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Allowance for Credit Losses on Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Additional Information about Nonaccrual Loans

The following table presents additional information about the Company’s nonaccrual loans at March 31, 2021:


(in thousands)		Recorded Investment				Related Allowance				Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family		$	6,840			$	—			$	81
Commercial real estate			10,491				-				-
One-to-four family			330				-				3
Acquisition, development, and construction			-				-				-
Other			10,205				-				18
Total nonaccrual loans with no related allowance		$	27,866			$	—			$	102
Nonaccrual loans with an allowance recorded:
Multi-family		$	3,048			$	435			$	—
Commercial real estate			1,082				84				2
One-to-four family			1,137				365				3
Acquisition, development, and construction			-				-				-
Other			45				20				1
Total nonaccrual loans with an allowance recorded		$	5,312			$	904			$	6
Total nonaccrual loans:
Multi-family		$	9,888			$	435			$	81
Commercial real estate			11,573				84				2
One-to-four family			1,467				365				6
Acquisition, development, and construction			-				-				-
Other			10,250				20				19
Total nonaccrual loans		$	33,178			$	904			$	108

The following table presents additional information about the Company’s nonaccrual loans at December 31, 2020:


(in thousands)		Recorded Investment					Related Allowance					Interest Income Recognized
Nonaccrual loans with no related allowance:
Multi-family		$	—				$	—				$	—
Commercial real estate			2,256					—					—
One-to-four family			557					—					21
Acquisition, development, and construction			—					—					—
Other			19,821					—					820
Total nonaccrual loans with no related allowance		$	22,634				$	—				$	841
Nonaccrual loans with an allowance recorded:
Multi-family		$	4,068				$	589				$	28
Commercial real estate			9,886					133					52
One-to-four family			1,139					370					14
Acquisition, development, and construction			—					—					—
Other			58					18					5
Total nonaccrual loans with an allowance recorded		$	15,151				$	1,110				$	99
Total nonaccrual loans:
Multi-family		$	4,068				$	589				$	28
Commercial real estate			12,142					133					52
One-to-four family			1,696					370					35
Acquisition, development, and construction			—					—					—
Other			19,879					18					825
Total nonaccrual loans		$	37,785				$	1,110				$	940

Non-Covered Loans

Summary of Activity in Allowance for Loan and Lease Losses

The following table summarizes activity in the allowance for credit losses on loans and leases for the periods indicated:


		For the Three Months Ended March 31,
		2021												2020
(in thousands)		Mortgage				Other				Total				Mortgage				Other				Total
Balance, beginning of period		$	176,538			$	17,505			$	194,043			$	122,695			$	24,943			$	147,638
Impact of CECL adoption			—				-				—				(178	)			2,089				1,911
Adjusted balance, beginning of period			176,538				17,505				194,043				122,517				27,032				149,549
Charge-offs			(658	)			(3,666	)			(4,324	)			—				(10,385	)			(10,385	)
Recoveries			20				4,821				4,841				11				178				189
Provision for credit losses			527				2,671				3,198				18,786				4,105				22,891
Balance, end of period		$	176,427			$	21,331			$	197,758			$	141,314			$	20,930			$	162,244