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Loans Receivable and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Schedule of Summarized Loans Receivable | Loans receivable at September 30, 2020 and December 31, 2019 are summarized as follows (in thousands):
|  | September 30, 2020 |  | December 31, 2019
Mortgage loans: |  |  |  |
Residential |  | $ | 1,320,222 |  |  | 1,077,689 |
Commercial |  | 3,750,639 |  |  | 2,578,393 |
Multi-family |  | 1,544,924 |  |  | 1,225,551 |
Construction |  | 462,161 |  |  | 429,812 |
Total mortgage loans |  | 7,077,946 |  |  | 5,311,445 |
Commercial loans |  |  |  |
Commercial owner occupied |  | 934,104 |  |  | 853,269 |
Commercial non-owner occupied |  | 906,355 |  |  | 732,277 |
Other commercial loans |  | 449,737 |  |  | 49,213 |
Total commercial loans |  | 2,290,196 |  |  | 1,634,759 |
Consumer loans |  | 406,451 |  |  | 391,360 |
Total gross loans |  | 9,774,593 |  |  | 7,337,564 |
PCI loans prior to CECL |  | — |  |  | 746 |
Premiums on purchased loans |  | 1,514 |  |  | 2,474 |
Unearned discounts |  | (26) |  |  | (26) |
Net deferred fees |  | (19,272) |  |  | (7,873) |
Total loans |  | $ | 9,756,809 |  |  | 7,332,885 |
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 (in thousands). The September 30, 2020 balances include PCD loans, while the December 31, 2019 balances exclude PCI loans (in accordance with ASC 310, prior to the adoption of ASU 2016-13 on January 1, 2020):
|  | September 30, 2020
|  | 30-59 Days |  | 60-89 Days |  | Non-accrual |  | Recorded Investment > 90 days accruing |  | Total Past Due |  | Current |  | Total Loans Receivable |  | Non-accrual loans with no related allowance
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 8,719 |  |  | 7,215 |  |  | 9,424 |  |  | — |  |  | 25,358 |  |  | 1,294,864 |  |  | 1,320,222 |  |  | 1,491 |
Commercial |  | 3,914 |  |  | 4,629 |  |  | 16,568 |  |  | — |  |  | 25,111 |  |  | 3,725,528 |  |  | 3,750,639 |  |  | 4,134 |
Multi-family |  | — |  |  | 488 |  |  | — |  |  | — |  |  | 488 |  |  | 1,544,436 |  |  | 1,544,924 |  |  | — |
Construction |  | 7,396 |  |  | 918 |  |  | 151 |  |  | — |  |  | 8,465 |  |  | 453,696 |  |  | 462,161 |  |  | — |
Total mortgage loans |  | 20,029 |  |  | 13,250 |  |  | 26,143 |  |  | — |  |  | 59,422 |  |  | 7,018,524 |  |  | 7,077,946 |  |  | 5,625 |
Commercial loans |  | 5,575 |  |  | 949 |  |  | 21,269 |  |  | — |  |  | 27,793 |  |  | 2,262,403 |  |  | 2,290,196 |  |  | 6,060 |
Consumer loans |  | 745 |  |  | 862 |  |  | 1,541 |  |  | — |  |  | 3,148 |  |  | 403,303 |  |  | 406,451 |  |  | 9 |
Total gross loans |  | $ | 26,349 |  |  | 15,061 |  |  | 48,953 |  |  | — |  |  | 90,363 |  |  | 9,684,230 |  |  | 9,774,593 |  |  | 11,694 |
|  | December 31, 2019
|  | 30-59 Days |  | 60-89 Days |  | Non-accrual |  | Recorded Investment > 90 days accruing |  | Total Past Due |  | Current |  | Total Loans Receivable |  | Non-accrual loans with no related allowance
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 5,905 |  |  | 2,579 |  |  | 8,543 |  |  | — |  |  | 17,027 |  |  | 1,060,662 |  |  | 1,077,689 |  |  | 2,989 |
Commercial |  | — |  |  | — |  |  | 5,270 |  |  | — |  |  | 5,270 |  |  | 2,573,123 |  |  | 2,578,393 |  |  | — |
Multi-family |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,225,551 |  |  | 1,225,551 |  |  | — |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 429,812 |  |  | 429,812 |  |  | — |
Total mortgage loans |  | 5,905 |  |  | 2,579 |  |  | 13,813 |  |  | — |  |  | 22,297 |  |  | 5,289,148 |  |  | 5,311,445 |  |  | 2,989 |
Commercial loans |  | 2,383 |  |  | 95 |  |  | 25,160 |  |  | — |  |  | 27,638 |  |  | 1,607,121 |  |  | 1,634,759 |  |  | 3,238 |
Consumer loans |  | 1,276 |  |  | 337 |  |  | 1,221 |  |  | — |  |  | 2,834 |  |  | 388,526 |  |  | 391,360 |  |  | 569 |
Total gross loans |  | $ | 9,564 |  |  | 3,011 |  |  | 40,194 |  |  | — |  |  | 52,769 |  |  | 7,284,795 |  |  | 7,337,564 |  |  | 6,796 |
Summary of Allowance for Loan Losses by Portfolio Segment and Impairment Classification | The activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2020 and 2019 was as follows (in thousands):
Three months ended September 30, |  | Mortgage loans |  | Commercial loans |  | Consumer loans |  | Total
2020 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 54,871 |  |  | 25,284 |  |  | 6,104 |  |  | 86,259 |
Provision charged to operations |  | 2,922 |  |  | 2,767 |  |  | 722 |  |  | 6,411 |
Initial allowance on credit loans related to PCD loans |  | 11,984 |  |  | 1,582 |  |  | 20 |  |  | 13,586 |
Recoveries of loans previously charged-off |  | 35 |  |  | 679 |  |  | 144 |  |  | 858 |
Loans charged-off |  | (22) |  |  | (727) |  |  | (51) |  |  | (800) |
Balance at end of period |  | $ | 69,790 |  |  | 29,585 |  |  | 6,939 |  |  | 106,314 |
2019 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 27,280 |  |  | 33,549 |  |  | 1,981 |  |  | 62,810 |
Provision charged to operations |  | (2,092) |  |  | 2,880 |  |  | (288) |  |  | 500 |
Recoveries of loans previously charged-off |  | 24 |  |  | 126 |  |  | 343 |  |  | 493 |
Loans charged-off |  | (131) |  |  | (6,212) |  |  | (116) |  |  | (6,459) |
Balance at end of period |  | $ | 25,081 |  |  | 30,343 |  |  | 1,920 |  |  | 57,344 |
Nine months ended September 30, |  | Mortgage loans |  | Commercial loans |  | Consumer loans |  | Total
2020 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 25,511 |  |  | 28,263 |  |  | 1,751 |  |  | 55,525 |
Increase (decrease) due to the initial adoption of CECL - Retained earnings |  | 14,188 |  |  | (9,974) |  |  | 3,706 |  |  | 7,920 |
Initial allowance on credit loans related to PCD loans |  | 11,984 |  |  | 1,582 |  |  | 20 |  |  | 13,586 |
Provision charged to operations |  | 17,987 |  |  | 12,672 |  |  | 1,352 |  |  | 32,011 |
Recoveries of loans previously charged-off |  | 143 |  |  | 1,597 |  |  | 370 |  |  | 2,110 |
Loans charged-off |  | (23) |  |  | (4,555) |  |  | (260) |  |  | (4,838) |
Balance at end of period |  | $ | 69,790 |  |  | 29,585 |  |  | 6,939 |  |  | 106,314 |
2019 |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 27,678 |  |  | 25,693 |  |  | 2,191 |  |  | 55,562 |
Provision (credited) charged to operations |  | (2,814) |  |  | 13,337 |  |  | (323) |  |  | 10,200 |
Recoveries of loans previously charged-off |  | 361 |  |  | 291 |  |  | 596 |  |  | 1,248 |
Loans charged-off |  | (144) |  |  | (8,978) |  |  | (544) |  |  | (9,666) |
Balance at end of period |  | $ | 25,081 |  |  | 30,343 |  |  | 1,920 |  |  | 57,344 |
The allowance for credit losses is summarized by portfolio segment and impairment classification as follows (in thousands):
|  | September 30, 2020
|  | Mortgage loans |  | Commercial loans |  | Consumer loans |  |  |  |  |  | Total
Individually evaluated for impairment |  | $ | 1,391 |  |  | 1,876 |  |  | 33 |  |  |  |  |  |  | 3,300 |
Collectively evaluated for impairment |  | 68,399 |  |  | 27,709 |  |  | 6,906 |  |  |  |  |  |  | 103,014 |
Total gross loans |  | $ | 69,790 |  |  | 29,585 |  |  | 6,939 |  |  |  |  |  |  | 106,314 |
|  | December 31, 2019
|  | Mortgage loans |  | Commercial loans |  | Consumer loans |  |  |  |  |  | Total
Individually evaluated for impairment |  | $ | 1,580 |  |  | 3,462 |  |  | 25 |  |  |  |  |  |  | 5,067 |
Collectively evaluated for impairment |  | 23,931 |  |  | 24,801 |  |  | 1,726 |  |  |  |  |  |  | 50,458 |
Total gross loans |  | $ | 25,511 |  |  | 28,263 |  |  | 1,751 |  |  |  |  |  |  | 55,525 |
Schedule of Impact of ASC 326 | The following table illustrates the impact of the January 1, 2020 adoption of CECL on held to maturity debt securities (in thousands):
|  | January 1, 2020
|  | As reported under CECL |  | Prior to CECL |  | Impact of CECL adoption
Held to Maturity Debt Securities |  |  |  |  |  |
Allowance for credit losses on corporate securities |  | $ | 6 |  |  | — |  |  | 6 |
Allowance for credit losses on municipal securities |  | 64 |  |  | — |  |  | 64 |
Allowance for credit losses on held to maturity debt securities |  | $ | 70 |  |  | — |  |  | 70 |
The following table illustrates the impact of the January 1, 2020 adoption of CECL on the allowance for credits for the loan portfolio (in thousands):
|  | January 1, 2020
|  | As reported under CECL |  | Prior to CECL |  | Impact of CECL adoption
Loans |  |  |  |  |  |
Residential |  | $ | 8,950 |  |  | 3,411 |  |  | 5,539 |
Commercial |  | 17,118 |  |  | 12,885 |  |  | 4,233 |
Multi-family |  | 9,519 |  |  | 3,370 |  |  | 6,149 |
Construction |  | 4,152 |  |  | 5,885 |  |  | (1,733) |
Total mortgage loans |  | 39,739 |  |  | 25,551 |  |  | 14,188 |
Commercial loans |  | 18,254 |  |  | 28,228 |  |  | (9,974) |
Consumer loans |  | 5,452 |  |  | 1,746 |  |  | 3,706 |
Allowance for credit losses on loans |  | $ | 63,445 |  |  | 55,525 |  |  | 7,920 |
The following table illustrates the impact of the January 1, 2020 adoption of CECL on off-balance sheet credit exposures:
|  | January 1, 2020
|  | As reported under CECL |  | Prior to CECL |  | Impact of CECL adoption
Liabilities |  |  |  |  |  |
Allowance for credit losses on off-balance sheet credit exposure |  | $ | 3,206 |  |  | — |  |  | 3,206 |
Summary of Loans Receivable by Portfolio Segment and Impairment Method | The following tables summarize loans receivable by portfolio segment and impairment method (in thousands):
|  | September 30, 2020
|  | Mortgage loans |  | Commercial loans |  | Consumer loans |  | Total Portfolio Segments
Individually evaluated for impairment |  | $ | 43,397 |  |  | 20,963 |  |  | 1,449 |  |  | 65,809 |
Collectively evaluated for impairment |  | 7,034,549 |  |  | 2,269,233 |  |  | 405,002 |  |  | 9,708,784 |
Total gross loans |  | $ | 7,077,946 |  |  | 2,290,196 |  |  | 406,451 |  |  | 9,774,593 |
|  | December 31, 2019
|  | Mortgage loans |  | Commercial loans |  | Consumer loans |  | Total Portfolio Segments
Individually evaluated for impairment |  | $ | 39,910 |  |  | 28,357 |  |  | 2,374 |  |  | 70,641 |
Collectively evaluated for impairment |  | 5,271,535 |  |  | 1,606,402 |  |  | 388,986 |  |  | 7,266,923 |
Total gross loans |  | $ | 5,311,445 |  |  | 1,634,759 |  |  | 391,360 |  |  | 7,337,564 |
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, 2020 and 2019, along with their balances immediately prior to the modification date and post-modification as of September 30, 2020 and 2019 (in thousands):
|  | For the three months ended
|  | September 30, 2020 |  | September 30, 2019
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 |  | 1 |  |  | $ | 91 |  |  | $ | 79 |  |  | — |  |  | $ | — |  |  | $ | — |
Total mortgage loans |  | 1 |  |  | 91 |  |  | 79 |  |  | — |  |  | — |  |  | — |
Commercial loans |  | 1 |  |  | 1,399 |  |  | 1,399 |  |  | — |  |  | — |  |  | — |
Consumer loans |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 20 |  |  | 16 |
Total restructured loans |  | 2 |  |  | $ | 1,490 |  |  | $ | 1,478 |  |  | 1 |  |  | $ | 20 |  |  | $ | 16 |
|  | For the nine months ended
|  | September 30, 2020 |  | September 30, 2019
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 |  |  | $ | 434 |  |  | $ | 360 |  |  | 2 |  |  | $ | 749 |  |  | $ | 716 |
Commercial |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 14,010 |  |  | 14,010 |
Total mortgage loans |  | 2 |  |  | 434 |  |  | 360 |  |  | 3 |  |  | 14,759 |  |  | 14,726 |
Commercial loans |  | 5 |  |  | 2,882 |  |  | 2,791 |  |  | 7 |  |  | 2,707 |  |  | 1,878 |
Consumer loans |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 20 |  |  | 16 |
Total restructured loans |  | 7 |  |  | $ | 3,316 |  |  | $ | 3,151 |  |  | 11 |  |  | $ | 17,486 |  |  | $ | 16,620 |
Schedule of Troubled Debt Restructurings Subsequently Defaulted | The following table presents loans modified as TDRs within the previous 12 months from September 30, 2020 and 2019, and for which there was a payment default (90 days or more past due) at the quarter ended September 30, 2020 and 2019.
|  | September 30, 2020 |  | September 30, 2019
Troubled Debt Restructurings Subsequently Defaulted |  | Number of Loans |  | Outstanding Recorded Investment |  | Number of Loans |  | Outstanding Recorded Investment
|  | ($ in thousands)
Mortgage loans: |  |  |  |  |  |  |  |
Residential |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 578 |
Total mortgage loans |  | — |  |  | — |  |  | 1 |  |  | 578 |
Total restructured loans |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 578 |
Schedule of Fair Value of Loans Acquired in Acquisition | The table below illustrates the fair value adjustments made to the amortized cost basis in order to present a fair value of the loans acquired (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 1,784,945 |
Interest rate fair value adjustment on all loans |  | 2,567 |
Credit fair value adjustment on non-PCD loans |  | (21,397) |
Allowance for credit losses on PCD loans |  | (13,586) |
Fair value of acquired loans at July 31, 2020 |  | $ | 1,752,529 |
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition as of the closing date (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 315,784 |
Interest component of expected cash flows (accretable difference) |  | (7,988) |
Allowance for credit losses on PCD loans |  | (13,586) |
Net PCD loans |  | $ | 294,210 |
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition as of the July 31, 2020 closing date (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 315,784 |
Interest component of expected cash flows (accretable difference) |  | (7,988) |
Allowance for credit losses on PCD loans |  | (13,586) |
Net PCD loans |  | $ | 294,210 |
Summary of Impaired Loans Receivable by Class | The following table presents loans individually evaluated for impairment by class and loan category, excluding PCD loans (in thousands):
| September 30, 2020 |  | December 31, 2019
| 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 | $ | 14,144 |  |  | 11,541 |  |  | — |  |  | 11,694 |  |  | 386 |  |  | 13,478 |  |  | 10,739 |  |  | — |  |  | 10,910 |  |  | 533 |
Commercial | 19,543 |  |  | 19,543 |  |  | — |  |  | 19,548 |  |  | 431 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 33,687 |  |  | 31,084 |  |  | — |  |  | 31,242 |  |  | 817 |  |  | 13,478 |  |  | 10,739 |  |  | — |  |  | 10,910 |  |  | 533 |
Commercial loans | 7,959 |  |  | 5,713 |  |  | — |  |  | 7,300 |  |  | 29 |  |  | 3,927 |  |  | 3,696 |  |  | — |  |  | 4,015 |  |  | 17 |
Consumer loans | 1,396 |  |  | 895 |  |  | — |  |  | 921 |  |  | 39 |  |  | 2,086 |  |  | 1,517 |  |  | — |  |  | 1,491 |  |  | 86 |
Total impaired loans | $ | 43,042 |  |  | 37,692 |  |  | — |  |  | 39,463 |  |  | 885 |  |  | 19,491 |  |  | 15,952 |  |  | — |  |  | 16,416 |  |  | 636 |
Loans with an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 7,922 |  |  | 7,503 |  |  | 728 |  |  | 7,440 |  |  | 235 |  |  | 10,860 |  |  | 10,326 |  |  | 829 |  |  | 10,454 |  |  | 428 |
Commercial | 4,810 |  |  | 4,810 |  |  | 663 |  |  | 4,822 |  |  | 41 |  |  | 18,845 |  |  | 18,845 |  |  | 751 |  |  | 18,862 |  |  | 569 |
Total | 12,732 |  |  | 12,313 |  |  | 1,391 |  |  | 12,262 |  |  | 276 |  |  | 29,705 |  |  | 29,171 |  |  | 1,580 |  |  | 29,316 |  |  | 997 |
Commercial loans | 17,050 |  |  | 15,250 |  |  | 1,876 |  |  | 18,280 |  |  | 293 |  |  | 27,762 |  |  | 24,661 |  |  | 3,462 |  |  | 27,527 |  |  | 444 |
Consumer loans | 569 |  |  | 554 |  |  | 33 |  |  | 560 |  |  | 13 |  |  | 868 |  |  | 857 |  |  | 25 |  |  | 878 |  |  | 46 |
Total impaired loans | $ | 30,351 |  |  | 28,117 |  |  | 3,300 |  |  | 31,102 |  |  | 582 |  |  | 58,335 |  |  | 54,689 |  |  | 5,067 |  |  | 57,721 |  |  | 1,487 |
Total impaired loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 22,066 |  |  | 19,044 |  |  | 728 |  |  | 19,134 |  |  | 621 |  |  | 24,338 |  |  | 21,065 |  |  | 829 |  |  | 21,364 |  |  | 961 |
Commercial | 24,353 |  |  | 24,353 |  |  | 663 |  |  | 24,370 |  |  | 472 |  |  | 18,845 |  |  | 18,845 |  |  | 751 |  |  | 18,862 |  |  | 569 |
Total | 46,419 |  |  | 43,397 |  |  | 1,391 |  |  | 43,504 |  |  | 1,093 |  |  | 43,183 |  |  | 39,910 |  |  | 1,580 |  |  | 40,226 |  |  | 1,530 |
Commercial loans | 25,009 |  |  | 20,963 |  |  | 1,876 |  |  | 25,580 |  |  | 322 |  |  | 31,689 |  |  | 28,357 |  |  | 3,462 |  |  | 31,542 |  |  | 461 |
Consumer loans | 1,965 |  |  | 1,449 |  |  | 33 |  |  | 1,481 |  |  | 52 |  |  | 2,954 |  |  | 2,374 |  |  | 25 |  |  | 2,369 |  |  | 132 |
Total impaired loans | $ | 73,393 |  |  | 65,809 |  |  | 3,300 |  |  | 70,565 |  |  | 1,467 |  |  | 77,826 |  |  | 70,641 |  |  | 5,067 |  |  | 74,137 |  |  | 2,123 |
Summary of Loans Receivable by Credit Quality Risk Rating Indicator | The following table summarizes the Company's gross loans held for investment by year of origination and internally assigned credit grades (in thousands):
|  | At September 30, 2020
Total portfolio |  | Residential |  | Commercial mortgage |  | Multi-family |  | Construction |  | Total mortgages |  | Commercial |  | Consumer |  | Total Loans (1)
Special mention |  | $ | 4,483 |  |  | 54,368 |  |  | 101 |  |  | 872 |  |  | 59,824 |  |  | 168,833 |  |  | 362 |  |  | 229,019 |
Substandard |  | 41,255 |  |  | 52,847 |  |  | 124 |  |  | — |  |  | 94,226 |  |  | 103,132 |  |  | 3,680 |  |  | 201,038 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 76 |  |  | — |  |  | 76 |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 45,738 |  |  | 107,215 |  |  | 225 |  |  | 872 |  |  | 154,050 |  |  | 272,041 |  |  | 4,042 |  |  | 430,133 |
Pass/Watch |  | 1,274,484 |  |  | 3,643,424 |  |  | 1,544,699 |  |  | 461,289 |  |  | 6,923,896 |  |  | 2,018,155 |  |  | 402,409 |  |  | 9,344,460 |
Total |  | $ | 1,320,222 |  |  | 3,750,639 |  |  | 1,544,924 |  |  | 462,161 |  |  | 7,077,946 |  |  | 2,290,196 |  |  | 406,451 |  |  | 9,774,593 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention |  | $ | — |  |  | — |  |  | — |  |  | 872 |  |  | 872 |  |  | 657 |  |  | — |  |  | 1,529 |
Substandard |  | 2,079 |  |  | — |  |  | — |  |  | — |  |  | 2,079 |  |  | — |  |  | 25 |  |  | 2,104 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 2,079 |  |  | — |  |  | — |  |  | 872 |  |  | 2,951 |  |  | 657 |  |  | 25 |  |  | 3,633 |
Pass/Watch |  | 198,722 |  |  | 375,324 |  |  | 230,034 |  |  | 28,187 |  |  | 832,267 |  |  | 586,510 |  |  | 27,605 |  |  | 1,446,382 |
Total gross loans |  | $ | 200,801 |  |  | 375,324 |  |  | 230,034 |  |  | 29,059 |  |  | 835,218 |  |  | 587,167 |  |  | 27,630 |  |  | 1,450,015 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention |  | $ | 1,753 |  |  | $ | 12,434 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,187 |  |  | $ | 6,755 |  |  | $ | — |  |  | $ | 20,942 |
Substandard |  | 6,321 |  |  | — |  |  | — |  |  | — |  |  | 6,321 |  |  | 2,742 |  |  | 343 |  |  | 9,406 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 8,074 |  |  | 12,434 |  |  | — |  |  | — |  |  | 20,508 |  |  | 9,497 |  |  | 343 |  |  | 30,348 |
Pass/Watch |  | 139,391 |  |  | 547,969 |  |  | 139,633 |  |  | 164,333 |  |  | 991,326 |  |  | 225,447 |  |  | 46,745 |  |  | 1,263,518 |
Total gross loans |  | $ | 147,465 |  |  | 560,403 |  |  | 139,633 |  |  | 164,333 |  |  | 1,011,834 |  |  | 234,944 |  |  | 47,088 |  |  | 1,293,866 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention |  | $ | 318 |  |  | 6,630 |  |  | — |  |  | — |  |  | 6,948 |  |  | 10,908 |  |  | — |  |  | 17,856 |
Substandard |  | 2,152 |  |  | — |  |  | — |  |  | — |  |  | 2,152 |  |  | 4,948 |  |  | 356 |  |  | 7,456 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 2,470 |  |  | 6,630 |  |  | — |  |  | — |  |  | 9,100 |  |  | 15,856 |  |  | 356 |  |  | 25,312 |
Pass/Watch |  | 79,552 |  |  | 361,309 |  |  | 171,555 |  |  | 119,980 |  |  | 732,396 |  |  | 169,974 |  |  | 40,927 |  |  | 943,297 |
Total gross loans |  | $ | 82,022 |  |  | 367,939 |  |  | 171,555 |  |  | 119,980 |  |  | 741,496 |  |  | 185,830 |  |  | 41,283 |  |  | 968,609 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention |  | $ | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,465 |  |  | — |  |  | 31,465 |
Substandard |  | 3,233 |  |  | 17,529 |  |  | — |  |  | — |  |  | 20,762 |  |  | 8,040 |  |  | 15 |  |  | 28,817 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 3,233 |  |  | 17,529 |  |  | — |  |  | — |  |  | 20,762 |  |  | 39,505 |  |  | 15 |  |  | 60,282 |
Pass/Watch |  | 80,813 |  |  | 387,846 |  |  | 134,166 |  |  | 37,564 |  |  | 640,389 |  |  | 148,737 |  |  | 33,340 |  |  | 822,466 |
Total gross loans |  | $ | 84,046 |  |  | 405,375 |  |  | 134,166 |  |  | 37,564 |  |  | 661,151 |  |  | 188,242 |  |  | 33,355 |  |  | 882,748 |
2016 and prior |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention |  | $ | 2,412 |  |  | 35,304 |  |  | 101 |  |  | — |  |  | 37,817 |  |  | 119,048 |  |  | 362 |  |  | 157,227 |
Substandard |  | 27,470 |  |  | 35,318 |  |  | 124 |  |  | — |  |  | 62,912 |  |  | 87,402 |  |  | 2,941 |  |  | 153,255 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 76 |  |  | — |  |  | 76 |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 29,882 |  |  | 70,622 |  |  | 225 |  |  | — |  |  | 100,729 |  |  | 206,526 |  |  | 3,303 |  |  | 310,558 |
Pass/Watch |  | 805,888 |  |  | 2,041,598 |  |  | 869,536 |  |  | 111,225 |  |  | 3,828,247 |  |  | 1,094,013 |  |  | 257,095 |  |  | 5,179,355 |
Total gross loans |  | $ | 835,770 |  |  | 2,112,220 |  |  | 869,761 |  |  | 111,225 |  |  | 3,928,976 |  |  | 1,300,539 |  |  | 260,398 |  |  | 5,489,913 |
|  | At December 31, 2019
|  | Residential |  | Commercial mortgage |  | Multi-family |  | Construction |  | Total mortgages |  | Commercial |  | Consumer |  | Total loans
Special mention |  | $ | 2,402 |  |  | 46,758 |  |  | — |  |  | — |  |  | 49,160 |  |  | 79,248 |  |  | 286 |  |  | 128,694 |
Substandard |  | 10,204 |  |  | 13,458 |  |  | — |  |  | 6,181 |  |  | 29,843 |  |  | 57,015 |  |  | 1,668 |  |  | 88,526 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 836 |  |  | — |  |  | 836 |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total criticized and classified |  | 12,606 |  |  | 60,216 |  |  | — |  |  | 6,181 |  |  | 79,003 |  |  | 137,099 |  |  | 1,954 |  |  | 218,056 |
Pass/Watch |  | 1,065,083 |  |  | 2,518,177 |  |  | 1,225,551 |  |  | 423,631 |  |  | 5,232,442 |  |  | 1,497,660 |  |  | 389,406 |  |  | 7,119,508 |
Total |  | $ | 1,077,689 |  |  | 2,578,393 |  |  | 1,225,551 |  |  | 429,812 |  |  | 5,311,445 |  |  | 1,634,759 |  |  | 391,360 |  |  | 7,337,564 |
(1) Contained within criticized and classified loans at September 30, 2020 are loans that were granted payment deferrals related to COVID-19 totaling $310.8 million

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