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Loans and Allowance for Loan Losses | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans and Allowance for Loan Losses The composition of loans is as follows at December 31: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018
​ | ​ | (In thousands)
Multi-family residential | ​ | $ | 2,238,591 | ​ | $ | 2,269,048
Commercial real estate | ​ |  | 1,582,008 | ​ |  | 1,542,547
One-to-four family ― mixed-use property | ​ |  | 592,471 | ​ |  | 577,741
One-to-four family ― residential | ​ |  | 188,216 | ​ |  | 190,350
Co-operative apartments | ​ |  | 8,663 | ​ |  | 8,498
Construction | ​ |  | 67,754 | ​ |  | 50,600
Small Business Administration | ​ |  | 14,445 | ​ |  | 15,210
Taxi medallion | ​ |  | 3,309 | ​ |  | 4,539
Commercial business and other | ​ |  | 1,061,478 | ​ |  | 877,763
Gross loans | ​ |  | 5,756,935 | ​ |  | 5,536,296
Net unamortized premiums and unearned loan fees | ​ |  | 15,271 | ​ |  | 15,188
Total loans, net of fees and costs | ​ | $ | 5,772,206 | ​ | $ | 5,551,484
​ The majority of our loan portfolio is invested in multi-family residential, commercial real estate and commercial business and other loans, which totaled 84.8% and 84.7% of our gross loans at December 31, 2019 and 2018, respectively. Our concentration in these types of loans increases the overall level of credit risk inherent in our loan portfolio. The greater risk associated with these types of loans could require us to increase our provision for loan losses and to maintain an ALL as a percentage of total loans in excess of the allowance currently maintained. At December 31, 2019, we were servicing $32.5 million of mortgage loans and $15.8 million of SBA loans for others. Loans secured by multi-family residential property and commercial real estate generally involve a greater degree of risk than residential mortgage loans and generally carry larger loan balances. The increased credit risk is the result of several factors, including the concentration of principal in a smaller number of loans and borrowers, the effects of general economic conditions on income producing properties and the increased difficulty in evaluating and monitoring these types of loans. Furthermore, the repayments of loans secured by these types of properties are typically dependent upon the successful operation of the related property, which is usually owned by a legal entity with the property being the entity’s only asset. If the cash flow from the property is reduced, the borrower’s ability to repay the loan may be impaired. If the borrower defaults, our only remedy may be to foreclose on the property, for which the market value may be less than the balance due on the related mortgage loan. Loans secured by commercial business and other loans involve a greater degree of risk for the same reasons as for multi-family residential and commercial real estate loans with the added risk that many of the loans are not secured by improved properties. To minimize the risks involved in the origination of multi-family residential, commercial real estate and commercial business and other loans, the Company adheres to defined underwriting standards, which include reviewing the expected net operating income generated by the real estate collateral securing the loan, the age and condition of the collateral, the financial resources and income level of the borrower and the borrower’s experience in owning or managing similar properties. We typically require debt service coverage of at least 125% of the monthly loan payment. We generally originate these loans up to a maximum of 75% of the appraised value or the purchase price of the property, whichever is less. Any loan with a final loan-to-value ratio in excess of 75% must be approved by the Bank’s Board of Directors or the Loan Committee as an exception to policy. We generally rely on the income generated by the property as the primary means by which the loan is repaid. However, personal guarantees may be obtained for additional security from these borrowers. Additionally, for commercial business and other loans which are not secured by improved properties, the Bank will secure these loans with business assets, including accounts receivables, inventory and real estate and generally require personal guarantees. The following tables show loans modified and classified as TDR during the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended | ​
​ | ​ | December 31, 2019 | ​
(Dollars in thousands) |  | Number |  | Balance |  | Modification description |
Commercial business and other |  | 3 | ​ | $ | 951 |  | Loan amortization extension. |
Total |  | 3 | ​ | $ | 951 |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended | ​
​ | ​ | December 31, 2018 | ​
(Dollars in thousands) |  | Number |  | Balance |  | Modification description |
Commercial business and other |  | 1 | ​ | $ | 1,620 |  | Loan amortization extension. |
Total |  | 1 | ​ | $ | 1,620 |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended | ​
​ | ​ | December 31, 2017 | ​
(Dollars in thousands) |  | Number |  | Balance |  | Modification description |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxi medallion |  | 10 | ​ | $ | 6,741 |  | Four loans received a below market interest rate and the loan amortization was extended. Six loans had loan amortization extensions. |
Total |  | 10 | ​ | $ | 6,741 |  |  |
​ The recorded investment of the loans modified and classified as TDR, presented in the tables above, were unchanged as there was no principal forgiven in 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, 2019 | ​ | December 31, 2018
​ | ​ | Number | ​ | Recorded | ​ | Number | ​ | Recorded
(Dollars in thousands) |  | of contracts |  | investment |  | of contracts |  | investment
Multi-family residential |  | 7 | ​ | $ | 1,873 |  | 7 | ​ | $ | 1,916
One-to-four family - mixed-use property |  | 4 | ​ |  | 1,481 |  | 5 | ​ |  | 1,692
One-to-four family - residential |  | 3 | ​ |  | 531 |  | 3 | ​ |  | 552
Taxi medallion |  | 7 | ​ |  | 1,668 |  | 15 | ​ |  | 3,926
Commercial business and other |  | 3 | ​ |  | 941 |  | 1 | ​ |  | 279
Total performing |  | 24 | ​ | $ | 6,494 |  | 31 | ​ | $ | 8,365
​ During the year ended December 31, 2019, there were no defaults of TDR loans within 12 months of their modification date. During the year ended December 31, 2018, one commercial business and other loan which was modified as a TDR in 2018 was transferred to non-performing status, as it was no longer performing according to its modified terms. During the year ended December 31, 2019, four taxi medallion loans totaling $1.1 million were transferred to non-performing status, four taxi medallion loans totaling $0.9 million were paid-off, recording a recovery of $0.1 million and one commercial business loan for $0.3 million was transferred to non-performing status. During the year ended December 31, 2018, we sold one commercial real estate TDR loan totaling $1.8 million, for a loss of $0.3 million, four taxi medallion TDR loan’s paid-off totaling $1.4 million and one taxi medallion loan for $0.1 million was foreclosed and is included in other assets. Taxi medallion loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis. 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, 2019 | ​ | December 31, 2018
​ | ​ | Number | ​ | Recorded | ​ | Number | ​ | Recorded
(Dollars in thousands) |  | of contracts |  | investment |  | of contracts |  | investment
Multi-family residential |  | — | ​ | $ | — |  | 1 | ​ | $ | 388
Taxi medallion |  | 4 | ​ |  | 1,065 |  | — | ​ |  | —
Commercial business and other |  | 1 | ​ |  | 279 |  | 1 | ​ |  | 1,397
Total TDR's that subsequently defaulted |  | 5 | ​ | $ | 1,344 |  | 2 | ​ | $ | 1,785
​ The following table shows our non-performing loans at the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31,
(In thousands) |  | 2019 |  | 2018
Loans ninety days or more past due and still accruing: |  | ​ |  |  | ​ |
Multi-family residential | ​ | $ | 445 | ​ | $ | —
Total | ​ |  | 445 | ​ |  | —
Non-accrual mortgage loans: | ​ |  |  | ​ |  |
Multi-family residential | ​ |  | 2,296 | ​ |  | 2,410
Commercial real estate | ​ |  | 367 | ​ |  | 1,379
One-to-four family mixed-use property | ​ |  | 274 | ​ |  | 928
One-to-four family residential | ​ |  | 5,139 | ​ |  | 6,144
Total | ​ |  | 8,076 | ​ |  | 10,861
Non-accrual non-mortgage loans: | ​ |  |  | ​ |  |
Small Business Administration | ​ |  | 1,151 | ​ |  | 1,267
Taxi medallion (1) | ​ |  | 1,641 | ​ |  | 613
Commercial business and other (1) | ​ |  | 1,945 | ​ |  | 3,512
Total | ​ |  | 4,737 | ​ |  | 5,392
Total non-accrual loans | ​ |  | 12,813 | ​ |  | 16,253
Total non-performing loans | ​ | $ | 13,258 | ​ | $ | 16,253
​
| (1) | Not included in the above analysis are non-accrual performing TDR taxi medallions loans totaling $1.7 million in 2019 and $3.9 million in 2018 and non-accrual performing TDR commercial business loans totaling $0.9 million in 2019.
​ The following is a summary of interest foregone on non-accrual loans and loans classified as TDR for the years ended December 31: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
​ | ​ | (In thousands)
Interest income that would have been recognized had the loans performed in accordance with their original terms | ​ | $ | 1,546 | ​ | $ | 1,604 | ​ | $ | 1,705
Less: Interest income included in the results of operations | ​ |  | 418 | ​ |  | 623 | ​ |  | 619
Total foregone interest | ​ | $ | 1,128 | ​ | $ | 981 | ​ | $ | 1,086
​ The following table shows by delinquency an analysis of our recorded investment in loans at December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Greater | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 30 - 59 Days | ​ | 60 - 89 Days | ​ | than | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Past Due |  | Past Due |  | 90 Days |  | Due |  | Current |  | Total Loans
Multi-family residential | ​ | $ | 4,042 | ​ | $ | 1,563 | ​ | $ | 2,741 | ​ | $ | 8,346 | ​ | $ | 2,230,245 | ​ | $ | 2,238,591
Commercial real estate | ​ |  | — | ​ |  | 4,941 | ​ |  | 367 | ​ |  | 5,308 | ​ |  | 1,576,700 | ​ |  | 1,582,008
One-to-four family - mixed-use property | ​ |  | 1,117 | ​ |  | 496 | ​ |  | 274 | ​ |  | 1,887 | ​ |  | 590,584 | ​ |  | 592,471
One-to-four family - residential | ​ |  | 720 | ​ |  | 1,022 | ​ |  | 5,139 | ​ |  | 6,881 | ​ |  | 181,335 | ​ |  | 188,216
Co-operative apartments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 8,663 | ​ |  | 8,663
Construction loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 67,754 | ​ |  | 67,754
Small Business Administration | ​ |  | — | ​ |  | — | ​ |  | 1,151 | ​ |  | 1,151 | ​ |  | 13,294 | ​ |  | 14,445
Taxi medallion | ​ |  | — | ​ |  | — | ​ |  | 1,065 | ​ |  | 1,065 | ​ |  | 2,244 | ​ |  | 3,309
Commercial business and other | ​ |  | 2,340 | ​ |  | 5 | ​ |  | 1,945 | ​ |  | 4,290 | ​ |  | 1,057,188 | ​ |  | 1,061,478
Total | ​ | $ | 8,219 | ​ | $ | 8,027 | ​ | $ | 12,682 | ​ | $ | 28,928 | ​ | $ | 5,728,007 | ​ | $ | 5,756,935
​ The following table shows by delinquency an analysis of our recorded investment in loans at December 31, 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Greater | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 30 - 59 Days | ​ | 60 - 89 Days | ​ | than | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Past Due |  | Past Due |  | 90 Days |  | Due |  | Current |  | Total Loans
Multi-family residential | ​ | $ | 1,887 | ​ | $ | 339 | ​ | $ | 2,410 | ​ | $ | 4,636 | ​ | $ | 2,264,412 | ​ | $ | 2,269,048
Commercial real estate | ​ |  | 379 | ​ |  | — | ​ |  | 1,379 | ​ |  | 1,758 | ​ |  | 1,540,789 | ​ |  | 1,542,547
One-to-four family - mixed-use property | ​ |  | 1,003 | ​ |  | 322 | ​ |  | 928 | ​ |  | 2,253 | ​ |  | 575,488 | ​ |  | 577,741
One-to-four family - residential | ​ |  | 1,564 | ​ |  | — | ​ |  | 6,144 | ​ |  | 7,708 | ​ |  | 182,642 | ​ |  | 190,350
Co-operative apartments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 8,498 | ​ |  | 8,498
Construction loans | ​ |  | — | ​ |  | 730 | ​ |  | — | ​ |  | 730 | ​ |  | 49,870 | ​ |  | 50,600
Small Business Administration | ​ |  | 774 | ​ |  | 68 | ​ |  | 1,267 | ​ |  | 2,109 | ​ |  | 13,101 | ​ |  | 15,210
Taxi medallion | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 4,539 | ​ |  | 4,539
Commercial business and other | ​ |  | 1,306 | ​ |  | 281 | ​ |  | 2,216 | ​ |  | 3,803 | ​ |  | 873,960 | ​ |  | 877,763
Total | ​ | $ | 6,913 | ​ | $ | 1,740 | ​ | $ | 14,344 | ​ | $ | 22,997 | ​ | $ | 5,513,299 | ​ | $ | 5,536,296
​ The following tables show the activity in the allowance for loan losses for the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2019
​ |  | ​ | ​ |  | ​ | ​ |  | One-to-four |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | family - | ​ | One-to-four | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Commercial | ​ | ​ | ​
​ | ​ | Multi-family | ​ | Commercial | ​ | mixed-use | ​ | family - | ​ | Co-operative | ​ | Construction | ​ | Small Business | ​ | Taxi | ​ | business and | ​ | ​ | ​
(in thousands) | ​ | residential | ​ | real estate | ​ | property | ​ | residential | ​ | apartments | ​ | loans | ​ | Administration | ​ | medallion | ​ | other | ​ | Total
Allowance for credit losses: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning balance | ​ | $ | 5,676 | ​ | $ | 4,315 | ​ | $ | 1,867 | ​ | $ | 749 | ​ | $ | — | ​ | $ | 329 | ​ | $ | 418 | ​ | $ | — | ​ | $ | 7,591 | ​ | $ | 20,945
Charge-off's | ​ |  | (190) | ​ |  | — | ​ |  | (89) | ​ |  | (113) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (2,386) | ​ |  | (2,778)
Recoveries | ​ |  | 44 | ​ |  | 37 | ​ |  | 197 | ​ |  | 13 | ​ |  | — | ​ |  | — | ​ |  | 60 | ​ |  | 134 | ​ |  | 288 | ​ |  | 773
Provision (benefit) | ​ |  | (139) | ​ |  | 77 | ​ |  | (158) | ​ |  | 107 | ​ |  | — | ​ |  | 112 | ​ |  | (115) | ​ |  | (134) | ​ |  | 3,061 | ​ |  | 2,811
Ending balance | ​ | $ | 5,391 | ​ | $ | 4,429 | ​ | $ | 1,817 | ​ | $ | 756 | ​ | $ | — | ​ | $ | 441 | ​ | $ | 363 | ​ | $ | — | ​ | $ | 8,554 | ​ | $ | 21,751
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2018
​ |  | ​ | ​ |  | ​ | ​ |  | One-to-four |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | family - | ​ | One-to-four | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Commercial | ​ | ​ | ​
​ | ​ | Multi-family | ​ | Commercial | ​ | mixed-use | ​ | family - | ​ | Co-operative | ​ | Construction | ​ | Small Business | ​ | Taxi | ​ | business and | ​ | ​ | ​
(in thousands) | ​ | residential | ​ | real estate | ​ | property | ​ | residential | ​ | apartments | ​ | loans | ​ | Administration | ​ | medallion | ​ | other | ​ | Total
Allowance for credit losses: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Beginning balance | ​ | $ | 5,823 | ​ | $ | 4,643 | ​ | $ | 2,545 | ​ | $ | 1,082 | ​ | $ | — | ​ | $ | 68 | ​ | $ | 669 | ​ | $ | — | ​ | $ | 5,521 | ​ | $ | 20,351
Charge-off's | ​ |  | (99) | ​ |  | — | ​ |  | (3) | ​ |  | (1) | ​ |  | — | ​ |  | — | ​ |  | (392) | ​ |  | (393) | ​ |  | (44) | ​ |  | (932)
Recoveries | ​ |  | 6 | ​ |  | — | ​ |  | 136 | ​ |  | 569 | ​ |  | — | ​ |  | — | ​ |  | 51 | ​ |  | 143 | ​ |  | 46 | ​ |  | 951
Provision (benefit) | ​ |  | (54) | ​ |  | (328) | ​ |  | (811) | ​ |  | (901) | ​ |  | — | ​ |  | 261 | ​ |  | 90 | ​ |  | 250 | ​ |  | 2,068 | ​ |  | 575
Ending balance | ​ | $ | 5,676 | ​ | $ | 4,315 | ​ | $ | 1,867 | ​ | $ | 749 | ​ | $ | — | ​ | $ | 329 | ​ | $ | 418 | ​ | $ | — | ​ | $ | 7,591 | ​ | $ | 20,945
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2017
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to-four | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | family - |  | One-to-four |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Commercial |  | ​ | ​ |  | ​ | ​
​ | ​ | Multi-family | ​ | Commercial | ​ | mixed-use | ​ | family - | ​ | Co-operative | ​ | Construction | ​ | Small Business | ​ | medallion | ​ | business and | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | residential | ​ | real estate | ​ | property | ​ | residential | ​ | apartments | ​ | loans | ​ | Administration | ​ | Taxi | ​ | other | ​ | Unallocated | ​ | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 5,923 | ​ | $ | 4,487 | ​ | $ | 2,903 | ​ | $ | 1,015 | ​ | $ | — | ​ | $ | 92 | ​ | $ | 481 | ​ | $ | 2,243 | ​ | $ | 4,492 | ​ | $ | 593 | ​ | $ | 22,229
Charge-off's | ​ |  | (454) | ​ |  | (4) | ​ |  | (39) | ​ |  | (415) | ​ |  | — | ​ |  | — | ​ |  | (212) | ​ |  | (11,283) | ​ |  | (65) | ​ |  | — | ​ |  | (12,472)
Recoveries | ​ |  | 300 | ​ |  | 96 | ​ |  | 108 | ​ |  | 91 | ​ |  | — | ​ |  | — | ​ |  | 80 | ​ |  | — | ​ |  | 58 | ​ |  | — | ​ |  | 733
Provision (benefit) | ​ |  | 54 | ​ |  | 64 | ​ |  | (427) | ​ |  | 391 | ​ |  | — | ​ |  | (24) | ​ |  | 320 | ​ |  | 9,040 | ​ |  | 1,036 | ​ |  | (593) | ​ |  | 9,861
Ending balance | ​ | $ | 5,823 | ​ | $ | 4,643 | ​ | $ | 2,545 | ​ | $ | 1,082 | ​ | $ | — | ​ | $ | 68 | ​ | $ | 669 | ​ | $ | — | ​ | $ | 5,521 | ​ | $ | — | ​ | $ | 20,351
​ The following tables show the manner in which loans were evaluated for impairment at the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to-four | ​ | One-to-four | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Commercial | ​ | ​ | ​
​ | ​ | Multi-family | ​ | Commercial | ​ | family - mixed - | ​ | family - | ​ | Co-operative | ​ | Construction | ​ | Small Business | ​ | ​ | ​ | business and | ​ | ​ | ​
(in thousands) | ​ | residential | ​ | real estate | ​ | use property | ​ | residential | ​ | apartments | ​ | loans | ​ | Administration | ​ | Taxi medallion | ​ | other | ​ | Total
Financing Receivables: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Ending Balance | ​ | $ | 2,238,591 | ​ | $ | 1,582,008 | ​ | $ | 592,471 | ​ | $ | 188,216 | ​ | $ | 8,663 | ​ | $ | 67,754 | ​ | $ | 14,445 | ​ | $ | 3,309 | ​ | $ | 1,061,478 | ​ | $ | 5,756,935
Ending balance: individually evaluated for impairment | ​ | $ | 4,169 | ​ | $ | 367 | ​ | $ | 1,761 | ​ | $ | 5,941 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,151 | ​ | $ | 3,309 | ​ | $ | 2,886 | ​ | $ | 19,584
Ending balance: collectively evaluated for impairment | ​ | $ | 2,234,422 | ​ | $ | 1,581,641 | ​ | $ | 590,710 | ​ | $ | 182,275 | ​ | $ | 8,663 | ​ | $ | 67,754 | ​ | $ | 13,294 | ​ | $ | — | ​ | $ | 1,058,592 | ​ | $ | 5,737,351
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Ending balance: individually evaluated for impairment | ​ | $ | 92 | ​ | $ | — | ​ | $ | 45 | ​ | $ | 46 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 132 | ​ | $ | 315
Ending balance: collectively evaluated for impairment | ​ | $ | 5,299 | ​ | $ | 4,429 | ​ | $ | 1,772 | ​ | $ | 710 | ​ | $ | — | ​ | $ | 441 | ​ | $ | 363 | ​ | $ | — | ​ | $ | 8,422 | ​ | $ | 21,436
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31, 2018
​ |  | ​ | ​ |  | ​ | ​ |  | One-to-four |  | One-to-four | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ |  | Commercial |  | ​ | ​
​ | ​ | Multi-family | ​ | Commercial | ​ | family - mixed | ​ | family - | ​ | ​ | Co-operative | ​ | Construction | ​ | ​ | Small Business | ​ | ​ | ​ | business and | ​ | ​ | ​
(in thousands) | ​ | residential | ​ | real estate | ​ | use property | ​ | residential | ​ | ​ | apartments | ​ | loans | ​ | ​ | Administration | ​ | Taxi medallion | ​ | other | ​ | Total
Financing Receivables: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Ending Balance | ​ | $ | 2,269,048 | ​ | $ | 1,542,547 | ​ | $ | 577,741 | ​ | $ | 190,350 | ​ | $ | 8,498 | ​ | $ | 50,600 | ​ | $ | 15,210 | ​ | $ | 4,539 | ​ | $ | 877,763 | ​ | $ | 5,536,296
Ending balance: individually evaluated for impairment | ​ | $ | 4,500 | ​ | $ | 1,435 | ​ | $ | 3,098 | ​ | $ | 6,889 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,267 | ​ | $ | 4,539 | ​ | $ | 3,791 | ​ | $ | 25,519
Ending balance: collectively evaluated for impairment | ​ | $ | 2,264,548 | ​ | $ | 1,541,112 | ​ | $ | 574,643 | ​ | $ | 183,461 | ​ | $ | 8,498 | ​ | $ | 50,600 | ​ | $ | 13,943 | ​ | $ | — | ​ | $ | 873,972 | ​ | $ | 5,510,777
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Ending balance: individually evaluated for impairment | ​ | $ | 100 | ​ | $ | — | ​ | $ | 143 | ​ | $ | 51 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 866 | ​ | $ | 1,160
Ending balance: collectively evaluated for impairment | ​ | $ | 5,576 | ​ | $ | 4,315 | ​ | $ | 1,724 | ​ | $ | 698 | ​ | $ | — | ​ | $ | 329 | ​ | $ | 418 | ​ | $ | — | ​ | $ | 6,725 | ​ | $ | 19,785
​ The following table shows our recorded investment, unpaid principal balance and allocated allowance for loan losses for loans that were considered impaired at: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019 | ​ | December 31, 2018
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Principal | ​ | Related
​ |  | Investment |  | Balance |  | Allowance |  | Investment |  | Balance |  | Allowance
​ | ​ | (In thousands)
With no related allowance recorded: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Mortgage loans: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Multi-family residential | ​ | $ | 2,919 | ​ | $ | 2,919 | ​ | $ | — | ​ | $ | 3,225 | ​ | $ | 3,568 | ​ | $ | —
Commercial real estate | ​ |  | 367 | ​ |  | 367 | ​ |  | — | ​ |  | 1,435 | ​ |  | 1,435 | ​ |  | —
One-to-four family mixed-use property | ​ |  | 921 | ​ |  | 924 | ​ |  | — | ​ |  | 1,913 | ​ |  | 2,113 | ​ |  | —
One-to-four family residential | ​ |  | 5,558 | ​ |  | 5,615 | ​ |  | — | ​ |  | 6,490 | ​ |  | 6,643 | ​ |  | —
Non-mortgage loans: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |
Small Business Administration | ​ |  | 1,151 | ​ |  | 1,421 | ​ |  | — | ​ |  | 1,267 | ​ |  | 1,609 | ​ |  | —
Taxi medallion | ​ |  | 3,309 | ​ |  | 9,527 | ​ |  | — | ​ |  | 4,539 | ​ |  | 12,788 | ​ |  | —
Commercial business and other | ​ |  | 1,945 | ​ |  | 1,945 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total loans with no related allowance recorded | ​ |  | 16,170 | ​ |  | 22,718 | ​ |  | — | ​ |  | 18,869 | ​ |  | 28,156 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
With an allowance recorded: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Mortgage loans: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Multi-family residential | ​ |  | 1,250 | ​ |  | 1,250 | ​ |  | 92 | ​ |  | 1,275 | ​ |  | 1,275 | ​ |  | 100
One-to-four family mixed-use property | ​ |  | 840 | ​ |  | 840 | ​ |  | 45 | ​ |  | 1,185 | ​ |  | 1,185 | ​ |  | 143
One-to-four family residential | ​ |  | 383 | ​ |  | 383 | ​ |  | 46 | ​ |  | 399 | ​ |  | 399 | ​ |  | 51
Commercial business and other | ​ |  | 941 | ​ |  | 941 | ​ |  | 132 | ​ |  | 3,791 | ​ |  | 3,791 | ​ |  | 866
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total loans with an allowance recorded | ​ |  | 3,414 | ​ |  | 3,414 | ​ |  | 315 | ​ |  | 6,650 | ​ |  | 6,650 | ​ |  | 1,160
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Impaired Loans: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Total mortgage loans | ​ | $ | 12,238 | ​ | $ | 12,298 | ​ | $ | 183 | ​ | $ | 15,922 | ​ | $ | 16,618 | ​ | $ | 294
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total non-mortgage loans | ​ | $ | 7,346 | ​ | $ | 13,834 | ​ | $ | 132 | ​ | $ | 9,597 | ​ | $ | 18,188 | ​ | $ | 866
​ The following table shows our average recorded investment and interest income recognized for loans that were considered impaired for the years ended: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019 | ​ | December 31, 2018 | ​ | December 31, 2017
​ | ​ | Average | ​ | Interest | ​ | Average | ​ | Interest | ​ | Average | ​ | Interest
​ | ​ | Recorded | ​ | Income | ​ | Recorded | ​ | Income | ​ | Recorded | ​ | Income
​ |  | Investment |  | Recognized |  | Investment |  | Recognized |  | Investment |  | Recognized
​ | ​ | (In thousands)
With no related allowance recorded: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Mortgage loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family residential | ​ | $ | 3,155 | ​ | $ | 36 | ​ | $ | 3,957 | ​ | $ | 76 | ​ | $ | 3,260 |  | $ | 80
Commercial real estate | ​ |  | 1,081 | ​ |  | 15 | ​ |  | 4,334 | ​ |  | 176 | ​ |  | 6,187 |  | ​ | 300
One-to-four family mixed-use property | ​ |  | 1,719 | ​ |  | 67 | ​ |  | 3,298 | ​ |  | 125 | ​ |  | 5,104 |  | ​ | 168
One-to-four family residential | ​ |  | 5,866 | ​ |  | 7 | ​ |  | 7,603 | ​ |  | 33 | ​ |  | 9,865 |  | ​ | 108
Construction | ​ |  | 190 | ​ |  | — | ​ |  | 183 | ​ |  | 10 | ​ |  | 596 |  | ​ | 22
Non-mortgage loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Small Business Administration | ​ |  | 1,204 | ​ |  | — | ​ |  | 711 | ​ |  | 33 | ​ |  | 207 |  | ​ | 11
Taxi medallion | ​ |  | 3,761 | ​ |  | 171 | ​ |  | 5,865 | ​ |  | 313 | ​ |  | 4,537 |  | ​ | 161
Commercial business and other | ​ |  | 1,398 | ​ |  | — | ​ |  | 10,170 | ​ |  | 792 | ​ |  | 1,267 |  | ​ | 98
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total loans with no related allowance recorded | ​ |  | 18,374 | ​ |  | 296 | ​ |  | 36,121 | ​ |  | 1,558 | ​ |  | 31,023 |  | ​ | 948
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
With an allowance recorded: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  |  | ​ |
Mortgage loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family residential | ​ |  | 1,263 | ​ |  | 72 | ​ |  | 1,741 | ​ |  | 96 | ​ |  | 2,348 |  | ​ | 136
Commercial real estate | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 2,026 |  | ​ | 95
One-to-four family mixed-use property | ​ |  | 975 | ​ |  | 34 | ​ |  | 1,201 | ​ |  | 54 | ​ |  | 1,341 |  | ​ | 65
One-to-four family residential | ​ |  | 391 | ​ |  | 16 | ​ |  | 405 | ​ |  | 16 | ​ |  | 420 |  | ​ | 16
Non-mortgage loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxi medallion | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 10,997 |  | ​ | 166
Commercial business and other | ​ |  | 1,446 | ​ |  | — | ​ |  | 1,178 | ​ |  | 25 | ​ |  | 375 |  | ​ | 22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total loans with an allowance recorded | ​ |  | 4,075 | ​ |  | 122 | ​ |  | 4,525 | ​ |  | 191 | ​ |  | 17,507 |  | ​ | 500
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Impaired Loans: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  |  | ​ |
Total mortgage loans | ​ | $ | 14,640 | ​ | $ | 247 | ​ | $ | 22,722 | ​ | $ | 586 | ​ | $ | 31,147 |  | $ | 990
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total non-mortgage loans | ​ | $ | 7,809 | ​ | $ | 171 | ​ | $ | 17,924 | ​ | $ | 1,163 | ​ | $ | 17,383 |  | $ | 458
​ 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 previously 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 ALL. 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, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
Multi-family residential | ​ | $ | 1,563 | ​ | $ | 2,743 | ​ | $ | — | ​ | $ | — | ​ | $ | 4,306
Commercial real estate | ​ |  | 5,525 | ​ |  | 367 | ​ |  | — | ​ |  | — | ​ |  | 5,892
One-to-four family - mixed-use property | ​ |  | 1,585 | ​ |  | 453 | ​ |  | — | ​ |  | — | ​ |  | 2,038
One-to-four family - residential | ​ |  | 1,095 | ​ |  | 5,787 | ​ |  | — | ​ |  | — | ​ |  | 6,882
Small Business Administration (1) | ​ |  | 55 | ​ |  | 85 | ​ |  | — | ​ |  | — | ​ |  | 140
Taxi medallion | ​ |  | — | ​ |  | 3,309 | ​ |  | — | ​ |  | — | ​ |  | 3,309
Commercial business and other | ​ |  | 3,924 | ​ |  | 11,289 | ​ |  | 266 | ​ |  | — | ​ |  | 15,479
Total loans | ​ | $ | 13,747 | ​ | $ | 24,033 | ​ | $ | 266 | ​ | $ | — | ​ | $ | 38,046
​ The following table sets forth the recorded investment in loans designated as Criticized or Classified at December 31, 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
Multi-family residential | ​ | $ | 2,498 | ​ | $ | 4,166 | ​ | $ | — | ​ | $ | — | ​ | $ | 6,664
Commercial real estate | ​ |  | 381 | ​ |  | 4,051 | ​ |  | — | ​ |  | — | ​ |  | 4,432
One-to-four family - mixed-use property | ​ |  | 1,199 | ​ |  | 2,034 | ​ |  | — | ​ |  | — | ​ |  | 3,233
One-to-four family - residential | ​ |  | 557 | ​ |  | 6,665 | ​ |  | — | ​ |  | — | ​ |  | 7,222
Construction loans | ​ |  | 730 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 730
Small Business Administration (1) | ​ |  | 481 | ​ |  | 139 | ​ |  | — | ​ |  | — | ​ |  | 620
Taxi medallion | ​ |  | — | ​ |  | 4,539 | ​ |  | — | ​ |  | — | ​ |  | 4,539
Commercial business and other | ​ |  | 730 | ​ |  | 21,348 | ​ |  | 3,512 | ​ |  | — | ​ |  | 25,590
Total loans | ​ | $ | 6,576 | ​ | $ | 42,942 | ​ | $ | 3,512 | ​ | $ | — | ​ | $ | 53,030
(1) | Balance reported net of SBA Guaranteed portion.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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