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Loans Receivable and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Schedule of Summarized Loans Receivable

Loans receivable at September 30, 2017 and December 31, 2016 are summarized as follows (in thousands):

		September 30, 2017				December 31, 2016
Mortgage loans:
Residential		$	1,157,311			1,211,672
Commercial		2,022,576				1,978,569
Multi-family		1,334,984				1,402,054
Construction		324,692				264,814
Total mortgage loans		4,839,563				4,857,109
Commercial loans		1,708,842				1,630,444
Consumer loans		481,262				516,755
Total gross loans		7,029,667				7,004,308
Purchased credit-impaired ("PCI") loans		991				1,272
Premiums on purchased loans		4,229				4,968
Unearned discounts		(36		)		(39	)
Net deferred fees		(6,799		)		(7,023	)
Total loans		$	7,028,052			7,003,486

Summary of Aging Loans Receivable by Portfolio Segment and Class

The following tables summarize the aging of loans receivable by portfolio segment and class of loans, excluding PCI loans (in thousands):

		September 30, 2017
		30-59 Days				60-89 Days			Non-accrual			Recorded Investment > 90 days accruing			Total Past Due			Current			Total Loans Receivable
Mortgage loans:
Residential		$	5,973			3,525			8,820			—			18,318			1,138,993			1,157,311
Commercial		608				292			8,070			—			8,970			2,013,606			2,022,576
Multi-family		—				—			—			—			—			1,334,984			1,334,984
Construction		—				—			—			—			—			324,692			324,692
Total mortgage loans		6,581				3,817			16,890			—			27,288			4,812,275			4,839,563
Commercial loans		1,870				244			17,523			—			19,637			1,689,205			1,708,842
Consumer loans		2,307				1,080			2,035			—			5,422			475,840			481,262
Total gross loans		$	10,758			5,141			36,448			—			52,347			6,977,320			7,029,667

		December 31, 2016
		30-59 Days				60-89 Days			Non-accrual			Recorded Investment > 90 days accruing			Total Past Due			Current			Total Loans Receivable
Mortgage loans:
Residential		$	5,891			6,563			12,021			—			24,475			1,187,197			1,211,672
Commercial		—				80			7,493			—			7,573			1,970,996			1,978,569
Multi-family		—				—			553			—			553			1,401,501			1,402,054
Construction		—				—			2,517			—			2,517			262,297			264,814
Total mortgage loans		5,891				6,643			22,584			—			35,118			4,821,991			4,857,109
Commercial loans		1,656				357			16,787			—			18,800			1,611,644			1,630,444
Consumer loans		2,561				1,199			3,030			—			6,790			509,965			516,755
Total gross loans		$	10,108			8,199			42,401			—			60,708			6,943,600			7,004,308

Summary of Loans Receivable by Portfolio Segment and Impairment Method

The following table summarizes loans receivable by portfolio segment and impairment method, excluding PCI loans (in thousands):

		September 30, 2017
		Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments
Individually evaluated for impairment		$	28,578			19,393			2,210			50,181
Collectively evaluated for impairment		4,810,985				1,689,449			479,052			6,979,486
Total gross loans		$	4,839,563			1,708,842			481,262			7,029,667

		December 31, 2016
		Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments
Individually evaluated for impairment		$	29,551			20,255			2,213			52,019
Collectively evaluated for impairment		4,827,558				1,610,189			514,542			6,952,289
Total gross loans		$	4,857,109			1,630,444			516,755			7,004,308

Summary of Allowance for Loan Losses by Portfolio Segment and Impairment Classification

The allowance for loan losses is summarized by portfolio segment and impairment classification as follows (in thousands):

		September 30, 2017
		Mortgage loans				Commercial loans			Consumer loans			Total
Individually evaluated for impairment		$	1,773			1,028			71			2,872
Collectively evaluated for impairment		24,724				30,423			2,257			57,404
Total gross loans		$	26,497			31,451			2,328			60,276

		December 31, 2016
		Mortgage loans				Commercial loans			Consumer loans			Total
Individually evaluated for impairment		$	1,986			268			80			2,334
Collectively evaluated for impairment		27,640				28,875			3,034			59,549
Total gross loans		$	29,626			29,143			3,114			61,883

Schedule of Troubled Debt Restructuring

The following tables present the number of loans modified as TDRs during the three and nine months ended September 30, 2017 and 2016, along with their balances immediately prior to the modification date and post-modification as of September 30, 2017 and 2016. There were no loans modified as TDRs during the three and nine months ended September 30, 2016.

		For the three months ended
		September 30, 2017											September 30, 2016
Troubled Debt Restructurings		Number  of Loans			Pre-Modification Outstanding Recorded  Investment				Post-Modification Outstanding Recorded  Investment				Number  of Loans			Pre-Modification Outstanding Recorded  Investment				Post-Modification Outstanding Recorded  Investment
		($ in thousands)
Mortgage loans:
Residential		2			$	632			$	470			—			$	—			$	—
Total mortgage loans		2			632				470				—			—				—
Total restructured loans		2			$	632			$	470			—			$	—			$	—

		For the nine months ended
		September 30, 2017											September 30, 2016
Troubled Debt Restructurings		Number  of Loans			Pre-Modification Outstanding Recorded  Investment				Post-Modification Outstanding Recorded  Investment				Number  of Loans			Pre-Modification Outstanding Recorded  Investment				Post-Modification Outstanding Recorded  Investment
		($ in thousands)
Mortgage loans:
Residential		7			$	3,436			$	3,202			—			$	—			$	—
Total mortgage loans		7			3,436				3,202				—			—				—
Commercial loans		1			1,300				1,210				—			—				—
Consumer loans		1			70				68				—			—				—
Total restructured loans		9			$	4,806			$	4,480			—			$	—			$	—

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period

The following table summarizes the changes in the accretable yield for PCI loans during the three and nine months ended September 30, 2017 and 2016 (in thousands):

	Three months ended September 30,							Nine months ended September 30,
	2017				2016			2017			2016
Beginning balance	$	158			328			200			676
Accretion	(154		)		(225	)		(299	)		(1,065	)
Reclassification from non-accretable discount	99				209			202			701
Ending balance	$	103			312			103			312

Schedule of Allowance for Loan Losses by Portfolio Segment

The activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2017 and 2016 was as follows (in thousands):

Three months ended September 30,		Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments			Unallocated			Total
2017
Balance at beginning of period		$	28,826			31,085			2,951			62,862			—			62,862
Provision charged (credited) to operations		(2,301		)		3,446			(645	)		500			—			500
Recoveries of loans previously charged-off		4				140			291			435			—			435
Loans charged-off		(32		)		(3,220	)		(269	)		(3,521	)		—			(3,521	)
Balance at end of period		$	26,497			31,451			2,328			60,276			—			60,276
2016
Balance at beginning of period		$	31,634			26,299			3,000			60,933			—			60,933
Provision charged (credited) to operations		(1,599		)		2,378			221			1,000			—			1,000
Recoveries of loans previously charged-off		2				68			160			230			—			230
Loans charged-off		(383		)		(506	)		(186	)		(1,075	)		—			(1,075	)
Balance at end of period		$	29,654			28,239			3,195			61,088			—			61,088

Nine months ended September 30,		Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments			Unallocated			Total
2017
Balance at beginning of period		$	29,626			29,143			3,114			61,883			—			61,883
Provision charged (credited) to operations		(2,724		)		6,840			(416	)		3,700			—			3,700
Recoveries of loans previously charged-off		65				671			692			1,428			—			1,428
Loans charged-off		(470		)		(5,203	)		(1,062	)		(6,735	)		—			(6,735	)
Balance at end of period		$	26,497			31,451			2,328			60,276			—			60,276
2016
Balance at beginning of period		$	32,094			25,829			3,501			61,424			—			61,424
Provision charged (credited) to operations		(2,294		)		6,647			(153	)		4,200			—			4,200
Recoveries of loans previously charged-off		575				351			697			1,623			—			1,623
Loans charged-off		(721		)		(4,588	)		(850	)		(6,159	)		—			(6,159	)
Balance at end of period		$	29,654			28,239			3,195			61,088			—			61,088

Summary of Impaired Loans Receivable by Class

The following table presents loans individually evaluated for impairment by class and loan category, excluding PCI loans (in thousands):

		September 30, 2017																December 31, 2016
		Unpaid Principal Balance				Recorded Investment			Related Allowance			Average Recorded Investment			Interest Income Recognized			Unpaid Principal Balance			Recorded Investment			Related Allowance			Average Recorded Investment			Interest Income Recognized
Loans with no related allowance
Mortgage loans:
Residential		$	13,035			10,277			—			10,391			340			10,691			7,881			—			8,027			484
Commercial		4,600				4,472			—			4,496			—			1,556			1,556			—			1,586			40
Construction		—				—			—			—			—			2,553			2,517			—			2,514			—
Total		17,635				14,749			—			14,887			340			14,800			11,954			—			12,127			524
Commercial loans		17,505				13,884			—			13,954			280			21,830			18,874			—			13,818			259
Consumer loans		1,606				1,067			—			1,186			51			1,493			981			—			1,026			59
Total impaired loans		$	36,746			29,700			—			30,027			671			38,123			31,809			—			26,971			842
Loans with an allowance recorded
Mortgage loans:
Residential		$	13,803			12,759			1,633			12,873			374			14,169			13,520			1,716			13,705			519
Commercial		1,071				1,070			140			1,083			40			4,138			4,077			270			4,111			55
Construction		—				—			—			—			—			—			—			—			—			—
Total		14,874				13,829			1,773			13,956			414			18,307			17,597			1,986			17,816			574
Commercial loans		6,158				5,509			1,028			6,045			52			1,381			1,381			268			5,956			4
Consumer loans		1,154				1,143			71			1,170			47			1,242			1,232			80			1,259			66
Total impaired loans		$	22,186			20,481			2,872			21,171			513			20,930			20,210			2,334			25,031			644
Total impaired loans
Mortgage loans:
Residential		$	26,838			23,036			1,633			23,264			714			24,860			21,401			1,716			21,732			1,003
Commercial		5,671				5,542			140			5,579			40			5,694			5,633			270			5,697			95
Construction		—				—			—			—			—			2,553			2,517			—			2,514			—
Total		32,509				28,578			1,773			28,843			754			33,107			29,551			1,986			29,943			1,098
Commercial loans		23,663				19,393			1,028			19,999			332			23,211			20,255			268			19,774			263
Consumer loans		2,760				2,210			71			2,356			98			2,735			2,213			80			2,285			125
Total impaired loans		$	58,932			50,181			2,872			51,198			1,184			59,053			52,019			2,334			52,002			1,486

Summary of Loans Receivable by Credit Quality Risk Rating Indicator

Loans receivable by credit quality risk rating indicator, excluding PCI loans, are as follows (in thousands):

		At September 30, 2017
		Residential				Commercial mortgage			Multi- family			Construction			Total mortgages			Commercial			Consumer			Total loans
Special mention		$	3,525			19,437			16			—			22,978			26,156			1,080			50,214
Substandard		8,820				25,633			—			—			34,453			30,361			2,034			66,848
Doubtful		—				—			—			—			—			771			—			771
Loss		—				—			—			—			—			—			—			—
Total classified and criticized		12,345				45,070			16			—			57,431			57,288			3,114			117,833
Pass/Watch		1,144,966				1,977,506			1,334,968			324,692			4,782,132			1,651,554			478,148			6,911,834
Total		$	1,157,311			2,022,576			1,334,984			324,692			4,839,563			1,708,842			481,262			7,029,667
		At December 31, 2016
		Residential				Commercial mortgage			Multi- family			Construction			Total mortgages			Commercial			Consumer			Total loans
Special mention		$	6,563			25,329			563			—			32,455			14,840			1,242			48,537
Substandard		12,021				23,011			553			2,517			38,102			47,255			2,940			88,297
Doubtful		—				—			—			—			—			—			—			—
Loss		—				—			—			—			—			—			—			—
Total classified and criticized		18,584				48,340			1,116			2,517			70,557			62,095			4,182			136,834
Pass/Watch		1,193,088				1,930,229			1,400,938			262,297			4,786,552			1,568,349			512,573			6,867,474
Total		$	1,211,672			1,978,569			1,402,054			264,814			4,857,109			1,630,444			516,755			7,004,308

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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