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Allowance for Credit Losses on Off-Balance Sheet Credit Exposures (Tables) | 12 Months Ended
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Dec. 31, 2020
Credit Loss [Abstract] |
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 tables represent the Company's disclosure on The following table illustrates the impact of the January 1, 2020 adoption of CECL on the allowance for credit losses related to the loan portfolio (in thousands):
|  | January 1, 2020
|  | As reported under CECL |  | Prior to CECL |  | Impact of CECL adoption
Loans |  |  |  |  |  |
Residential |  | $ | 8,950 |  |  | 3,414 |  |  | 5,536 |
Commercial |  | 17,118 |  |  | 12,831 |  |  | 4,287 |
Multi-family |  | 9,519 |  |  | 3,374 |  |  | 6,145 |
Construction |  | 4,152 |  |  | 5,892 |  |  | (1,740) |
Total mortgage loans |  | 39,739 |  |  | 25,511 |  |  | 14,228 |
Commercial loans |  | 18,254 |  |  | 28,263 |  |  | (10,009) |
Consumer loans |  | 5,452 |  |  | 1,751 |  |  | 3,701 |
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 (dollars in thousands):
|  | 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 |

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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
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