loans Converted to Term	0		0		0
Total	958,544		958,544		941,313
Commercial portfolio | Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	1,084		1,084		16,692
2020	13,665		13,665		3,975
2019 & Prior	344		344		934
Revolving loans	2,218		2,218		4,222
Revolving Loans Converted to Term	0		0		0
Total	17,311		17,311		25,823
Commercial portfolio | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	96		96		0
2022	0		0		720
2021	4,599		4,599		0
2020	8,333		8,333		5,143
2019 & Prior	21,232		21,232		16,927
Revolving loans	2,285		2,285		21,072
Revolving Loans Converted to Term	0		0		0
Total	36,545		36,545		43,862
Commercial portfolio | Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
2023	96,876		96,876		193,827
2022	224,569		224,569		382,652
2021	375,639		375,639		45,287
2020	43,885		43,885		138,131
2019 & Prior	489,574		489,574		388,221
Revolving loans	2		2		2
Revolving Loans Converted to Term	0		0		0
Total	1,230,545		1,230,545		1,148,120
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			0		0
2021			0		0
2020			0		0
2019 & Prior			0		2,367
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	1,127	2,367
Commercial portfolio | Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	96,876		96,876		193,827
2022	224,569		224,569		382,652
2021	375,639		375,639		45,287
2020	43,885		43,885		138,131
2019 & Prior	478,983		478,983		377,554
Revolving loans	2		2		2
Revolving Loans Converted to Term	0		0		0
Total	1,219,954		1,219,954		1,137,453
Commercial portfolio | Multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	8,321		8,321		8,373
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	8,321		8,321		8,373
Commercial portfolio | Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	2,270		2,270		2,294
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	2,270		2,270		2,294
Commercial portfolio | Multifamily | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2023	58,761		58,761		73,089
2022	41,950		41,950		42,824
2021	41,800		41,800		48,624
2020	48,005		48,005		38,336
2019 & Prior	182,836		182,836		147,103
Revolving loans	4,132		4,132		3,456
Revolving Loans Converted to Term	0		0		0
Total	377,484		377,484		353,432
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			0		0
2021			0		0
2020			0		0
2019 & Prior			0		0
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	0	0
Commercial portfolio | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	58,761		58,761		73,089
2022	41,950		41,950		42,824
2021	41,800		41,800		48,624
2020	48,005		48,005		36,478
2019 & Prior	174,869		174,869		140,674
Revolving loans	4,132		4,132		3,456
Revolving Loans Converted to Term	0		0		0
Total	369,517		369,517		345,145
Commercial portfolio | Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	3,736		3,736		3,797
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	3,736		3,736		3,797
Commercial portfolio | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		1,858
2019 & Prior	4,231		4,231		2,632
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	4,231		4,231		4,490
Commercial portfolio | Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Construction and land development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	6,936		6,936		7,261
Revolving loans	16,318		16,318		16,365
Revolving Loans Converted to Term	0		0		0
Total	23,254		23,254		23,626
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			0		0
2021			0		0
2020			0		0
2019 & Prior			0		4,664
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	0	0	0	0	4,664
Commercial portfolio | Construction and land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	6,936		6,936		7,261
Revolving loans	5,199		5,199		5,199
Revolving Loans Converted to Term	0		0		0
Total	12,135		12,135		12,460
Commercial portfolio | Construction and land development | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Construction and land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	11,119		11,119		11,166
Revolving Loans Converted to Term	0		0		0
Total	11,119		11,119		11,166
Commercial portfolio | Construction and land development | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Commercial portfolio | Residential real estate lending
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Total	4		164
Retail portfolio | Residential real estate lending
Financing Receivable, Credit Quality Indicator [Line Items]
2023	30,385		30,385		137,167
2022	132,794		132,794		417,194
2021	414,237		414,237		329,955
2020	312,586		312,586		135,194
2019 & Prior	514,622		514,622		406,086
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	1,404,624		1,404,624		1,425,596
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			0		0
2021			0		0
2020			0		0
2019 & Prior			164		65
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total		1	164	59	65
Retail portfolio | Residential real estate lending | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	30,385		30,385		137,167
2022	132,794		132,794		413,962
2021	412,248		412,248		328,952
2020	310,226		310,226		134,795
2019 & Prior	511,331		511,331		403,508
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	1,396,984		1,396,984		1,418,384
Retail portfolio | Residential real estate lending | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Residential real estate lending | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		3,232
2021	1,989		1,989		1,003
2020	2,360		2,360		399
2019 & Prior	3,291		3,291		2,578
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	7,640		7,640		7,212
Retail portfolio | Residential real estate lending | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer solar
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		30,412
2022	28,291		28,291		105,162
2021	99,481		99,481		132,088
2020	125,249		125,249		73,279
2019 & Prior	132,546		132,546		67,319
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	385,567		385,567		408,260
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		0
2022			0		1,525
2021			1,062		3,034
2020			2,208		2,095
2019 & Prior			1,140		312
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	2,604	1,824	4,410	3,631	6,966
Retail portfolio | Consumer solar | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		30,412
2022	28,195		28,195		104,633
2021	98,550		98,550		131,008
2020	124,545		124,545		72,752
2019 & Prior	131,720		131,720		67,044
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	383,010		383,010		405,849
Retail portfolio | Consumer solar | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer solar | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	96		96		529
2021	931		931		1,080
2020	704		704		527
2019 & Prior	826		826		275
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	2,557		2,557		2,411
Retail portfolio | Consumer solar | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer and Other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	304		304		2,735
2022	1,957		1,957		14,843
2021	13,842		13,842		11,929
2020	11,422		11,422		0
2019 & Prior	10,440		10,440		11,780
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	37,965		37,965		41,287
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
2023			0		2
2022			9		0
2021			0		0
2020			0		0
2019 & Prior			97		268
Revolving loans			0		0
Revolving Loans Converted to Term			0		0
Total	10	$ 221	106	$ 239	270
Retail portfolio | Consumer and Other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	304		304		2,730
2022	1,951		1,951		14,807
2021	13,747		13,747		11,866
2020	11,217		11,217		0
2019 & Prior	10,373		10,373		11,780
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	37,592		37,592		41,183
Retail portfolio | Consumer and Other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	0		0		0
Retail portfolio | Consumer and Other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		5
2022	6		6		36
2021	95		95		63
2020	205		205		0
2019 & Prior	67		67		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	373		373		104
Retail portfolio | Consumer and Other | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0		0
2022	0		0		0
2021	0		0		0
2020	0		0		0
2019 & Prior	0		0		0
Revolving loans	0		0		0
Revolving Loans Converted to Term	0		0		0
Total	$ 0		$ 0		$ 0

LOANS RECEIVABLE, NET - Sched_3

LOANS RECEIVABLE, NET - Schedule of Activity in Allowance by Portfolio (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Allowance for credit losses:
Beginning balance	$ 64,400	$ 67,323	$ 65,691	$ 45,031	$ 45,031
Provision for (recovery of) credit losses	1,766	3,116	2,656	6,728
Charge-offs	(3,439)	(3,772)	(5,901)	(6,782)
Recoveries	717	764	998	1,225
Ending balance	63,444	67,431	63,444	67,431	65,691
Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				21,229	21,229
Beginning balance - ACL
Allowance for credit losses:
Beginning balance				66,260	66,260
Commercial portfolio | Commercial and industrial
Allowance for credit losses:
Beginning balance	15,997	16,473	18,331	12,916	12,916
Provision for (recovery of) credit losses	(636)	2,008	(2,574)	1,745
Charge-offs	(821)	(1,726)	(1,221)	(1,726)	(1,726)
Recoveries	10	38	14	42
Ending balance	14,550	16,793	14,550	16,793	18,331
Commercial portfolio | Commercial and industrial | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				3,816	3,816
Commercial portfolio | Commercial and industrial | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				16,732	16,732
Commercial portfolio | Multifamily
Allowance for credit losses:
Beginning balance	4,448	7,030	2,133	7,104	7,104
Provision for (recovery of) credit losses	223	(633)	2,538	1,603
Charge-offs	0	0	0	(1,127)	(2,367)
Recoveries	0	0	0	0
Ending balance	4,671	6,397	4,671	6,397	2,133
Commercial portfolio | Multifamily | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				(1,183)	(1,183)
Commercial portfolio | Multifamily | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				5,921	5,921
Commercial portfolio | Commercial real estate
Allowance for credit losses:
Beginning balance	1,405	2,455	1,276	3,627	3,627
Provision for (recovery of) credit losses	97	(170)	226	(21)
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0
Ending balance	1,502	2,285	1,502	2,285	1,276
Commercial portfolio | Commercial real estate | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				(1,321)	(1,321)
Commercial portfolio | Commercial real estate | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				2,306	2,306
Commercial portfolio | Construction and land development
Allowance for credit losses:
Beginning balance	853	354	24	825	825
Provision for (recovery of) credit losses	(16)	(30)	813	(35)
Charge-offs	0	0	0	0	(4,664)
Recoveries	0	0	0	0
Ending balance	837	324	837	324	24
Commercial portfolio | Construction and land development | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				(466)	(466)
Commercial portfolio | Construction and land development | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				359	359
Commercial portfolio | Residential real estate lending
Allowance for credit losses:
Beginning balance	12,407		13,273
Provision for (recovery of) credit losses	(647)		(1,500)
Charge-offs	(4)		(164)
Recoveries	648		795
Ending balance	12,404		12,404		13,273
Retail portfolio | Residential real estate lending
Allowance for credit losses:
Beginning balance		14,849		11,338	11,338
Provision for (recovery of) credit losses		337		600
Charge-offs		(1)	(164)	(59)	(65)
Recoveries		89		327
Ending balance		15,274		15,274
Retail portfolio | Residential real estate lending | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				3,068	3,068
Retail portfolio | Residential real estate lending | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				14,406	14,406
Retail portfolio | Consumer solar
Allowance for credit losses:
Beginning balance	26,775	22,762	27,978	6,867	6,867
Provision for (recovery of) credit losses	2,805	1,649	3,287	2,974
Charge-offs	(2,604)	(1,824)	(4,410)	(3,631)	(6,966)
Recoveries	50	631	171	842
Ending balance	27,026	23,218	27,026	23,218	27,978
Retail portfolio | Consumer solar | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				16,166	16,166
Retail portfolio | Consumer solar | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				23,033	23,033
Retail portfolio | Consumer and Other
Allowance for credit losses:
Beginning balance	2,515	3,400	2,676	2,354	2,354
Provision for (recovery of) credit losses	(60)	(45)	(134)	(138)
Charge-offs	(10)	(221)	(106)	(239)	(270)
Recoveries	9	6	18	14
Ending balance	$ 2,454	$ 3,140	$ 2,454	3,140	2,676
Retail portfolio | Consumer and Other | Adoption of ASU No. 2016-13 | Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance				1,149	1,149
Retail portfolio | Consumer and Other | Beginning balance - ACL
Allowance for credit losses:
Beginning balance				$ 3,503	$ 3,503

LOANS RECEIVABLE, NET - Nonaccr

LOANS RECEIVABLE, NET - Nonaccrual (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	$ 24,522	$ 26,262
Nonaccrual with Allowance	10,180	6,921
Reserve	5,987	4,485
Commercial portfolio
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	13,598	16,268
Nonaccrual with Allowance	10,180	6,921
Reserve	5,987	4,485
Commercial portfolio | Commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	563	612
Nonaccrual with Allowance	7,865	6,921
Reserve	5,170	4,485
Commercial portfolio | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	4,231	4,490
Nonaccrual with Allowance	0	0
Reserve	0	0
Commercial portfolio | Construction and land development
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	8,804	11,166
Nonaccrual with Allowance	2,315	0
Reserve	817	0
Retail portfolio
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	10,924	9,994
Nonaccrual with Allowance	0	0
Reserve	0	0
Retail portfolio | Residential real estate lending
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	7,756	7,218
Nonaccrual with Allowance	0	0
Reserve	0	0
Retail portfolio | Consumer solar
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	2,794	2,673
Nonaccrual with Allowance	0	0
Reserve	0	0
Retail portfolio | Consumer and Other
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual with No Allowance	374	103
Nonaccrual with Allowance	0	0
Reserve	$ 0	$ 0

LOANS RECEIVABLE, NET - Depende

LOANS RECEIVABLE, NET - Dependent Collateral (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	$ 4,471,839		$ 4,411,319
Associated Allowance for Credit Losses	63,444	$ 64,400	65,691	$ 67,431	$ 67,323	$ 45,031
Commercial portfolio | Commercial real estate
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	377,484		353,432
Associated Allowance for Credit Losses	1,502	1,405	1,276	2,285	2,455	3,627
Commercial portfolio | Construction and land development
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	23,254		23,626
Associated Allowance for Credit Losses	837	$ 853	24	$ 324	$ 354	$ 825
Commercial real estate
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	20,549		20,855
Associated Allowance for Credit Losses	817		0
Commercial real estate | Commercial portfolio | Commercial real estate
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	4,231		4,490
Associated Allowance for Credit Losses	0		0
Commercial real estate | Commercial portfolio | Construction and land development
Financing Receivable, Past Due [Line Items]
Real Estate Collateral Dependent	16,318		16,365
Associated Allowance for Credit Losses	$ 817		$ 0

DEPOSITS - Schedule of Deposits

DEPOSITS - Schedule of Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amount
Non-interest-bearing demand deposit accounts	$ 3,445,068	$ 2,940,398
NOW accounts	192,452	200,382
Money market deposit accounts	3,093,644	3,100,681
Savings accounts	336,943	340,860
Time deposits	227,437	187,457
Brokered certificates of deposit ("CDs")	153,444	242,210
Total deposits	$ 7,448,988	$ 7,011,988
Weighted Average Rate
NOW accounts	1.07%	0.99%
Money market deposit accounts	3.08%	2.89%
Savings accounts	1.67%	1.20%
Time deposits	3.50%	3.01%
Brokered certificates of deposit ("CDs")	4.98%	5.09%
Deposits	1.59%	1.62%

DEPOSITS - Schedule of Maturiti

DEPOSITS - Schedule of Maturities of Time Deposits and Brokered CDs (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Balance
2024	$ 159,294
2025	99,340
2026	47,174
2027	39,956
2028	26,885
Thereafter	8,232
Total	$ 380,881

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statistical Disclosure for Banks [Abstract]
Time deposits at or above FDIC limit	$ 43.3	$ 42.2
CDARS deposits	96.5	63.1
Deposits from Workers United and other related entities	63.7	56.4
State and municipal deposits	$ 61.8	$ 51.9

BORROWED FUNDS (Details)

BORROWED FUNDS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Federal Home Loan Bank, Advance, Branch of FHLB Bank [Line Items]
Other eligible assets pledged as collateral	$ 2,210,000,000		$ 2,210,000,000
FHLBNY advances	9,100,000		9,100,000		$ 4,400,000
Interest expense on federal home loan bank and federal reserve bank advances,	0	$ 1,400,000	0	$ 4,400,000
Other borrowings	9,135,000		9,135,000		234,381,000
Interest expense	887,000	4,121,000	3,893,000	7,942,000
Other borrowings
Federal Home Loan Bank, Advance, Branch of FHLB Bank [Line Items]
Other borrowings	0		0		$ 0
Bank Term Funding Program
Federal Home Loan Bank, Advance, Branch of FHLB Bank [Line Items]
Other borrowings	$ 230,000,000		$ 230,000,000
Weighted average interest rate	4.50%		4.50%
Interest expense	$ 300,000	$ 2,100,000	$ 2,700,000	$ 2,300,000
Compromised Securities
Federal Home Loan Bank, Advance, Branch of FHLB Bank [Line Items]
Other eligible assets pledged as collateral	522,800,000		522,800,000
Mortgage-related
Federal Home Loan Bank, Advance, Branch of FHLB Bank [Line Items]
Other eligible assets pledged as collateral	$ 2,400,000,000		$ 2,400,000,000

SUBORDINATED DEBT (Details)

SUBORDINATED DEBT (Details) - USD ($)		3 Months Ended		6 Months Ended
	Nov. 08, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Aggregate principal amount		$ 68,117,000		$ 68,117,000		$ 70,546,000
Repurchase of subordinated debt				(2,094,000)	$ (3,220,000)
Net gain on repurchase of subordinated debt				406,000	780,000
Fixed-to-Floating Rate Notes | Subordinated Debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Aggregate principal amount	$ 85,000,000
Interest rate	3.25%
Variable rate	2.30%
Redemption price percentage	100%
Interest expense, subordinated debt		600,000	$ 600,000	1,200,000	1,200,000
Repurchased subordinated debt, par value		2,500,000	0	2,500,000	4,000,000
Repurchase of subordinated debt		2,100,000		$ 2,100,000	3,200,000
Net gain on repurchase of subordinated debt		$ 400,000	$ 0		$ 800,000

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Number of antidilutive shares (in shares)	1	74	5	84

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to Amalgamated Financial Corp.	$ 26,753	$ 21,642	$ 54,002	$ 42,976
Dividends paid on preferred stock	0	0	0	0
Income attributable to common stock	$ 26,753	$ 21,642	$ 54,002	$ 42,976
Weighted average common shares outstanding, basic (in shares)	30,551	30,619	30,513	30,662
Basic earnings per common share (in dollars per share)	$ 0.88	$ 0.71	$ 1.77	$ 1.40
Incremental shares from assumed conversion of options and RSUs (in shares)	281	157	276	158
Weighted average common shares outstanding, diluted (in shares)	30,832	30,776	30,789	30,820
Diluted earnings per common share (in dollars per share)	$ 0.87	$ 0.70	$ 1.75	$ 1.39

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares shares
Number of Options
Outstanding, balance at the beginning of the period (in shares) | shares	342,260
Granted (in shares) | shares	0
Forfeited/ Expired (in shares) | shares	0
Exercised (in shares) | shares	(153,680)
Outstanding, balance at the end of the period (in shares) | shares	188,580	342,260
Vested and Exercisable (in shares) | shares	188,580
Weighted Average Exercise Price
Outstanding, balance at the beginning of the period (in dollars per share) | $ / shares	$ 13.17
Granted (in dollars per share) | $ / shares	0
Forfeited/ Expired (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	12.67
Outstanding, balance at the end of the period (in dollars per share) | $ / shares	13.58	$ 13.17
Vested and Exercisable (in dollars per share) | $ / shares	$ 13.58
Weighted Average Remaining Contractual Term
Options outstanding	2 years 6 months	2 years 7 months 6 days
Options Vested and Exercisable	2 years 6 months
Intrinsic Value (in thousands)
Options outstanding | $	$ 2,606
Options Vested and Exercisable | $	$ 2,606

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Apr. 28, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock options, minimum (in dollars per share)				$ 11
Exercise price of stock options, maximum (in dollars per share)				$ 14.65
Fair value of options outstanding		$ 2,600,000		$ 2,600,000		$ 4,700,000
Proceeds from stock options exercised		0	$ 0	$ 0	$ 0
Grant period				6 months
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		$ 0	0	$ 0	$ 0
Stock repurchased and retired during period (in shares)				85,759	3,999
Restricted Stock Units (RSUs) and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares (in shares)		565,008		565,008
Restricted Stock Units (RSUs) and Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares (in shares)		686,128		686,128
Restricted Stock Units (RSUs) and Performance Shares | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		$ 1,400,000	1,100,000	$ 2,300,000	$ 2,000,000
Restricted Stock Units (RSUs) and Performance Shares | Employee | Employees and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 13,400,000		$ 13,400,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for stock-based awards (in shares)		1,300,000		1,300,000
Number of shares available for issuance (in shares)		874,398		874,398
Number of shares granted (in shares)				187,611
Fair value of shares granted (in dollars per share)				$ 23.47
Stock repurchased and retired during period (in shares)				54,079	45,130
Unvested shares (in shares)		322,768		322,768		291,762
Restricted Stock Units | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		$ 100,000	100,000	$ 300,000	$ 200,000
Restricted Stock Units | Employee | Employees and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition				1 year 7 months 6 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				140,157
Fair value of shares granted (in dollars per share)				$ 22.45
Unvested shares (in shares)		242,240		242,240		125,963
Performance Shares | Grant Date Fair Value, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares granted (in dollars per share)				$ 23.20
Performance Shares | Grant Date Fair Value, Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		$ 66,000
Number of shares granted (in shares)		4,423
Fair value of shares granted (in dollars per share)		$ 14.97		$ 23.18
Performance Shares | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Number of shares reserved for issuance (in shares)		363,360		363,360
Performance Shares | Employee | Grant Date Fair Value, One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				36,737
Performance Shares | Employee | Grant Date Fair Value, Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				29,654
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)				99,587
Market-Based Restricted Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				69,343
Fair value of shares granted (in dollars per share)				$ 22.21
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)				104,015
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		$ 30,900	$ 18,900	$ 67,600	$ 77,000
Number of shares authorized for stock-based awards (in shares)	500,000
Number of shares available for issuance (in shares)		407,148		407,148		424,848
Maximum withholding percentage for each employee of eligible compensation	15%
Maximum value of shares eligible to be purchased by employees for each calendar year	$ 25,000
Purchase price of common stock, percentage of fair market value	85%

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock Units Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Units
Number of Shares
Unvested at the beginning of the period (in shares) | shares	291,762
Awarded (in shares) | shares	187,611
Forfeited/Expired (in shares) | shares	0
Vested (in shares) | shares	(156,605)
Unvested at the end of the period (in shares) | shares	322,768
Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 19.48
Awarded (in dollars per share) | $ / shares	23.47
Forfeited/Expired (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	17.47
Unvested at the end of the period (in dollars per share) | $ / shares	$ 22.77
Performance Shares
Number of Shares
Unvested at the beginning of the period (in shares) | shares	125,963
Awarded (in shares) | shares	140,157
Forfeited/Expired (in shares) | shares	0
Vested (in shares) | shares	(23,880)
Unvested at the end of the period (in shares) | shares	242,240
Grant Date Fair Value
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 19.68
Awarded (in dollars per share) | $ / shares	22.45
Forfeited/Expired (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	14.97
Unvested at the end of the period (in dollars per share) | $ / shares	$ 21.74

EMPLOYEE BENEFIT PLANS - ESPP (

EMPLOYEE BENEFIT PLANS - ESPP (Details) - Employee Stock - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024
Number of Shares
Shares available for purchase at December 31, 2023		424,848	424,848
Purchases (in shares)	(7,525)	(10,175)	(17,700)
Remaining shares available for purchase at June 30, 2024	407,148		407,148

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	Jun. 30, 2024	Dec. 31, 2023
Financial Assets:
Available for sale securities, at fair value	$ 1,694,261	$ 1,483,042
Fair Value, Recurring
Financial Assets:
Other assets - Cash flow hedges	823
Total assets carried at fair value	1,695,084	1,483,042
Financial liabilities:
Other liabilities - Cash flow hedges	43
Total liabilities carried at fair value	43
Fair Value, Recurring | Level 1
Financial Assets:
Other assets - Cash flow hedges	0
Total assets carried at fair value	198	199
Financial liabilities:
Other liabilities - Cash flow hedges	0
Total liabilities carried at fair value	0
Fair Value, Recurring | Level 2
Financial Assets:
Other assets - Cash flow hedges	823
Total assets carried at fair value	1,581,963	1,429,540
Financial liabilities:
Other liabilities - Cash flow hedges	43
Total liabilities carried at fair value	43
Fair Value, Recurring | Level 3
Financial Assets:
Other assets - Cash flow hedges	0
Total assets carried at fair value	112,923	53,303
Financial liabilities:
Other liabilities - Cash flow hedges	0
Total liabilities carried at fair value	0
GSE certificates & CMOs
Financial Assets:
Available for sale securities, at fair value	597,486	480,615
GSE certificates & CMOs | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	597,486	480,615
GSE certificates & CMOs | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	0	0
GSE certificates & CMOs | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	597,486	480,615
GSE certificates & CMOs | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	0	0
Non-GSE certificates & CMOs
Financial Assets:
Available for sale securities, at fair value	194,582	196,860
Non-GSE certificates & CMOs | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	194,582	196,860
Non-GSE certificates & CMOs | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	0	0
Non-GSE certificates & CMOs | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	194,582	196,860
Non-GSE certificates & CMOs | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	0	0
ABS
Financial Assets:
Available for sale securities, at fair value	676,781	627,635
ABS | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	676,781	627,635
ABS | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	0	0
ABS | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	676,781	627,635
ABS | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	0	0
Corporate
Financial Assets:
Available for sale securities, at fair value	108,569	120,741
Corporate | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	108,569	120,741
Corporate | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	0	0
Corporate | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	108,569	120,741
Corporate | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	0	0
Other
Financial Assets:
Available for sale securities, at fair value	3,920	3,888
Other | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	3,920	3,888
Other | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	198	199
Other | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	3,722	3,689
Other | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	0	0
Residential PACE assessments
Financial Assets:
Available for sale securities, at fair value	112,923	53,303
Residential PACE assessments | Fair Value, Recurring
Financial Assets:
Available for sale securities, at fair value	112,923	53,303
Residential PACE assessments | Fair Value, Recurring | Level 1
Financial Assets:
Available for sale securities, at fair value	0	0
Residential PACE assessments | Fair Value, Recurring | Level 2
Financial Assets:
Available for sale securities, at fair value	0	0
Residential PACE assessments | Fair Value, Recurring | Level 3
Financial Assets:
Available for sale securities, at fair value	$ 112,923	$ 53,303

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Reconciliation of Assets Measured at Fair Value on a Recurring Basis, Significant Unobservable Inputs (Details) - Residential PACE Assessments - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance of recurring Level 3 assets at January 1	$ 53,303	$ 0
Amortization included in interest income	1	0
Change in unrealized holding gains/losses included in other comprehensive income	(316)	0
Purchases	68,982	0
Sales	(6,284)	0
Principal paydowns	(2,763)	0
Balance of recurring Level 3 assets at June 30	$ 112,923	$ 0

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Measurement Inputs and Valuation Techniques (Details) - Residential PACE assessments - Level 3 - Discounted cash flow $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 112,923	$ 53,303
Conditional prepayment rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, percent	0.070	0.070
Conditional prepayment rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, percent	0.250	0.260
Conditional prepayment rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, percent	0.182	0.163

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Securities Measured on Non-Recurring Basis (Details) - Fair Value, Nonrecurring $ in Thousands	Jun. 30, 2024 USD ($)
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans	$ 1,499
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans	1,499
Estimated Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans	0
Estimated Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans	0
Estimated Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans	$ 1,499

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Basis and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial assets:
Held-to-maturity securities	$ 1,500,207	$ 1,549,509
Carrying Value
Financial assets:
Cash and cash equivalents	57,993	90,570
Held-to-maturity securities	1,660,582	1,696,834
Loans held for sale	1,926	1,817
Loans receivable, net	4,408,395	4,345,628
Resell agreements	137,461	50,000
Accrued interest receivable	52,575	55,484
Financial liabilities:
FHLBNY advances	9,135	4,381
Subordinated debt, net	68,117	70,546
Accrued interest payable	3,474	12,270
Carrying Value | Deposits payable on demand
Financial liabilities:
Deposits	7,068,107	6,582,321
Carrying Value | Time deposits and brokered CDs
Financial liabilities:
Deposits	380,881	429,667
Carrying Value | Other borrowings
Financial liabilities:
Other borrowings		230,000
Estimated Fair Value
Financial assets:
Cash and cash equivalents	57,993	90,570
Held-to-maturity securities	1,500,207	1,549,509
Loans held for sale	1,926	1,817
Loans receivable, net	4,121,111	4,029,142
Resell agreements	137,461	50,000
Accrued interest receivable	52,575	55,484
Financial liabilities:
FHLBNY advances	8,931	4,381
Subordinated debt, net	57,900	56,790
Accrued interest payable	3,474	12,270
Estimated Fair Value | Deposits payable on demand
Financial liabilities:
Deposits	7,068,107	6,582,321
Estimated Fair Value | Time deposits and brokered CDs
Financial liabilities:
Deposits	378,565	428,116
Estimated Fair Value | Other borrowings
Financial liabilities:
Other borrowings		229,711
Estimated Fair Value | Level 1
Financial assets:
Cash and cash equivalents	57,993	90,570
Held-to-maturity securities	0	0
Loans held for sale	0	0
Loans receivable, net	0	0
Resell agreements	0	0
Accrued interest receivable	50	43
Financial liabilities:
FHLBNY advances	0	0
Subordinated debt, net	0	0
Accrued interest payable	0	0
Estimated Fair Value | Level 1 | Deposits payable on demand
Financial liabilities:
Deposits	0	0
Estimated Fair Value | Level 1 | Time deposits and brokered CDs
Financial liabilities:
Deposits	0	0
Estimated Fair Value | Level 1 | Other borrowings
Financial liabilities:
Other borrowings		0
Estimated Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Held-to-maturity securities	563,074	575,418
Loans held for sale	0
Loans receivable, net	0	0
Resell agreements	0	0
Accrued interest receivable	13,096	12,645
Financial liabilities:
FHLBNY advances	8,931	4,381
Subordinated debt, net	57,900	56,790
Accrued interest payable	3,474	12,270
Estimated Fair Value | Level 2 | Deposits payable on demand
Financial liabilities:
Deposits	7,068,107	6,582,321
Estimated Fair Value | Level 2 | Time deposits and brokered CDs
Financial liabilities:
Deposits	378,565	428,116
Estimated Fair Value | Level 2 | Other borrowings
Financial liabilities:
Other borrowings		229,711
Estimated Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Held-to-maturity securities	937,133	974,091
Loans held for sale	1,926	1,817
Loans receivable, net	4,121,111	4,029,142
Resell agreements	137,461	50,000
Accrued interest receivable	39,429	42,796
Financial liabilities:
FHLBNY advances	0	0
Subordinated debt, net	0	0
Accrued interest payable	0	0
Estimated Fair Value | Level 3 | Deposits payable on demand
Financial liabilities:
Deposits	0	0
Estimated Fair Value | Level 3 | Time deposits and brokered CDs
Financial liabilities:
Deposits	$ 0	0
Estimated Fair Value | Level 3 | Other borrowings
Financial liabilities:
Other borrowings		$ 0

COMMITMENTS, CONTINGENCIES AN_3

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK - Schedule of Financial Instruments Outstanding Representing Credit Risk (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 625,789	$ 545,884
Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	595,448	514,206
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 30,341	$ 31,678

COMMITMENTS, CONTINGENCIES AN_4

COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET RISK - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Reserve for credit risk inherent in off balance sheet credit commitments	$ 6.3		$ 6.3		$ 4.2
Allowance for credit losses on off-balance sheet credit exposures	1.4	$ 0.8	2.1	$ 0.9
Property Assessed Clean Energy Commitments
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Investment obligations, amount fulfilled	781.6		781.6
Remaining commitment	$ 106.6		$ 106.6

LEASES - Lease Cost and Other I

LEASES - Lease Cost and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 1,826	$ 1,795	$ 3,666	$ 3,572
Cash paid for amounts included in the measurement of operating leases liability	$ 2,681	$ 2,816	$ 6,867	$ 5,629

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Weighted average remaining lease term	2 years 7 months 6 days	3 years 3 months 18 days
Weighted average discount rate	3.13%	3.23%

LEASES - Remaining Commitments

LEASES - Remaining Commitments of Operating Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 5,394
2025	10,797
2026	8,881
2027	747
2028	0
Thereafter	0
Total undiscounted operating lease payments	25,819
Less: present value adjustment	1,035
Total Operating leases liability	$ 24,784	$ 30,646

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 12,936		$ 12,936		$ 12,936
Gross carrying amount core deposit intangible	9,100		9,100		9,100
Accumulated amortization core deposit intangible	7,300		7,300		6,900
Carrying amount core deposit intangible	1,852		1,852		$ 2,200
Amortization of intangible assets	$ 182	$ 222	$ 365	$ 444

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Total
2024	$ 365
2025	574
2026	419
2027	265
2028	111
Thereafter	118
Total	$ 1,852	$ 2,200

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Millions	Jun. 30, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Maximum exposure to credit loss	$ 60.2

VARIABLE INTEREST ENTITIES - Un

VARIABLE INTEREST ENTITIES - Unconsolidated Variable Interest Entities (Details) - Unconsolidated Variable Interest Entities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Tax credit investments included in equity investments	$ 8,960	$ 9,024
Loan commitments	51,216	52,222
Funded portion of loan commitments	$ 51,216	$ 52,222

VARIABLE INTEREST ENTITIES - Ta

VARIABLE INTEREST ENTITIES - Tax Credit Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unconsolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Tax credits and other tax benefits recognized	$ 855	$ 813	$ 1,718	$ 1,600

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES - Narrative (Details) - Designated as Hedging Instrument - Cash Flow Hedging	Jun. 30, 2024 USD ($) derivative
Interest Rate Products
Derivative [Line Items]
Estimated amount to be reclassified to interest income in next twelve months	$ 200,000
Interest Rate Swap
Derivative [Line Items]
Number of derivatives | derivative	1
Notional value	$ 100,000,000
Interest Rate Floor
Derivative [Line Items]
Number of derivatives | derivative	1
Notional value	$ 80,000,000

DERIVATIVES AND HEDGING ACTIV_4

DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Derivatives on Statements of Financial Condition (Details) - Cash Flow Hedging - Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Interest Rate Floor
Derivative [Line Items]
Notional Amount	$ 80,000	$ 0
Fair Value Assets	823	0
Interest Rate Swap
Derivative [Line Items]
Notional Amount	100,000	0
Fair Value Liabilities	$ 43	$ 0

DERIVATIVES AND HEDGING ACTIV_5

DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Derivatives on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) reclassified from other comprehensive income into interest income	$ (33)	$ 0	$ (33)	$ 0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Products
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) reclassified from other comprehensive income into interest income	(33)	0	(33)	0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Products | Interest Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) reclassified from other comprehensive income into interest income	(33)	0	(33)	0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Products | Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) reclassified from other comprehensive income into interest income	$ 0	$ 0	$ 0	$ 0

DERIVATIVES AND HEDGING ACTIV_6

DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Derivatives Effect on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in other comprehensive income (loss)	$ (44)	$ 0	$ (44)	$ 0
Gain (loss) reclassified from other comprehensive income into interest income	(33)	0	(33)	0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Products
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in other comprehensive income (loss)	(44)	0	(44)	0
Gain (loss) reclassified from other comprehensive income into interest income	$ (33)	$ 0	$ (33)	$ 0

Uncategorized Items - amal-2024

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]