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ALLOWANCE FOR LOAN LOSSES | 12 Months Ended
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Dec. 31, 2017
LOANS |
ALLOWANCE FOR LOAN LOSSES | 5. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established and maintained through a provision for loan losses based on probable incurred losses in the Bank’s loan portfolio. Management evaluates the adequacy of the allowance quarterly. The allowance is comprised of both individual valuation allowances and loan pool valuation allowances. The following tables represent the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, as defined under FASB ASC 310-10, and based on impairment method as of December 31, 2017 and 2016. The tables include loans acquired from CNB and FNBNY.
|  | December 31, 2017 |
(In thousands) |  | Commercial Real Estate Mortgage Loans |  |  | Multi-family Loans |  |  | Residential Real Estate Mortgage Loans |  |  | Commercial, Industrial and Agricultural Loans |  |  | Real Estate Construction and Land Loans |  |  | Installment/ Consumer Loans |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,708 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,708 |
Collectively evaluated for impairment |  |  | 11,048 |  |  |  | 4,521 |  |  |  | 2,438 |  |  |  | 11,130 |  |  |  | 740 |  |  |  | 122 |  |  |  | 29,999 |
Loans acquired with deteriorated credit quality |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total allowance for loan losses |  | $ | 11,048 |  |  | $ | 4,521 |  |  | $ | 2,438 |  |  | $ | 12,838 |  |  | $ | 740 |  |  | $ | 122 |  |  | $ | 31,707 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 11,162 |  |  | $ | — |  |  | $ | 100 |  |  | $ | 11,230 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,492 |
Collectively evaluated for impairment |  |  | 1,281,837 |  |  |  | 593,645 |  |  |  | 463,575 |  |  |  | 604,329 |  |  |  | 107,759 |  |  |  | 21,041 |  |  |  | 3,072,186 |
Loans acquired with deteriorated credit quality |  |  | 907 |  |  |  | 1,635 |  |  |  | 589 |  |  |  | 444 |  |  |  | — |  |  |  | — |  |  |  | 3,575 |
Total loans |  | $ | 1,293,906 |  |  | $ | 595,280 |  |  | $ | 464,264 |  |  | $ | 616,003 |  |  | $ | 107,759 |  |  | $ | 21,041 |  |  | $ | 3,098,253 |
|  | December 31, 2016 |
(In thousands) |  | Commercial Real Estate Mortgage Loans |  |  | Multi-family Loans |  |  | Residential Real Estate Mortgage Loans |  |  | Commercial, Industrial and Agricultural Loans |  |  | Real Estate Construction and Land Loans |  |  | Installment/ Consumer Loans |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Collectively evaluated for impairment |  |  | 9,225 |  |  |  | 6,264 |  |  |  | 1,495 |  |  |  | 7,836 |  |  |  | 955 |  |  |  | 128 |  |  |  | 25,903 |
Loans acquired with deteriorated credit quality |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total allowance for loan losses |  | $ | 9,225 |  |  | $ | 6,264 |  |  | $ | 1,495 |  |  | $ | 7,837 |  |  | $ | 955 |  |  | $ | 128 |  |  | $ | 25,904 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 1,539 |  |  | $ | — |  |  | $ | 784 |  |  | $ | 1,030 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,353 |
Collectively evaluated for impairment |  |  | 1,088,332 |  |  |  | 514,853 |  |  |  | 363,230 |  |  |  | 519,686 |  |  |  | 80,605 |  |  |  | 16,368 |  |  |  | 2,583,074 |
Loans acquired with deteriorated credit quality |  |  | 1,881 |  |  |  | 3,293 |  |  |  | 870 |  |  |  | 3,734 |  |  |  | — |  |  |  | — |  |  |  | 9,778 |
Total loans |  | $ | 1,091,752 |  |  | $ | 518,146 |  |  | $ | 364,884 |  |  | $ | 524,450 |  |  | $ | 80,605 |  |  | $ | 16,368 |  |  | $ | 2,596,205 |
The recorded investment in loans excludes accrued interest receivable and loan origination fees, net due to immateriality. The following tables represent the changes in the allowance for loan losses for the years ended December 31, 2017, 2016 and 2015, by portfolio segment, as defined under FASB ASC 310-10. The portfolio segments represent the categories that the Bank uses to determine its allowance for loan losses.
|  | Year Ended December 31, 2017 |
(In thousands) |  | Commercial Real Estate Mortgage Loans |  |  | Multi-family Loans |  |  | Residential Real Estate Mortgage Loans |  |  | Commercial, Industrial and Agricultural Loans |  |  | Real Estate Construction and Land Loans |  |  | Installment/ Consumer Loans |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 9,225 |  |  | $ | 6,264 |  |  | $ | 1,495 |  |  | $ | 7,837 |  |  | $ | 955 |  |  | $ | 128 |  |  | $ | 25,904 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (8,245 | ) |  |  | — |  |  |  | (49 | ) |  |  | (8,294 | )
Recoveries |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | 16 |  |  |  | — |  |  |  | 3 |  |  |  | 47 |
Provision |  |  | 1,823 |  |  |  | (1,743 | ) |  |  | 915 |  |  |  | 13,230 |  |  |  | (215 | ) |  |  | 40 |  |  |  | 14,050 |
Ending balance |  | $ | 11,048 |  |  | $ | 4,521 |  |  | $ | 2,438 |  |  | $ | 12,838 |  |  | $ | 740 |  |  | $ | 122 |  |  | $ | 31,707 |
|  | Year Ended December 31, 2016 |
(In thousands) |  | Commercial Real Estate Mortgage Loans |  |  | Multi-family Loans |  |  | Residential Real Estate Mortgage Loans |  |  | Commercial, Industrial and Agricultural Loans |  |  | Real Estate Construction and Land Loans |  |  | Installment/ Consumer Loans |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 7,850 |  |  | $ | 4,208 |  |  | $ | 2,115 |  |  | $ | 5,405 |  |  | $ | 1,030 |  |  | $ | 136 |  |  | $ | 20,744 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | (56 | ) |  |  | (930 | ) |  |  | — |  |  |  | (1 | ) |  |  | (987 | )
Recoveries |  |  | 109 |  |  |  | — |  |  |  | 96 |  |  |  | 386 |  |  |  | — |  |  |  | 6 |  |  |  | 597 |
Provision |  |  | 1,266 |  |  |  | 2,056 |  |  |  | (660 | ) |  |  | 2,976 |  |  |  | (75 | ) |  |  | (13 | ) |  |  | 5,550 |
Ending balance |  | $ | 9,225 |  |  | $ | 6,264 |  |  | $ | 1,495 |  |  | $ | 7,837 |  |  | $ | 955 |  |  | $ | 128 |  |  | $ | 25,904 |
|  | Year Ended December 31, 2015 |
(In thousands) |  | Commercial Real Estate Mortgage Loans |  |  | Multi-family Loans |  |  | Residential Real Estate Mortgage Loans |  |  | Commercial, Industrial and Agricultural Loans |  |  | Real Estate Construction and Land Loans |  |  | Installment/ Consumer Loans |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 6,994 |  |  | $ | 2,670 |  |  | $ | 2,208 |  |  | $ | 4,526 |  |  | $ | 1,104 |  |  | $ | 135 |  |  | $ | 17,637 |
Charge-offs |  |  | (50 | ) |  |  | — |  |  |  | (249 | ) |  |  | (827 | ) |  |  | — |  |  |  | (2 | ) |  |  | (1,128 | )
Recoveries |  |  | — |  |  |  | — |  |  |  | 79 |  |  |  | 149 |  |  |  | — |  |  |  | 7 |  |  |  | 235 |
Provision |  |  | 906 |  |  |  | 1,538 |  |  |  | 77 |  |  |  | 1,557 |  |  |  | (74 | ) |  |  | (4 | ) |  |  | 4,000 |
Ending balance |  | $ | 7,850 |  |  | $ | 4,208 |  |  | $ | 2,115 |  |  | $ | 5,405 |  |  | $ | 1,030 |  |  | $ | 136 |  |  | $ | 20,744 |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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- References No definition available. + Details
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