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BRKL Brookline Bancorp

Cover

Cover - shares3 Months Ended
Mar. 31, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number0-23695
Entity Registrant NameBROOKLINE BANCORP INC
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number04-3402944
Entity Address, Address Line One131 Clarendon Street
Entity Address, City or TownBoston
Entity Address, State or ProvinceMA
Entity Address, Postal Zip Code02116
City Area Code617
Local Phone Number425-4600
Title of 12(b) SecurityCommon Stock
Trading SymbolBRKL
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growthfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding78,192,589
Entity Central Index Key0001049782
Current Fiscal Year End Date--12-31
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Amendment Flagfalse

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
ASSETS
Cash and due from banks $ 41,284 $ 36,069
Short-term investments89,643 398,848
Total cash and cash equivalents130,927 434,917
Investment securities available-for-sale729,901 745,822
Equity securities held-for-trading518 526
Total investment securities730,419 746,348
Total loans and leases7,267,552 7,269,553
Allowance for loan and lease losses(109,837)(114,379)
Net loans and leases7,157,715 7,155,174
Restricted equity securities40,400 49,786
Premises and equipment, net of accumulated depreciation of $83,290 and $82,233, respectively72,524 71,568
Right-of-use asset operating leases23,180 24,143
Deferred tax asset42,857 40,129
Goodwill160,427 160,427
Identified intangible assets, net of accumulated amortization of $38,984 and $38,752, respectively2,920 3,152
Other real estate owned ("OREO") and repossessed assets, net6,383 6,515
Other assets192,058 250,265
Total assets8,559,810 8,942,424
Deposits:
Demand checking accounts1,724,170 1,592,205
Interest-bearing deposits5,142,616 5,318,491
Total deposits6,866,786 6,910,696
Borrowed funds:
Advances from the Federal Home Loan Bank of Boston ("FHLBB")378,646 648,849
Subordinated debentures and notes83,783 83,746
Other borrowed funds83,574 87,652
Total borrowed funds546,003 820,247
Operating lease liabilities23,180 24,143
Mortgagors' escrow accounts6,483 5,901
Reserve for unfunded credits13,705 13,071
Accrued expenses and other liabilities158,254 226,588
Total liabilities7,614,411 8,000,646
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; 85,177,172 shares issued and 85,177,172 shares issued, respectively852 852
Additional paid-in capital737,882 737,178
Retained earnings, partially restricted282,301 264,892
Accumulated other comprehensive income2,082 16,490
Treasury stock, at cost; 6,534,602 shares and 6,525,783 shares, respectively(77,463)(77,343)
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP"); 44,502 shares and 51,114 shares, respectively(255)(291)
Total stockholders' equity945,399 941,778
Total liabilities and stockholders' equity8,559,810 8,942,424
Commercial real estate loans
ASSETS
Total loans and leases3,790,341 3,823,826
Commercial loans and leases
ASSETS
Total loans and leases2,324,202 2,274,899
Consumer loans
ASSETS
Total loans and leases $ 1,153,009 $ 1,170,828

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2021Mar. 31, 2020
Statement of Financial Position [Abstract]
Premises and equipment, accumulated depreciation and amortization $ 83,290 $ 82,233
Identified intangible assets, accumulated amortization $ 38,984 $ 38,752
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares)200,000,000 200,000,000
Common stock, shares issued (in shares)85,177,172 85,177,172
Treasury stock, shares (in shares)6,534,602 6,525,783
Unallocated common stock held by ESOP, (in shares)44,502 51,114

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Interest and dividend income:
Loans and leases $ 75,009 $ 79,559
Debt securities3,118 2,976
Marketable and restricted equity securities301 778
Short-term investments39 209
Total interest and dividend income78,467 83,522
Interest expense:
Deposits6,707 16,240
Borrowed funds2,651 5,570
Total interest expense9,358 21,810
Net interest income69,109 61,712
(Credit) provision for credit losses(2,147)54,114
Net interest income after provision for credit losses71,256 7,598
Non-interest income:
Loan level derivative income, net474 2,156
(Loss) gain on investment securities, net(7)1,330
Gain on sales of loans and leases held-for-sale709 120
Other738 2,714
Total non-interest income4,794 9,328
Non-interest expense:
Compensation and employee benefits25,821 25,219
Occupancy4,004 3,953
Equipment and data processing4,493 4,703
Professional services1,226 1,651
FDIC insurance1,044 378
Advertising and marketing1,100 1,075
Amortization of identified intangible assets232 336
Other2,891 3,433
Total non-interest expense40,811 40,748
Income (loss) before provision for income taxes35,239 (23,822)
Provision (benefit) for income taxes8,785 (6,546)
Net income (loss) $ 26,454 $ (17,276)
Earnings per common share:
Basic (in dollars per share) $ 0.34 $ (0.22)
Diluted (in dollars per share) $ 0.34 $ (0.22)
Weighted average common shares outstanding during the year:
Basic (in shares)78,143,752 79,481,462
Diluted (in shares)78,404,063 79,665,774
Dividends paid per common share (in dollars per share) $ 0.115 $ 0.115
Deposit fees
Non-interest income:
Non-interest income, fees $ 2,281 $ 2,458
Loan fees
Non-interest income:
Non-interest income, fees $ 599 $ 550

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss) $ 26,454 $ (17,276)
Investment securities available-for-sale:
Unrealized securities holding gains (losses)(18,481)18,810
Income tax (expense) benefit4,073 (4,146)
Net unrealized securities holding gains (losses) before reclassification adjustments, net of taxes(14,408)14,664
Cash flow hedges:
Change in fair value of cash flow hedges2 0
Reclassification adjustment for (income) expense recognized in earnings(2)0
Net change in fair value of cash flow hedges0 0
Other comprehensive income (loss)(14,408)14,664
Comprehensive income (loss) $ 12,046 $ (2,612)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in ThousandsTotalAdoption of ASU 2016-13 (CECL)Common StockAdditional Paid-in CapitalRetained EarningsRetained EarningsAdoption of ASU 2016-13 (CECL)Accumulated Other Comprehensive Income (Loss)Treasury StockUnallocated Common Stock Held by ESOP
Balance beginning at Dec. 31, 2019 $ 945,606 $ (11,523) $ 852 $ 736,601 $ 265,376 $ (11,523) $ 2,283 $ (59,073) $ (433)
Increase (Decrease) in Stockholders' Equity
Net income (loss)(17,276)(17,276)
Other comprehensive income (loss)14,664 14,664
Common stock dividends(9,173)(9,173)
Compensation under recognition and retention plans579 758 (45)(134)
Treasury stock, repurchase shares(10,410)(10,410)
Common stock held by ESOP committed to be released101 63 38
Balance ending at Mar. 31, 2020912,568 852 737,422 227,359 16,947 (69,617)(395)
Balance beginning at Dec. 31, 2020941,778 852 737,178 264,892 16,490 (77,343)(291)
Increase (Decrease) in Stockholders' Equity
Net income (loss)26,454 26,454
Other comprehensive income (loss)(14,408)(14,408)
Common stock dividends(8,992)(8,992)
Restricted stock awards issued, net of awards surrendered0 120 (120)
Compensation under recognition and retention plans484 537 (53)
Common stock held by ESOP committed to be released83 47 36
Balance ending at Mar. 31, 2021 $ 945,399 $ 852 $ 737,882 $ 282,301 $ 2,082 $ (77,463) $ (255)

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends paid per common share (in dollars per share) $ 0.115 $ 0.115
Common stock held by ESOP committed to be released, shares (in shares)6,612 7,107

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities:
Net income (loss) $ 26,454 $ (17,276)
Adjustments to reconcile net income to net cash provided from operating activities:
(Credit) provision for credit losses(2,147)54,114
Deferred income tax expense (benefit)1,345 (17,270)
Depreciation of premises and equipment1,318 1,581
Amortization of investment securities premiums and discounts, net770 384
Amortization of deferred loan and lease origination costs, net1,584 2,154
Amortization of identified intangible assets232 336
Amortization of debt issuance costs25 26
Accretion of acquisition fair value adjustments, net(51)(372)
Loss (gain) on investment securities, net7 (1,330)
Gain on sales of loans and leases held-for-sale(709)(120)
Write-down of OREO and other repossessed assets129 354
Compensation under recognition and retention plans536 624
ESOP shares committed to be released83 101
Net change in:
Cash surrender value of bank-owned life insurance(251)(254)
Other assets58,480 (103,913)
Accrued expenses and other liabilities(68,387)173,346
Net cash provided from operating activities19,418 92,485
Cash flows from investing activities:
Proceeds from sales of investment securities available-for-sale0 86,434
Proceeds from maturities, calls, and principal repayments of investment securities available-for-sale46,184 25,530
Purchases of investment securities available-for-sale(49,514)(273,252)
Proceeds from maturities, calls, and principal repayments of investment securities held to maturity0 6,302
Proceeds from redemption/sales of restricted equity securities9,386 2,944
Purchase of restricted equity securities0 (17,598)
Proceeds from sales of loans and leases held-for-investment, net50 5,800
Net increase in loans and leases(995)(96,414)
Purchase of premises and equipment, net(2,347)(1,071)
Proceeds from sales of OREO and other repossessed assets385 1,972
Net cash provided from (used for) investing activities3,149 (259,353)
Cash flows from financing activities:
Increase in demand checking, NOW, savings and money market accounts296,341 57,871
(Decrease) increase in certificates of deposit(340,207)2,333
Proceeds from FHLBB advances63,300 1,736,600
Repayment of FHLBB advances(333,503)(1,357,638)
(Decrease) increase in other borrowed funds, net(4,078)10,054
Increase in mortgagors' escrow accounts, net582 209
Repurchases of common stock0 (10,410)
Payment of dividends on common stock(8,992)(9,173)
Net cash (used for) provided from financing activities(326,557)429,846
Net (decrease) increase in cash and cash equivalents(303,990)262,978
Cash and cash equivalents at beginning of period434,917 77,790
Cash and cash equivalents at end of period130,927 340,768
Cash paid during the period for:
Interest on deposits, borrowed funds and subordinated debt11,007 23,227
Income taxes2,212 2,070
Non-cash investing activities:
Transfer from loans to other real estate owned $ 382 $ 1,733

Basis of Presentation

Basis of Presentation3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of PresentationBasis of Presentation Overview Brookline Bancorp, Inc. (the "Company") is a bank holding company (within the meaning of the Bank Holding Company Act of 1956, as amended) and the parent of Brookline Bank, a Massachusetts-chartered trust company and Bank Rhode Island ("BankRI"), a Rhode Island-chartered financial institution (collectively referred to as the "Banks"). The Banks are both members of the Federal Reserve System. The Company is also the parent of Brookline Securities Corp. ("BSC"). The Company's primary business is to provide commercial, business and retail banking services to its corporate, municipal and retail customers through the Banks and its non-bank subsidiaries. Brookline Bank, which includes its wholly-owned subsidiaries Longwood Securities Corp. ("LSC"), Eastern Funding LLC ("Eastern Funding") and First Ipswich Insurance Agency, operates 30 full-service banking offices in the greater Boston metropolitan area with two additional lending offices. BankRI, which includes its wholly-owned subsidiaries, Acorn Insurance Agency, BRI Realty Corp., Macrolease Corporation ("Macrolease"), BRI Investment Corp. and its wholly-owned subsidiary, BRI MSC Corp., operates 20 full-service banking offices in the greater Providence, Rhode Island area. The Banks' activities include acceptance of commercial, municipal and retail deposits, origination of mortgage loans on commercial and residential real estate located principally in New England, origination of commercial loans and leases to small- and mid-sized businesses, investment in debt and equity securities, and the offering of cash management and investment advisory services. The Company also provides specialty equipment financing through its subsidiaries Eastern Funding, which is based in New York City, New York, and Macrolease, which is based in Plainview, New York, respectively. The Company and the Banks are supervised, examined and regulated by the Board of Governors of the Federal Reserve System (the "FRB"). As a Massachusetts-chartered trust company, Brookline Bank is also subject to regulation under the laws of the Commonwealth of Massachusetts and the jurisdiction of the Massachusetts Division of Banks (the "DOB"). As a Rhode Island-chartered financial institution, BankRI is subject to regulation under the laws of the State of Rhode Island and the jurisdiction of the Banking Division of the Rhode Island Department of Business Regulation. The Federal Deposit Insurance Corporation ("FDIC") offers insurance coverage on all deposits up to $250,000 per depositor at each of the Banks. As FDIC-insured depository institutions, the Banks are also subject to supervision, examination and regulation by the FDIC. As previously disclosed, on July 31, 2019, Brookline Bank converted its charter from a Massachusetts savings bank to a Massachusetts-chartered trust company and ended its membership in the Depositors Insurance Fund (the “DIF”), a private industry-sponsored fund which insures Massachusetts-chartered savings bank deposit balances in excess of federal deposit insurance coverage. Brookline Bank’s growth in deposit size necessitated it's withdrawal from the DIF and the concurrent charter conversion of Brookline Bank. Brookline Bank’s deposit accounts are and will continue to be insured by the deposit insurance fund of the FDIC up to applicable limits. Term deposits in excess of the FDIC insurance coverage will continue to be insured by the DIF until they reach maturity. Basis of Financial Statement Presentation The unaudited consolidated financial statements of the Company presented herein have been prepared pursuant to the rules of the SEC for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying consolidated financial statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances are eliminated in consolidation. In preparing these consolidated financial statements, management is required to make significant estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosure of contingent assets and liabilities. Actual results could differ from those estimates based upon changing conditions, including economic conditions and future events. Material estimates that are particularly susceptible to significant changes in the near-term include the determination of the allowance for credit losses, the determination of fair market values of assets and liabilities, the review of goodwill and intangible assets for impairment and the review of deferred tax assets for valuation allowances. The judgments used by management in applying these critical accounting policies may be affected by a further and prolonged deterioration in the economic environment, which may result in changes to future financial results. For example, subsequent evaluations of the loan and lease portfolio, in light of the factors then prevailing, may result in significant changes in the allowance for loan and lease losses in future periods, and the inability to collect outstanding principal may result in increased loan and lease losses. Reclassification Certain previously reported amounts have been reclassified to conform to the current year's presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting PronouncementsRecent Accounting Pronouncements Accounting Standards Adopted in 2021 and 2020 In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaced the previous GAAP method of calculating credit losses. Previously, GAAP required the use of the incurred loss methodology, which used a higher threshold at which probable losses were calculated and recorded. ASU 2016-13 requires the use of an expected loss methodology, referred to as the current expected credit loss (“CECL”) methodology, which requires institutions to account for lifetime expected losses that previously would not have been part of the calculation. The CECL methodology incorporates future forecasting in addition to historical and current measures. The Company adopted all of the above mentioned ASU as of January 1, 2020. The standard had an impact on our consolidated balance sheet. On adoption, the Company recognized an increase in the allowance for loan and lease losses of $6.6 million, and an increase in the reserve for unfunded commitments of $8.9 million. The net, after-tax impact of the increase in the allowance for loan and lease losses and reserve for unfunded commitments was a decrease to retained earnings of $11.5 million shown in the Consolidated Statements of Changes in Stockholders’ Equity. Additional details can be found in Notes 3, 4 and 5.

Investment Securities

Investment Securities3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment SecuritiesInvestment Securities Adoption of Topic 326 Effective January 1, 2020, the Company adopted the provisions of ASU 2016-13 using the modified retrospective method. There was a de minimis allowance for credit loss ("ACL") on available-for-sale debt securities recognized upon adoption and as of December 31, 2020. The following tables set forth investment securities available-for-sale, held-to-maturity and equity securities held-for-trading at the dates indicate d: At March 31, 2021 Amortized Gross Gross Estimated (In Thousands) Investment securities available-for-sale: GSE debentures $ 273,315 $ 4,130 $ 5,919 $ 271,526 GSE CMOs 39,980 957 12 40,925 GSE MBSs 271,231 5,981 1,146 276,066 Corporate debt obligations 22,269 978 — 23,247 U.S. Treasury bonds 119,817 1,586 3,762 117,641 Foreign government obligations 500 — 4 496 Total investment securities available-for-sale $ 727,112 $ 13,632 $ 10,843 $ 729,901 Equity securities held-for-trading $ 518 December 31, 2020 Amortized Gross Gross Estimated (In Thousands) Investment securities available-for-sale: GSE debentures $ 273,820 $ 5,455 $ 630 $ 278,645 GSE CMOs 44,937 1,103 12 46,028 GSE MBSs 312,658 10,956 5 323,609 Corporate debt obligations 22,299 1,168 — 23,467 U.S. Treasury bonds 70,339 3,318 80 73,577 Foreign government obligations 500 — 4 496 Total investment securities available-for-sale $ 724,553 $ 22,000 $ 731 $ 745,822 Equity securities held-for-trading $ 526 As of March 31, 2021, the fair value of all investment securities available-for-sale was $729.9 million, with net unrealized gains of $2.8 million, compared to a fair value of $745.8 million and net unrealized gains of $21.3 million as of December 31, 2020. As of March 31, 2021, $261.6 million, or 35.8% of the portfolio, had gross unrealized losses of $10.8 million, compared to $86.9 million, or 11.7% of the portfolio, with gross unrealized losses of $0.7 million as of December 31, 2020. Effective March 31, 2020, all investment securities classified as held-to-maturity were reclassified as available for sale to prudently reflect the ability and intent to not hold these assets to maturity due to the economic uncertainty created by the COVID-19 pandemic. As of March 31, 2021 and December 31, 2020, the Company recorded a fair value of $0.5 million of equity securities held-for-trading. Investment Securities as Collateral As of March 31, 2021 and December 31, 2020, respectively, $413.5 million and $448.7 million of investment securities were pledged as collateral for repurchase agreements; municipal deposits; treasury, tax and loan deposits; swap agreements; FRB borrowings; and Federal Home Loan Bank of Boston ("FHLBB") borrowings. The Banks had no outstanding FRB borrowings as of March 31, 2021 and December 31, 2020. Allowance for Credit Losses-Available-for-Sale Securities For available-for-sale securities in an unrealized loss position, management first assesses whether (i) the Company intends to sell the security, or (ii) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either criterion is met, any previously recognized allowances are charged-off and the security's amortized cost is written down to fair value through income. If neither criterion is met, the security is evaluated to determine whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency and any adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, an allowance for credit loss is recorded, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in other comprehensive income. Adjustments to the allowance are reported as a component of credit loss expense. Available-for-sale securities are charged-off against the allowance or, in the absence of any allowance, written down through income when deemed uncollectible or when either of the aforementioned criteria regarding intent or requirement to sell is met. The Company has made the accounting policy election to exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses. Accrued interest receivables associated with debt securities available-for-sale totaled $2.5 million and $2.6 million, respectively, as of March 31, 2021 and December 31, 2020. A debt security is placed on nonaccrual status at the time any principal or interest payments become more than 90 days delinquent or if full collection of interest or principal becomes uncertain. Accrued interest for a debt security placed on nonaccrual is reversed against interest income. There were no debt securities on nonaccrual status and therefore there was no accrued interest related to debt securities reversed against interest income for the three months ended March 31, 2021 and 2020. Assessment for Available for Sale Securities for Impairment Investment securities as of March 31, 2021 and December 31, 2020 that have been in a continuous unrealized loss position for less than twelve months or twelve months or longer are as follows: At March 31, 2021 Less than Twelve Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In Thousands) Investment securities available-for-sale: GSE debentures $ 118,064 $ 5,919 $ — $ — $ 118,064 $ 5,919 GSE CMOs 513 10 707 2 1,220 12 GSE MBSs 70,289 1,145 95 1 70,384 1,146 U.S. Treasury bonds 71,450 3,762 — — 71,450 3,762 Foreign government obligations — — 496 4 496 4 Temporarily impaired investment securities available-for-sale 260,316 10,836 1,298 7 261,614 10,843 Total temporarily impaired investment securities $ 260,316 $ 10,836 $ 1,298 $ 7 $ 261,614 $ 10,843 At December 31, 2020 Less than Twelve Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In Thousands) Investment securities available-for-sale: GSE debentures $ 72,745 $ 630 $ — $ — $ 72,745 $ 630 GSE CMOs 832 7 872 5 1,704 12 GSE MBSs 2,102 5 97 — 2,199 5 U.S. Treasury bonds 9,750 80 — — 9,750 80 Foreign government obligations — — 496 4 496 4 Temporarily impaired investment securities available-for-sale 85,429 722 1,465 9 86,894 731 Total temporarily impaired investment securities $ 85,429 $ 722 $ 1,465 $ 9 $ 86,894 $ 731 The Company performs regular analyses of the investment securities available-for-sale portfolio to determine whether a decline in fair value indicates that an investment security is impaired. In making these impairment determinations, management considers, among other factors, projected future cash flows; credit subordination and the creditworthiness; capital adequacy and near-term prospects of the issuers. Management also considers the Company's capital adequacy, interest-rate risk, liquidity and business plans in assessing whether it is more likely than not that the Company will sell or be required to sell the investment securities before recovery. If the Company determines that a security investment is impaired and that it is more likely than not that the Company will not sell or be required to sell the investment security before recovery of its amortized cost, the credit portion of the impairment loss is recognized in the Company's consolidated statement of income and the noncredit portion is recognized in accumulated other comprehensive income. The credit portion of the impairment represents the difference between the amortized cost and the present value of the expected future cash flows of the investment security. If the Company determines that a security is impaired and it is more likely than not that it will sell or be required to sell the investment security before recovery of its amortized cost, the entire difference between the amortized cost and the fair value of the security will be recognized in the Company's consolidated statement of income. Investment Securities Available-For-Sale Impairment Analysis The following discussion summarizes, by investment security type, the basis for evaluating if the applicable investment securities within the Company’s available-for-sale portfolio were impaired as of March 31, 2021.The Company has determined it is more likely than not that the Company will not sell or be required to sell the investment securities before recovery of its amortized cost. The Company's ability and intent to hold these investment securities until recovery is supported by the Company's strong capital and liquidity positions as well as its historically low portfolio turnover. As such, management has determined that the investment securities are not impaired as of March 31, 2021. If market conditions for investment securities worsen or the creditworthiness of the underlying issuers deteriorates, it is possible that the Company may recognize additional impairment in future periods. U.S. Government-Sponsored Enterprises The Company invests in securities issued by U.S. Government-sponsored enterprises ("GSEs"), including GSE debentures, mortgage-backed securities ("MBSs"), and collateralized mortgage obligations ("CMOs"). GSE securities include obligations issued by the Federal National Mortgage Association ("FNMA"), the Federal Home Loan Mortgage Corporation ("FHLMC"), the Government National Mortgage Association ("GNMA"), the FHLBB and the Federal Farm Credit Bank. As of March 31, 2021, the Company held GNMA MBSs and CMOs, and Small Business Administration ("SBA") commercial loan asset-backed securities in its available-for-sale portfolio with an estimated fair value of $6.3 million, all of which were backed explicitly by the full faith and credit of the U.S. Government, compared to $7.3 million as of December 31, 2020. As of March 31, 2021, the Company owned 54 GSE debentures with a total fair value of $271.5 million, and a net unrealized loss of $1.8 million. As of December 31, 2020, the Company held 54 GSE debentures with a total fair value of $278.6 million, with a net unrealized gain of $4.8 million. As of March 31, 2021, 12 of the 54 securities in this portfolio were in an unrealized loss position. As of December 31, 2020, 7 of the 54 securities in this portfolio were in an unrealized loss position. All securities are performing and backed by the implicit (FHLB/FNMA/FHLMC) or explicit (GNMA/SBA) guarantee of the U.S Government. During the three months ended March 31, 2021, the Company did not purchase GSE debentures. This compares to the same period in 2020 when the Company purchased $75.2 million GSE debentures. During the three months ended March 31, 2020, the Company transferred 9 held-to-maturity GSE debentures with a total fair value of $25.5 million to the available-for-sale portfolio. As of March 31, 2021, the Company owned 33 GSE CMOs with a total fair value of $40.9 million and a net unrealized gain of $0.9 million. As of December 31, 2020, the Company held 33 GSE CMOs with a total fair value of $46.0 million with a net unrealized gain of $1.1 million. As of March 31, 2021, 2 of the 33 securities in this portfolio were in an unrealized loss position. As of December 31, 2020, 2 of the 33 securities in this portfolio were in an unrealized loss position. All securities are performing and backed by the implicit (FHLB/FNMA/FHLMC) or explicit (GNMA) guarantee of the U.S Government. During the three months ended March 31, 2021 and 2020, the Company did not purchase any GSE CMOs. As of March 31, 2021, the Company owned 139 GSE MBSs with a total fair value of $276.1 million and a net unrealized gain of $4.8 million. As of December 31, 2020, the Company held 140 GSE MBSs with a total fair value of $323.6 million with a net unrealized gain of $11.0 million. As of March 31, 2021, 23 of the 139 securities in this portfolio were in an unrealized loss position. As of December 31, 2020, 17 of the 140 securities in this portfolio were in an unrealized loss position. All securities are performing and backed by the implicit (FHLB/FNMA/FHLMC) or explicit (GNMA) guarantee of the U.S Government. During the three months ended March 31, 2021, the Company did not purchase any GSE MBSs. This compares to the same period in 2020 when the Company purchased $176.9 million GSE MBSs. During the three months ended March 31, 2020, the Company transferred 8 held-to-maturity GSE MBSs with a total fair value of $9.0 million to the available-for-sale portfolio. Corporate Obligations The Company may invest in high-quality corporate obligations to provide portfolio diversification and improve the overall yield on the portfolio. As of March 31, 2021, the Company held 6 corporate obligation securities with a total fair value of $23.2 million and a net unrealized gain of $1.0 million. As of December 31, 2020, the Company held 6 corporate obligation securities with a total fair value of $23.5 million and a net unrealized gain of $1.2 million. As of March 31, 2021 and December 31, 2020, none of the securities in this portfolio were in an unrealized loss position. Full collection of the obligations is expected because the financial condition of the issuers is sound, they have not defaulted on scheduled payments, the obligations are rated investment grade, and the Company has the ability and intent to hold the obligations for a period of time to recover the amortized cost. During the three months ended March 31, 2021 and 2020, the Company did not purchase any corporate obligations. During the three months ended March 31, 2020, the Company transferred 1 held-to-maturity corporate obligation security with a total fair value of $0.5 million to the available-for-sale portfolio. U.S. Treasury Bonds The Company invests in securities issued by the U.S. government. As of March 31, 2021, the Company owned 17 U.S. Treasury bonds with a total fair value of $117.6 million and an unrealized loss of $2.2 million. This compares to 12 U.S. Treasury bonds with a total fair value of $73.6 million and an unrealized gain of $3.2 million as of December 31, 2020. As of March 31, 2021, 8 of the 17 securities in this portfolio were in an unrealized loss position. As of December 31, 2020, 1 of the 12 securities in this portfolio was an unrealized loss position. During the three months ended March 31, 2021 the Company purchased $49.5 million U.S. Treasury bonds, compared to the same period in 2020 when the Company purchased $21.2 million U.S. Treasury bonds. Municipal Obligations As of March 31, 2021 and December 31, 2020, the Company did not own any municipal obligation securities. During the three months March 31, 2021 and 2020, the Company did not purchase any municipal obligations. During the three months ended March 31, 2020, the Company transferred 93 held-to-maturity municipal obligations securities with a total fair value of $47.7 million to our available-for-sale portfolio. Foreign Government Obligations As of March 31, 2021 and December 31, 2020, the Company owned 1 foreign government obligation security with a fair value of $0.5 million, which approximated cost. As of March 31, 2021 and December 31, 2020 respectively, the security was in an unrealized loss position. During the three months ended March 31, 2021 and 2020, the Company did not purchase any foreign government obligations. Equity Securities Held-for-Trading From time to time, the Company will invest in equity securities held-for-trading. As of March 31, 2021 and December 31, 2020, the Company owned equity securities held-for-trading with a fair value of $0.5 million. Portfolio Maturities The final stated maturities of the debt securities are as follows for the periods indicated: At March 31, 2021 At December 31, 2020 Amortized Estimated Weighted Amortized Estimated Weighted (Dollars in Thousands) Investment securities available-for-sale: Within 1 year $ 49,597 $ 50,149 1.99 % $ 31,633 $ 32,013 2.02 % After 1 year through 5 years 132,676 138,463 2.23 % 146,274 153,262 2.22 % After 5 years through 10 years 261,816 254,174 1.38 % 222,271 225,568 1.43 % Over 10 years 283,023 287,115 2.01 % 324,375 334,979 1.86 % $ 727,112 $ 729,901 1.84 % $ 724,553 $ 745,822 1.81 % Actual maturities of debt securities will differ from those presented above since certain obligations amortize and may also provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. MBSs and CMOs are included above based on their final stated maturities; the actual maturities, however, may occur earlier due to anticipated prepayments and stated amortization of cash flows. As of March 31, 2021, issuers of debt securities with an estimated fair value of $88.3 million had the right to call or prepay the obligations. Of the $88.3 million, approximately $12.7 million matures in 1 - 5 years, $66.2 million matures in 6 - 10 years, and $9.4 million matures after ten years. As of December 31, 2020, issuers of debt securities with an estimated fair value of approximately $90.8 million had the right to call or prepay the obligations. Of the $90.8 million, $12.9 million matures in 1-5 years, and $68.1 million matures in 6 - 10 years, and $9.8 million matures after ten years. Security Sales No sale of investment securities available-for-sale or equity securities held-for-trading occurred during the three months ended March 31, 2021. This compares to $86.4 million securities sold during the three months ended March 31, 2020. Sales of investment and restricted equity securities are summarized as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) Proceeds from sales of investment securities available-for-sale and equity securities held-for-trading $ — $ 86,435 Gross gains from securities sales — 2,446 Gross losses from securities sales — (93) Gain on sales of securities, net $ — $ 2,353

Loans and Leases

Loans and Leases3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Loans and LeasesLoans and Leases The following table presents the amortized cost of loans and leases and weighted average coupon rates for the loan and lease portfolios at the dates indicated: At March 31, 2021 At December 31, 2020 Balance Weighted Balance Weighted (Dollars In Thousands) Commercial real estate loans: Commercial real estate $ 2,595,240 3.48 % $ 2,578,773 3.58 % Multi-family mortgage 1,000,474 3.48 % 1,013,432 3.53 % Construction 194,627 3.60 % 231,621 3.49 % Total commercial real estate loans 3,790,341 3.49 % 3,823,826 3.56 % Commercial loans and leases: Commercial 1 1,206,977 2.35 % 1,131,668 2.55 % Equipment financing 1,069,621 7.17 % 1,092,461 7.26 % Condominium association 47,604 4.54 % 50,770 4.55 % Total commercial loans and leases 2,324,202 4.61 % 2,274,899 4.86 % Consumer loans: Residential mortgage 781,854 3.68 % 791,317 3.74 % Home equity 334,706 3.25 % 346,652 3.26 % Other consumer 36,449 2.92 % 32,859 3.04 % Total consumer loans 1,153,009 3.53 % 1,170,828 3.58 % Total loans and leases $ 7,267,552 3.84 % $ 7,269,553 3.97 % ______________________________________________________________________ (1) Including $604,790 of PPP loans as of March 31, 2021. These loans are fully guaranteed by the SBA and therefore, have not been reserved for in the allowance for credit losses as of March 31, 2021. Accrued interest on loans and leases, which were excluded from the amortized cost of loans and leases totaled $21.0 million and $20.5 million at March 31, 2021 and December 31, 2020, respectively, and were included in other assets in the accompanying consolidated balance sheets. The net unamortized deferred loan origination costs included in total loans and leases were $5.6 million and $4.1 million as of March 31, 2021 and December 31, 2020, respectively. The Banks and their subsidiaries lend primarily in all New England states, with the exception of equipment financing, 12.7% of which is in the greater New York and New Jersey metropolitan area and 87.3% of which is in other areas in the United States of America as of March 31, 2021. Loans and Leases Pledged as Collateral

Allowance for Loan and Lease Lo

Allowance for Loan and Lease Losses3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Allowance for Loan and Lease LossesAllowance for Loan and Lease Losses The following tables present the changes in the allowance for loan and lease losses in loans and leases by portfolio segment for the periods indicated: Three Months Ended March 31, 2021 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2020 $ 80,132 $ 29,498 $ 4,749 $ 114,379 Charge-offs — (2,140) (3) (2,143) Recoveries — 331 52 383 (Credit) provision for loan and lease losses excluding unfunded commitments (203) (1,864) (715) (2,782) Balance at March 31, 2021 $ 79,929 $ 25,825 $ 4,083 $ 109,837 Three Months Ended March 31, 2020 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2019 $ 30,285 $ 24,826 $ 5,971 $ 61,082 Adoption of ASU 2016-13 (CECL) 11,694 (2,672) (2,390) 6,632 Charge-offs — (2,527) (12) (2,539) Recoveries — 247 58 305 Provision for loan and lease losses 40,200 6,900 601 47,701 Balance at March 31, 2020 $ 82,179 $ 26,774 $ 4,228 $ 113,181 The allowance for credit losses for unfunded credit commitments, which is included in other liabilities, was $13.7 million and $13.1 million at March 31, 2021 and December 31, 2020, respectively. Provision for Credit Losses The provisions for credit losses are set forth below for the periods indicated: Three Months Ended March 31, 2021 2020 (In Thousands) Provision for loan and lease losses: Commercial real estate $ (203) $ 40,200 Commercial (1,864) 6,900 Consumer (715) 601 Total (credit) provision for loan and lease losses (2,782) 47,701 Unfunded commitments 635 6,413 Total (credit) provision for credit losses $ (2,147) $ 54,114 Allowance for Loan and Lease Losses Methodology Management has established a methodology to determine the adequacy of the allowance for credit losses that assesses the risks and losses expected on the loan and lease portfolio and unfunded commitments. Additions to the allowance for credit losses are made by charges to the provision for credit losses. Losses on loans and leases are charged off against the allowance when all or a portion of a loan or lease is considered uncollectible. Subsequent recoveries on loans previously charged off, if any, are credited to the allowance when realized. To calculate the allowance for loans collectively evaluated, management uses models developed by a third party. The models include: Commercial real estate ("CRE"), Commercial and industrial ("C&I"), and Retail lifetime loss rate models calculate the expected losses over the life of the loan based on exposure at default loan attributes and reasonable, supportable economic forecasts. The exposure at default considers the current unpaid balance, prepayment assumptions and utilization of expected utilization assumptions. The expected loss estimates for two small commercial portfolios and a runoff auto portfolio are based on historical loss rates. Key assumptions used in the models include portfolio segmentation, prepayments, and the expected utilization of unfunded commitments, among others. The portfolios are segmented by loan level attributes such as loan type, loan size, date of origination, and delinquency status to create homogenous loan pools. Pool level metrics are calculated and loss rates are subsequently applied to the pools as the loans have like characteristics. Prepayment assumptions are embedded within the models and are based on the same data used for model development and incorporate adjustments for reasonable and supportable forecasts. Model development data and developmental time periods vary by model, but all use at least ten years of historical data and capture at least one recessionary period. Expected utilization is based on current utilization and a loan equivalency ("LEQ") factor. LEQ varies by current utilization and provides a reasonable estimate of expected draws and borrower behavior. Assumptions and model inputs are reviewed in accordance with model monitoring practices and as information becomes availa ble . The ACL estimate incorporates reasonable and supportable forecasts of various macro-economic variables over the remaining life of loans and leases. The development of the reasonable and supportable forecast assume each macro-economic variable will revert to long-term expectations, with reversion characteristics unique to specific economic indicators and forecasts. Reversion towards long-term expectations generally begins two to three years from the forecast start date and largely completes within the first five years. Because the reasonable and supportable economic forecasts used in the models are mean reverting, the models are therefore considered to be implicitly mean reverting. Management elected to use multiple economic forecasts in determining the reserve to account for economic uncertainty. The forecasts include various projections of Gross Domestic Product ("GDP"), interest rates, property price indices, and employment measures. Scenario weighting and model parameters are reviewed for each calculation and updated to reflect facts and circumstances as of the financial statement date. The March 31, 2021 forecasts reflect the immediate and longer-term effects of the COVID-19 pandemic as well as the associated policies and fiscal support provided by local and national authorities. The CRE lifetime loss rate, C&I lifetime loss rate, and Retail lifetime loss rate models were developed using the historical loss experience of all banks in the model’s developmental dataset. Banks in the model’s developmental dataset may have different loss experiences due to geography and portfolio as well as variances in operational and underwriting procedures from the Company, and therefore, the Company calibrates expected losses using a scalar for each model. Each scalar was calculated by examining the loss rates of peer banks that have similar operations and asset bases to the Company and comparing these peer group loss rates to the model results. Peer group loss rates were used in the scalar calculation because management believes the peer group’s historical losses provide a better reflection of the Company’s current portfolio and operating procedures than the Company’s historical losses. Qualitative adjustments are also applied to the results of the three loss rate models. For March 31, 2021, management applied qualitative adjustments to the CRE lifetime loss rate, C&I lifetime loss rate, and Retail lifetime loss rate models. These adjustments addressed model limitations, were based on historical loss patterns, and targeted specific risks within the certain portfolios. A general qualitative adjustment was applied to all models to account for general economic uncertainty by placing a greater probability on negative economic forecasts as compared to previous quarters. Additional qualitative adjustments were applied to the Commercial, Multifamily, and commercial real estate (includes owner occupied, non-owner occupied, and construction) portfolios based on the Company’s historical loss experience and the loss experience of the Company’s peer group. High risk segments of the Eastern Funding and Macrolease portfolios also received additional qualitative adjustments based on recent loss history and expected liquidation values. These qualitative adjustments resulted in additions to reserves for all portfolios, as compared to the model output. Specific reserves are established for loans individually evaluated for impairment when amortized cost basis is greater than the discounted present value of expected future cash flows or, in the case of collateral-dependent loans, when there is an excess of a loan's amortized cost basis over the fair value of its underlying collateral. When loans and leases do not share risk characteristics with other financial assets they are evaluated individually. Individually evaluated loans are reviewed quarterly with adjustments made to the calculated reserve as necessary. Beginning January 1, 2020, the Company implemented the CECL methodology to calculate the allowance for credit losses. Prior to January 1, 2020, the Company calculated the allowance for loan and lease losses using the incurred losses methodology. The general allowance for loan and lease losses was $108.7 million as of March 31, 2021, compared to $112.1 million as of December 31, 2020. The reduction in the ACL is attributable to portfolio contraction, continued low level of net charge-offs, an improving macro-economic forecast, and qualitative adjustments that consider longer-term risks. The specific allowance for loan and lease losses was $1.1 million as of March 31, 2021, compared to $2.3 million as of December 31, 2020. The specific allowance decreased by $1.2 million during the three months ended March 31, 2021 primarily due to the payoff of two commercial relationship which had a specific reserve of $0.3 million, one equipment financing relationship which had a specific reserve of $0.1 million, a partial charge off on one equipment financing relationship of $0.7 million and the and the decrease in specific reserves for the remaining individually evaluated loans due to improving collection prospects. As of March 31, 2021, management believes that the methodology for calculating the allowance is sound and that the allowance provides a reasonable basis for determining and reporting on expected losses over the lifetime of the Company’s loan portfolios. Credit Quality Assessment At the time of loan origination, a rating is assigned based on the capacity to pay and general financial strength of the borrower, the value of assets pledged as collateral, and the evaluation of third party support such as a guarantor. The Company continually monitors the credit quality of the loan portfolio using all available information. The officer responsible for handling each loan is required to initiate changes to risk ratings when changes in facts and circumstances occur that warrant an upgrade or downgrade in a loan rating. Based on this information, loans demonstrating certain payment issues or other weaknesses may be categorized as delinquent, adversely risk-rated, nonperforming and/or put on nonaccrual status. Additionally, in the course of resolving such loans, the Company may choose to restructure the contractual terms of certain loans to match the borrower's ability to repay the loan based on their current financial condition. If a restructured loan meets certain criteria, it may be categorized as a troubled debt restructuring ("TDR") loan. The Company reviews numerous credit quality indicators when assessing the risk in its loan portfolio. For all loans, the Company utilizes an eight-grade loan rating system, which assigns a risk rating to each borrower based on a number of quantitative and qualitative factors associated with a loan transaction. Factors considered include industry and market conditions; position within the industry; earnings trends; operating cash flow; asset/liability values; debt capacity; guarantor strength; management and controls; financial reporting; collateral; and other considerations. In addition, the Company's independent loan review group evaluates the credit quality and related risk ratings in all loan portfolios. The results of these reviews are reported to the Risk Committee of the Board of Directors on a periodic basis and annually to the Board of Directors. For the consumer loans, the Company heavily relies on payment status for calibrating credit risk. The ratings categories used for assessing credit risk in the commercial real estate, multi-family mortgage, construction, commercial, equipment financing, condominium association and other consumer loan and lease classes are defined as follows: 1 -4 Rating—Pass Loan rating grades "1" through "4" are classified as "Pass," which indicates borrowers are performing in accordance with the terms of the loan and are less likely to result in loss due to the capacity of the borrower to pay and the adequacy of the value of assets pledged as collateral. 5 Rating—Other Assets Especially Mentioned ("OAEM") Borrowers exhibit potential credit weaknesses or downward trends deserving management's attention. If not checked or corrected, these trends will weaken the Company's asset and position. While potentially weak, currently these borrowers are marginally acceptable; no loss of principal or interest is envisioned. 6 Rating—Substandard Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt. Substandard loans may be inadequately protected by the current net worth and paying capacity of the obligors or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy. Although no loss of principal is envisioned, there is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Collateral coverage may be inadequate to cover the principal obligation. 7 Rating—Doubtful Borrowers exhibit well-defined weaknesses that jeopardize the orderly liquidation of debt with the added provision that the weaknesses make collection of the debt in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Serious problems exist to the point where partial loss of principal is likely. 8 Rating—Definite Loss Borrowers deemed incapable of repayment. Loans to such borrowers are considered uncollectible and of such little value that continuation as active assets of the Company is not warranted. Assets rated as "OAEM," "substandard" or "doubtful" based on criteria established under banking regulations are collectively referred to as "criticized" assets. Credit Quality Information The following table presents the amortized cost basis of loans in each class by credit quality indicator and year of origination as of March 31, 2021. March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 80,520 $ 357,115 $ 366,961 $ 283,214 $ 252,971 $ 1,115,585 $ 55,390 $ 12,645 $ 2,524,401 OAEM 693 736 27,369 — — 35,014 — — 63,812 Substandard — 210 — — 1,617 5,139 — 61 7,027 Total 81,213 358,061 394,330 283,214 254,588 1,155,738 55,390 12,706 2,595,240 Multi-Family Mortgage Pass 14,673 124,227 145,143 165,079 99,440 416,861 5,218 27,457 998,098 OAEM — — — — — 2,376 — — 2,376 Total 14,673 124,227 145,143 165,079 99,440 419,237 5,218 27,457 1,000,474 Construction Pass 2,272 46,896 46,555 85,292 665 632 4,697 — 187,009 Substandard — — 4,853 — — 2,765 7,618 Total 2,272 46,896 51,408 85,292 665 3,397 4,697 — 194,627 Commercial March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 237,440 451,623 55,419 37,516 35,407 129,638 226,438 1,716 1,175,197 OAEM — 1,589 4,436 — 16,242 12 1,840 — 24,119 Substandard — — — 118 345 2,902 3,716 578 7,659 Doubtful — — — — — — — 2 2 Total 237,440 453,212 59,855 37,634 51,994 132,552 231,994 2,296 1,206,977 Equipment Financing Pass 65,631 318,891 286,098 186,109 105,056 86,647 1,868 556 1,050,856 OAEM — 196 1,058 293 96 709 — — 2,352 Substandard — 1,000 2,787 5,224 3,678 2,529 — — 15,218 Doubtful — 1 450 65 27 652 — — 1,195 Total 65,631 320,088 290,393 191,691 108,857 90,537 1,868 556 1,069,621 Condominium Association Pass 187 7,409 9,206 5,194 7,385 16,769 1,172 176 47,498 Substandard — — — — — 106 — — 106 Total 187 7,409 9,206 5,194 7,385 16,875 1,172 176 47,604 Other Consumer Pass 35 852 523 1,827 31 869 32,295 15 36,447 Substandard — — — — — 1 — 1 2 Total 35 852 523 1,827 31 870 32,295 16 36,449 Total Pass 400,758 1,307,013 909,905 764,231 500,955 1,767,001 327,078 42,565 6,019,506 OAEM 693 2,521 32,863 293 16,338 38,111 1,840 — 92,659 Substandard — 1,210 7,640 5,342 5,640 13,442 3,716 640 37,630 Doubtful — 1 450 65 28 652 — 2 1,198 Total $ 401,451 $ 1,310,745 $ 950,858 $ 769,931 $ 522,961 $ 1,819,206 $ 332,634 $ 43,207 $ 6,150,993 As of March 31, 2021, there were no loans categorized as definite loss. For residential mortgage and home equity loans, the borrowers' credit scores contribute as a reserve metric in the retail loss rate model. At March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Residential Credit Scores Over 700 $ 22,650 $ 119,549 $ 89,528 $ 57,286 $ 49,514 $ 162,830 $ 4,002 $ — $ 505,359 661 - 700 3,036 24,134 18,328 10,110 13,852 30,005 — — 99,465 600 and below 682 6,914 4,700 5,053 4,234 16,956 — — 38,539 Data not available* 2,177 17,969 17,003 15,591 13,248 71,181 — 1,322 138,491 Total $ 28,545 $ 168,566 $ 129,559 $ 88,040 $ 80,848 $ 280,972 $ 4,002 $ 1,322 $ 781,854 Home Equity Credit Scores Over 700 $ 553 $ 1,534 $ 2,421 $ 2,249 $ 2,507 $ 12,331 $ 239,483 $ 2,303 $ 263,381 661 - 700 51 118 440 476 260 2,354 44,625 616 48,940 600 and below — 58 106 260 13 550 10,267 1,058 12,312 Data not available* — 68 — — — 1,318 7,719 968 10,073 Total $ 604 $ 1,778 $ 2,967 $ 2,985 $ 2,780 $ 16,553 $ 302,094 $ 4,945 $ 334,706 _______________________________________________________________________________ * Represents loans and leases for which data are not available. The following tables present the recorded investment in loans in each class as of December 31, 2020, by credit quality indicator. December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 352,832 $ 412,071 $ 282,629 $ 255,786 $ 243,477 $ 944,676 $ 55,392 $ 12,585 $ 2,559,448 OAEM — 477 — — 3,312 8,991 — — 12,780 Substandard — — — 1,261 2 5,220 — 62 6,545 Doubtful — — — — — — — — — Total 352,832 412,548 282,629 257,047 246,791 958,887 55,392 12,647 2,578,773 Multi-Family Mortgage Pass 125,434 136,620 162,180 103,997 127,873 304,224 15,845 34,871 1,011,044 OAEM — — — — — 2,388 — — 2,388 Total 125,434 136,620 162,180 103,997 127,873 306,612 15,845 34,871 1,013,432 Construction December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 46,249 56,074 112,856 1,799 2,788 404 3,834 — 224,004 Substandard — 4,853 — — 2,764 — — — 7,617 Total 46,249 60,927 112,856 1,799 5,552 404 3,834 — 231,621 Commercial Pass 574,542 66,278 41,325 62,112 22,085 113,715 226,495 1,687 1,108,239 OAEM 310 4,850 — — 35 17 5,382 — 10,594 Substandard 80 — 129 389 29 7,612 3,930 664 12,833 Doubtful — — — — — — — 2 2 Total 574,932 71,128 41,454 62,501 22,149 121,344 235,807 2,353 1,131,668 Equipment Financing Pass 332,375 306,231 209,219 121,845 56,241 45,451 636 576 1,072,574 OAEM 196 1,066 290 93 609 85 — 2,339 Substandard 402 4,385 5,280 3,545 1,891 631 — — 16,134 Doubtful 1 64 24 27 1,292 6 — — 1,414 Total 332,974 311,746 214,813 125,510 60,033 46,173 636 576 1,092,461 Condominium Association Pass 6,455 9,918 5,399 7,928 5,213 12,682 2,684 379 50,658 Substandard — — — — 112 — — — 112 Total 6,455 9,918 5,399 7,928 5,325 12,682 2,684 379 50,770 Other Consumer Pass 694 549 1,938 32 570 301 28,755 18 32,857 Substandard — — — — — — — 2 2 Total 694 549 1,938 32 570 301 28,755 20 32,859 Total Pass 1,438,581 987,741 815,546 553,499 458,247 1,421,453 333,641 50,116 6,058,824 OAEM 506 6,393 290 93 3,956 11,481 5,382 — 28,101 Substandard 482 9,238 5,409 5,195 4,798 13,463 3,930 728 43,243 Doubtful 1 64 24 27 1,292 6 — 2 1,416 Total $ 1,439,570 $ 1,003,436 $ 821,269 $ 558,814 $ 468,293 $ 1,446,403 $ 342,953 $ 50,846 $ 6,131,584 As of December 31, 2020, there were no loans categorized as definite loss. At December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Converted Total (In Thousands) Residential Credit Scores Over 700 $ 119,566 $ 94,300 $ 62,452 $ 53,662 $ 47,327 $ 124,999 $ 4,442 $ — $ 506,748 661 - 700 21,820 19,426 10,943 15,616 8,132 23,282 — — 99,219 600 and below 6,901 5,659 4,763 4,318 4,553 13,997 — — 40,191 Data not available* 19,209 17,082 16,199 14,153 5,729 71,456 — 1,331 145,159 Total $ 167,496 $ 136,467 $ 94,357 $ 87,749 $ 65,741 $ 233,734 $ 4,442 $ 1,331 $ 791,317 Home Equity Credit Scores Over 700 $ 1,546 $ 2,832 $ 2,440 $ 2,770 $ 910 $ 12,804 $ 247,538 $ 2,397 $ 273,237 661 - 700 122 459 499 566 305 2,793 45,356 1,334 51,434 600 and below 59 108 266 13 39 541 10,139 878 12,043 Data not available* 61 — — — — 1,387 7,330 1,160 9,938 Total $ 1,788 $ 3,399 $ 3,205 $ 3,349 $ 1,254 $ 17,525 $ 310,363 $ 5,769 $ 346,652 Age Analysis of Past Due Loans and Leases The following table presents an age analysis of the amortized cost basis in loans and leases as of March 31, 2021. At March 31, 2021 Past Due Past 31-60 61-90 Greater Total Current Total Loans Non-accrual Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 5,489 $ 3,946 $ 3,366 $ 12,801 $ 2,582,439 $ 2,595,240 $ — $ 3,611 $ 2,902 Multi-family mortgage 1,141 — — 1,141 999,333 1,000,474 — — — Construction 3,764 — 3,853 7,617 187,010 194,627 — 3,853 3,853 Total commercial real estate loans 10,394 3,946 7,219 21,559 3,768,782 3,790,341 — 7,464 6,755 Commercial loans and leases: Commercial 229 — 1,213 1,442 1,205,535 1,206,977 62 3,161 1,882 Equipment financing 4,010 2,115 9,501 15,626 1,053,995 1,069,621 1,113 15,772 4,260 Condominium association — — — — 47,604 47,604 — 106 106 Total commercial loans and leases 4,239 2,115 10,714 17,068 2,307,134 2,324,202 1,175 19,039 6,248 Consumer loans: Residential mortgage 1,979 459 3,254 5,692 776,162 781,854 — 3,722 3,260 Home equity 1,056 1 531 1,588 333,118 334,706 4 792 557 Other consumer 12 1 1 14 36,435 36,449 — 2 — Total consumer loans 3,047 461 3,786 7,294 1,145,715 1,153,009 4 4,516 3,817 Total loans and leases $ 17,680 $ 6,522 $ 21,719 $ 45,921 $ 7,221,631 $ 7,267,552 $ 1,179 $ 31,019 $ 16,820 There is no interest income recognized on non-accrual loans for the three months ended March 31, 2021. The following tables present an age analysis of the recorded investment in originated and acquired loans and leases as of December 31, 2020. At December 31, 2020 Past Due Loans and Non-accrual 31-60 61-90 Greater Total Current Total Loans Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 18,294 $ 12,402 $ 7,272 $ 37,968 $ 2,540,805 $ 2,578,773 $ 4,722 $ 3,300 $ 2,580 Multi-family mortgage 813 — — 813 1,012,619 1,013,432 — — — Construction — — 7,617 7,617 224,004 231,621 3,764 3,853 3,853 Total commercial real estate loans 19,107 12,402 14,889 46,398 3,777,428 3,823,826 8,486 7,153 6,433 Commercial loans and leases: Commercial 451 304 9,171 9,926 1,121,742 1,131,668 3,486 7,702 6,263 Equipment financing 5,970 2,263 9,391 17,624 1,074,837 1,092,461 — 16,757 4,062 Condominium association 282 297 — 579 50,191 50,770 — 112 112 Total commercial loans and leases 6,703 2,864 18,562 28,129 2,246,770 2,274,899 3,486 24,571 10,437 Consumer loans: Residential mortgage 2,161 648 3,841 6,650 784,667 791,317 — 5,587 5,117 Home equity 580 215 588 1,383 345,269 346,652 3 1,136 824 Other consumer 13 — 1 14 32,845 32,859 — 1 — Total consumer loans 2,754 863 4,430 8,047 1,162,781 1,170,828 3 6,724 5,941 Total loans and leases $ 28,564 $ 16,129 $ 37,881 $ 82,574 $ 7,186,979 $ 7,269,553 $ 11,975 $ 38,448 $ 22,811 Impaired Loans and Leases A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. The loans and leases risk-rated "substandard" or worse are considered impaired. The Company has also defined the population of impaired loans to include nonaccrual loans and TDR loans. Impaired loans and leases which do not share similar risk characteristics with other loans are individually evaluated for credit losses. Specific reserves are established for loans and leases with deterioration in the present value of expected future cash flows or, in the case of collateral-dependent loans and leases, any increase in the loan or lease amortized cost basis over the fair value of the underlying collateral discounted for estimated selling costs. In contrast, the loans and leases which share similar risk characteristics and are not included in the individually evaluated population are collectively evaluated for credit losses. The following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated. Periods prior to January 1, 2020 are presented in accordance with accounting rules effective at that time. At March 31, 2021 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 132 $ 907 $ 94 $ 1,133 Collectively evaluated 79,797 24,918 3,989 108,704 Total $ 79,929 $ 25,825 $ 4,083 $ 109,837 Loans and Leases: Individually evaluated $ 14,927 $ 20,198 $ 6,414 $ 41,539 Collectively evaluated 3,775,414 2,304,004 1,146,595 7,226,013 Total $ 3,790,341 $ 2,324,202 $ 1,153,009 $ 7,267,552 At December 31, 2020 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 183 $ 2,020 $ 108 $ 2,311 Collectively evaluated 79,949 27,478 4,641 112,068 Total loans and leases $ 80,132 $ 29,498 $ 4,749 $ 114,379 Loans and Leases: Individually evaluated $ 14,159 $ 24,727 $ 8,760 $ 47,646 Collectively evaluated 3,809,667 2,250,172 1,162,068 7,221,907 Total loans and leases $ 3,823,826 $ 2,274,899 $ 1,170,828 $ 7,269,553 Troubled Debt Restructuring Loans and Leases The following table sets forth information regarding TDR loans and leases at the dates indicated: At March 31, 2021 At December 31, 2020 (In Thousands) Troubled debt restructurings: On accrual $ 16,770 $ 11,483 On nonaccrual 6,293 7,476 Total troubled debt restructurings $ 23,063 $ 18,959 Total TDR loans and leases increased by $4.1 million to $23.1 million at March 31, 2021 from $19.0 million at December 31, 2020, primarily driven by two new TDR relationships, consisting of one $3.7 million construction relationship and one $1.3 million equipment financing relationship, partially offset by the payoff of one TDR relationship during the three months ended March 31, 2021. The amortized cost basis in TDR loans and the associated specific credit losses for the loan and lease portfolios, that were modified during the periods indicated, are as follows. At and for the Three Months Ended March 31, 2021 Amortized Cost Specific Defaulted (1) Number of At At End of Nonaccrual Number of Amortized Cost (Dollars in Thousands) Commercial real estate 1 $ 497 $ 497 — — — — Construction 4 2,764 2,764 Equipment financing 12 1,718 1,731 — 234 — — Total loans and leases 17 $ 4,979 $ 4,992 $ — $ 234 $ — $ — ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated. At and for the Three Months Ended March 31, 2020 Recorded Investment Specific Defaulted (1) Number of At At End of Nonaccrual Number of Recorded (Dollars in Thousands) Commercial real estate — — — — 1 228 Commercial 1 297 295 — 295 — — Equipment financing 2 200 200 — — — — Total loans and leases 3 $ 497 $ 495 $ — $ 295 1 $ 228 ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated. The following table sets forth the Company's end-of-period amortized cost basis for TDRs that were modified during the periods indicated, by type of modification. Three Months Ended March 31, 2021 2020 (In Thousands) Extended maturity $ 4,300 $ 295 Combination maturity, principal, interest rate 693 200 Total $ 4,993 $ 495 The TDR loans and leases that were modified for the three months ended March 31, 2021 and 2020 were $5.0 million and $0.5 million, respectively. The increases in TDR loans and leases that were modified for the three months ended March 31, 2021 were primarily due to the modification of two construction relationships totaling $2.7 million and five equipment finance relationships totaling $1.7 million during the three months ended March 31, 2020. The net charge-offs for performing and nonperforming TDR loans and leases for the three months ended March 31, 2021 and 2020 were $0.6 million and $0.1 million, respectively. The commitments to lend funds to debtors owing receivables whose terms had been modified in TDRs as of March 31, 2021 was $2.1 million. As of March 31, 2020, there were $2.3 million commitments to lend funds to debtors owing receivables whose terms had been modified in TDRs. The Coronavirus Aid, Relief and Economic Security ("CARES") Act and regulatory guidance issued by the Federal banking agencies provides that certain short-term loan modifications to borrowers experiencing financial distress as a result of the economic impacts created by the COVID-19 pandemic are not required to be treated as TDRs under GAAP. As such, the Company suspended TDR accounting for COVID-19 pandemic related loan modifications meeting the loan modification criteria set forth under the CARES Act or as specified in the regulatory guidance. Further, loans granted payment deferrals related to the COVID-19 pandemic are not required to be reported as past due or placed on non-accrual status (provided the loans were not past due or on non-accrual status prior to the deferral). As of March 31, 2021, the Company granted 4,603 short-term deferments on loan and lease balances of $1.1 billion of which 4,262 loans and leases representing balances $955.6 million returned to payment and 341 loans and leases representing balances of $125.7 million remain in deferment. The outstanding deferred loans and leases represent 1.7% of the Company's total loan and lease balances.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible AssetsGoodwill and Other Intangible Assets The following table sets forth the carrying value of goodwill and other intangible assets at the dates indicated: At March 31, 2021 At December 31, 2020 (In Thousands) Goodwill $ 160,427 $ 160,427 Other intangible assets: Core deposits 1,831 2,063 Trade name 1,089 1,089 Total other intangible assets 2,920 3,152 Total goodwill and other intangible assets $ 163,347 $ 163,579 At December 31, 2013, the Company concluded that the BankRI name would continue to be utilized in its marketing strategies; therefore, the trade name with carrying value of $1.1 million, has an indefinite life and ceased to amortize. The weighted-average amortization period for the core deposit intangible is 5.5 years. The estimated aggregate future amortization expense (in thousands) for other intangible assets for each of the next five years and thereafter is as follows: Remainder of 2021 $ 644 Year ending: 2022 494 2023 263 2024 151 2025 103 2026 74 Thereafter 102 Total $ 1,831

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)Accumulated Other Comprehensive Income (Loss) For the three months ended March 31, 2021 and 2020, the Company’s accumulated other comprehensive income (loss) includes the following three components: (i) unrealized holding gains (losses) on investment securities available-for-sale; (ii) change in the fair value of cash flow hedges and (iii) adjustment of accumulated obligation for postretirement benefits. Changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows for the periods indicated: Three Months Ended March 31, 2021 Investment Securities Available-for-Sale Net Change in Fair Value of Cash Flow Hedges Postretirement Accumulated Other (In Thousands) Balance at December 31, 2020 $ 16,582 $ 7 $ (99) $ 16,490 Other comprehensive income (loss) (14,408) 2 — (14,406) Reclassification adjustment for (income) expense recognized in earnings — (2) — (2) Balance at March 31, 2021 $ 2,174 $ 7 $ (99) $ 2,082 Three Months Ended March 31, 2020 Investment Securities Available-for-Sale Net Change in Fair Value of Cash Flow Hedges Postretirement Accumulated Other (In Thousands) Balance at December 31, 2019 $ 2,199 $ — $ 84 $ 2,283 Other comprehensive income (loss) 14,664 — — 14,664 Balance at March 31, 2020 $ 16,863 $ — $ 84 $ 16,947

Derivatives and Hedging Activit

Derivatives and Hedging Activities3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging ActivitiesDerivatives and Hedging Activities The Company executes loan level derivative products such as interest rate swap agreements with commercial banking customers to aid them in managing their interest rate risk. The interest rate swap contracts allow the commercial banking customers to convert floating rate loan payments to fixed rate loan payments. The Company concurrently enters into offsetting swaps with a third party financial institution, effectively minimizing its net risk exposure resulting from such transactions. The third party financial institution exchanges the customer's fixed rate loan payments for floating rate loan payments. As the interest rate swap agreements associated with this program do not meet hedge accounting requirements, changes in the fair value are recognized directly in earnings. Based on the Company's intended use for the loan level derivatives at inception, the Company designates the derivative as either an economic hedge of an asset or liability, or a hedging instrument subject to the hedge accounting provisions of FASB ASC Topic 815, "Derivatives and Hedging". The Company believes using interest rate derivatives adds stability to interest income and expense and allows the Company to manage its exposure to interest rate movements. The Company enters into interest rate swaps as part of its interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed payments. The Company enters into interest rate swaps as hedging instruments against the interest rate risk associated with the Company's FHLB borrowings. For derivative instruments that are designated and qualify as cash flow hedging instruments, the effective portion of the gains or losses is reported as a component of other comprehensive income ("OCI"), and is reclassified into earnings in the period that the hedged forecasted transaction affects earnings. As of March 31, 2021, the Company paid its counterparties a fixed weighted average interest rate of 0.08% over a maximum period of 2 years for derivative instruments that are designated as and qualify as cash flow hedging instruments. The Company utilizes risk participation agreements with other banks participating in commercial loan arrangements. Participating banks guarantee the performance on borrower-related interest rate swap contracts. Risk participation agreements are derivative financial instruments and are recorded at fair value. These derivatives are not designated as hedges and therefore, changes in fair value are recorded directly through earnings at each reporting period. Under a risk participation-out agreement, a derivative asset, the Company participates out a portion of the credit risk associated with the interest rate swap position executed with the commercial borrower, for a fee paid to the participating bank. The Company offers foreign exchange contracts to commercial borrowers to accommodate their business needs. These foreign exchange contracts do not qualify as hedges for accounting purposes. To mitigate the market and liquidity risk associated with these foreign exchange contracts, the Company enters into similar offsetting positions. Asset derivatives and liability derivatives are included in other assets and accrued expenses and other liabilities on the unaudited consolidated balance sheets. The following tables present the Company's customer related derivative positions for the periods indicated below for those derivatives not designated as hedging. Notional Amount Maturing Number of Positions Less than 1 year Less than 2 years Less than 3 years Less than 4 years Thereafter Total Fair Value March 31, 2021 (Dollars In Thousands) Loan level derivatives Receive fixed, pay variable 134 $ — $ 10,876 $ 13,949 $118,504 $ 1,089,153 $ 1,232,482 $ 71,310 Pay fixed, receive variable 134 — 10,876 13,949 118,504 1,089,153 1,232,482 71,310 Risk participation-out agreements 37 — — 6,975 22,718 233,737 263,430 1,019 Risk participation-in agreements 8 — — 18,929 — 41,360 60,289 205 Foreign exchange contracts Buys foreign currency, sells U.S. currency 16 $ 1,416 $ — $ — $ — $ — $ 1,416 $ 99 Sells foreign currency, buys U.S. currency 21 1,422 — — — — 1,422 93 Notional Amount Maturing Number of Positions Less than 1 year Less than 2 years Less than 3 years Less than 4 years Thereafter Total Fair Value December 31, 2020 (Dollars In Thousands) Loan level derivatives Receive fixed, pay variable 136 $ — $ 8,541 $ 16,447 $ 99,014 $ 1,090,144 $ 1,214,146 $ 129,284 Pay fixed, receive variable 136 — 8,541 16,447 99,014 1,090,144 1,214,146 129,284 Risk participation-out agreements 37 — — 7,009 22,733 222,913 252,655 1,843 Risk participation-in agreements 8 — — 19,000 — 41,619 60,619 361 Foreign exchange contracts Buys foreign currency, sells U.S. currency 18 $ 1,266 $ — $ — $ — $ — $ 1,266 $ 156 Sells foreign currency, buys U.S. currency 20 1,273 — — — — 1,273 148 Certain derivative agreements contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount. The Company posted collateral to dealer counterparties of $149.4 million and $166.5 million in the normal course of business as of March 31, 2021 and December 31, 2020, respectively. The tables below present the offsetting of derivatives and amounts subject to master netting agreements not offset in the unaudited consolidated balance sheet at the dates indicated. At March 31, 2021 Gross Gross Amounts Net Amounts Presented in the Statement of Financial Position Gross Amounts Not Offset in the Net Amount Financial Instruments Pledged Cash Collateral Pledged (In Thousands) Asset derivatives Derivatives designated as hedging instruments: Interest rate derivatives $ 10 $ — $ 10 $ — $ — $ 10 Derivatives not designated as hedging instruments: Loan level derivatives $ 84,128 $ — $ 84,128 $ — $ — $ 84,128 Risk participation-out agreements 1,019 — 1,019 — — 1,019 Foreign exchange contracts 99 — 99 — — 99 Total $ 85,256 $ — $ 85,256 $ — $ — $ 85,256 Liability derivatives Derivatives designated as hedging instruments: Interest rate derivatives $ 2 $ — $ 2 $ — $ — $ 2 Derivatives not designated as hedging instruments: Loan level derivatives $ 84,128 $ — $ 84,128 $ 138,110 $ 11,280 $ (65,262) Risk participation-in agreements 205 — 205 — — 205 Foreign exchange contracts 93 — 93 — — 93 Total $ 84,428 $ — $ 84,428 $ 138,110 $ 11,280 $ (64,962) At December 31, 2020 Gross Gross Amounts Net Amounts Presented in the Statement of Financial Position Gross Amounts Not Offset in the Net Amount Financial Instruments Pledged Cash Collateral Pledged (In Thousands) Asset derivatives Interest rate derivatives $ 8 $ — $ 8 $ — $ — $ 8 Loan level derivatives 131,328 — 131,328 — — 131,328 Risk participation-out agreements 1,843 — 1,843 — — 1,843 Foreign exchange contracts 156 — 156 — — 156 Total $ 133,335 $ — $ 133,335 $ — $ — $ 133,335 Liability derivatives Loan level derivatives $ 131,328 $ — $ 131,328 $ 155,220 $ 11,280 $ (35,172) Risk participation-in agreements 361 — 361 — — 361 Foreign exchange contracts 148 — 148 — — 148 Total $ 131,837 $ — $ 131,837 $ 155,220 $ 11,280 $ (34,663) The Company has agreements with certain of its derivative counterparties that contain credit-risk-related contingent provisions. These provisions provide the counterparty with the right to terminate its derivative positions and require the Company to settle its obligations under the agreements if the Company defaults on certain of its indebtedness or if the Company fails to maintain its status as a well-capitalized institution. Fair Value Three Months Ended Three Months Ended (Dollars in Thousands) Derivatives designated as hedges $ 8 $ — Gain in OCI on derivatives (effective portion), net of tax $ 7 $ — Gain (loss) reclassified from OCI into interest income or interest expense (effective portion) $ 2 $ — The guidance in ASU 2017-12 requires that amounts in accumulated other comprehensive income that are included in the assessment of effectiveness should be reclassified into earnings in the same period in which the hedged forecasted transactions impact earnings. A portion of the balance reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made or received on the Company’s interest rate swaps. The Company monitors the risk of counterparty default on an ongoing basis.

Stock Based Compensation

Stock Based Compensation3 Months Ended
Mar. 31, 2021
Retirement Benefits [Abstract]
Stock Based CompensationStock Based Compensation As of March 31, 2021, the Company had 2 active equity plans: the 2011 Restricted Stock Award Plan ("2011 RSA") with 500,000 authorized shares and the 2014 Equity Incentive Plan ("2014 Plan") with 1,750,000 authorized shares. The 2011 RSA and the 2014 Plan are collectively referred to as the "Plans". The purpose of the Plans is to promote the long-term financial success of the Company and its subsidiaries by providing a means to attract, retain and reward individuals who contribute to such success and to further align their interests with those of the Company's stockholders. Of the awarded shares, generally 50% vest ratably over three years with one-third of such shares vesting at each of the first, second and third anniversary dates of the awards. These are referred to as "time-based shares". The remaining 50% of each award has a cliff vesting schedule and will vest three years after the award date based on the level of the Company's achievement of identified performance targets in comparison to the level of achievement of such identified performance targets by a defined peer group comprised of 14 financial institutions. These are referred to as "performance-based shares". If a participant leaves the Company prior to the third anniversary date of an award, any unvested shares are usually forfeited. Dividends declared with respect to shares awarded will be held by the Company and paid to the participant only when the shares vest. Under the Plans, shares of the Company's common stock are reserved for issuance as restricted stock awards to officers, employees, and non-employee directors of the Company. Shares issued upon vesting may be either authorized but unissued shares or reacquired shares held by the Company as treasury shares. Any shares not issued because vesting requirements are not met will be retired back to treasury and be made available again for issuance under the Plans. During the three months ended March 31, 2021 and March 31, 2020, no shares were issued upon satisfaction of required conditions of the Plans.

Earnings per Share ("EPS")

Earnings per Share ("EPS")3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings per Share ("EPS")Earnings per Share ("EPS") The following table is a reconciliation of basic EPS and diluted EPS: Three Months Ended March 31, 2021 March 31, 2020 Basic Fully Basic Fully (Dollars in Thousands, Except Per Share Amounts) Numerator: Net income $ 26,454 $ 26,454 $ (17,276) $ (17,276) Denominator: Weighted average shares outstanding 78,143,752 78,143,752 79,481,462 79,481,462 Effect of dilutive securities — 260,311 — 184,312 Adjusted weighted average shares outstanding 78,143,752 78,404,063 79,481,462 79,665,774 EPS $ 0.34 $ 0.34 $ (0.22) $ (0.22)

Fair Value of Financial Instrum

Fair Value of Financial Instruments3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial InstrumentsFair Value of Financial InstrumentsA description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring and non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. There were no changes in the valuation techniques used during the three months ended March 31, 2021 and December 31, 2020. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following tables set forth the carrying value of assets and liabilities measured at fair value on a recurring basis at the dates indicated: Carrying Value as of March 31, 2021 Level 1 Level 2 Level 3 Total (In Thousands) Assets: Investment securities available-for-sale: GSE debentures $ — $ 271,526 $ — $ 271,526 GSE CMOs — 40,925 — 40,925 GSE MBSs — 276,066 — 276,066 Corporate debt obligations — 23,247 — 23,247 U.S. Treasury bonds — 117,641 — 117,641 Foreign government obligations — 496 — 496 Total investment securities available-for-sale $ — $ 729,901 $ — $ 729,901 Equity securities held-for-trading $ — $ 518 $ — $ 518 Interest rate derivatives — 10 — 10 Loan level derivatives — 84,128 — 84,128 Risk participation-out agreements — 1,019 — 1,019 Foreign exchange contracts — 99 — 99 Liabilities: Interest rate derivatives $ — $ 2 $ — $ 2 Loan level derivatives — 84,128 — 84,128 Risk participation-in agreements — 205 — 205 Foreign exchange contracts — 93 — 93 Carrying Value as of December 31, 2020 Level 1 Level 2 Level 3 Total (In Thousands) Assets: Investment securities available-for-sale: GSE debentures $ — $ 278,645 $ — $ 278,645 GSE CMOs — 46,028 — 46,028 GSE MBSs — 323,609 — 323,609 Corporate debt obligations — 23,467 — 23,467 U.S. Treasury bonds — 73,577 — 73,577 Foreign government obligations — 496 — 496 Total investment securities available-for-sale $ — $ 745,822 $ — $ 745,822 Equity securities held-for-trading $ — $ 526 $ — $ 526 Interest rate derivatives — 8 — 8 Loan level derivatives — 131,328 — 131,328 Risk participation-out agreements — 1,843 — 1,843 Foreign exchange contracts — 156 — 156 Liabilities: Loan level derivatives — 131,328 — 131,328 Risk participation-in agreements — 361 — 361 Foreign exchange contracts — 148 — 148 Investment Securities Available-for-Sale The fair value of investment securities is based principally on market prices and dealer quotes received from third-party and nationally-recognized pricing services for identical investment securities such as U.S. Treasury and agency securities. These prices are validated by comparing the primary pricing source with an alternative pricing source when available. When quoted market prices for identical securities are unavailable, the Company uses market prices provided by independent pricing services based on recent trading activity and other observable information, including but not limited to market interest-rate curves, referenced credit spreads and estimated prepayment speeds, where applicable. These investments include GSE debentures, GSE mortgage-related securities, SBA commercial loan asset backed securities, corporate debt securities, and trust preferred securities, all of which are included in Level 2. As of March 31, 2021 and December 31, 2020, none of the investment securities were valued using pricing models included in Level 3. Additionally, management reviews changes in fair value from period to period and performs testing to ensure that prices received from the third parties are consistent with management's expectation of the market. Changes in the prices obtained from the pricing service are analyzed from month to month, taking into consideration changes in market conditions including changes in mortgage spreads, changes in U.S. Treasury security yields and changes in generic pricing of 15-year and 30-year securities. Additional analysis may include a review of prices provided by other independent parties, a yield analysis, a review of average life changes using Bloomberg analytics and a review of historical pricing for a particular security. Equity Securities Held-for-Trading The fair value of equity securities held-for-trading is based principally on market prices and dealer quotes received from third-party and nationally-recognized pricing services. The Company's equity securities are priced this way and are included in Level 1 and Level 2. These prices are validated by comparing the primary pricing source with an alternative pricing source when available. Derivatives and Hedging Instruments The fair value of interest rate derivatives designated as hedging instruments, loan level derivatives, risk participation agreements (RPA in/out), and foreign exchange contracts represent a Level 2 valuation and are based on settlement values adjusted for credit risks associated with the counterparties and the Company and observable market interest rate curves and foreign exchange rates where applicable. Credit risk adjustments consider factors such as the likelihood of default by the Company and its counterparties, its net exposures and remaining contractual life. To date, the Company has not realized any losses due to a counterparty's inability to pay any net uncollateralized position. Refer also to Note 8, "Derivatives and Hedging Activities." There were no transfers between levels for assets and liabilities recorded at fair value on a recurring basis during the three months ended March 31, 2021 and December 31, 2020, respectively. Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis are summarized below at the dated indicated: Carrying Value as of March 31, 2021 Level 1 Level 2 Level 3 Total (In Thousands) Assets measured at fair value on a non-recurring basis: Collateral-dependent impaired loans and leases $ — $ — $ 844 $ 844 OREO — — 5,328 5,328 Repossessed assets — 1,055 — 1,055 Total assets measured at fair value on a non-recurring basis $ — $ 1,055 $ 6,172 $ 7,227 Carrying Value as of December 31, 2020 Level 1 Level 2 Level 3 Total (In Thousands) Assets measured at fair value on a non-recurring basis: Collateral-dependent impaired loans and leases $ — $ — $ 3,445 $ 3,445 OREO — — 5,415 5,415 Repossessed assets — 1,100 — 1,100 Total assets measured at fair value on a non-recurring basis $ — $ 1,100 $ 8,860 $ 9,960 Collateral-Dependent Impaired Loans and Leases For nonperforming loans and leases where the credit quality of the borrower has deteriorated significantly, fair values of the underlying collateral were estimated using purchase and sales agreements (Level 2), or comparable sales or recent appraisals (Level 3), adjusted for selling costs and other expenses. Other Real Estate Owned The Company records OREO at the lower of cost or fair value. In estimating fair value, the Company utilizes purchase and sales agreements (Level 2) or comparable sales, recent appraisals or cash flows discounted at an interest rate commensurate with the risk associated with these cash flows (Level 3), adjusted for selling costs and other expenses. Repossessed Assets Repossessed assets are carried at estimated fair value less costs to sell based on auction pricing (Level 2). The table below presents quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a non-recurring basis at the dates indicated. Fair Value Valuation Technique At March 31, At December 31, 2020 (Dollars in Thousands) Collateral-dependent impaired loans and leases $ 844 $ 3,445 Appraisal of collateral (1) Other real estate owned 5,328 5,415 Appraisal of collateral (1) ________________________________________________________________________ (1) Fair value is generally determined through independent appraisals of the underlying collateral. The Company may also use another available source of collateral assessment to determine a reasonable estimate of the fair value of the collateral. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of the unobservable inputs used may vary but is generally 0% - 10% on the discount for costs to sell and 0% - 15% on appraisal adjustments. Summary of Estimated Fair Values of Financial Instruments The following table presents the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company's financial instruments at the dates indicated. This table excludes financial instruments for which the carrying amount approximates fair value. Financial assets for which the fair value approximates carrying value include cash and cash equivalents, restricted equity securities, and accrued interest receivable. Financial liabilities for which the fair value approximates carrying value include non-maturity deposits, short-term borrowings, and accrued interest payable. Fair Value Measurements at March 31, 2021 Carrying Estimated Level 1 Level 2 Level 3 (In Thousands) Financial assets: Loans and leases, net $ 7,157,715 $ 7,122,319 $ — $ — $ 7,122,319 Restricted equity securities 40,400 40,400 — — 40,400 Financial liabilities: Certificates of deposits 1,743,656 1,751,374 — 1,751,374 — Borrowed funds 546,003 539,957 — 539,957 — Fair Value Measurements at December 31, 2020 Carrying Estimated Level 1 Level 2 Level 3 (In Thousands) Financial assets: Loans and leases, net 7,155,174 7,116,854 — — 7,116,854 Restricted equity securities 49,786 49,786 — — 49,786 Financial liabilities: Certificates of deposit 2,083,907 2,092,867 — 2,092,867 — Borrowed funds 820,247 818,681 — 818,681 — Loans and Leases The fair values of performing loans and leases was estimated by segregating the portfolio into its primary loan and lease categories—commercial real estate mortgage, multi-family mortgage, construction, commercial, equipment financing, condominium association, residential mortgage, home equity and other consumer. These categories were further disaggregated based upon significant financial characteristics such as type of interest rate (fixed / variable) and payment status (current / past-due). Using the exit price valuation method, the Company discounts the contractual cash flows for each loan category using interest rates currently being offered for loans with similar terms to borrowers of similar quality and incorporates estimates of future loan prepayments. Restricted Equity Securities The fair values of certain restricted equity securities are estimated using observable inputs adjusted for other unobservable information, including but not limited to probability assumptions and similar discounts where applicable. These restricted equity securities are considered to be Level 3. Deposits The fair values of deposit liabilities with no stated maturity (demand, NOW, savings and money market savings accounts) are equal to the carrying amounts payable on demand. The fair value of certificates of deposit represents contractual cash flows discounted using interest rates currently offered on deposits with similar characteristics and remaining maturities. The fair value estimates for deposits do not include the benefit that results from the low-cost funding provided by the Company's core deposit relationships (deposit-based intangibles). Borrowed Funds The fair value of federal funds purchased is equal to the amount borrowed. The fair value of FHLBB advances and repurchase agreements represents contractual repayments discounted using interest rates currently available for borrowings with similar characteristics and remaining maturities. The fair values reported for retail repurchase agreements are based on the discounted value of contractual cash flows. The discount rates used are representative of approximate rates currently offered on borrowings with similar characteristics and maturities. The fair values reported for subordinated deferrable interest debentures are based on the discounted value of contractual cash flows. The discount rates used are representative of approximate rates currently offered on instruments with similar terms and maturities.

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesCommitments and Contingencies Off-Balance Sheet Financial Instruments The Company is party to off-balance sheet financial instruments in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include loan commitments, standby and commercial letters of credit, and loan level derivatives. According to GAAP, these financial instruments are not recorded in the financial statements until they are funded or related fees are incurred or received. The contract amounts reflect the extent of the involvement the Company has in particular classes of these instruments. Such commitments involve, to varying degrees, elements of credit risk and interest-rate risk in excess of the amount recognized in the consolidated balance sheets. The Company's exposure to credit loss in the event of non-performance by the counterparty is represented by the fair value of the instruments. The Company uses the same policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Financial instruments with off-balance-sheet risk at the dates indicated follow: At March 31, 2021 At December 31, 2020 (In Thousands) Financial instruments whose contract amounts represent credit risk: Commitments to originate loans and leases: Commercial real estate $ 107,597 $ 174,240 Commercial 105,426 80,291 Residential mortgage 82,366 30,418 Unadvanced portion of loans and leases 826,545 759,053 Unused lines of credit: Home equity 591,377 584,881 Other consumer 41,583 38,954 Other commercial 431 408 Unused letters of credit: Financial standby letters of credit 15,953 14,746 Performance standby letters of credit 6,607 5,903 Commercial and similar letters of credit 5,369 5,105 Loan level derivatives (Notional principal amounts): Receive fixed, pay variable 1,232,482 1,214,146 Pay fixed, receive variable 1,232,482 1,214,146 Risk participation-out agreements 263,430 252,655 Risk participation-in agreements 60,289 60,619 Foreign exchange contracts (Notional amounts): Buys foreign currency, sells U.S. currency 1,416 1,266 Sells foreign currency, buys U.S. currency 1,422 1,273 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee by the customer. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if any, is based on management's credit evaluation of the borrower. Standby and commercial letters of credit are conditional commitments issued by the Company to guarantee performance of a customer to a third party. These standby and commercial letters of credit are primarily issued to support the financing needs of the Company's commercial customers. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. From time to time, the Company enters into loan level derivatives, risk participation agreements or foreign exchange contracts with commercial customers and third-party financial institutions. These derivatives allow the Company to offer long-term fixed-rate commercial loans while mitigating the interest-rate or foreign exchange risk of holding those loans. In a loan level derivative transaction, the Company lends to a commercial customer on a floating-rate basis and then enters into a loan level derivative with that customer. Concurrently, the Company enters into offsetting swaps with a third-party financial institution, effectively minimizing its net interest-rate risk exposure resulting from such transactions. The fair value of these derivatives are presented in Footnote 8. Lease Commitments The Company leases certain office space under various noncancellable operating leases as well as certain other assets. These leases have original terms ranging from 3 years to over 25 years. Certain leases contain renewal options and escalation clauses which can increase rental expenses based principally on the consumer price index and fair market rental value provisions. All of the Company's current outstanding leases are classified as operating leases. The Company considered the following criteria when determining whether a contract contains a lease, the existence of an identifiable asset and the right to obtain substantially all of the economic benefits from use of the asset through the period. The Company used the FHLB classic advance rates available as of March 31, 2021 as the discount rate to determine the net present value of the remaining lease payments. Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) The components of lease expense were as follow: Operating lease cost $ 1,563 $ 1,611 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,579 $ 1,658 At March 31, 2021 At December 31, 2020 (In Thousands) Supplemental balance sheet information related to leases was as follows: Operating Leases Operating lease right-of-use assets $ 23,180 $ 24,143 Operating lease liabilities 23,180 24,143 Weighted Average Remaining Lease Term Operating leases 6.80 6.95 Weighted Average Discount Rate Operating leases 3.2 % 3.2 % A summary of future minimum rental payments under such leases at the dates indicated follows: Minimum Rental Payments March 31, 2021 (In Thousands) Remainder of 2021 $ 4,596 Year ending: 2022 5,569 2023 4,643 2024 3,366 2025 2,343 2026 1,559 Thereafter 3,571 Total $ 25,647 Less imputed interest (2,467) Present value of lease liability $ 23,180 Certain leases contain escalation clauses for real estate taxes and other expenditures, which are not included above. The total real estate taxes were $0.5 million and other expenditures were $0.1 million for both the three months ended March 31, 2021, and 2020. Total rental expense was $1.5 million and $1.6 million for the three months ended March 31, 2021 and 2020, respectively. Legal Proceedings In the normal course of business, there are various outstanding legal proceedings. In the opinion of management, after consulting with legal counsel, the consolidated financial position and results of operations of the Company are not expected to be affected materially by the outcome of such proceedings.

Revenue from Contracts with Cus

Revenue from Contracts with Customers3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with CustomersRevenue from Contracts with Customers Overview Revenue from contracts with customers in the scope of Accounting Standards Codification (“ASC”) ("Topic 606") is measured based on the consideration specified in the contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. The Company’s performance obligations are generally satisfied as services are rendered and can either be satisfied at a point in time or over time. Unsatisfied performance obligations at the report date are not material to our consolidated financial statements. In certain cases, other parties are involved with providing services to our customers. If the Company is a principal in the transaction (providing services itself or through a third party on its behalf), revenues are reported based on the gross consideration received from the customer and any related expenses are reported in gross noninterest expense. If the Company is an agent in the transaction (referring to another party to provide services), the Company reports its net fee or commission retained as revenue. A substantial portion of the Company’s revenue is specifically excluded from the scope of Topic 606. This exclusion is associated with financial instruments, including interest income on loans and investment securities, in addition to loan derivative income and gains on loan and investment sales. For the revenue that is in-scope of Topic 606, the following is a description of principal activities from which the Company generates its revenue from contracts with customers, separated by the timing of revenue recognition. Revenue Recognized at a Point in Time The Company recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Additionally, revenue is collected from loan fees, such as letters of credit, line renewal fees and application fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction. Revenue Recognized Over Time The Company recognizes revenue over a period of time, generally monthly, as services are performed and performance obligations are satisfied. Such revenue includes commissions on investments, insurance sales and service charges on deposit accounts. Fee revenue from service charges on deposit accounts represents the service charges assessed to customers who hold deposit accounts at the Banks.

Basis of Presentation (Policies

Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies
Basis of Financial Statement PresentationBasis of Financial Statement PresentationThe unaudited consolidated financial statements of the Company presented herein have been prepared pursuant to the rules of the SEC for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying consolidated financial statements have been included. Interim results are not necessarily reflective of the results of the entire year. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
ConsolidationThe unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances are eliminated in consolidation.
Use of EstimatesIn preparing these consolidated financial statements, management is required to make significant estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosure of contingent assets and liabilities. Actual results could differ from those estimates based upon changing conditions, including economic conditions and future events. Material estimates that are particularly susceptible to significant changes in the near-term include the determination of the allowance for credit losses, the determination of fair market values of assets and liabilities, the review of goodwill and intangible assets for impairment and the review of deferred tax assets for valuation allowances. The judgments used by management in applying these critical accounting policies may be affected by a further and prolonged deterioration in the economic environment, which may result in changes to future financial results. For example, subsequent evaluations of the loan and lease portfolio, in light of the factors then prevailing, may result in significant changes in the allowance for loan and lease losses in future periods, and the inability to collect outstanding principal may result in increased loan and lease losses.
ReclassificationReclassification Certain previously reported amounts have been reclassified to conform to the current year's presentation.
Recent Accounting PronouncementsRecent Accounting Pronouncements Accounting Standards Adopted in 2021 and 2020 In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaced the previous GAAP method of calculating credit losses. Previously, GAAP required the use of the incurred loss methodology, which used a higher threshold at which probable losses were calculated and recorded. ASU 2016-13 requires the use of an expected loss methodology, referred to as the current expected credit loss (“CECL”) methodology, which requires institutions to account for lifetime expected losses that previously would not have been part of the calculation. The CECL methodology incorporates future forecasting in addition to historical and current measures. The Company adopted all of the above mentioned ASU as of January 1, 2020. The standard had an impact on our consolidated balance sheet. On adoption, the Company recognized an increase in the allowance for loan and lease losses of $6.6 million, and an increase in the reserve for unfunded commitments of $8.9 million. The net, after-tax impact of the increase in the allowance for loan and lease losses and reserve for unfunded commitments was a decrease to retained earnings of $11.5 million shown in the Consolidated Statements of Changes in Stockholders’ Equity. Additional details can be found in Notes 3, 4 and 5.

Investment Securities (Tables)

Investment Securities (Tables)3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of securities available-for-sale securitiesThe following tables set forth investment securities available-for-sale, held-to-maturity and equity securities held-for-trading at the dates indicate d: At March 31, 2021 Amortized Gross Gross Estimated (In Thousands) Investment securities available-for-sale: GSE debentures $ 273,315 $ 4,130 $ 5,919 $ 271,526 GSE CMOs 39,980 957 12 40,925 GSE MBSs 271,231 5,981 1,146 276,066 Corporate debt obligations 22,269 978 — 23,247 U.S. Treasury bonds 119,817 1,586 3,762 117,641 Foreign government obligations 500 — 4 496 Total investment securities available-for-sale $ 727,112 $ 13,632 $ 10,843 $ 729,901 Equity securities held-for-trading $ 518 December 31, 2020 Amortized Gross Gross Estimated (In Thousands) Investment securities available-for-sale: GSE debentures $ 273,820 $ 5,455 $ 630 $ 278,645 GSE CMOs 44,937 1,103 12 46,028 GSE MBSs 312,658 10,956 5 323,609 Corporate debt obligations 22,299 1,168 — 23,467 U.S. Treasury bonds 70,339 3,318 80 73,577 Foreign government obligations 500 — 4 496 Total investment securities available-for-sale $ 724,553 $ 22,000 $ 731 $ 745,822 Equity securities held-for-trading $ 526
Schedule of investment securities in a continuous unrealized loss positionInvestment securities as of March 31, 2021 and December 31, 2020 that have been in a continuous unrealized loss position for less than twelve months or twelve months or longer are as follows: At March 31, 2021 Less than Twelve Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In Thousands) Investment securities available-for-sale: GSE debentures $ 118,064 $ 5,919 $ — $ — $ 118,064 $ 5,919 GSE CMOs 513 10 707 2 1,220 12 GSE MBSs 70,289 1,145 95 1 70,384 1,146 U.S. Treasury bonds 71,450 3,762 — — 71,450 3,762 Foreign government obligations — — 496 4 496 4 Temporarily impaired investment securities available-for-sale 260,316 10,836 1,298 7 261,614 10,843 Total temporarily impaired investment securities $ 260,316 $ 10,836 $ 1,298 $ 7 $ 261,614 $ 10,843 At December 31, 2020 Less than Twelve Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (In Thousands) Investment securities available-for-sale: GSE debentures $ 72,745 $ 630 $ — $ — $ 72,745 $ 630 GSE CMOs 832 7 872 5 1,704 12 GSE MBSs 2,102 5 97 — 2,199 5 U.S. Treasury bonds 9,750 80 — — 9,750 80 Foreign government obligations — — 496 4 496 4 Temporarily impaired investment securities available-for-sale 85,429 722 1,465 9 86,894 731 Total temporarily impaired investment securities $ 85,429 $ 722 $ 1,465 $ 9 $ 86,894 $ 731
Schedule of maturities of the investments in debt securitiesThe final stated maturities of the debt securities are as follows for the periods indicated: At March 31, 2021 At December 31, 2020 Amortized Estimated Weighted Amortized Estimated Weighted (Dollars in Thousands) Investment securities available-for-sale: Within 1 year $ 49,597 $ 50,149 1.99 % $ 31,633 $ 32,013 2.02 % After 1 year through 5 years 132,676 138,463 2.23 % 146,274 153,262 2.22 % After 5 years through 10 years 261,816 254,174 1.38 % 222,271 225,568 1.43 % Over 10 years 283,023 287,115 2.01 % 324,375 334,979 1.86 % $ 727,112 $ 729,901 1.84 % $ 724,553 $ 745,822 1.81 %
Summary of gains and losses from sale of securitiesSales of investment and restricted equity securities are summarized as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) Proceeds from sales of investment securities available-for-sale and equity securities held-for-trading $ — $ 86,435 Gross gains from securities sales — 2,446 Gross losses from securities sales — (93) Gain on sales of securities, net $ — $ 2,353

Loans and Leases (Tables)

Loans and Leases (Tables)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Summary of loan and lease balances for the originated and acquired portfoliosThe following table presents the amortized cost of loans and leases and weighted average coupon rates for the loan and lease portfolios at the dates indicated: At March 31, 2021 At December 31, 2020 Balance Weighted Balance Weighted (Dollars In Thousands) Commercial real estate loans: Commercial real estate $ 2,595,240 3.48 % $ 2,578,773 3.58 % Multi-family mortgage 1,000,474 3.48 % 1,013,432 3.53 % Construction 194,627 3.60 % 231,621 3.49 % Total commercial real estate loans 3,790,341 3.49 % 3,823,826 3.56 % Commercial loans and leases: Commercial 1 1,206,977 2.35 % 1,131,668 2.55 % Equipment financing 1,069,621 7.17 % 1,092,461 7.26 % Condominium association 47,604 4.54 % 50,770 4.55 % Total commercial loans and leases 2,324,202 4.61 % 2,274,899 4.86 % Consumer loans: Residential mortgage 781,854 3.68 % 791,317 3.74 % Home equity 334,706 3.25 % 346,652 3.26 % Other consumer 36,449 2.92 % 32,859 3.04 % Total consumer loans 1,153,009 3.53 % 1,170,828 3.58 % Total loans and leases $ 7,267,552 3.84 % $ 7,269,553 3.97 % ______________________________________________________________________ (1) Including $604,790 of PPP loans as of March 31, 2021. These loans are fully guaranteed by the SBA and therefore, have not been reserved for in the allowance for credit losses as of March 31, 2021.

Allowance for Loan and Lease _2

Allowance for Loan and Lease Losses (Tables)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Schedule of changes in the allowance for loan and lease lossesThe following tables present the changes in the allowance for loan and lease losses in loans and leases by portfolio segment for the periods indicated: Three Months Ended March 31, 2021 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2020 $ 80,132 $ 29,498 $ 4,749 $ 114,379 Charge-offs — (2,140) (3) (2,143) Recoveries — 331 52 383 (Credit) provision for loan and lease losses excluding unfunded commitments (203) (1,864) (715) (2,782) Balance at March 31, 2021 $ 79,929 $ 25,825 $ 4,083 $ 109,837 Three Months Ended March 31, 2020 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2019 $ 30,285 $ 24,826 $ 5,971 $ 61,082 Adoption of ASU 2016-13 (CECL) 11,694 (2,672) (2,390) 6,632 Charge-offs — (2,527) (12) (2,539) Recoveries — 247 58 305 Provision for loan and lease losses 40,200 6,900 601 47,701 Balance at March 31, 2020 $ 82,179 $ 26,774 $ 4,228 $ 113,181
Schedule of provisions for credit lossesThe provisions for credit losses are set forth below for the periods indicated: Three Months Ended March 31, 2021 2020 (In Thousands) Provision for loan and lease losses: Commercial real estate $ (203) $ 40,200 Commercial (1,864) 6,900 Consumer (715) 601 Total (credit) provision for loan and lease losses (2,782) 47,701 Unfunded commitments 635 6,413 Total (credit) provision for credit losses $ (2,147) $ 54,114
Summary of the recorded investments by credit quality indicator, by loan classCredit Quality Information The following table presents the amortized cost basis of loans in each class by credit quality indicator and year of origination as of March 31, 2021. March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 80,520 $ 357,115 $ 366,961 $ 283,214 $ 252,971 $ 1,115,585 $ 55,390 $ 12,645 $ 2,524,401 OAEM 693 736 27,369 — — 35,014 — — 63,812 Substandard — 210 — — 1,617 5,139 — 61 7,027 Total 81,213 358,061 394,330 283,214 254,588 1,155,738 55,390 12,706 2,595,240 Multi-Family Mortgage Pass 14,673 124,227 145,143 165,079 99,440 416,861 5,218 27,457 998,098 OAEM — — — — — 2,376 — — 2,376 Total 14,673 124,227 145,143 165,079 99,440 419,237 5,218 27,457 1,000,474 Construction Pass 2,272 46,896 46,555 85,292 665 632 4,697 — 187,009 Substandard — — 4,853 — — 2,765 7,618 Total 2,272 46,896 51,408 85,292 665 3,397 4,697 — 194,627 Commercial March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 237,440 451,623 55,419 37,516 35,407 129,638 226,438 1,716 1,175,197 OAEM — 1,589 4,436 — 16,242 12 1,840 — 24,119 Substandard — — — 118 345 2,902 3,716 578 7,659 Doubtful — — — — — — — 2 2 Total 237,440 453,212 59,855 37,634 51,994 132,552 231,994 2,296 1,206,977 Equipment Financing Pass 65,631 318,891 286,098 186,109 105,056 86,647 1,868 556 1,050,856 OAEM — 196 1,058 293 96 709 — — 2,352 Substandard — 1,000 2,787 5,224 3,678 2,529 — — 15,218 Doubtful — 1 450 65 27 652 — — 1,195 Total 65,631 320,088 290,393 191,691 108,857 90,537 1,868 556 1,069,621 Condominium Association Pass 187 7,409 9,206 5,194 7,385 16,769 1,172 176 47,498 Substandard — — — — — 106 — — 106 Total 187 7,409 9,206 5,194 7,385 16,875 1,172 176 47,604 Other Consumer Pass 35 852 523 1,827 31 869 32,295 15 36,447 Substandard — — — — — 1 — 1 2 Total 35 852 523 1,827 31 870 32,295 16 36,449 Total Pass 400,758 1,307,013 909,905 764,231 500,955 1,767,001 327,078 42,565 6,019,506 OAEM 693 2,521 32,863 293 16,338 38,111 1,840 — 92,659 Substandard — 1,210 7,640 5,342 5,640 13,442 3,716 640 37,630 Doubtful — 1 450 65 28 652 — 2 1,198 Total $ 401,451 $ 1,310,745 $ 950,858 $ 769,931 $ 522,961 $ 1,819,206 $ 332,634 $ 43,207 $ 6,150,993 As of March 31, 2021, there were no loans categorized as definite loss. For residential mortgage and home equity loans, the borrowers' credit scores contribute as a reserve metric in the retail loss rate model. At March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Residential Credit Scores Over 700 $ 22,650 $ 119,549 $ 89,528 $ 57,286 $ 49,514 $ 162,830 $ 4,002 $ — $ 505,359 661 - 700 3,036 24,134 18,328 10,110 13,852 30,005 — — 99,465 600 and below 682 6,914 4,700 5,053 4,234 16,956 — — 38,539 Data not available* 2,177 17,969 17,003 15,591 13,248 71,181 — 1,322 138,491 Total $ 28,545 $ 168,566 $ 129,559 $ 88,040 $ 80,848 $ 280,972 $ 4,002 $ 1,322 $ 781,854 Home Equity Credit Scores Over 700 $ 553 $ 1,534 $ 2,421 $ 2,249 $ 2,507 $ 12,331 $ 239,483 $ 2,303 $ 263,381 661 - 700 51 118 440 476 260 2,354 44,625 616 48,940 600 and below — 58 106 260 13 550 10,267 1,058 12,312 Data not available* — 68 — — — 1,318 7,719 968 10,073 Total $ 604 $ 1,778 $ 2,967 $ 2,985 $ 2,780 $ 16,553 $ 302,094 $ 4,945 $ 334,706 _______________________________________________________________________________ * Represents loans and leases for which data are not available. The following tables present the recorded investment in loans in each class as of December 31, 2020, by credit quality indicator. December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 352,832 $ 412,071 $ 282,629 $ 255,786 $ 243,477 $ 944,676 $ 55,392 $ 12,585 $ 2,559,448 OAEM — 477 — — 3,312 8,991 — — 12,780 Substandard — — — 1,261 2 5,220 — 62 6,545 Doubtful — — — — — — — — — Total 352,832 412,548 282,629 257,047 246,791 958,887 55,392 12,647 2,578,773 Multi-Family Mortgage Pass 125,434 136,620 162,180 103,997 127,873 304,224 15,845 34,871 1,011,044 OAEM — — — — — 2,388 — — 2,388 Total 125,434 136,620 162,180 103,997 127,873 306,612 15,845 34,871 1,013,432 Construction December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 46,249 56,074 112,856 1,799 2,788 404 3,834 — 224,004 Substandard — 4,853 — — 2,764 — — — 7,617 Total 46,249 60,927 112,856 1,799 5,552 404 3,834 — 231,621 Commercial Pass 574,542 66,278 41,325 62,112 22,085 113,715 226,495 1,687 1,108,239 OAEM 310 4,850 — — 35 17 5,382 — 10,594 Substandard 80 — 129 389 29 7,612 3,930 664 12,833 Doubtful — — — — — — — 2 2 Total 574,932 71,128 41,454 62,501 22,149 121,344 235,807 2,353 1,131,668 Equipment Financing Pass 332,375 306,231 209,219 121,845 56,241 45,451 636 576 1,072,574 OAEM 196 1,066 290 93 609 85 — 2,339 Substandard 402 4,385 5,280 3,545 1,891 631 — — 16,134 Doubtful 1 64 24 27 1,292 6 — — 1,414 Total 332,974 311,746 214,813 125,510 60,033 46,173 636 576 1,092,461 Condominium Association Pass 6,455 9,918 5,399 7,928 5,213 12,682 2,684 379 50,658 Substandard — — — — 112 — — — 112 Total 6,455 9,918 5,399 7,928 5,325 12,682 2,684 379 50,770 Other Consumer Pass 694 549 1,938 32 570 301 28,755 18 32,857 Substandard — — — — — — — 2 2 Total 694 549 1,938 32 570 301 28,755 20 32,859 Total Pass 1,438,581 987,741 815,546 553,499 458,247 1,421,453 333,641 50,116 6,058,824 OAEM 506 6,393 290 93 3,956 11,481 5,382 — 28,101 Substandard 482 9,238 5,409 5,195 4,798 13,463 3,930 728 43,243 Doubtful 1 64 24 27 1,292 6 — 2 1,416 Total $ 1,439,570 $ 1,003,436 $ 821,269 $ 558,814 $ 468,293 $ 1,446,403 $ 342,953 $ 50,846 $ 6,131,584 As of December 31, 2020, there were no loans categorized as definite loss. At December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Converted Total (In Thousands) Residential Credit Scores Over 700 $ 119,566 $ 94,300 $ 62,452 $ 53,662 $ 47,327 $ 124,999 $ 4,442 $ — $ 506,748 661 - 700 21,820 19,426 10,943 15,616 8,132 23,282 — — 99,219 600 and below 6,901 5,659 4,763 4,318 4,553 13,997 — — 40,191 Data not available* 19,209 17,082 16,199 14,153 5,729 71,456 — 1,331 145,159 Total $ 167,496 $ 136,467 $ 94,357 $ 87,749 $ 65,741 $ 233,734 $ 4,442 $ 1,331 $ 791,317 Home Equity Credit Scores Over 700 $ 1,546 $ 2,832 $ 2,440 $ 2,770 $ 910 $ 12,804 $ 247,538 $ 2,397 $ 273,237 661 - 700 122 459 499 566 305 2,793 45,356 1,334 51,434 600 and below 59 108 266 13 39 541 10,139 878 12,043 Data not available* 61 — — — — 1,387 7,330 1,160 9,938 Total $ 1,788 $ 3,399 $ 3,205 $ 3,349 $ 1,254 $ 17,525 $ 310,363 $ 5,769 $ 346,652
Schedule of information regarding the aging of past due loans, by loan classThe following table presents an age analysis of the amortized cost basis in loans and leases as of March 31, 2021. At March 31, 2021 Past Due Past 31-60 61-90 Greater Total Current Total Loans Non-accrual Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 5,489 $ 3,946 $ 3,366 $ 12,801 $ 2,582,439 $ 2,595,240 $ — $ 3,611 $ 2,902 Multi-family mortgage 1,141 — — 1,141 999,333 1,000,474 — — — Construction 3,764 — 3,853 7,617 187,010 194,627 — 3,853 3,853 Total commercial real estate loans 10,394 3,946 7,219 21,559 3,768,782 3,790,341 — 7,464 6,755 Commercial loans and leases: Commercial 229 — 1,213 1,442 1,205,535 1,206,977 62 3,161 1,882 Equipment financing 4,010 2,115 9,501 15,626 1,053,995 1,069,621 1,113 15,772 4,260 Condominium association — — — — 47,604 47,604 — 106 106 Total commercial loans and leases 4,239 2,115 10,714 17,068 2,307,134 2,324,202 1,175 19,039 6,248 Consumer loans: Residential mortgage 1,979 459 3,254 5,692 776,162 781,854 — 3,722 3,260 Home equity 1,056 1 531 1,588 333,118 334,706 4 792 557 Other consumer 12 1 1 14 36,435 36,449 — 2 — Total consumer loans 3,047 461 3,786 7,294 1,145,715 1,153,009 4 4,516 3,817 Total loans and leases $ 17,680 $ 6,522 $ 21,719 $ 45,921 $ 7,221,631 $ 7,267,552 $ 1,179 $ 31,019 $ 16,820 There is no interest income recognized on non-accrual loans for the three months ended March 31, 2021. The following tables present an age analysis of the recorded investment in originated and acquired loans and leases as of December 31, 2020. At December 31, 2020 Past Due Loans and Non-accrual 31-60 61-90 Greater Total Current Total Loans Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 18,294 $ 12,402 $ 7,272 $ 37,968 $ 2,540,805 $ 2,578,773 $ 4,722 $ 3,300 $ 2,580 Multi-family mortgage 813 — — 813 1,012,619 1,013,432 — — — Construction — — 7,617 7,617 224,004 231,621 3,764 3,853 3,853 Total commercial real estate loans 19,107 12,402 14,889 46,398 3,777,428 3,823,826 8,486 7,153 6,433 Commercial loans and leases: Commercial 451 304 9,171 9,926 1,121,742 1,131,668 3,486 7,702 6,263 Equipment financing 5,970 2,263 9,391 17,624 1,074,837 1,092,461 — 16,757 4,062 Condominium association 282 297 — 579 50,191 50,770 — 112 112 Total commercial loans and leases 6,703 2,864 18,562 28,129 2,246,770 2,274,899 3,486 24,571 10,437 Consumer loans: Residential mortgage 2,161 648 3,841 6,650 784,667 791,317 — 5,587 5,117 Home equity 580 215 588 1,383 345,269 346,652 3 1,136 824 Other consumer 13 — 1 14 32,845 32,859 — 1 — Total consumer loans 2,754 863 4,430 8,047 1,162,781 1,170,828 3 6,724 5,941 Total loans and leases $ 28,564 $ 16,129 $ 37,881 $ 82,574 $ 7,186,979 $ 7,269,553 $ 11,975 $ 38,448 $ 22,811
Schedule of the impaired and non-impaired loans and leases, by loan and leases classThe following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated. Periods prior to January 1, 2020 are presented in accordance with accounting rules effective at that time. At March 31, 2021 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 132 $ 907 $ 94 $ 1,133 Collectively evaluated 79,797 24,918 3,989 108,704 Total $ 79,929 $ 25,825 $ 4,083 $ 109,837 Loans and Leases: Individually evaluated $ 14,927 $ 20,198 $ 6,414 $ 41,539 Collectively evaluated 3,775,414 2,304,004 1,146,595 7,226,013 Total $ 3,790,341 $ 2,324,202 $ 1,153,009 $ 7,267,552 At December 31, 2020 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 183 $ 2,020 $ 108 $ 2,311 Collectively evaluated 79,949 27,478 4,641 112,068 Total loans and leases $ 80,132 $ 29,498 $ 4,749 $ 114,379 Loans and Leases: Individually evaluated $ 14,159 $ 24,727 $ 8,760 $ 47,646 Collectively evaluated 3,809,667 2,250,172 1,162,068 7,221,907 Total loans and leases $ 3,823,826 $ 2,274,899 $ 1,170,828 $ 7,269,553
Schedule of information regarding troubled debt restructuring loansThe following table sets forth information regarding TDR loans and leases at the dates indicated: At March 31, 2021 At December 31, 2020 (In Thousands) Troubled debt restructurings: On accrual $ 16,770 $ 11,483 On nonaccrual 6,293 7,476 Total troubled debt restructurings $ 23,063 $ 18,959
Summary of loans restructured or defaultedThe amortized cost basis in TDR loans and the associated specific credit losses for the loan and lease portfolios, that were modified during the periods indicated, are as follows. At and for the Three Months Ended March 31, 2021 Amortized Cost Specific Defaulted (1) Number of At At End of Nonaccrual Number of Amortized Cost (Dollars in Thousands) Commercial real estate 1 $ 497 $ 497 — — — — Construction 4 2,764 2,764 Equipment financing 12 1,718 1,731 — 234 — — Total loans and leases 17 $ 4,979 $ 4,992 $ — $ 234 $ — $ — ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated. At and for the Three Months Ended March 31, 2020 Recorded Investment Specific Defaulted (1) Number of At At End of Nonaccrual Number of Recorded (Dollars in Thousands) Commercial real estate — — — — 1 228 Commercial 1 297 295 — 295 — — Equipment financing 2 200 200 — — — — Total loans and leases 3 $ 497 $ 495 $ — $ 295 1 $ 228 ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated.
Schedule of troubled debt restructurings by type of modificationThe following table sets forth the Company's end-of-period amortized cost basis for TDRs that were modified during the periods indicated, by type of modification. Three Months Ended March 31, 2021 2020 (In Thousands) Extended maturity $ 4,300 $ 295 Combination maturity, principal, interest rate 693 200 Total $ 4,993 $ 495

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill and other intangible assetsThe following table sets forth the carrying value of goodwill and other intangible assets at the dates indicated: At March 31, 2021 At December 31, 2020 (In Thousands) Goodwill $ 160,427 $ 160,427 Other intangible assets: Core deposits 1,831 2,063 Trade name 1,089 1,089 Total other intangible assets 2,920 3,152 Total goodwill and other intangible assets $ 163,347 $ 163,579
Schedule of estimated aggregate future amortization expense for intangible assetsThe estimated aggregate future amortization expense (in thousands) for other intangible assets for each of the next five years and thereafter is as follows: Remainder of 2021 $ 644 Year ending: 2022 494 2023 263 2024 151 2025 103 2026 74 Thereafter 102 Total $ 1,831

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Schedule of changes in accumulated other comprehensive (loss) income by component, net of taxChanges in accumulated other comprehensive income (loss) by component, net of tax, were as follows for the periods indicated: Three Months Ended March 31, 2021 Investment Securities Available-for-Sale Net Change in Fair Value of Cash Flow Hedges Postretirement Accumulated Other (In Thousands) Balance at December 31, 2020 $ 16,582 $ 7 $ (99) $ 16,490 Other comprehensive income (loss) (14,408) 2 — (14,406) Reclassification adjustment for (income) expense recognized in earnings — (2) — (2) Balance at March 31, 2021 $ 2,174 $ 7 $ (99) $ 2,082 Three Months Ended March 31, 2020 Investment Securities Available-for-Sale Net Change in Fair Value of Cash Flow Hedges Postretirement Accumulated Other (In Thousands) Balance at December 31, 2019 $ 2,199 $ — $ 84 $ 2,283 Other comprehensive income (loss) 14,664 — — 14,664 Balance at March 31, 2020 $ 16,863 $ — $ 84 $ 16,947

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value and classification of derivative financial instruments on the consolidated balance sheets and the effect of the derivative financial instruments on the consolidated income statementsThe following tables present the Company's customer related derivative positions for the periods indicated below for those derivatives not designated as hedging. Notional Amount Maturing Number of Positions Less than 1 year Less than 2 years Less than 3 years Less than 4 years Thereafter Total Fair Value March 31, 2021 (Dollars In Thousands) Loan level derivatives Receive fixed, pay variable 134 $ — $ 10,876 $ 13,949 $118,504 $ 1,089,153 $ 1,232,482 $ 71,310 Pay fixed, receive variable 134 — 10,876 13,949 118,504 1,089,153 1,232,482 71,310 Risk participation-out agreements 37 — — 6,975 22,718 233,737 263,430 1,019 Risk participation-in agreements 8 — — 18,929 — 41,360 60,289 205 Foreign exchange contracts Buys foreign currency, sells U.S. currency 16 $ 1,416 $ — $ — $ — $ — $ 1,416 $ 99 Sells foreign currency, buys U.S. currency 21 1,422 — — — — 1,422 93 Notional Amount Maturing Number of Positions Less than 1 year Less than 2 years Less than 3 years Less than 4 years Thereafter Total Fair Value December 31, 2020 (Dollars In Thousands) Loan level derivatives Receive fixed, pay variable 136 $ — $ 8,541 $ 16,447 $ 99,014 $ 1,090,144 $ 1,214,146 $ 129,284 Pay fixed, receive variable 136 — 8,541 16,447 99,014 1,090,144 1,214,146 129,284 Risk participation-out agreements 37 — — 7,009 22,733 222,913 252,655 1,843 Risk participation-in agreements 8 — — 19,000 — 41,619 60,619 361 Foreign exchange contracts Buys foreign currency, sells U.S. currency 18 $ 1,266 $ — $ — $ — $ — $ 1,266 $ 156 Sells foreign currency, buys U.S. currency 20 1,273 — — — — 1,273 148
Schedule of offsetting derivatives and amounts subject to master netting agreements not offset in the audited consolidated balance sheetThe tables below present the offsetting of derivatives and amounts subject to master netting agreements not offset in the unaudited consolidated balance sheet at the dates indicated. At March 31, 2021 Gross Gross Amounts Net Amounts Presented in the Statement of Financial Position Gross Amounts Not Offset in the Net Amount Financial Instruments Pledged Cash Collateral Pledged (In Thousands) Asset derivatives Derivatives designated as hedging instruments: Interest rate derivatives $ 10 $ — $ 10 $ — $ — $ 10 Derivatives not designated as hedging instruments: Loan level derivatives $ 84,128 $ — $ 84,128 $ — $ — $ 84,128 Risk participation-out agreements 1,019 — 1,019 — — 1,019 Foreign exchange contracts 99 — 99 — — 99 Total $ 85,256 $ — $ 85,256 $ — $ — $ 85,256 Liability derivatives Derivatives designated as hedging instruments: Interest rate derivatives $ 2 $ — $ 2 $ — $ — $ 2 Derivatives not designated as hedging instruments: Loan level derivatives $ 84,128 $ — $ 84,128 $ 138,110 $ 11,280 $ (65,262) Risk participation-in agreements 205 — 205 — — 205 Foreign exchange contracts 93 — 93 — — 93 Total $ 84,428 $ — $ 84,428 $ 138,110 $ 11,280 $ (64,962) At December 31, 2020 Gross Gross Amounts Net Amounts Presented in the Statement of Financial Position Gross Amounts Not Offset in the Net Amount Financial Instruments Pledged Cash Collateral Pledged (In Thousands) Asset derivatives Interest rate derivatives $ 8 $ — $ 8 $ — $ — $ 8 Loan level derivatives 131,328 — 131,328 — — 131,328 Risk participation-out agreements 1,843 — 1,843 — — 1,843 Foreign exchange contracts 156 — 156 — — 156 Total $ 133,335 $ — $ 133,335 $ — $ — $ 133,335 Liability derivatives Loan level derivatives $ 131,328 $ — $ 131,328 $ 155,220 $ 11,280 $ (35,172) Risk participation-in agreements 361 — 361 — — 361 Foreign exchange contracts 148 — 148 — — 148 Total $ 131,837 $ — $ 131,837 $ 155,220 $ 11,280 $ (34,663)
Schedule of derivatives designated as hedges and impact on OCIThese provisions provide the counterparty with the right to terminate its derivative positions and require the Company to settle its obligations under the agreements if the Company defaults on certain of its indebtedness or if the Company fails to maintain its status as a well-capitalized institution. Fair Value Three Months Ended Three Months Ended (Dollars in Thousands) Derivatives designated as hedges $ 8 $ — Gain in OCI on derivatives (effective portion), net of tax $ 7 $ — Gain (loss) reclassified from OCI into interest income or interest expense (effective portion) $ 2 $ —

Earnings per Share ("EPS") (Tab

Earnings per Share ("EPS") (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation of basic EPS and diluted EPSThe following table is a reconciliation of basic EPS and diluted EPS: Three Months Ended March 31, 2021 March 31, 2020 Basic Fully Basic Fully (Dollars in Thousands, Except Per Share Amounts) Numerator: Net income $ 26,454 $ 26,454 $ (17,276) $ (17,276) Denominator: Weighted average shares outstanding 78,143,752 78,143,752 79,481,462 79,481,462 Effect of dilutive securities — 260,311 — 184,312 Adjusted weighted average shares outstanding 78,143,752 78,404,063 79,481,462 79,665,774 EPS $ 0.34 $ 0.34 $ (0.22) $ (0.22)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)3 Months Ended
Mar. 31, 2021
Fair value of assets and liabilities
Schedule of quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a recurring basisThe table below presents quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a non-recurring basis at the dates indicated. Fair Value Valuation Technique At March 31, At December 31, 2020 (Dollars in Thousands) Collateral-dependent impaired loans and leases $ 844 $ 3,445 Appraisal of collateral (1) Other real estate owned 5,328 5,415 Appraisal of collateral (1) ________________________________________________________________________ (1) Fair value is generally determined through independent appraisals of the underlying collateral. The Company may also use another available source of collateral assessment to determine a reasonable estimate of the fair value of the collateral. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of the unobservable inputs used may vary but is generally 0% - 10% on the discount for costs to sell and 0% - 15% on appraisal adjustments.
Summary of the carrying values and estimated fair valuesThe following table presents the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company's financial instruments at the dates indicated. This table excludes financial instruments for which the carrying amount approximates fair value. Financial assets for which the fair value approximates carrying value include cash and cash equivalents, restricted equity securities, and accrued interest receivable. Financial liabilities for which the fair value approximates carrying value include non-maturity deposits, short-term borrowings, and accrued interest payable. Fair Value Measurements at March 31, 2021 Carrying Estimated Level 1 Level 2 Level 3 (In Thousands) Financial assets: Loans and leases, net $ 7,157,715 $ 7,122,319 $ — $ — $ 7,122,319 Restricted equity securities 40,400 40,400 — — 40,400 Financial liabilities: Certificates of deposits 1,743,656 1,751,374 — 1,751,374 — Borrowed funds 546,003 539,957 — 539,957 — Fair Value Measurements at December 31, 2020 Carrying Estimated Level 1 Level 2 Level 3 (In Thousands) Financial assets: Loans and leases, net 7,155,174 7,116,854 — — 7,116,854 Restricted equity securities 49,786 49,786 — — 49,786 Financial liabilities: Certificates of deposit 2,083,907 2,092,867 — 2,092,867 — Borrowed funds 820,247 818,681 — 818,681 —
Recurring basis
Fair value of assets and liabilities
Schedule of assets and liabilities measured at fair value on a recurring and non-recurring basisThe following tables set forth the carrying value of assets and liabilities measured at fair value on a recurring basis at the dates indicated: Carrying Value as of March 31, 2021 Level 1 Level 2 Level 3 Total (In Thousands) Assets: Investment securities available-for-sale: GSE debentures $ — $ 271,526 $ — $ 271,526 GSE CMOs — 40,925 — 40,925 GSE MBSs — 276,066 — 276,066 Corporate debt obligations — 23,247 — 23,247 U.S. Treasury bonds — 117,641 — 117,641 Foreign government obligations — 496 — 496 Total investment securities available-for-sale $ — $ 729,901 $ — $ 729,901 Equity securities held-for-trading $ — $ 518 $ — $ 518 Interest rate derivatives — 10 — 10 Loan level derivatives — 84,128 — 84,128 Risk participation-out agreements — 1,019 — 1,019 Foreign exchange contracts — 99 — 99 Liabilities: Interest rate derivatives $ — $ 2 $ — $ 2 Loan level derivatives — 84,128 — 84,128 Risk participation-in agreements — 205 — 205 Foreign exchange contracts — 93 — 93 Carrying Value as of December 31, 2020 Level 1 Level 2 Level 3 Total (In Thousands) Assets: Investment securities available-for-sale: GSE debentures $ — $ 278,645 $ — $ 278,645 GSE CMOs — 46,028 — 46,028 GSE MBSs — 323,609 — 323,609 Corporate debt obligations — 23,467 — 23,467 U.S. Treasury bonds — 73,577 — 73,577 Foreign government obligations — 496 — 496 Total investment securities available-for-sale $ — $ 745,822 $ — $ 745,822 Equity securities held-for-trading $ — $ 526 $ — $ 526 Interest rate derivatives — 8 — 8 Loan level derivatives — 131,328 — 131,328 Risk participation-out agreements — 1,843 — 1,843 Foreign exchange contracts — 156 — 156 Liabilities: Loan level derivatives — 131,328 — 131,328 Risk participation-in agreements — 361 — 361 Foreign exchange contracts — 148 — 148
Nonrecurring basis
Fair value of assets and liabilities
Schedule of assets and liabilities measured at fair value on a recurring and non-recurring basisAssets and liabilities measured at fair value on a non-recurring basis are summarized below at the dated indicated: Carrying Value as of March 31, 2021 Level 1 Level 2 Level 3 Total (In Thousands) Assets measured at fair value on a non-recurring basis: Collateral-dependent impaired loans and leases $ — $ — $ 844 $ 844 OREO — — 5,328 5,328 Repossessed assets — 1,055 — 1,055 Total assets measured at fair value on a non-recurring basis $ — $ 1,055 $ 6,172 $ 7,227 Carrying Value as of December 31, 2020 Level 1 Level 2 Level 3 Total (In Thousands) Assets measured at fair value on a non-recurring basis: Collateral-dependent impaired loans and leases $ — $ — $ 3,445 $ 3,445 OREO — — 5,415 5,415 Repossessed assets — 1,100 — 1,100 Total assets measured at fair value on a non-recurring basis $ — $ 1,100 $ 8,860 $ 9,960

Commitments and Contingencies (

Commitments and Contingencies (Tables)3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of financial instruments with off-balance sheet riskFinancial instruments with off-balance-sheet risk at the dates indicated follow: At March 31, 2021 At December 31, 2020 (In Thousands) Financial instruments whose contract amounts represent credit risk: Commitments to originate loans and leases: Commercial real estate $ 107,597 $ 174,240 Commercial 105,426 80,291 Residential mortgage 82,366 30,418 Unadvanced portion of loans and leases 826,545 759,053 Unused lines of credit: Home equity 591,377 584,881 Other consumer 41,583 38,954 Other commercial 431 408 Unused letters of credit: Financial standby letters of credit 15,953 14,746 Performance standby letters of credit 6,607 5,903 Commercial and similar letters of credit 5,369 5,105 Loan level derivatives (Notional principal amounts): Receive fixed, pay variable 1,232,482 1,214,146 Pay fixed, receive variable 1,232,482 1,214,146 Risk participation-out agreements 263,430 252,655 Risk participation-in agreements 60,289 60,619 Foreign exchange contracts (Notional amounts): Buys foreign currency, sells U.S. currency 1,416 1,266 Sells foreign currency, buys U.S. currency 1,422 1,273
Schedule of lease cost, supplemental cash flow and supplemental balance sheet informationThree Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) The components of lease expense were as follow: Operating lease cost $ 1,563 $ 1,611 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,579 $ 1,658 At March 31, 2021 At December 31, 2020 (In Thousands) Supplemental balance sheet information related to leases was as follows: Operating Leases Operating lease right-of-use assets $ 23,180 $ 24,143 Operating lease liabilities 23,180 24,143 Weighted Average Remaining Lease Term Operating leases 6.80 6.95 Weighted Average Discount Rate Operating leases 3.2 % 3.2 %
Schedule of maturities of operating leasesA summary of future minimum rental payments under such leases at the dates indicated follows: Minimum Rental Payments March 31, 2021 (In Thousands) Remainder of 2021 $ 4,596 Year ending: 2022 5,569 2023 4,643 2024 3,366 2025 2,343 2026 1,559 Thereafter 3,571 Total $ 25,647 Less imputed interest (2,467) Present value of lease liability $ 23,180

Basis of Presentation (Details)

Basis of Presentation (Details)3 Months Ended
Mar. 31, 2021officebank
Basis of Presentation
Number of full-service banking offices30
Number of lending offices | office2
BankRI
Basis of Presentation
Number of full-service banking offices20

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020Mar. 31, 2020Jan. 01, 2020Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan and lease losses $ 109,837 $ 114,379 $ 113,181 $ 61,082
Reserve for unfunded commitments $ 13,705 $ 13,071
Adoption of ASU 2016-13 (CECL)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan and lease losses $ 6,600 $ 6,632
Reserve for unfunded commitments8,900
Retained earnings $ 11,500

Investment Securities - Summary

Investment Securities - Summary of Available-for-sale and Held-to-maturity Securities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost $ 727,112 $ 724,553
Gross Unrealized Gains13,632 22,000
Gross Unrealized Losses10,843 731
Estimated Fair Value729,901 745,822
Equity securities held-for-trading
Equity securities held-for-trading518 526
GSE debentures
Debt Securities, Available-for-sale [Line Items]
Amortized Cost273,315 273,820
Gross Unrealized Gains4,130 5,455
Gross Unrealized Losses5,919 630
Estimated Fair Value271,526 278,645
GSE CMOs
Debt Securities, Available-for-sale [Line Items]
Amortized Cost39,980 44,937
Gross Unrealized Gains957 1,103
Gross Unrealized Losses12 12
Estimated Fair Value40,925 46,028
GSE MBSs
Debt Securities, Available-for-sale [Line Items]
Amortized Cost271,231 312,658
Gross Unrealized Gains5,981 10,956
Gross Unrealized Losses1,146 5
Estimated Fair Value276,066 323,609
Corporate debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost22,269 22,299
Gross Unrealized Gains978 1,168
Gross Unrealized Losses0 0
Estimated Fair Value23,247 23,467
U.S. Treasury bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost119,817 70,339
Gross Unrealized Gains1,586 3,318
Gross Unrealized Losses3,762 80
Estimated Fair Value117,641 73,577
Foreign government obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost500 500
Gross Unrealized Gains0 0
Gross Unrealized Losses4 4
Estimated Fair Value $ 496 $ 496

Investment Securities - Narrati

Investment Securities - Narrative (Details)3 Months Ended12 Months Ended
Mar. 31, 2021USD ($)securityMar. 31, 2020USD ($)securityDec. 31, 2020USD ($)security
Investment Securities
Investment securities available-for-sale $ 729,901,000 $ 745,822,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss)2,800,000 21,300,000
Debt securities, available-for-sale, unrealized loss position $ 261,614,000 $ 86,894,000
Percentage of securities in unrealized loss positions, available-for-sale securities35.80%11.70%
Debt securities, available-for-sale, unrealized loss position, accumulated loss $ 10,843,000 $ 731,000
Equity securities held-for-trading $ 518,000 526,000
Number of days past due to be placed in nonaccrual status90 days
Purchases of securities available-for-sale $ 49,514,000 $ 273,252,000
Estimated fair value of debt securities have right to call or prepay the obligations88,300,000 90,800,000
Estimated fair value of debt securities have right to call or prepay the obligations, scheduled maturities of after one year through five years12,700,000 12,900,000
Estimated fair value of debt securities have right to call or prepay the obligations, scheduled maturities after five years through ten years66,200,000 68,100,000
Estimated fair value of debt securities have right to call or prepay the obligations, scheduled maturities of which is after 10 years9,400,000 9,800,000
Proceeds from sales of investment securities available-for-sale and equity securities held-for-trading0 86,400,000
Debt Securities, Available-For-Sale
Investment Securities
Accrued interest receivable2,500,000 2,600,000
US Government Sponsored Enterprises Debt Securities Excluding Specified Securities
Investment Securities
Investment securities available-for-sale6,300,000 7,300,000
GSE debentures
Investment Securities
Investment securities available-for-sale271,526,000 278,645,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss) $ (1,800,000) $ 4,800,000
AFS number of positions | security54 54
Number of securities in unrealized loss positions | security12 7
Purchases of securities available-for-sale $ 75,200,000
Number of securities transferred | security9
Amount of transfer $ 25,500,000
GSE CMOs
Investment Securities
Investment securities available-for-sale $ 40,900,000 $ 46,000,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss) $ 900,000 $ 1,100,000
AFS number of positions | security33 33
Number of securities in unrealized loss positions | security2 2
Purchases of securities available-for-sale $ 0 0
GSE MBSs
Investment Securities
Investment securities available-for-sale276,100,000 $ 323,600,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss) $ 4,800,000 $ 11,000,000
AFS number of positions | security139 140
Number of securities in unrealized loss positions | security23 17
Purchases of securities available-for-sale $ 176,900,000
Number of securities transferred | security8
Amount of transfer $ 9,000,000
Corporate debt obligations
Investment Securities
Investment securities available-for-sale $ 23,247,000 $ 23,467,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss) $ 1,000,000 $ 1,200,000
AFS number of positions | security6 6
Number of securities in unrealized loss positions | security0 0
Purchases of securities available-for-sale $ 0 $ 0
Number of securities transferred | security1
Amount of transfer $ 500,000
U.S. Treasury bonds
Investment Securities
Investment securities available-for-sale117,600,000 $ 73,600,000
Debt securities, available-for-sale, accumulated gross unrealized gain (loss) $ (2,200,000) $ 3,200,000
AFS number of positions | security17 12
Number of securities in unrealized loss positions | security8
Purchases of securities available-for-sale $ 49,500,000 21,200,000
Municipal obligations
Investment Securities
Purchases of securities available-for-sale $ 0 $ 0
Number of securities transferred | security0 93 0
Amount of transfer $ 47,700,000
Foreign government obligations
Investment Securities
Investment securities available-for-sale $ 496,000 $ 496,000
AFS number of positions | security1 1
Purchases of securities available-for-sale $ 0 $ 0
Collateral Pledged
Investment Securities
Investment securities pledged as collateral413,500,000 $ 448,700,000
Outstanding borrowings $ 0 $ 0

Investment Securities - Other-T

Investment Securities - Other-Than-Temporary Impairment (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Investment securities available-for-sale:
Less than twelve months, estimated fair value $ 260,316 $ 85,429
Less than twelve months, unrealized losses10,836 722
Twelve months or longer, estimated fair value1,298 1,465
Twelve months or longer, unrealized losses7 9
Total, fair value261,614 86,894
Total, unrealized losses10,843 731
Total temporarily impaired investment securities
Less than twelve months, estimated fair value260,316 85,429
Less than twelve months, unrealized losses10,836 722
Twelve months or longer, estimated fair value1,298 1,465
Twelve months or longer, unrealized losses7 9
Total, estimated fair value261,614 86,894
Total, unrealized losses10,843 731
GSE debentures
Investment securities available-for-sale:
Less than twelve months, estimated fair value118,064 72,745
Less than twelve months, unrealized losses5,919 630
Twelve months or longer, estimated fair value0 0
Twelve months or longer, unrealized losses0 0
Total, fair value118,064 72,745
Total, unrealized losses5,919 630
GSE CMOs
Investment securities available-for-sale:
Less than twelve months, estimated fair value513 832
Less than twelve months, unrealized losses10 7
Twelve months or longer, estimated fair value707 872
Twelve months or longer, unrealized losses2 5
Total, fair value1,220 1,704
Total, unrealized losses12 12
GSE MBSs
Investment securities available-for-sale:
Less than twelve months, estimated fair value70,289 2,102
Less than twelve months, unrealized losses1,145 5
Twelve months or longer, estimated fair value95 97
Twelve months or longer, unrealized losses1 0
Total, fair value70,384 2,199
Total, unrealized losses1,146 5
U.S. Treasury bonds
Investment securities available-for-sale:
Less than twelve months, estimated fair value71,450 9,750
Less than twelve months, unrealized losses3,762 80
Twelve months or longer, estimated fair value0 0
Twelve months or longer, unrealized losses0 0
Total, fair value71,450 9,750
Total, unrealized losses3,762 80
Foreign government obligations
Investment securities available-for-sale:
Less than twelve months, estimated fair value0 0
Less than twelve months, unrealized losses0 0
Twelve months or longer, estimated fair value496 496
Twelve months or longer, unrealized losses4 4
Total, fair value496 496
Total, unrealized losses $ 4 $ 4

Investment Securities - Portfol

Investment Securities - Portfolio Maturities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Available for Sale, Amortized Cost
Within 1 year $ 49,597 $ 31,633
After 1 year through 5 years132,676 146,274
After 5 years through 10 years261,816 222,271
Over 10 years283,023 324,375
Amortized Cost727,112 724,553
Available for Sale, Estimated Fair Value
Within 1 year50,149 32,013
After 1 year through 5 years138,463 153,262
After 5 years through 10 years254,174 225,568
Over 10 years287,115 334,979
Total $ 729,901 $ 745,822
Available for Sale, Weighted Average Rate
Within 1 year1.99%2.02%
After 1 year through 5 years2.23%2.22%
After 5 years through 10 years1.38%1.43%
Over 10 years2.01%1.86%
Total1.84%1.81%

Investment Securities - Securit

Investment Securities - Security Sales (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Proceeds from sale of trust preferred, marketable and restricted equity securities $ 0 $ 86,435
Gross gains from securities sales0 2,446
Gross losses from securities sales0 (93)
Gain on sales of securities, net $ 0 $ 2,353

Loans and Leases - Summary of L

Loans and Leases - Summary of Loan and Lease Balances and Weighted Average Coupon Rates (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 7,267,552 $ 7,269,553
Total weighted average coupon3.84%3.97%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 2,595,240 $ 2,578,773
Multi-family mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases1,000,474 1,013,432
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases194,627 231,621
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases1,206,977 1,131,668
Equipment financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases1,069,621 1,092,461
Condominium association
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases47,604 50,770
Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases781,854 791,317
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases334,706 346,652
Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases36,449 32,859
Commercial real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 3,790,341 $ 3,823,826
Total weighted average coupon3.49%3.56%
Commercial real estate loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 2,595,240 $ 2,578,773
Total weighted average coupon3.48%3.58%
Commercial real estate loans | Multi-family mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,000,474 $ 1,013,432
Total weighted average coupon3.48%3.53%
Commercial real estate loans | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 194,627 $ 231,621
Total weighted average coupon3.60%3.49%
Commercial loans and leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 2,324,202 $ 2,274,899
Total weighted average coupon4.61%4.86%
Commercial loans and leases | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,206,977 $ 1,131,668
Total weighted average coupon2.35%2.55%
Commercial loans and leases | SBA PPP Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 604,790
Commercial loans and leases | Equipment financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,069,621 $ 1,092,461
Total weighted average coupon7.17%7.26%
Commercial loans and leases | Condominium association
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 47,604 $ 50,770
Total weighted average coupon4.54%4.55%
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,153,009 $ 1,170,828
Total weighted average coupon3.53%3.58%
Consumer loans | Residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 781,854 $ 791,317
Total weighted average coupon3.68%3.74%
Consumer loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 334,706 $ 346,652
Total weighted average coupon3.25%3.26%
Consumer loans | Other consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 36,449 $ 32,859
Total weighted average coupon2.92%3.04%

Loans and Leases - Narrative (D

Loans and Leases - Narrative (Details) - USD ($)3 Months Ended
Mar. 31, 2021Dec. 31, 2020Mar. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unamortized deferred loan origination costs $ 5,600,000 $ 4,100,000
Percentage of loans to aggregate outstanding amount in the greater New York/New Jersey Metropolitan area and northeastern states12.70%
Percentage of loans to aggregate outstanding amount in other areas of the United States87.30%
Loans and leases pledged as collateral $ 3,300,000,000 $ 3,500,000,000
Total loans and leases7,267,552,000 7,269,553,000
FRB Borrowings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases0 0
Loans and Leases Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable $ 21,000,000 $ 20,500,000

Allowance for Loan and Lease _3

Allowance for Loan and Lease Losses - Summary of Changes in the Allowance for Loan and Lease Losses and Recorded Investments by Portfolio Segment (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Changes in allowance for loan losses
Balance at the beginning of the period $ 114,379 $ 61,082
Charge-offs(2,143)(2,539)
Recoveries383 305
(Credit) provision for loan and lease losses excluding unfunded commitments(2,782)47,701
Balance at the end of the period109,837 113,181
Provisions for credit losses
Provision for loan and lease losses(2,782)47,701
Unfunded commitments635 6,413
Total (credit) provision for credit losses(2,147)54,114
Adoption of ASU 2016-13 (CECL)
Changes in allowance for loan losses
Balance at the beginning of the period6,632
Commercial Real Estate
Changes in allowance for loan losses
Balance at the beginning of the period80,132 30,285
Charge-offs0 0
Recoveries0 0
(Credit) provision for loan and lease losses excluding unfunded commitments(203)40,200
Balance at the end of the period79,929 82,179
Provisions for credit losses
Provision for loan and lease losses(203)40,200
Commercial Real Estate | Adoption of ASU 2016-13 (CECL)
Changes in allowance for loan losses
Balance at the beginning of the period11,694
Commercial
Changes in allowance for loan losses
Balance at the beginning of the period29,498 24,826
Charge-offs(2,140)(2,527)
Recoveries331 247
(Credit) provision for loan and lease losses excluding unfunded commitments(1,864)6,900
Balance at the end of the period25,825 26,774
Provisions for credit losses
Provision for loan and lease losses(1,864)6,900
Commercial | Adoption of ASU 2016-13 (CECL)
Changes in allowance for loan losses
Balance at the beginning of the period(2,672)
Consumer
Changes in allowance for loan losses
Balance at the beginning of the period4,749 5,971
Charge-offs(3)(12)
Recoveries52 58
(Credit) provision for loan and lease losses excluding unfunded commitments(715)601
Balance at the end of the period4,083 4,228
Provisions for credit losses
Provision for loan and lease losses $ (715)601
Consumer | Adoption of ASU 2016-13 (CECL)
Changes in allowance for loan losses
Balance at the beginning of the period $ (2,390)

Allowance for Loan and Lease _4

Allowance for Loan and Lease Losses - Narrative (Details)3 Months Ended
Mar. 31, 2021USD ($)loanMar. 31, 2020USD ($)loanDec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unfunded credit commitments liability included in other liabilities $ 13,700,000 $ 13,100,000
General allowance for loan and lease losses108,700,000 112,100,000
Specific allowance for loan and lease losses1,100,000 2,300,000
Increase (decrease) in specific portion of the allowance for loan and lease losses(1,200,000)
Number of loans | loan3
(Credit) provision for loan and lease losses excluding unfunded commitments(2,782,000) $ 47,701,000
Total loans and leases7,267,552,000 7,269,553,000
Interest income on nonaccrual loans0
Increase in total debt restructured loans and leases4,100,000
Total troubled debt restructurings $ 23,063,000 18,959,000
Increase in number of loans | loan2
Recorded investment, at end of period $ 5,000,000 495,000
Financial impact of modification of performing and nonperforming loans600,000 100,000
Commitments to lend funds to debtors owing receivables whose terms had been modified in troubled debt restructurings2,100,000 $ 2,300,000
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases1,206,977,000 1,131,668,000
Equipment financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan5
Total loans and leases1,069,621,000 1,092,461,000
Total troubled debt restructurings $ 1,300,000
Increase in number of loans | loan1
Decreases from TDR loans and leases that were modified $ 1,700,000
Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 6,150,993,000 6,131,584,000
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan2
Total loans and leases $ 194,627,000 231,621,000
Total troubled debt restructurings $ 3,700,000
Increase in number of loans | loan1
Decreases from TDR loans and leases that were modified2,700,000
Loans Granted Short-Term Deferment Status
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,100,000,000
Number of loans | loan4,603
Short-Term Deferment Loans Returned To Payment Status
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 955,600,000
Number of loans | loan4,262
Loans With Short-Term Deferments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 125,700,000
Number of loans | loan341
Percent of total loan balance1.70%
Definite Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases0
Definite Loss | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 0
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
(Credit) provision for loan and lease losses excluding unfunded commitments(1,864,000) $ 6,900,000
Total loans and leases2,324,202,000 2,274,899,000
Commercial loans | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases1,206,977,000 1,131,668,000
Commercial loans | Equipment financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans and leases $ 1,069,621,000 $ 1,092,461,000
Commercial loans | Specific Allowance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan1
(Credit) provision for loan and lease losses excluding unfunded commitments $ 700,000
Commercial loans | Specific Allowance | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan2
(Credit) provision for loan and lease losses excluding unfunded commitments $ 300,000
Commercial loans | Specific Allowance | Equipment financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan1
(Credit) provision for loan and lease losses excluding unfunded commitments $ 100,000

Allowance for Loan and Lease _5

Allowance for Loan and Lease Losses - Credit Quality Information (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Credit Quality Information
Total Loans and Leases $ 7,267,552,000 $ 7,269,553,000
Definite Loss
Credit Quality Information
Total Loans and Leases0
Commercial real estate
Credit Quality Information
Current fiscal year81,213,000 352,832,000
Fiscal year before current fiscal year358,061,000 412,548,000
Two years before current fiscal year394,330,000 282,629,000
Three years before current fiscal year283,214,000 257,047,000
Four years before current fiscal year254,588,000 246,791,000
Prior1,155,738,000 958,887,000
Revolving Loans55,390,000 55,392,000
Revolving Loans Converted to Term Loans12,706,000 12,647,000
Total Loans and Leases2,595,240,000 2,578,773,000
Commercial real estate | Pass
Credit Quality Information
Current fiscal year80,520,000 352,832,000
Fiscal year before current fiscal year357,115,000 412,071,000
Two years before current fiscal year366,961,000 282,629,000
Three years before current fiscal year283,214,000 255,786,000
Four years before current fiscal year252,971,000 243,477,000
Prior1,115,585,000 944,676,000
Revolving Loans55,390,000 55,392,000
Revolving Loans Converted to Term Loans12,645,000 12,585,000
Total Loans and Leases2,524,401,000 2,559,448,000
Commercial real estate | OAEM
Credit Quality Information
Current fiscal year693,000 0
Fiscal year before current fiscal year736,000 477,000
Two years before current fiscal year27,369,000 0
Three years before current fiscal year0 0
Four years before current fiscal year0 3,312,000
Prior35,014,000 8,991,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases63,812,000 12,780,000
Commercial real estate | Substandard
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year210,000 0
Two years before current fiscal year0 0
Three years before current fiscal year0 1,261,000
Four years before current fiscal year1,617,000 2,000
Prior5,139,000 5,220,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans61,000 62,000
Total Loans and Leases7,027,000 6,545,000
Commercial real estate | Doubtful
Credit Quality Information
Current fiscal year0
Fiscal year before current fiscal year0
Two years before current fiscal year0
Three years before current fiscal year0
Four years before current fiscal year0
Prior0
Revolving Loans0
Revolving Loans Converted to Term Loans0
Total Loans and Leases0
Multi-family mortgage
Credit Quality Information
Current fiscal year14,673,000 125,434,000
Fiscal year before current fiscal year124,227,000 136,620,000
Two years before current fiscal year145,143,000 162,180,000
Three years before current fiscal year165,079,000 103,997,000
Four years before current fiscal year99,440,000 127,873,000
Prior419,237,000 306,612,000
Revolving Loans5,218,000 15,845,000
Revolving Loans Converted to Term Loans27,457,000 34,871,000
Total Loans and Leases1,000,474,000 1,013,432,000
Multi-family mortgage | Pass
Credit Quality Information
Current fiscal year14,673,000 125,434,000
Fiscal year before current fiscal year124,227,000 136,620,000
Two years before current fiscal year145,143,000 162,180,000
Three years before current fiscal year165,079,000 103,997,000
Four years before current fiscal year99,440,000 127,873,000
Prior416,861,000 304,224,000
Revolving Loans5,218,000 15,845,000
Revolving Loans Converted to Term Loans27,457,000 34,871,000
Total Loans and Leases998,098,000 1,011,044,000
Multi-family mortgage | OAEM
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year0 0
Two years before current fiscal year0 0
Three years before current fiscal year0 0
Four years before current fiscal year0 0
Prior2,376,000 2,388,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases2,376,000 2,388,000
Construction
Credit Quality Information
Current fiscal year2,272,000 46,249,000
Fiscal year before current fiscal year46,896,000 60,927,000
Two years before current fiscal year51,408,000 112,856,000
Three years before current fiscal year85,292,000 1,799,000
Four years before current fiscal year665,000 5,552,000
Prior3,397,000 404,000
Revolving Loans4,697,000 3,834,000
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases194,627,000 231,621,000
Construction | Pass
Credit Quality Information
Current fiscal year2,272,000 46,249,000
Fiscal year before current fiscal year46,896,000 56,074,000
Two years before current fiscal year46,555,000 112,856,000
Three years before current fiscal year85,292,000 1,799,000
Four years before current fiscal year665,000 2,788,000
Prior632,000 404,000
Revolving Loans4,697,000 3,834,000
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases187,009,000 224,004,000
Construction | Substandard
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year0 4,853,000
Two years before current fiscal year4,853,000 0
Three years before current fiscal year0 0
Four years before current fiscal year0 2,764,000
Prior2,765,000 0
Revolving Loans 0
Revolving Loans Converted to Term Loans 0
Total Loans and Leases7,618,000 7,617,000
Commercial
Credit Quality Information
Current fiscal year237,440,000 574,932,000
Fiscal year before current fiscal year453,212,000 71,128,000
Two years before current fiscal year59,855,000 41,454,000
Three years before current fiscal year37,634,000 62,501,000
Four years before current fiscal year51,994,000 22,149,000
Prior132,552,000 121,344,000
Revolving Loans231,994,000 235,807,000
Revolving Loans Converted to Term Loans2,296,000 2,353,000
Total Loans and Leases1,206,977,000 1,131,668,000
Commercial | Pass
Credit Quality Information
Current fiscal year237,440,000 574,542,000
Fiscal year before current fiscal year451,623,000 66,278,000
Two years before current fiscal year55,419,000 41,325,000
Three years before current fiscal year37,516,000 62,112,000
Four years before current fiscal year35,407,000 22,085,000
Prior129,638,000 113,715,000
Revolving Loans226,438,000 226,495,000
Revolving Loans Converted to Term Loans1,716,000 1,687,000
Total Loans and Leases1,175,197,000 1,108,239,000
Commercial | OAEM
Credit Quality Information
Current fiscal year0 310,000
Fiscal year before current fiscal year1,589,000 4,850,000
Two years before current fiscal year4,436,000 0
Three years before current fiscal year0 0
Four years before current fiscal year16,242,000 35,000
Prior12,000 17,000
Revolving Loans1,840,000 5,382,000
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases24,119,000 10,594,000
Commercial | Substandard
Credit Quality Information
Current fiscal year0 80,000
Fiscal year before current fiscal year0 0
Two years before current fiscal year0 129,000
Three years before current fiscal year118,000 389,000
Four years before current fiscal year345,000 29,000
Prior2,902,000 7,612,000
Revolving Loans3,716,000 3,930,000
Revolving Loans Converted to Term Loans578,000 664,000
Total Loans and Leases7,659,000 12,833,000
Commercial | Doubtful
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year0 0
Two years before current fiscal year0 0
Three years before current fiscal year0 0
Four years before current fiscal year0 0
Prior0 0
Revolving Loans0 0
Revolving Loans Converted to Term Loans2,000 2,000
Total Loans and Leases2,000 2,000
Equipment financing
Credit Quality Information
Current fiscal year65,631,000 332,974,000
Fiscal year before current fiscal year320,088,000 311,746,000
Two years before current fiscal year290,393,000 214,813,000
Three years before current fiscal year191,691,000 125,510,000
Four years before current fiscal year108,857,000 60,033,000
Prior90,537,000 46,173,000
Revolving Loans1,868,000 636,000
Revolving Loans Converted to Term Loans556,000 576,000
Total Loans and Leases1,069,621,000 1,092,461,000
Equipment financing | Pass
Credit Quality Information
Current fiscal year65,631,000 332,375,000
Fiscal year before current fiscal year318,891,000 306,231,000
Two years before current fiscal year286,098,000 209,219,000
Three years before current fiscal year186,109,000 121,845,000
Four years before current fiscal year105,056,000 56,241,000
Prior86,647,000 45,451,000
Revolving Loans1,868,000 636,000
Revolving Loans Converted to Term Loans556,000 576,000
Total Loans and Leases1,050,856,000 1,072,574,000
Equipment financing | OAEM
Credit Quality Information
Current fiscal year0 196,000
Fiscal year before current fiscal year196,000 1,066,000
Two years before current fiscal year1,058,000 290,000
Three years before current fiscal year293,000 93,000
Four years before current fiscal year96,000 609,000
Prior709,000 85,000
Revolving Loans0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases2,352,000 2,339,000
Equipment financing | Substandard
Credit Quality Information
Current fiscal year0 402,000
Fiscal year before current fiscal year1,000,000 4,385,000
Two years before current fiscal year2,787,000 5,280,000
Three years before current fiscal year5,224,000 3,545,000
Four years before current fiscal year3,678,000 1,891,000
Prior2,529,000 631,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases15,218,000 16,134,000
Equipment financing | Doubtful
Credit Quality Information
Current fiscal year0 1,000
Fiscal year before current fiscal year1,000 64,000
Two years before current fiscal year450,000 24,000
Three years before current fiscal year65,000 27,000
Four years before current fiscal year27,000 1,292,000
Prior652,000 6,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases1,195,000 1,414,000
Condominium association
Credit Quality Information
Current fiscal year187,000 6,455,000
Fiscal year before current fiscal year7,409,000 9,918,000
Two years before current fiscal year9,206,000 5,399,000
Three years before current fiscal year5,194,000 7,928,000
Four years before current fiscal year7,385,000 5,325,000
Prior16,875,000 12,682,000
Revolving Loans1,172,000 2,684,000
Revolving Loans Converted to Term Loans176,000 379,000
Total Loans and Leases47,604,000 50,770,000
Condominium association | Pass
Credit Quality Information
Current fiscal year187,000 6,455,000
Fiscal year before current fiscal year7,409,000 9,918,000
Two years before current fiscal year9,206,000 5,399,000
Three years before current fiscal year5,194,000 7,928,000
Four years before current fiscal year7,385,000 5,213,000
Prior16,769,000 12,682,000
Revolving Loans1,172,000 2,684,000
Revolving Loans Converted to Term Loans176,000 379,000
Total Loans and Leases47,498,000 50,658,000
Condominium association | Substandard
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year0 0
Two years before current fiscal year0 0
Three years before current fiscal year0 0
Four years before current fiscal year0 112,000
Prior106,000 0
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases106,000 112,000
Other consumer
Credit Quality Information
Current fiscal year35,000 694,000
Fiscal year before current fiscal year852,000 549,000
Two years before current fiscal year523,000 1,938,000
Three years before current fiscal year1,827,000 32,000
Four years before current fiscal year31,000 570,000
Prior870,000 301,000
Revolving Loans32,295,000 28,755,000
Revolving Loans Converted to Term Loans16,000 20,000
Total Loans and Leases36,449,000 32,859,000
Other consumer | Pass
Credit Quality Information
Current fiscal year35,000 694,000
Fiscal year before current fiscal year852,000 549,000
Two years before current fiscal year523,000 1,938,000
Three years before current fiscal year1,827,000 32,000
Four years before current fiscal year31,000 570,000
Prior869,000 301,000
Revolving Loans32,295,000 28,755,000
Revolving Loans Converted to Term Loans15,000 18,000
Total Loans and Leases36,447,000 32,857,000
Other consumer | Substandard
Credit Quality Information
Current fiscal year0 0
Fiscal year before current fiscal year0 0
Two years before current fiscal year0 0
Three years before current fiscal year0 0
Four years before current fiscal year0 0
Prior1,000 0
Revolving Loans0 0
Revolving Loans Converted to Term Loans1,000 2,000
Total Loans and Leases2,000 2,000
Total
Credit Quality Information
Current fiscal year401,451,000 1,439,570,000
Fiscal year before current fiscal year1,310,745,000 1,003,436,000
Two years before current fiscal year950,858,000 821,269,000
Three years before current fiscal year769,931,000 558,814,000
Four years before current fiscal year522,961,000 468,293,000
Prior1,819,206,000 1,446,403,000
Revolving Loans332,634,000 342,953,000
Revolving Loans Converted to Term Loans43,207,000 50,846,000
Total Loans and Leases6,150,993,000 6,131,584,000
Total | Pass
Credit Quality Information
Current fiscal year400,758,000 1,438,581,000
Fiscal year before current fiscal year1,307,013,000 987,741,000
Two years before current fiscal year909,905,000 815,546,000
Three years before current fiscal year764,231,000 553,499,000
Four years before current fiscal year500,955,000 458,247,000
Prior1,767,001,000 1,421,453,000
Revolving Loans327,078,000 333,641,000
Revolving Loans Converted to Term Loans42,565,000 50,116,000
Total Loans and Leases6,019,506,000 6,058,824,000
Total | OAEM
Credit Quality Information
Current fiscal year693,000 506,000
Fiscal year before current fiscal year2,521,000 6,393,000
Two years before current fiscal year32,863,000 290,000
Three years before current fiscal year293,000 93,000
Four years before current fiscal year16,338,000 3,956,000
Prior38,111,000 11,481,000
Revolving Loans1,840,000 5,382,000
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases92,659,000 28,101,000
Total | Substandard
Credit Quality Information
Current fiscal year0 482,000
Fiscal year before current fiscal year1,210,000 9,238,000
Two years before current fiscal year7,640,000 5,409,000
Three years before current fiscal year5,342,000 5,195,000
Four years before current fiscal year5,640,000 4,798,000
Prior13,442,000 13,463,000
Revolving Loans3,716,000 3,930,000
Revolving Loans Converted to Term Loans640,000 728,000
Total Loans and Leases37,630,000 43,243,000
Total | Doubtful
Credit Quality Information
Current fiscal year0 1,000
Fiscal year before current fiscal year1,000 64,000
Two years before current fiscal year450,000 24,000
Three years before current fiscal year65,000 27,000
Four years before current fiscal year28,000 1,292,000
Prior652,000 6,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans2,000 2,000
Total Loans and Leases1,198,000 1,416,000
Total | Definite Loss
Credit Quality Information
Total Loans and Leases0
Residential
Credit Quality Information
Current fiscal year28,545,000 167,496,000
Fiscal year before current fiscal year168,566,000 136,467,000
Two years before current fiscal year129,559,000 94,357,000
Three years before current fiscal year88,040,000 87,749,000
Four years before current fiscal year80,848,000 65,741,000
Prior280,972,000 233,734,000
Revolving Loans4,002,000 4,442,000
Revolving Loans Converted to Term Loans1,322,000 1,331,000
Total Loans and Leases781,854,000 791,317,000
Residential | Over 700
Credit Quality Information
Current fiscal year22,650,000 119,566,000
Fiscal year before current fiscal year119,549,000 94,300,000
Two years before current fiscal year89,528,000 62,452,000
Three years before current fiscal year57,286,000 53,662,000
Four years before current fiscal year49,514,000 47,327,000
Prior162,830,000 124,999,000
Revolving Loans4,002,000 4,442,000
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases505,359,000 506,748,000
Residential | 661 - 700
Credit Quality Information
Current fiscal year3,036,000 21,820,000
Fiscal year before current fiscal year24,134,000 19,426,000
Two years before current fiscal year18,328,000 10,943,000
Three years before current fiscal year10,110,000 15,616,000
Four years before current fiscal year13,852,000 8,132,000
Prior30,005,000 23,282,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases99,465,000 99,219,000
Residential | 600 and below
Credit Quality Information
Current fiscal year682,000 6,901,000
Fiscal year before current fiscal year6,914,000 5,659,000
Two years before current fiscal year4,700,000 4,763,000
Three years before current fiscal year5,053,000 4,318,000
Four years before current fiscal year4,234,000 4,553,000
Prior16,956,000 13,997,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans0 0
Total Loans and Leases38,539,000 40,191,000
Residential | Data not available
Credit Quality Information
Current fiscal year2,177,000 19,209,000
Fiscal year before current fiscal year17,969,000 17,082,000
Two years before current fiscal year17,003,000 16,199,000
Three years before current fiscal year15,591,000 14,153,000
Four years before current fiscal year13,248,000 5,729,000
Prior71,181,000 71,456,000
Revolving Loans0 0
Revolving Loans Converted to Term Loans1,322,000 1,331,000
Total Loans and Leases138,491,000 145,159,000
Home equity
Credit Quality Information
Current fiscal year604,000 1,788,000
Fiscal year before current fiscal year1,778,000 3,399,000
Two years before current fiscal year2,967,000 3,205,000
Three years before current fiscal year2,985,000 3,349,000
Four years before current fiscal year2,780,000 1,254,000
Prior16,553,000 17,525,000
Revolving Loans302,094,000 310,363,000
Revolving Loans Converted to Term Loans4,945,000 5,769,000
Total Loans and Leases334,706,000 346,652,000
Home equity | Over 700
Credit Quality Information
Current fiscal year553,000 1,546,000
Fiscal year before current fiscal year1,534,000 2,832,000
Two years before current fiscal year2,421,000 2,440,000
Three years before current fiscal year2,249,000 2,770,000
Four years before current fiscal year2,507,000 910,000
Prior12,331,000 12,804,000
Revolving Loans239,483,000 247,538,000
Revolving Loans Converted to Term Loans2,303,000 2,397,000
Total Loans and Leases263,381,000 273,237,000
Home equity | 661 - 700
Credit Quality Information
Current fiscal year51,000 122,000
Fiscal year before current fiscal year118,000 459,000
Two years before current fiscal year440,000 499,000
Three years before current fiscal year476,000 566,000
Four years before current fiscal year260,000 305,000
Prior2,354,000 2,793,000
Revolving Loans44,625,000 45,356,000
Revolving Loans Converted to Term Loans616,000 1,334,000
Total Loans and Leases48,940,000 51,434,000
Home equity | 600 and below
Credit Quality Information
Current fiscal year0 59,000
Fiscal year before current fiscal year58,000 108,000
Two years before current fiscal year106,000 266,000
Three years before current fiscal year260,000 13,000
Four years before current fiscal year13,000 39,000
Prior550,000 541,000
Revolving Loans10,267,000 10,139,000
Revolving Loans Converted to Term Loans1,058,000 878,000
Total Loans and Leases12,312,000 12,043,000
Home equity | Data not available
Credit Quality Information
Current fiscal year0 61,000
Fiscal year before current fiscal year68,000 0
Two years before current fiscal year0 0
Three years before current fiscal year0 0
Four years before current fiscal year0 0
Prior1,318,000 1,387,000
Revolving Loans7,719,000 7,330,000
Revolving Loans Converted to Term Loans968,000 1,160,000
Total Loans and Leases $ 10,073,000 $ 9,938,000

Allowance for Loan and Lease _6

Allowance for Loan and Lease Losses - Past Due Loans (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Age analysis of past due loans
Past Due $ 45,921 $ 82,574
Current7,221,631 7,186,979
Total Loans and Leases7,267,552 7,269,553
Past Due Greater Than 90 Days and Accruing1,179 11,975
Non-accrual31,019 38,448
Non-accrual with No Related Allowance16,820 22,811
Commercial real estate
Age analysis of past due loans
Total Loans and Leases2,595,240 2,578,773
Multi-family mortgage
Age analysis of past due loans
Total Loans and Leases1,000,474 1,013,432
Construction
Age analysis of past due loans
Total Loans and Leases194,627 231,621
Commercial
Age analysis of past due loans
Total Loans and Leases1,206,977 1,131,668
Equipment financing
Age analysis of past due loans
Total Loans and Leases1,069,621 1,092,461
Condominium association
Age analysis of past due loans
Total Loans and Leases47,604 50,770
Residential mortgage
Age analysis of past due loans
Total Loans and Leases781,854 791,317
Home equity
Age analysis of past due loans
Total Loans and Leases334,706 346,652
Other consumer
Age analysis of past due loans
Total Loans and Leases36,449 32,859
Commercial real estate loans
Age analysis of past due loans
Past Due21,559 46,398
Current3,768,782 3,777,428
Total Loans and Leases3,790,341 3,823,826
Past Due Greater Than 90 Days and Accruing0 8,486
Non-accrual7,464 7,153
Non-accrual with No Related Allowance6,755 6,433
Commercial real estate loans | Commercial real estate
Age analysis of past due loans
Past Due12,801 37,968
Current2,582,439 2,540,805
Total Loans and Leases2,595,240 2,578,773
Past Due Greater Than 90 Days and Accruing0 4,722
Non-accrual3,611 3,300
Non-accrual with No Related Allowance2,902 2,580
Commercial real estate loans | Multi-family mortgage
Age analysis of past due loans
Past Due1,141 813
Current999,333 1,012,619
Total Loans and Leases1,000,474 1,013,432
Past Due Greater Than 90 Days and Accruing0 0
Non-accrual0 0
Non-accrual with No Related Allowance0 0
Commercial real estate loans | Construction
Age analysis of past due loans
Past Due7,617 7,617
Current187,010 224,004
Total Loans and Leases194,627 231,621
Past Due Greater Than 90 Days and Accruing0 3,764
Non-accrual3,853 3,853
Non-accrual with No Related Allowance3,853 3,853
Commercial loans and leases
Age analysis of past due loans
Past Due17,068 28,129
Current2,307,134 2,246,770
Total Loans and Leases2,324,202 2,274,899
Past Due Greater Than 90 Days and Accruing1,175 3,486
Non-accrual19,039 24,571
Non-accrual with No Related Allowance6,248 10,437
Commercial loans and leases | Commercial
Age analysis of past due loans
Past Due1,442 9,926
Current1,205,535 1,121,742
Total Loans and Leases1,206,977 1,131,668
Past Due Greater Than 90 Days and Accruing62 3,486
Non-accrual3,161 7,702
Non-accrual with No Related Allowance1,882 6,263
Commercial loans and leases | Equipment financing
Age analysis of past due loans
Past Due15,626 17,624
Current1,053,995 1,074,837
Total Loans and Leases1,069,621 1,092,461
Past Due Greater Than 90 Days and Accruing1,113 0
Non-accrual15,772 16,757
Non-accrual with No Related Allowance4,260 4,062
Commercial loans and leases | Condominium association
Age analysis of past due loans
Past Due0 579
Current47,604 50,191
Total Loans and Leases47,604 50,770
Past Due Greater Than 90 Days and Accruing0 0
Non-accrual106 112
Non-accrual with No Related Allowance106 112
Consumer loans
Age analysis of past due loans
Past Due7,294 8,047
Current1,145,715 1,162,781
Total Loans and Leases1,153,009 1,170,828
Past Due Greater Than 90 Days and Accruing4 3
Non-accrual4,516 6,724
Non-accrual with No Related Allowance3,817 5,941
Consumer loans | Residential mortgage
Age analysis of past due loans
Past Due5,692 6,650
Current776,162 784,667
Total Loans and Leases781,854 791,317
Past Due Greater Than 90 Days and Accruing0 0
Non-accrual3,722 5,587
Non-accrual with No Related Allowance3,260 5,117
Consumer loans | Home equity
Age analysis of past due loans
Past Due1,588 1,383
Current333,118 345,269
Total Loans and Leases334,706 346,652
Past Due Greater Than 90 Days and Accruing4 3
Non-accrual792 1,136
Non-accrual with No Related Allowance557 824
Consumer loans | Other consumer
Age analysis of past due loans
Past Due14 14
Current36,435 32,845
Total Loans and Leases36,449 32,859
Past Due Greater Than 90 Days and Accruing0 0
Non-accrual2 1
Non-accrual with No Related Allowance0 0
31-60 days past due
Age analysis of past due loans
Past Due17,680 28,564
31-60 days past due | Commercial real estate loans
Age analysis of past due loans
Past Due10,394 19,107
31-60 days past due | Commercial real estate loans | Commercial real estate
Age analysis of past due loans
Past Due5,489 18,294
31-60 days past due | Commercial real estate loans | Multi-family mortgage
Age analysis of past due loans
Past Due1,141 813
31-60 days past due | Commercial real estate loans | Construction
Age analysis of past due loans
Past Due3,764 0
31-60 days past due | Commercial loans and leases
Age analysis of past due loans
Past Due4,239 6,703
31-60 days past due | Commercial loans and leases | Commercial
Age analysis of past due loans
Past Due229 451
31-60 days past due | Commercial loans and leases | Equipment financing
Age analysis of past due loans
Past Due4,010 5,970
31-60 days past due | Commercial loans and leases | Condominium association
Age analysis of past due loans
Past Due0 282
31-60 days past due | Consumer loans
Age analysis of past due loans
Past Due3,047 2,754
31-60 days past due | Consumer loans | Residential mortgage
Age analysis of past due loans
Past Due1,979 2,161
31-60 days past due | Consumer loans | Home equity
Age analysis of past due loans
Past Due1,056 580
31-60 days past due | Consumer loans | Other consumer
Age analysis of past due loans
Past Due12 13
61-90 days past due
Age analysis of past due loans
Past Due6,522 16,129
61-90 days past due | Commercial real estate loans
Age analysis of past due loans
Past Due3,946 12,402
61-90 days past due | Commercial real estate loans | Commercial real estate
Age analysis of past due loans
Past Due3,946 12,402
61-90 days past due | Commercial real estate loans | Multi-family mortgage
Age analysis of past due loans
Past Due0 0
61-90 days past due | Commercial real estate loans | Construction
Age analysis of past due loans
Past Due0 0
61-90 days past due | Commercial loans and leases
Age analysis of past due loans
Past Due2,115 2,864
61-90 days past due | Commercial loans and leases | Commercial
Age analysis of past due loans
Past Due0 304
61-90 days past due | Commercial loans and leases | Equipment financing
Age analysis of past due loans
Past Due2,115 2,263
61-90 days past due | Commercial loans and leases | Condominium association
Age analysis of past due loans
Past Due0 297
61-90 days past due | Consumer loans
Age analysis of past due loans
Past Due461 863
61-90 days past due | Consumer loans | Residential mortgage
Age analysis of past due loans
Past Due459 648
61-90 days past due | Consumer loans | Home equity
Age analysis of past due loans
Past Due1 215
61-90 days past due | Consumer loans | Other consumer
Age analysis of past due loans
Past Due1 0
Greater than 90 days past due
Age analysis of past due loans
Past Due21,719 37,881
Greater than 90 days past due | Commercial real estate loans
Age analysis of past due loans
Past Due7,219 14,889
Greater than 90 days past due | Commercial real estate loans | Commercial real estate
Age analysis of past due loans
Past Due3,366 7,272
Greater than 90 days past due | Commercial real estate loans | Multi-family mortgage
Age analysis of past due loans
Past Due0 0
Greater than 90 days past due | Commercial real estate loans | Construction
Age analysis of past due loans
Past Due3,853 7,617
Greater than 90 days past due | Commercial loans and leases
Age analysis of past due loans
Past Due10,714 18,562
Greater than 90 days past due | Commercial loans and leases | Commercial
Age analysis of past due loans
Past Due1,213 9,171
Greater than 90 days past due | Commercial loans and leases | Equipment financing
Age analysis of past due loans
Past Due9,501 9,391
Greater than 90 days past due | Commercial loans and leases | Condominium association
Age analysis of past due loans
Past Due0 0
Greater than 90 days past due | Consumer loans
Age analysis of past due loans
Past Due3,786 4,430
Greater than 90 days past due | Consumer loans | Residential mortgage
Age analysis of past due loans
Past Due3,254 3,841
Greater than 90 days past due | Consumer loans | Home equity
Age analysis of past due loans
Past Due531 588
Greater than 90 days past due | Consumer loans | Other consumer
Age analysis of past due loans
Past Due $ 1 $ 1

Allowance for Loan and Lease _7

Allowance for Loan and Lease Losses - Recorded Investment (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020Mar. 31, 2020Dec. 31, 2019
Recorded investment in loans and leases by portfolio segment
Individually evaluated for impairment, allowance $ 1,133 $ 2,311
Collectively evaluated for impairment, allowance108,704 112,068
Total, Allowance109,837 114,379 $ 113,181 $ 61,082
Individually evaluated, loans and leases41,539 47,646
Collectively evaluated, loans and leases7,226,013 7,221,907
Total Loans and Leases7,267,552 7,269,553
Commercial real estate loans
Recorded investment in loans and leases by portfolio segment
Individually evaluated for impairment, allowance132 183
Collectively evaluated for impairment, allowance79,797 79,949
Total, Allowance79,929 80,132 82,179 30,285
Individually evaluated, loans and leases14,927 14,159
Collectively evaluated, loans and leases3,775,414 3,809,667
Total Loans and Leases3,790,341 3,823,826
Commercial
Recorded investment in loans and leases by portfolio segment
Individually evaluated for impairment, allowance907 2,020
Collectively evaluated for impairment, allowance24,918 27,478
Total, Allowance25,825 29,498 26,774 24,826
Individually evaluated, loans and leases20,198 24,727
Collectively evaluated, loans and leases2,304,004 2,250,172
Total Loans and Leases2,324,202 2,274,899
Consumer
Recorded investment in loans and leases by portfolio segment
Individually evaluated for impairment, allowance94 108
Collectively evaluated for impairment, allowance3,989 4,641
Total, Allowance4,083 4,749 $ 4,228 $ 5,971
Individually evaluated, loans and leases6,414 8,760
Collectively evaluated, loans and leases1,146,595 1,162,068
Total Loans and Leases $ 1,153,009 $ 1,170,828

Allowance for Loan and Lease _8

Allowance for Loan and Lease Losses - Troubled Debt Restructurings (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)loanMar. 31, 2020USD ($)loanDec. 31, 2020USD ($)
Receivables [Abstract]
On accrual $ 16,770 $ 11,483
On nonaccrual6,293 7,476
Total troubled debt restructurings23,063 $ 18,959
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan3
Recorded investment, at modification $ 497
Recorded investment, at end of period5,000 495
Specific Allowance for Credit Losses0
Nonaccrual Loans and Leases $ 295
Defaulted, number of loans/leases | loan1
Defaulted, recorded investment $ 228
Types of modification4,993 495
Extended maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Types of modification4,300 295
Combination maturity, principal, interest rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Types of modification693 $ 200
Construction
Receivables [Abstract]
Total troubled debt restructurings $ 3,700
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan2
Equipment financing
Receivables [Abstract]
Total troubled debt restructurings $ 1,300
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan5
Originated
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan17
Recorded investment, at modification $ 4,979
Recorded investment, at end of period4,992
Specific Allowance for Credit Losses0
Nonaccrual Loans and Leases $ 234
Defaulted, number of loans/leases | loan0
Defaulted, recorded investment $ 0
Originated | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan1 0
Recorded investment, at modification $ 497 $ 0
Recorded investment, at end of period497
Specific Allowance for Credit Losses0 0
Nonaccrual Loans and Leases $ 0 $ 0
Defaulted, number of loans/leases | loan0 1
Defaulted, recorded investment $ 0 $ 228
Originated | Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan4
Recorded investment, at modification $ 2,764
Recorded investment, at end of period2,764
Specific Allowance for Credit Losses
Nonaccrual Loans and Leases
Defaulted, number of loans/leases | loan
Defaulted, recorded investment
Originated | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan1
Recorded investment, at modification $ 297
Recorded investment, at end of period295
Specific Allowance for Credit Losses0
Nonaccrual Loans and Leases $ 295
Defaulted, number of loans/leases | loan0
Defaulted, recorded investment $ 0
Originated | Equipment financing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans/ Leases | loan12 2
Recorded investment, at modification $ 1,718 $ 200
Recorded investment, at end of period1,731 200
Specific Allowance for Credit Losses0 0
Nonaccrual Loans and Leases $ 234 $ 0
Defaulted, number of loans/leases | loan0 0
Defaulted, recorded investment $ 0 $ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Value of Goodwill and Other Intangible Assets (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill $ 160,427 $ 160,427 $ 160,427
Total other intangible assets2,920 3,152
Total goodwill and other intangible assets163,347 163,579
Core deposits
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets1,831 2,063
Trade name
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets $ 1,089 $ 1,089

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2013
Core deposits
Indefinite-lived Intangible Assets [Line Items]
Weighted-average amortization period5 years 6 months
Trade name
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets $ 1.1

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in ThousandsMar. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021 $ 644
Year ending:
2022494
2023263
2024151
2025103
202674
Thereafter102
Total $ 1,831

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Changes in accumulated other comprehensive (loss) income by component, net of tax
Balance beginning $ 941,778 $ 945,606
Other comprehensive income (loss)(14,406)14,664
Reclassification adjustment for (income) expense recognized in earnings(2)
Balance ending945,399 912,568
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive (loss) income by component, net of tax
Balance beginning16,490 2,283
Balance ending2,082 16,947
Investment Securities Available-for-Sale
Changes in accumulated other comprehensive (loss) income by component, net of tax
Balance beginning16,582 2,199
Other comprehensive income (loss)(14,408)14,664
Reclassification adjustment for (income) expense recognized in earnings0
Balance ending2,174 16,863
Net Change in Fair Value of Cash Flow Hedges
Changes in accumulated other comprehensive (loss) income by component, net of tax
Balance beginning7 0
Other comprehensive income (loss)2 0
Reclassification adjustment for (income) expense recognized in earnings(2)
Balance ending7 0
Postretirement Benefits
Changes in accumulated other comprehensive (loss) income by component, net of tax
Balance beginning(99)84
Other comprehensive income (loss)0 0
Reclassification adjustment for (income) expense recognized in earnings0
Balance ending $ (99) $ 84

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Weighted average interest rate0.08%
Derivative term of contract2 years
Collateral posted $ 149.4 $ 166.5

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Customer Related Derivative Positions (Details) $ in ThousandsMar. 31, 2021USD ($)derivativeDec. 31, 2020USD ($)derivative
Receive fixed, pay variable
Derivatives and Hedging Activities
Total $ 1,232,482 $ 1,214,146
Receive fixed, pay variable | Derivatives not designed as hedging instruments
Derivatives and Hedging Activities
Number of Positions | derivative134 136
Notional Amount Maturing, Less than 1 year $ 0 $ 0
Notional Amount Maturing, Less than 2 years10,876 8,541
Notional Amount Maturing, Less than 3 years13,949 16,447
Notional Amount Maturing, Less than 4 years118,504 99,014
Notional Amount Maturing, Thereafter1,089,153 1,090,144
Total1,232,482 1,214,146
Fair Value71,310 129,284
Pay fixed, receive variable
Derivatives and Hedging Activities
Total $ 1,232,482 $ 1,214,146
Pay fixed, receive variable | Derivatives not designed as hedging instruments
Derivatives and Hedging Activities
Number of Positions | derivative134 136
Notional Amount Maturing, Less than 1 year $ 0 $ 0
Notional Amount Maturing, Less than 2 years10,876 8,541
Notional Amount Maturing, Less than 3 years13,949 16,447
Notional Amount Maturing, Less than 4 years118,504 99,014
Notional Amount Maturing, Thereafter1,089,153 1,090,144
Total1,232,482 1,214,146
Fair Value71,310 129,284
Risk participation-out agreements
Derivatives and Hedging Activities
Total $ 263,430 $ 252,655
Risk participation-out agreements | Derivatives not designed as hedging instruments
Derivatives and Hedging Activities
Number of Positions | derivative37 37
Notional Amount Maturing, Less than 1 year $ 0 $ 0
Notional Amount Maturing, Less than 2 years0 0
Notional Amount Maturing, Less than 3 years6,975 7,009
Notional Amount Maturing, Less than 4 years22,718 22,733
Notional Amount Maturing, Thereafter233,737 222,913
Total263,430 252,655
Fair Value1,019 1,843
Risk participation-in agreements
Derivatives and Hedging Activities
Total $ 60,289 $ 60,619
Risk participation-in agreements | Derivatives not designed as hedging instruments
Derivatives and Hedging Activities
Number of Positions | derivative8 8
Notional Amount Maturing, Less than 1 year $ 0 $ 0
Notional Amount Maturing, Less than 2 years0 0
Notional Amount Maturing, Less than 3 years18,929 19,000
Notional Amount Maturing, Less than 4 years0 0
Notional Amount Maturing, Thereafter41,360 41,619
Total60,289 60,619
Fair Value205 361
Foreign exchange contracts | Buys foreign currency, sells U.S. currency
Derivatives and Hedging Activities
Total1,416 1,266
Foreign exchange contracts | Sells foreign currency, buys U.S. currency
Derivatives and Hedging Activities
Total $ 1,422 $ 1,273
Foreign exchange contracts | Derivatives not designed as hedging instruments | Buys foreign currency, sells U.S. currency
Derivatives and Hedging Activities
Number of Positions | derivative16 18
Notional Amount Maturing, Less than 1 year $ 1,416 $ 1,266
Notional Amount Maturing, Less than 2 years0 0
Notional Amount Maturing, Less than 3 years0 0
Notional Amount Maturing, Less than 4 years0 0
Notional Amount Maturing, Thereafter0 0
Total1,416 1,266
Fair Value $ 99 $ 156
Foreign exchange contracts | Derivatives not designed as hedging instruments | Sells foreign currency, buys U.S. currency
Derivatives and Hedging Activities
Number of Positions | derivative21 20
Notional Amount Maturing, Less than 1 year $ 1,422 $ 1,273
Notional Amount Maturing, Less than 2 years0 0
Notional Amount Maturing, Less than 3 years0 0
Notional Amount Maturing, Less than 4 years0 0
Notional Amount Maturing, Thereafter0 0
Total1,422 1,273
Fair Value $ 93 $ 148

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Offsetting of Derivatives and Amounts Subject to Master Netting Agreements (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Asset derivatives
Assets, Gross Amounts Recognized $ 85,256 $ 133,335
Assets, Gross Amounts Offset in the Statement of Financial Position0 0
Assets, Net Amounts Presented in the Statement of Financial Position85,256 133,335
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0 0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0 0
Assets, Net Amount85,256 133,335
Liability derivatives
Liabilities, Gross Amounts Recognized84,428 131,837
Liabilities, Gross Amounts Offset in the Statement of Financial Position0 0
Liabilities, Net Amounts Presented in the Statement of Financial Position84,428 131,837
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged138,110 155,220
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged11,280 11,280
Liabilities, Net Amount(64,962)(34,663)
Interest rate derivatives
Asset derivatives
Assets, Gross Amounts Recognized8
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position8
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount8
Loan level derivatives
Asset derivatives
Assets, Gross Amounts Recognized131,328
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position131,328
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount131,328
Liability derivatives
Liabilities, Gross Amounts Recognized131,328
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position131,328
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged155,220
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged11,280
Liabilities, Net Amount(35,172)
Risk participation-out agreements
Asset derivatives
Assets, Gross Amounts Recognized1,843
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position1,843
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount1,843
Risk participation-in agreements
Liability derivatives
Liabilities, Gross Amounts Recognized361
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position361
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Liabilities, Net Amount361
Foreign exchange contracts
Asset derivatives
Assets, Gross Amounts Recognized156
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position156
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount156
Liability derivatives
Liabilities, Gross Amounts Recognized148
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position148
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Liabilities, Net Amount $ 148
Designated as hedging instrument | Interest rate derivatives
Asset derivatives
Assets, Gross Amounts Recognized10
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position10
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount10
Liability derivatives
Liabilities, Gross Amounts Recognized2
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position2
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Liabilities, Net Amount2
Derivatives not designed as hedging instruments | Loan level derivatives
Asset derivatives
Assets, Gross Amounts Recognized84,128
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position84,128
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount84,128
Liability derivatives
Liabilities, Gross Amounts Recognized84,128
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position84,128
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged138,110
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged11,280
Liabilities, Net Amount(65,262)
Derivatives not designed as hedging instruments | Risk participation-out agreements
Asset derivatives
Assets, Gross Amounts Recognized1,019
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position1,019
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount1,019
Derivatives not designed as hedging instruments | Risk participation-in agreements
Liability derivatives
Liabilities, Gross Amounts Recognized205
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position205
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Liabilities, Net Amount205
Derivatives not designed as hedging instruments | Foreign exchange contracts
Asset derivatives
Assets, Gross Amounts Recognized99
Assets, Gross Amounts Offset in the Statement of Financial Position0
Assets, Net Amounts Presented in the Statement of Financial Position99
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Assets, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Assets, Net Amount99
Liability derivatives
Liabilities, Gross Amounts Recognized93
Liabilities, Gross Amounts Offset in the Statement of Financial Position0
Liabilities, Net Amounts Presented in the Statement of Financial Position93
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments Pledged0
Liabilities, Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Pledged0
Liabilities, Net Amount $ 93

Derivative and Hedging Activiti

Derivative and Hedging Activities - Schedule of Gain (Loss) of Derivatives (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives designated as hedges $ 8 $ 0
Gain in OCI on derivatives (effective portion), net of tax7 0
Gain (loss) reclassified from OCI into interest income or interest expense (effective portion) $ 2 $ 0

Stock Based Compensation (Detai

Stock Based Compensation (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)financial_institutionplansharesMar. 31, 2020USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan2
Shares issued upon satisfaction of required conditions of the Plans (in shares)0 0
Performance-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of financial institutions comprising peer group | financial_institution14
Vesting equally over three years | Time-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of shares in tranche50.00%
Award vesting period3 years
Vesting, first anniversary | Time-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage33.33%
Vesting, second anniversary | Time-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage33.33%
Vesting, third anniversary | Time-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage33.33%
Vesting after achievement of performance targets | Performance-based shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of shares in tranche50.00%
Award vesting period3 years
Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of authorized shares (in shares)1,750,000
Share-based compensation expense | $ $ 0.5 $ 0.6
2011 Restricted stock award plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of authorized shares (in shares)500,000

Earnings per Share ("EPS") (Det

Earnings per Share ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Numerator:
Net income $ 26,454 $ (17,276)
Denominator:
Weighted average shares outstanding (in shares)78,143,752 79,481,462
Effect of dilutive securities (in shares)260,311 184,312
Adjusted weighted average shares outstanding (in shares)78,404,063 79,665,774
Basic EPS (in dollars per share) $ 0.34 $ (0.22)
Diluted EPS (in dollars per share) $ 0.34 $ (0.22)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying and Fair Value of Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Assets:
Investment securities available-for-sale $ 729,901 $ 745,822
Equity securities held-for-trading518 526
Derivatives85,256 133,335
Liabilities:
Derivatives $ 84,428 131,837
Changes in generic pricing of securities period one, considered for analyzing changes in prices obtained from pricing service15 years
Changes in generic pricing of securities period two, considered for analyzing changes in prices obtained from pricing service30 years
Recurring basis
Assets:
Equity securities held-for-trading $ 518 526
Recurring basis | Level 1
Assets:
Equity securities held-for-trading0 0
Recurring basis | Level 2
Assets:
Equity securities held-for-trading518 526
Recurring basis | Level 3
Assets:
Equity securities held-for-trading0 0
Investment securities available for sale | Recurring basis
Assets:
Investment securities available-for-sale729,901 745,822
Investment securities available for sale | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
Investment securities available for sale | Recurring basis | Level 2
Assets:
Investment securities available-for-sale729,901 745,822
Investment securities available for sale | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
GSE debentures
Assets:
Investment securities available-for-sale271,526 278,645
GSE debentures | Recurring basis
Assets:
Investment securities available-for-sale271,526 278,645
GSE debentures | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
GSE debentures | Recurring basis | Level 2
Assets:
Investment securities available-for-sale271,526 278,645
GSE debentures | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
GSE CMOs
Assets:
Investment securities available-for-sale40,925 46,028
GSE CMOs | Recurring basis
Assets:
Investment securities available-for-sale40,925 46,028
GSE CMOs | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
GSE CMOs | Recurring basis | Level 2
Assets:
Investment securities available-for-sale40,925 46,028
GSE CMOs | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
GSE MBSs
Assets:
Investment securities available-for-sale276,066 323,609
GSE MBSs | Recurring basis
Assets:
Investment securities available-for-sale276,066 323,609
GSE MBSs | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
GSE MBSs | Recurring basis | Level 2
Assets:
Investment securities available-for-sale276,066 323,609
GSE MBSs | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
Corporate debt obligations
Assets:
Investment securities available-for-sale23,247 23,467
Corporate debt obligations | Recurring basis
Assets:
Investment securities available-for-sale23,247 23,467
Corporate debt obligations | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
Corporate debt obligations | Recurring basis | Level 2
Assets:
Investment securities available-for-sale23,247 23,467
Corporate debt obligations | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
U.S. Treasury bonds
Assets:
Investment securities available-for-sale117,600 73,600
U.S. Treasury bonds | Recurring basis
Assets:
Investment securities available-for-sale117,641 73,577
U.S. Treasury bonds | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
U.S. Treasury bonds | Recurring basis | Level 2
Assets:
Investment securities available-for-sale117,641 73,577
U.S. Treasury bonds | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
Foreign government obligations
Assets:
Investment securities available-for-sale496 496
Foreign government obligations | Recurring basis
Assets:
Investment securities available-for-sale496 496
Foreign government obligations | Recurring basis | Level 1
Assets:
Investment securities available-for-sale0 0
Foreign government obligations | Recurring basis | Level 2
Assets:
Investment securities available-for-sale496 496
Foreign government obligations | Recurring basis | Level 3
Assets:
Investment securities available-for-sale0 0
Interest rate derivatives | Recurring basis
Assets:
Derivatives10 8
Liabilities:
Derivatives2
Interest rate derivatives | Recurring basis | Level 1
Assets:
Derivatives0 0
Liabilities:
Derivatives0
Interest rate derivatives | Recurring basis | Level 2
Assets:
Derivatives10 8
Liabilities:
Derivatives2
Interest rate derivatives | Recurring basis | Level 3
Assets:
Derivatives0 0
Liabilities:
Derivatives0
Loan level derivatives | Recurring basis
Assets:
Derivatives84,128 131,328
Liabilities:
Derivatives84,128 131,328
Loan level derivatives | Recurring basis | Level 1
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Loan level derivatives | Recurring basis | Level 2
Assets:
Derivatives84,128 131,328
Liabilities:
Derivatives84,128 131,328
Loan level derivatives | Recurring basis | Level 3
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Risk participation-out agreements | Recurring basis
Assets:
Derivatives1,019 1,843
Risk participation-out agreements | Recurring basis | Level 1
Assets:
Derivatives0 0
Risk participation-out agreements | Recurring basis | Level 2
Assets:
Derivatives1,019 1,843
Risk participation-out agreements | Recurring basis | Level 3
Assets:
Derivatives0 0
Risk participation-in agreements | Recurring basis
Liabilities:
Derivatives205 361
Risk participation-in agreements | Recurring basis | Level 1
Liabilities:
Derivatives0 0
Risk participation-in agreements | Recurring basis | Level 2
Liabilities:
Derivatives205 361
Risk participation-in agreements | Recurring basis | Level 3
Liabilities:
Derivatives0 0
Foreign exchange contracts | Recurring basis
Assets:
Derivatives99 156
Liabilities:
Derivatives93 148
Foreign exchange contracts | Recurring basis | Level 1
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Foreign exchange contracts | Recurring basis | Level 2
Assets:
Derivatives99 156
Liabilities:
Derivatives93 148
Foreign exchange contracts | Recurring basis | Level 3
Assets:
Derivatives0 0
Liabilities:
Derivatives $ 0 $ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis (Details) - Nonrecurring basis - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis $ 7,227 $ 9,960
Level 1
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
Level 2
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis1,055 1,100
Level 3
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis6,172 8,860
Collateral-dependent impaired loans and leases
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis844 3,445
Collateral-dependent impaired loans and leases | Level 1
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
Collateral-dependent impaired loans and leases | Level 2
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
Collateral-dependent impaired loans and leases | Level 3
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis844 3,445
OREO
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis5,328 5,415
OREO | Level 1
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
OREO | Level 2
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
OREO | Level 3
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis5,328 5,415
Repossessed assets
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis1,055 1,100
Repossessed assets | Level 1
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis0 0
Repossessed assets | Level 2
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis1,055 1,100
Repossessed assets | Level 3
Fair value of assets and liabilities
Total assets measured at fair value on a non-recurring basis $ 0 $ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Quantitative Information for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Nonrecurring basis
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets $ 7,227 $ 9,960
Level 3 | Discount for costs to sell | Minimum
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value inputs, basis spread0.00%
Level 3 | Discount for costs to sell | Maximum
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value inputs, basis spread10.00%
Level 3 | Appraisal Adjustments | Minimum
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value inputs, basis spread0.00%
Level 3 | Appraisal Adjustments | Maximum
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value inputs, basis spread15.00%
Level 3 | Nonrecurring basis
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets $ 6,172 8,860
Collateral-dependent impaired loans and leases | Level 3 | Nonrecurring basis | Appraisal of collateral
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets844 3,445
Other real estate owned | Nonrecurring basis
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets5,328 5,415
Other real estate owned | Level 3 | Nonrecurring basis
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets5,328 5,415
Other real estate owned | Level 3 | Recurring basis | Appraisal of collateral
Quantitative information for Level 3 Fair Value Measurements Assets
Fair value of assets $ 5,328 $ 5,415

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financial assets:
Loans and leases, net $ 7,157,715 $ 7,155,174
Restricted equity securities40,400 49,786
Financial liabilities:
Borrowed funds83,574 87,652
Level 1
Financial assets:
Loans and leases, net0 0
Restricted equity securities0 0
Financial liabilities:
Certificates of deposits0 0
Borrowed funds0 0
Level 2
Financial assets:
Loans and leases, net0 0
Restricted equity securities0 0
Financial liabilities:
Certificates of deposits1,751,374 2,092,867
Borrowed funds539,957 818,681
Level 3
Financial assets:
Loans and leases, net7,122,319 7,116,854
Restricted equity securities40,400 49,786
Financial liabilities:
Certificates of deposits0 0
Borrowed funds0 0
Carrying Value
Financial assets:
Loans and leases, net7,157,715 7,155,174
Restricted equity securities40,400 49,786
Financial liabilities:
Certificates of deposits1,743,656 2,083,907
Borrowed funds546,003 820,247
Estimated Fair Value
Financial assets:
Loans and leases, net7,122,319 7,116,854
Restricted equity securities40,400 49,786
Financial liabilities:
Certificates of deposits1,751,374 2,092,867
Borrowed funds $ 539,957 $ 818,681

Commitments and Contingencies -

Commitments and Contingencies - Financial Instrument with Off-balance-sheet Risk (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Loan commitments
Unadvanced portion of loans and leases $ 826,545 $ 759,053
Unused lines of credit:
Home equity591,377 584,881
Other consumer41,583 38,954
Other commercial431 408
Unused letters of credit:
Financial standby letters of credit15,953 14,746
Performance standby letters of credit6,607 5,903
Commercial and similar letters of credit5,369 5,105
Receive fixed, pay variable
Unused letters of credit:
Derivatives1,232,482 1,214,146
Pay fixed, receive variable
Unused letters of credit:
Derivatives1,232,482 1,214,146
Risk participation-out agreements
Unused letters of credit:
Derivatives263,430 252,655
Risk participation-in agreements
Unused letters of credit:
Derivatives60,289 60,619
Foreign exchange contracts | Buys foreign currency, sells U.S. currency
Unused letters of credit:
Derivatives1,416 1,266
Foreign exchange contracts | Sells foreign currency, buys U.S. currency
Unused letters of credit:
Derivatives1,422 1,273
Commercial real estate
Loan commitments
Commitments to originate loans and leases107,597 174,240
Commercial
Loan commitments
Commitments to originate loans and leases105,426 80,291
Residential mortgage
Loan commitments
Commitments to originate loans and leases $ 82,366 $ 30,418

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Real estate taxes $ 0.5 $ 0.5
Other expenditures0.1 0.1
Total operating rental expense $ 1.5 $ 1.6
Minimum
Lessee, Lease, Description [Line Items]
Lease term3 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term25 years

Commitments and Contingencies_3

Commitments and Contingencies - Lease Costs, Cash Flows and Balance Sheet Supplemental Information (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost $ 1,563 $ 1,611
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases1,579 $ 1,658
Supplemental balance sheet information related to leases was as follows:
Operating lease right-of-use assets23,180 $ 24,143
Operating lease liabilities $ 23,180 $ 24,143
Weighted Average Remaining Lease Term
Operating leases6 years 9 months 18 days6 years 11 months 12 days
Weighted Average Discount Rate
Operating leases3.20%3.20%

Commitments and Contingencies_4

Commitments and Contingencies - Maturities of Operating Leases (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Operating Leases, After Adoption of 842
Remainder of 2021 $ 4,596
20225,569
20234,643
20243,366
20252,343
20261,559
Thereafter3,571
Total25,647
Less imputed interest(2,467)
Present value of lease liability $ 23,180 $ 24,143

Uncategorized Items - brkl-2021

LabelElementValue
Accounting Standards Update [Extensible List]us-gaap_AccountingStandardsUpdateExtensibleListus-gaap:AccountingStandardsUpdate201613Member