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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2021

LOANS AND ALLOWANCE FOR LOAN LOSSES

Schedule of Net loans


		March 31, 2021			December 31, 2020
Real estate
Commercial		$	1,981,218		$	1,887,505
Construction			121,122			112,290
Multifamily			445,284			433,239
One-to-four family			66,481			71,354
Total real estate loans			2,614,105			2,504,388

Commercial and industrial			587,092			591,500
Consumer			41,916			46,431
Total loans			3,243,113			3,142,319
Deferred fees			(5,449)			(5,266)
Loans, net of deferred fees and unamortized costs			3,237,664			3,137,053
Allowance for loan losses			(35,502)			(35,407)
Balance at the end of the period		$	3,202,162		$	3,101,646

Schedule of changes in the allowance for loan losses by portfolio segment


		Commercial			Commercial						Multi			One-to-four
Three months ended March 31, 2021		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	17,243		$	12,123		$	1,593		$	2,661		$	206		$	1,581		$	35,407
Provision/(credit) for loan losses			1,098			(441)			114			71			(28)			136			950
Loans charged-off			—			(855)			—			—			—			—			(855)
Recoveries			—			—			—			—			—			—			—
Total ending allowance balance		$	18,341		$	10,827		$	1,707		$	2,732		$	178		$	1,717		$	35,502


		Commercial			Commercial						Multi			One-to-four
Three months ended March 31, 2020		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	15,317			7,070			411			2,453			267			754		—	26,272
Provision/(credit) for loan losses			2,052			2,378			209			255			(64)			(40)		—	4,790
Loans charged-off			—			(13)			—			—			—			(188)		—	(201)
Recoveries			—			58			—			—			—			5		—	63
Total ending allowance balance		$	17,369		$	9,493		$	620		$	2,708		$	203		$	531		$	30,924

Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment

The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method as of March 31, 2021 and December 31, 2020 (in thousands):


		Commercial			Commercial						Multi			One-to-four
At March 31, 2021		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Individually evaluated for impairment		$	—		$	2,814		$	—		$	—		$	44		$	1,379		$	4,237
Collectively evaluated for impairment			18,341			8,013			1,707			2,732			134			338			31,265
Total ending allowance balance		$	18,341		$	10,827		$	1,707		$	2,732		$	178		$	1,717		$	35,502
Loans:
Individually evaluated for impairment		$	10,340		$	3,337		$	—		$	—		$	982		$	2,128		$	16,787
Collectively evaluated for impairment			1,970,878			583,755			121,122			445,284			65,499			39,788			3,226,326
Total ending loan balance		$	1,981,218		$	587,092		$	121,122		$	445,284		$	66,481		$	41,916		$	3,243,113


		Commercial			Commercial						Multi			One-to-four
At December 31, 2020		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Individually evaluated for impairment		$	—		$	3,662		$	—		$	—		$	53		$	1,203		$	4,918
Collectively evaluated for impairment			17,243			8,461			1,593			2,661			153			378			30,489
Total ending allowance balance		$	17,243		$	12,123		$	1,593		$	2,661		$	206		$	1,581		$	35,407
Loans:
Individually evaluated for impairment		$	10,345		$	4,192		$	—		$	—		$	999		$	2,197		$	17,733
Collectively evaluated for impairment			1,877,160			587,308			112,290			433,239			70,355			44,234			3,124,586
Total ending loan balance		$	1,887,505		$	591,500		$	112,290		$	433,239		$	71,354		$	46,431		$	3,142,319

Schedule of loans determined to be impaired by class of loans


		Unpaid Principal						Allowance for Loan
At March 31, 2021		Balance			Recorded Investment			Losses Allocated
With an allowance recorded:
One-to-four family		$	598		$	468		$	44
Consumer			2,128			2,128			1,379
Commercial & industrial			4,192			3,337			2,814
Total		$	6,918		$	5,933		$	4,237

Without an allowance recorded:
One-to-four family		$	661		$	514		$	—
Commercial real estate			10,340			10,340			—
Commercial & industrial			—			—			—
Total		$	11,001		$	10,854		$	—


		Unpaid Principal						Allowance for Loan
At December 31, 2020		Balance			Recorded Investment			Losses Allocated
With an allowance recorded:
One-to-four family		$	610			480			53
Consumer			2,197			2,197			1,203
Commercial & industrial			4,192			4,192			3,662
Total		$	6,999		$	6,869		$	4,918

Without an allowance recorded:
One-to-four family			666			519			—
Commercial real estate			10,345			10,345			—
Commercial & industrial			—			—			—
Total		$	11,011		$	10,864		$	—

Schedule of average recorded investment and interest income of loans


		Average Recorded			Interest Income
Three months ended March 31, 2021		Investment			Recognized
With an allowance recorded:
One-to-four family		$	474			8
Consumer			2,162			29
Commercial & industrial			3,669			—
Total		$	6,305		$	37

Without an allowance recorded:
One-to-four family		$	516		$	7
Commercial real estate			10,343			167
Commercial & industrial			96			—
Total		$	10,955		$	174


		Average Recorded			Interest Income
Three months ended March 31, 2020		Investment			Recognized
With an allowance recorded:
One-to-four family		$	500		$	5
Consumer			548			5
Commercial & industrial			1,047			—
Total		$	2,095		$	10

Without an allowance recorded:
One-to-four family		$	1,706		$	7
Commercial real estate			365			4
Commercial & industrial			2,377
Total		$	4,448		$	11

Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans


At March 31, 2021		Non-accrual			Loans Past Due Over 90 Days Still Accruing
Commercial & industrial		$	3,337		$	—
Consumer			1,523			604
Total		$	4,860		$	604


At December 31, 2020		Non-accrual				Loans Past Due Over 90 Days Still Accruing
Commercial & industrial		$	4,192		$	—
Consumer			1,428			769
Total		$	5,620		$	769

Schedule of aging of the recorded investment in past due loans by class of loans


								Greater
		30-59			60-89			than 90			Total past			Current
At March 31, 2021		Days			Days			days			due			loans			Total
Commercial real estate		$	3,360		$	—		$	—		$	3,360		$	1,977,858		$	1,981,218
Commercial & industrial			3,941			6,400			3,337			13,678			573,414			587,092
Construction			—			—			—			—			121,122			121,122
Multifamily			—			—			—			—			445,284			445,284
One-to-four family			—			—			—			—			66,481			66,481
Consumer			48			21			2,127			2,196			39,720			41,916
Total		$	7,349		$	6,421		$	5,464		$	19,234		$	3,223,879		$	3,243,113


								Greater
		30-59			60-89			than 90			Total past			Current
At December 31, 2020		Days			Days			days			due			loans			Total
Commercial real estate		$	40		$	9,984		$	—		$	10,024		$	1,877,481		$	1,887,505
Commercial & industrial			4,429			6,400			4,192			15,021			576,479			591,500
Construction			—			—			—			—			112,290			112,290
Multifamily			—			—			—			—			433,239			433,239
One-to-four family			2,908			—			—			2,908			68,446			71,354
Consumer			112			32			2,197			2,341			44,090			46,431
Total		$	7,489		$	16,416		$	6,389		$	30,294		$	3,112,025		$	3,142,319

Schedule of recorded investment in TDRs by class of loans

The following tables present the recorded investment in TDRs by class of loans as of March 31, 2021 and December 31, 2020 (in thousands):


		March 31, 2021			December 31, 2020
Troubled debt restructurings:
Real Estate:
Commercial real estate		$	356		$	361
One-to-four family			982			999
Total troubled debt restructurings		$	1,339		$	1,360

Schedule of risk category of loans by class of loans


					Special
At March 31, 2021		Pass			Mention			Substandard			Doubtful				Total
Commercial real estate		$	1,970,878		$	356		$	9,984		$	—		$	1,981,218
Commercial & industrial			580,256			3,499			—			3,337			587,092
Construction			121,122			—			—			—			121,122
Multifamily			445,284			—			—			—			445,284
Total		$	3,117,540		$	3,855		$	9,984		$	3,337		$	3,134,716


					Special
At December 31, 2020		Pass			Mention			Substandard			Doubtful				Total
Commercial real estate		$	1,877,160		$	361		$	9,984		$	—		$	1,887,505
Commercial & industrial			583,809			3,499			—			4,192			591,500
Construction			112,290			—			—			—			112,290
Multi-family			433,239			—			—			—			433,239
Total		$	3,006,498		$	3,860		$	9,984		$	4,192		$	3,024,534