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Note 3 - Loans | 12 Months Ended
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Dec. 31, 2014
Receivables [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans The composition of loans is as follows at December 31:
|  | 2014 |  |  | 2013 |
|  | (In thousands) |
Multi-family residential |  | $ | 1,923,460 |  |  | $ | 1,712,039 |
Commercial real estate |  |  | 621,569 |  |  |  | 512,552 |
One-to-four family ― mixed-use property |  |  | 573,779 |  |  |  | 595,751 |
One-to-four family ― residential |  |  | 187,572 |  |  |  | 193,726 |
Co-operative apartments |  |  | 9,835 |  |  |  | 10,137 |
Construction |  |  | 5,286 |  |  |  | 4,247 |
Small Business Administration |  |  | 7,134 |  |  |  | 7,792 |
Taxi medallion |  |  | 22,519 |  |  |  | 13,123 |
Commercial business and other |  |  | 447,500 |  |  |  | 373,641 |
Gross loans |  |  | 3,798,654 |  |  |  | 3,423,008 |
Unearned loan fees and deferred costs, net |  |  | 11,719 |  |  |  | 11,170 |
Total loans |  | $ | 3,810,373 |  |  | $ | 3,434,178 |
The total amount of loans on non-accrual status was $31.9 million and $48.0 million at December 31, 2014 and 2013, respectively. The total amount of loans classified as impaired, which includes all loans on non-accrual status, was $56.5 million and $81.8 million at December 31, 2014 and 2013, respectively. We generally adjust the carrying value of collateral dependent impaired loans to their fair value with a charge to the allowance for loan losses. The average balance of impaired loans was $65.8 million and $95.0 million for 2014 and 2013, respectively. The Company may restructure a loan to enable a borrower to continue making payments when it is deemed to be in our best long-term interest. This restructure may include reducing the interest rate or amount of the monthly payment for a specified period of time, after which the interest rate and repayment terms revert to the original terms of the loan. The Company classifies these loans as a TDR. There were no loans modified and classified as TDR during the year ended December 31, 2014. The following table shows loans modified and classified as TDR during the year ended December 31, 2013:
|  | For the year ended December 31, 2013
(Dollars in thousands) |  | Number |  |  | Balance |  | Modification description
Multi-family residential |  |  | 2 |  |  | $ | 698 |  | Received a below market interest rate and the loan amortization was extended
Commercial real estate |  |  | 1 |  |  |  | 273 |  | Received a below market interest rate and the loan amortization was extended
One-to-four family - mixed-use property |  |  | 1 |  |  |  | 390 |  | Received a below market interest rate and the loan amortization was extended
Commercial business and other |  |  | 2 |  |  |  | 687 |  | Received a below market interest rate and the loan amortization was extended
Total |  |  | 6 |  |  | $ | 2,048 |  |
The recorded investment of each of the loans modified and classified to a TDR, presented in the table above, was unchanged as there was no principal forgiven in any of these modifications. The following table shows our recorded investment for loans classified as TDR that are performing according to their restructured terms at the periods indicated:
|  | December 31, 2014 |  |  | December 31, 2013 |
(Dollars in thousands) |  | Number of contracts |  |  | Recorded investment |  |  | Number of contracts |  |  | Recorded investment |
Multi-family residential |  |  | 10 |  |  | $ | 3,034 |  |  |  | 10 |  |  | $ | 3,087 |
Commercial real estate |  |  | 3 |  |  |  | 2,373 |  |  |  | 3 |  |  |  | 2,407 |
One-to-four family - mixed-use property |  |  | 7 |  |  |  | 2,381 |  |  |  | 8 |  |  |  | 2,692 |
One-to-four family - residential |  |  | 1 |  |  |  | 354 |  |  |  | 1 |  |  |  | 364 |
Construction |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 746 |
Commercial business and other |  |  | 4 |  |  |  | 2,249 |  |  |  | 5 |  |  |  | 4,406 |
Total performing troubled debt restructured |  |  | 25 |  |  | $ | 10,391 |  |  |  | 28 |  |  | $ | 13,702 |
During the year ended December 31, 2014, three TDR loans totaling $2.7 million were transferred to non-performing status, which resulted in these loans being included in non-performing loans. Two of these loans, subsequent to being transferred to non-performing loans, were paid in full during the year ended December 31, 2014. Additionally, during the year ended December 31, 2014, one loan for $0.4 million was transferred from performing non-accrual status to performing accrual status as it has made timely payments for six consecutive months. During the year ended December 31, 2013, no TDR loans were transferred to non-performing status. The following table shows our recorded investment for loans classified as TDR that are not performing according to their restructured terms at the periods indicated:
|  | December 31, 2014 |  |  | December 31, 2013 |
(Dollars in thousands) |  | Number of contracts |  |  | Recorded investment |  |  | Number of contracts |  |  | Recorded investment |
Commercial real estate |  |  | 1 |  |  | $ | 2,252 |  |  |  | 1 |  |  | $ | 2,332 |
One-to-four family - mixed-use property |  |  | 1 |  |  |  | 187 |  |  |  | - |  |  |  | - |
Total troubled debt restructurings that subsequently defaulted |  |  | 2 |  |  | $ | 2,439 |  |  |  | 1 |  |  | $ | 2,332 |
The following table shows our non-performing loans at the periods indicated:
|  | At December 31, |
(In thousands) |  | 2014 |  |  | 2013 |
Loans ninety days or more past due and still accruing: |  |  |  |  |  |
Multi-family residential |  | $ | 676 |  |  | $ | 52 |
Commercial real estate |  |  | 820 |  |  |  | - |
One-to-four family mixed-use property |  |  | 405 |  |  |  | - |
One-to-four family residential |  |  | 14 |  |  |  | 15 |
Commercial Business and other |  |  | 386 |  |  |  | 539 |
Total |  |  | 2,301 |  |  |  | 606 |
Non-accrual mortgage loans: |  |  |  |  |  |  |  |
Multi-family residential |  |  | 6,878 |  |  |  | 13,297 |
Commercial real estate |  |  | 5,689 |  |  |  | 9,962 |
One-to-four family mixed-use property |  |  | 6,936 |  |  |  | 9,063 |
One-to-four family residential |  |  | 11,244 |  |  |  | 13,250 |
Co-operative apartments |  |  | - |  |  |  | 57 |
Total |  |  | 30,747 |  |  |  | 45,629 |
Non-accrual non-mortgage loans: |  |  |  |  |  |  |  |
Commercial Business and other |  |  | 1,143 |  |  |  | 2,348 |
Total |  |  | 1,143 |  |  |  | 2,348 |
Total non-accrual loans |  |  | 31,890 |  |  |  | 47,977 |
Total non-accrual loans and ninety days or more past due and still accruing |  | $ | 34,191 |  |  | $ | 48,583 |
The following is a summary of interest foregone on non-accrual loans and loans classified as TDR for the years ended December 31:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Interest income that would have been recognized had the loans performed in accordance with their original terms |  | $ | 2,919 |  |  | $ | 4,656 |  |  | $ | 9,026 |
Less: Interest income included in the results of operations |  |  | 796 |  |  |  | 1,213 |  |  |  | 1,692 |
Total foregone interest |  | $ | 2,123 |  |  | $ | 3,443 |  |  | $ | 7,334 |
The following table shows an age analysis of our recorded investment in loans at December 31, 2014:
(in thousands) |  | 30 - 59 Days Past Due |  |  | 60 - 89 Days Past Due |  |  | Greater than 90 Days |  |  | Total Past Due |  |  | Current |  |  | Total Loans |
|  | (in thousands) |
Multi-family residential |  | $ | 7,721 |  |  | $ | 1,729 |  |  | $ | 7,554 |  |  | $ | 17,004 |  |  | $ | 1,906,456 |  |  | $ | 1,923,460 |
Commercial real estate |  |  | 1,612 |  |  |  | 1,903 |  |  |  | 6,510 |  |  |  | 10,025 |  |  |  | 611,544 |  |  |  | 621,569 |
One-to-four family - mixed-use property |  |  | 10,408 |  |  |  | 1,154 |  |  |  | 7,341 |  |  |  | 18,903 |  |  |  | 554,876 |  |  |  | 573,779 |
One-to-four family - residential |  |  | 1,751 |  |  |  | 2,244 |  |  |  | 11,051 |  |  |  | 15,046 |  |  |  | 172,526 |  |  |  | 187,572 |
Co-operative apartments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,835 |  |  |  | 9,835 |
Construction loans |  |  | 3,000 |  |  |  | - |  |  |  | - |  |  |  | 3,000 |  |  |  | 2,286 |  |  |  | 5,286 |
Small Business Administration |  |  | 90 |  |  |  | - |  |  |  | - |  |  |  | 90 |  |  |  | 7,044 |  |  |  | 7,134 |
Taxi medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 22,519 |  |  |  | 22,519 |
Commercial business and other |  |  | 6 |  |  |  | 1,585 |  |  |  | 740 |  |  |  | 2,331 |  |  |  | 445,169 |  |  |  | 447,500 |
Total |  | $ | 24,588 |  |  | $ | 8,615 |  |  | $ | 33,196 |  |  | $ | 66,399 |  |  | $ | 3,732,255 |  |  | $ | 3,798,654 |
The following table shows an age analysis of our recorded investment in loans at December 31, 2013:
(in thousands) |  | 30 - 59 Days Past Due |  |  | 60 - 89 Days Past Due |  |  | Greater than 90 Days |  |  | Total Past Due |  |  | Current |  |  | Total Loans |
|  | (in thousands) |
Multi-family residential |  | $ | 14,101 |  |  | $ | 3,684 |  |  | $ | 13,349 |  |  | $ | 31,134 |  |  | $ | 1,680,905 |  |  | $ | 1,712,039 |
Commercial real estate |  |  | 5,029 |  |  |  | 7,699 |  |  |  | 9,962 |  |  |  | 22,690 |  |  |  | 489,862 |  |  |  | 512,552 |
One-to-four family - mixed-use property |  |  | 14,017 |  |  |  | 1,099 |  |  |  | 9,063 |  |  |  | 24,179 |  |  |  | 571,572 |  |  |  | 595,751 |
One-to-four family - residential |  |  | 3,828 |  |  |  | 518 |  |  |  | 12,968 |  |  |  | 17,314 |  |  |  | 176,412 |  |  |  | 193,726 |
Co-operative apartments |  |  | 99 |  |  |  | - |  |  |  | 144 |  |  |  | 243 |  |  |  | 9,894 |  |  |  | 10,137 |
Construction loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,247 |  |  |  | 4,247 |
Small Business Administration |  |  | 106 |  |  |  | - |  |  |  | - |  |  |  | 106 |  |  |  | 7,686 |  |  |  | 7,792 |
Taxi medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 13,123 |  |  |  | 13,123 |
Commercial business and other |  |  | 187 |  |  |  | 2 |  |  |  | 1,752 |  |  |  | 1,941 |  |  |  | 371,700 |  |  |  | 373,641 |
Total |  | $ | 37,367 |  |  | $ | 13,002 |  |  | $ | 47,238 |  |  | $ | 97,607 |  |  | $ | 3,325,401 |  |  | $ | 3,423,008 |
The following table shows the activity in the allowance for loan losses for the year ended December 31, 2014:
(in thousands) |  | Multi-family residential |  |  | Commercial real estate |  |  | One-to-four family - mixed-use property |  |  | One-to-four family - residential |  |  | Co-operative apartments |  |  | Construction loans |  |  | Small Business Administration |  |  | Taxi medallion |  |  | Commercial business and other |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 12,084 |  |  | $ | 4,959 |  |  | $ | 6,328 |  |  | $ | 2,079 |  |  | $ | 104 |  |  | $ | 444 |  |  | $ | 458 |  |  | $ | - |  |  | $ | 5,320 |  |  | $ | 31,776 |
Charge-off's |  |  | (1,161 | ) |  |  | (325 | ) |  |  | (423 | ) |  |  | (103 | ) |  |  | - |  |  |  | - |  |  |  | (49 | ) |  |  | - |  |  |  | (381 | ) |  |  | (2,442 | )
Recoveries |  |  | 150 |  |  |  | 481 |  |  |  | 608 |  |  |  | 269 |  |  |  | 7 |  |  |  | - |  |  |  | 92 |  |  |  | - |  |  |  | 176 |  |  |  | 1,783 |
Provision (benefit) |  |  | (2,246 | ) |  |  | (913 | ) |  |  | (673 | ) |  |  | (555 | ) |  |  | (111 | ) |  |  | (402 | ) |  |  | (222 | ) |  |  | 11 |  |  |  | (910 | ) |  |  | (6,021 | )
Ending balance |  | $ | 8,827 |  |  | $ | 4,202 |  |  | $ | 5,840 |  |  | $ | 1,690 |  |  | $ | - |  |  | $ | 42 |  |  | $ | 279 |  |  | $ | 11 |  |  | $ | 4,205 |  |  | $ | 25,096 |
Ending balance: individually evaluated for impairment |  | $ | 286 |  |  | $ | 21 |  |  | $ | 579 |  |  | $ | 54 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 154 |  |  | $ | 1,094 |
Ending balance: collectively evaluated for impairment |  | $ | 8,541 |  |  | $ | 4,181 |  |  | $ | 5,261 |  |  | $ | 1,636 |  |  | $ | - |  |  | $ | 42 |  |  | $ | 279 |  |  | $ | 11 |  |  | $ | 4,051 |  |  | $ | 24,002 |
Financing Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 1,923,460 |  |  | $ | 621,569 |  |  | $ | 573,779 |  |  | $ | 187,572 |  |  | $ | 9,835 |  |  | $ | 5,286 |  |  | $ | 7,134 |  |  | $ | 22,519 |  |  | $ | 447,500 |  |  | $ | 3,798,654 |
Ending balance: individually evaluated for impairment |  | $ | 13,260 |  |  | $ | 9,473 |  |  | $ | 15,120 |  |  | $ | 13,170 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 5,492 |  |  | $ | 56,515 |
Ending balance: collectively evaluated for impairment |  | $ | 1,910,200 |  |  | $ | 612,096 |  |  | $ | 558,659 |  |  | $ | 174,402 |  |  | $ | 9,835 |  |  | $ | 5,286 |  |  | $ | 7,134 |  |  | $ | 22,519 |  |  | $ | 442,008 |  |  | $ | 3,742,139 |
The following table shows the activity in the allowance for loan losses for the year ended December 31, 2013:
(in thousands) |  | Multi-family residential |  |  | Commercial real estate |  |  | One-to-four family - mixed-use property |  |  | One-to-four family - residential |  |  | Co-operative apartments |  |  | Construction loans |  |  | Small Business Administration |  |  | Taxi medallion |  |  | Commercial business and other |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 13,001 |  |  | $ | 5,705 |  |  | $ | 5,960 |  |  | $ | 1,999 |  |  | $ | 46 |  |  | $ | 66 |  |  | $ | 505 |  |  | $ | 7 |  |  | $ | 3,815 |  |  | $ | 31,104 |
Charge-off's |  |  | (3,585 | ) |  |  | (1,051 | ) |  |  | (4,206 | ) |  |  | (701 | ) |  |  | (108 | ) |  |  | (2,678 | ) |  |  | (457 | ) |  |  | - |  |  |  | (2,057 | ) |  |  | (14,843 | )
Recoveries |  |  | 541 |  |  |  | 324 |  |  |  | 266 |  |  |  | 272 |  |  |  | 4 |  |  |  | - |  |  |  | 87 |  |  |  | - |  |  |  | 86 |  |  |  | 1,580 |
Provision (benefit) |  |  | 2,127 |  |  |  | (19 | ) |  |  | 4,308 |  |  |  | 509 |  |  |  | 162 |  |  |  | 3,056 |  |  |  | 323 |  |  |  | (7 | ) |  |  | 3,476 |  |  |  | 13,935 |
Ending balance |  | $ | 12,084 |  |  | $ | 4,959 |  |  | $ | 6,328 |  |  | $ | 2,079 |  |  | $ | 104 |  |  | $ | 444 |  |  | $ | 458 |  |  | $ | - |  |  | $ | 5,320 |  |  | $ | 31,776 |
Ending balance: individually evaluated for impairment |  | $ | 312 |  |  | $ | 164 |  |  | $ | 875 |  |  | $ | 58 |  |  | $ | - |  |  | $ | 17 |  |  | $ | - |  |  | $ | - |  |  | $ | 222 |  |  | $ | 1,648 |
Ending balance: collectively evaluated for impairment |  | $ | 11,772 |  |  | $ | 4,795 |  |  | $ | 5,453 |  |  | $ | 2,021 |  |  | $ | 104 |  |  | $ | 427 |  |  | $ | 458 |  |  | $ | - |  |  | $ | 5,098 |  |  | $ | 30,128 |
Financing Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 1,712,039 |  |  | $ | 512,552 |  |  | $ | 595,751 |  |  | $ | 193,726 |  |  | $ | 10,137 |  |  | $ | 4,247 |  |  | $ | 7,792 |  |  | $ | 13,123 |  |  | $ | 373,641 |  |  | $ | 3,423,008 |
Ending balance: individually evaluated for impairment |  | $ | 21,757 |  |  | $ | 19,757 |  |  | $ | 16,939 |  |  | $ | 14,390 |  |  | $ | 59 |  |  | $ | 746 |  |  | $ | - |  |  | $ | - |  |  | $ | 8,120 |  |  | $ | 81,768 |
Ending balance: collectively evaluated for impairment |  | $ | 1,690,282 |  |  | $ | 492,795 |  |  | $ | 578,812 |  |  | $ | 179,336 |  |  | $ | 10,078 |  |  | $ | 3,501 |  |  | $ | 7,792 |  |  | $ | 13,123 |  |  | $ | 365,521 |  |  | $ | 3,341,240 |
The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses, average recorded investment and interest income recognized for loans that were considered impaired at or for the year ended December 31, 2014:
|  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
|  | (In thousands) |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  | $ | 10,481 |  |  | $ | 11,551 |  |  | $ | - |  |  | $ | 14,168 |  |  | $ | 194 |
Commercial real estate |  |  | 7,100 |  |  |  | 7,221 |  |  |  | - |  |  |  | 11,329 |  |  |  | 51 |
One-to-four family mixed-use property |  |  | 12,027 |  |  |  | 13,381 |  |  |  | - |  |  |  | 12,852 |  |  |  | 321 |
One-to-four family residential |  |  | 12,816 |  |  |  | 15,709 |  |  |  | - |  |  |  | 13,015 |  |  |  | 103 |
Co-operative apartments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 285 |  |  |  | - |
Non-mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Taxi Medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Business and other |  |  | 2,779 |  |  |  | 3,149 |  |  |  | - |  |  |  | 3,428 |  |  |  | 137 |
Total loans with no related allowance recorded |  |  | 45,203 |  |  |  | 51,011 |  |  |  | - |  |  |  | 55,077 |  |  |  | 806 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  |  | 2,779 |  |  |  | 2,779 |  |  |  | 286 |  |  |  | 2,936 |  |  |  | 149 |
Commercial real estate |  |  | 2,373 |  |  |  | 2,373 |  |  |  | 21 |  |  |  | 3,242 |  |  |  | 167 |
One-to-four family mixed-use property |  |  | 3,093 |  |  |  | 3,093 |  |  |  | 579 |  |  |  | 3,249 |  |  |  | 170 |
One-to-four family residential |  |  | 354 |  |  |  | 354 |  |  |  | 54 |  |  |  | 358 |  |  |  | 14 |
Co-operative apartments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 187 |  |  |  | - |
Non-mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Taxi Medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Business and other |  |  | 2,713 |  |  |  | 2,713 |  |  |  | 154 |  |  |  | 3,149 |  |  |  | 115 |
Total loans with an allowance recorded |  |  | 11,312 |  |  |  | 11,312 |  |  |  | 1,094 |  |  |  | 13,121 |  |  |  | 615 |
Total Impaired Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total mortgage loans |  | $ | 51,023 |  |  | $ | 56,461 |  |  | $ | 940 |  |  | $ | 61,621 |  |  | $ | 1,169 |
Total non-mortgage loans |  | $ | 5,492 |  |  | $ | 5,862 |  |  | $ | 154 |  |  | $ | 6,577 |  |  | $ | 252 |
The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses, average recorded investment and interest income recognized for loans that were considered impaired at or for the year ended December 31, 2013:
|  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
|  | (In thousands) |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  | $ | 18,709 |  |  | $ | 20,931 |  |  | $ | - |  |  | $ | 22,091 |  |  | $ | 402 |
Commercial real estate |  |  | 16,721 |  |  |  | 17,405 |  |  |  | - |  |  |  | 19,846 |  |  |  | 266 |
One-to-four family mixed-use property |  |  | 12,748 |  |  |  | 15,256 |  |  |  | - |  |  |  | 13,916 |  |  |  | 319 |
One-to-four family residential |  |  | 14,026 |  |  |  | 17,527 |  |  |  | - |  |  |  | 14,529 |  |  |  | 125 |
Co-operative apartments |  |  | 59 |  |  |  | 147 |  |  |  | - |  |  |  | 189 |  |  |  | - |
Construction |  |  | - |  |  |  | 118 |  |  |  | - |  |  |  | 4,014 |  |  |  | - |
Non-mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 247 |  |  |  | - |
Taxi Medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Business and other |  |  | 3,225 |  |  |  | 5,527 |  |  |  | - |  |  |  | 5,309 |  |  |  | 268 |
Total loans with no related allowance recorded |  |  | 65,488 |  |  |  | 76,911 |  |  |  | - |  |  |  | 80,141 |  |  |  | 1,380 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  |  | 3,048 |  |  |  | 3,049 |  |  |  | 312 |  |  |  | 2,892 |  |  |  | 170 |
Commercial real estate |  |  | 3,036 |  |  |  | 3,102 |  |  |  | 164 |  |  |  | 6,388 |  |  |  | 194 |
One-to-four family mixed-use property |  |  | 4,191 |  |  |  | 4,221 |  |  |  | 875 |  |  |  | 4,041 |  |  |  | 228 |
One-to-four family residential |  |  | 364 |  |  |  | 364 |  |  |  | 58 |  |  |  | 368 |  |  |  | 15 |
Co-operative apartments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Construction |  |  | 746 |  |  |  | 746 |  |  |  | 17 |  |  |  | 1,929 |  |  |  | 18 |
Non-mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Taxi Medallion |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Business and other |  |  | 4,895 |  |  |  | 4,894 |  |  |  | 222 |  |  |  | 4,354 |  |  |  | 239 |
Total loans with an allowance recorded |  |  | 16,280 |  |  |  | 16,376 |  |  |  | 1,648 |  |  |  | 19,972 |  |  |  | 864 |
Total Impaired Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total mortgage loans |  | $ | 73,648 |  |  | $ | 82,866 |  |  | $ | 1,426 |  |  | $ | 90,203 |  |  | $ | 1,737 |
Total non-mortgage loans |  | $ | 8,120 |  |  | $ | 10,421 |  |  | $ | 222 |  |  | $ | 9,910 |  |  | $ | 507 |
In accordance with our policy and the current regulatory guidelines, we designate loans as “Special Mention,” which are considered “Criticized Loans,” and “Substandard,” “Doubtful,” or “Loss,” which are considered “Classified Loans”. If a loan does not fall within one of the previous mentioned categories then the loan would be considered “Pass.” These loan designations are updated quarterly. We designate a loan as Substandard when a well-defined weakness is identified that jeopardizes the orderly liquidation of the debt. We designate a loan Doubtful when it displays the inherent weakness of a Substandard loan with the added provision that collection of the debt in full, on the basis of existing facts, is highly improbable. We designate a loan as Loss if it is deemed the debtor is incapable of repayment. The Company does not hold any loans designated as loss, as loans that are designated as Loss are charged to the Allowance for Loan Losses. Loans that are non-accrual are designated as Substandard, Doubtful or Loss. We designate a loan as Special Mention if the asset does not warrant classification within one of the other classifications, but does contain a potential weakness that deserves closer attention. The following table sets forth the recorded investment in loans designated as Criticized or Classified at December 31, 2014:
(In thousands) |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Loss |  |  | Total |
Multi-family residential |  | $ | 6,494 |  |  | $ | 10,226 |  |  | $ | - |  |  | $ | - |  |  | $ | 16,720 |
Commercial real estate |  |  | 5,453 |  |  |  | 7,100 |  |  |  | - |  |  |  | - |  |  |  | 12,553 |
One-to-four family - mixed-use property |  |  | 5,254 |  |  |  | 12,499 |  |  |  | - |  |  |  | - |  |  |  | 17,753 |
One-to-four family - residential |  |  | 2,352 |  |  |  | 13,056 |  |  |  | - |  |  |  | - |  |  |  | 15,408 |
Co-operative apartments |  |  | 623 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 623 |
Construction loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Small Business Administration |  |  | 479 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 479 |
Commercial business and other |  |  | 2,841 |  |  |  | 3,779 |  |  |  | - |  |  |  | - |  |  |  | 6,620 |
Total loans |  | $ | 23,496 |  |  | $ | 46,660 |  |  | $ | - |  |  | $ | - |  |  | $ | 70,156 |
The following table sets forth the recorded investment in loans designated as Criticized or Classified at December 31, 2013:
(In thousands) |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Loss |  |  | Total |
Multi-family residential |  | $ | 9,940 |  |  | $ | 19,089 |  |  | $ | - |  |  | $ | - |  |  | $ | 29,029 |
Commercial real estate |  |  | 13,503 |  |  |  | 16,820 |  |  |  | - |  |  |  | - |  |  |  | 30,323 |
One-to-four family - mixed-use property |  |  | 7,992 |  |  |  | 14,898 |  |  |  | - |  |  |  | - |  |  |  | 22,890 |
One-to-four family - residential |  |  | 2,848 |  |  |  | 14,026 |  |  |  | - |  |  |  | - |  |  |  | 16,874 |
Co-operative apartments |  |  | - |  |  |  | 59 |  |  |  | - |  |  |  | - |  |  |  | 59 |
Construction loans |  |  | 746 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 746 |
Small Business Administration |  |  | 310 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 310 |
Commercial business and other |  |  | 7,314 |  |  |  | 8,450 |  |  |  | 50 |  |  |  | - |  |  |  | 15,814 |
Total loans |  | $ | 42,653 |  |  | $ | 73,342 |  |  | $ | 50 |  |  | $ | - |  |  | $ | 116,045 |
The following table shows the activity in the allowance for loan losses for the years ended December 31:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Balance, beginning of year |  | $ | 31,776 |  |  | $ | 31,104 |  |  | $ | 30,344 |
Provision (benefit) for loan losses |  |  | (6,021 | ) |  |  | 13,935 |  |  |  | 21,000 |
Charge-offs |  |  | (2,442 | ) |  |  | (14,843 | ) |  |  | (21,269 | )
Recoveries |  |  | 1,783 |  |  |  | 1,580 |  |  |  | 1,029 |
Balance, end of year |  | $ | 25,096 |  |  | $ | 31,776 |  |  | $ | 31,104 |
The following are net loan charge-offs (recoveries) by loan type for the years ended December 31:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Multi-family residential |  | $ | 1,011 |  |  | $ | 3,044 |  |  | $ | 5,872 |
Commercial real estate |  |  | (156 | ) |  |  | 727 |  |  |  | 2,439 |
One-to-four family ― mixed-use property |  |  | (185 | ) |  |  | 3,940 |  |  |  | 3,928 |
One-to-four family ― residential |  |  | (166 | ) |  |  | 429 |  |  |  | 1,554 |
Co-operative apartments |  |  | (7 | ) |  |  | 104 |  |  |  | 62 |
Construction |  |  | - |  |  |  | 2,678 |  |  |  | 4,591 |
Small Business Administration |  |  | (43 | ) |  |  | 370 |  |  |  | 237 |
Commercial business and other |  |  | 205 |  |  |  | 1,971 |  |  |  | 1,557 |
Total net loan charge-offs |  | $ | 659 |  |  | $ | 13,263 |  |  | $ | 20,240 |

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