Dime Community Bancshares (DCOM) 10-Q10 May 212021 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 03, 2021
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	001-34096
Entity Registrant Name	DIME COMMUNITY BANCSHARES, INC
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-2934195
Entity Address, Address Line One	898 Veterans Memorial Highway
Entity Address, City or Town	Suite 560, Hauppauge
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11788
City Area Code	631
Local Phone Number	537-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,583,837
Entity Central Index Key	0000846617
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	DCOM
Security Exchange Name	NASDAQ
Preferred Stock, Series A [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Preferred Stock, Series A, $0.01 Par Value
Trading Symbol	DCOMP
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS:
Cash and due from banks	$ 676,723	$ 243,603
Mortgage-backed securities available-for-sale, at fair value	846,529	426,979
Investment securities available-for-sale, at fair value	305,964	111,882
Marketable equity securities, at fair value		5,970
Loans held for sale	23,704	5,903
Loans:
Loans	10,506,098	5,622,044
Allowance for credit losses	(98,200)	(41,461)
Total loans held for investment, net	10,407,898	5,580,583
Premises and fixed assets, net	53,829	19,053
Restricted stock	45,063	60,707
Bank Owned Life Insurance ("BOLI")	251,521	156,096
Goodwill	155,339	55,638
Other intangible assets	10,627
Operating lease assets	69,094	33,898
Derivative assets	45,760	18,932
Accrued interest receivable	51,100	34,815
Other assets	75,477	27,551
Total assets	13,018,628	6,781,610
Due to depositors:
Interest-bearing deposits	7,271,876	3,744,371
Non-interest-bearing deposits	3,538,936	780,751
Total deposits	10,810,812	4,525,122
FHLBNY advances	533,865	1,204,010
Other short-term borrowings	126,763	120,000
Subordinated debt, net	197,234	114,052
Operating lease liabilities	71,249	39,874
Derivative liabilities	41,816	37,374
Other liabilities	64,065	40,082
Total Liabilities	11,845,804	6,080,514
Commitments and contingencies
Stockholders' equity:
Preferred stock, Series A ($0.01 par, $25.00 liquidation value, 9,000,000 shares authorized and 5,299,200 shares issued and outstanding at March 31, 2021 and December 31, 2020)	116,569	116,569
Common stock ($0.01 par 81,000,000 shares authorized, 41,583,837 shares and 34,813,302 shares issued at March 31, 2021 and December 31, 2020, respectively, and 41,536,054 shares and 21,232,984 shares outstanding at March 31, 2021 and December 31, 2020, respectively)	416	348
Additional paid-in capital	492,431	278,295
Retained earnings	574,297	600,641
Accumulated other comprehensive gain (loss), net of deferred taxes	531	(5,924)
Unearned equity awards	(10,107)
Common stock held by the Benefit Maintenance Plan ("BMP")		(1,496)
Treasury stock, at cost (47,783 shares and 13,580,318 shares at March 31, 2021 and December 31, 2020, respectively)	(1,313)	(287,337)
Total stockholders' equity	1,172,824	701,096
Total liabilities and stockholders' equity	13,018,628	6,781,610
Real estate
Loans:
Loans	8,149,079	4,978,195
Commercial and industrial ("C&I")
Loans:
Loans	2,332,610	641,533
Other loans
Loans:
Loans	$ 24,409	$ 2,316

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	9,000,000	9,000,000
Preferred stock, shares issued (in shares)	5,299,200	5,299,200
Preferred stock, shares outstanding (in shares)	5,299,200	5,299,200
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	81,000,000	81,000,000
Common stock, shares issued (in shares)	41,583,837	34,813,302
Common stock, shares outstanding (in shares)	41,536,054	21,232,984
Treasury stock (in shares)	47,783	13,580,318

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest income:
Loans	$ 81,382	$ 54,177
Securities	4,380	3,726
Other short-term investments	993	1,002
Total interest income	86,755	58,905
Interest expense:
Deposits and escrow	5,298	11,926
Borrowed funds	3,616	6,455
Total interest expense	8,914	18,381
Net interest income	77,841	40,524
Provision for credit losses	15,779	8,012
Net interest income after provision for credit losses	62,062	32,512
Non-interest income:
Service charges and other fees	2,920	1,203
Title fees	433
Loan level derivative income	1,792	1,163
BOLI income	1,339	1,887
Gain on sale of SBA loans	164	164
Gain on sale of residential loans	723	151
Net gain (loss) on equity securities	131	(472)
Net gain on sale of securities and other assets	710	8
Loss on termination of derivatives	(16,505)
Other	910	132
Total non-interest (loss) income	(7,383)	4,236
Non-interest expense:
Salaries and employee benefits	24,819	15,587
Occupancy and equipment	6,977	4,056
Data processing costs	3,528	2,024
Marketing	860	577
Professional services	1,865	1,514
Federal deposit insurance premiums	939	477
Loss from extinguishment of debt	1,594
Curtailment loss	1,543
Merger expenses and transaction costs	37,942	586
Amortization of core deposit intangible	357
Other	2,381	1,219
Total non-interest expense	82,805	26,040
(Loss) income before income taxes	(28,126)	10,708
Income tax (benefit) expense	(7,092)	2,316
Net (loss) income	(21,034)	8,392
Preferred stock dividends	(1,821)	0
Net (loss) income available to common stockholders	$ (22,855)	$ 8,392
(Loss) earnings per common share:
Basic	$ (0.66)	$ 0.37
Diluted	$ (0.66)	$ 0.37

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
Net (loss) income	$ (21,034)	$ 8,392
Other comprehensive (loss) income:
Change in unrealized holding (loss) gain on securities available-for-sale	(16,721)	10,252
Change in pension and other postretirement obligations	2,006	271
Change in unrealized gain (loss) on derivatives	22,307	(20,377)
Other comprehensive income (loss) before income taxes	7,592	(9,854)
Deferred tax expense (benefit)	1,137	(3,162)
Other comprehensive income (loss), net of tax	6,455	(6,692)
Total comprehensive (loss) income	$ (14,579)	$ 1,700

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Preferred StockCumulative Effect, Period of Adoption, Adjusted Balance	Preferred Stock	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Retained EarningsCumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Unearned Equity Awards	Common Stock Held by BMPCumulative Effect, Period of Adoption, Adjusted Balance	Common Stock Held by BMP	Treasury Stock, at CostCumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock, at Cost	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Total
Balance at Dec. 31, 2019				$ 348		$ 279,511			$ 581,817		$ (5,940)	$ (6,731)		$ (1,496)		$ (250,751)			$ 596,758
Balance (in shares) at Dec. 31, 2019				22,780,208
Increase (Decrease) in Stockholders' Equity
Net (loss) income									8,392										8,392
Other comprehensive income (loss), net of tax											(6,692)								(6,692)
Release of shares, net of forfeitures						5						(7)				2
Release of shares, net of forfeitures (in shares)				59
Stock-based compensation												671							671
Proceeds from Preferred Stock issuance, net		$ 72,224																	72,224
Shares received related to tax withholding																(79)			(79)
Shares received related to tax withholding (in shares)				(3,025)
Cash dividends declared and paid to common stockholders, net									(4,915)										(4,915)
Repurchase of shares of Common Stock																(20,711)			(20,711)
Repurchase of shares of Common Stock (in shares)				(825,992)
Balance at Mar. 31, 2020		72,224		$ 348		279,516			585,294		(12,632)	(6,067)		(1,496)		(271,539)			645,648
Balance (in shares) at Mar. 31, 2020				21,951,250
Balance at Dec. 31, 2020	$ 116,569	116,569	$ 348	$ 348	$ 278,295	278,295	$ 1,686	$ 602,327	600,641	$ (5,924)	(5,924)		$ (1,496)	(1,496)	$ (287,337)	(287,337)	$ 1,686	$ 702,782	$ 701,096
Balance (in shares) at Dec. 31, 2020			21,232,984	21,232,984															21,232,984
Increase (Decrease) in Stockholders' Equity
Net (loss) income									(21,034)										$ (21,034)
Other comprehensive income (loss), net of tax											6,455								6,455
Reverse merger with Bridge Bancorp, Inc.				$ 65		206,641						(2,603)				287,107			491,210
Reverse merger with Bridge Bancorp, Inc. (in shares)				19,992,284
Exercise of stock options						292										80			372
Exercise of stock options (in shares)				15,928
Release of shares, net of forfeitures				$ 3		8,562						(8,340)				(33)			192
Release of shares, net of forfeitures (in shares)				335,959
Stock-based compensation												836							836
Shares received to satisfy distribution of retirement benefits						(1,359)								$ 1,496		(1,130)			(993)
Shares received to satisfy distribution of retirement benefits (in shares)				(41,101)
Cash dividends declared and paid to preferred stockholders									(1,821)										(1,821)
Cash dividends declared and paid to common stockholders, net									(5,175)										(5,175)
Balance at Mar. 31, 2021		$ 116,569		$ 416		$ 492,431			$ 574,297		$ 531	$ (10,107)				$ (1,313)			$ 1,172,824
Balance (in shares) at Mar. 31, 2021				41,536,054															41,536,054

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (21,034)	$ 8,392
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Net gain on sales of securities available-for-sale and other assets	(710)	(8)
Net (gain) loss on equity securities	(131)	472
Net gain on sale of loans held for sale	(887)	(315)
Net depreciation, amortization and accretion	(977)	1,294
Stock-based compensation	836	671
Provision for credit losses	15,779	8,012
Originations of loans held for sale	(12,868)	(6,217)
Proceeds from sale of loans originated for sale	20,291	8,103
Increase in cash surrender value of BOLI	(1,340)	(756)
Gain from death benefits from BOLI	0	(1,131)
Deferred income tax benefit	(12,704)	(2,090)
Decrease in other assets	89,179	1,530
(Decrease) increase in other liabilities	(84,352)	2,515
Net cash (used in) provided by operating activities	(8,918)	20,472
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of securities available-for-sale	134,558	4,199
Proceeds from sales of marketable equity securities	6,101	137
Purchases of securities available-for-sale	(327,222)	(33,244)
Acquisition of marketable equity securities	0	(113)
Proceeds from calls and principal repayments of securities available-for-sale	214,029	32,312
Purchase of BOLI	0	(20,000)
Loans purchased	0	(892)
Proceeds from the sale of portfolio loans transferred to held for sale	3,900
Net (increase) decrease in loans	(326,077)	131,569
Purchases of fixed assets, net	1,651	(1,034)
Sales (purchases) of FHLBNY capital stock, net	39,006	(1,127)
Net cash received in business combination	715,988	0
Net cash provided by investing activities	461,934	111,807
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (decrease) in deposits	870,519	(3,183)
Repayments of FHLBNY advances, long-term	(140,150)	(3,615,520)
(Repayments) proceeds of FHLBNY advances, short-term, net	(745,000)	3,640,570
Proceeds (repayments) of other short-term borrowings, net	6,763	(110,000)
Proceeds from preferred stock issuance, net	0	72,224
Proceeds from exercise of stock options	372
Release of stock for benefit plan awards	192
Payments related to tax withholding for equity awards	0	(79)
BMP ESOP shares received to satisfy distribution of retirement benefits	(993)
Treasury shares repurchased	0	(20,711)
Cash dividends paid to preferred stockholders	(1,821)
Cash dividends paid to common stockholders	(9,778)	(4,915)
Net cash used in financing activities	(19,896)	(41,614)
Increase in cash and cash equivalents	433,120	90,665
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	243,603	155,488
CASH AND CASH EQUIVALENTS, END OF PERIOD	676,723	246,153
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	4,625	955
Cash paid for interest	8,624	16,881
Loans transferred to held for sale	18,144	2,509
Transfer of cash surrender value for BOLI to other assets	0	$ 3,016
Cumulative change due to CECL adoption	1,686
Net non-cash liabilities assumed in Merger	$ 324,479

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2021
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. On February 1, 2021, Dime Community Bancshares, Inc., a Delaware corporation (“Legacy Dime”) merged with and into Bridge Bancorp, Inc., a New York corporation (“Bridge”) (the “Merger”), with Bridge as the surviving corporation under the name “Dime Community Bancshares, Inc.” (the “Holding Company”). At the effective time of the Merger (the “Effective Time”), each outstanding share of Legacy Dime common stock, par value $0.01 per share, was converted into the right to receive 0.6480 shares of the Holding Company’s common stock, par value $0.01 per share. At the Effective Time, each outstanding share of Legacy Dime’s Series A preferred stock, par value $0.01 (the “Dime Preferred Stock”), was converted into the right to receive one share of a newly created series of the Holding Company’s preferred stock having the same powers, preferences and rights as the Dime Preferred Stock. Immediately following the Merger, Dime Community Bank, a New York-chartered commercial bank and a wholly-owned subsidiary of Legacy Dime, merged with and into BNB Bank, a New York-chartered trust company and a wholly-owned subsidiary of Bridge, with BNB Bank as the surviving bank, under the name “Dime Community Bank” (the “Bank”). The unaudited consolidated financial statements presented in this Quarterly Report on Form 10-Q include the collective results of the Holding Company and its wholly-owned subsidiary, the Bank, which are collectively herein referred to as “we”, “us”, “our” and the “Company.” The Merger was accounted for as a reverse merger using the acquisition method of accounting, which means that for accounting and financial reporting purposes, Legacy Dime was deemed to have acquired Bridge in the Merger, even though Bridge was the legal acquirer. Accordingly, Legacy Dime’s historical financial statements are the historical financial statements of the combined company for all periods before February 1, 2021 (the “Merger Date”). The Company’s results of operations for the first quarter of 2021 include the results of operations of Bridge on and after the Merger Date. Results for periods before the Merger Date reflect only those of Legacy Dime and do not include the results of operations of Bridge. The number of shares issued and outstanding, earnings per share, additional paid-in capital, dividends paid and all references to share quantities of the Company have been retrospectively adjusted to reflect the equivalent number of shares issued to holders of Legacy Dime common stock in the Merger. The assets and liabilities of Bridge as of the Merger Date have been recorded at their estimated fair value and added to those of Legacy Dime. See Note 2. Merger for further information. As of March 31, 2021, we operate 67 branch locations throughout Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, and the Bronx. The Company is a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Dime Community Bank, which was known as BNB Bank prior to the Merger. The Bank was established in 1910 and is headquartered in Hauppauge, New York. The Holding Company was incorporated under the laws of the State of New York in 1988 to serve as the holding company for the Bank. The Company functions primarily as the holder of all of the Bank’s common stock. In May 1999, the Bank established a real estate investment trust subsidiary, Bridgehampton Community, Inc. (“BCI”), as an operating subsidiary. Our bank operations also include Bridge Abstract LLC (“Bridge Abstract”), a wholly-owned subsidiary of the Bank, which is a broker of title insurance services. In connection with the Merger, on February 1, 2021, the Holding Company acquired Dime Community Bank and its wholly-owned subsidiaries. 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 unaudited consolidated financial statements included herein reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. Such estimates are subject to change in the future as additional information becomes available or previously existing circumstances are modified. Actual future results could differ significantly from those estimates. The annualized results of operations for the three months ended March 31, 2021 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”). Certain reclassifications have been made to prior year amounts, and the related discussion and analysis, to conform to the current year presentation. These reclassifications did not have an impact on net income or total stockholders' equity. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Legacy Dime’s Annual Report on Form 10-K for the year ended December 31, 2019, which remain significantly unchanged and have been followed similarly as in prior periods except for the allowance for credit losses policy, resulting from the adoption of Accounting Standard Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” and certain policies added as a result of the Merger. Risks and Uncertainties In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which has spread to most countries, including the United States. The pandemic has adversely affected economic activity globally, nationally and locally. In March 2020, the United States declared a National Public Health Emergency in response to the COVID-19 pandemic. In an effort to mitigate the spread of COVID-19, local state governments, including New York (in which the Bank has retail banking offices), have taken preventative or protective actions such as travel restrictions, advising or requiring individuals to limit or forego their time outside of their homes, and other forced closures for certain types of non-essential businesses. The impact of these actions is expected to continue to have an adverse impact on the economies and financial markets in the United States. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was signed into law at the end of March 2020. The CARES Act is intended to provide relief and lessen a severe economic downturn. The stimulus package includes direct financial aid to American families and economic stimulus to significantly impacted industry sectors. The package also includes extensive emergency funding for hospitals and healthcare providers. It is possible that there will be material, adverse impacts to significant estimates, asset valuations, and business operations, including intangible assets, investments, loans, deferred tax assets, and derivative counter party risk.

MERGER

MERGER	3 Months Ended
MERGER	Mar. 31, 2021
MERGER
MERGER	2 . As described in Note 1. Basis of Presentation, on February 1, 2021, we completed our Merger with Legacy Dime. Pursuant to the merger agreement, Legacy Dime merged with and into Bridge with Bridge as the surviving corporation under the name “Dime Community Bancshares, Inc.” At the effective time of the Merger, each outstanding share of Legacy Dime common stock, par value $0.01 per share, was converted into 0.6480 shares of the Company’s common stock, par value $0.01 per share. At the Effective Time, each outstanding share of Legacy Dime’s Series A preferred stock, par value $0.01 (the “Dime Preferred Stock”), was converted into one share of a newly created series of the Company’s preferred stock having the same powers, preferences and rights as the Dime Preferred Stock. In connection with the Merger, the Company assumed $115.0 million in aggregate principal amount of the 4.50% Fixed-to-Floating Rate Subordinated Debentures due 2027 of Legacy Dime. The Merger constituted a business combination and was accounted for as a reverse merger using the acquisition method of accounting. As a result, Legacy Dime was the accounting acquirer and Bridge was the legal acquirer and the accounting acquiree. Accordingly, the historical financial statements of Legacy Dime became the historical financial statements of the combined company. In addition, the assets and liabilities of Bridge have been recorded at their estimated fair values and added to those of Legacy Dime as of the Merger Date. The determination of fair value required management to make estimates about discount rates, expected future cash flows, market conditions and other future events that are subjective and subject to change. The Company issued 21.2 million shares of its common stock to Legacy Dime stockholders in connection with the Merger, which represented 51.5% of the voting interests in the Company upon completion of the Merger. In accordance with FASB ASC 805-40-30-2, the purchase price in a reverse acquisition is determined based on the number of equity interests the legal acquiree would have had to issue to give the owners of the legal acquirer the same percentage equity interest in the combined entity that results from the reverse acquisition. The table below summarizes the ownership of the combined company following the Merger, for each shareholder group, as well as the market capitalization of the combined company using shares of Bridge and Legacy Dime common stock outstanding at January 31, 2021 and Bridge’s closing price on January 31, 2021. Dime Community Bancshares, Inc. Ownership and Market Value Number of Market Value at Bridge Percentage $24.43 Bridge (Dollars and shares in thousands) Outstanding Shares Ownership Share Price Bridge shareholders 19,993 48.5% $ 488,420 Legacy Dime shareholders 21,233 51.5% 518,720 Total 41,226 100.0% $ 1,007,140 The table below summarizes the hypothetical number of shares as of January 31, 2021 that Legacy Dime would have to issue to give Bridge owners the same percentage ownership in the combined company. Hypothetical Legacy Dime Ownership Number of Legacy Dime Percentage (Shares in thousands) Outstanding Shares Ownership Bridge shareholders 30,853 48.5% Legacy Dime shareholders 32,767 51.5% Total 63,620 100.0% The purchase price is calculated based on the number of hypothetical shares of Legacy Dime common stock issued to Bridge shareholders multiplied by the share price as demonstrated in the table below. (Dollars and shares in thousands) Number of hypothetical Legacy Dime shares issued to Bridge shareholders 30,853 Legacy Dime market price per share as of February 1, 2021 $ 15.90 Purchase price determination of hypothetical Legacy Dime shares issued to Bridge shareholders $ 490,560 Value of Bridge stock options hypothetically converted to options to acquire shares of Legacy Dime common stock 643 Cash in lieu of fractional shares 7 Purchase price consideration $ 491,210 The following table provides the purchase price allocation as of the Merger Date and the Bridge assets acquired and liabilities assumed at their estimated fair value as of the Merger Date as recorded by Dime Community Bancshares. We recorded the estimate of fair value based on initial valuations available at the Merger Date and these estimates are considered preliminary and subject to adjustment for up to one year after the Merger Date. While we believe that the information available on the Merger Date provided a reasonable basis for estimating fair value, we expect that we may obtain additional information and evidence during the measurement period that would result in changes to the estimated fair value amounts. The measurement period ends on the earlier of one year after the Merger Date or the date we are able to determine that we have obtained all necessary information about the facts and circumstances that existed as of Merger Date. Subsequent adjustments to fair value, if necessary, will be reflected in our future filings. (In thousands) Purchase price consideration $ 491,210 Fair value of assets acquired: Cash and due from banks 715,988 Securities available-for-sale 651,997 Loans held for sale 10,000 Loans held for investment 4,531,640 Premises and fixed assets 37,881 Restricted stock 23,362 BOLI 94,085 Other intangible assets 10,984 Operating lease assets 45,603 Other assets 117,474 Total assets acquired 6,239,014 Fair value of liabilities assumed: Deposits 5,405,575 Other short-term borrowings 216,298 Subordinated debt 83,200 Operating lease liabilities 45,285 Other liabilities 97,147 Total liabilities assumed 5,847,505 Fair value of net identifiable assets 391,509 Goodwill resulting from Merger $ 99,701 As a result of the Merger, we recorded $99.7 million of goodwill. The goodwill recorded in not deductible for income tax purposes. As described in detail in Note 3. Summary of Accounting Policies, the Company is required to record purchased financial assets with credit deterioration (PCD assets), defined as a more-than-insignificant deterioration in credit quality since origination or issuance, at the purchase price plus the allowance for credit losses expected at the time of acquisition. Under this method, there is no credit loss expense affecting net income on acquisition of PCD assets. Changes in estimates of expected losses after acquisition are recognized as credit loss expense (or reversal of credit loss expense) in subsequent periods as they arise. Any non-credit discount or premium resulting from acquiring a pool of purchased financial assets with credit deterioration shall be allocated to each individual asset. At the acquisition date, the initial allowance for credit losses determined on a collective basis shall be allocated to individual assets to appropriately allocate any non-credit discount or premium. The non-credit discount or premium, after the adjustment for the allowance for credit losses, shall be accreted to interest income using the interest method based on the effective interest rate determined after the adjustment for credit losses at the adoption date. (In thousands) PCD loans: Unpaid principal balance $ 295,306 Non-credit discount at acquisition (9,049) Unpaid principal balance, net 286,257 Allowance for credit losses at acquisition (52,285) Fair value at acquisition 233,972 Non-PCD loans: Unpaid principal balance 4,289,236 Premium at acquisition 8,432 Fair value at acquisition 4,297,668 Total fair value at acquisition $ 4,531,640 Supplemental disclosures of cash flow information related to investing and financing activities regarding the Merger are as follows for the three months ended March 31, 2021: (In thousands) Business combination: Fair value of tangible assets acquired $ 6,228,030 Goodwill, core deposit intangible and other intangible assets acquired 110,685 Liabilities assumed 5,847,505 Purchase price consideration 491,210 Other intangible assets consisted of core deposit intangibles and a non-compete agreement with estimated fair values at the Merger Date of $10.2 million and $780 thousand, respectively. Core deposit intangibles are being amortized over a life of 10 years on an accelerated basis. The non-compete agreement is being amortized over a life of 13 months. Pro Forma Combined Results of Operations The following pro forma financial information presents the consolidated results of operations of Legacy Dime and Bridge as if the Merger occurred as of January 1, 2020 with pro forma adjustments. The pro forma adjustments give effect to any change in interest income due to the accretion of discounts (premiums) associated with the fair value adjustments of acquired loans, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustments to acquired time deposits and other debt, and the amortization of the core deposit intangible that would have resulted had the deposits been acquired as of January 1, 2020. Merger related expenses incurred by the Company during the three months ended March 31, 2021 are not reflected in the pro forma amounts. The pro forma information does not necessarily reflect the results of operations that would have occurred had Legacy Dime merged with Bridge at the beginning of 2020. The pro forma amounts for the three months ended March 31, 2021 and 2020 do not reflect the anticipated cost savings that have not yet been realized. Three Months Ended March 31, (Dollars in thousands except per share amounts) 2021 2020 Net interest income $ 90,476 $ 79,511 Non-interest (loss) income (6,032) 9,453 Net (loss) income (149) 18,685 Net (loss) income available to common shareholders (1,560) 18,423 Earnings per share: Basic (0.04) 0.45 Diluted (0.04) 0.45

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF ACCOUNTING POLICIES	Mar. 31, 2021
SUMMARY OF ACCOUNTING POLICIES
SUMMARY OF ACCOUNTING POLICIES	3 . Summary of Significant Accounting Policies In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair presentation of the Company’s financial condition as of March 31, 2021 and December 31, 2020, the results of operations and statements of comprehensive income for the three-month periods ended March 31, 2021 and 2020, the changes in stockholders’ equity for the three-month periods ended March 31, 2021 and 2020, and cash flows for the three-month periods ended March 31, 2021 and 2020. Please see "Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited condensed consolidated financial statements utilizing significant estimates. Recent Accounting Pronouncements Allowance for Credit Losses – The adoption of the CECL standard resulted in an initial decrease of $3.9 million to the allowance for credit losses and an increase of $1.4 million to the reserve for unfunded commitments in other liabilities. The after-tax cumulative-effect adjustment of $1.7 million was recorded in retained earnings as of January 1, 2021. The allowance for credit losses is a valuation allowance that is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loan losses are charged against the allowance when management believes it has confirmed the loan balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance. The CECL Standard, which requires that debt securities held to maturity be accounted for under the current expected credit losses model, including historical loss experience and impact of current conditions and reasonable and supportable forecasts, with an associated allowance for credit losses. In addition, while credit losses on debt securities available for sale should be measured in accordance with the other-than-temporary impairment (“OTTI”) framework under current GAAP, the amendments in the CECL Standard require that these credit losses be presented as an allowance for credit losses. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Management estimates the allowance balance required using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historically observed credit loss experience of peer banks within our geography provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or terms as well as changes in environmental conditions, such as changes in unemployment rates, gross domestic product, and real estate pricing. Management evaluates the adequacy of the allowance on a quarterly basis. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods: One-to-four family residential, including condominium and cooperative apartment loans - Multifamily residential and residential mixed-use loans - Commercial real estate and commercial mixed-use loans - 1.25x. Included in commercial real estate loans are also certain Small Business Administration ("SBA") loans in which the loan is secured by underlying real estate as collateral. The Bank may sell a portion of the loan, guaranteed by the SBA, to a third-party investor. Repayment of commercial real estate loans is often dependent upon successful operation or management of the collateral properties, as well as the success of the business and retail tenants occupying the properties. Repayment of such loans is generally more vulnerable to weak economic conditions, such as unemployment rates and commercial real estate prices. Acquisition, development, and construction loans Commercial, Industrial and Agricultural Loans - Other Loans Loans that do not share risk characteristics are evaluated on an individual basis based on various factors. Loans evaluated individually are not included in the collective evaluation. Factors that may be considered are borrower delinquency trends and nonaccrual status, probability of foreclosure or note sale, changes in the borrower’s circumstances or cash collections, borrower’s industry, or other facts and circumstances of the loan or collateral. Individually Evaluated Loans with an ACL and Other Real Estate Owned Appraisals for collateral-dependent loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Appraisal and Credit Departments review the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Management also considers the appraisal values for commercial properties associated with current loan origination activity. Collectively, this information is reviewed to help assess current trends in commercial property values. For each collateral dependent loan, management considers information that relates to the type of property to determine if such properties may have appreciated or depreciated in value since the date of the most recent appraisal. Adjustments to fair value are made only when the analysis indicates a probable decline in collateral values. Adjustments made in the appraisal process are not deemed material to the overall consolidated financial statements given the level of collateral dependent loans measured at fair value on a non-recurring basis. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures – The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet credit exposures, which is included in other liabilities on the consolidated statements of financial condition, is adjusted as a provision for credit loss expense in other operating expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which is the same as the expected loss factor as determined based on the corresponding portfolio segment. Loans acquired in a business combination – A purchased financial asset that does not qualify as a PCD asset is accounted for similar to an originated financial asset. Generally, this means that an entity recognizes the allowance for credit losses for non-PCD assets through net income at the time of acquisition. In addition, both the credit discount and non-credit discount or premium resulting from acquiring a pool of purchased financial assets that do not qualify as PCD assets shall be allocated to each individual asset. This combined discount or premium shall be accreted to interest income using the effective yield method. For further discussion of our loan accounting and acquisitions, see Note 2 – Merger and Note 8 – Loans.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Mar. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	4 . Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Total Accumulated Securities Defined Other Available- Benefit Comprehensive (In thousands) for-Sale Plans Derivatives Income (Loss) Balance as of January 1, 2021 $ 12,694 $ (6,086) $ (12,532) $ (5,924) Other comprehensive income (loss) before reclassifications (10,570) 1,659 16,476 7,565 Amounts reclassified from accumulated other comprehensive loss (822) (288) — (1,110) Net other comprehensive (loss) income during the period (11,392) 1,371 16,476 6,455 Balance as of March 31, 2021 $ 1,302 $ (4,715) $ 3,944 $ 531 Balance as of January 1, 2020 $ 4,621 $ (6,024) $ (4,537) $ (5,940) Other comprehensive income (loss) before reclassifications 7,049 120 (14,060) (6,891) Amounts reclassified from accumulated other comprehensive loss (5) 65 139 199 Net other comprehensive income (loss) during the period 7,044 185 (13,921) (6,692) Balance as of March 31, 2020 $ 11,665 $ (5,839) $ (18,458) $ (12,632) The before and after-tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below for the periods indicated. Three Months Ended March 31, (In thousands) 2021 2020 Change in unrealized holding gain or loss on securities available-for-sale: Change in net unrealized gain or loss during the period $ (15,534) $ 10,260 Reclassification adjustment for net (gains) losses included in net gain on securities and other assets (1,187) (8) Net change (16,721) 10,252 Tax (benefit) expense (5,329) 3,208 Net change in unrealized holding gain or loss on securities available-for-sale (11,392) 7,044 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in other expense (422) 95 Reclassification adjustment for curtailment loss 1,543 — Change in the net actuarial gain or loss 885 176 Net change 2,006 271 Tax expense 635 86 Net change in pension and other postretirement obligations 1,371 185 Change in unrealized gain or loss on derivatives: Change in net unrealized gain or loss during the period 21,453 (20,581) Reclassification adjustment for expense included in interest expense 854 204 Net change 22,307 (20,377) Tax expense (benefit) 5,831 (6,456) Net change in unrealized gain or loss on derivatives 16,476 (13,921) Other comprehensive income (loss), net of tax $ 6,455 $ (6,692)

EARNINGS PER COMMON SHARE ("EPS

EARNINGS PER COMMON SHARE ("EPS")	3 Months Ended
EARNINGS PER COMMON SHARE ("EPS")	Mar. 31, 2021
EARNINGS PER COMMON SHARE ("EPS")
EARNINGS PER COMMON SHARE ("EPS")	5 . Basic EPS is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding during the reporting period. Diluted EPS is computed using the same method as basic EPS, but reflects the potential dilution that would occur if "in the money" stock options were exercised and converted into Common Stock, and if all likely aggregate Long-term Incentive Plan ("LTIP") and Sales Incentive Plan ("SIP") shares are issued, when there are outstanding shares. In determining the weighted average shares outstanding for basic and diluted EPS, treasury shares are excluded. Vested restricted stock award ("RSA") shares are included in the calculation of the weighted average shares outstanding for basic and diluted EPS. Unvested RSA and SIP shares not yet awarded are recognized as a special class of participating securities under ASC 260, and are included in the calculation of the weighted average shares outstanding for basic and diluted EPS. The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented: Three Months Ended March 31, (In thousands except share and per share amounts) 2021 2020 Net (loss) income available to common stockholders $ (22,855) $ 8,392 Less: Dividends paid and earnings allocated to participating securities 165 (67) (Loss) income attributable to common stock $ (22,690) $ 8,325 Weighted average common shares outstanding, including participating securities 34,543,114 22,551,358 Less: weighted average participating securities (282,176) (174,386) Weighted average common shares outstanding 34,260,938 22,376,972 Basic EPS $ (0.66) $ 0.37 (Loss) income attributable to common stock $ (22,690) $ 8,325 Weighted average common shares outstanding 34,260,938 22,376,972 Weighted average common equivalent shares outstanding 1,067 99,600 Weighted average common and equivalent shares outstanding 34,262,005 22,476,572 Diluted EPS $ (0.66) $ 0.37 Common and equivalent shares resulting from the dilutive effect of "in-the-money" outstanding stock options are calculated based upon the excess of the average market value of the common stock over the exercise price of outstanding in-the-money stock options during the period. There were 180,020 weighted-average stock options outstanding for the three-month period ended March 31, 2021, which were not considered in the calculation of diluted EPS since their exercise prices exceeded the average market price during the period. There were no "out-of-the-money" stock options during the three-month period ended March 31, 2020. For information about the calculation of expected aggregate LTIP and SIP share payouts, see Note 16.

PREFERRED STOCK

PREFERRED STOCK	3 Months Ended
PREFERRED STOCK	Mar. 31, 2021
PREFERRED STOCK
PREFERRED STOCK	6 . On February 5, 2020, Legacy Dime completed an underwritten public offering of 2,999,200 shares, or $75.0 million in aggregate liquidation preference, of its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share, with a liquidation preference of $25.00 per share. The net proceeds received from the issuance of preferred stock at the time of closing were $72.2 million. On June 10, 2020, Legacy Dime completed an underwritten public offering, a reopening of the February 5, 2020 original issuance, of 2,300,000 shares, or $57.5 million in aggregate liquidation preference, of its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share (the “Preferred Stock”), with a liquidation preference of $25.00 per share. The net proceeds received from the issuance of preferred stock at the time of closing were $44.3 million. At the Effective Time of the Merger, each outstanding share of the Preferred Stock was converted into the right to receive one share of a newly created series of the Company’s preferred stock having the same powers, preferences and rights as the Legacy Dime Preferred Stock. The Company expects to pay dividends when, as, and if declared by its board of directors, at a fixed rate of 5.50% per annum, payable quarterly, in arrears, on February 15, May 15, August 15 and November 15 of each year. The Preferred Stock is perpetual and has no stated maturity. The Company may redeem the Preferred Stock at its option at a redemption price equal to $25.00 per share, plus any declared and unpaid dividends (without regard to any undeclared dividends), subject to regulatory approval, on or after June 15, 2025 or within 90 days following a regulatory capital treatment event, as described in the prospectus supplement and accompanying prospectus relating to the offering.

INVESTMENT AND MORTGAGE-BACKED

INVESTMENT AND MORTGAGE-BACKED SECURITIES	3 Months Ended
INVESTMENT AND MORTGAGE-BACKED SECURITIES	Mar. 31, 2021
INVESTMENT AND MORTGAGE-BACKED SECURITIES
INVESTMENT AND MORTGAGE-BACKED SECURITIES	7 . The following tables summarize the major categories of securities owned by the Company as of the dates indicated: March 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities available-for-sale: Agency notes $ 72,500 $ — $ (2,930) $ 69,570 Treasury securities 92,547 — (275) 92,272 Corporate securities 95,786 3,367 (420) 98,733 Pass-through MBS issued by GSEs 321,442 7,053 (4,788) 323,707 Agency Collateralized Mortgage Obligations ("CMOs") 522,841 6,305 (6,324) 522,822 State and municipal obligations 45,498 179 (288) 45,389 Total securities available-for-sale $ 1,150,614 $ 16,904 $ (15,025) $ 1,152,493 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities available-for-sale: Agency notes $ 47,500 $ 12 $ (91) $ 47,421 Corporate securities 62,021 2,440 — 64,461 Pass-through MBS issued by GSEs 135,842 7,672 (31) 143,483 Agency CMOs 274,898 8,674 (76) 283,496 Total securities available-for-sale $ 520,261 $ 18,798 $ (198) $ 538,861 As a result of the Merger, the Company acquired $652.0 million of securities available-for-sale on the Merger Date. The carrying amount of securities pledged as collateral was $637.1 million and $99.4 million at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021 and December 31, 2020, 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 amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. March 31, 2021 Amortized Fair (In thousands) Cost Value Available-for-sale Within one year $ 2,123 $ 2,130 One to five years 116,049 115,878 Five to ten years 183,014 182,961 Beyond ten years 5,145 4,995 Pass-through MBS issued by GSEs and agency CMO 844,283 846,529 Total $ 1,150,614 $ 1,152,493 The following table presents the information related to sales of securities available-for-sale as of the periods indicated: Three Months Ended March 31, (In thousands) 2021 2020 Corporate Securities: Proceeds $ 46,754 $ — Gross gains 709 — Tax expense on gain 225 — Gross losses 41 — Tax benefit on loss 13 — Pass through MBS issued by GSEs: Proceeds 26,823 — Gross gains 187 — Tax expense on gain 59 — Gross losses 35 — Tax benefit on loss 11 — Agency CMOs: Proceeds 41,324 4,199 Gross gains 268 8 Tax expense on gain 85 3 Gross losses 44 — Tax benefit on loss 14 — State and municipal obligations: Proceeds 19,657 — Gross gains 143 — Tax expense on gain 45 — Three Months Ended March 31, (In thousands) 2021 2020 Proceeds: Marketable equity securities $ 6,101 $ 137 Net gain of $131 thousand was recognized on marketable equity securities for the three-month period ended March 31, 2021. Net loss of $472 thousand was recognized on marketable equity securities for the three-month period ended March 31, 2020. Marketable equity securities were fully liquidated in connection with the termination of the BMP. The following table summarizes the gross unrealized losses and fair value of investment securities aggregated by investment category and the length of time the securities were in a continuous unrealized loss position as of the dates indicated: March 31, 2021 Less than 12 12 Consecutive Consecutive Months Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities available-for-sale: Agency notes $ 69,570 $ 2,930 $ — $ — $ 69,570 $ 2,930 Treasury securities 92,272 275 — — 92,272 275 Corporate securities 18,278 420 — — 18,278 420 Pass-through MBS issued by GSEs 181,917 4,788 — — 181,917 4,788 Agency CMOs 239,145 6,324 — — 239,145 6,324 State and municipal obligations 19,004 288 — — 19,004 288 December 31, 2020 Less than 12 12 Consecutive Consecutive Months Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities available-for-sale: Agency notes $ 22,409 $ 91 $ — $ — $ 22,409 $ 91 Corporate securities — — — — — — Pass-through MBS issued by GSEs 5,007 31 — — 5,007 31 Agency CMOs 6,563 30 4,954 46 11,517 76 The issuers of securities available-for-sale are primarily U.S. government-sponsored entities or agencies. The decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality. In accordance with the Company’s investment policy, corporate notes are rated "investment grade" at the time of purchase and the financials of the issuers are reviewed quarterly. It is likely that the Company will not be required to sell the securities before their anticipated recovery, and as such, the Company does not consider these securities to be other-than-temporarily-impaired at March 31, 2021. On January 1, 2021, the Company adopted the CECL Standard, which requires that debt securities held to maturity be accounted for under the current expected credit losses model, including historical loss experience and impact of current conditions and reasonable and supportable forecasts, with an associated allowance for credit losses. In addition, while credit losses on debt securities available for sale should be measured in accordance with the other-than-temporary impairment (“OTTI”) framework under current GAAP, the amendments in the CECL Standard require that these credit losses be presented as an allowance for credit losses. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. There are no held maturity securities as of March 31, 2021.

LOANS HELD FOR INVESTMENT, NET

LOANS HELD FOR INVESTMENT, NET	3 Months Ended
LOANS HELD FOR INVESTMENT, NET	Mar. 31, 2021
LOANS HELD FOR INVESTMENT, NET
LOANS HELD FOR INVESTMENT, NET	8. The following table presents the loan categories for the period ended as indicated: (In thousands) March 31, 2021 December 31, 2020 One-to-four family residential and cooperative/condominium apartment $ 696,415 $ 184,989 Multifamily residential and residential mixed-use 3,567,207 2,758,743 Commercial real estate ("CRE") 3,631,287 1,878,167 Acquisition, development, and construction ("ADC") 254,170 156,296 Total real estate loans 8,149,079 4,978,195 Commercial and industrial ("C&I") 2,332,610 641,533 Other loans 24,409 2,316 Total 10,506,098 5,622,044 Allowance for credit losses (98,200) (41,461) Loans held for investment, net $ 10,407,898 $ 5,580,583 As a result of the Merger, the Company recorded $4.53 billion of loans held for investment on the Merger Date. As of March 31, 2021, included in C&I loans was $1.43 billion of Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans. There was $321.9 million of SBA PPP loans at December 31, 2020. These loans carry a 100% guarantee from the SBA and have no allowance for credit losses allocated to them based on the nature of the guarantee. The following tables present data regarding the allowance for credit losses activity for the periods indicated: At or for the Three Months Ended March 31, 2021 Real Estate Loans One-to-Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for credit losses: Beginning balance, prior to the adoption of CECL $ 644 $ 17,016 $ 9,059 $ 1,993 $ 28,712 $ 12,737 $ 12 $ 41,461 Impact of adopting CECL 1,048 (8,254) 4,849 381 (1,976) (1,935) (8) (3,919) Adjusted beginning balance as of January 1, 2021 1,692 8,762 13,908 2,374 26,736 10,802 4 37,542 PCD Day 1 2,220 3,292 23,124 117 28,753 23,374 157 52,284 Provision (credit) for credit losses 1,235 (1,397) 7,813 1,408 9,059 3,219 371 12,649 Charge-offs (14) (236) (8) — (258) (4,017) — (4,275) Ending balance $ 5,133 $ 10,421 $ 44,837 $ 3,899 $ 64,290 $ 33,378 $ 532 $ 98,200 At or for the Three Months Ended March 31, 2020 Real Estate Loans One-to Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for credit losses: Beginning balance $ 269 $ 10,142 $ 3,900 $ 1,244 $ 15,555 $ 12,870 $ 16 $ 28,441 Provision (credit) for credit losses 376 4,127 2,442 427 7,372 641 (1) 8,012 Charge-offs — — (6) — (6) — — (6) Recoveries — 14 — — 14 2 — 16 Ending balance $ 645 $ 14,283 $ 6,336 $ 1,671 $ 22,935 $ 13,513 $ 15 $ 36,463 The increase in allowance for credit losses was primarily attributable to the Day 1 allowance recognized on acquired PCD loans of $52.3 million, coupled with the provision for credit losses on loans recognized of $12.6 million for the quarter, partially offset by $4.3 million in net charge-offs and the impact of the adoption of the CECL standard of $3.9 million. The provision of $12.6 million for the quarter primarily resulted from the provision for credit losses recorded on acquired non-PCD loans which totaled $20.3 million for the quarter, partially offset by a negative $7.6 million provision on the remainder of the portfolio as a result of the improvement in forecasted macroeconomic conditions. The following table presents the amortized cost basis of loans on non-accrual status as of the period indicated: March 31, 2021 Non-accrual with Non-accrual with (In thousands) No Allowance Allowance Reserve One-to-four family residential and cooperative/condominium apartment $ - $ 5,384 $ 134 Multifamily residential and residential mixed-use 4,844 - - CRE 3,552 7,043 2,786 ADC - 104 59 C&I - 14,523 7,881 Other - 99 58 Total $ 8,396 $ 27,153 $ 10,918 The Company did not The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method, prior to the adoption of ASC 326, as of the dates indicated: December 31, 2020 Real Estate Loans One-to-Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 6,474 $ — $ 6,474 Collectively evaluated for impairment 644 17,016 9,059 1,993 28,712 6,263 12 34,987 Total ending allowance balance $ 644 $ 17,016 $ 9,059 $ 1,993 $ 28,712 $ 12,737 $ 12 $ 41,461 Loans: Individually evaluated for impairment $ — $ 1,863 $ 2,704 $ — $ 4,567 $ 12,502 $ — $ 17,069 Collectively evaluated for impairment 184,989 2,756,880 1,875,463 156,296 4,973,628 629,031 2,316 5,604,975 Total ending loans balance $ 184,989 $ 2,758,743 $ 1,878,167 $ 156,296 $ 4,978,195 $ 641,533 $ 2,316 $ 5,622,044 Impaired Loans (prior to the adoption of ASC 326) A loan is considered impaired when, based on then current information and events, it is probable that all contractual amounts due will not be collected in accordance with the terms of the loan. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays or shortfalls generally are not classified as impaired. Management determines the significance of payment delays and shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Bank considers TDRs and all non-accrual loans, except non-accrual one-to-four family loans in less than the FNMA Limits, to be impaired. Non-accrual one-to-four family loans equal to or less than the FNMA Limits, as well as all consumer loans, are considered homogeneous loan pools and are not required to be evaluated individually for impairment unless considered a TDR. Impairment is typically measured using the difference between the outstanding loan principal balance and either: 1) the likely realizable value of a note sale; 2) the fair value of the underlying collateral, net of likely disposal costs, if repayment is expected to come from liquidation of the collateral; or 3) the present value of estimated future cash flows (using the loan’s pre-modification rate for certain performing TDRs). If a TDR is substantially performing in accordance with its restructured terms, management will look to either the potential net liquidation proceeds of the underlying collateral or the present value of the expected cash flows from the debt service in measuring impairment (whichever is deemed most appropriate under the circumstances). If a TDR has re-defaulted, generally the likely realizable net proceeds from either a note sale or the liquidation of the collateral is considered when measuring impairment. Measured impairment is either charged off immediately or, in limited instances, recognized as an allocated reserve within the allowance for loan losses. The following tables summarize impaired loans with no related allowance recorded and with related allowance recorded as of the periods indicated (by collateral type within the real estate loan segment): The following table summarizes impaired loans recorded as of the date indicated: December 31, 2020 Unpaid Principal Recorded Related (In thousands) Balance Investment (1) Allowance With no related allowance recorded: Multifamily residential and residential mixed-use $ 1,863 $ 1,863 $ — CRE 2,704 2,704 — Total with no related allowance recorded 4,567 4,567 — With an allowance recorded: C&I 12,502 12,502 6,474 Total with an allowance recorded 12,502 12,502 6,474 Total $ 17,069 $ 17,069 $ 6,474 (1) The recorded investment excludes net deferred costs due to immateriality. The following table presents information for impaired loans for the period indicated: Three Months Ended March 31, 2020 Average Interest Recorded Income (In thousands) Investment (1) Recognized (2) With no related allowance recorded: One-to-four family residential and cooperative/condominium apartment $ 2,948 $ — Multifamily residential and residential mixed-use 743 6 CRE 58 1 Total with no related allowance recorded 3,749 7 With an allowance recorded: C&I 10,082 — Total $ 13,831 $ 7 (1) The recorded investment excludes net deferred costs due to immateriality. (2) Cash basis interest and interest income recognized on accrual basis approximate each other. The following tables summarize the past due status of the Company’s investment in loans (excluding net deferred costs and accrued interest) as of the dates indicated: March 31, 2021 Loans 90 Days or 30 to 59 60 to 89 More Past Due Days Days and Still Non- Total Total (In thousands) Past Due Past Due Accruing Interest accrual (1) Past Due Current Loans Real estate: One-to-four family residential, including condominium and cooperative apartment $ 7,027 $ 686 $ 45 $ 5,384 $ 13,142 $ 683,273 $ 696,415 Multifamily residential and residential mixed-use 3,984 8,340 2,871 4,844 20,039 3,547,168 3,567,207 CRE 4,702 3,334 2,259 10,595 20,890 3,610,397 3,631,287 ADC — — — 104 104 254,066 254,170 Total real estate 15,713 12,360 5,175 20,927 54,175 8,094,904 8,149,079 C&I 13,254 410 3,652 14,523 31,839 2,300,771 2,332,610 Other 9 89 — 99 197 24,212 24,409 Total $ 28,976 $ 12,859 $ 8,827 $ 35,549 $ 86,211 $ 10,419,887 $ 10,506,098 (1) Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of March 31, 2021. December 31, 2020 Loans 90 Days or 30 to 59 60 to 89 More Past Due Days Days and Still Non- Total Total (In thousands) Past Due Past Due Accruing Interest accrual (1) Past Due Current Loans Real estate: One-to-four family residential, including condominium and cooperative apartment $ — $ — $ 44 $ 858 $ 902 $ 184,087 $ 184,989 Multifamily residential and residential mixed-use — — 437 1,863 2,300 2,756,443 2,758,743 CRE 15,351 — — 2,704 18,055 1,860,112 1,878,167 ADC — — — — — 156,296 156,296 Total real estate 15,351 — 481 5,425 21,257 4,956,938 4,978,195 C&I — 917 2,848 12,502 16,267 625,266 641,533 Other 8 1 — 1 10 2,306 2,316 Total $ 15,359 $ 918 $ 3,329 $ 17,928 $ 37,534 $ 5,584,510 $ 5,622,044 (1) Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of December 31, 2020. Accruing Loans 90 Days or More Past Due: The Company continued accruing interest on eight loans with an outstanding balance of $8.8 million at March 31, 2021, and three loans with an outstanding balance of $3.3 million at December 31, 2020, all of which were 90 days or more past due on their respective contractual maturity dates. These loans continued to make monthly payments consistent with their initial contractual amortization schedule exclusive of the balloon payments due at maturity. These loans were well secured and/or were expected to be refinanced, and, therefore, remained on accrual status and were deemed performing assets at the dates indicated above. Collateral Dependent Loans: At March 31, 2021, the Company had collateral dependent loans which were individually evaluated to determine expected credit losses. Collateral dependent CRE loans totaled $66.0 million and had a related allowance for credit losses totaling $17.4 million at March 31, 2021. The loans were secured by real estate. Collateral dependent multi-family residential and residential mixed-use loans totaled $12.5 million and had a related allowance for credit losses totaling $2.6 million. The loans were secured by real estate. Collateral dependent C&I loans totaled $8.0 million and had a related allowance for credit losses totaling $4.1 million. The loans were secured by business assets. Loan payment deferrals due to COVID-19 Consistent with regulatory guidance to work with borrowers during the unprecedented situation caused by the COVID-19 pandemic and as outlined in the CARES Act, the Company established a formal payment deferral program in April 2020 for borrowers that have been adversely affected by the pandemic. As of March 31, 2021, the Company had 34 loans, representing outstanding loan balances of $66.7 million, that were deferring both principal and interest (“P&I” deferrals). The table below presents the P&I deferrals as of March 31, 2021: March 31, 2021 Number of Loans Balance (1) % of Portfolio (Dollars in thousands) One-to-four family residential and cooperative/condominium apartment 15 $ 15,489 2.2 % Multifamily residential and residential mixed-use — — — CRE 8 24,174 0.7 ADC 1 13,500 5.3 C&I 10 13,491 0.6 Total 34 $ 66,654 0.6 (1) Amount excludes net deferred costs due to immateriality. Pursuant to regulatory guidance, and guidance under Section 4013 of the CARES Act, a qualified loan modification, such as a payment deferral, is exempt by law from classification as a TDR as defined by GAAP, was expected to expire on December 31, 2020. The 2021 Consolidated Appropriations Act, which was signed into law December of 2020, extended the exemption for TDR classification until the earlier of January 1, 2022 or the date that is 60 days after the date on which the national emergency concerning the COVID-19 outbreak is lifted. Risk-ratings on COVID-19 loan deferrals are evaluated on an ongoing basis. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit structure, loan documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying them as to credit risk. This analysis includes all loans, such as multifamily residential, mixed-use residential ( i.e., i.e. Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date. Substandard. Doubtful. The following is a summary of the credit risk profile of loans by internally assigned grade as of the periods indicated, the years represent the year of origination for non-revolving loans: March 31, 2021 (In thousands) 2021 2020 2019 2018 2017 2016 and Prior Revolving Revolving-Term Total One-to-four family residential, and condominium/cooperative apartment: Pass $ 30,658 $ 102,503 $ 95,992 $ 105,587 $ 101,101 $ 177,780 $ 54,179 $ 13,426 $ 681,226 Special mention — — 381 152 371 5,106 846 1,106 7,962 Substandard — — 745 46 — 5,157 — 1,279 7,227 Doubtful — — — — — — — — — Total one-to-four family residential, and condominium/cooperative apartment 30,658 102,503 97,118 105,785 101,472 188,043 55,025 15,811 696,415 Multifamily residential and residential mixed-use: Pass 95,876 365,073 518,902 215,459 464,424 1,672,655 9,698 11 3,342,098 Special mention — — 1,005 — 17,169 17,057 — — 35,231 Substandard — — 34,421 27,280 32,564 95,117 496 — 189,878 Doubtful — — — — — — — — — Total multifamily residential and residential mixed-use 95,876 365,073 554,328 242,739 514,157 1,784,829 10,194 11 3,567,207 CRE: Pass 184,029 867,480 604,893 396,946 404,571 978,940 50,050 26,440 3,513,349 Special mention — 4,256 2,673 9,031 13,536 11,578 — — 41,074 Substandard — 589 3,400 13,235 22,060 37,567 — 10 76,861 Doubtful — — — — — — — 3 3 Total CRE 184,029 872,325 610,966 419,212 440,167 1,028,085 50,050 26,453 3,631,287 ADC: Pass 8,105 39,106 23,599 10,520 5,615 1,355 121,537 29,651 239,488 Special mention — — — 1,077 — — — 13,500 14,577 Substandard — — — — — 105 — — 105 Doubtful — — — — — — — — — Total ADC 8,105 39,106 23,599 11,597 5,615 1,460 121,537 43,151 254,170 C&I: Pass 560,948 991,821 71,898 44,089 47,108 38,787 461,029 42,082 2,257,762 Special mention — 2,345 1,270 5,553 765 559 22,566 3,078 36,136 Substandard — 49 839 1,417 3,228 1,314 4,118 15,190 26,155 Doubtful — — 210 — 11,929 190 — 228 12,557 Total C&I 560,948 994,215 74,217 51,059 63,030 40,850 487,713 60,578 2,332,610 Total Loans $ 879,616 $ 2,373,222 $ 1,360,228 $ 830,392 $ 1,124,441 $ 3,043,267 $ 724,519 $ 146,004 $ 10,481,689 December 31, 2020 Special (In thousands) Pass Mention Substandard Doubtful Total Real Estate: One-to-four family residential and condominium/cooperative apartment $ 183,293 $ — $ 1,696 $ — $ 184,989 Multifamily residential and residential mixed-use 2,523,258 56,400 179,085 — 2,758,743 CRE 1,831,712 13,861 32,594 — 1,878,167 ADC 142,796 13,500 — — 156,296 Total real estate 4,681,059 83,761 213,375 — 4,978,195 C&I 613,691 2,131 13,315 12,396 641,533 Total Real Estate and C&I $ 5,294,750 $ 85,892 $ 226,690 $ 12,396 $ 5,619,728 For other loans, the Company evaluates credit quality based on payment activity. Other loans that are 90 days or more past due are placed on non-accrual status, while all remaining other loans are classified and evaluated as performing. The following is a summary of the credit risk profile of other loans by internally assigned grade: (In thousands) March 31, 2021 December 31, 2020 Performing $ 24,310 $ 2,315 Non-accrual 99 1 Total $ 24,409 $ 2,316

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2021
LEASES
LEASES	9 . As a result of the Merger, the Company acquired $45.6 million of operating lease assets and $45.3 million of operating lease liabilities on the Merger Date. The operating lease asset and lease liability are determined at the commencement date of the lease based on the present value of the lease payments. As most of our leases do not provide an implicit rate, the Company used its incremental borrowing rate, the rate of interest to borrow on a collateralized basis for a similar term, at the lease commencement date. The Company made a policy election to exclude the recognition requirements of ASU 2016-02 to short-term leases, those leases with original terms of 12 months or less. Short-term lease payments are recognized in the income statement on a straight-line basis over the lease term. Certain leases may include one or more options to renew. The exercise of lease renewal options is typically at the Company’s discretion and are included in the operating lease liability if it is reasonably certain that the renewal option will be exercised. Certain real estate leases may contain lease and non-lease components, such as common area maintenance charges, real estate taxes, and insurance, which are generally accounted for separately and are not included in the measurement of the lease liability since they are generally able to be segregated. The Company does not sublease any of its leased properties. The Company does not lease properties from any related parties. Maturities of the Company’s operating lease liabilities at March 31, 2021 are as follows: Rent to be (In thousands) Capitalized 2021 $ 10,570 2022 11,367 2023 9,665 2024 9,530 2025 9,141 Thereafter 26,289 Total undiscounted lease payments 76,562 Less amounts representing interest 5,313 Lease liability $ 71,249 Other information related to operating leases was as follows: Three Months Ended March 31, (In thousands) 2021 2020 Operating lease cost $ 3,158 $ 1,603 Cash paid for amounts included in the measurement of operating lease liabilities 3,050 1,811 The weighted average remaining lease term at March 31, 2021 and March 31, 2020 was 7.2 years and 7.9 years. The weighted average discount rate at March 31, 2021 and March 31, 2020 was 1.87% and 3.25% respectively.

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	3 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES	Mar. 31, 2021
DERIVATIVES AND HEDGING ACTIVITIES
DERIVATIVES AND HEDGING ACTIVITIES	10. The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s loan portfolio. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. The Company engages in both cash flow hedges and freestanding derivatives. Cash Flow Hedges Cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company uses these types of derivatives to hedge the variable cash flows associated with existing or forecasted issuances of short-term borrowings. 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 expense 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 expense as interest payments are made on the Company’s debt. During the next twelve months, the Company estimates that an additional $117 thousand will be reclassified as an increase to interest expense. The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of twenty-four months (excluding forecasted transactions related to the payment of variable interest on existing financial instruments). During the three-month period ended March 31, 2021, the Company terminated 34 derivatives with notional values totaling $785.0 million, resulting in a termination value of $16.5 million which was recognized in loss on termination of derivatives in non-interest income. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of the periods indicated. March 31, 2021 December 31, 2020 Notional Fair Value Fair Value Notional Fair Value Fair Value (Dollars in thousands) Count Amount Assets Liabilities Count Amount Assets Liabilities Included in derivative assets/(liabilities): Interest rate swaps related to FHLBNY advances 4 $ 150,000 $ 3,944 $ — — $ — $ — $ — Interest rate swaps related to FHLBNY advances — $ — $ — $ — 32 $ 655,000 $ — $ (18,442) The table below presents the effect of the cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss) as of March 31, 2021 and 2020. Three Months Ended March 31, (In thousands) 2021 2020 Gain recognized in other comprehensive income $ 21,453 $ (20,581) Gain reclassified from other comprehensive income into interest expense 854 204 All cash flow hedges are recorded gross on the balance sheet. The cash flow hedges involve derivative agreements with third-party counterparties that contain provisions requiring the Bank to post cash collateral if the derivative exposure exceeds a threshold amount. As of March 31, 2021, the bank did not post collateral to the third-party counterparties. Freestanding Derivatives The Company maintains an interest-rate risk protection program for its loan portfolio in order to offer loan level derivatives with certain borrowers and to generate loan level derivative income. The Company enters into interest rate swap or interest rate floor agreements with borrowers. These interest rate derivatives are designed such that the borrower synthetically attains a fixed-rate loan, while the Company receives floating rate loan payments. The Company offsets the loan level interest rate swap exposure by entering into an offsetting interest rate swap or interest rate floor with an unaffiliated and reputable bank counterparties. These interest rate derivatives do not qualify as designated hedges, under ASU 815; therefore, each interest rate derivative is accounted for as a freestanding derivative. The notional amounts of the interest rate derivatives do not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate derivative agreements. The following table reflects freestanding derivatives included in the Consolidated Statements of Financial Condition as of the period indicated: March 31, 2021 Notional Fair Value Fair Value (In thousands) Count Amount Assets Liabilities Included in derivative assets/(liabilities): Loan level interest rate swaps with borrower 109 $ 689,408 $ 28,104 $ — Loan level interest rate swaps with borrower 72 543,095 — (16,468) Loan level interest rate floors with borrower 46 406,923 — (5,294) Loan level interest rate swaps with third-party counterparties 109 689,408 — (28,104) Loan level interest rate swaps with third-party counterparties 72 543,095 16,468 — Loan level interest rate floors with third-party counterparties 46 406,923 5,294 — December 31, 2020 Notional Fair Value Fair Value (In thousands) Count Amount Assets Liabilities Included in derivative assets/(liabilities): Loan level interest rate swaps with borrower 65 $ 570,277 $ 24,764 $ — Loan level interest rate floors with borrower 41 364,643 — (5,832) Loan level interest rate swaps with third-party counterparties 65 570,277 — (24,764) Loan level interest rate floors with third-party counterparties 41 364,643 5,832 — Loan level derivative income is recognized on the mark-to-market of the interest rate swap as a fair value adjustment at the time the transaction is closed. Total loan level derivative income is included in non-interest income as follows: Three Months Ended March 31, (In thousands) 2021 2020 Loan level derivative income $ 1,792 $ 1,163 The interest rate swap product with the borrower is cross collateralized with the underlying loan and therefore there is no posted collateral. Certain interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount. As of March 31, 2021, posted collateral was $10.8 million. Credit Risk Related Contingent Features The Company’s agreements with each of its derivative counterparties state that if the Company defaults on any of its indebtedness, it could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty. The Company’s agreements with certain of its derivative counterparties state that if the Bank fails to maintain its status as a well-capitalized institution, the Bank could be required to terminate its derivative positions with the counterparty. As of March 31, 2021, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $7.1 million for those related to loan level derivatives. If the Company had breached any of the above provisions at March 31, 2021, it could have been required to settle its obligations under the agreements at the termination value with the respective counterparty. There were no provisions breached for the three-month period ended March 31, 2021.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Mar. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	11. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 Inputs Level 2 Inputs e.g. Level 3 Inputs – Assets and Liabilities Measured at Fair Value on a Recurring Basis Securities The Company’s marketable equity securities and available-for-sale securities are reported at fair value, which were determined utilizing prices obtained from independent parties. The valuations obtained are based upon market data, and often utilize evaluated pricing models that vary by asset and incorporate available trade, bid and other market information. For securities that do not trade on a daily basis, pricing applications apply available information such as benchmarking and matrix pricing. The market inputs normally sought in the evaluation of securities include benchmark yields, reported trades, broker/dealer quotes (obtained only from market makers or broker/dealers recognized as market participants), issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. For certain securities, additional inputs may be used or some market inputs may not be applicable. Prioritization of inputs may vary on any given day based on market conditions. All MBS, CMO, treasury securities and agency notes available-for-sale are guaranteed either implicitly or explicitly by GSEs as of March 31, 2021 and December 31, 2020. In accordance with the Company’s investment policy, corporate securities are rated "investment grade" at the time of purchase and the financials of the issuers are reviewed quarterly. Obtaining market values as of March 31, 2021 and December 31, 2020 for these securities utilizing significant observable inputs was not difficult due to their liquid nature. Derivatives Derivatives represent interest rate swaps and estimated fair values are based on valuation models using observable market data as of the measurement date. The following tables present financial assets liabilities measured at fair value on a recurring basis as of the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements at March 31, 2021 Using Level 1 Level 2 Level 3 (In thousands) Total Inputs Inputs Inputs Financial Assets Securities available-for-sale: Agency Notes $ 69,570 $ — $ 69,570 $ — Treasury Securities 92,272 — 92,272 — Corporate Securities 98,733 — 98,733 — Pass-through MBS issued by GSEs 323,707 — 323,707 — Agency CMOs 522,822 — 522,822 — State and municipal obligations 45,389 — 45,389 — Derivative – cash flow hedges 3,944 — 3,944 — Derivative – freestanding derivatives, net 41,816 — 41,816 — Financial Liabilities Derivative – cash flow hedges — — — — Derivative – freestanding derivatives, net 41,816 — 41,816 — Fair Value Measurements at December 31, 2020 Using Level 1 Level 2 Level 3 (In thousands) Total Inputs Inputs Inputs Financial Assets Marketable equity securities (Registered Mutual Funds) Domestic equity mutual funds $ 1,769 $ 1,769 $ — $ — International equity mutual funds 468 468 — — Fixed income mutual funds 3,733 3,733 — — Securities available-for-sale: Agency Notes 47,421 — 47,421 — Corporate Securities 64,461 — 64,461 — Pass-through MBS issued by GSEs 143,483 — 143,483 — Agency CMOs 283,496 — 283,496 — Derivative – cash flow hedges — — — — Derivative – freestanding derivatives 30,596 — 30,596 — Financial Liabilities Derivative – cash flow hedges 18,442 — 18,442 — Derivative – freestanding derivatives 30,596 — 30,596 — Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis. That is, they are subject to fair value adjustments in certain circumstances. Financial assets measured at fair value on a nonrecurring basis include certain individually evaluated loans (or impaired loans prior to the adoption of ASC 326) reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. There were no impaired loans carried at fair value at March 31, 2021 and December 31, 2020. Financial Instruments Not Measured at Fair Value The methods of determining the fair value of assets and liabilities presented in this note are consistent with our methodologies disclosed in Note 24 to the Company’s Consolidated Financial Statements included in the Annual Report on Form 10-K. The following tables present the carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or nonrecurring is as follows for the dates indicated, segmented by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements at March 31, 2021 Using Carrying Level 1 Level 2 Level 3 (In thousands) Amount Inputs Inputs Inputs Total Financial Assets Cash and due from banks $ 676,723 $ 676,723 $ — $ — $ 676,723 Loans, net 10,407,898 — — 10,489,350 10,489,350 Accrued interest receivable 51,100 — 3,602 47,498 51,100 Financial Liabilities Savings, money market and checking accounts 9,270,496 9,270,496 — — 9,270,496 Certificates of Deposits ("CDs") 1,540,316 — 1,545,436 — 1,545,436 FHLBNY Advances 533,865 — 534,049 — 534,049 Subordinated debt, net 197,234 — 198,297 — 198,297 Other borrowings 126,763 126,763 — — 126,763 Accrued interest payable 2,024 — 2,024 — 2,024 Fair Value Measurements at December 31, 2020 Using Carrying Level 1 Level 2 Level 3 (In thousands) Amount Inputs Inputs Inputs Total Financial Assets Cash and due from banks $ 243,603 $ 243,603 $ — $ — $ 243,603 Loans, net 5,580,583 — — 5,598,787 5,598,787 Accrued interest receivable 34,815 2 1,584 33,229 34,815 Financial Liabilities Savings, money market and checking accounts 3,212,495 3,212,495 — — 3,212,495 CDs 1,322,638 — 1,328,554 — 1,328,554 FHLBNY Advances 1,204,010 — 1,207,890 — 1,207,890 Subordinated debt, net 114,052 — 114,340 — 114,340 Other borrowings 120,000 120,000 — — 120,000 Accrued interest payable 1,734 — 1,734 — 1,734

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS	3 Months Ended
OTHER INTANGIBLE ASSETS	Mar. 31, 2021
OTHER INTANGIBLE ASSETS
OTHER INTANGIBLE ASSETS	12. As a result of the Merger, the Company recorded $10.2 million of core deposit intangible assets and a $780 thousand non-compete agreement intangible asset on the Merger Date. The following table presents the carrying amount and accumulated amortization of intangible assets that are amortizable and arose from the Merger. Core Deposit Non-complete (In thousands) Intangibles Agreement Total Gross carrying value $ 10,204 $ 780 $ 10,984 Accumulated amortization (357) - (357) Net carrying amount $ 9,847 $ 780 $ 10,627 Amortization expense recognized on intangible assets was $357 thousand for the three months ended March 31, 2021. There was no amortization expense recognized on intangible assets for the three months ended March 31, 2020. Estimated amortization expense for the remainder of 2021 through 2025 and thereafter is as follows: (In thousands) Total 2021 $ 2,265 2022 1,878 2023 1,425 2024 1,163 2025 958 Thereafter 2,938 Total $ 10,627

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	3 Months Ended
FEDERAL HOME LOAN BANK ADVANCES	Mar. 31, 2021
FEDERAL HOME LOAN BANK ADVANCES
FEDERAL HOME LOAN BANK ADVANCES	13. The following tables present the contractual maturities and weighted average interest rates of FHLB advances for each of the next five years. There are no FHLB advances with contractual maturities after 2022. March 31, 2021 (Dollars in thousands) Weighted Contractual Maturity Amount Average Rate Overnight $ 175,000 0.32 % 2021 308,865 0.35 2022 50,000 0.37 Total FHLB advances $ 533,865 0.34 % December 31, 2020 (Dollars in thousands) Weighted Contractual Maturity Amount Average Overnight $ — — % 2021 1,144,010 0.52 2022 60,000 0.60 Total FHLB advances $ 1,204,010 0.53 % Each FHLB advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $3.8 billion and $2.2 billion of residential and commercial mortgage loans under a blanket lien arrangement at March 31, 2021 and December 31, 2020, respectively. Based on this collateral and the Company's holdings of FHLB stock, the Company is eligible to borrow up to a total of $3.9 billion at March 31, 2021. As part of the Merger, $216.3 million of FHLB advances were acquired on the Merger Date. During the three-month period ended March 31, 2021, the Company extinguished $130.2 million of FHLBNY advances that had a weighted average rate of 1.91%. The prepayment penalty expense was recognized as a $1.6 million loss on extinguishment of debt in the first quarter of 2021. There were no prepayments of FHLBNY advances during the three months ended March 31, 2020.

SUBORDINATED DEBENTURES

SUBORDINATED DEBENTURES	3 Months Ended
SUBORDINATED DEBENTURES	Mar. 31, 2021
SUBORDINATED DEBENTURES
SUBORDINATED DEBENTURES	14. In connection with the Merger, the Company assumed $115.0 million in aggregate principal amount of the 4.50% Fixed-to-Floating Rate Subordinated Debentures due 2027 of Legacy Dime on the Merger Date. During the year ended December 31, 2017, the Legacy Dime issued $115.0 million of fixed-to-floating rate subordinated notes due June 2027, which become callable commencing on June 15, 2022. The notes will mature on June 15, 2027 (the “Maturity Date”). From and including June 13, 2017 until but excluding June 15, 2022, interest will be paid semi-annually in arrears on each June 15 and December 15 at a fixed annual interest rate equal to 4.50%. From and including June 15, 2022 to, but excluding, the Maturity Date or earlier redemption date, the interest rate shall reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 266 basis points, payable quarterly in arrears. Debt issuance cost directly associated with subordinated debt offering was capitalized and netted with subordinated notes payable on the Consolidated Statements of Financial Condition. In September 2015, the Company issued $80.0 million in aggregate principal amount of fixed-to-floating rate subordinated debentures. $40.0 million of the subordinated debentures are callable at par after five years, have a stated maturity of September 30, 2025 and bear interest at a fixed annual rate of 5.25% per year, from and including September 21, 2015 until but excluding September 30, 2020. From and including September 30, 2020 to the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 360 basis points. The remaining $40.0 million of the subordinated debentures are callable at par after ten years, have a stated maturity of September 30, 2030 and bear interest at a fixed annual rate of 5.75% per year, from and including September 21, 2015 until but excluding September 30, 2025. From and including September 30, 2025 to the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 345 basis points. The subordinated debentures totaled $197.2 million at March 31, 2021 and $114.1 million at December 31, 2020. Interest expense related to the subordinated debt was $1.9 million and $1.3 million during the quarters ended March 31, 2021 and 2020, respectively. The subordinated debentures are included in tier 2 capital (with certain limitations applicable) under current regulatory guidelines and interpretations.

RETIREMENT AND POSTRETIREMENT P

RETIREMENT AND POSTRETIREMENT PLANS	3 Months Ended
RETIREMENT AND POSTRETIREMENT PLANS	Mar. 31, 2021
RETIREMENT AND POSTRETIREMENT PLANS
RETIREMENT AND POSTRETIREMENT PLANS	15. As of March 31, 2021, the Company maintains one Legacy Dime employee benefit plan, the Retirement Plan of Dime Community Bank (the "Employee Retirement Plan"). The Company also maintains the two Bridge employee benefit plans that existed before the Merger: (i) the BNB Bank 401(k) Plan (the “401(k) Plan”) and (ii) the BNB Bank Pension Plan. The Dime Community Bank KSOP Plan (“Dime KSOP Plan”) was terminated by resolution of the Board of Directors. The effective date of the plan termination was January 31, 2021, the day immediately prior to the closing of the Merger. As such, all plan assets will be liquidated and transferred into the 401(k) Plan prior to July 31, 2021. The 401(k) Plan is available to all former Dime employees that continue to be employed following the Merger Date, that meet eligibility requirements, and provides tax deferred salary deductions and alternative investment options. Under the provisions of the 401(k) plan, employee contributions are partially matched by the Bank as follows: 100% of each employee’s contributions up to 1% of each employee’s compensation plus 50% of each employee’s contributions over 1% but not in excess of 6% of each employee’s compensation for a maximum contribution of 3.5% of a participating employee’s compensation. Participants can invest their account balances into several investment alternatives. While the Company does not allow for the investment of plan contributions in the Company’s common stock, former Dime employees that continue to be employed following the Merger Date may rollover and hold shares in-kind held in the Dime KSOP Plan to the 401(k) plan and hold the shares in the 401(k) plan. The 401(k) plan also includes a discretionary profit-sharing component. The following table represents the components of net periodic benefit credits included in other non-interest expense, except for service cost which is reported in salaries and employee benefits expense, in the Consolidated Statements of Income for the Employee Retirement Plan and the BNB Bank Pension Plan. Net expenses associated with these plans were comprised of the following components: BNB Bank Employee Retirement Pension Plan Plan Three Months Ended March 31, (In thousands) 2021 2020 Service cost $ 148 $ — Interest cost 249 183 Expected return on assets (984) (428) Amortization of unrealized loss 206 229 Net periodic benefit credit $ (381) $ (16) There was no contribution to the BNB Bank Pension Plan for the three months ended March 31, 2021. In connection with the Merger, the Outside Director Retirement Plan and the BMP were terminated resulting in lump sum payments to the participants in the amounts of $2.8 million for the Outside Director Retirement Plan and $6.2 million for the BMP. The total expense recognized as a curtailment loss in the three months ended March 31, 2021 was $1.5 million. During the three months ended March 31, 2021, the Company made gross lump-sum distributions totaling $11.6 million. These distributions were satisfied by 88,081 shares of Common Stock with a market value of $2.4 million, held by the previous ESOP component of the BMP, of which 41,101 shares were returned to Treasury Stock to cover income tax liabilities, and cash of $9.2 million. As a result of the distribution, a non-cash tax benefit of $301 thousand was recognized as a discrete item in income tax expense in accordance to ASU 2016-09 for the difference between the market value and the cost basis of the Common Stock held by the BMP.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Mar. 31, 2021
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	16. Before the Merger, Bridge and Legacy Dime granted share-based awards under their respective share-based compensation plans, including the Bridge Bancorp, Inc. 2019 Equity Incentive plan (the “2019 Equity Incentive Plan”) and the Dime Community Bancshares, Inc. 2020 Equity and Incentive Plan (the “Legacy Dime 2020 Equity Plan") (collectively, the "Stock Plans"), which are both subject to the accounting requirements of ASC 718. At March 31, 2021, there were 681,098 shares reserved for issuance under the Legacy Dime 2020 Equity Plan and there were 197,889 shares reserved for issuance under the 2019 Equity Incentive Plan. In anticipation of the Merger, Legacy Dime accelerated and vested all unvested and outstanding share-based awards such that there were no outsta nding In connection with the Merger, all outstanding stock options, performance-based restricted stock units and time-vesting restricted stock units of Bridge, which we refer to as the Bridge equity awards, which were outstanding immediately before the Merger Date continue to be awards in respect of Dime common stock following the Merger, subject to the same terms and conditions that were applicable to such awards before the Merger Date. Stock Option Awards The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the period then ended: Weighted- Average Weighted- Remaining Aggregate Number of Average Exercise Contractual Intrinsic Options Price Years Value Options outstanding at January 1, 2021 28,842 $ 15.05 Options outstanding at January 1, 2021 as adjusted for conversion 18,685 23.23 Options acquired (1) 180,020 35.39 Options exercised 15,928 23.37 Options outstanding at March 31, 2021 182,777 $ 35.19 8.0 $ — Options vested and exercisable at March 31, 2021 182,777 $ 35.19 8.0 $ — (1) Options acquired in the Merger expire one year from the date of the Effective Date of the Merger. Information related to stock options during each period is as follows: Three Months Ended March 31, (In thousands) 2021 2020 Cash received for option exercise cost $ 372 $ — Income tax benefit recognized on stock option exercises — — Intrinsic value of options exercised 66 — Restricted Stock Awards The Company has made restricted stock award grants to outside Directors and certain officers under the Stock Plans. Typically, awards to outside Directors fully vest on the first anniversary of the grant date, while awards to officers may vest in equal annual installments over a three The following table presents a summary of activity related to the RSAs granted, and changes during the period then ended: Weighted- Average Number of Grant-Date Shares Fair Value Unvested allocated shares outstanding at January 1, 2021 — $ — Shares acquired 89,043 31.00 Shares granted 431,114 25.54 Shares vested (89,043) 31.00 Shares forfeited (1,050) 25.98 Unvested allocated shares at March 31, 2021 430,064 $ 25.54 Information related to RSAs during each period is as follows: Three Months Ended March 31, (Dollars in thousands) 2021 2020 Compensation expense recognized $ 836 $ 461 Income tax benefit recognized on vesting of RSA — 4 Weighted average remaining years for which compensation expense is to be recognized 3.0 2.4 As of March 31, 2021, there was $10.0 million of total unrecognized compensation cost related to unvested restricted stock awards. Performance Based Equity Awards Legacy Dime maintained the LTIP, a long term incentive award program for certain officers, which meets the criteria for equity-based accounting. For each award, threshold (50% of target), target (100% of target) and stretch (150% of target) opportunities are eligible to be earned over a three-year performance period based on the Company’s relative performance on certain goals that were established at the onset of the performance period and cannot be altered subsequently. Shares of Common Stock are issued on the grant date and held as unvested stock awards until the end of the performance period. Shares are issued at the stretch opportunity in order to ensure that an adequate number of shares are allocated for shares expected to vest at the end of the performance period. At December 31, 2020, the Company modified certain performance based share awards to accelerate the vesting of all outstanding awards in connection with the Merger. There were no outstanding LTIP share awards at December 31, 2020. Total compensation expense of $155 thousand was recognized during the three-month period ended March 31, 2020. Sales Incentive Awards Legacy Dime maintained the SIP, a sales incentive award program for certain officers, which meets the criteria for equity-based accounting. For each quarter an individual can earn their shares based on their sales performance in that quarter. The shares then vest one year from the quarter in which they are earned. Shares of Common Stock are issued on the grant date and held as unvested stock awards until the end of the performance period. They are issued at the maximum opportunity in order to ensure that an adequate number of shares are allocated for shares expected to vest at the end of the performance period. At December 31, 2020, the Company modified certain performance based share awards to accelerate the vesting of all outstanding awards in connection with the Merger. There were no outstanding SIP share awards at December 31, 2020. Total compensation expense of $55 thousand was recognized during the three-month period ended March 31, 2020.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2021
INCOME TAXES
INCOME TAXES	17. During the three months ended March 31, 2021 and 2020, the Company’s consolidated effective tax rates were 25.2% and 21.6%, respectively. There were no significant unusual income tax items during the three-month periods ended March 31, 2021 or 2020. The higher tax rate for the three months ended March 31, 2021 was primarily the result of non-deductible merger expenses and salary expenses during the period.

MERGER RELATED EXPENSES

MERGER RELATED EXPENSES	3 Months Ended
MERGER RELATED EXPENSES	Mar. 31, 2021
MERGER RELATED EXPENSES
MERGER RELATED EXPENSES	18. Merger-related expenses were recorded in the Consolidated Statements of Income as a component of non-interest expense and include costs relating to the Company’s merger with Bridge, as described above. These charges represent one-time costs associated with merger activities and do not represent ongoing costs of the fully integrated combined organization. Accounting guidance requires that merger-related transactional and restructuring costs incurred by the Company be charged to expense as incurred. Costs associated with employee severance and other merger-related compensation expense incurred in connection with the merger with Bridge totaled $12.1 million for the quarter ended March 31, 2021, and were recorded in merger expenses and transaction costs expense on the consolidated statements of income. Merger expenses and transaction costs (inclusive of costs to terminate leases) in connection with the Merger with Bridge, totaled $922 thousand and $24.9 million, respectively, for the quarter ended March 31, 2021, and were recorded in merger expenses and transaction costs in the Consolidated Statements of Income.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2021
BASIS OF PRESENTATION
Risks and Uncertainties	Risks and Uncertainties In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which has spread to most countries, including the United States. The pandemic has adversely affected economic activity globally, nationally and locally. In March 2020, the United States declared a National Public Health Emergency in response to the COVID-19 pandemic. In an effort to mitigate the spread of COVID-19, local state governments, including New York (in which the Bank has retail banking offices), have taken preventative or protective actions such as travel restrictions, advising or requiring individuals to limit or forego their time outside of their homes, and other forced closures for certain types of non-essential businesses. The impact of these actions is expected to continue to have an adverse impact on the economies and financial markets in the United States. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was signed into law at the end of March 2020. The CARES Act is intended to provide relief and lessen a severe economic downturn. The stimulus package includes direct financial aid to American families and economic stimulus to significantly impacted industry sectors. The package also includes extensive emergency funding for hospitals and healthcare providers. It is possible that there will be material, adverse impacts to significant estimates, asset valuations, and business operations, including intangible assets, investments, loans, deferred tax assets, and derivative counter party risk.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF ACCOUNTING POLICIES (Policies)	Mar. 31, 2021
SUMMARY OF ACCOUNTING POLICIES
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair presentation of the Company’s financial condition as of March 31, 2021 and December 31, 2020, the results of operations and statements of comprehensive income for the three-month periods ended March 31, 2021 and 2020, the changes in stockholders’ equity for the three-month periods ended March 31, 2021 and 2020, and cash flows for the three-month periods ended March 31, 2021 and 2020. Please see "Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies" for a discussion of areas in the accompanying unaudited condensed consolidated financial statements utilizing significant estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Allowance for Credit Losses – The adoption of the CECL standard resulted in an initial decrease of $3.9 million to the allowance for credit losses and an increase of $1.4 million to the reserve for unfunded commitments in other liabilities. The after-tax cumulative-effect adjustment of $1.7 million was recorded in retained earnings as of January 1, 2021. The allowance for credit losses is a valuation allowance that is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loan losses are charged against the allowance when management believes it has confirmed the loan balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance. The CECL Standard, which requires that debt securities held to maturity be accounted for under the current expected credit losses model, including historical loss experience and impact of current conditions and reasonable and supportable forecasts, with an associated allowance for credit losses. In addition, while credit losses on debt securities available for sale should be measured in accordance with the other-than-temporary impairment (“OTTI”) framework under current GAAP, the amendments in the CECL Standard require that these credit losses be presented as an allowance for credit losses. For AFS debt securities, a decline in fair value due to credit loss results in recording an allowance for credit losses to the extent the fair value is less than the amortized cost basis. Management estimates the allowance balance required using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historically observed credit loss experience of peer banks within our geography provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or terms as well as changes in environmental conditions, such as changes in unemployment rates, gross domestic product, and real estate pricing. Management evaluates the adequacy of the allowance on a quarterly basis. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods: One-to-four family residential, including condominium and cooperative apartment loans - Multifamily residential and residential mixed-use loans - Commercial real estate and commercial mixed-use loans - 1.25x. Included in commercial real estate loans are also certain Small Business Administration ("SBA") loans in which the loan is secured by underlying real estate as collateral. The Bank may sell a portion of the loan, guaranteed by the SBA, to a third-party investor. Repayment of commercial real estate loans is often dependent upon successful operation or management of the collateral properties, as well as the success of the business and retail tenants occupying the properties. Repayment of such loans is generally more vulnerable to weak economic conditions, such as unemployment rates and commercial real estate prices. Acquisition, development, and construction loans Commercial, Industrial and Agricultural Loans - Other Loans Loans that do not share risk characteristics are evaluated on an individual basis based on various factors. Loans evaluated individually are not included in the collective evaluation. Factors that may be considered are borrower delinquency trends and nonaccrual status, probability of foreclosure or note sale, changes in the borrower’s circumstances or cash collections, borrower’s industry, or other facts and circumstances of the loan or collateral. Individually Evaluated Loans with an ACL and Other Real Estate Owned Appraisals for collateral-dependent loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Appraisal and Credit Departments review the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Management also considers the appraisal values for commercial properties associated with current loan origination activity. Collectively, this information is reviewed to help assess current trends in commercial property values. For each collateral dependent loan, management considers information that relates to the type of property to determine if such properties may have appreciated or depreciated in value since the date of the most recent appraisal. Adjustments to fair value are made only when the analysis indicates a probable decline in collateral values. Adjustments made in the appraisal process are not deemed material to the overall consolidated financial statements given the level of collateral dependent loans measured at fair value on a non-recurring basis. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures – The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet credit exposures, which is included in other liabilities on the consolidated statements of financial condition, is adjusted as a provision for credit loss expense in other operating expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which is the same as the expected loss factor as determined based on the corresponding portfolio segment. Loans acquired in a business combination – A purchased financial asset that does not qualify as a PCD asset is accounted for similar to an originated financial asset. Generally, this means that an entity recognizes the allowance for credit losses for non-PCD assets through net income at the time of acquisition. In addition, both the credit discount and non-credit discount or premium resulting from acquiring a pool of purchased financial assets that do not qualify as PCD assets shall be allocated to each individual asset. This combined discount or premium shall be accreted to interest income using the effective yield method. For further discussion of our loan accounting and acquisitions, see Note 2 – Merger and Note 8 – Loans.

MERGER (Tables)

MERGER (Tables)	3 Months Ended
MERGER (Tables)	Mar. 31, 2021
MERGER
Schedule of Bridge and legacy Dime common stock	Dime Community Bancshares, Inc. Ownership and Market Value Number of Market Value at Bridge Percentage $24.43 Bridge (Dollars and shares in thousands) Outstanding Shares Ownership Share Price Bridge shareholders 19,993 48.5% $ 488,420 Legacy Dime shareholders 21,233 51.5% 518,720 Total 41,226 100.0% $ 1,007,140
Schedule of hypothetical number of shares	Hypothetical Legacy Dime Ownership Number of Legacy Dime Percentage (Shares in thousands) Outstanding Shares Ownership Bridge shareholders 30,853 48.5% Legacy Dime shareholders 32,767 51.5% Total 63,620 100.0%
Schedule of purchase price	(Dollars and shares in thousands) Number of hypothetical Legacy Dime shares issued to Bridge shareholders 30,853 Legacy Dime market price per share as of February 1, 2021 $ 15.90 Purchase price determination of hypothetical Legacy Dime shares issued to Bridge shareholders $ 490,560 Value of Bridge stock options hypothetically converted to options to acquire shares of Legacy Dime common stock 643 Cash in lieu of fractional shares 7 Purchase price consideration $ 491,210
Schedule of purchase price allocation	(In thousands) Purchase price consideration $ 491,210 Fair value of assets acquired: Cash and due from banks 715,988 Securities available-for-sale 651,997 Loans held for sale 10,000 Loans held for investment 4,531,640 Premises and fixed assets 37,881 Restricted stock 23,362 BOLI 94,085 Other intangible assets 10,984 Operating lease assets 45,603 Other assets 117,474 Total assets acquired 6,239,014 Fair value of liabilities assumed: Deposits 5,405,575 Other short-term borrowings 216,298 Subordinated debt 83,200 Operating lease liabilities 45,285 Other liabilities 97,147 Total liabilities assumed 5,847,505 Fair value of net identifiable assets 391,509 Goodwill resulting from Merger $ 99,701
Schedule of loans acquired	(In thousands) PCD loans: Unpaid principal balance $ 295,306 Non-credit discount at acquisition (9,049) Unpaid principal balance, net 286,257 Allowance for credit losses at acquisition (52,285) Fair value at acquisition 233,972 Non-PCD loans: Unpaid principal balance 4,289,236 Premium at acquisition 8,432 Fair value at acquisition 4,297,668 Total fair value at acquisition $ 4,531,640
Schedule of supplemental disclosures of cash flow information	(In thousands) Business combination: Fair value of tangible assets acquired $ 6,228,030 Goodwill, core deposit intangible and other intangible assets acquired 110,685 Liabilities assumed 5,847,505 Purchase price consideration 491,210
Schedule of pro forma amount	Three Months Ended March 31, (Dollars in thousands except per share amounts) 2021 2020 Net interest income $ 90,476 $ 79,511 Non-interest (loss) income (6,032) 9,453 Net (loss) income (149) 18,685 Net (loss) income available to common shareholders (1,560) 18,423 Earnings per share: Basic (0.04) 0.45 Diluted (0.04) 0.45

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Mar. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Activity in Accumulated Other Comprehensive Income (Loss), Net of Tax	Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Total Accumulated Securities Defined Other Available- Benefit Comprehensive (In thousands) for-Sale Plans Derivatives Income (Loss) Balance as of January 1, 2021 $ 12,694 $ (6,086) $ (12,532) $ (5,924) Other comprehensive income (loss) before reclassifications (10,570) 1,659 16,476 7,565 Amounts reclassified from accumulated other comprehensive loss (822) (288) — (1,110) Net other comprehensive (loss) income during the period (11,392) 1,371 16,476 6,455 Balance as of March 31, 2021 $ 1,302 $ (4,715) $ 3,944 $ 531 Balance as of January 1, 2020 $ 4,621 $ (6,024) $ (4,537) $ (5,940) Other comprehensive income (loss) before reclassifications 7,049 120 (14,060) (6,891) Amounts reclassified from accumulated other comprehensive loss (5) 65 139 199 Net other comprehensive income (loss) during the period 7,044 185 (13,921) (6,692) Balance as of March 31, 2020 $ 11,665 $ (5,839) $ (18,458) $ (12,632)
Other Comprehensive Income (Loss)	The before and after-tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below for the periods indicated. Three Months Ended March 31, (In thousands) 2021 2020 Change in unrealized holding gain or loss on securities available-for-sale: Change in net unrealized gain or loss during the period $ (15,534) $ 10,260 Reclassification adjustment for net (gains) losses included in net gain on securities and other assets (1,187) (8) Net change (16,721) 10,252 Tax (benefit) expense (5,329) 3,208 Net change in unrealized holding gain or loss on securities available-for-sale (11,392) 7,044 Change in pension and other postretirement obligations: Reclassification adjustment for expense included in other expense (422) 95 Reclassification adjustment for curtailment loss 1,543 — Change in the net actuarial gain or loss 885 176 Net change 2,006 271 Tax expense 635 86 Net change in pension and other postretirement obligations 1,371 185 Change in unrealized gain or loss on derivatives: Change in net unrealized gain or loss during the period 21,453 (20,581) Reclassification adjustment for expense included in interest expense 854 204 Net change 22,307 (20,377) Tax expense (benefit) 5,831 (6,456) Net change in unrealized gain or loss on derivatives 16,476 (13,921) Other comprehensive income (loss), net of tax $ 6,455 $ (6,692)

EARNINGS PER COMMON SHARE ("E_2

EARNINGS PER COMMON SHARE ("EPS") (Tables)	3 Months Ended
EARNINGS PER COMMON SHARE ("EPS") (Tables)	Mar. 31, 2021
EARNINGS PER COMMON SHARE ("EPS")
Reconciliation of Numerators and Denominators of Basic and Diluted EPS	The following is a reconciliation of the numerators and denominators of basic and diluted EPS for the periods presented: Three Months Ended March 31, (In thousands except share and per share amounts) 2021 2020 Net (loss) income available to common stockholders $ (22,855) $ 8,392 Less: Dividends paid and earnings allocated to participating securities 165 (67) (Loss) income attributable to common stock $ (22,690) $ 8,325 Weighted average common shares outstanding, including participating securities 34,543,114 22,551,358 Less: weighted average participating securities (282,176) (174,386) Weighted average common shares outstanding 34,260,938 22,376,972 Basic EPS $ (0.66) $ 0.37 (Loss) income attributable to common stock $ (22,690) $ 8,325 Weighted average common shares outstanding 34,260,938 22,376,972 Weighted average common equivalent shares outstanding 1,067 99,600 Weighted average common and equivalent shares outstanding 34,262,005 22,476,572 Diluted EPS $ (0.66) $ 0.37

INVESTMENT AND MORTGAGE-BACKE_2

INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)	3 Months Ended
INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)	Mar. 31, 2021
INVESTMENT AND MORTGAGE-BACKED SECURITIES
Major Categories of Securities Owned by Entity	March 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities available-for-sale: Agency notes $ 72,500 $ — $ (2,930) $ 69,570 Treasury securities 92,547 — (275) 92,272 Corporate securities 95,786 3,367 (420) 98,733 Pass-through MBS issued by GSEs 321,442 7,053 (4,788) 323,707 Agency Collateralized Mortgage Obligations ("CMOs") 522,841 6,305 (6,324) 522,822 State and municipal obligations 45,498 179 (288) 45,389 Total securities available-for-sale $ 1,150,614 $ 16,904 $ (15,025) $ 1,152,493 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities available-for-sale: Agency notes $ 47,500 $ 12 $ (91) $ 47,421 Corporate securities 62,021 2,440 — 64,461 Pass-through MBS issued by GSEs 135,842 7,672 (31) 143,483 Agency CMOs 274,898 8,674 (76) 283,496 Total securities available-for-sale $ 520,261 $ 18,798 $ (198) $ 538,861
Schedule of amortized cost and fair value of debt securities	March 31, 2021 Amortized Fair (In thousands) Cost Value Available-for-sale Within one year $ 2,123 $ 2,130 One to five years 116,049 115,878 Five to ten years 183,014 182,961 Beyond ten years 5,145 4,995 Pass-through MBS issued by GSEs and agency CMO 844,283 846,529 Total $ 1,150,614 $ 1,152,493
Summary of Sale of Available-for-sale Securities	Three Months Ended March 31, (In thousands) 2021 2020 Corporate Securities: Proceeds $ 46,754 $ — Gross gains 709 — Tax expense on gain 225 — Gross losses 41 — Tax benefit on loss 13 — Pass through MBS issued by GSEs: Proceeds 26,823 — Gross gains 187 — Tax expense on gain 59 — Gross losses 35 — Tax benefit on loss 11 — Agency CMOs: Proceeds 41,324 4,199 Gross gains 268 8 Tax expense on gain 85 3 Gross losses 44 — Tax benefit on loss 14 — State and municipal obligations: Proceeds 19,657 — Gross gains 143 — Tax expense on gain 45 —
Sales of Marketable Equity Securities	Three Months Ended March 31, (In thousands) 2021 2020 Proceeds: Marketable equity securities $ 6,101 $ 137
Gross Unrealized Losses and Fair Value of Investment Securities by Investment Category and Length of Time in a Continuous Unrealized Loss Position	March 31, 2021 Less than 12 12 Consecutive Consecutive Months Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities available-for-sale: Agency notes $ 69,570 $ 2,930 $ — $ — $ 69,570 $ 2,930 Treasury securities 92,272 275 — — 92,272 275 Corporate securities 18,278 420 — — 18,278 420 Pass-through MBS issued by GSEs 181,917 4,788 — — 181,917 4,788 Agency CMOs 239,145 6,324 — — 239,145 6,324 State and municipal obligations 19,004 288 — — 19,004 288 December 31, 2020 Less than 12 12 Consecutive Consecutive Months Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities available-for-sale: Agency notes $ 22,409 $ 91 $ — $ — $ 22,409 $ 91 Corporate securities — — — — — — Pass-through MBS issued by GSEs 5,007 31 — — 5,007 31 Agency CMOs 6,563 30 4,954 46 11,517 76

LOANS HELD FOR INVESTMENT, NET

LOANS HELD FOR INVESTMENT, NET (Tables)	3 Months Ended
LOANS HELD FOR INVESTMENT, NET (Tables)	Mar. 31, 2021
LOANS HELD FOR INVESTMENT, NET
Loan Categories	The following table presents the loan categories for the period ended as indicated: (In thousands) March 31, 2021 December 31, 2020 One-to-four family residential and cooperative/condominium apartment $ 696,415 $ 184,989 Multifamily residential and residential mixed-use 3,567,207 2,758,743 Commercial real estate ("CRE") 3,631,287 1,878,167 Acquisition, development, and construction ("ADC") 254,170 156,296 Total real estate loans 8,149,079 4,978,195 Commercial and industrial ("C&I") 2,332,610 641,533 Other loans 24,409 2,316 Total 10,506,098 5,622,044 Allowance for credit losses (98,200) (41,461) Loans held for investment, net $ 10,407,898 $ 5,580,583
Activity in Allowance for Loan Losses	The following tables present data regarding the allowance for credit losses activity for the periods indicated: At or for the Three Months Ended March 31, 2021 Real Estate Loans One-to-Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for credit losses: Beginning balance, prior to the adoption of CECL $ 644 $ 17,016 $ 9,059 $ 1,993 $ 28,712 $ 12,737 $ 12 $ 41,461 Impact of adopting CECL 1,048 (8,254) 4,849 381 (1,976) (1,935) (8) (3,919) Adjusted beginning balance as of January 1, 2021 1,692 8,762 13,908 2,374 26,736 10,802 4 37,542 PCD Day 1 2,220 3,292 23,124 117 28,753 23,374 157 52,284 Provision (credit) for credit losses 1,235 (1,397) 7,813 1,408 9,059 3,219 371 12,649 Charge-offs (14) (236) (8) — (258) (4,017) — (4,275) Ending balance $ 5,133 $ 10,421 $ 44,837 $ 3,899 $ 64,290 $ 33,378 $ 532 $ 98,200 At or for the Three Months Ended March 31, 2020 Real Estate Loans One-to Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for credit losses: Beginning balance $ 269 $ 10,142 $ 3,900 $ 1,244 $ 15,555 $ 12,870 $ 16 $ 28,441 Provision (credit) for credit losses 376 4,127 2,442 427 7,372 641 (1) 8,012 Charge-offs — — (6) — (6) — — (6) Recoveries — 14 — — 14 2 — 16 Ending balance $ 645 $ 14,283 $ 6,336 $ 1,671 $ 22,935 $ 13,513 $ 15 $ 36,463 The following table presents the amortized cost basis of loans on non-accrual status as of the period indicated: March 31, 2021 Non-accrual with Non-accrual with (In thousands) No Allowance Allowance Reserve One-to-four family residential and cooperative/condominium apartment $ - $ 5,384 $ 134 Multifamily residential and residential mixed-use 4,844 - - CRE 3,552 7,043 2,786 ADC - 104 59 C&I - 14,523 7,881 Other - 99 58 Total $ 8,396 $ 27,153 $ 10,918 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method, prior to the adoption of ASC 326, as of the dates indicated: December 31, 2020 Real Estate Loans One-to-Four Family Residential, Including Multifamily Commercial Condominium Residential Real Estate and and and Cooperative Residential Commercial Total Real Other (In thousands) Apartment Mixed-Use Mixed-Use ADC Estate C&I Loans Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 6,474 $ — $ 6,474 Collectively evaluated for impairment 644 17,016 9,059 1,993 28,712 6,263 12 34,987 Total ending allowance balance $ 644 $ 17,016 $ 9,059 $ 1,993 $ 28,712 $ 12,737 $ 12 $ 41,461 Loans: Individually evaluated for impairment $ — $ 1,863 $ 2,704 $ — $ 4,567 $ 12,502 $ — $ 17,069 Collectively evaluated for impairment 184,989 2,756,880 1,875,463 156,296 4,973,628 629,031 2,316 5,604,975 Total ending loans balance $ 184,989 $ 2,758,743 $ 1,878,167 $ 156,296 $ 4,978,195 $ 641,533 $ 2,316 $ 5,622,044
Impaired Real Estate Loans	The following tables summarize impaired loans with no related allowance recorded and with related allowance recorded as of the periods indicated (by collateral type within the real estate loan segment): The following table summarizes impaired loans recorded as of the date indicated: December 31, 2020 Unpaid Principal Recorded Related (In thousands) Balance Investment (1) Allowance With no related allowance recorded: Multifamily residential and residential mixed-use $ 1,863 $ 1,863 $ — CRE 2,704 2,704 — Total with no related allowance recorded 4,567 4,567 — With an allowance recorded: C&I 12,502 12,502 6,474 Total with an allowance recorded 12,502 12,502 6,474 Total $ 17,069 $ 17,069 $ 6,474 (1) The recorded investment excludes net deferred costs due to immateriality. The following table presents information for impaired loans for the period indicated: Three Months Ended March 31, 2020 Average Interest Recorded Income (In thousands) Investment (1) Recognized (2) With no related allowance recorded: One-to-four family residential and cooperative/condominium apartment $ 2,948 $ — Multifamily residential and residential mixed-use 743 6 CRE 58 1 Total with no related allowance recorded 3,749 7 With an allowance recorded: C&I 10,082 — Total $ 13,831 $ 7 (1) The recorded investment excludes net deferred costs due to immateriality. (2) Cash basis interest and interest income recognized on accrual basis approximate each other.
Past Due Financing Receivables	The following tables summarize the past due status of the Company’s investment in loans (excluding net deferred costs and accrued interest) as of the dates indicated: March 31, 2021 Loans 90 Days or 30 to 59 60 to 89 More Past Due Days Days and Still Non- Total Total (In thousands) Past Due Past Due Accruing Interest accrual (1) Past Due Current Loans Real estate: One-to-four family residential, including condominium and cooperative apartment $ 7,027 $ 686 $ 45 $ 5,384 $ 13,142 $ 683,273 $ 696,415 Multifamily residential and residential mixed-use 3,984 8,340 2,871 4,844 20,039 3,547,168 3,567,207 CRE 4,702 3,334 2,259 10,595 20,890 3,610,397 3,631,287 ADC — — — 104 104 254,066 254,170 Total real estate 15,713 12,360 5,175 20,927 54,175 8,094,904 8,149,079 C&I 13,254 410 3,652 14,523 31,839 2,300,771 2,332,610 Other 9 89 — 99 197 24,212 24,409 Total $ 28,976 $ 12,859 $ 8,827 $ 35,549 $ 86,211 $ 10,419,887 $ 10,506,098 (1) Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of March 31, 2021. December 31, 2020 Loans 90 Days or 30 to 59 60 to 89 More Past Due Days Days and Still Non- Total Total (In thousands) Past Due Past Due Accruing Interest accrual (1) Past Due Current Loans Real estate: One-to-four family residential, including condominium and cooperative apartment $ — $ — $ 44 $ 858 $ 902 $ 184,087 $ 184,989 Multifamily residential and residential mixed-use — — 437 1,863 2,300 2,756,443 2,758,743 CRE 15,351 — — 2,704 18,055 1,860,112 1,878,167 ADC — — — — — 156,296 156,296 Total real estate 15,351 — 481 5,425 21,257 4,956,938 4,978,195 C&I — 917 2,848 12,502 16,267 625,266 641,533 Other 8 1 — 1 10 2,306 2,316 Total $ 15,359 $ 918 $ 3,329 $ 17,928 $ 37,534 $ 5,584,510 $ 5,622,044 (1) Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of December 31, 2020.
Loans Approved for Deferral	March 31, 2021 Number of Loans Balance (1) % of Portfolio (Dollars in thousands) One-to-four family residential and cooperative/condominium apartment 15 $ 15,489 2.2 % Multifamily residential and residential mixed-use — — — CRE 8 24,174 0.7 ADC 1 13,500 5.3 C&I 10 13,491 0.6 Total 34 $ 66,654 0.6 (1) Amount excludes net deferred costs due to immateriality.
Credit Risk Profile of the Real Estate Loans	March 31, 2021 (In thousands) 2021 2020 2019 2018 2017 2016 and Prior Revolving Revolving-Term Total One-to-four family residential, and condominium/cooperative apartment: Pass $ 30,658 $ 102,503 $ 95,992 $ 105,587 $ 101,101 $ 177,780 $ 54,179 $ 13,426 $ 681,226 Special mention — — 381 152 371 5,106 846 1,106 7,962 Substandard — — 745 46 — 5,157 — 1,279 7,227 Doubtful — — — — — — — — — Total one-to-four family residential, and condominium/cooperative apartment 30,658 102,503 97,118 105,785 101,472 188,043 55,025 15,811 696,415 Multifamily residential and residential mixed-use: Pass 95,876 365,073 518,902 215,459 464,424 1,672,655 9,698 11 3,342,098 Special mention — — 1,005 — 17,169 17,057 — — 35,231 Substandard — — 34,421 27,280 32,564 95,117 496 — 189,878 Doubtful — — — — — — — — — Total multifamily residential and residential mixed-use 95,876 365,073 554,328 242,739 514,157 1,784,829 10,194 11 3,567,207 CRE: Pass 184,029 867,480 604,893 396,946 404,571 978,940 50,050 26,440 3,513,349 Special mention — 4,256 2,673 9,031 13,536 11,578 — — 41,074 Substandard — 589 3,400 13,235 22,060 37,567 — 10 76,861 Doubtful — — — — — — — 3 3 Total CRE 184,029 872,325 610,966 419,212 440,167 1,028,085 50,050 26,453 3,631,287 ADC: Pass 8,105 39,106 23,599 10,520 5,615 1,355 121,537 29,651 239,488 Special mention — — — 1,077 — — — 13,500 14,577 Substandard — — — — — 105 — — 105 Doubtful — — — — — — — — — Total ADC 8,105 39,106 23,599 11,597 5,615 1,460 121,537 43,151 254,170 C&I: Pass 560,948 991,821 71,898 44,089 47,108 38,787 461,029 42,082 2,257,762 Special mention — 2,345 1,270 5,553 765 559 22,566 3,078 36,136 Substandard — 49 839 1,417 3,228 1,314 4,118 15,190 26,155 Doubtful — — 210 — 11,929 190 — 228 12,557 Total C&I 560,948 994,215 74,217 51,059 63,030 40,850 487,713 60,578 2,332,610 Total Loans $ 879,616 $ 2,373,222 $ 1,360,228 $ 830,392 $ 1,124,441 $ 3,043,267 $ 724,519 $ 146,004 $ 10,481,689 December 31, 2020 Special (In thousands) Pass Mention Substandard Doubtful Total Real Estate: One-to-four family residential and condominium/cooperative apartment $ 183,293 $ — $ 1,696 $ — $ 184,989 Multifamily residential and residential mixed-use 2,523,258 56,400 179,085 — 2,758,743 CRE 1,831,712 13,861 32,594 — 1,878,167 ADC 142,796 13,500 — — 156,296 Total real estate 4,681,059 83,761 213,375 — 4,978,195 C&I 613,691 2,131 13,315 12,396 641,533 Total Real Estate and C&I $ 5,294,750 $ 85,892 $ 226,690 $ 12,396 $ 5,619,728 (In thousands) March 31, 2021 December 31, 2020 Performing $ 24,310 $ 2,315 Non-accrual 99 1 Total $ 24,409 $ 2,316

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2021
LEASES
Maturities of Operating Lease Liabilities	Maturities of the Company’s operating lease liabilities at March 31, 2021 are as follows: Rent to be (In thousands) Capitalized 2021 $ 10,570 2022 11,367 2023 9,665 2024 9,530 2025 9,141 Thereafter 26,289 Total undiscounted lease payments 76,562 Less amounts representing interest 5,313 Lease liability $ 71,249
Other Information Related to Operating Leases	Three Months Ended March 31, (In thousands) 2021 2020 Operating lease cost $ 3,158 $ 1,603 Cash paid for amounts included in the measurement of operating lease liabilities 3,050 1,811

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	3 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES (Tables)	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)	The table below presents the effect of the cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss) as of March 31, 2021 and 2020. Three Months Ended March 31, (In thousands) 2021 2020 Gain recognized in other comprehensive income $ 21,453 $ (20,581) Gain reclassified from other comprehensive income into interest expense 854 204
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of the periods indicated. March 31, 2021 December 31, 2020 Notional Fair Value Fair Value Notional Fair Value Fair Value (Dollars in thousands) Count Amount Assets Liabilities Count Amount Assets Liabilities Included in derivative assets/(liabilities): Interest rate swaps related to FHLBNY advances 4 $ 150,000 $ 3,944 $ — — $ — $ — $ — Interest rate swaps related to FHLBNY advances — $ — $ — $ — 32 $ 655,000 $ — $ (18,442)
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition	March 31, 2021 Notional Fair Value Fair Value (In thousands) Count Amount Assets Liabilities Included in derivative assets/(liabilities): Loan level interest rate swaps with borrower 109 $ 689,408 $ 28,104 $ — Loan level interest rate swaps with borrower 72 543,095 — (16,468) Loan level interest rate floors with borrower 46 406,923 — (5,294) Loan level interest rate swaps with third-party counterparties 109 689,408 — (28,104) Loan level interest rate swaps with third-party counterparties 72 543,095 16,468 — Loan level interest rate floors with third-party counterparties 46 406,923 5,294 — December 31, 2020 Notional Fair Value Fair Value (In thousands) Count Amount Assets Liabilities Included in derivative assets/(liabilities): Loan level interest rate swaps with borrower 65 $ 570,277 $ 24,764 $ — Loan level interest rate floors with borrower 41 364,643 — (5,832) Loan level interest rate swaps with third-party counterparties 65 570,277 — (24,764) Loan level interest rate floors with third-party counterparties 41 364,643 5,832 —
Loan Level Derivative Income	Loan level derivative income is recognized on the mark-to-market of the interest rate swap as a fair value adjustment at the time the transaction is closed. Total loan level derivative income is included in non-interest income as follows: Three Months Ended March 31, (In thousands) 2021 2020 Loan level derivative income $ 1,792 $ 1,163

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Mar. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value Measurements at March 31, 2021 Using Level 1 Level 2 Level 3 (In thousands) Total Inputs Inputs Inputs Financial Assets Securities available-for-sale: Agency Notes $ 69,570 $ — $ 69,570 $ — Treasury Securities 92,272 — 92,272 — Corporate Securities 98,733 — 98,733 — Pass-through MBS issued by GSEs 323,707 — 323,707 — Agency CMOs 522,822 — 522,822 — State and municipal obligations 45,389 — 45,389 — Derivative – cash flow hedges 3,944 — 3,944 — Derivative – freestanding derivatives, net 41,816 — 41,816 — Financial Liabilities Derivative – cash flow hedges — — — — Derivative – freestanding derivatives, net 41,816 — 41,816 — Fair Value Measurements at December 31, 2020 Using Level 1 Level 2 Level 3 (In thousands) Total Inputs Inputs Inputs Financial Assets Marketable equity securities (Registered Mutual Funds) Domestic equity mutual funds $ 1,769 $ 1,769 $ — $ — International equity mutual funds 468 468 — — Fixed income mutual funds 3,733 3,733 — — Securities available-for-sale: Agency Notes 47,421 — 47,421 — Corporate Securities 64,461 — 64,461 — Pass-through MBS issued by GSEs 143,483 — 143,483 — Agency CMOs 283,496 — 283,496 — Derivative – cash flow hedges — — — — Derivative – freestanding derivatives 30,596 — 30,596 — Financial Liabilities Derivative – cash flow hedges 18,442 — 18,442 — Derivative – freestanding derivatives 30,596 — 30,596 —
Fair Value Measurements, Nonrecurring	Fair Value Measurements at March 31, 2021 Using Carrying Level 1 Level 2 Level 3 (In thousands) Amount Inputs Inputs Inputs Total Financial Assets Cash and due from banks $ 676,723 $ 676,723 $ — $ — $ 676,723 Loans, net 10,407,898 — — 10,489,350 10,489,350 Accrued interest receivable 51,100 — 3,602 47,498 51,100 Financial Liabilities Savings, money market and checking accounts 9,270,496 9,270,496 — — 9,270,496 Certificates of Deposits ("CDs") 1,540,316 — 1,545,436 — 1,545,436 FHLBNY Advances 533,865 — 534,049 — 534,049 Subordinated debt, net 197,234 — 198,297 — 198,297 Other borrowings 126,763 126,763 — — 126,763 Accrued interest payable 2,024 — 2,024 — 2,024 Fair Value Measurements at December 31, 2020 Using Carrying Level 1 Level 2 Level 3 (In thousands) Amount Inputs Inputs Inputs Total Financial Assets Cash and due from banks $ 243,603 $ 243,603 $ — $ — $ 243,603 Loans, net 5,580,583 — — 5,598,787 5,598,787 Accrued interest receivable 34,815 2 1,584 33,229 34,815 Financial Liabilities Savings, money market and checking accounts 3,212,495 3,212,495 — — 3,212,495 CDs 1,322,638 — 1,328,554 — 1,328,554 FHLBNY Advances 1,204,010 — 1,207,890 — 1,207,890 Subordinated debt, net 114,052 — 114,340 — 114,340 Other borrowings 120,000 120,000 — — 120,000 Accrued interest payable 1,734 — 1,734 — 1,734

OTHER INTANGIBLE ASSETS (Tables

OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
OTHER INTANGIBLE ASSETS (Tables)	Mar. 31, 2021
OTHER INTANGIBLE ASSETS
Schedule of acquired intangible assets	Core Deposit Non-complete (In thousands) Intangibles Agreement Total Gross carrying value $ 10,204 $ 780 $ 10,984 Accumulated amortization (357) - (357) Net carrying amount $ 9,847 $ 780 $ 10,627
Schedule of estimated amortization expense	(In thousands) Total 2021 $ 2,265 2022 1,878 2023 1,425 2024 1,163 2025 958 Thereafter 2,938 Total $ 10,627

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES (Tables)	3 Months Ended
FEDERAL HOME LOAN BANK ADVANCES (Tables)	Mar. 31, 2021
FEDERAL HOME LOAN BANK ADVANCES
Schedule of contractual maturities and weighted average interest rates of FHLB advances	March 31, 2021 (Dollars in thousands) Weighted Contractual Maturity Amount Average Rate Overnight $ 175,000 0.32 % 2021 308,865 0.35 2022 50,000 0.37 Total FHLB advances $ 533,865 0.34 % December 31, 2020 (Dollars in thousands) Weighted Contractual Maturity Amount Average Overnight $ — — % 2021 1,144,010 0.52 2022 60,000 0.60 Total FHLB advances $ 1,204,010 0.53 %

RETIREMENT AND POSTRETIREMENT_2

RETIREMENT AND POSTRETIREMENT PLANS (Tables)	3 Months Ended
RETIREMENT AND POSTRETIREMENT PLANS (Tables)	Mar. 31, 2021
RETIREMENT AND POSTRETIREMENT PLANS
Net Periodic Costs	BNB Bank Employee Retirement Pension Plan Plan Three Months Ended March 31, (In thousands) 2021 2020 Service cost $ 148 $ — Interest cost 249 183 Expected return on assets (984) (428) Amortization of unrealized loss 206 229 Net periodic benefit credit $ (381) $ (16)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
STOCK-BASED COMPENSATION (Tables)	Mar. 31, 2021
STOCK-BASED COMPENSATION
Activity Related to Stock Options	Weighted- Average Weighted- Remaining Aggregate Number of Average Exercise Contractual Intrinsic Options Price Years Value Options outstanding at January 1, 2021 28,842 $ 15.05 Options outstanding at January 1, 2021 as adjusted for conversion 18,685 23.23 Options acquired (1) 180,020 35.39 Options exercised 15,928 23.37 Options outstanding at March 31, 2021 182,777 $ 35.19 8.0 $ — Options vested and exercisable at March 31, 2021 182,777 $ 35.19 8.0 $ — (1) Options acquired in the Merger expire one year from the date of the Effective Date of the Merger.
Information Related to Stock Option Plan	Three Months Ended March 31, (In thousands) 2021 2020 Cash received for option exercise cost $ 372 $ — Income tax benefit recognized on stock option exercises — — Intrinsic value of options exercised 66 —
Activity Related to Restricted Stock Awards	Weighted- Average Number of Grant-Date Shares Fair Value Unvested allocated shares outstanding at January 1, 2021 — $ — Shares acquired 89,043 31.00 Shares granted 431,114 25.54 Shares vested (89,043) 31.00 Shares forfeited (1,050) 25.98 Unvested allocated shares at March 31, 2021 430,064 $ 25.54
Information Related to Restricted Stock Award Plan	Three Months Ended March 31, (Dollars in thousands) 2021 2020 Compensation expense recognized $ 836 $ 461 Income tax benefit recognized on vesting of RSA — 4 Weighted average remaining years for which compensation expense is to be recognized 3.0 2.4

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Millions	Feb. 01, 2021$ / sharesshares	Mar. 31, 2021USD ($)item$ / shares	Dec. 31, 2020USD ($)$ / shares
BASIS OF PRESENTATION
Subordinated notes payable, net \| $		$ 197.2	$ 114.1
Number of retail banking offices \| item		67
Merger agreement:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock converted into right to receive shares (in shares) \| shares	0.6480
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01

MERGER (Details)

MERGER (Details) $ / shares in Units, $ in Millions	Feb. 01, 2021USD ($)$ / sharesshares	Jan. 31, 2021shares	Mar. 31, 2021$ / shares	Dec. 31, 2020$ / shares	Sep. 30, 2015USD ($)
MERGER
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01	$ 0.01
Share conversion ratio	0.6480
Preferred stock, par value (in dollars per share)			$ 0.01	$ 0.01
Aggregate principal amount \| $					$ 80
Number of Bridge Outstanding Shares \| shares		41,226,000
Percentage Ownership		100.00%
Preferred Stock
MERGER
Share conversion ratio	1
Bridge shareholders
MERGER
Number of Bridge Outstanding Shares \| shares	21.2	19,993,000
Percentage Ownership	51.50%	48.50%
Legacy Dime shareholders
MERGER
Number of Bridge Outstanding Shares \| shares	30,853,000	21,233,000
Percentage Ownership		51.50%
Legacy Dime
MERGER
Common stock, par value (in dollars per share)	$ 0.01
Aggregate principal amount \| $	$ 115
Fixed interest rate of debentures	4.50%
Legacy Dime \| Preferred Stock
MERGER
Preferred stock, par value (in dollars per share)	$ 0.01

MERGER - Dime Community Bancsha

MERGER - Dime Community Bancshares, Inc. Ownership and Market Value (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 01, 2021	Jan. 31, 2021
MERGER
Number of Bridge Outstanding Shares		41,226,000
Percentage Ownership		100.00%
Market Value at $24.43 Bridge Share Price		$ 1,007,140
Bridge shareholders
MERGER
Number of Bridge Outstanding Shares	21.2	19,993,000
Percentage Ownership	51.50%	48.50%
Market Value at $24.43 Bridge Share Price		$ 488,420
Bridge Share Price		$ 24.43
Legacy Dime shareholders
MERGER
Number of Bridge Outstanding Shares	30,853,000	21,233,000
Percentage Ownership		51.50%
Market Value at $24.43 Bridge Share Price	$ 7	$ 518,720

MERGER - Hypothetical Legacy Di

MERGER - Hypothetical Legacy Dime Ownership (Details) shares in Thousands	Jan. 31, 2021shares
MERGER
Number of Bridge Outstanding Shares	63,620
Percentage Ownership	100.00%
Bridge shareholders
MERGER
Number of Bridge Outstanding Shares	30,853
Percentage Ownership	48.50%
Legacy Dime shareholders
MERGER
Number of Bridge Outstanding Shares	32,767
Percentage Ownership	51.50%

MERGER - Purchase Price (Detail

MERGER - Purchase Price (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 01, 2021	Jan. 31, 2021	Mar. 31, 2021
MERGER
Number of hypothetical Legacy Dime shares issued to Bridge shareholders		41,226,000
Number of Bridge Outstanding Shares		41,226,000
Cash in lieu of fractional shares		$ 1,007,140
Purchase price consideration			$ 491,210
Bridge shareholders
MERGER
Number of hypothetical Legacy Dime shares issued to Bridge shareholders	21.2	19,993,000
Number of Bridge Outstanding Shares	21.2	19,993,000
Cash in lieu of fractional shares		$ 488,420
Legacy Dime shareholders
MERGER
Number of hypothetical Legacy Dime shares issued to Bridge shareholders	30,853,000	21,233,000
Legacy Dime market price per share as of February 1, 2021	$ 15.90
Purchase price determination of hypothetical Legacy Dime shares issued to Bridge shareholders	$ 490,560
Number of Bridge Outstanding Shares	30,853,000	21,233,000
Cash in lieu of fractional shares	$ 7	$ 518,720
Purchase price consideration	$ 491,210
Legacy Dime shareholders \| Common Stock
MERGER
Number of hypothetical Legacy Dime shares issued to Bridge shareholders	643,000
Number of Bridge Outstanding Shares	643,000

MERGER - Purchase Price Allocat

MERGER - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Feb. 01, 2021	Mar. 31, 2021	Dec. 31, 2020
Fair value of assets acquired:
Operating lease assets	$ 45,600
Fair value of liabilities assumed:
Operating lease liabilities	45,300
Total liabilities assumed		$ 5,847,505
Goodwill resulting from Merger		$ 155,339	$ 55,638
Bridge assets acquired
Purchase price consideration:
Purchase price consideration	491,210
Fair value of assets acquired:
Cash and due from banks	715,988
Securities available-for-sale	651,997
Loans held for sale	10,000
Loans held for investment	4,531,640
Premises and fixed assets	37,881
Restricted stock	23,362
BOLI	94,085
Other intangible assets	10,984
Operating lease assets	45,603
Other assets	117,474
Total assets acquired	6,239,014
Fair value of liabilities assumed:
Deposits	5,405,575
Other short-term borrowings	216,298
Subordinated debt	83,200
Operating lease liabilities	45,285
Other liabilities	97,147
Total liabilities assumed	5,847,505
Fair value of net identifiable assets	391,509
Goodwill resulting from Merger	$ 99,701

MERGER - Loans Acquired (Detail

MERGER - Loans Acquired (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Feb. 01, 2021
MERGER
Total fair value at acquisition	$ 4,530,000	$ 4,531,640
PCD loans
MERGER
Unpaid principal balance		295,306
Non-credit discount at acquisition		(9,049)
Unpaid principal balance, net		286,257
Allowance for credit losses at acquisition		(52,285)
Total fair value at acquisition		233,972
Non-PCD loans
MERGER
Unpaid principal balance		4,289,236
Premium at acquisition		8,432
Unpaid principal balance, net		$ 4,297,668

MERGER - Supplemental of cash f

MERGER - Supplemental of cash flow information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
MERGER
Fair value of tangible assets acquired	$ 6,228,030
Goodwill, core deposit intangible and other intangible assets acquired	110,685
Liabilities assumed	5,847,505
Purchase price consideration	$ 491,210

MERGER - Other intangible asset

MERGER - Other intangible assets (Details) $ in Thousands	3 Months Ended
MERGER - Other intangible assets (Details) $ in Thousands	Mar. 31, 2021USD ($)
Core deposits
MERGER
Other intangible assets	$ 10,200
Weighted average life	10 years
Noncompete Agreements
MERGER
Other intangible assets	$ 780
Weighted average life	13 months

MERGER - Pro Forma (Details)

MERGER - Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
MERGER
Net interest income	$ 90,476	$ 79,511
Non-interest (loss) income	(6,032)	9,453
Net (loss) income	(149)	18,685
Net (loss) income available to common shareholders	$ (1,560)	$ 18,423
Earnings per share:
Basic	$ (0.04)	$ 0.45
Diluted	$ (0.04)	$ 0.45

SUMMARY OF ACCOUNTING POLICIE_2

SUMMARY OF ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 98,200		$ 41,461	$ 36,463	$ 28,441
Retained earnings	$ 574,297		600,641
Acquisition, Development, And Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value ratio	50.00%
Small Business Administration ("SBA") Paycheck Protection Program ("PPP")
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value ratio	100.00%
Cumulative Effect, Period of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses			$ (3,919)
Maximum [Member] \| One-to-four family residential and cooperative/condominium apartment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value ratio	75.00%
Maximum [Member] \| Multifamily residential and residential mixed-use
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value ratio	75.00%
Maximum [Member] \| Commercial real estate ("CRE")
Accounts, Notes, Loans and Financing Receivable [Line Items]
Value ratio	75.00%
Minimum [Member] \| One-to-four family residential and cooperative/condominium apartment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt service ratio	1.25%
Minimum [Member] \| Multifamily residential and residential mixed-use
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt service ratio	1.20%
Minimum [Member] \| Commercial real estate ("CRE")
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt service ratio	1.25%
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (3,900)
Reserve for unfunded commitments	$ 1,400
Retained earnings		$ 1,700

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ 701,096	$ 596,758
Other comprehensive income (loss) before reclassifications	7,565	(6,891)
Amounts reclassified from accumulated other comprehensive loss	(1,110)	199
Other comprehensive income (loss), net of tax	6,455	(6,692)
Balance	1,172,824	645,648
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(5,924)	(5,940)
Other comprehensive income (loss), net of tax	6,455	(6,692)
Balance	531	(12,632)
Securities Available-for-Sale
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	12,694	4,621
Other comprehensive income (loss) before reclassifications	(10,570)	7,049
Amounts reclassified from accumulated other comprehensive loss	(822)	(5)
Other comprehensive income (loss), net of tax	(11,392)	7,044
Balance	1,302	11,665
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(6,086)	(6,024)
Other comprehensive income (loss) before reclassifications	1,659	120
Amounts reclassified from accumulated other comprehensive loss	(288)	65
Other comprehensive income (loss), net of tax	1,371	185
Balance	(4,715)	(5,839)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(12,532)	(4,537)
Other comprehensive income (loss) before reclassifications	16,476	(14,060)
Amounts reclassified from accumulated other comprehensive loss		139
Other comprehensive income (loss), net of tax	16,476	(13,921)
Balance	$ 3,944	$ (18,458)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Before and After Tax Amounts by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Change in unrealized holding gain or loss on securities available-for-sale:
Change in net unrealized gain or loss during the period	$ (15,534)	$ 10,260
Reclassification adjustment for net (gains) losses included in net gain on securities and other assets	(1,187)	(8)
Net change	(16,721)	10,252
Tax expense	(5,329)	3,208
Net change in unrealized holding gain or loss on securities available-for-sale	(11,392)	7,044
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense	(422)	95
Reclassification adjustment for curtailment loss	1,543
Change in the net actuarial gain or loss	885	176
Net change	2,006	271
Tax expense	635	86
Net change in pension and other postretirement obligations	1,371	185
Change in unrealized gain or loss on derivatives:
Change in net unrealized gain or loss during the period	21,453	(20,581)
Reclassification adjustment for expense included in interest expense	854	204
Net change	22,307	(20,377)
Tax benefit	5,831	(6,456)
Net change in unrealized gain or loss on derivatives	16,476	(13,921)
Other comprehensive income (loss), net of tax	$ 6,455	$ (6,692)

EARNINGS PER COMMON SHARE ("E_3

EARNINGS PER COMMON SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Net (loss) income available to common stockholders	$ (22,855)	$ 8,392
Less: Dividends paid and earnings allocated to participating securities	165	(67)
(Loss) income attributable to common stock	$ (22,690)	$ 8,325
Weighted average common shares outstanding, including participating securities (in shares)	34,543,114	22,551,358
Less: weighted average participating securities (in shares)	(282,176)	(174,386)
Weighted average common shares outstanding (in shares)	34,260,938	22,376,972
Basic EPS (in dollars per share)	$ (0.66)	$ 0.37
Weighted average common shares outstanding (in shares)	34,260,938	22,376,972
Weighted average common equivalent shares outstanding (in shares)	1,067	99,600
Weighted average common and equivalent shares outstanding (in shares)	34,262,005	22,476,572
Diluted EPS (in dollars per share)	$ (0.66)	$ 0.37
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Weighted average shares excluded from earnings per share calculation (in shares)	180,020	0

PREFERRED STOCK (Details)

PREFERRED STOCK (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 10, 2020	Feb. 05, 2020	Mar. 31, 2021	Dec. 31, 2020
Public Offering [Abstract]
Preferred stock, par value (in dollars per share)			$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)			25	$ 25
Preferred Stock, Series A [Member]
Public Offering [Abstract]
Number of share issued in public offering (in shares)	2,300,000	2,999,200
Preferred stock, liquidation preference	$ 57.5	$ 75
Preferred stock, interest rate	5.50%	5.50%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Proceeds from issuance of preferred stock	$ 44.3	$ 72.2
Preferred stock, redemption price (in dollars per share)			$ 25

INVESTMENT AND MORTGAGE-BACKE_3

INVESTMENT AND MORTGAGE-BACKED SECURITIES - Major Categories of Securities Owned (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Feb. 01, 2021
Securities, available-for-sale [Abstract]
Amortized Cost	$ 1,150,614		$ 520,261
Gross Unrealized Gains	16,904		18,798
Gross Unrealized Losses	(15,025)		(198)
Fair Value	1,152,493		538,861
Available for sale securities	846,529		426,979
Acquired securities available-for-sale on the Merger Date				$ 652,000
Securities pledged as collateral	$ 637,100		$ 99,400
Threshold for disclosure percentage	10.00%		10.00%
Sales of Available-for-sale Securities:
Proceeds	$ 134,558	$ 4,199
Proceeds:
Marketable equity securities	6,101	137
Net gain (loss) on equity securities	131	(472)
Marketable Equity Securities [Member]
Proceeds:
Marketable equity securities	6,101	137
Net gain (loss) on equity securities	131	472
Agency Notes
Securities, available-for-sale [Abstract]
Amortized Cost	72,500		$ 47,500
Gross Unrealized Gains			12
Gross Unrealized Losses	(2,930)		(91)
Fair Value	69,570		47,421
Treasury Securities
Securities, available-for-sale [Abstract]
Amortized Cost	92,547
Gross Unrealized Losses	(275)
Fair Value	92,272
Corporate Securities
Securities, available-for-sale [Abstract]
Amortized Cost	95,786		62,021
Gross Unrealized Gains	3,367		2,440
Gross Unrealized Losses	(420)
Fair Value	98,733		64,461
Sales of Available-for-sale Securities:
Proceeds	46,754	0
Gross gains	709	0
Tax expense on gain	225	0
Gross losses	41	0
Tax benefit on loss	13	0
Pass-through MBS issued by GSEs
Securities, available-for-sale [Abstract]
Amortized Cost	321,442		135,842
Gross Unrealized Gains	7,053		7,672
Gross Unrealized Losses	(4,788)		(31)
Fair Value	323,707		143,483
Sales of Available-for-sale Securities:
Proceeds	26,823
Gross gains	187
Tax expense on gain	59
Gross losses	35	0
Tax benefit on loss	11	0
Agency Collateralized Mortgage Obligations ("CMOs")
Securities, available-for-sale [Abstract]
Amortized Cost	522,841		274,898
Gross Unrealized Gains	6,305		8,674
Gross Unrealized Losses	(6,324)		(76)
Fair Value	522,822		$ 283,496
Sales of Available-for-sale Securities:
Proceeds	41,324	4,199
Gross gains	268	8
Tax expense on gain	85	3
Gross losses	44	0
Tax benefit on loss	14	0
State and municipal obligations
Securities, available-for-sale [Abstract]
Amortized Cost	45,498
Gross Unrealized Gains	179
Gross Unrealized Losses	(288)
Fair Value	45,389
Sales of Available-for-sale Securities:
Proceeds	19,657	0
Gross gains	143	0
Tax expense on gain	$ 45	$ 0

INVESTMENT AND MORTGAGE-BACKE_4

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available for sale, Amortized Cost
Within one year	$ 2,123
One to five years	116,049
Five to ten years	183,014
Beyond ten years	5,145
Pass-through MBS issued by GSEs and Agency CMO	844,283
Amortized Cost	1,150,614	$ 520,261
Available for sale, Fair Value
Within one year	2,130
One to five years	115,878
Five to ten years	182,961
Beyond ten years	4,995
Pass-through MBS issued by GSEs and Agency CMO	846,529
Total	$ 1,152,493	$ 538,861

INVESTMENT AND MORTGAGE-BACKE_5

INVESTMENT AND MORTGAGE-BACKED SECURITIES, Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Pass-through MBS issued by GSEs
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	$ 181,917	$ 5,007
12 Consecutive Months or Longer	0	0
Total	181,917	5,007
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	4,788	31
12 Consecutive Months or Longer	0	0
Total	4,788	31
Treasury Securities
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	92,272
12 Consecutive Months or Longer	0
Total	92,272
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	275
12 Consecutive Months or Longer	0
Total	275
State and municipal obligations
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	19,004
12 Consecutive Months or Longer	0
Total	19,004
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	288
12 Consecutive Months or Longer	0
Total	288
Agency Notes
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	69,570	22,409
12 Consecutive Months or Longer	0	0
Total	69,570	22,409
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	2,930	91
12 Consecutive Months or Longer	0	0
Total	2,930	91
Corporate Notes [Member]
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	18,278
12 Consecutive Months or Longer	0	0
Total	18,278
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	420
12 Consecutive Months or Longer	0	0
Total	420
Agency Collateralized Mortgage Obligations ("CMOs")
Securities available-for-sale, Fair Value [Abstract]
Less than 12 Consecutive Months	239,145	6,563
12 Consecutive Months or Longer	0	4,954
Total	239,145	11,517
Securities available-for-sale, Unrealized Losses [Abstract]
Less than 12 Consecutive Months	6,324	30
12 Consecutive Months or Longer	0	46
Total	$ 6,324	$ 76

LOANS HELD FOR INVESTMENT, NE_2

LOANS HELD FOR INVESTMENT, NET - Loan Categories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Feb. 01, 2021	Dec. 31, 2020
LOANS HELD FOR INVESTMENT, NET
Total Loans	$ 10,506,098		$ 5,622,044
Allowance for loan losses	(98,200)		(41,461)
Total loans held for investment, net	10,407,898		5,580,583
Loans acquired on merger	4,530,000	$ 4,531,640
Small Business Administration ("SBA") Paycheck Protection Program ("PPP")
LOANS HELD FOR INVESTMENT, NET
Total Loans	1,430,000
Allowance for loan losses	$ 0
Loan and leases carry guarantee rate	100.00%
Paycheck Protection Program \| Small Business Administration ("SBA") Paycheck Protection Program ("PPP")
LOANS HELD FOR INVESTMENT, NET
Total Loans			321,900
Real estate
LOANS HELD FOR INVESTMENT, NET
Total Loans	$ 8,149,079		4,978,195
Real estate \| One-to-four family residential and cooperative/condominium apartment
LOANS HELD FOR INVESTMENT, NET
Total Loans	696,415		184,989
Real estate \| Multifamily residential and residential mixed-use
LOANS HELD FOR INVESTMENT, NET
Total Loans	3,567,207		2,758,743
Real estate \| Commercial real estate ("CRE")
LOANS HELD FOR INVESTMENT, NET
Total Loans	3,631,287		1,878,167
Real estate \| Acquisition, development, and construction ("ADC")
LOANS HELD FOR INVESTMENT, NET
Total Loans	254,170		156,296
Commercial and industrial ("C&I")
LOANS HELD FOR INVESTMENT, NET
Total Loans	2,332,610		641,533
Commercial and industrial ("C&I"), including SBA and PPP loans
LOANS HELD FOR INVESTMENT, NET
Total Loans	2,332,610		641,533
Commercial and industrial ("C&I"), including SBA and PPP loans \| Small Business Administration ("SBA") Paycheck Protection Program ("PPP")
LOANS HELD FOR INVESTMENT, NET
Total Loans	2,332,610
Other loans
LOANS HELD FOR INVESTMENT, NET
Total Loans	$ 24,409		$ 2,316

LOANS HELD FOR INVESTMENT, NE_3

LOANS HELD FOR INVESTMENT, NET - Allowance by Class of Loan (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Mar. 31, 2021	Dec. 31, 2020
Allowance for loan losses [Roll Forward]
Beginning balance	$ 41,461	$ 28,441	$ 28,441
PCD Day 1	52,284
Provision (credit) for credit losses	12,649	8,012
Charge-offs	(4,275)	(6)
Recoveries		16
Ending balance	98,200	36,463	41,461
Non-accrual with No Allowance for Credit Loss				$ 8,396
Non-accrual with Allowance				27,153
Reserve	10,918
Interest income on non-accrual loans	0
CECL	3,900
Non-PCD	20,300
Impact of improvement in forecasted macroeconomic conditions			(7,600)
Allowance for loan losses:
Individually evaluated for impairment					$ 6,474
Collectively evaluated for impairment					34,987
Total ending allowance balance	98,200	36,463	28,441	98,200	41,461
Loans:
Individually evaluated for impairment					17,069
Collectively evaluated for impairment					5,604,975
Total ending loans balance					5,622,044
Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	(3,919)
Ending balance			(3,919)
Allowance for loan losses:
Total ending allowance balance	(3,919)		(3,919)		(3,919)
Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	37,542
Ending balance			37,542
Allowance for loan losses:
Total ending allowance balance	37,542		37,542		37,542
One-to-four family residential and cooperative/condominium apartment
Allowance for loan losses [Roll Forward]
Non-accrual with Allowance				5,384
Reserve	134
Multifamily residential and residential mixed-use
Allowance for loan losses [Roll Forward]
Non-accrual with No Allowance for Credit Loss				4,844
Commercial real estate ("CRE")
Allowance for loan losses [Roll Forward]
Non-accrual with No Allowance for Credit Loss				3,552
Non-accrual with Allowance				7,043
Reserve	2,786
Acquisition, development, and construction ("ADC")
Allowance for loan losses [Roll Forward]
Non-accrual with Allowance				104
Reserve	59
Real estate
Allowance for loan losses [Roll Forward]
Beginning balance	28,712	15,555	15,555
PCD Day 1	28,753
Provision (credit) for credit losses	9,059	7,372
Charge-offs	(258)	(6)
Recoveries		14
Ending balance	64,290	22,935	28,712
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					28,712
Total ending allowance balance	64,290	22,935	15,555	64,290	28,712
Loans:
Individually evaluated for impairment					4,567
Collectively evaluated for impairment					4,973,628
Total ending loans balance					4,978,195
Real estate \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	(1,976)
Ending balance			(1,976)
Allowance for loan losses:
Total ending allowance balance	(1,976)		(1,976)		(1,976)
Real estate \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	26,736
Ending balance			26,736
Allowance for loan losses:
Total ending allowance balance	26,736		26,736		26,736
Real estate \| One-to-four family residential and cooperative/condominium apartment
Allowance for loan losses [Roll Forward]
Beginning balance	644	269	269
PCD Day 1	2,220
Provision (credit) for credit losses	1,235	376
Charge-offs	(14)	0
Recoveries		0
Ending balance	5,133	645	644
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					644
Total ending allowance balance	5,133	645	269	5,133	644
Loans:
Individually evaluated for impairment					0
Collectively evaluated for impairment					184,989
Total ending loans balance					184,989
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	1,048
Ending balance			1,048
Allowance for loan losses:
Total ending allowance balance	1,048		1,048		1,048
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	1,692
Ending balance			1,692
Allowance for loan losses:
Total ending allowance balance	1,692		1,692		1,692
Real estate \| Multifamily residential and residential mixed-use
Allowance for loan losses [Roll Forward]
Beginning balance	17,016	10,142	10,142
PCD Day 1	3,292
Provision (credit) for credit losses	(1,397)	4,127
Charge-offs	(236)	0
Recoveries		14
Ending balance	10,421	14,283	17,016
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					17,016
Total ending allowance balance	10,421	14,283	10,142	10,421	17,016
Loans:
Individually evaluated for impairment					1,863
Collectively evaluated for impairment					2,756,880
Total ending loans balance					2,758,743
Real estate \| Multifamily residential and residential mixed-use \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	(8,254)
Ending balance			(8,254)
Allowance for loan losses:
Total ending allowance balance	(8,254)		(8,254)		(8,254)
Real estate \| Multifamily residential and residential mixed-use \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	8,762
Ending balance			8,762
Allowance for loan losses:
Total ending allowance balance	8,762		8,762		8,762
Real estate \| Commercial real estate ("CRE")
Allowance for loan losses [Roll Forward]
Beginning balance	9,059	3,900	3,900
PCD Day 1	23,124
Provision (credit) for credit losses	7,813	2,442
Charge-offs	(8)	(6)
Recoveries		0
Ending balance	44,837	6,336	9,059
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					9,059
Total ending allowance balance	44,837	6,336	3,900	44,837	9,059
Loans:
Individually evaluated for impairment					2,704
Collectively evaluated for impairment					1,875,463
Total ending loans balance					1,878,167
Real estate \| Commercial real estate ("CRE") \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	4,849
Ending balance			4,849
Allowance for loan losses:
Total ending allowance balance	4,849		4,849		4,849
Real estate \| Commercial real estate ("CRE") \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	13,908
Ending balance			13,908
Allowance for loan losses:
Total ending allowance balance	13,908		13,908		13,908
Real estate \| Acquisition, development, and construction ("ADC")
Allowance for loan losses [Roll Forward]
Beginning balance	1,993	1,244	1,244
PCD Day 1	117
Provision (credit) for credit losses	1,408	427
Charge-offs		0
Recoveries		0
Ending balance	3,899	1,671	1,993
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					1,993
Total ending allowance balance	3,899	1,671	1,244	3,899	1,993
Loans:
Individually evaluated for impairment					0
Collectively evaluated for impairment					156,296
Total ending loans balance					156,296
Real estate \| Acquisition, development, and construction ("ADC") \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	381
Ending balance			381
Allowance for loan losses:
Total ending allowance balance	381		381		381
Real estate \| Acquisition, development, and construction ("ADC") \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	2,374
Ending balance			2,374
Allowance for loan losses:
Total ending allowance balance	2,374		2,374		2,374
Commercial and industrial ("C&I")
Allowance for loan losses [Roll Forward]
Beginning balance	12,737	12,870	12,870
Provision (credit) for credit losses		641
Charge-offs		0
Recoveries		2
Ending balance		13,513	12,737
Allowance for loan losses:
Individually evaluated for impairment					6,474
Collectively evaluated for impairment					6,263
Total ending allowance balance	12,737	13,513	12,737		12,737
Loans:
Individually evaluated for impairment					12,502
Collectively evaluated for impairment					629,031
Total ending loans balance					641,533
Commercial and industrial ("C&I"), including SBA and PPP loans
Allowance for loan losses [Roll Forward]
Beginning balance	12,737
PCD Day 1	23,374
Provision (credit) for credit losses	3,219
Charge-offs	(4,017)
Ending balance	33,378		12,737
Non-accrual with Allowance				14,523
Reserve	7,881
Allowance for loan losses:
Total ending allowance balance	33,378		12,737	33,378	12,737
Commercial and industrial ("C&I"), including SBA and PPP loans \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	(1,935)
Ending balance			(1,935)
Allowance for loan losses:
Total ending allowance balance	(1,935)		(1,935)		(1,935)
Commercial and industrial ("C&I"), including SBA and PPP loans \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	10,802
Ending balance			10,802
Allowance for loan losses:
Total ending allowance balance	10,802		10,802		10,802
Other loans
Allowance for loan losses [Roll Forward]
Beginning balance	12	16	16
PCD Day 1	157
Provision (credit) for credit losses	371	(1)
Charge-offs		0
Recoveries		0
Ending balance	532	15	12
Non-accrual with Allowance				99
Reserve	58
Allowance for loan losses:
Individually evaluated for impairment					0
Collectively evaluated for impairment					12
Total ending allowance balance	532	$ 15	16	$ 532	12
Loans:
Individually evaluated for impairment					0
Collectively evaluated for impairment					2,316
Total ending loans balance					2,316
Other loans \| Cumulative Effect, Period of Adoption, Adjustment
Allowance for loan losses [Roll Forward]
Beginning balance	(8)
Ending balance			(8)
Allowance for loan losses:
Total ending allowance balance	(8)		(8)		(8)
Other loans \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for loan losses [Roll Forward]
Beginning balance	4
Ending balance			4
Allowance for loan losses:
Total ending allowance balance	$ 4		$ 4		$ 4

LOANS HELD FOR INVESTMENT, NE_4

LOANS HELD FOR INVESTMENT, NET - Impaired Real Estate Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2020
Unpaid Principal Balance [Abstract]
With no related allowance recorded		$ 4,567
With related allowance recorded		12,502
Total		17,069
Recorded Investment [Abstract]
With no related allowance recorded		4,567
With related allowance recorded		12,502
Total		17,069
Related Allowance [Abstract]
Related allowance		6,474
Average Recorded Investment [Abstract]
With no related allowance recorded	$ 3,749
Total	13,831
Interest Income Recognized [Abstract]
With no related allowance recorded	7
Total	7
Real estate
Related Allowance [Abstract]
Related allowance		0
Real estate \| One-to-four family residential and cooperative/condominium apartment
Average Recorded Investment [Abstract]
With no related allowance recorded	2,948
Real estate \| Multifamily residential and residential mixed-use
Unpaid Principal Balance [Abstract]
With no related allowance recorded		1,863
Recorded Investment [Abstract]
With no related allowance recorded		1,863
Related Allowance [Abstract]
Related allowance		0
Average Recorded Investment [Abstract]
With no related allowance recorded	743
Interest Income Recognized [Abstract]
With no related allowance recorded	6
Real estate \| Commercial real estate ("CRE")
Unpaid Principal Balance [Abstract]
With no related allowance recorded		2,704
Recorded Investment [Abstract]
With no related allowance recorded		2,704
Related Allowance [Abstract]
Related allowance		0
Average Recorded Investment [Abstract]
With no related allowance recorded	58
Interest Income Recognized [Abstract]
With no related allowance recorded	1
Commercial and industrial ("C&I")
Unpaid Principal Balance [Abstract]
With related allowance recorded		12,502
Recorded Investment [Abstract]
With related allowance recorded		12,502
Related Allowance [Abstract]
Related allowance		$ 6,474
Average Recorded Investment [Abstract]
With related allowance recorded	$ 10,082

LOANS HELD FOR INVESTMENT, NE_5

LOANS HELD FOR INVESTMENT, NET - Past Due (Details) $ in Thousands	Mar. 31, 2021USD ($)loan		Dec. 31, 2020USD ($)loan
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	$ 35,549	[1]	$ 17,928
Total past due	86,211		37,534
Current	10,419,887		5,584,510
Loans	$ 10,506,098		$ 5,622,044
Number of loans receivables outstanding \| loan	8		3
Aggregate outstanding balance	$ 8,800		$ 3,300
30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	28,976		15,359
60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	12,859		918
Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	8,827		3,329
Real estate
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	20,927	[1]	5,425
Total past due	54,175		21,257
Current	8,094,904		4,956,938
Loans	8,149,079		4,978,195
Real estate \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	15,713		15,351
Real estate \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	12,360		0
Real estate \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	5,175		481
Real estate \| One-to-four family residential and cooperative/condominium apartment
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	5,384	[1]	858
Total past due	13,142		902
Current	683,273		184,087
Loans	696,415		184,989
Real estate \| One-to-four family residential and cooperative/condominium apartment \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	7,027		0
Real estate \| One-to-four family residential and cooperative/condominium apartment \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	686		0
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	45		44
Real estate \| Multifamily residential and residential mixed-use
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	4,844	[1]	1,863
Total past due	20,039		2,300
Current	3,547,168		2,756,443
Loans	3,567,207		2,758,743
Real estate \| Multifamily residential and residential mixed-use \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	3,984		0
Real estate \| Multifamily residential and residential mixed-use \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	8,340		0
Real estate \| Multifamily residential and residential mixed-use \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	2,871		437
Real estate \| Commercial real estate ("CRE")
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	10,595	[1]	2,704
Total past due	20,890		18,055
Current	3,610,397		1,860,112
Loans	3,631,287		1,878,167
Real estate \| Commercial real estate ("CRE") \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	4,702		15,351
Real estate \| Commercial real estate ("CRE") \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	3,334		0
Real estate \| Commercial real estate ("CRE") \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	2,259		0
Real estate \| Acquisition, development, and construction ("ADC")
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	104	[1]	0
Total past due	104		0
Current	254,066		156,296
Loans	254,170		156,296
Real estate \| Acquisition, development, and construction ("ADC") \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	0		0
Real estate \| Acquisition, development, and construction ("ADC") \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	0		0
Real estate \| Acquisition, development, and construction ("ADC") \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	0		0
Commercial and industrial ("C&I")
Financing Receivable, Recorded Investment, Aging [Abstract]
Loans	2,332,610		641,533
Commercial and industrial ("C&I"), including SBA and PPP loans
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	14,523	[1]	12,502
Total past due	31,839		16,267
Current	2,300,771		625,266
Loans	2,332,610		641,533
Commercial and industrial ("C&I"), including SBA and PPP loans \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	13,254		0
Commercial and industrial ("C&I"), including SBA and PPP loans \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	410		917
Commercial and industrial ("C&I"), including SBA and PPP loans \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	3,652		2,848
Other loans
Financing Receivable, Recorded Investment, Aging [Abstract]
Non-accrual	99	[1]	1
Total past due	197		10
Current	24,212		2,306
Loans	24,409		2,316
Other loans \| 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	9		8
Other loans \| 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	89		1
Other loans \| Loans 90 Days or More Past Due and Still Accruing Interest [Member]
Financing Receivable, Recorded Investment, Aging [Abstract]
Total past due	$ 0		$ 0

[1]	Includes all loans on non-accrual status regardless of the number of days such loans were delinquent as of March 31, 2021.

LOANS HELD FOR INVESTMENT, NE_6

LOANS HELD FOR INVESTMENT, NET - Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment		$ 17,069
Individually evaluated for impairment		6,474
Commercial and industrial ("C&I")
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment		12,502
Individually evaluated for impairment		$ 6,474
Collateral Dependent Loans \| Commercial and industrial ("C&I")
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	$ 8,000
Individually evaluated for impairment	4,100
Collateral Dependent Loans \| Commercial real estate ("CRE")
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	66,000
Individually evaluated for impairment	17,400
Collateral Dependent Loans \| Multifamily residential and residential mixed-use
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	12,500
Individually evaluated for impairment	$ 2,600

LOANS HELD FOR INVESTMENT, NE_7

LOANS HELD FOR INVESTMENT, NET - Deferral Loans (Details) $ in Thousands		Mar. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)
CARES Act Loan [Abstract]
Balance		$ 10,506,098	$ 5,622,044
COVID-19 [Member]
CARES Act Loan [Abstract]
Number of loans \| loan		34
Balance	[1]	$ 66,654
% of portfolio		0.60%
One-to-four family residential and cooperative/condominium apartment \| COVID-19 [Member]
CARES Act Loan [Abstract]
Number of loans \| loan		15
Balance	[1]	$ 15,489
% of portfolio		2.20%
Commercial real estate ("CRE") \| COVID-19 [Member]
CARES Act Loan [Abstract]
Number of loans \| loan		8
Balance	[1]	$ 24,174
% of portfolio		0.70%
Acquisition, development, and construction ("ADC") \| COVID-19 [Member]
CARES Act Loan [Abstract]
Number of loans \| loan		1
Balance	[1]	$ 13,500
% of portfolio		5.30%
Real estate
CARES Act Loan [Abstract]
Balance		$ 8,149,079	4,978,195
Real estate \| One-to-four family residential and cooperative/condominium apartment
CARES Act Loan [Abstract]
Balance		696,415	184,989
Real estate \| Multifamily residential and residential mixed-use
CARES Act Loan [Abstract]
Balance		3,567,207	2,758,743
Real estate \| Commercial real estate ("CRE")
CARES Act Loan [Abstract]
Balance		3,631,287	1,878,167
Real estate \| Acquisition, development, and construction ("ADC")
CARES Act Loan [Abstract]
Balance		254,170	156,296
Commercial and industrial ("C&I")
CARES Act Loan [Abstract]
Balance		2,332,610	641,533
Commercial and industrial ("C&I"), including SBA and PPP loans
CARES Act Loan [Abstract]
Balance		$ 2,332,610	$ 641,533
Commercial and industrial ("C&I"), including SBA and PPP loans \| COVID-19 [Member]
CARES Act Loan [Abstract]
Number of loans \| loan		10
Balance	[1]	$ 13,491
% of portfolio		0.60%

[1]	Amount excludes net deferred costs due to immateriality.

LOANS HELD FOR INVESTMENT, NE_8

LOANS HELD FOR INVESTMENT, NET - Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Credit Risk Profile of Real Estate Loans [Abstract]
Percentage of aggregate rental income	50.00%
Loans	$ 10,506,098	$ 5,622,044
2021	879,616
2020	2,373,222
2019	1,360,228
2018	830,392
2017	1,124,441
2016 and Prior	3,043,267
Revolving	724,519
Revolving-Term	146,004
Total	10,481,689
One-to-four family residential and cooperative/condominium apartment
Credit Risk Profile of Real Estate Loans [Abstract]
2021	30,658
2020	102,503
2019	97,118
2018	105,785
2017	101,472
2016 and Prior	188,043
Revolving	55,025
Revolving-Term	15,811
Total	696,415
One-to-four family residential and cooperative/condominium apartment \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	30,658
2020	102,503
2019	95,992
2018	105,587
2017	101,101
2016 and Prior	177,780
Revolving	54,179
Revolving-Term	13,426
Total	681,226
One-to-four family residential and cooperative/condominium apartment \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2019	381
2018	152
2017	371
2016 and Prior	5,106
Revolving	846
Revolving-Term	1,106
Total	7,962
One-to-four family residential and cooperative/condominium apartment \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2019	745
2018	46
2016 and Prior	5,157
Revolving-Term	1,279
Total	7,227
Multifamily residential and residential mixed-use
Credit Risk Profile of Real Estate Loans [Abstract]
2021	95,876
2020	365,073
2019	554,328
2018	242,739
2017	514,157
2016 and Prior	1,784,829
Revolving	10,194
Revolving-Term	11
Total	3,567,207
Multifamily residential and residential mixed-use \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	95,876
2020	365,073
2019	518,902
2018	215,459
2017	464,424
2016 and Prior	1,672,655
Revolving	9,698
Revolving-Term	11
Total	3,342,098
Multifamily residential and residential mixed-use \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2019	1,005
2017	17,169
2016 and Prior	17,057
Total	35,231
Multifamily residential and residential mixed-use \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2019	34,421
2018	27,280
2017	32,564
2016 and Prior	95,117
Revolving	496
Total	189,878
Commercial real estate ("CRE")
Credit Risk Profile of Real Estate Loans [Abstract]
2021	184,029
2020	872,325
2019	610,966
2018	419,212
2017	440,167
2016 and Prior	1,028,085
Revolving	50,050
Revolving-Term	26,453
Total	3,631,287
Commercial real estate ("CRE") \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	184,029
2020	867,480
2019	604,893
2018	396,946
2017	404,571
2016 and Prior	978,940
Revolving	50,050
Revolving-Term	26,440
Total	3,513,349
Commercial real estate ("CRE") \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2020	4,256
2019	2,673
2018	9,031
2017	13,536
2016 and Prior	11,578
Total	41,074
Commercial real estate ("CRE") \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2020	589
2019	3,400
2018	13,235
2017	22,060
2016 and Prior	37,567
Revolving-Term	10
Total	76,861
Commercial real estate ("CRE") \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Revolving-Term	3
Total	3
Acquisition, development, and construction ("ADC")
Credit Risk Profile of Real Estate Loans [Abstract]
2021	8,105
2020	39,106
2019	23,599
2018	11,597
2017	5,615
2016 and Prior	1,460
Revolving	121,537
Revolving-Term	43,151
Total	254,170
Acquisition, development, and construction ("ADC") \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	8,105
2020	39,106
2019	23,599
2018	10,520
2017	5,615
2016 and Prior	1,355
Revolving	121,537
Revolving-Term	29,651
Total	239,488
Acquisition, development, and construction ("ADC") \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2018	1,077
Revolving-Term	13,500
Total	14,577
Acquisition, development, and construction ("ADC") \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2016 and Prior	105
Total	105
C&I [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	560,948
2020	994,215
2019	74,217
2018	51,059
2017	63,030
2016 and Prior	40,850
Revolving	487,713
Revolving-Term	60,578
Total	2,332,610
C&I [Member] \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2021	560,948
2020	991,821
2019	71,898
2018	44,089
2017	47,108
2016 and Prior	38,787
Revolving	461,029
Revolving-Term	42,082
Total	2,257,762
C&I [Member] \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2020	2,345
2019	1,270
2018	5,553
2017	765
2016 and Prior	559
Revolving	22,566
Revolving-Term	3,078
Total	36,136
C&I [Member] \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2020	49
2019	839
2018	1,417
2017	3,228
2016 and Prior	1,314
Revolving	4,118
Revolving-Term	15,190
Total	26,155
C&I [Member] \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
2019	210
2017	11,929
2016 and Prior	190
Revolving-Term	228
Total	12,557
Real estate
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	8,149,079	4,978,195
Real estate \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		4,681,059
Real estate \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		83,761
Real estate \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		213,375
Real estate \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| One-to-four family residential and cooperative/condominium apartment
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	696,415	184,989
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		183,293
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		1,696
Real estate \| One-to-four family residential and cooperative/condominium apartment \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| Multifamily residential and residential mixed-use
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	3,567,207	2,758,743
Real estate \| Multifamily residential and residential mixed-use \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		2,523,258
Real estate \| Multifamily residential and residential mixed-use \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		56,400
Real estate \| Multifamily residential and residential mixed-use \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		179,085
Real estate \| Multifamily residential and residential mixed-use \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| Commercial real estate ("CRE")
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	3,631,287	1,878,167
Real estate \| Commercial real estate ("CRE") \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		1,831,712
Real estate \| Commercial real estate ("CRE") \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		13,861
Real estate \| Commercial real estate ("CRE") \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		32,594
Real estate \| Commercial real estate ("CRE") \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| Acquisition, development, and construction ("ADC")
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	254,170	156,296
Real estate \| Acquisition, development, and construction ("ADC") \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		142,796
Real estate \| Acquisition, development, and construction ("ADC") \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		13,500
Real estate \| Acquisition, development, and construction ("ADC") \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Real estate \| Acquisition, development, and construction ("ADC") \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		0
Commercial and industrial ("C&I")
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	2,332,610	641,533
Commercial and industrial ("C&I"), including SBA and PPP loans
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	2,332,610	641,533
Commercial and industrial ("C&I"), including SBA and PPP loans \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		613,691
Commercial and industrial ("C&I"), including SBA and PPP loans \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		2,131
Commercial and industrial ("C&I"), including SBA and PPP loans \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		13,315
Commercial and industrial ("C&I"), including SBA and PPP loans \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		12,396
Real Estate Loans and C & I Loans [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		5,619,728
Real Estate Loans and C & I Loans [Member] \| Pass [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		5,294,750
Real Estate Loans and C & I Loans [Member] \| Special Mention [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		85,892
Real Estate Loans and C & I Loans [Member] \| Substandard [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		226,690
Real Estate Loans and C & I Loans [Member] \| Doubtful [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		12,396
Other loans
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	24,409	2,316
Other loans \| Credit Risk Profile [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	24,409
Other loans \| Performing [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		2,315
Other loans \| Performing [Member] \| Credit Risk Profile [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	24,310
Other loans \| Non-Accrual [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans		$ 1
Other loans \| Non-Accrual [Member] \| Credit Risk Profile [Member]
Credit Risk Profile of Real Estate Loans [Abstract]
Loans	$ 99

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended
LEASES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Feb. 01, 2021	Dec. 31, 2020
LEASES
Operating lease assets			$ 45,600
Operating lease liabilities			$ 45,300
Maturities of the Company's operating lease liabilities
2021	$ 10,570
2022	11,367
2023	9,665
2024	9,530
2025	9,141
Thereafter	26,289
Total undiscounted lease payments	76,562
Less amounts representing interest	5,313
Lease liability	71,249			$ 39,874
Other information related to operating leases:
Operating lease cost	3,158	$ 1,603
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,050	$ 1,811
Weighted average remaining lease term	7 years 2 months 12 days	7 years 10 months 24 days
Weighted average discount rate	1.87%	3.25%

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES, Classification on Consolidated Statements of Financial Condition (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)DerivativeInstrument	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)DerivativeInstrument
Cash Flow Hedges
Maximum period for future cash flows of forecasted transactions	24 months
Fair value assets	$ 7,100
Designated as Hedging Instrument
Cash Flow Hedges
Number of derivatives terminated \| DerivativeInstrument	34
Derivative notional amount	$ 785,000
Termination value of derivative	16,500
Not Designated as Hedging Instrument
Cash Flow Hedges
Loan level derivative income	1,792	$ 1,163
Posted collateral	10,800
Interest Rate Products \| Designated as Hedging Instrument
Cash Flow Hedges
Estimated reclassification decrease to interest expense during next twelve months	$ 117
Interest Rate Swaps Related to FHLBNY Advances \| Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	4
Count, liabilities \| DerivativeInstrument			32
Notional amount, assets	$ 150,000
Notional amount, liabilities			$ 655,000
Fair value assets	$ 3,944
Fair value liabilities			$ (18,442)
Loan Level Interest Rate Swaps with Borrower \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	109		65
Count, liabilities \| DerivativeInstrument	72
Notional amount, assets	$ 689,408		$ 570,277
Notional amount, liabilities	543,095
Fair value assets	28,104		$ 24,764
Fair value liabilities	$ (16,468)
Loan Level Interest Rate Floors with Borrower \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	46
Count, liabilities \| DerivativeInstrument			41
Notional amount, assets	$ 406,923
Notional amount, liabilities			$ 364,643
Fair value assets	0
Fair value liabilities	$ (5,294)		$ (5,832)
Loan Level Interest Rate Swaps with Third-part Counterparties \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	109
Count, liabilities \| DerivativeInstrument	72		65
Notional amount, assets	$ 689,408
Notional amount, liabilities	543,095		$ 570,277
Fair value assets	16,468
Fair value liabilities	$ (28,104)		$ (24,764)
Loan Level Interest Rate Floors with Third-part Counterparties \| Not Designated as Hedging Instrument
Cash Flow Hedges
Count, assets \| DerivativeInstrument	46		41
Notional amount, assets	$ 406,923		$ 364,643
Fair value assets	5,294		$ 5,832
Fair value liabilities	$ 0

DERIVATIVES AND HEDGING ACTIV_4

DERIVATIVES AND HEDGING ACTIVITIES, Effect on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
Amount of gain (loss) recognized in other comprehensive income	$ 21,453	$ (20,581)
Interest Rate Products \| Other Comprehensive Income
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
Amount of gain (loss) recognized in other comprehensive income	21,453	(20,581)
Interest Rate Products \| Other Comprehensive Income \| Interest Expense
Effect of cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss):
Amount of gain (loss) reclassified from other comprehensive income into interest expense	$ 854	$ 204

DERIVATIVES AND HEDGING ACTIV_5

DERIVATIVES AND HEDGING ACTIVITIES, Offsetting of Derivative Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)item
Credit Risk Related Contingent Features [Abstract]
Number of provisions breached \| item	0
FHLBNY advances \| $	$ 7.1

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial Assets
Derivative assets	$ 45,760	$ 18,932
Financial Liabilities
Derivative liabilities	41,816	37,374
Recurring [Member] \| Cash flow hedges
Financial Assets
Derivative assets	3,944
Financial Liabilities
Derivative liabilities		18,442
Recurring [Member] \| Freestanding derivatives
Financial Assets
Derivative assets	41,816	30,596
Financial Liabilities
Derivative liabilities	41,816	30,596
Recurring [Member] \| Level 2 Inputs [Member] \| Cash flow hedges
Financial Assets
Derivative assets	3,944
Financial Liabilities
Derivative liabilities		18,442
Recurring [Member] \| Level 2 Inputs [Member] \| Freestanding derivatives
Financial Assets
Derivative assets	41,816	30,596
Financial Liabilities
Derivative liabilities	41,816	30,596
Nonrecurring [Member]
Impaired Loans [Abstract]
Fair value	0	0
Agency Notes \| Recurring [Member]
Financial Assets
Securities available-for-sale:	69,570	47,421
Agency Notes \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:	69,570	47,421
Treasury Securities \| Recurring [Member]
Financial Assets
Securities available-for-sale:	92,272
Treasury Securities \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:	92,272
Corporate Securities \| Recurring [Member]
Financial Assets
Securities available-for-sale:	98,733	64,461
Corporate Securities \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:	98,733	64,461
Pass-through MBS issued by GSEs \| Recurring [Member]
Financial Assets
Securities available-for-sale:		143,483
Mortgage-backed securities	323,707
Pass-through MBS issued by GSEs \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:		143,483
Mortgage-backed securities	323,707
Agency Collateralized Mortgage Obligations ("CMOs") \| Recurring [Member]
Financial Assets
Securities available-for-sale:	522,822	283,496
Agency Collateralized Mortgage Obligations ("CMOs") \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:	522,822	283,496
State and municipal obligations \| Recurring [Member]
Financial Assets
Securities available-for-sale:	45,389
State and municipal obligations \| Recurring [Member] \| Level 2 Inputs [Member]
Financial Assets
Securities available-for-sale:	$ 45,389
Domestic Equity Mutual Funds [Member] \| Recurring [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		1,769
Domestic Equity Mutual Funds [Member] \| Recurring [Member] \| Level 1 Inputs [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		1,769
International Equity Mutual funds [Member] \| Recurring [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		468
International Equity Mutual funds [Member] \| Recurring [Member] \| Level 1 Inputs [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		468
Fixed Income Mutual funds [Member] \| Recurring [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		3,733
Fixed Income Mutual funds [Member] \| Recurring [Member] \| Level 1 Inputs [Member]
Financial Assets
Marketable equity securities (Registered Mutual Funds)		$ 3,733

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS, Balance Sheet Groupings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and due from banks	$ 676,723	$ 243,603
Loans, net	10,407,898	5,580,583
Accrued interest receivable	51,100	34,815
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,270,496	3,212,495
Certificates of Deposits ("CDs")	1,540,316	1,322,638
FHLBNY Advances	533,865	1,204,010
Subordinated debt, net	197,234	114,052
Other borrowings	126,763	120,000
Accrued interest payable	2,024	1,734
Fair Value [Member]
Financial Assets [Abstract]
Cash and due from banks	676,723	243,603
Loans, net	10,489,350	5,598,787
Accrued interest receivable	51,100	34,815
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,270,496	3,212,495
Certificates of Deposits ("CDs")	1,545,436	1,328,554
FHLBNY Advances	534,049	1,207,890
Subordinated debt, net	198,297	114,340
Other borrowings	126,763	120,000
Accrued interest payable	2,024	1,734
Fair Value [Member] \| Level 1 Inputs [Member]
Financial Assets [Abstract]
Cash and due from banks	676,723	243,603
Accrued interest receivable		2
Financial Liabilities [Abstract]
Savings, money market and checking accounts	9,270,496	3,212,495
Other borrowings	126,763	120,000
Fair Value [Member] \| Level 2 Inputs [Member]
Financial Assets [Abstract]
Accrued interest receivable	3,602	1,584
Financial Liabilities [Abstract]
Certificates of Deposits ("CDs")	1,545,436	1,328,554
FHLBNY Advances	534,049	1,207,890
Subordinated debt, net	198,297	114,340
Accrued interest payable	2,024	1,734
Fair Value [Member] \| Level 3 Inputs [Member]
Financial Assets [Abstract]
Loans, net	10,489,350	5,598,787
Accrued interest receivable	$ 47,498	$ 33,229

OTHER INTANGIBLE ASSETS (Detail

OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Feb. 01, 2021	Mar. 31, 2021	Mar. 31, 2020
Acquired intangible assets:
Gross carrying value		$ 10,984
Accumulated amortization		(357)	$ 0
Net carrying amount		10,627
Core deposits
Acquired intangible assets:
Gross Carrying Amount	$ 10,200
Gross carrying value		10,204
Accumulated amortization		(357)
Net carrying amount		9,847
Noncompete Agreements
Acquired intangible assets:
Gross Carrying Amount	$ 780
Gross carrying value		780
Net carrying amount		$ 780

OTHER INTANGIBLE ASSETS - Estim

OTHER INTANGIBLE ASSETS - Estimated Amortization Expense for Next Five Years (Details) $ in Thousands	Mar. 31, 2021USD ($)
OTHER INTANGIBLE ASSETS
2021	$ 2,265
2022	1,878
2023	1,425
2024	1,163
2025	958
Thereafter	2,938
Net carrying amount	$ 10,627

FEDERAL HOME LOAN BANK ADVANC_3

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Contractual Maturity, Amount
Overnight	$ 175,000
2021	308,865
2021/2022	50,000	$ 1,144,010
2022		60,000
Total FHLB advances	$ 533,865	$ 1,204,010
Weighted Average Rate
Overnight (as a percent)	0.32%
2021	0.35%	0.52%
2022	0.37%	0.60%
Weighted Average Rate for total FHLB advances (as a percent)	0.34%	0.53%

FEDERAL HOME LOAN BANK ADVANC_4

FEDERAL HOME LOAN BANK ADVANCES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Advances collateralized amount	$ 3,800		$ 2,200
Maximum borrowing amount from FHLB term advances	3,900
FHLB advances with contractual maturities after 2022	0
Legacy Dime
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
FHLB advances	216.3
Prepayments penalty expenses	1.6	$ 0
Extinguishment of FHLB	$ 130.2
Weighted average rate	1.91%

SUBORDINATED DEBENTURES (Detail

SUBORDINATED DEBENTURES (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
SUBORDINATED DEBENTURES (Details) - USD ($) $ in Millions	Sep. 30, 2015	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2017	Dec. 31, 2020
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 80
Subordinated notes payable, net		$ 197.2			$ 114.1
Interest expense related to the subordinated debt		$ 1.9	$ 1.3
Subordinated Debentures
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures				$ 115
Fixed annual interest rate				4.50%
Basis points				266.00%
Callable Notes After Five Years \| Subordinated Debentures
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 40
Debt Instrument, Term	5 years
Fixed annual interest rate	5.25%
Debt instrument variable rate description	three-month LIBOR
Basis points	360.00%
Callable Notes After Ten Years \| Subordinated Debentures
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 40
Debt Instrument, Term	10 years
Fixed annual interest rate	5.75%
Debt instrument variable rate description	three-month LIBOR
Basis points	345.00%

RETIREMENT AND POSTRETIREMENT_3

RETIREMENT AND POSTRETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Retirement and Postretirement Plans [Abstract]
Curtailment loss	$ 1,543
Distributions to Retired Participants [Abstract]
Defined contribution plan description	100% of each employee’s contributions up to 1% of each employee’s compensation plus 50% of each employee’s contributions over 1% but not in excess of 6% of each employee’s compensation for a maximum contribution of 3.5% of a participating employee’s compensation.
Minimum employee contribution percentage	1.00%
Percentage of employer matching contribution	50.00%
Threshold limit percentage of employee compensation	6.00%
Maximum percentage of annual contribution per employee	3.50%
Cash	$ 9,200
Market value of Common Stock from Employee Stock Ownership Plan of BMP (000 shares)	$ 2,400
Returned to treasury Stock	41,101
Gross lump-sum distribution	$ 11,600
Non-cash tax benefit	$ 301
Distribution of common stock (in shares)	88,081
BMP Retirement Plan [Member]
Retirement and Postretirement Plans [Abstract]
Planned contributions/benefit payments	$ 0
Retirement Plans [Member] \| BMP, Employee and Outside Director Retirement Plans [Member]
Net Periodic Benefit Cost [Abstract]
Service cost	148
Interest cost	249	$ 183
Expected return on assets	(984)	(428)
Amortization of unrealized loss	206	229
Net periodic benefit credit	(381)	$ (16)
Retirement and Postretirement Plans [Abstract]
Planned contributions/benefit payments	2,800
Actual contributions/benefit payments	6,200
Curtailment loss	$ 1,500

STOCK-BASED COMPENSATION, (Deta

STOCK-BASED COMPENSATION, (Details) - shares	Mar. 31, 2021	Dec. 31, 2020
Dime 2020 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	681,098
2019 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	197,889
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested and outstanding share-based awards		0
Sales Incentive Award Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested and outstanding share-based awards		0

STOCK-BASED COMPENSATION, Stock

STOCK-BASED COMPENSATION, Stock Option Awards (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Information Related to Stock Option Plans [Abstract]
Cash received for option exercise cost \| $	$ 372
Stock Option Awards
Number of Options [Roll Forward]
Options outstanding, beginning of period (in shares) \| shares	28,842
Options outstanding at January 1, 2021 as adjusted for conversion (in shares) \| shares	18,685
Options acquired (in shares) \| shares	180,020
Options exercised (in shares) \| shares	15,928
Options outstanding, end of period (in shares) \| shares	182,777
Options vested and exercisable, end of period (in shares) \| shares	182,777
Weighted-Average Exercise Price [Abstract]
Options outstanding, beginning of period (in dollars per share) \| $ / shares	$ 15.05
Options outstanding at January 1, 2021 as adjusted for conversion (in dollars per share) \| $ / shares	23.23
Options acquired (in dollars per share) \| $ / shares	35.39
Options exercised (in dollars per share) \| $ / shares	23.37
Options outstanding, end of period (in dollars per share) \| $ / shares	35.19
Options vested and exercisable. end of period (in dollars per share) \| $ / shares	$ 35.19
Weighted-Average Remaining Contractual Years
Options outstanding	8 years
Options vested and exercisable	8 years
Aggregate Intrinsic Value [Abstract]
Options outstanding \| $	$ 0
Options vested and exercisable \| $	0
Information Related to Stock Option Plans [Abstract]
Cash received for option exercise cost \| $	372
Intrinsic value of options exercised \| $	$ 66

STOCK-BASED COMPENSATION, Restr

STOCK-BASED COMPENSATION, Restricted Stock Awards (Details) - Restricted Stock Awards [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted Stock Awards [Abstract]
Unrecognized compensation cost	$ 10,000
Weighted average remaining years for which compensation expense is to be recognized	3 years	2 years 4 months 24 days
Number of Shares [Roll Forward]
Unvested allocated shares outstanding, beginning of period (in shares)	0
Shares acquired (in shares)	89,043
Shares granted (in shares)	431,114
Shares vested (in shares)	(89,043)
Shares forfeited (in shares)	(1,050)
Unvested allocated shares outstanding, end of period (in shares)	430,064
Weighted-Average Grant-Date Fair Value [Abstract]
Shares acquired (in dollars per share)	$ 31
Shares granted (in dollars per share)	25.54
Shares vested (in dollars per share)	31
Shares forfeited (in dollars per share)	25.98
Unvested allocated shares outstanding, end of period (in dollars per share)	$ 25.54
Information Related to Restricted Stock Awards [Abstract]
Compensation expense recognized	$ 836	$ 461
Income tax benefit (expense) recognized on vesting of RSA		$ 4
Weighted average remaining years for which compensation expense is to be recognized	3 years	2 years 4 months 24 days
Certain Officers [Member] \| Minimum [Member]
Restricted Stock Awards [Abstract]
Award vesting period	3 years
Certain Officers [Member] \| Maximum [Member]
Restricted Stock Awards [Abstract]
Award vesting period	4 years

STOCK-BASED COMPENSATION, Perfo

STOCK-BASED COMPENSATION, Performance Based Equity Awards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Performance Shares [Member]
Performance Based Equity Awards [Abstract]
Percentage of threshold target for each award eligible to be earned based on relative performance	50.00%
Percentage of target for each award eligible to be earned based on relative performance	100.00%
Percentage of maximum target for each award eligible to be earned based on relative performance	150.00%
Unrecognized compensation cost		$ 155
Award vesting period	3 years
Sales Incentive Award Program [Member]
Performance Based Equity Awards [Abstract]
Unrecognized compensation cost		$ 55
Award vesting period	1 year

INCOME TAXES (Details)

INCOME TAXES (Details) - item	3 Months Ended
INCOME TAXES (Details) - item	Mar. 31, 2021	Mar. 31, 2020
INCOME TAXES
Effective tax rate	25.20%	21.60%
Number of significant and unusual income tax items in the period	0	0

MERGER RELATED EXPENSES (Detail

MERGER RELATED EXPENSES (Details) $ in Thousands	3 Months Ended
MERGER RELATED EXPENSES (Details) $ in Thousands	Mar. 31, 2021USD ($)
Business Acquisition [Line Items]
Transaction costs	$ 24,900
Bridge shareholders
Business Acquisition [Line Items]
Costs associated with employee severance and other merger-related compensation expense	12,100
Merger expenses	$ 922