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Loans Receivable and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Schedule of Summarized Loans Receivable

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

	2017				2016
Mortgage loans:
Residential	$	1,142,347			1,211,672
Commercial	2,171,056				1,978,569
Multi-family	1,403,885				1,402,054
Construction	392,580				264,814
Total mortgage loans	5,109,868				4,857,109
Commercial loans	1,745,138				1,630,444
Consumer loans	473,957				516,755
Total gross loans	7,328,963				7,004,308
Purchased credit-impaired ("PCI") loans	969				1,272
Premiums on purchased loans	4,029				4,968
Unearned discounts	(36		)		(39	)
Net deferred fees	(8,207		)		(7,023	)
Total loans	$	7,325,718			7,003,486

Summary of Aging Loans Receivable by Portfolio Segment and Class

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

	At December 31, 2017
	30-59 Days				60-89 Days			Non-accrual			90 days or more past due and accruing			Total  Past Due			Current			Total Loans Receivable
Mortgage loans:
Residential	$	7,809			4,325			8,105			—			20,239			1,122,108			1,142,347
Commercial	1,486				—			7,090			—			8,576			2,162,480			2,171,056
Multi-family	—				—			—			—			—			1,403,885			1,403,885
Construction	—				—			—			—			—			392,580			392,580
Total mortgage loans	9,295				4,325			15,195			—			28,815			5,081,053			5,109,868
Commercial loans	551				406			17,243			—			18,200			1,726,938			1,745,138
Consumer loans	2,465				487			2,491			—			5,443			468,514			473,957
Total gross loans	$	12,311			5,218			34,929			—			52,458			7,276,505			7,328,963

	At December 31, 2016
	30-59 Days				60-89 Days			Non-accrual			90 days or more past due and 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

Loans receivable summarized by portfolio segment and impairment method, excluding PCI loans are as follows (in thousands):

	At December 31, 2017
	Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments
Individually evaluated for impairment	$	28,459			21,223			2,359			52,041
Collectively evaluated for impairment	5,081,409				1,723,915			471,598			7,276,922
Total gross loans	$	5,109,868			1,745,138			473,957			7,328,963

	At 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, excluding PCI loans as follows (in thousands):

	At December 31, 2017
	Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments			Unallocated			Total
Individually evaluated for impairment	$	1,486			1,134			70			2,690			—			2,690
Collectively evaluated for impairment	26,566				28,680			2,259			57,505			—			57,505
Total	$	28,052			29,814			2,329			60,195			—			60,195

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

Schedule of Troubled Debt Restructuring

The following tables present the number of loans modified as TDRs during the years ended December 31, 2017 and 2016 and their balances immediately prior to the modification date and post-modification as of December 31, 2017 and 2016.

		Year Ended December 31, 2017
Troubled Debt Restructurings		Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
		($ in thousands)
Mortgage loans:
Residential		5			$	2,468			2,260
Total mortgage loans		5			$	2,468			2,260
Commercial loans		1			874				874
Consumer loans		2			262				257
Total restructured loans		8			$	3,604			3,391

		Year Ended December 31, 2016
Troubled Debt Restructurings		Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
					($ in thousands)
Commercial loans		1			$	1,300			1,300
Total restructured loans		1			$	1,300			1,300

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 for the years ended December 31, 2017 and 2016 (in thousands):

		Year ended December 31,
		2017				2016
Beginning balance		$	200			676
Acquisition		—				—
Accretion		(320		)		(1,417	)
Reclassification from non-accretable difference		221				941
Ending balance		$	101			200

Allowance for Loan Losses

The activity in the allowance for loan losses for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):

	Years Ended December 31,
	2017				2016			2015
Balance at beginning of period	$	61,883			61,424			61,734
Provision charged to operations	5,600				5,400			4,350
Recoveries of loans previously charged off	1,653				2,009			4,168
Loans charged off	(8,941		)		(6,950	)		(8,828	)
Balance at end of period	$	60,195			61,883			61,424

Schedule of Allowance for Loan Losses by Portfolio Segment

The activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2017 and 2016 are as follows (in thousands):

	For the Year Ended December 31, 2017
	Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments			Unallocated			Total
Balance at beginning of period	$	29,626			29,143			3,114			61,883			—			61,883
Provision charged to operations	(1,139		)		7,058			(319	)		5,600			—			5,600
Recoveries of loans previously charged off	66				800			787			1,653			—			1,653
Loans charged off	(501		)		(7,187	)		(1,253	)		(8,941	)		—			(8,941	)
Balance at end of period	$	28,052			29,814			2,329			60,195			—			60,195

	For the Year Ended December 31, 2016
	Mortgage loans				Commercial loans			Consumer loans			Total Portfolio Segments			Unallocated			Total
Balance at beginning of period	$	32,094			25,829			3,501			61,424			—			61,424
Provision charged to operations	(2,028		)		7,606			(178	)		5,400			—			5,400
Recoveries of loans previously charged off	628				570			811			2,009			—			2,009
Loans charged off	(1,068		)		(4,862	)		(1,020	)		(6,950	)		—			(6,950	)
Balance at end of period	$	29,626			29,143			3,114			61,883			—			61,883

Summary of Impaired Loans Receivable by Class

Impaired loans receivable by class, excluding PCI loans are summarized as follows (in thousands):

	At December 31, 2017																At 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	$	13,239			10,477			—			10,552			479			$	10,691			7,881			—			8,027			484
Commercial	5,037				4,908			—			5,022			12			1,556				1,556			—			1,586			40
Multi-family	—				—			—			—			—			—				—			—			—			—
Construction	—				—			—			—			—			2,553				2,517			—			2,514			—
Total	18,276				15,385			—			15,574			491			14,800				11,954			—			12,127			524
Commercial loans	19,196				14,984			—			15,428			395			21,830				18,874			—			13,818			259
Consumer loans	1,582				1,041			—			1,150			69			1,493				981			—			1,026			59
Total loans	$	39,054			31,410			—			32,152			955			$	38,123			31,809			—			26,971			842
Loans with an allow-ance recorded
Mortgage loans:
Residential	$	13,052			12,010			1,351			12,150			475			$	14,169			13,520			1,716			13,705			519
Commercial	1,064				1,064			135			1,076			54			4,138				4,077			270			4,111			55
Multi-family	—				—			—			—			—			—				—			—			—			—
Construction	—				—			—			—			—			—				—			—			—			—
Total	14,116				13,074			1,486			13,226			529			18,307				17,597			1,986			17,816			574
Commercial loans	7,097				6,239			1,134			7,318			208			1,381				1,381			268			5,956			4
Consumer loans	1,329				1,318			70			1,349			64			1,242				1,232			80			1,259			66
Total loans	$	22,542			20,631			2,690			21,893			801			$	20,930			20,210			2,334			25,031			644
Total
Mortgage loans:
Residential	$	26,291			22,487			1,351			22,702			954			$	24,860			21,401			1,716			21,732			1,003
Commercial	6,101				5,972			135			6,098			66			5,694				5,633			270			5,697			95
Multi-family	—				—			—			—			—			—				—			—			—			—
Construction	—				—			—			—			—			2,553				2,517			—			2,514			—
Total	32,392				28,459			1,486			28,800			1,020			33,107				29,551			1,986			29,943			1,098
Commercial loans	26,293				21,223			1,134			22,746			603			23,211				20,255			268			19,774			263
Consumer loans	2,911				2,359			70			2,499			133			2,735				2,213			80			2,285			125
Total loans	$	61,596			52,041			2,690			54,045			1,756			$	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 December 31, 2017
	Residential				Commercial mortgages			Multi- family			Construction			Total mortgages			Commercial loans			Consumer loans			Total loans
Special mention	$	4,325			19,172			15			—			23,512			20,738			486			44,736
Substandard	8,105				25,069			—			—			33,174			29,734			2,491			65,399
Doubtful	—				—			—			—			—			428			—			428
Loss	—				—			—			—			—			—			—			—
Total classified and criticized	12,430				44,241			15			—			56,686			50,900			2,977			110,563
Acceptable/watch	1,129,917				2,126,815			1,403,870			392,580			5,053,182			1,694,238			470,980			7,218,400
Total outstanding loans	$	1,142,347			2,171,056			1,403,885			392,580			5,109,868			1,745,138			473,957			7,328,963

	At December 31, 2016
	Residential				Commercial mortgages			Multi- family			Construction			Total mortgages			Commercial loans			Consumer loans			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
Acceptable/watch	1,193,088				1,930,229			1,400,938			262,297			4,786,552			1,568,349			512,573			6,867,474
Total outstanding loans	$	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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